Somewhat surprisingly, the crypto market reacted quite well to the latest interest rate hike from the US Fed, with prices soaring to new weekly highs. As such, the number of liquidated traders on a daily scale is over 90,000, while the total value of liquidations is $400 million. As CryptoPotato reported yesterday, the primary cryptocurrency...Read More
Buterin asserted that Ethereum’s developers are working on five long-term stages that aim to improve the network’s overall capabilities. The first on the agenda is the Merge, which is 90% complete and needs to be tested only on Ropsten, he said. During the ongoing annual Ethereum conference, Buterin outlined the improvements the development team is...Read More
According to Tesla’s Q2 2022 earnings report released on Tuesday, the car manufacturer has sold almost all of its Bitcoin into fiat currency. The selloff netted the company an additional $936 million in cash for its balance sheet. As reads the report, Tesla “converted approximately 75% of [its] Bitcoin purchases into fiat currency,” as of...Read More
Social media giant Twitter has filed a lawsuit against Tesla and SpaceX CEO Elon Musk, seeking to force the billionaire to close the acquisition deal as agreed by both parties. According to court documents, the complaint filed in the Delaware Court of the Chancery on Tuesday (July 12, 2022) alleges that Musk violated the terms...Read More
With bitcoin continuing to experience adverse price movements and dumping below $20,000 for the second time in June, the asset is on the brink of registering its worst-performing quarter in about a decade. Bitcoin’s 60% Q2 Drop Data from Coinglass shows that the primary cryptocurrency is down by almost 60% in Q2, which will end...Read More
On June 29, the U.S. securities regulator rejected the proposal by Grayscale to list a spot Bitcoin exchange-traded fund (ETF) on the NYSE Arca exchange. According to the SEC, the proposal did not meet standards designed to prevent fraudulent and manipulative market practices. It stated that the rejection was not based on an “assessment of...Read More
With bitcoin losing nearly half its value at one point a week ago and marking an 18-month low, the asset’s situation seemed gloomy at best. However, there are some positive signs as investors have been continuously withdrawing their BTC holdings from exchanges. BTC on Exchanges Sees 3-Year Lows A lot has been said about what...Read More
Two of the greatest hip hop artists – Eminem and Snoop Dogg – produced a new video that, aside from marijuana, has multiple references to NFTs and BAYC, in particular. Both have experience in the field, owning several digital collectibles. Shady, Snoopy, Bored Apey Marshall Mathers III, as is Eminem’s real name, teased the new...Read More
The bloodbath that brought BTC down from $21,000 to below $18,000 during the weekend has resulted in the largest USD-denominated realized loss for bitcoin investors. Interestingly, long-term holders were among the most active sellers, some of which realized losses in excess of 70%. Largest USD-Denominated Realized Loss Streak After registering the longest negative streak in...Read More
Sen. Cynthia Lummis (R-WY) has revealed a sweeping U.S. crypto legalization and regulation bill. Her lead advisor for the initiative, MicroStrategy CEO Michael Saylor, believes bitcoin is a commodity, not a security. The U.S. crypto bill seems to have the support among crypto industry insiders of both Bitcoin maximalists and the Ethereum / DeFi /...Read More
On May 22, the cryptocurrency community celebrates international Bitcoin Pizza Day. Less than two years after Satoshi Nakamoto published the nine-page Bitcoin whitepaper, Laszlo Hanyecz legitimized the use of cryptocurrency with the purchase of two pizzas for 10,000 BTC. Bitcoin Pizza Day There are thousands of cryptocurrencies, but Bitcoin, even to this day, remains an...Read More
The condition of the global economy seems to be in a state of knockdown. The years of financial boom after the crisis in 2008 ended with the outbreak of the COVID-19 pandemic at the beginning of 2020. Social distancing measures and “stay-at-home” rules crippled production to a serious extent, while numerous central banks took the...Read More
Arguably the most anticipated event in Ethereum’s 7-year-old history could come in the next few months, asserted the project’s co-founder as well as a couple of core ETH developers. This should happen before the “difficulty bomb” slows down the network. Speaking at a panel during the Permissionless conference, ETH core developer Preston Van Loon noted...Read More
The past several weeks have been quite the negative turmoil for the cryptocurrency market, as it all started at the end of March. Interestingly, this coincides with a similar drop for the largest US-based stock market indexes, which led to a multi-month high in terms of correlations between Wall Street and crypto. The Market Meltdowns...Read More
The catastrophic failure of Terra’s algorithmic stablecoin, TerraUSD (UST), last week exacerbated the chaos in the crypto industry and accelerated plans to regulate the stablecoins market. Following the market meltdown, global financial regulators started proposing different legislations to regulate stablecoins better and prevent similar incidents from occurring in the future. UK to Legalize and Regulate...Read More
