On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat currencies like the yen, yuan, and pound have struggled against the greenback during the past six
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Bitcoin (BTC) underwent a weak rebound on Sept. 21, and the U.S. dollar jumped to a new yearly high as investors await Sept. 21’s Federal Open Market Committee’s interest rate decision. BTC price holds $19K ahead of Fed decision BTC’s price has managed to cling on to $19,000 with a modest daily gain of 1.33%
Bitcoin (BTC) mining hosting firm Compute North has filed for chapter 11 bankruptcy amid growing pressure on the firm due to the effects of crypto winter and rising energy costs. The firm’s CEO Dave Perrill has also stepped down but will remain on the board. The company submitted a Chapter 11 bankruptcy filing in the
With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service (IRS) could properly collect cryptocurrency tax. U.S. Attorney Damian Williams, Deputy Assistant Attorney General David Hubbert and IRS Commissioner Charles Rettig announced that US judge Paul Gardephe
Crypto mixer Tornado Cash has returned to the software development platform GitHub after several weeks of being banned on the website. Ethereum developer Preston Van Loon took to Twitter on Thursday to report that GitHub has partly unbanned the Tornado Cash organization and contributors on their platform. The developer suggested that Tornado Cash’s code repositories are
As expected, Ethereum has been doing poorly since the much-touted Merge event. This was a groundbreaking moment for the crypto industry. Although the Merge was anticipated to boost investor confidence, it occurred at the worst possible time. The Merge took place at an interesting point in crypto history. The update went up on September 15—just
A Bitcoin (BTC) on-chain indicator, which tracks the amount of coin supply held by long-term holders (LTHs) in losses, is signaling that a market bottom could be close. Eerily accurate Bitcoin bottom pundit As of Sept. 22, approximately 30% of Bitcoin’s LTHs were facing losses due to BTC’s decline from $69,000 in November 2021 to
Australian crypto entrepreneur and investor Fred Schebesta has described the Australian government’s prioritization of token mapping as “wonderful,” but warns that rushing it could lead to detrimental effects on the economy. Schebesta’s comments come after Australian Treasurer Jim Chalmers released a statement on Aug. 22 stating that the “treasury will prioritize token mapping work” in
Bitcoin’s (BTC) and Ether’s (ETH) agonizing 60% and 66% respective drops in price are drawing a lot of criticism from crypto critics and perhaps this is deserved, but there are also plenty of stocks with similar, if not worse, performances. The sharp volatility witnessed in crypto prices is partially driven by major centralized yield and
Cryptocurrencies have been in a bear trend since mid-August after they failed to break above the $1.2 trillion market capitalization resistance. Even with the current bear trend and a brutal 25% correction, it has not been enough to break the three-month-long ascending trend. The crypto markets’ aggregate capitalization declined 7.2% to $920 billion in the
JPMorgan Chase CEO Jamie Dimon said in a U.S. congressional hearing that crypto tokens, like bitcoin, are “decentralized Ponzi schemes.” He told lawmakers: “I’m a major skeptic on crypto tokens which you call currency.” JPMorgan CEO Jamie Dimon Calls Crypto Ponzi Schemes Jamie Dimon, the CEO of JPMorgan Chase & Co., shared his view about
Ethereum funding rates had taken a beating after the Merge was completed. This event was the single most anticipated upgrade in the history of the network, and it had affected both price and funding rates in adverse ways. However, as the market begins to settle into the new normal of Ethereum being a proof of
Crypto markets are flashing a bit of green on Sept. 22 as Bitcoin (BTC) price tacked on a 4.7% gain to trade above $19,300 and Ether (ETH) surged 6.5% to recapture the $1,300 level. RSR and Astar Network (ASTAR) also surged by 23% and 17% respectively, but the more notable mover of the day was
The FOMC meeting held on Wednesday and its subsequent results deeply affected the state of the crypto market. Given the large swings in price during and after the meeting, liquidation volumes had quickly risen across the market. Tens of thousands of traders were caught in the crossfire in what has come out to be the
In this week’s episode of Market Talks, we welcome Yashu Gola, a Mumbai-based financial analyst and technology journalist at Cointelegraph with a strong focus on Bitcoin (BTC), smart contracts, exchange assets, nonfungible tokens, commodities and global stocks. Gola has been covering the cryptocurrency industry since 2014 and does not expect to stop anytime soon. First
According to regional news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies over the past two years due to tax arrears. The country’s politicians enacted regulations allowing for the seizure of digital currencies for tax delinquencies and began enforcing them last year. One individual living
Fantom (FTM) is known for its speed and inexpensive layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVAX)) that scale better than their counterpart, it has been dubbed an “Ethereum killer.” After raising $40 million in funds, Fantom launched its mainnet in December 2019. Since then, it has grown to become one
Increasing numbers of employees are quitting 9–5 corporate jobs to work for DAOs. While the money’s great, DAOs fall into a legal gray area, and it can be tricky to get your foot in the door. Researchers Nataliya Ilyushina and Trent MacDonald from the Royal Melbourne Institute of Technology Blockchain Innovation Hub take you through
On the first day after the Merge, the decentralized finance (DeFi) community is settling into the seemingly uneventful transition of the Ethereum network from proof-of-work (PoW) to proof-of-stake (PoS). However, it has yet to be seen the benefits that hard forks will bring to PoW supporters. So far, the most important contending networks in favor
Ethereum’s Merge on Sep. 15 turned out to be a sell-the-news event, which looks set to continue. Notably, Ether (ETH) dropped considerably against the U.S. dollar and Bitcoin (BTC) after the Merge. As of Sep. 22, ETH/USD and ETH/BTC trading pairs were down by more than 20% and 17%, respectively, since Ethereum’s switch to Proof-of-Stake (PoS. What’s eating