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Crypto News

Swift Joins Forces with Chainlink and Top Financial Institutions for Revolutionary Blockchain Experiment

Payments giant Swift has partnered with Chainlink and major financial institutions including ANZ, BNP Paribas, Citi, and Lloyds Banking Group for a blockchain interoperability experiment. Swift aims to address the challenge of non-interoperable blockchains that hinder institutional adoption of tokenized assets. The collaboration will test how firms can leverage Swift's infrastructure to efficiently transfer tokenized value across various public and private blockchain networks. Chainlink will provide connectivity for the experiments. Swift recognizes the need for an interoperability model to enable global access to different blockchain platforms in the highly fragmented ecosystem.

The Daily Hodl - 1174 ngày trước

Goldman Sachs Reports Reveals Bitcoin Experiences Intense Profit-Taking Activity in May

Goldman Sachs released a report highlighting the positive trends in the adoption of bitcoin and Ethereum. Although the number of large Bitcoin addresses decreased, the spent output profit ratio spiked, indicating significant profit-taking. Furthermore, Bitcoin held on exchanges dropped by 12%, while Ether supply increased slightly. Network congestion affected both blockchains, leading to decreased address activity. However, Bitcoin's average mean hash rate reached a new high, resulting in a 5.4% gain and a remarkable 16.4% increase in miner revenues. These advancements demonstrate the continued growth and resilience of both cryptocurrencies.

coindesk - 1174 ngày trước

$1.5 Trillion Asset Manager Franklin Templeton Takes Bold Bet, Invests Heavily in Bitcoin

Global asset manager Franklin Templeton plans to heavily invest in Bitcoin and its underlying technology, aiming to leverage blockchain for operational efficiency and cost savings. The company also expresses interest in the wider cryptocurrency ecosystem and its future potential. Sandy Kaul, Senior Vice President of Franklin Templeton's crypto business, predicts a rise in institutional investors joining the market, emphasizing their role in establishing a strong foundation. Franklin Templeton's focus on education and promotion is expected to drive mainstream acceptance of digital assets in investment portfolios.

ZyCrypto - 1174 ngày trước

JPMorgan Takes the Lead in Launching Blockchain Settlement System Pilot Program with Six Indian Banks

JPMorgan Chase partners with six Indian banks to introduce a blockchain-powered platform for interbank dollar transactions in New Delhi. The aim is to eliminate manual intervention, reducing settlement times and costs. The Reserve Bank of India launches a domestic non-deliverable forward market settled in dollars at GIFT City, hoping to establish it as a competitive trading center. JPMorgan's blockchain platform Onyx facilitates 24-7 transactions, supporting GIFT City banks' operating hours. The pilot project, approved by the International Financial Services Center Authority, launches on June 5th, 2023.

The Daily Hodl - 1174 ngày trước

CFTC Greenlights Cboe to Offer Margin Trading on Crypto Futures Amidst Market Uncertainty

The Commodity Futures Trading Commission (CFTC) has approved Cboe Global Markets to offer more cryptocurrency products as a derivatives clearing organization. Cboe Digital will soon provide leveraged derivatives for cryptocurrencies like Bitcoin, Bitcoin Cash, Ether, Litecoin, and USDC. The updated order also permits Cboe Clear to offer clearing services for digital asset futures on a margin basis. CFTC Commissioner Christy Goldsmith Romero praised the decision, stating that it allows Cboe to clear more crypto futures contracts while implementing risk-reducing measures. Cboe's experience and partnerships in the digital asset space position them well for growth.

Blockworks - 1175 ngày trước

JPMorgan Forecasts Surging Bitcoin Demand in Anticipation of Halving Event

The upcoming halving of Bitcoin in April 2024 is highly anticipated in the crypto industry. Halving reduces the mining reward for Bitcoin and affects the number of newly generated BTC. JPMorgan predicts strong retail demand for Bitcoin leading up to the halving event, indicating positive prospects for its performance. The rise in retail interest is attributed to Bitcoin Ordinals and BRC-20 tokens. Analysts, including JPMorgan, believe Bitcoin could potentially reach new highs, with predictions ranging from $40,000 to $160,000 post-halving.

