Day: May 17, 2023

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 occur as early as June 1. They warned of “potentially disastrous consequences” if the U.S. defaults on its debt obligations. Executives Warn of ‘Disastrous Consequences’ From US Default A total of 146 executives from major companies in the U.S. have jointly written an open letter to President Joe Biden…

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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 adopted a strategic approach by rolling out the game’s app in stages, with targeted release plans for various Latin American and Asian countries. Blockchain Game Axie Infinity Origins Clears Apple’s Review Following the phased release on the Google Play Store, Axie Infinity Origins is now available for Apple iOS users in select countries. The…

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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 activity, leading to a substantial increase in daily transactions on the Dogecoin blockchain. Specifically, on Wednesday, May 17, 2023, the network recorded a tally of over 820,000 confirmed transactions so far. Dogecoin’s DRC20 Token Standard Sparks Surge in Daily Transactions After witnessing the success of the Ordinal inscription and BRC20 trend…

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Tether, the stablecoin enterprise, has revealed its intention to devote 15% of its profits to bitcoin. The firm’s announcement comes on the heels of Tether’s recent attestation report, which emphasized the company’s possession of bitcoin reserves worth $1.5 billion. Tether’s Strategic Shift: Profits to Fuel Bitcoin Acquisition Tether, the company behind the crypto economy’s largest stablecoin asset, has unveiled its strategic vision to acquire bitcoin (BTC) using its profits. “Starting this month, Tether will regularly allocate up to 15% of its net realized operating profits towards purchasing bitcoin (BTC),” the…

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Dogecoin rose to a one-week high on Wednesday, despite cryptocurrency markets mostly moving lower. As of writing, the global crypto market cap is trading nearly 1% lower. Xrp also surged, climbing by over 6% in today’s session. Dogecoin (DOGE) Dogecoin (DOGE) was able to climb to a one-week high in today’s session, despite markets mostly trending lower. Following a low of $0.07177 on Tuesday, DOGE/USD raced to an intraday high of $0.07422 earlier in the day. Today’s rally saw dogecoin climb for a second straight session, which pushed the meme…

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Introduction. When we discuss the future of the digital economy and real life in the next generation of the Internet, we are inevitably talking about Web 3.0. The future is unknown, but we have seen some tech companies already exploring and deepening on their tracks, such as Alchemy Pay, mentioned in this article. We will analyze the targeted strategies and measures it has taken in the crypto payment space, taking into account the company’s sustainable long-term goals while building a rich crypto payment ecosystem that is prepared for the Web…

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Hardware wallet maker Ledger is facing significant backlash for its recent introduction of a tool enabling users to back up their seed phrases through the transmission of encrypted key fragments to third-party firms. The crypto community has not embraced this new feature, with numerous digital currency users venting their frustration on social media platforms. Ledger’s Backup Tool Sparks Outrage in Crypto Circles In a recent move, hardware wallet manufacturer Ledger unveiled their latest tool, Ledger Recover. Unfortunately, the reception within the crypto community has been far from positive. “Ledger Recover…

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Bitcoin fell below the $27,000 level on May 17, as market uncertainty remained high amidst the debt ceiling crisis in the United States. Congress continues to negotiate terms of a potential increase to the limit, before the U.S. government runs out of cash on June 1. Ethereum also dropped, breaking out of the $1,800 level. Bitcoin Bitcoin (BTC) moved below the $27,000 level on Wednesday, following yesterday’s U.S. Retail Sales report. BTC/USD moved to a low of $26,785.41 earlier in today’s session, which was following Tuesday’s peak at $27,223.07. Today’s…

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Bitcoin.com is proud to announce that it has reached a significant milestone in its mission to increase the adoption of cryptocurrency worldwide: the creation of the 40 millionth crypto wallet in the multi-chain, DeFi-ready Bitcoin.com Wallet. Since its inception in June 2017, the Bitcoin.com Wallet has seen a rapid rise in user adoption, reflecting the increasing acceptance and adoption of cryptocurrency around the globe. It took nearly two years for Bitcoin.com to reach its first five million wallets. In contrast, the recent fifteen million wallets have been created in just…

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Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service The Federal Tax Service of Russia (FTS) will likely be the nation’s leading regulator for the cryptocurrency sector and admit participants to the market, Deputy Finance Minister Alexey Moiseev has said in interview with the…

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