The firm chose to expand into Abu Dhabi due to the innovation-friendly crypto regulations.
Prime Minister Spajic was among the early investors who invested in Terraform Labs just days before it was registered in Singapore on April 23, 2018.
The memecoin whale made an over 1,428% return on his initial investment in the Trump token.
The billionaire investor also intimated that any political aspirations Gensler had would amount to nothing due to the SEC chairman’s stance against cryptocurrency
The $100 billion mark took just 10 years with the bulk raised since the COVID-19 pandemic.
The world of memecoins has entered a bizarre new chapter, fueled by the outlandish antics of celebrities and questionable financial ventures. The latest episode features rapper Lil Pump, whose recent social media activity has left the crypto community scratching their heads and wondering – is this a stroke of marketing genius or a recipe for […]
MicroStrategy upsizes its convertible senior notes offering to $700 million, earmarking proceeds for Bitcoin purchases and corporate purposes.
In a significant regulatory shift, the US Securities and Exchange Commission (SEC) partially approved the long-awaited Ethereum ETF filings submitted by prominent asset managers three weeks ago, including BlackRock and Grayscale. SEC Chairman Gary Gensler has indicated that full approval for these Ethereum ETFs could come by the end of the summer, providing much-needed clarity […]
The association was formed after the country’s Justice Ministry proposed AML amendments for crypto firms that could result in penalties, including up to two years in prison.
The Australian government has cracked down on online gambling by banning crypto and credit card use for online bets. The measure comes as an effort to reduce investors’ losses in the country. Related Reading: Solana-Based DePIN Project CEO Steps Down Ahead Of Token Launch Australian Gov’t Bans Use Of Crypto In Online Gambling On Monday, […]
As the financial markets brace for the upcoming Federal Open Market Committee (FOMC) meeting on Wednesday, June 12th, the Bitcoin and crypto community is poised to assess the implications of any Federal Reserve announcements on digital assets such as Bitcoin. With the consensus forecast suggesting that the Federal Reserve will hold the federal funds rate steady at 5.25%-5.50%, the primary interest of investors has turned to the nuances of the Fed’s forward guidance and economic projections. Crypto analyst Tomo (@Market_Look) shared his insights on X, framing the upcoming FOMC meeting as a non-event for those expecting drastic moves. He stated, “Interest rates are likely to remain unchanged (5.25%-5.50%). There will likely not be any major changes to the statement or economic outlook, and the dot chart is expected to shift in a hawkish direction.” Tomo also highlighted the anticipated adjustments in the rate projections for the coming years, noting, “In 2024, the rate will shift from 3 cuts to 2 cuts. The hawkish surprise will be 1 cut.” He explained that the market has already priced in these expected adjustments, suggesting minimal surprise and limited market volatility in response. Related Reading: Hedge Funds Heavily Betting For Bitcoin To Fall: Will This Strategy Fail? “As of March, the distribution of dots for 2024 is 9 people in favor of keeping interest rates unchanged or cutting them twice, and 10 people in favor of cutting interest rates three or more times… a shift from three to two is already factored in.” Banking giant ING’s team of economists, including James Knightley and Padhraic Garvey, CFA, share a similar conservative outlook on the Federal Reserve’s potential moves. They anticipate that the Fed will underscore its cautious stance due to persistent inflation and strong employment figures, potentially delaying rate cuts further into the future. The ING team elaborated on their expectations, “The US Fed accepts that monetary policy is restrictive, but lingering inflation and strong jobs numbers mean it will indicate it’s prepared to wait longer before seriously considering interest rate cuts.” They anticipate that the dot plot, which will reveal individual FOMC members’ rate predictions, will show a reduction in the number of projected rate cuts for 2024 from three to possibly one or two. According to Nick Timiraos of the Wall Street Journal, JPMorgan and Citigroup have withdrawn their predictions for a rate cut in July following the recent jobs report last Friday. Currently, the majority of sell-side economists and other experts monitoring the Federal Reserve anticipate one or two rate reductions in either September or December of this year. JPM and Citi scrapped their calls for a July rate cut after last Friday’s jobs report. Most sell-side economists and other professional Fed watchers now anticipate one or two rate cuts this year in either September or December pic.twitter.com/x9tUD06Pmi — Nick Timiraos (@NickTimiraos) June 10, 2024 Impact On Bitcoin And Crypto Bitcoin and the broader crypto market have been quite sensitive to macro economic data recently. The anticipation of a dovish turn—particularly any hints of rate cuts—could weaken the dollar and bolster Bitcoin and other digital assets as alternative investments. Related Reading: Buy Or Sell Bitcoin Now? Analyst Reveals Ultimate Bias Guide Conversely, a reaffirmation of the current rate or a less dovish stance than expected could strengthen the dollar and apply downward pressure on crypto markets. However, the nuanced perspectives of FOMC members, as reflected in the dot plot and the accompanying economic projections, could provide clues about the medium-term trajectory of US monetary policy, which in turn could affect investor sentiment in the crypto markets. A hawkish tilt, suggesting fewer or delayed rate cuts, might