Watcher Guru - 1175 ngày trước

El Salvador's Volcano Energy Triumphs With $1B Commitments To Establish 241 MW Bitcoin Mining Facility

Volcano Energy has secured $1 billion in commitments to build a 241 MW bitcoin mining facility in El Salvador. Tether, the issuer of stablecoin USDT, is one of the investors. The mining site will be powered by 169 MW of solar energy and 72 MW of wind energy, providing a computing power of over 1.3 exahash-second. The government will have a significant role in planning and execution, and will receive a preferred participation of 23% of revenues. The remaining 27% will be owned by outside investors, while 50% will be reinvested for expanding energy production and mining capacities.

coindesk - 1175 ngày trước

Bitcoin Hash Rate Skyrockets to New Heights in May

Despite a drop in Bitcoin's value, the network's activity remains strong. The daily network hash rate reached a record high in May, indicating a secure network. However, JPMorgan analyst Reginald Smith suggests that hash rate growth may slow due to limited available rack space. The market capitalization of 13 US-listed miners tracked by JPMorgan increased by 5.0% to $6.7 billion. Mining difficulty also reached a record high. Transaction fees saw a spike in May but have since returned to the historic average. JPMorgan predicts Bitcoin's trading value at $45,000.

CoinJournal - 1175 ngày trước

Jack Dorsey Endorses Robert Kennedy Jr. as Pro-Bitcoin Choice for President

Twitter co-founder Jack Dorsey publicly endorsed presidential candidate Robert F. Kennedy, Jr., known for his pro-crypto stance. Dorsey tweeted his support after Kennedy's interview, where he discussed his potential to defeat Trump and DeSantis in the 2024 election. Kennedy gained momentum in the Democratic primaries following his keynote address at a Bitcoin conference in Miami, emphasizing the significance of digital asset self-custody and pledging to protect individuals' rights to own and use Bitcoin. Notably, Kennedy intends to accept campaign donations in BTC, showcasing his commitment to the cryptocurrency community.

BeInCrypto - 1176 ngày trước

Cardano Dominates DeFi Sector, Surpassing Bitcoin in Value Locked

Cardano's DeFi landscape expands as VyFinance DEX protocol integrates into MuesliSwap DEX Aggregator, solidifying Cardano's presence in the DeFi sector. In another noteworthy development, Cardano has surpassed Bitcoin in total value locked (TVL), with $183.19 million compared to Bitcoin's $178.99 million, according to DeFiLlama. This growth reflects an increase in active users and protocols on the Cardano network, with a 20% rise in active users over the past month. These statistics highlight the rising interest and confidence in Cardano's DeFi ecosystem.

U.Today - 1176 ngày trước

Bitcoin Whales Seize Opportunity, Increase Holdings Despite Market Fluctuations

Blockchain analytics firm Glassnode reports that Bitcoin whales, individuals or entities with more than 10,000 BTC, are accumulating more Bitcoin while others sell. Despite the market's distribution trend, these whales exhibit a bullish sentiment by increasing their holdings. Glassnode's Bitcoin Accumulation Trend Score reveals a clear contrast between accumulating whales and other major groups experiencing heavy distribution. This suggests that large investors may perceive the current Bitcoin price as an appealing entry point, while others aim to lock in profits.

U.Today - 1176 ngày trước

Bitcoin ATMs Make a Strong Comeback after 4-Month Downturn, Global Net Numbers on the Rise

The global adoption of Bitcoin continues to bitcoin ATMs Make a Strong Comeback after 4-Month Downturn, Global Net Numbers on the Risehrive as May witnessed a significant increase in crypto ATMs, with nearly 1,400 installations. Despite a decline in the first four months of 2023, countries like Australia, Poland, and Spain contributed to the positive momentum. With a total of 35,028 operational ATMs worldwide, these physical gateways facilitate the exchange of fiat currencies for crypto, promoting accessibility and convenience. Efforts to enhance security measures are underway following recent incidents, ensuring the safety of customers and their funds.

cointelegraph - 1177 ngày trước

Bitcoin Bull Market Predicted by BitMEX Founder Arthur Hayes, Anticipate Explosive Surge

In a bold essay, BitMEX founder Arthur Hayes lays out his bullish vision for Bitcoin amidst the current lull in the crypto market. He believes the Federal Reserve's rate hike will ignite a Bitcoin bull run. As the Fed prints money to pay interest on reserve balances, wealthy asset holders will likely invest in risk assets like Bitcoin, gold, and AI tech stocks. Hayes predicts that the real Bitcoin bull market will begin in the late third or early fourth quarter of the year, despite the slow summer months for crypto trading.

