Tag: News

Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase – Markets and Prices Bitcoin News

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Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month and over 25% in the last six months. Fed’s Rate Hike Sparks Surge in Gold and Silver Values As of May 3, 2023, the price of gold per ounce has once again surpassed the $2,000…

Crypto Exchange Coinbase Faces Legal Action Over Biometric Data Collection – Exchanges Bitcoin News

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The Nasdaq-listed cryptocurrency exchange Coinbase has been accused of “wrongfully” profiting from its users’ facial and fingerprint scans. “Coinbase collects, stores, possesses, otherwise obtains, uses, and disseminates its users’ biometric data to, amongst other things, further enhance Coinbase and its online ‘app-based’ Platform,” a proposed class action lawsuit details. Coinbase ‘Wrongfully Profits’ From Users’ Facial and Fingerprint Scans A proposed class action lawsuit, filed Monday in the Northern District of California, alleges that the Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN) illegally collects face templates and fingerprints of its customers in…

White House Pushes DAME Tax Proposal to Address Alleged Environmental Costs of Crypto Mining – Mining Bitcoin News

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On May 2, 2023, the Biden administration unveiled a blog post outlining the Digital Asset Mining Energy (DAME) tax, featured in the president’s comprehensive 182-page budget proposal for the fiscal year 2024. The DAME tax targets “making crypto miners pay for the costs they impose on others” regarding the environmental impact of crypto mining activities. Crypto Miners Could Face Gradually Increasing Tax With Biden’s DAME Proposal With the White House’s Council of Economic Advisors expressing alarm over the so-called climate crisis, Biden’s administration argues that crypto asset mining’s energy consumption…

Federal Reserve Raises Interest Rate by 25bps, Insists ‘US Banking System Is Sound and Resilient’ – Bitcoin News

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The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial 25bps increase in March 2022. FOMC Announcement Says ‘Additional Policy Firming May Be Appropriate’ At 2:00 p.m. Eastern Time, the central bank raised the benchmark interest rate citing that economic activity expanded “at a modest…

The Fed’s FOMC Raises Fed Funds Rate by 25 Basis Points; Bitcoin Price Flat on the News

The Fed, however, is fighting a two-front war, with its rate hikes possibly having helped expose balance sheet issues at a number of U.S. banks. This past weekend saw the latest in a series of lender failures, with the nation’s 12th-largest bank by assets, First Republic (FRC), requiring a joint rescue by the Federal Deposit Insurance Corporation (FDIC) and JPMorgan (JPM). Source BasisBitcoinFedFedsFlatFOMCFundsNewsPointsPriceRaisesRate CryptoX Portal

BRC20 Token Standard Sparks Frenzy in Bitcoin Community With Market Cap Surpassing $95 Million – Bitcoin News

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As of May 3, 2023, the Bitcoin blockchain has witnessed a staggering 3.35 million Ordinal inscriptions, and a new experimental token standard known as “Bitcoin Request for Comment,” or BRC20, has garnered substantial attention in the past week. With 10,487 BRC20 tokens built using Ordinals and a swelling market capitalization exceeding $95 million, this new development has the crypto world buzzing. Ordinals Protocol Witnesses 3 Million Inscriptions While BRC20 Tokens Drive Bitcoin’s Mempool into Overdrive The Bitcoin community is abuzz with conversations surrounding the BRC20 token standard after its introduction…

Feel the Thrill of Your Favorite Game – Press release Bitcoin News

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press release PRESS RELEASE. Do you hear the distant roar of numerous stadiums? Are you ready for the next sport challenge? Do you want to resonate with the vibe of the game? If the answer is positive, players should try on a dynamic and explosive platform that hosts a growing number of various sport games. No time for losers. It is high time to play your favorite game. Warm-up The SportVerse is an unprecedented and catchy sport gaming project in the growing crypto space. This online play-to-earn game platform was…

MATIC Rebounds, as SOL Falls Back Towards Support – Market Updates Bitcoin News

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Polygon climbed higher in today’s session, as cryptocurrency markets marginally rebounded on Wednesday. The global crypto market cap was up by nearly 1% earlier in the day, as Tuesday’s losses eased. Solana, on the other hand, remained lower, as it fell towards a key price floor. Polygon (MATIC) Polygon (MATIC) edged higher on Wednesday, as the token moved away from a recent point of support. Following a low at $0.954 on Tuesday, MATIC/USD jumped to a peak of $0.9925 earlier in today’s session. As a result of the move, polygon…

Global Law Enforcement Agencies Dismantle Darknet Marketplace Monopoly Market, Arrest 288 and Seize $53.4 Million – Bitcoin News

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On May 2, 2023, Europol announced a collaborative effort between law enforcement agencies from the U.S., Europe, the U.K., and Brazil culminated in 288 arrests, along with the confiscation of 850 kg of illegal drugs, 117 firearms, and $53.4 million in cash and cryptocurrencies. This joint venture, named “Operation Spector,” successfully dismantled the darknet marketplace (DNM) Monopoly Market and confiscated its infrastructure back in December 2021. Monopoly Market Taken Down via a Consortium of Global Law Enforcement Officials The U.S. Justice Department and Europol reveal that officials from around the…

BTC, ETH Rebound on Wednesday, as Fed Meeting Looms – Market Updates Bitcoin News

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Bitcoin rebounded from Tuesday’s losses, as all focus in the market turned to today’s United States Federal Reserve rate decision. It is widely expected that the Fed will hike rates by 25 basis points in May’s meeting. Ethereum also moved higher, nearing $1,900 in the process. Bitcoin Bitcoin (BTC) rebounded on Wednesday, as all focus in the market turned to today’s Federal Reserve rate decision . Following a low of $27,935.73 on Tuesday, BTC/USD surged to an intraday high of $28,881.30 earlier in the day. This came as after bitcoin…