strengthen the US dollar and put downward pressure on Bitcoin and other cryptocurrencies. Conversely, any dovish signals or indications of a softer stance on rate increases in the near future could buoy the crypto market. During the FOMC press conference, Chair Jerome Powell’s remarks will be crucial for setting the tone and expectations. Market participants will closely analyze his comments for any shifts in tone regarding inflation, economic growth, and future monetary policy adjustments. The interpretation of these remarks could lead to significant price movements in the Bitcoin and crypto markets. Moreover, the US Consumer Price Index (CPI) data for May 2024 just hours before the FOMC meeting will be critical. These data points will provide essential context for the Fed’s decisions, influencing their assessment of whether the current policy stance remains appropriate. At press time, BTC traded at $67,707, down -3.5% since yesterday’s high at $71,200. Featured image from Shutterstock, chart from TradingView.com
In a significant move reflecting its confidence in future growth, Core Scientific, one of North America’s leading operators of high-powered digital infrastructure for Bitcoin mining and hosting services, has rejected a non-binding acquisition proposal from CoreWeave. Related Reading: Crypto Chaos: 70% Of Dead Korean Exchanges Leave Investors High And Dry Core Scientific Rejects ‘Undervaluation’ The […]
During a San Francisco fundraiser hosted by tech venture capitalists David Sacks and Chamath Palihapitiya, former President Donald Trump positioned himself as the champion of crypto and criticized the Democratic party’s regulatory efforts in the sector. Donald Trump Raises $12 Million In Race For White House According to Reuters, the event was held at Sacks’ […]
Robinhood’s $200 million acquisition deal comes despite receiving a Wells notice from the SEC a month earlier.
Bitcoin price may be closer to the big milestone $100,000 mark than many realize as a looming banking crisis could see BTC become the new "safe haven asset."
Former US President Donald Trump’s crypto portfolio has surged to nearly $26 million, primarily due to the recent airdrop of a new memecoin. This dramatic increase was highlighted by the crypto intelligence platform Arkham, which revealed via X: “Donald Trump’s memecoin holdings have just doubled, to over $20M. Donald Trump was airdropped half of the […]
The University of Austin (UATX), set to welcome its inaugural class this fall, has embarked on a new venture by collaborating with cryptocurrency platform Unchained. Their joint goal is to raise $5 million in Bitcoin (BTC) to contribute to UATX’s long-term fund. According to a Bloomberg report, UATX sees Bitcoin as a unique opportunity to […]
Notcoin became the fifth most-traded cryptocurrency on Monday, beating the trading volume of Circle’s USDC stablecoin, as social interest continues to drive its price action.
In a recent filing, US-based cryptocurrency exchange Coinbase has made sharp accusations against the US Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, claiming their actions aim to stifle the cryptocurrency sector. The filing comes amid an ongoing legal battle between Coinbase and the SEC, which alleges that the exchange engaged in unregistered […]
DMM Bitcoin, one of Japan’s largest cryptocurrency exchanges, recently suffered a major setback when it reported a loss of 48 billion yen ($305 million) in Bitcoin (BTC) due to a security breach. The incident, discovered on May 31, 2024, revealed the illegal leakage of BTC from a DMM Bitcoin wallet. As a result, several services […]
Experts say BTC and ETH derivatives will be instrumental in integrating crypto to TradFi and sending each to new all-time highs.
Babylon, a crypto startup co-founded by Stanford University engineering Professor David Tse, has secured $70 million in its latest funding round, according to a Bloomberg report. The company reportedly aims to bridge the gap between Bitcoin (BTC) and Ethereum (ETH), the two leading cryptocurrencies. Bitcoin As A Staking Asset Per the report, the funding round was […]
In a bold move that has sent its stock price soaring, medical device company Semler Scientific Inc. has announced that it has allocated a significant portion of its cash reserves to Bitcoin (BTC). According to Bloomberg, the San Jose, California-based firm purchased 581 Bitcoin for a total of $40 million, including fees and expenses. Semler […]
The trader made an over 400-fold return on his initial investment, which was worth a little over $2,600.
The crypto market is witnessing the rapid ascent of Turbo (TURBO), a memecoin conceptualized and executed with the assistance of OpenAI’s ChatGPT, which has now reached a market capitalization of $607 million, making it the 229th largest cryptocurrency by market cap. This marks a significant event in the crypto community, reflecting a growing interest in […]
A cat video filmed 20 years ago by former YouTube chief technology officer Steve Chen is now the basis for a memecoin with a market capitalization of more than $20 million.
Ether price could be on track to new all-time highs, provided it can close the week above the $4,000 mark.
The world of cryptocurrency is no stranger to the bizarre, but this week, a Solana memecoin developer took things to a fiery new extreme. Mikol, the founder of the newly launched “Truth or Dare” (DARE) token, is recovering in a Miami hospital after suffering third-degree burns during a livestreamed stunt gone horribly wrong. This incident […]
Paul Grewal, Coinbase’s chief legal officer, announced that New York users of the exchange can once again trade XRP.
With StepN Go, users are now able to share their digital sneakers with friends and split the earnings with the new token, the Go Gaming Token.