The Daily Hodl - 1177 ngày trước

Mercado Bitcoin Granted License to Operate as Payment Institution in Brazil

In a significant development, Mercado Bitcoin, Brazil's leading cryptocurrency exchange, received a license as a payment institution from the country's central bank. With this approval, the company can now operate as an electronic money issuer and expand its services. CEO Roberto Dagnoni expressed enthusiasm, stating that the license enables them to offer a more comprehensive experience to customers. The exchange aims to introduce financial services that blend the power of cryptocurrencies with traditional financial offerings, such as a crypto payments card in the near future.

coindesk - 1177 ngày trước

Russia's Sanctioned Rosbank Eyes Up Crypto to Move Money Overseas - Decrypt

Rosbank, one of Russia's largest banks, plans to use cryptocurrency for cross-border payments, despite being sanctioned by the US Treasury Department. The bank has conducted pilot transactions with corporate and private clients. While the specific cryptocurrency has not been mentioned, Rosbank is collaborating with fintech company B-Crypto for the project. Russia has been exploring the use of stablecoins for payments with friendly nations, aiming to reduce reliance on the US dollar and euro. The country has complicated regulations surrounding cryptocurrency, with conflicting views from different government entities.

Decrypt - 1178 ngày trước

Coinbase Empowers Institutional Investors with Bitcoin and Ether Futures Contracts Debuting on June 5

Coinbase, the popular cryptocurrency exchange, will introduce Bitcoin (BTI) and Ethereum (ETI) futures contracts specifically designed for institutional investors on June 5. The launch of these contracts via the regulated Coinbase Derivative Exchange aims to address regulatory concerns and shift the focus away from retail trading. The contracts will be offered in denominations of 1 Bitcoin and 10 Ether, and institutional participants will be able to access them through leading Futures Commission Merchants (FCMs) and brokers. Coinbase's objective is to offer improved crypto exposure management and capital efficiency for institutional clients.

CryptoPotato - 1178 ngày trước

Marathon Digital's Software Drives 77% Boost in Bitcoin Mining Output

Bitcoin miner Marathon Digital Holdings experienced a significant increase in bitcoin production in May, mining 1,245 bitcoins, a 77% rise compared to the previous month. The boost was attributed to a higher hash rate and increased transaction fees, accounting for 11.8% of the total bitcoin earned. Marathon's proprietary software played a crucial role in controlling machine output and scaling the hash rate. The uptick in revenues for miners was due to the popularity of Ordinals, which drove up demand for block space with the introduction of non-fungible tokens and memecoins.

coindesk - 1178 ngày trước

Billionaire Mike Novogratz Anticipates an Exciting Crypto Boom with a Major Trigger

Galaxy Digital CEO, Mike Novogratz, predicts that the Federal Reserve will begin cutting interest rates in October, causing a surge in digital assets such as Bitcoin and Ethereum. Novogratz believes that the rate cuts will inject liquidity into the financial markets, historically leading to crypto rallies. He also anticipates an increase in the value of precious metals, including gold and silver, alongside digital assets. Novogratz suggests that a slowdown in the US economy and the impact of high-interest rates will prompt the Fed to change its approach.

The Daily Hodl - 1178 ngày trước

Dogecoin's Daily Transaction Volume Soars by 8,220% in May, Indicating Massive Growth

New data from IntoTheBlock reveals a massive surge in daily transactions of Dogecoin (DOGE) in May. The number of transactions spiked by a staggering 8,220%, reaching a peak of over two million, an all-time high. This surge occurred after the introduction of the DRC-20 standard on the DOGE blockchain, which allows developers to create tokens representing ownership of assets. DOGE transactions even surpassed Bitcoin's in terms of volume during this period. The increased activity indicates growing interest and adoption of the meme-inspired cryptocurrency.

