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Bitcoin.com

Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits

Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been done...

Bitpay Ceases Prepaid Mastercard Program, Promises Enhanced Card Service in the Future

Cryptocurrency proponents in the United States are facing increasing challenges when it comes to utilizing digital assets for expenditures. Several crypto companies have encountered difficulties in securing banking partners. This week, Bitpay, a prom...

Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements

The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using nation...

Digital Ruble Law Likely to Be Passed in June According to Russian Official

The digital ruble law project, which was already discussed and approved in its first reading, could be passed in June, according to Anatoly Aksakov, chairman of the Duma’s Financial Markets Committee. The Bank of Russia is currently waiting for the e...

Binance Halts Deposits and Possibly Withdrawals for Aussie Users After Being Cut Off by Australian Payment Service Provider

Binance Australia said on May 18 that it is “unable to facilitate PayID AUD deposits for Binance users” due to a third-party payment service provider’s decision to discontinue support for the crypto exchange. Binance Australia said...

Hong Kong Launches Digital Currency Pilot With 16 Firms Including HSBC, Bank of China, Alipay

The Hong Kong Monetary Authority (HKMA) has announced the commencement of its e-HKD pilot which “will take deep dives into potential use cases in six categories.” The pilot paves the way for “the possible implementation of a retail central bank digit...

Venezuela’s President Declares Inevitable Shift Away From US Dollar in De-Dollarization Push

Venezuelan President Nicolas Maduro has announced that Venezuela will shift away from using U.S. dollars in trade, emphasizing that the de-dollarization process is “inevitable.” He described: “This is the path of Venezuela and the path of...

Rate Hikes Affecting Housing Markets in Eurozone, United States, ECB Study Shows

Interest rate hikes in the euro area are already causing a decline in housing investment, the zone’s central bank revealed in a study. While smaller than in the United States, the impact of the monetary policy tightening on the Old Continent is likel...

Litecoin Network Surges With Activity as Ordinal Inscriptions Drive Transaction Volume

Based on recent data, the Litecoin (LTC) network has seen a considerable surge in activity due to an increase in Ordinal inscription minting happening on its blockchain. The cryptocurrency’s value has risen by more than 13% in the past week, a...

FTX Executives Sue Co-Founders Amidst Failed FTX Stocks Project

Court documents filed on May 17, 2023, reveal that current executives overseeing FTX and its subsidiary, Alameda Research, have initiated a lawsuit against Sam Bankman-Fried, the former CEO of FTX, Nishad Singh, FTX’s former director of enginee...

US Bitcoin Corp Secures Hosting Agreements for 150,000 Bitcoin Miners

On Thursday, the bitcoin mining company U.S. Bitcoin Corp revealed the firm has successfully secured hosting agreements with five different companies to install 150,000 application-specific integrated circuit (ASIC) bitcoin miners. The bitcoin mining...

Unidef Introduces Decemount to Expedite Global Shift to Decentralization

PRESS RELEASE. Dubai, UAE — May 18, 2023 – Today, Unidef (unidef.org), a global network of organizations focused on hastening the global shift to a decentralized future, proudly unveils its latest initiative, Decemount. This ambitious project s...

Biggest Movers: XRP Extends Bull Run, Jumping 5% on Thursday

Xrp rose for a fifth straight session on Thursday, as the token moved close to a two-week high. The rise comes as cryptocurrencies rebounded from recent losses, with the global market cap up 1.38% as of writing. Cardano also surged, hitting an 11-day...

Regulatory Battle: Grayscale Challenged by SEC’s Designation of Filecoin as Security

Grayscale Investments, the largest digital currency asset manager by assets under management, made an announcement on May 17 regarding a comment received from the U.S. Securities and Exchange Commission (SEC). According to the SEC, the crypto asset f...

Bitcoin, Ethereum Technical Analysis: BTC Sees Strong Rebound, as Biden Holds Debt Ceiling Talks

Bitcoin rebounded on Thursday, as markets responded to news that U.S. President Joe Biden held positive talks regarding the debt ceiling. Biden reportedly met with Republican House Speaker Kevin McCarthy, in a bid to find an agreement. Ethereum also...

Report: North Korea Affiliated Cybercriminals Stole $721 Milion Worth Crypto Assets From Japan

Between 2017 and 2022, hacking groups affiliated with North Korea are thought to have stolen crypto assets worth $721 million from Japan alone. According to the findings of a study by Elliptic, hackers were primarily focused on Japan and Vietnam beca...

Pakistan to Ban Online Services Related to Cryptocurrencies

Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of c...

Brazilian President Lula Ends Fuel Price Peg to the US Dollar, Announces Wholesale Discounts

Brazilian President Luiz Inacio ‘Lula’ da Silva has announced that state oil company Petrobras will not be using US dollar-based international prices to set its internal fuel pricing structure. The “Brazilianization” of the in...

Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves for...

Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

Many of the most well-known crypto firms are not adhering to basic governance standards, the findings of a Bloomberg survey have shown. Only 31 out of the 60 polled firms “currently procure a full financial audit or reserve attestations from an...

EU Council Adopts New Rules for Europe’s Crypto Markets

The Council of the European Union has given its final approval to new regulations for crypto assets and markets in the EU. The decision completes a lengthy and complex legislative process for what’s considered to be the world’s first comprehensive le...

BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

South Africa’s BRICS Sherpa says one of the priorities at the upcoming BRICS summit is “to strengthen economic cooperation.” He added: “We need a stable global financial architecture, a global financial arena. That is why we say that we need to trade...

146 Top Executives Urge Biden to Prevent US Default — Warns of ‘Disastrous Consequences’

Top executives from 146 major companies in the U.S. — including Morgan Stanley, Goldman Sachs, Nasdaq, and Pfizer — have urged President Joe Biden and congressional leaders to act swiftly to prevent the U.S. from defaulting on its debt, which could o...

Axie Infinity Origins Breaks Through Apple’s App Store Barrier, Now Accessible to Select iOS Users

Axie Infinity Origins, the blockchain-based, play-to-earn (P2E) game, has successfully cleared Apple’s rigorous App Store review process and the game’s app is now available for Apple iOS users. Sky Mavis, the creator behind Axie Infinity, has a...

DRC20 Tokens Take Dogecoin Community by Storm, Driving Record-Breaking Daily Transactions on the Network

With the BRC20 token economy maintaining a market capitalization of nearly $500 million, the introduction of the DRC20 token standard has sparked a flurry of excitement within the Dogecoin community. The emerging token type has ignited a surge of act...

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