NewsRoom Articles - Page 44 of 181

FridayAug 25, 2023 10:30 am

JPMorgan Report Shows Crypto Miners Are Diversifying Business Interests

Bitcoin mining companies are branching into fresh business domains, diversifying into high-performance computing services for the rapidly expanding artificial intelligence sector. The objective behind this shift is to decrease their dependence on the cryptocurrency market, according to a recent research report by JPMorgan. The analysis underscores that miners have been partially funding these novel endeavors by liquidating their digital coins over the past few quarters. Several entities engaged in Bitcoin mining have rebranded their identities to mirror this strategic diversification. An example is Riot Blockchain, which adopted the name Riot Platforms, and Hive Blockchain Technologies rechristened itself to Hive Digital…

WednesdayAug 23, 2023 10:30 am

Five Possible Reasons for the Recent Flash Drop in Bitcoin’s Price

On Aug. 18, 2023, at approximately 9:35 p.m. UTC, the value of Bitcoin experienced an abrupt drop of more than 8% within a mere 10-minute timeframe. This unexpected plunge had a domino effect on the broader cryptocurrency market, leaving those within the crypto community puzzled and perplexed. While the precise catalyst behind this sudden market turbulence remains elusive, a variety of theories have been put forth by crypto market analysts in their discussions with Cointelegraph. The influence of SpaceX Josh Gilbert, a market analyst from eToro, attributed the downturn to a report indicating that SpaceX might have sold off a…

MondayAug 21, 2023 12:00 pm

The SEC vs. Binance Battle Poised to Shape Crypto’s Future

Binance, a major player in the world of cryptocurrencies, is currently entangled in a significant legal battle against the Securities and Exchange Commission (SEC), which could have far-reaching implications for the entire crypto industry. The founder and CEO of Binance, Changpeng Zhao, also known as CZ, is at the forefront of this legal clash with the regulatory agency. The SEC has filed multiple charges against Binance, alleging that it misled investors and operated an unregistered and illegal cryptocurrency exchange. The charges are part of a broader crackdown on the crypto sector that gained momentum following the collapse of FTX, another…

FridayAug 18, 2023 10:30 am

UN Report Says Crypto Platforms Are Attractive Targets for North Korean Hackers

Independent monitors focused on sanctions have disclosed that cyber operatives affiliated with North Korea have persisted in targeting entities within the cryptocurrency sector. The information gleaned from their investigation is set to be incorporated into an upcoming United Nations report, shedding light on Pyongyang's relentless advancement of its nuclear and arms initiatives. The freshly compiled report, tailored for scrutiny by a U.N. Security Council panel, underscores that North Korea remained steadfast in its efforts to manufacture nuclear fissile material and forge ahead with its arsenal of nuclear weaponry during the year 2023. The authors of the report, who routinely furnish…

ThursdayAug 17, 2023 9:45 am

Emerging Tech Set to Hit Warp Speed at Las Vegas with the BREATHE! Convention, Presented by 5AM Global

The emerging tech universe has grown from an NFT-focused evolution of the Internet to an interconnected but decentralized system built on blockchain-based supply chain management and community-based ownership protocols, and this year’s BREATHE! Convention at The Expo @ World Market Center Las Vegas is the place to go exploring. Developers, collectors, investors and educators, will all gather at this convention to network and revolutionize tech-centric industries September 13 through 15, at one of the premier convention centers in the heart of Downtown Las Vegas, Nevada. Subject matter experts and educators at BREATHE! are not charged or paid to speak at…

WednesdayAug 16, 2023 10:30 am

Bankman-Fried Sent to Jail for Violating Bail Conditions

A U.S. magistrate has withdrawn Sam Bankman-Fried's release on bail after discovering credible evidence that the indicted FTX crypto exchange founder interfered with witnesses on at least two occasions. Judge Lewis Kaplan of the U.S. District Court made the verdict during a hearing on Bankman-Fried's bail conditions in the federal courthouse in Manhattan. The judge unequivocally denied a request from the defense to postpone Bankman-Fried's detention in light of the bail revocation. The ruling has the potential to introduce complexities to Bankman-Fried's trial preparations. Bankman-Fried stands accused of embezzling substantial sums from FTX customers to offset losses within his Alameda…

MondayAug 14, 2023 12:00 pm

Feds Launch Supervision Program to Keep Eye on DLT, Fintech and Crypto

The U.S. crypto sector is set to experience increased regulatory scrutiny from the Federal Reserve, as an initiative known as the Novel Activities Supervision Program comes into play. This program has been designed with the primary aim of bolstering the monitoring of pioneering activities undertaken by financial institutions under the purview of the central bank. According to an official statement released by the Fed Board (FRD), this novel initiative will center its focus on groundbreaking endeavors associated with distributed ledger technology, crypto assets, and technology-driven collaborations with nonfinancial entities aimed at providing financial services to clientele. The Federal Reserve has…

FridayAug 11, 2023 10:30 am

PayPal Launches USD Stablecoin

PayPal introduced its new stablecoin called PayPal USD, denominated in the U.S. dollar, on Monday. This move marks a key milestone, as it makes PayPal the first major player in the financial technology sector to embrace digital currencies for seamless payments and transfers. The purpose behind PYUSD is to capitalize on the potential benefits offered by stablecoins in the completion of transactions. Notably, it is fully backed by short-term U.S. Treasury securities, U.S. dollar deposits and analogous liquid assets, ensuring its stability. The stablecoin can be redeemed on a one-to-one basis for U.S. dollars, and its issuance is under the…

WednesdayAug 09, 2023 10:30 am

GOP Presidential Hopeful Adds Bitcoin to Campaign Donation Options

Step aside, Andrew Yang. There is a fresh face in the crypto space that has set sights on the White House stage: Francis Suarez, the tech-savvy mayor of Miami and a fervent advocate of digital currencies. Suarez, renowned for opting to receive his remuneration in Bitcoin, has now upped the ante by extending his crypto affinity to his 2024 campaign coffers. Suarez revealed this pioneering fundraising endeavor in a conversation with CoinDesk, a prominent online platform dedicated to bitcoin and other digital assets. “I'm thrilled to formally announce that my campaign is embracing Bitcoin contributions,” Suarez stated. He emphasized that…

MondayAug 07, 2023 11:15 am

Federal Judge Rules Certain Cryptos Qualify as Securities

A federal judge presiding in Manhattan has expressed the view that cryptocurrencies should be regarded as securities, regardless of the method of their transaction. This interpretation grants the Securities and Exchange Commission (SEC) authority to press charges related to securities against Terraform Labs. This legal stance also extends to the founder of the company, Do Kwon, and carries significant implications for the landscape of cryptocurrency legislation and legal actions. The decision delivered by Judge Jed Rakoff introduces complications to the ongoing legal battles between the SEC and both Ripple and Coinbase. The SEC had put forth allegations asserting that Coinbase…