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Crypto News

PayPal Executive Unveils Plans to Incorporate PYUSD into the World of Decentralized Finance

PayPal's new stablecoin, PYUSD, is set to enter the decentralized finance (DeFi) arena, according to the company's blockchain VP, Jose Fernandez da Ponte. Launched recently, PYUSD will soon be accessible on crypto exchanges and compatible with DeFi systems. The token, an ERC-20 coin linked to Ethereum, aligns with New York regulations and boasts full backing. This move reflects PayPal's strategy to target crypto users within the expanding DeFi landscape, aiming to offer traditional use cases once available on major exchanges. The stablecoin's compliance with stringent regulations further underscores its robustness and suitability for wider adoption.

The Daily Hodl - 1109 ngày trước

Bitcoin (BTC) Sets Record with Highest Number of Non-Zero Addresses

Bitcoin Achieves New On-Chain Highs Amidst Stable Market: Glassnode Alerts, a prominent market analytics platform, has reported that Bitcoin (BTC) has reached new all-time highs in key on-chain metrics. The number of non-zero addresses for BTC has surged to 48,039,035, surpassing the previous ATH of 48,038,925. Additionally, BTC's supply last active over 10 years hit an ATH of 2,893,573,026 BTC. Although weekend market movement has been limited, BTC's price edged up by 0.01% in 24 hours, trading at $29,378.59.

Coin Edition - 1109 ngày trước

U.S. Senator Lummis Backs Crypto Advocates in Urging Court to Dismiss SEC's Coinbase Lawsuit

U.S. Senator Cynthia Lummis (R-Wy.) and various cryptocurrency lobbying groups have jointly submitted amicus briefs to a federal court, calling for the dismissal of the Securities and Exchange Commission (SEC) lawsuit against Coinbase. They assert that the SEC is overstepping its authority by claiming that platforms like Coinbase are unregistered securities exchanges, brokers, and clearinghouses trading unregistered securities in the form of cryptocurrencies. These arguments mirror Coinbase's own defense. This move comes after the SEC settled similar charges with Bittrex. The briefs highlight the importance of deferring to Congress in shaping crypto regulations.

coindesk - 1110 ngày trước

Visa Enables Direct Fiat Payment of Ethereum Gas Fees via Credit Cards

Visa's latest move in support of crypto involves enabling direct payment of Ethereum gas fees using fiat currencies through credit or debit cards. By utilizing Ethereum's ERC-4337 account abstraction standard and a "paymaster" smart contract feature, Visa successfully conducted tests on the Ethereum Goerli testnet, facilitating off-chain settlements of gas fees. This innovative approach eliminates the need for maintaining an ETH balance and offers a user-friendly method for blockchain-based transactions. The initiative aligns with Visa's ongoing efforts to enhance accessibility and convenience in the realm of blockchain-based payments.

coinspeaker - 1110 ngày trước

Boyaa Interactive to Buy $5 Million Worth of Bitcoin and Ethereum

Hong Kong's Boyaa Interactive International Limited has greenlit a $5 million budget for buying cryptocurrencies, notably Bitcoin and Ethereum, through regulated trading platforms in the upcoming year. The move aims to strategically position the company in the Web3 sector, demonstrating their anticipation of future trends and technologies. Boyaa Interactive, renowned for its online puzzle and card games, believes these cryptocurrency acquisitions align with their business interests and will ultimately benefit both the company and its shareholders. This decision underlines growing corporate acceptance and integration of cryptocurrencies as viable assets and tools for expansion.

theblock - 1111 ngày trước

Kentucky Boosts Bitcoin Mining by Granting $4 Million Electricity Discounts to Local Miner

Kentucky's push to become a favorable destination for bitcoin miners gains momentum as the Public Service Commission (PSC) greenlights $4 million in electricity discounts for local mining company Bitiki-KY. The move aligns with the state's commitment to affordable energy options and economic growth. Bitiki-KY's agreement includes a $25 million investment in facilities, creating five jobs, and establishing a mining location in Waverly. Despite criticism from certain groups, the PSC emphasizes the lack of legal obligation for job creation, solidifying the state's appeal to the crypto mining industry.

Blockworks - 1111 ngày trước

Bitcoin Mining Council Leads with 63% Renewable Energy Adoption in H1 2023

The Bitcoin Mining Council (BMC) released data indicating substantial progress in eco-friendly Bitcoin mining in H1 2023. The BMC, a global collective of Bitcoin miners, achieved a remarkable 70% YoY increase in hash rate, representing 43.4% of the global Bitcoin Mining Network. The group's sustainable power usage of 63.1% is boosting the industry's overall electricity mix to 59.9%. Moreover, technological efficiency grew by 24%, underlining Bitcoin's expansion and efficiency correlation. Additionally, BMC members contributed 2.5 GW of curtailed energy, aiding grid stability in North America. Bitcoin mining showcases its sustainability and grid support prowess globally.

CryptoSlate - 1111 ngày trước

Chinese Tech Giant Huawei Embraces Web3.0 with New Cloud Service

Chinese tech giant Huawei is venturing into the Web3 sector by enhancing its Huawei Cloud services with a new segment named 'Web3.0 Node Engine Service.' This expansion includes upgraded documentation and user guides, featuring Ethereum and TRON node engine introductions. The Web 3.0 Node Engine Service simplifies blockchain management, offering stable and secure infrastructure for Web3 applications. Huawei aims to engage stakeholders like staking node carriers, individuals, developers, and investors in the cryptocurrency and blockchain space with this move. This signals Huawei's increased interest in the growing world of cryptocurrencies and Web3 technology.

Finbold - 1111 ngày trước

Riot Aims to Triple Production by 2025, Spending Only $8.3k to Mine 1 BTC

Riot, a major Bitcoin mining player, reported a $76.7 million revenue in Q2 2023, showcasing the sector's strength despite volatile markets. This success, attributed to a 27% production rise rather than Bitcoin's value, is boosted by lowered mining costs ($8,389 from $11,316). CEO Jason Les praised their "unmatched scale" and strategic partnerships. Riot's plan to expand hash rate to 35.4 EH-s by 2025, along with diverse revenue sources including power sales, demonstrates confidence in Bitcoin's future. Challenges, like the Texas storm impact, haven't deterred Riot's innovative resilience.

CryptoSlate - 1111 ngày trước

US Bank SoFi Discloses $166 Million Worth of Cryptocurrencies in Holdings

San Francisco-based SoFi bank has reported holding around $170 million in cryptocurrency in its Q2 earnings report, showcasing a substantial increase from the previous quarter. The bank, which serves over six million customers, holds major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. SoFi not only holds these assets but also facilitates crypto trading for over 22 cryptocurrencies. Despite regulatory concerns raised by U.S. lawmakers and the Federal Reserve, SoFi's embrace of crypto reflects a positive step toward mainstream adoption, amid the backdrop of the crypto banking sector's recent challenges.

cointelegraph - 1111 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước