Bitcoin News

Bitcoin (BTC) headed toward $28,000 support after the May 1 Wall Street open as markets digested fresh United States banking jitters. Suspicions mount over First Republic contagion Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to multi-day lows at the time of writing. The pair continued a comedown that began after the weekly

JPMorgan Chase emerged as the winner in the auction to acquire the deposits and a “substantial majority of assets” of the troubled bank First Republic. This marked the failure of the third regional bank in the United States since March and laid open the vulnerabilities in the legacy banking system. Meanwhile, Bitcoin (BTC) has risen

Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal government. Despite the potential challenges, Munger emphasized that the

Bitcoin started the week trading in the red, as markets prepared for an important week of U.S. economic events. On Wednesday, the Federal Reserve is expected to increase rates by 25 basis points, with nonfarm payrolls for April being released this coming Friday. Ethereum was also lower in today’s session. Bitcoin Bitcoin (BTC) continued to

On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable to meet its obligations. Following the seizure, JPMorgan Chase submitted the winning bid

The Kingdom of Bhutan is bullish on Bitcoin (BTC). Following the revelation that the small Himalayan Kingdom has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations. Known for its focus on “Gross National Happiness” and picturesque landscapes,

Singapore’s government-owned investment firm Temasek continues investing in cryptocurrency projects even after losing hundreds of millions of dollars to the collapsed FTX crypto exchange. Temasek has invested $10 million in Array, the developer of an algorithmic currency system based on smart contracts and artificial intelligence. Announcing the news on May 1, Array said that the

After the most recent increase in the federal funds rate, the U.S. Federal Reserve is set to raise the lending rate by 25 basis points (bps) to 5.25% in three days, according to expectations. A recent poll of 105 economists revealed that 94 of them predict a 25bps rate hike will occur during the May

Sales of non-fungible tokens (NFTs) have declined by 5.76% over the past 30 days, according to the latest NFT sales statistics. The data reveals that the sales figure stood at $732.13 million in April, which is $44.75 million lower than the $776.88 million recorded in March. NFT Sales Decline by 5.76% in April, Ethereum Dominates,

Pepe (PEPE), the meme coin featuring the popular character Pepe the Frog, has experienced a significant surge in value in the past week, rising by 152.9% against the U.S. dollar. Recent statistics indicate that PEPE’s market capitalization has surged from $141 million on April 22 to a current valuation of $303 million. PEPE Jumps 99%

The chairman of the State Duma Committee on the Financial Market says that an agreement on the BRICS currency can be reached in 2023 as BRICS nations ramp up their de-dollarization efforts to shift away from U.S. dollar reliance. “By linking its economy and currency to politics, the U.S. is practically undermining the foundations of

Rich Dad Poor Dad author Robert Kiyosaki says the Fed is wiping out regional banks by supporting only big banks, like JPMorgan Chase. Stating that the Fed “is criminal,” he warned that its actions “will bring down” the United States. Robert Kiyosaki Says the Fed Is Criminal The author of Rich Dad Poor Dad, Robert

Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing crypto in foreign trade transactions, he indicated. Russia Plans to ‘Experiment’ With Cross-Border Crypto Payments Amid Sanctions

BRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using the Chinese yuan for cross-border trade. Economic Clash With West Requires Discarding Dollar, BRICS

The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of

Bitcoin Legal Defense Fund (BLDF) recently delivered on its promise to fund the legal costs of 11 Bitcoin developers that are the target of the self-proclaimed Bitcoin inventor Craig Wright’s lawsuit. According to Alex Morcos, the “mission [of BLDF] is to safeguard innovation by shielding developers from legal intimidation.” The Future of Open-Source Software Development

Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, economist Steve Hanke calls to dollarize Argentina, Bitcoin City plans are still not formalized in El Salvador, and Venezuelan crypto watchdog Sunacrip is allegedly involved in mass layoffs. Steve Hanke

Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the second-largest bank failure in its history. After a sideways weekend, BTC/USD was already volatile into the new weekly and monthly candle as downside kicked in. After steadying below $29,000, BTC price action is already facing more potential pressure as

Block, a financial services and technology company owned by former Twitter CEO Jack Dorsey has announced it has completed the prototype design of its new five-nanometre (5nm) Bitcoin (BTC) mining chip — which it claims is key to decentralizing the supply of Bitcoin mining rigs. According to a blog post published on April 28, Block

Bitcoin (BTC) Ordinals — also known by some as Bitcoin NFTs — could renew developer enthusiasm for Bitcoin and boost mining fees, according to cryptocurrency investment firm Grayscale. In an April 27 “Market Byte” blog post, the firm suggested that Ordinals provide two key benefits to the growth and development of the Bitcoin ecosystem. #Ordinals