Crypto news

Republican Senator John Kennedy of Louisiana called banks “sophisticated Ponzi schemes” while discussing the US banking crisis that’s claimed multiple crypto-supportive financial institutions in the past two months.  The politician also spoke on the state of inflation, which he believes the Federal Reserve will need to bring to at least 8% to cool down.  Banks Are Ponzi Schemes? In an interview with CNBC that aired in full on Friday, Kennedy stressed that banks “exist on the...

The authorities of Israel have reportedly seized around 190 cryptocurrency accounts at Binance since 2021, saying some of those were tied to the terrorist groups – Hamas and Islamic State. The exchange claimed that Reuters (the media outlet that informed about the confiscation) is “deliberately leaving out critical facts to fit their narrative.” It asserted that anti-money laundering and preventing terrorist activities remain a key focus for the company. The Reuters/Binance...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Michael Saylor – the man behind software giant MicroStrategy and a major crypto bull – has paid off a $200 million+ loan obtained from the now failed crypto bank Silvergate and has purchased even more bitcoin units, thus bringing the company’s total BTC holdings to nearly $4 billion. Michael Saylor Won’t Give...

The growth of artificial intelligence technology is expected to increase the overall demand for fast-processing electronics. Foxconn Technology Co Ltd (Taiwan: 2354), one of the largest global employers in the electronics manufacturing industry and a major supplier to Apple Inc (NASDAQ: AAPL) announced a sales decline of 11.77 percent in April, YoY basis. However, the company’s revenue was in line with prior estimates, which came in at T$429.2 billion, approximately $14 billion. As the...

The broader cryptocurrency market failed to chart any notable changes in the past seven days, with the total capitalization remaining more or less what it was back then. This comes on the back of slight volatility in between, but nothing that could have been sustained. That said, there’s an obvious exception in the face of the freshly-minted and now-trending PEPE coin. Let’s dive in. Bitcoin is trading more or less where it was exactly seven days ago – at $29K. The...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Assets like bitcoin and Ethereum have soared in recent weeks, and the sudden bull run is causing many big financial players – such as Fidelity and BlackRock – to increase their stakes in the crypto space and try to do more with digital tokens. Bitcoin Could Give Rise to Further Tokenization The bull run has...

The announcement from Binance seems to have caused some excitement in the market as PEPE saw a surge of over 40%, while FLOKI increased by over 60%. Binance, the world’s largest cryptocurrency exchange, has confirmed the listing of Floki Inu (FLOKI) and PEPE in the Innovation Zone on its platform. According to the firm, a listing fee of 0 BNB applies to trade pairs featuring the duo of FLOKI and PEPE. As per a published statement, Binance also ascertained that by the latter part of today,...

Due to its commendable Q1 2023 streaming numbers, Warner Bros. Discovery expects its streaming business to stay profitable this year.  On Friday, May 5, Warner Bros Discovery (NASDAQ: WBD) reported its Q1 2023 earnings before the bell that came in mixed. For instance, the media and entertainment giant reported a significant overall loss despite raking in profit from its streaming endeavors. Warner Bros. Discovery lost $930 million in quarterly free cash flow even though its...

The central bank of Zimbabwe introduced this gold-backed digital currency to combat the volatility of its national currency. In a notice on Thursday, May 4, the Reserve Bank of Zimbabwe (RBZ) invited financial institutions and individuals to subscribe to its upcoming gold-backed digital currency. As per the initial plans, the gold-backed digital tokens will be available to investors starting May 8. The central bank also plans to sell these tokens at a minimum price of $10 for individuals...

This week, we take a closer look at Ethereum, Ripple, Cardano, Pepe, and Tron. Ethereum (ETH) This week, Ethereum has retested the support at $1,800. Buyers showed strength and did not allow the price to fall lower, which is why ETH is found at a similar level to last week due to low volatility. The current target for this cryptocurrency is $2,000, which is also a key psychological level. In April, ETH managed to break above it but quickly lost ground once sellers took over...