The Daily Hodl - 1178 ngày trước

Russian Companies Urge President Putin to Support Crypto Legalization Efforts

Russian businesses have appealed to President Putin for assistance in legalizing decentralized cryptocurrencies like bitcoin. The annual report from Russia's Business Ombudsman, Boris Titov, titled "Key Business Problems under Sanctions and Structural Transformation in 2023," suggests allowing the use of cryptocurrencies in international settlements. The report recommends dedicated legislation for cross-border crypto payments, determining the legal status of such transactions in Russia, and creating a system for mutual settlements. Russian companies are already utilizing cryptocurrencies for foreign trade, even in the absence of regulations.

Bitcoin News - 1178 ngày trước

Presidential Candidate Robert F. Kennedy Endorses Bitcoin as an Ideal Base Currency

Democratic presidential candidate Robert F. Kennedy Jr. advocates Bitcoin as the ideal base currency, citing its finite supply and intrinsic value. He views it as a safeguard against inflation caused by central banks and highlights its trustworthiness and democratic attributes, as it cannot be manipulated by individuals. Kennedy criticizes the Securities and Exchange Commission's lack of transparency in regulating cryptocurrencies. Speaking at the Bitcoin 2023 Conference, he announced his campaign's acceptance of BTC donations and vows to protect the right to hold and utilize Bitcoin as a defense against authoritarian censorship.

The Daily Hodl - 1179 ngày trước

Financial Giant PayPal Ventures into Crypto Wallet Software Investment

Payments giant PayPal has invested millions in Magic, a San Francisco-based crypto wallet company, as part of its move into the digital assets space. Magic offers non-custodial crypto wallet infrastructure, allowing companies to provide a secure Web3 experience to their customers. The funding will help Magic expand its presence in the European Union and Asia-Pacific region and enhance its functionality to deliver more value to customers. Magic has already created over 20 million unique wallets and counts brands like Mattel and Macy's among its customers.

The Daily Hodl - 1179 ngày trước

Gemini's Crypto Empire Expands to UAE, Targets License Approval

Gemini, the crypto exchange owned by the Winklevoss twins, is seeking a crypto service license in the UAE due to positive regulatory discussions and increased interest in cryptocurrencies among UAE citizens. The move comes after the Winklevoss twins faced regulatory challenges and uncertainty in the United States. Gemini has not yet decided on a specific location for its UAE operations but mentioned the possibility of establishing headquarters in both Abu Dhabi and Dubai. Data from Gemini's report indicates higher crypto ownership and future purchase intent in the UAE compared to the U.S.

cointelegraph - 1180 ngày trước

T-Mobile's Parent Company Embraces Polygon Network, Becomes Validator

Deutsche Telekom, the parent company of T-Mobile, has announced that it will become a validator on the Polygon (MATIC) network, a layer-2 scaling solution. In addition to validating nodes for other prominent cryptocurrencies, Deutsche Telekom's subsidiary will now provide staking and validation services for Polygon's Proof-of-Stake network. This move is seen as a significant step towards unlocking the potential of blockchain technology and enabling applications suitable for mass deployment. As a validator, Deutsche Telekom will contribute to the security, governance, and decentralization of Polygon's sidechain and app-chains.

The Daily Hodl - 1180 ngày trước

Texas House Committee Halts Bill Restricting Miners' Grid Program Involvement

A Texas state bill that sought to limit bitcoin miners' participation in cost-saving grid programs has been stopped in its tracks after failing to progress past a committee in the state House of Representatives. The bill, SB 1751, had previously passed unanimously in the state Senate in April. Its failure to move forward in the House is seen as a victory for the bitcoin community and energy innovation, according to Dennis Porter, an advocate involved in the bill's process. Texas, known for its favorable regulations and affordable energy, is a major mining hub globally.

