May 2023 - CryptoCurrencyWire

WednesdayMay 31, 2023 10:30 am

ChatGPT’s Top Seven Forecasts for Crypto Industry by 2033

The cryptocurrency industry emerged around a decade ago with the introduction of the Bitcoin network in 2009. While there have been significant developments in the field during this time, it is also interesting to speculate on the potential future scenarios for the next decade. To provide insights into this matter, CryptoPotato sought the opinions of ChatGPT, a widely popular artificial intelligence chatbot. Here are some compelling forecasts the AI platform shared regarding the future of crypto: Increased mainstream acceptance ChatGPT anticipates a significant rise in mainstream adoption of cryptocurrencies, with Bitcoin and alternative coins playing a substantial role in the…

FridayMay 26, 2023 12:00 pm

Growing Crypto Uptake Increases Demand for Blockchain Forensic Investigation Experts

The world of divorce proceedings is facing new challenges as cryptocurrency becomes an increasingly common asset that needs to be divided between separating spouses. Cryptocurrency investments, such as Bitcoin, have gained popularity in recent years, with one in five Americans having invested, traded or used cryptocurrency. However, these digital assets can be easily hidden and difficult to trace, creating complications during divorce settlements. Divorce attorneys and forensic investigators have found themselves in a new job category, as they are now responsible for hunting down hidden crypto stashes. Divorce attorney Kelly Burris explains that cryptocurrency assets can be easily hidden by…

WednesdayMay 24, 2023 12:00 pm

How Adverse Weather Events, Crypto Slump Accelerated US Debt Ceiling Deadline

Without legislation lifting the debt ceiling, the U.S. government may soon be unable to pay its debts. But for some unexpected reasons, the “X-date” might be on an expedited timeframe. The Congressional Budget Office had predicted that the X-date would occur between July and September of this year. However, this month, Janet Yellen, the treasury secretary, wrote to House Speaker Kevin McCarthy stating that the treasury anticipated that it wouldn't be able to continue paying all of the government's obligations as early as June 1, 2023. This week, she reaffirmed the same timeline. Although the Treasury Department hasn't specifically said…

WednesdayMay 24, 2023 11:15 am

The 5th Annual Blockchain Futurist Conference to Support Crypto Ticketing Powered by EukaPay

Organized by Untraceable Events, the 5th annual Blockchain Futurist Conference will be held August 15-16 in Toronto The conference is considered Canada’s largest and most high-profile crypto, web3, and blockchain event attracting over 6,500 attendees and more than 150 speakers Attendees will get to purchase tickets using crypto thanks to a partnership between the organizers and EukaPay, a cryptocurrency payments processor EukaPay is launching a campaign on Bitcoin Pizza Day that will see ticket buyers enjoy 50% off on the prices of both general and VIP tickets, provided they use crypto Canada’s largest and most high-profile crypto, web3, and blockchain…

MondayMay 22, 2023 12:00 pm

Ripple Acquires Swiss-Based Crypto Startup as Crypto Rules Remain Murky

Blockchain company Ripple announced on Wednesday that it has acquired Swiss-based firm Metaco, a company that securely stores digital assets on behalf of clients, in an effort to increase its clientele globally and diversify its offerings. Though the terms weren't made public, Ripple CEO Brad Garlinghouse revealed that the company spent $250 million for the deal, calling it the year's largest acquisition. Through the acquisition, Ripple will have access to the Harmonize infrastructure from Metaco as well as the capacity to safely hold, distribute and settle any kind of tokenized asset. In turn, Metaco has direct access to Ripple's numerous…

FridayMay 19, 2023 10:30 am

G7 Members Urge for Expeditious Implementation of Cryptocurrency Asset Movement Regulations

A recent meeting was held in Niigata, Japan, by G7 committee members. The members gathered to talk about, among other things, the legal and financial repercussions of CBDCs and digital asset transfers. In a statement that summarized the deliberations, the committee emphasized its support for the creation of CBDCs, with the proviso that more research was required to make sure they were based on openness, data protection, cybersecurity and good economic governance. In the statement, the committee expressed appreciation for the International Monetary Fund's (IMF) efforts to create a CBDC Handbook and expressed anticipation for the first batch of deliverables…

ThursdayMay 18, 2023 10:30 am

Web3 Berlin Set to Host Europe’s Biggest Crypto & NFT Conference in June

Web3 Berlin is set to host an annual event on the 10th and 11th of June at the Estrel Congress Center. The conference promises to be an unforgettable experience where attendees can focus on networking, onboarding, and education about Web3, and most importantly, it aims to be the biggest Crypto & NFT event in Europe. The conference has already established itself as a major event on the Web3 calendar, having signed up more than 80 partners, including leading companies and organizations in the industry, such as Solana, Dash, Ramp, KuCoin, VeChain, Celo or Fantom Foundation. "We are aiming to create…

WednesdayMay 17, 2023 10:30 am

Why Bitcoin Has Surged Amid Crypto Industry Challenges

In recent months, the cryptocurrency sector has experienced several setbacks, including bankruptcies, the arrest of FTX founder Sam Bankman-Fried and regulatory action against leading exchange Binance. But despite everything happening, the cost of Bitcoin, the largest crypto, has increased. Bitcoin’s value has increased by 65% this year, outpacing the S&P 500's 7% increase by a wide margin. Even the NASDAQ, a heavily weighted index for technology, has only produced a fraction of Bitcoin's gains. According to analysts, Bitcoin has actually profited from the cryptocurrency crisis since the upheaval has driven investors away from unpopular coins and toward the market leader.…

MondayMay 15, 2023 9:00 am

PayPal Reveals Crypto Assets Totaling Almost a Billion Dollars

One of the largest online payment companies in the world, PayPal, has revealed that it owns roughly $1 billion worth of crypto on its financial statement. According to the company's balance statement, it has customer assets in litecoin (LTC), Bitcoin cash (BCH), ether (ETH) and Bitcoin (BTC).The details were made public in the SEC’s 10-Q filing, a financial performance report due every quarter that must include financial disclosures. PayPal revealed that it holds cryptocurrencies valued at $943 million. This represents a $339 million increase from the year's end. The business keeps internal records of the crypto assets possessed by its…

FridayMay 12, 2023 11:15 am

Deloitte Announces Blockchain Integration to Facilitate Digital Credentials

Deloitte, one of the top accounting firms, has integrated blockchain technology into its verification procedures to let users keep authentication information in a single digital wallet, streamlining the traditionally cumbersome procedures. Earlier this month, Deloitte stated that it has implemented the Polkadot parachain known as the KILT Protocol, making it possible to give its clients reusable digital credentials. The integration is intended to increase the effectiveness of Deloitte’s KYB and KYC verification procedures. According to Deloitte, customary and frequently ineffective procedures, such as issuing KYC and KYB certifications manually and requesting multiple data entries for verification when only a single…