Tag: News

Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry – Bitcoin News

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Following the acquisition of First Republic Bank by JPMorgan Chase, several regional banks such as Pacwest and Western Alliance experienced a significant drop in their stock prices. On Tuesday afternoon, all four major U.S. benchmark stock indexes are in decline as regional bank stocks hit new lows. Banking Industry on Edge as Pacwest Shares Sink Causing Trading Halt Pacwest, a regional bank based in Beverly Hills, California, is facing challenges after the release of its 2023 first quarter earnings report. Following the publication of the earnings, the bank’s stock price…

Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change – Mining Bitcoin News

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While the next difficulty change for Bitcoin is just two days away, the network’s hashrate soared to unprecedented heights, reaching 491.15 exahash per second (EH/s) on May 02, 2023, at block height 787,895. This staggering amount of computational power came tantalizingly close to a half zettahash or five hundred quintillion hashes per second. Bitcoin’s Hashrate Surges to Unprecedented Heights, Nearly Reaching Half a Zettahash On the second day of May 2023, Bitcoin’s hashrate achieved a remarkable feat, tapping into a new record at block height 787,895. In a stunning display…

DOT Drops to 6-Week Low on Tuesday – Market Updates Bitcoin News

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Polkadot was one of Tuesday’s biggest movers, as the token dropped to a six-week low in today’s session. Prices fell for a long-term support point of $5.60, as the global crypto market cap was once again 1% lower today. Avalanche also hit a price floor on Tuesday. Polkadot (DOT) Polkadot (DOT) was down for a second straight session on Tuesday, as sentiment in cryptocurrency markets remained bearish. DOT/USD dropped to a low of $5.61 earlier in the day, which comes less than 24 hours after trading at a high of…

Morgan Stanley Strategist Warns of Equities Sell-Off in Response to ‘Hawkish’ Fed Message – Economics Bitcoin News

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On Monday, Morgan Stanley’s equity strategist, Michael Wilson, shared his thoughts on the state of Wall Street. He expressed his belief that a sell-off could be imminent, and that this could occur as a result of U.S. Federal Reserve chairman Jerome Powell’s upcoming remarks on Wednesday. Furthermore, there has been a great deal of conjecture surrounding the possibility of the central bank cutting the federal funds rate multiple times throughout the year. However, Wilson believes that investors who are expecting this outcome will ultimately be disappointed. Powell’s Message Could Spark…

BTC Moves Below $28,000 Ahead of FOMC Decision – Market Updates Bitcoin News

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Bitcoin fell below the $28,000 level on Tuesday, as markets continued to prepare for tomorrow’s Federal Reserve interest rate decision. The Fed is expected to increase rates by 0.25%, despite the U.S. economy slowing down. Ethereum also remained lower, moving close to a breakout below $1,800. Bitcoin Bitcoin (BTC) dropped below $28,000 on Tuesday, as markets prepared for the upcoming Federal Open Market Committee (FOMC) decision. BTC/USD slipped to an intraday low of $27,680.79 earlier in today’s session, which came less than 24 hours after trading at a high of…

India, Russia Mull Payment System Integration in Face of US Sanctions – Finance Bitcoin News

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The governments of India and Russia are considering integrating part of their payment systems, in order to counter the possible future effect of US sanctions on the capital flows of each country. The deal would include the integration of India’s Rupay card system and its Russian counterpart, Mir Cards, to allow seamless payments between the two countries. Russia and India Consider Integration of Payment Stacks Russia and India are mulling the integration of their debit payment stacks in order to prevent negative affects on their common payment flows by a…

Ethereum Shapella Upgrade Sets the Stage in Latest ProBit Global Trading Contest – Press release Bitcoin News

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press release PRESS RELEASE. ProBit Global has announced the native asset for the Ethereum network, ETH, as the next token for its series of trading competitions. The crypto trading contest, which allows ProBit Global users to win rewards based on their trading volume, gives traders a low-risk way to win additional assets, with a total prize pool of 5,000 USDT up for grabs in this latest edition. The ETH edition of ProBit Global’s popular trading competition comes in the wake of Ethereum’s successful completion of its Shapella upgrade, which introduced…

Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries – Economics Bitcoin News

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International analysts have called out the supposed use of the national security policy of the U.S. as a tool to justify the establishment of blockades and economic sanctions against countries like China and Russia. While U.S. Treasury Secretary Janet Yellen has recognized that a decoupling of the economies of the U.S. and China would be “disastrous,” the U.S. government is said to be putting its security policies over this concern. U.S. Using National Security Policy as Abusive Tool, Analysts Warn Several analysts have referred to the usage of the U.S.…

Dev Jason Dreyzehner – Bitcoin News

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Pro-freedom technologies advocate and software developer Jason Dreyzehner recently spoke with Bitcoin.com News via email about the upcoming Bitcoin Cash network upgrade on May 15. One of the most talked about improvement proposals set to go through on that date — which proponents view as a boon to economic freedom — is the Cashtokens CHIP. Beyond UTXO-level token creation, the upgrade will allow for “advanced on-chain applications like higher-security vaults, decentralized exchanges, and bridged sidechains,” comparable to ethereum, more scalable, and cheaper, according to Dreyzehner. Bitcoin Cash Dev Dreyzehner on…

China Ramped Up Gold Production During Q1 Amidst Steady Demand From Central Banks – Finance Bitcoin News

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Gold companies operating in China ramped up their production levels during the first quarter of 2023. According to industry reports, the Chinese gold industry managed to recover its extraction levels, reaching numbers it saw before the Covid pandemic, with the country engaging in a record streak of purchasing gold during the last five months. China Recovers Gold Production Levels During Q1 China managed to ramp up its gold extraction levels during the first quarter of 2023. Chinese companies have seen their production efforts rewarded during Q1 2023, as large mines…