NewsRoom Articles - Page 31 of 187

WednesdayAug 28, 2024 9:00 am

Why Cryptocurrency Market Rallied After Powell’s Speech

Bitcoin experienced a nearly 5% boost as last week ended, reflecting a broader rally in the cryptocurrency market. The surge follows remarks from the Federal Reserve chair, Jerome Powell, on Friday, where hints of potential interest rate cuts sparked excitement among investors. In his address, Powell highlighted that the job market has begun to show signs of easing, remarking that the conditions are currently less tight than they were prior to the pandemic. He added that the shift indicates it’s time for a policy adjustment. Historically, lower interest rates have been favorable for Bitcoin and the broader crypto market. For…

MondayAug 26, 2024 12:45 pm

AI Innovations at Blockchain Futurist Conference: Experts Discuss the Future of Artificial Intelligence

The Blockchain Futurist Conference, held August 13-14 in Toronto, is Canada’s largest crypto, Web3 and blockchain conference. This year’s highlights included: 10,000+ attendees 250+ speakers 300+ sponsors and partners 130+ press and media 78 events for CanadaCryptoWeek 2 hackathons Key to the event are panel discussions, which spotlight areas of interest and allow attendees to hear and meet with topic experts. These moderated discussions offer ideas and answers from business and technology leaders who are directly involved in rapidly developing subjects of vital interest. In particular, this year’s conference offered interested attendees a special panel discussion centering around one of…

MondayAug 26, 2024 9:00 am

New Partnership Allows State Street to Expand Crypto Services

Leading American financial services provider State Street is teaming up with Swiss crypto company Taurus to roll out new digital asset services. The collaboration aims to cater to the rising demand among institutional investors for opportunities in the digital asset space, including the ability to transform physical assets into tradeable digital tokens. Institutional interest in cryptocurrencies has increased as they become more prevalent in the financial system, especially through regulated products such as exchange-traded funds (ETFs) and futures. With these new asset classes, many of these investors are trying to find strategies to diversify their portfolios and protect themselves from…

FridayAug 23, 2024 9:00 am

The GOP Feels Betrayed After Crypto PAC Endorses Democrats

A major procrypto political organization has injected substantial funding into major senate races in Arizona and Michigan, supporting Democratic candidates in opposition to those endorsed by Republican presidential candidate Donald Trump. This move has frustrated key Republicans, who have traditionally seen the crypto industry as an ally rather than an adversary. The Fairshake PAC, along with its associated super PACs, is spending millions on advertising in an attempt to sway the results of three senate contests this election year. The groups recently announced plans to commit approximately $3 million each to support Democratic candidates Ruben Gallego and Elissa Slotkin in…

WednesdayAug 21, 2024 9:00 am

Financial Disclosure Reveals Trump Owns Crypto Worth at Least $1M

Former President Donald Trump holds more than $1 million in crypto assets and has profited $300,000 from selling branded Bibles, according to a recent personal financial disclosure. The branded Bible, named the Greenwood Bible, is priced at $59.99. According to the product’s website, it includes a handwritten chorus from the patriotic hymn “God Bless the U.S.” performed by country musician Lee Greenwood. There is also a limited edition available for $1,000 with Trump’s signature. In addition to a cryptocurrency wallet, Trump owns virtual Ether key holdings worth $1 million to $5 million according to the disclosure. His position on cryptocurrencies…

MondayAug 19, 2024 9:00 am

Russia Authorizes BTC and Crypto Mining

Russian president Vladimir Putin has given the green light to a new law aimed at reducing the country's dependency on the U.S. dollar (USD) in global trade. The legislation, which will come into effect on Nov. 1, 2024, permits approved mining companies to register via a state-managed database to legally mine cryptocurrencies. In addition, individual crypto miners will have the option to mine without the need for official registration provided their energy consumption remains under a specified limit. The oversight of the sector will be shared among various entities within the Russian government, including the Finance Ministry, the Bank of…

FridayAug 16, 2024 9:00 am

20 Cryptocurrency Startups Bag $141.3M in Investments in Only Two Weeks

Despite the ongoing downturn in the cryptocurrency market, venture capital investment remains strong, with $141.3 million invested in 20 different companies in a two-week period. Leading the charge is Morpho, which secured $50 million in a funding round led by Ribbit Capital. Other prominent investors in this round included Kraken Ventures, Brevan Howard, A16z Crypto, Pantera Capital and Coinbase Ventures. According to data from cryptofundraising.info, an extended Series A round of $18 million was raised by Andrena, a U.S. internet service provider developing DAWN (Decentralized Autonomous Wireless Network), a decentralized broadband protocol. Dragonfly Capital led this round with participation from…

WednesdayAug 14, 2024 9:00 am

US Court Orders FTX to Pay $12.7B to Customers

A United States court has directed the collapsed crypto exchange FTX to pay $12.7 billion to reimburse customers and victims of fraud, a few months after the company’s founder was imprisoned due to his involvement in the company’s downfall. The Commodity Futures Trading Commission (CFTC) announced that this marks the largest recovery in its history, aimed at returning funds to those harmed by the extensive fraudulent activities led by Sam Bankman-Fried, the now-insolvent FTX and a select group of FTX insiders. FTX failed in 2022 after a notable decline in the price of cryptocurrencies. The creator, Bankman-Fried, was found guilty…

TuesdayAug 13, 2024 6:37 pm

Blockchain Africa Conference 2024: Celebrating a Decade of Blockchain Innovation Across the Continent

Cape Town, South Africa – 13 August 2024 – Prepare yourself for the most thrilling African Web3 event of the year! The Blockchain Africa Conference is back, celebrating its monumental 10th anniversary. This year marks a decade of groundbreaking innovation, transformative conversations, and game-changing solutions that are propelling Africa to the forefront of the global blockchain revolution. Since its inception, the Blockchain Africa Conference has been the epicenter of dynamic discussions on how blockchain technology is reshaping the continent. From financial inclusion and cross-border payments to identity management, healthcare, and supply chain management, this milestone event is where the future…

MondayAug 12, 2024 9:00 am

Why BTC, the Crypto Market Is Experiencing a Major Crash

Bitcoin suffered one of its most significant declines this week, dropping nearly 20% in value and hitting its lowest point in half a year. Other major cryptocurrencies faced even steeper losses, with most of them decreasing by more than 20% since Sunday. Collectively, these losses have wiped out more than $300 billion from the cryptocurrency market, sparking investor concerns that the bull market might be ending. The recent downturn in the crypto market can be linked to wider economic instability, which caused significant drops in stock markets around Asia and Europe on Monday. The cryptocurrency market frequently falters along with…