coindesk - 1180 ngày trước

El Salvador Appoints 'The Bitcoin Standard' Author as Economic Advisor

Dr. Saifedean Ammous, author of "The Bitcoin Standard," has joined El Salvador's National Bitcoin Office as an economic advisor. Excited about the country's adoption of a Bitcoin standard, Ammous praised Bitcoin as a resilient asset that doesn't depreciate. He believes El Salvador could achieve debt-free status through continued Bitcoin accumulation. Ammous also visited the country to educate locals about Bitcoin and the Lightning Network. Meeting President Nayib Bukele, he discussed the advantages of economic liberty. Ammous declined any payment, wholeheartedly endorsing Bukele's Bitcoin policy in his advisory capacity.

cointelegraph - 1180 ngày trước

Coinbase CEO Warns China Will Dictate Global Digital Finance

Coinbase CEO, Brian Armstrong, has warned about the threat posed by China's increasing dominance in the cryptocurrency and fintech industry. Armstrong emphasized that disregarding cryptocurrencies as an unstable asset class undermines America's global financial leadership. He cautioned that restrictive policies in the U.S. unintentionally push crypto innovation overseas, enabling China to promote its digital platforms and challenge the U.S. dollar's role in global commerce. Other nations are actively pursuing crypto regulations, highlighting the need for the U.S. to recognize the technology's significance to maintain its innovative advantage.

CryptoPotato - 1181 ngày trước

Laos Government Embraces Blockchain for Digital Transformation Agenda

The inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation took place in Vientiane, the capital of Laos, under the leadership of Prime Minister Sonexay Siphandone. The conference aimed to drive Laos' digital revolution by focusing on the country's digital economy and attracting experts and leaders from economic departments. Singaporean software company MetaBank announced plans to establish a blockchain research center in partnership with the Laotian Ministry of Technology. The event also proposed a committee for legal compliance and legislation related to the digital economy, highlighting Laos' commitment to embracing digital technology for national development.

cointelegraph - 1181 ngày trước

Japan's Leading Airline Soars into NFT Territory with Marketplace Launch

All Nippon Airways (ANA), Japan's largest airline, launched the ANA GranWhale NFT Marketplace with ANA Neo. The platform showcases non-fungible tokens (NFTs) by aerial photographer Luke Ozawa, starting with his digital photo and its positive film at auction. ANA plans to release a second collection on June 7, featuring NFT conversions of their first Boeing 787. By embracing NFTs, ANA aims to expand their product line and enhance the customer experience. ANA Neo's GranWhale project began in August, recreating destinations and cultures using VR and metaverse technology.

Impress Watch - 1181 ngày trước

Tether to Launch Sustainable Bitcoin Mining Operations in Uruguay

Tether plans to do more to enhance the "world's most robust and secure monetary network."

CryptoPotato - 1181 ngày trước

Remarkable Triumph: Reddit Collectibles Skyrocket with Nearly 10 Million Holders

The success of Reddit collectibles on the pro-blockchain social platform is evident, with a large and enthusiastic community embracing the series of non-fungible tokens (NFTs). Launched in July 2022, these unique and affordable NFTs are securely stored on Polygon (MATIC), a trusted blockchain platform. Astonishingly, almost 10 million Reddit accounts currently hold NFTs, contributing to a market capitalization of $38 million. Notably, collections like The Senses, poieeeyee, and Foustlings have achieved impressive sales surpassing $1 million each, as reported by blockchain data analytics firm DuneAnalytics.

dailycoin - 1181 ngày trước

Crypto Exchanges Becoming Key Players in Russia's Cross-Border Transactions

Russia is exploring the possibility of using cryptocurrency exchanges for cross-border transactions, a departure from previous plans for a state-run cryptocurrency exchange. The country's Ministry of Finance is now backing a new framework that would establish rules for the use of crypto exchanges in cross-border settlements. Anatoly Aksakov, head of the State Duma committee on financial markets, confirmed the intention to adopt this framework. The Ministry of Finance aims to ensure proper and comprehensive regulation of cryptocurrencies, according to Ivan Chebeskov, director of financial policy.

