Monthly archives: May 2024

Senator Cynthia Lummis expressed deep concern regarding recent actions by the Biden administration, which she perceives as a threat to the principles of the Bitcoin network and the broader DeFi sector. In a statement released on May 1, Lummis criticized the Department of Justice’s (DOJ) latest legal interpretations, which argue that non-custodial software platforms — …

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Quick Take The Federal Reserve has opted to maintain the fed funds rate within the range of 5.25% to 5.50%. Preceding this decision, Bitcoin experienced a decline from approximately $64,000 to a low of around $56,500. Presently, Bitcoin is trading at approximately $58,000. BTCUSD: (Source: TradingView) Following the decision, notable movements have been observed in …

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Stablecoin issuer Tether (USDT) achieved a historic net profit of $4.52 billion in the first quarter despite facing a significant drop in market share. Record net profit According to the attestation report shared with CryptoSlate, the firm’s substantial profits chiefly originated from its US Treasury holdings, supplemented by gains from its Bitcoin and gold investments. …

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Former Binance CEO Changpeng Zhao (CZ) has expressed his gratitude to the crypto community for their support following his four-month U.S. prison sentence for pleading guilty to money laundering charges. “I will remain a passive investor (and holder) in crypto. Our industry has entered a new phase. Compliance is super important,” Zhao emphasized. CZ: Binance …

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In April, bitcoin miners amassed the second-highest monthly revenue of the past year, following the unprecedented earnings in March. In total, they collected $1.79 billion, which, although $220 million less than the previous month, still exceeded the revenues of December 2023, which totaled $1.56 billion. Bitcoin Miners Recorded Strong Revenue Last Month On May 1, …

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On Wednesday, May 1, 2024, the U.S. Federal Reserve chose to maintain the benchmark interest rates at their highest in 23 years. The Federal Open Market Committee (FOMC) members noted that although inflation has subsided, it still “remains elevated.” No Change in Federal Funds Rate; Fed Continues Watchful Eye on Inflation Risks On Wednesday, the …

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Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales. NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend As April concluded and May commenced, data reveals that NFT sales …

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