Crypto news

The Council fo Economic Advisors showed outright disregard for the purported benefits of Bitcoin and other cryptocurrencies in the President’s Economic Report released on Tuesday.  The report claimed that cryptocurrencies lack fundamental value, and also do not “act as effective alternatives to money.” Crypto: Expectations VS Reality The White House report included two dedicated sections pertaining to digital assets: one titled “The Perceived Appeal of Crypto Assets,” and the...

Despite fears surrounding the US banking sector, the Fed has followed through on its plans to quell inflation with an interest rate hike of 25 basis points on Wednesday. The decision notably affected the price of Bitcoin, which pumped $300 within 5 minutes of the announcement. Bitcoin started the day trading at $28,216, before rising to $28,417 ahead of FOMC.  The asset then broke upwards to $28,752 following the interest rate decision. It trades for $28,480 at writing...

Irrespective of its current leanings, the Federal Reserve will implement additional rate hikes to correct the strain that is still being felt in the economy by the average consumer. The United States Federal Reserve through the Open Market Committee (FOMC) has increased its interest rate by 25 basis points (0.25%). The rate hike was as expected and it was implemented despite the recent bank failures that have caused a crisis of confidence in the financial sector. The days leading up to...

No doubt the FTX debacle and the arrest of its founder and chief executive Sam Bankman-Fried will go down as some of the biggest problems to ever strike the crypto space, but according to a new report, it appears the damage caused by FTX and its irresponsible (and selfish) employees may have been even greater than what analysts initially thought. The Trouble Surrounding FTX Might Have Done More Damage The document in question suggests that as much as $200 billion was...

Multi-chain non-fungible token (NFT) marketplace Magic Eden has launched a “fully audited” marketplace on the Bitcoin network as interest in Ordinal NFTs continues to grow. In a press release, Magic Eden said it released the marketplace in honor of Bitcoin’s culture. Riding on the “lightning pace of adoption” that followed the launch of the Ordinal theory, the platform aims to empower collectors and creators, giving them access to appropriate tools. Magic Eden Catches Ordinal...

Leading bank Goldman Sachs has deployed ChatGPT-like AI products for developers to experiment with code development. Goldman Sachs (NYSE: GS) is reportedly using in-house artificial intelligence (AI) to assist developers with writing code. A top executive at the New York-based banking giant revealed this to the public. According to Goldman Sachs chief information officer Marco Argenti, the AI development is currently in a “proof of concept” stage. Argenti further stated that Goldman Sachs’...

Last year, a company called Classic Parade announced it was going to let crypto fans rent their classic cars using crypto. Now, the company is taking things a step further by introducing a brand new digital currency payment system. Classic Parade Continues Its Crypto Journey Based in the United Kingdom, Classic Parade offers a wide array of classic and luxury vehicles individuals can rent. Andrew Brown – the founder and owner of Classic Parade – explained in a recent...

Hackers have managed to infiltrate the Twitter account of a Circle executive to falsely state that the stablecoin issuer was conducting a USDC airdrop. The fake airdrop leads to a phishing website likely designed to steal users’ tokens. Circle CEO Jeremy Allaire confirmed that the Twitter account belonging to Dante Disparte, the company’s chief strategy officer and head of global policy, was hacked. Perpetrators used Disparte’s account to announce a fake USDC airdrop to the...

The transition of the MultiVersalME brand has already begun and is expected to be completed by the end of this first quarter. Emerging Web 3.0 startup MetaMetaverse has announced its new brand identity dubbed MultiVersalME, a move it believes will capture the scope of its innovation as a global metaverse brand. According to a press release shared with Coinspeaker, MultiVersalME will be making its debut with a completely new website and theme. According to the firm, its users can now access...

[PRESS RELEASE – Los Angeles, United States, 22nd March 2023] GDC 2023 is finally in full swing, and a mysterious Oscars-style red carpet and stage are piquing the interest of global game developers. Thanks to a gamer grandma and her robotic feline buddy, this year, for the first time, game-makers of all sizes will have the chance to share the limelight and promote their games on stage, live stream, and on social media. Located in the prime location of the Moscone South lobby...