Popular crypto analyst Nicholas Merten is outlining what he thinks is the “worst-case scenario” for Bitcoin (BTC) and Ethereum (ETH). Merten tells his 516,000 YouTube subscribers that the possibility of BTC dropping to $10,000 or even $20,000 is “completely out of the question.” The crypto analyst points to a chart displaying Bitcoin and Ethereum’s combined …
Monthly archives: May 2022
Billionaire Paul Tudor Jones Warns of Economic Disaster, Says Hard Not To Be Crypto Bull Currently
Hedge fund billionaire Paul Tudor Jones is warning of a steep financial test in advance of the Federal Reserve’s upcoming rate hike meeting on Wednesday. In a new interview with CNBC, Jones says the US economy is facing its biggest test since the 1970s and compares the challenges facing the Fed to an ocean-faring ship …
This Fundamental Bitcoin Feature Will Bring In Next Wave of Investors, According to BTC Bull Anthony Pompliano
Crypto influencer Anthony Pompliano is unveiling a feature of Bitcoin (BTC) that he believes will drive the next wave of its adoption. In a new episode of the Best Business Show, Pompliano tells his 379,000 YouTube subscribers that the transparency of Bitcoin’s on-chain data will attract more BTC investors and traders. “On-chain [data] is not …
MicroStrategy may explore ‘future yield generation opportunities’ on 95,643 BTC holdings
Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy. In MicroStrategy’s report for the first quarter of 2022 released on Tuesday, the firm said it “may conservatively explore future yield generation opportunities on unencumbered MacroStrategy bitcoins” as a consideration following a $205 …
Ex-Fed vice-chair Quarles has lost none of his fervor in opposing US CBDC
Former United States Federal Reserve vice-chair for supervision Randal Quarles discussed central bank digital currencies (CBDC) and the chances of the U.S. adopting such technology in an interview on the “Banking With Interest” podcast Tuesday. Quarles, who is known for his opposition to a CBDC, expressed his skepticism about the so-called digital dollar and predicted the …
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Markets are weak, but ALGO, FXS and HNT book a 20%+ rally — Here’s why
Large-cap cryptocurrency continue to slump as investors await comments from the Federal Open Markets Committee regarding the exact size of the next interest rate hike. There are, however, a few bright spots in the market and select altcoins managed to post double-digit gains in trading on May 3, thanks to a big-time partnership announcement and …
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Bitcoin’s hash rate surges despite persistent economic uncertainty
CoinWarz shows the Bitcoin hash rate continues to explode, hitting a new all-time high of 270 EH/s on Monday before settling around the 220 EH/s today. A rising Bitcoin hash rate indicates the number of miners on the network is growing. This is often taken as a measure of growing miners’ confidence in BTC. Source: …
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Report: Crypto mortgages are too risky
A new Weiss Rating report has warned about the risks of having mortgages backed by cryptocurrency, especially in the world’s current economic situation. The Florida-based research firm analyst Jon Markman, in the report, identified the poor performance of crypto and stocks this year, plus the rising interest rates, alongside the policy changes of the Federal …
DeFi TVL drops below $200 billion as major protocols falter
The total value of assets locked in decentralized finance protocols has dropped below $200 billion, continuing the poor performance which has seen the space lose over 20% of its value since the year began, according to data from DeFiLlama. Major protocols shed TVLs Between the end of April and the beginning of this month, DeFi’s …
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Uganda Central Bank Tells Licensed Entities to Stop Facilitating Crypto Transactions
The Ugandan central bank has warned licensed entities and the public against facilitating crypto-related transactions as well as the practice of converting cryptocurrency into mobile money and vice versa. The central bank warned it will not hesitate to act against entities found to be in breach of the country’s laws. No Entity Issued License to …
Report: 100,000 Cubans Are Using Cryptocurrencies to Bypass Financial Sanctions
On May 2, 2022, a report stemming from the broadcast television and radio network the National Broadcasting Company (NBC), 100,000 Cubans are leveraging crypto assets. The report says increased crypto usage is due to the fact that Cubans cannot use certain payment vehicles due to the sanctions placed on Cuba by the United States. 100,000 …
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Weiss Ratings Report Claims Crypto-Backed Home Loans Spell Trouble
A report published on May 2 by the rating agency Weiss Ratings warns that crypto-backed mortgages “spell risk.” Weiss editor Jon D. Markman said backing a mortgage with crypto is an “interesting strategy,” but stressed that during these market conditions “investors should be skeptical.” Weiss Ratings Editor Doesn’t Believe Crypto and Mortgages Mix According to …
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Banco Galicia Becomes First Bank to Introduce Crypto Trading in Argentina
Banco Galicia, one of the largest financial institutions in Argentina, has introduced cryptocurrency trading as part of the services it is currently offering to customers. Users interested in investing in cryptocurrency are already able to purchase four different crypto assets directly from the home banking app of the financial institution, making it reportedly the first …
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Belgium Introduces Registration for Crypto Exchange and Wallet Service Providers
Authorities in Belgium have obliged providers of some crypto exchange and wallet services to register with the country’s financial watchdog. Targeted platforms that fail to comply with the new regulations will face fines, among other penalties, including prohibition to carry out their respective activities. Financial Regulator Imposes Mandatory Registration for Crypto Exchange Service Providers in …
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Cryptovoxels Is Rebranding to Voxels
press release PRESS RELEASE. Cryptovoxels, one of the most significant players in the metaverse space, is rebranding to Voxels. The rebrand will happen on May 3rd at 8pm EDT (May 4th at noon New Zealand time). One of Web 3’s most popular communities, Cryptovoxels is a metaverse on the Ethereum blockchain where players can own …