Fitch Solutions’ global head of country risk has named the rising adoption of cryptocurrencies, the de-dollarization efforts by the BRICS countries, and China’s rising “economic might” as key factors that erode the U.S. dollar’s dominance over time. He cautioned that China will “exert more influence in global financial institutions and trade.” Analyst Explains Why U.S.
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Gnosis Builders, developer of blockchain network Gnosis Chain, has announced a $5 million project to increase the number and diversity of validators through incentive mechanisms. The new project is called “Gnosis VIP,” according to an April 18 announcement from the company. As part of the new project, Gnosis is launching a “Geographic Diversity Program” that
Payward Europe Solutions, an Irish subsidiary of Kraken registered in Dublin, was awarded virtual asset service provider (VASP) authorization from the Central Bank of Ireland on April 18. We’re pleased to announce that Kraken has successfully registered with the Central Bank of Ireland (CBI) as a Virtual Asset Service Provider (VASP), affirming our commitment to
Patrick McHenry, chair of the United States House Financial Services Committee, jumped right into criticism of the Securities and Exchange Commission and its leadership over digital assets at an oversight hearing. In an April 18 hearing on oversight of the SEC, Representative McHenry used his opening statement to bring up the commission’s “punishing” of digital
United States Federal Reserve Board governor Michelle Bowman spoke at Georgetown University on April 18 to “offer a perspective” on central bank digital currency (CBDC). The Fed plays an important role in the conversation about CBDC, Bowman said. Her examination of the problems a CBDC might solve and the design and policy issues it entails
According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC’s designation of several crypto assets as securities, including the case against Terraform Labs, which insists
In a February interview with New York Magazine, Gary Gensler, chairman of the United States Securities and Exchange Commission, said that just about every crypto transaction, with the exception of Bitcoin spot transactions and buying or selling things with cryptocurrency, falls within the jurisdiction of the SEC. In the interview, when discussing what types of
Solana saw two positive developments this week with the launch of the Saga Android-based smartphone powered by Solana blockchain and the retail trading debut of Grayscale’s Solana Trust shares. The developments along with bullishness in the broader market, boosted the price of SOL by 29.05% from April 11 to a monthly high of $26.03. While
Bitcoin (BTC) price reclaimed the $30,000 support on April 18 after briefly testing $29,130 on the previous day. However, traders question whether the recovery is sustainable given the increased regulatory scrutiny, especially in the United States. Rostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC), said on April 14 that Binance intentionally broke
United States Senator Elizabeth Warren blamed the Bitcoin (BTC) mining industry for rising energy prices in American households based on unverified mainstream reporting. However, Crypto Twitter was not ready to let it slide and unanimously decided to clarify the disinformation. While Senator Warren has prominently spoken against the crypto ecosystem, the latest dig at Bitcoin
Bitcoin (BTC) returned above $30,000 on April 18 as volatility preceded the day’s Wall Street open. Bitcoin erases intraday losses Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as the pair suddenly added $500, delivering daily gains of more than 3%. The pair had previously worried traders, who watched as $30,000 support looked set
Ethereum’s Ether (ETH) token has entered a sharp price recovery a week after hitting a six-month low versus Bitcoin (BTC). On April 18, the widely-tracked ETH/BTC pair reached 0.0709 BTC, up about 15% from its local bottom of 0.0602 BTC six days ago. Now it eyes a run-up toward 0.075 BTC by June, based on
A court in Singapore has extended creditor protection for Babel Finance by another three months, Bloomberg reported on April 18. According to Babel co-founder and former CEO Flex Yang, the moratorium will now last until July 21, enabling the firm to pursue its restructuring plan via a new decentralized finance (DeFi) project known as Hope.
press release As the traditional banking system experiences growing instability with the failures of Silicon Valley Bank, Signature Bank, Silvergate Bank, and Credit Suisse, more individuals are turning to decentralized finance (DeFi) as a secure and attractive alternative. Verse DEX, Bitcoin.com’s decentralized exchange, has been flourishing as a result, enjoying a rapid surge in Total
A four-year-old video of United States Securities an Exchange Commission (SEC) chair Gary Genser giving praise to smart contract platform Algorand (ALGO) is circulating on Twitter following the SEC declaring ALGO is an unregistered security. In the video, Gensler referred to Algorand as a “great technology” while he was contemplating whether a “high performance” smart
Bitcoin (BTC) headed lower into the April 17 Wall Street open as downside began liquidating longs. Bitcoin price tipped for break below $29,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $29,247 on Bitstamp — its lowest in a week. Gains for Asian stocks failed to rescue the losses on the day,
The Bitcoin (BTC) Lightning Network has integrated into the corporate email address of Michael Saylor, a Bitcoin bull and co-founder of business intelligence software firm MicroStrategy. In an April 17 tweet, the former chief executive of the firm shared a screenshot with his 3 million Twitter followers of a few transactions sent to “saylor@microstrategy.com” from
According to statistics compiled by user @Henrystats on Dune Analytics, the number of accounts, or wallet addresses, for Ethereum layer-2 scaling solution Arbitrum (ARB) surpassed 5 million on Apr. 17. Aside from individual addresses, there are now more than four million active accounts in the ARB ecosystem with nearly 200 million transactions having been completed
The United Kingdom could “turbocharge” its crypto sector and be an “innovation hub for the Web3 economy” as part of a vision laid out by cryptocurrency exchange Coinbase. The comments by the exchange coincide with an April 17 Sky News report that the U.K. Treasury is set to revive the Asset Management Taskforce with a
The police service of the Canadian city of Calgary is launching a Cryptocurrency Investigations Centre in partnership with blockchain analytics firm Chainalysis to help combat crypto crime. The center “will enable law enforcement to tackle crime that takes place using blockchain technology,” Chainalysis described. Canada’s Cryptocurrency Investigations Centre The police service of Calgary, the largest