Tag Archives: AA News

Balaji Srinivasan – the popular venture investor and Coinbase’s former Chief Technology Officer (CTO) – believes Bitcoin Maximalism is due to gain steam as a philosophical and economic belief system. In a Twitter post on Wednesday, the entrepreneur argued why faith in the existing financial system is bound to erode over time as the U.S. dollar inflation pushes a new generation into Bitcoin. Unstoppable Inflation According to the U.S. Bureau of Labor Statistics, twelve-month...

São Paulo-based Nubank announced the launch of a new feature that allows withdrawals and deposits of Bitcoin and cryptocurrencies. With this latest move, customers will now be able to send and receive Bitcoin, Ethereum, and Solana using the Nubank app. The withdrawal and deposit options are now available, allowing users to check the functionality on the app’s main crypto screen. Nubank Adds Bitcoin and Cryptocurrency Features to App The launch includes an initial selection of...

Bankrupt cryptocurrency exchange FTX is looking to offload its remaining Solana native tokens, SOL, via an auction this week. According to a Bloomberg report, people familiar with the matter said the bankruptcy estate would auction an unspecified amount of SOL in the hopes of receiving a higher price than that which they would have gotten through direct sales. FTX to Sell SOL Via Auction The blond auction represents a shift from the fixed-price sales the bankruptcy estate has...

The creator of the popular ‘Bitcoin Power Law’ has unveiled a chart detailing his price model’s exact BTC price targets for the next several market cycles. The model predicts that Bitcoin will reach $218,875 at its cycle peak in November 2025, before descending to $96,677 at its bottom in December 2026. What Is The Bitcoin Power Law? The Bitcoin Power Law is a long-term price model that forecasts Bitcoin’s future market value as if it were bound by the laws of physics. The...

Tether has announced that all wallets associated with Venezuela’s attempts to bypass U.S. sanctions on oil exports will be frozen. The decision follows recent reports indicating an increased use of Tether’s USDT by Venezuela’s state-run oil company, PDVSA, to avoid sanctions imposed by the United States. Venezuela’s PDVSA Turns to Tether Amid Sanctions According to a Reuters report, Venezuela’s state-run oil company, PDVSA, transitioned to using Tether’s USDT after facing...

Jack Dorsey’s fintech company Block Inc. announced on Tuesday that it has completed the development of its advanced Bitcoin mining chip, marking an important milestone for the firm’s mining project. Decentralizing Bitcoin Mining Per a statement shared by Dorsey over Twitter, Block’s three nanometre (3mn) Bitcoin mining chip is now in the process is completing its full design tapeout with a leading semiconductor foundry. “Our mining chip will utilize the most advanced...

Venezuela’s state-owned oil and gas company PDVSA is reportedly planning to speed up its use of crypto, particularly USDT, the largest stablecoin by market capitalization, to circumvent US sanctions. The Venezuelan oil company gradually started integrating USDT for oil sales in 2023, and reportedly has a new policy in place mandating new customers to have a digital wallet holding cryptocurrency. Venezuela Turning to USDT for Oil Exports According to Reuters, PDVSA’s intention...

While bitcoin’s performance over the last couple of years has been nothing short of spectacular, the latest analysis suggests that the world’s largest cryptocurrency has failed to attract safe-haven flows. This was evident in the case of an increased demand for such assets following the escalating conflict in the Middle East, according to Kaiko. Bitcoin Struggles to Capture Safe-Haven Status While gold and the US dollar have rallied, bitcoin’s value dropped by 6% in April....

Terraform Labs (TFL) and its founder, Do Kwon, are under pressure to pay $5.3 billion in cumulative damages for fraud related to their now-defunct Terra blockchain. In a filing dated April 19, the U.S. Securities and Exchange Commission (SEC) requested that Kwon and his company be ordered to pay ~$4.2 billion in disgorgement and ~$546 million in pre-judgment interest after losing its lawsuit against the regulator on all counts earlier this month. The Largest Crypto Fine...

Bitcoin halving concerns triggered the 11th consecutive week of outflows from the blockchain equities. According to data compiled by CoinShares, blockchain equities experienced $9 million in withdrawals as investors worried about halving the impact on mining companies because it can affect their profitability and, subsequently, the value of their investments in those firms. The latest halving saw the mining reward slash to 3.125 BTC. If mining becomes less profitable as a...