Ethereum, the second most valuable cryptocurrency by market cap, has gained popularity due to its flexibility in enabling decentralized transfer and decentralized financial trading, and smart contracts. Its first-mover advantage has led many to believe that Ethereum could reach $10,000 by the end of this year, following its successful switch to a proof-of-stake consensus algorithm.
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Bitcoin (BTC) managed to hold onto its recent gains on May 27 as traders called for a change in “bearish” market sentiment. The price of BTC/USD entered the weekend at approximately $26,700. Despite the recent macroeconomic data from the United States, which showed the economy weathering tighter financial conditions better than expected, the mood remained
US Senator Cynthia Lummis has criticized President Biden’s proposed tax on cryptocurrency miners, calling it a “blatant attempt by the administration to pick winners and losers.” The Wyoming Republican accused the administration of attempting to tax the digital asset industry out of existence. She also spoke out against the proposal at the Bitcoin 2023 conference
Nike’s web3 platform, .SWOOSH, has reportedly generated over $1 million in sales from its first sneaker-themed non-fungible token (NFT) collection. The success of the sales suggests that the demand for well-designed shoes in the metaverse is high, despite some initial technical difficulties and delays. The .SWOOSH platform was launched in November 2022, with the aim
Gemini and Genesis have requested the dismissal of the Securities and Exchange Commission’s (SEC) lawsuit regarding their Earn product. The SEC had alleged that the contract setting up the Earn program was a security, but Gemini’s lawyer, Jack Baughman, has argued that the contract was never sold and therefore does not constitute a security. Earn
On May 26, Bitcoin (BTC) experienced a sudden increase in value when US macroeconomic data was released that showed a rise in Personal Consumption Expenditures (PCE) since October 2022. The pairing of BTC/USD climbed to nearly $27,000 on Bitstamp as a result. This reading was expected to be a challenge for risk assets, including cryptocurrency,
Heimdall, a provider of business tokenization solutions, has partnered with OPNX to launch a bankruptcy tokenization product. This product offers an alternative to the lengthy bankruptcy administration process that can take several years to resolve. It enables users with funds frozen on defunct platforms to access liquidity. Celsius, a cryptocurrency platform, was the first to
Microsoft President Brad Smith has called for the government to take a more active role in controlling the development of artificial intelligence (AI). Speaking at a panel discussion in Washington, Smith stated that AI may be the most consequential technological change in our lifetime and that the government needs to move faster to stay on
Binance, one of the world’s largest cryptocurrency exchanges, and Gulf Innova, a wholly-owned subsidiary of Gulf Energy, have been granted a digital asset operator license by Thailand’s Ministry of Finance. The two firms have been working together since 2022 to launch a compliant-first exchange in Thailand. The license paves the way for Gulf Binance to
Binance, a leading cryptocurrency exchange, has announced that it will stop Bitcoin spot trading activities with the Australian dollar from 1 June. In addition, the exchange will remove spot trading activities for other top cryptocurrencies, including Ethereum, XRP and Dogecoin, paired with AUD on the same day. Binance’s users can still trade the affected assets