Crypto news

Crypto-supportive Republican policymakers Patrick McHenry and Cynthia Lummis provided the latest updates on digital asset legislation at Consensus 2023 – and they’re highly optimistic.  The former believes President Biden will have signed the first bill into law directly forming rules around cryptocurrency within the next 12 months.  Progress on the Lummis Bill During their panel discussion on Friday, Lummis began by clarifying that the next installment of her digital asset...

Stacks CEO Muneeb Ali spoke at Consensus 2023 on Friday about Bitcoin’s potential as a settlement layer, and the revival of developer culture within the community. Ali noted how a small, specific change to Bitcoin’s base layer could unlock a vast array of applications that can be built via layer 2 technology.  According to the developer, Bitcoin requires “very little modification” at its base layer to enable true “ZK rollups” – a layer two scaling solution for batching...

The world’s largest cryptocurrency exchange – Binance – aims to begin operating on the Japanese market after June this year.  This will mark the company’s return to the Land of the Rising Sun after leaving in 2018 due to regulatory issues.  Sakura Exchange BitCoin (SEBC) announced that Binance Japan will start providing services and products to local customers after June 2023.  The crypto giant acquired SEBC in November last year for an undisclosed sum to strengthen its...

Former NSA contractor Edward Snowden spoke at Consensus 2023 regarding the latest developments in artificial intelligence, and how it could be leveraged for both human flourishing and greater surveillance.  Snowden called out OpenAI’s “cruel joke” in branding itself with the name that it chose, given that it won’t provide open access to its training data. He said that Stable Diffusion is guilty of similar activity, deliberately crippling its training set from version 1.5 to...

The armed wing of the alleged terrorist organization Hamas – Al-Qassam Brigades – will reportedly stop receiving donations in bitcoin out of concern for the safety of the contributors.  The Israeli authorities have previously estimated that the entity funded some of its military campaigns through cryptocurrencies. The Defence Ministry seized over 100 digital wallets associated with the group over the past few years. Going Back to Traditional Methods A local media...

Brian Armstrong, the chief executive officer of American crypto exchange Coinbase, and the company’s chief legal officer, Paul Grewal, have responded to a Wells Notice issued by the U.S. Securities and Exchange Commission (SEC) weeks ago in preparation for enforcement action. In a recent YouTube video, the Coinbase executives insisted that the SEC’s notice was unnecessary. The U.S. government has yet to develop clear rules for the crypto industry, and the exchange’s...

SocialFi platform Lynk set to launch its exclusive Node NFT Program to foster the growth of a decentralized Web3 community Lynk is setting the stage for a new era in decentralized community governance with the introduction of its Node NFT Program. Aimed at empowering early adopters, this groundbreaking initiative is expected to facilitate the growth of a vibrant community in Web3, while showcasing the company’s commitment to innovation and inclusivity. The SocialFi...

With Bitcoin currently trading at $29,150, the asset will need to appreciate by over 3000% for Balaji Srinivasan – former CTO of Coinbase – to win his $1 million Bitcoin bet by June 17.  The investor and entrepreneur spoke at Consensus 2023 about his motivations and rationale behind the bet, and the likelihood that he may actually be right. Is $1 Million Bitcoin Still in Play? Before the Consensus Mainstage via video on Friday, Balaji reminded the audience that the great...

What a week it has been. The cryptocurrency market went on a massive rollercoaster where the market cap ping-ponged tremendously. At the end, it turned out somewhat fine, but what a ride it was. Let’s unpack. First things first, Bitcoin’s price was trading quietly around $27,500 throughout the beginning of the week, but all that changed on April 26th when it soared toward $28,500. After spending a few hours there, it was up only once again. BTC touched $30K and sent the...

Elon Musk is pushing bitcoin and other digital currencies in the midst of the U.S. banking crisis and recently posted a tweet in which he makes fun of criminal-in-chief Joe Biden. Elon Musk Takes Issue with Biden Not long ago, the phony president of the United States issued comments on social media talking about his administration’s climate change achievements. This is the first sign that something is wrong. The banks are failing, the economy is in shambles, people are...