Terra validators have reportedly decided to freeze Terra’s blockchain due to LUNA’s collapsing market price. The team argues that at such low costs, a whale buyer could easily commit a governance attack on the network. The chain was officially frozen at block 7,603,700, making native transactions on Terra’s blockchain impossible. Terra (LUNA), which has seen...Read More
Five years ago, non-fungible tokens (NFTs) were an esoteric concept leveraged by a few crypto fanatics, but that changed in 2021 when NFTs made it to the mainstream. Since then, the niche has disrupted many industries, especially the art and gaming markets. While there are hundreds of different NFT projects existing today, with each trying...Read More
While the US watchdogs continue to reject BTC spot ETF applications, Australia has reportedly taken the Canadian route and will list its first-ever exchange-traded fund on the Cboe equities trading platform as early as next week. The local report dated April 19 reads that Australia’s main equity capital market regulator – ASX Clear – has...Read More
Over the week, several major news outlets ran stories covering the basics of cryptocurrencies like Bitcoin. One by CBS news claimed, “Crypto is not easy to spend.” That might have been true just five years ago, but in 2022, many national chain stores already accept Bitcoin. Here is a list of nine companies that accept...Read More
Block, formerly named Square, and Blockstream team up to mine bitcoin off Tesla-supported solar power in Texas, as reported by CNBC. Bitcoin mining is seen as an activity that incentivizes the monetization of renewable power production. Tesla’s 3.8 megawatts solar PV array, along with 12 megawatt-hours Megapack, will power the bitcoin mining facility located in...Read More
Michael Saylor, the CEO of Microstrategy, and Cathie Wood, CEO of Arch Invest, held a panel at the Miami 2022 Bitcoin conference on Thursday. The two tech investors shared an optimistic vision for the largest cryptocurrency, setting ambitious price targets. “People ask me if I’m still bullish on Bitcoin. I am more bullish than ever...Read More
HSBC, a former cryptocurrency critic, continues with its involvement with the Metaverse after its recent partnership with The Sandbox. The latest initiative will allow certain Hong Kong- and Singapore-based investors to engage with companies focusing on the new emerging trend. Citing a statement from the bank on April 6, Reuters reported that the new funds...Read More
Cryptocurrency adoption comes in different forms these days, but it seems that countries and cities are becoming more open to the idea of allowing certain payments to be made using such assets. Brazil’s second-largest city said it wants to become the first within the nation’s borders to accept BTC payments for taxes. The report from...Read More
Bored Ape Yacht Club NFT collection made headlines recently with several bombshell revelations – from the purchase of the iconic CryptoPunks to the release of the ApeCoin. The launch of the APE token was as volatile as one might expect as the cryptocurrency dropped to a low of around $6 and is currently trading around...Read More
After weeks of debates and delays, the EU has voted against banning the use and mining of proof of work digital assets, such as bitcoin and ether. CryptoPotato reported earlier the Markets in Crypto Assets (MiCA) framework developed by the European Union, which had one rather threatening note that sought the de facto ban of...Read More
The Lower House of Russia’s Parliament – State Duma – has reportedly called upon establishing a regulatory framework on cryptocurrencies rather than imposing a blanket ban on them. The authorities joined the likes of the Finance Ministry, which urged for the same thing. The Never-Ending Saga Earlier this year, the Bank of Russia – the...Read More
Polygon’s Network was down from 5:50 PM UTC on March 10th until about 4 AM UTC on March March 11th. All users’ funds are safe, and the team explained the particular issues for which the network was not operational during these 11 hours. The Cause for the Polygon Issue Yesterday, Polygon developers notified users of...Read More
The long-awaited executive order on cryptocurrencies from the White House is finally out. It details how the industry can reinforce the US, as well as its citizens, the need for risk mitigation, as well as outlining a few critical points for regulators to work on. President Biden’s Executive Order on Cryptocurrencies This has long been...Read More
Bitcoin’s price soared in today’s Europe early morning trading session. The cryptocurrency jumped past $41K on a leaked press release containing information on President Biden’s expected administrative order on crypto. BNN Bloomberg reported earlier today that there’s been a press release leaked on The Treasury Department’s website. The statement has since been removed, and a spokesperson...Read More
After a brief delay caused by the war between Russia and Ukraine, US President Joe Biden is expected to sign the executive order about cryptocurrency regulations this week. In it, sources said Biden would cooperate with other allies to ensure they were all on the same page. The Delay of the Executive Order CryptoPotato reported...Read More