CoinJournal - 1182 ngày trước

Bitcoin Mining Community Relieved as Biden's 30% Tax is Abandoned in Debt Ceiling Agreement

Ohio lawmaker Warren Davidson announced that the Biden administration's proposal to impose a 30% tax on Bitcoin mining has been put on hold in the recent debt ceiling deal. The controversial Digital Asset Mining Energy (DAME) tax, intended to tackle the environmental consequences of crypto mining, received criticism from the industry, with concerns that it would push mining operations overseas. Although the tax has been temporarily blocked, it is anticipated that the White House will explore other means to reintroduce the bill, emphasizing the need to address the societal costs associated with mining.

thestreet - 1182 ngày trước

Dogecoin Outperforms Ethereum in Transaction Volume Battle

In the past week, Dogecoin has outperformed Ethereum and Bitcoin in terms of transaction volume. With over 9 million transactions, Dogecoin has surpassed Ethereum's 6 million transactions and Bitcoin's 3.3 million transactions. This surge can be attributed to the implementation of DRC-20 tokens, inspired by Bitcoin's BRC-20 tokens, which allow for the creation and trading of tokens on the Dogecoin blockchain. However, some community members are concerned that this increased activity may lead to network congestion, undermining Dogecoin's objective of being an efficient and cost-effective transaction method.

CryptoSlate - 1182 ngày trước

Dormant Ether Wallet Comes Alive, Transfers $14.7 Million Worth ETH

An Ether wallet that had been inactive since 2015 suddenly came to life, moving 8,000 ETH in just two minutes. The wallet received the ETH during Ethereum's ICO in 2015 and remained dormant until recently. The owner cautiously transferred 1 ETH to a new wallet and then moved the remaining 7,999 ETH. The transaction was noticed by a blockchain analytics service, sparking speculation about the reason for the transfer. The 8,000 ETH, initially worth $2,500, is now valued at approximately $14.7 million, representing a massive 590,000% gain for the owner.

cointelegraph - 1182 ngày trước

Dormant Ether Wallet Comes Alive, Transfers $14.7 Million Worth ETH

cointelegraph - 1182 ngày trước

VanEck Signals Growing Possibility of Ethereum (ETH) Hitting $51,000

VanEck, a global investment manager, has released a research report outlining different scenarios for Ethereum's future performance. They predict that if Ethereum becomes the dominant global settlement network, it could reach $51,000 within seven years. In the bear case, where Ethereum loses dominance, the price could drop to $343.29 by 2030. VanEck also suggests a base case price target of $11,848.62 and a bull case of $51,006. The firm believes that Ethereum is evolving into a store-of-value asset, albeit in a different way than Bitcoin.

The Daily Hodl - 1183 ngày trước

Survey Reveals 84% of Voters Want Presidential Candidates to Back Bitcoin Rights

The approaching 2024 US presidential election intensifies the cryptocurrency debate, with candidates recognizing the importance of digital assets in the campaign. Voter interest in a candidate's position on Bitcoin suggests it could impact their voting decisions. In a Twitter poll by Michael Saylor of MicroStrategy, 84% of nearly 30,000 respondents expressed that they would require a presidential candidate to support their right to Bitcoin before earning their vote. This reflects the public's strong demand for candidates who actively advocate for Bitcoin's role in politics and the economy.

Finbold - 1183 ngày trước

Ethereum on Exchanges Drops to Only 15% of Total Token Supply

The balance of Ether (ETH) on centralized crypto exchanges has reached its lowest point in five years, according to data from Glassnode. Currently, there are 17.8 million ETH on exchanges, representing less than 15% of the total token supply and a significant decrease from the 26% recorded during the 2021 bull market. This trend is considered bullish as it indicates limited supply available for purchase. The decline in exchange balances coincides with a rise in staking, with over 21.3 million ETH staked since the Shapella upgrade, triggering a decline in token supply.

CryptoPotato - 1184 ngày trước

Federal Reserve Acknowledges Growing Significance of Cryptocurrencies, Including Ripple's XRP

The Federal Reserve of the United States has officially recognized cryptocurrencies, including Ripple's XRP, according to a recent report. This recognition marks a significant milestone in the mainstream adoption of digital currencies and highlights their growing importance in the global financial landscape. The move by the Federal Reserve indicates a shift in attitude towards cryptocurrencies, signaling a greater acceptance of their role in the future of finance. This development could potentially lead to increased investment and integration of cryptocurrencies into traditional financial systems.

cryptonomist - 1184 ngày trước