The U.S. Federal Reserve is not rolling out a Central Bank Digital Currency (CBDC) anytime soon, according to Fed Chair Jerome Powell. During the Senate Committee on Banking, Housing and Urban Affairs hearing earlier this week, Powell discussed the central bank’s stance on a CBDC as the Biden administration urged continued research and evaluation of …
Monthly archives: March 2024
SEC Chair Gary Gensler Refuses To Comment on Whether Ethereum Is a Security, Likens Crypto to a Roller Coaster
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is declining to comment on whether smart contract platform Ethereum (ETH) counts as a security or a commodity. In a new interview with Bloomberg Television, Gensler says he does not want to answer questions about Ethereum’s classification as an asset amid anticipation of the regulatory agency’s …
Conflux Network Introduces AxHKD, Hong Kong Dollar-Backed Stablecoin
March 8, 2024 – Toronto, Canada Conflux Network – the only regulatory compliant public blockchain in China – today announces its pivotal role in assisting the successful beta testing of the HKD (Hong Kong Dollar)-backed stablecoin, AxHKD. Built by local fintech company AnchorX, the stablecoin will be launched on Conflux Network initially, followed by Ethereum. …
Continue reading “Conflux Network Introduces AxHKD, Hong Kong Dollar-Backed Stablecoin”
Zircuit Staking Program Breaks $500 Million TVL and Adds Ethena Integration
March 7, 2024 – George Town, Grand Cayman Zircuit, a ZK (zero-knowledge) rollup with parallelized circuits and AI-enabled security at the sequencer level, today announced its staking program has surpassed $500 million in TVL (total value locked). Currently in testnet phase, Zircuit is poised to hit a mainnet TVL on day one that surpasses major …
Continue reading “Zircuit Staking Program Breaks $500 Million TVL and Adds Ethena Integration”
$900,000 Up for Grabs As New Guaranteed Income Program Announced in Major US County
A new guaranteed basic income program is set to launch in the US, handing out $900,000 in no-strings-attached money to its participants. California’s Fresno County has selected Huron and the 93706 zip code, two communities that struggle with relatively high poverty rates, to participate in a program that will see its citizens receive $500 a …
Bitcoin sees violent volatility after hitting new ATH second time in a week
Bitcoin hit a new all-time high for the second time this week and once again experienced a violent sell-off that erased its gains and stirred memories of past volatilities in the crypto space. Bitcoin broke its previous record early in the US trading hours on March 8, climbing to an all-time high of $70,136 after …
Continue reading “Bitcoin sees violent volatility after hitting new ATH second time in a week”
BitMEX co-founder believes this stablecoin could flip Tether one day
Ethena, the protocol powering the USDe synthetic dollar, raked in $6.53 million in fees over the last 24 hours, cementing its position as the top fee-generating decentralized application (dApp) in the crypto space, according to data from DeFillama. Seraphim Czecker, Ethena Labs’ Head of Growth, shared insights from Token Terminal, affirming the project’s remarkable milestone. …
Continue reading “BitMEX co-founder believes this stablecoin could flip Tether one day”
Goldman Sachs upgrades Coinbase rating amid crypto surge and market dominance boost
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Important: You must lock a minimum of 20,000 ACS If you don’t …
Proof of Stake cut $21 billion ETH from circulation as deflation falls to 1.4%
The Ethereum network has seen a reduction of 417,413 ETH in supply since transitioning to a Proof-of-Stake (PoS) consensus mechanism in September 2022, per data from ultrasound.money. In the 540 days since The Merge, 1,509,991 ETH has been burned while the network has issued 1,092,578 new ETH, resulting in a net decrease. As of press …
Continue reading “Proof of Stake cut $21 billion ETH from circulation as deflation falls to 1.4%”
High volatility drives spot Bitcoin volume to $26 billion
What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Important: You must lock a minimum of 20,000 ACS If you don’t …
Continue reading “High volatility drives spot Bitcoin volume to $26 billion”
Email Shows Digital Currency Group and Gemini Explored Merger Before Genesis Bankruptcy
In an email found within the motion by Digital Currency Group (DCG) and Barry Silbert to dismiss the lawsuit initiated by the New York Attorney General, discussions of a potential merger between Gemini and Genesis were revealed before Genesis ultimately opted to declare bankruptcy. “Combined Gemini and Genesis would be a juggernaut and would be …
Goldman Sachs Reevaluates Coinbase, Eyes Neutral Stance Amid Crypto Surge
In a significant shift, Goldman Sachs has upgraded its rating on Coinbase shares from selling to neutral, citing a surge in crypto prices and record-breaking daily volumes. The adjustment to a $282 price target reflects the bank’s reassessment of the San Francisco-based crypto exchange’s revenue potential and operational strides toward profitability. Goldman Sachs Shifts Gears: …
Continue reading “Goldman Sachs Reevaluates Coinbase, Eyes Neutral Stance Amid Crypto Surge”
From Laughs to Loot: Meme Coins FLOKI and PEPE See Explosive Growth Amidst Crypto Surge
On Friday, bitcoin and ethereum experienced modest upticks, registering increases of 2% to 5%, respectively. Meanwhile, the meme coin FLOKI has soared by 70% in the last 24 hours, with PEPE also making notable gains of 32.7%. Friday saw around ten cryptocurrencies achieving double-digit increases, propelling the total crypto market valuation to $2.6 trillion. Crypto …
Bitcoin Sets New Record, Climbs Above $70,000 Mark; Ethereum Hits $4K Milestone
Bitcoin has once more surpassed its previous highest point of $69,210, established on March 5, 2024, as documented by Bitstamp. Currently, the digital currency holds steady above the $68,000 mark, having outdone its prior peak and ascended to $70,184 per coin. New Peaks: Bitcoin Tops $70,000 While Ethereum Briefly Crosses $4,000 The value of bitcoin …
Continue reading “Bitcoin Sets New Record, Climbs Above $70,000 Mark; Ethereum Hits $4K Milestone”
Ethena’s USDE Yield Hits 67%, Outpacing Most Stablecoin Returns
According to the most recent figures, Ethena’s USDE now boasts an APY of 67.2%, positioning it among the top annual percentage rates within the realm of stablecoin decentralized finance (defi). Furthermore, the supply of this stablecoin has expanded significantly, increasing by 414.6% in the last 30 days. Rapid Growth for Ethena’s USDE Currently, Ethena’s USDE …
Continue reading “Ethena’s USDE Yield Hits 67%, Outpacing Most Stablecoin Returns”