Tag: Bitcoin

Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained. Ethereum’s Co-Founder on Crypto Ecosystem, Regulation Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC last Wednesday. “The strength of our…

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Market strategist Jeremy Grantham, co-founder of asset management firm GMO, has warned of “super bubbles” bursting. He explained that the Federal Reserve has “created an environment conducive to a chain-linked series of super bubbles that break with outrageously consequential, painful effects.” Jeremy Grantham’s Warnings Investment strategist Jeremy Grantham shared his U.S. economic outlook with economist David Rosenberg during a Rosenberg Research webcast, published on March 16. Grantham is a co-founder and chief investment strategist of asset management firm GMO. He has been an investment strategist for over 40 years and…

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The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitcoin. “We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well,” the executive said, adding that the Federal Reserve is “close to the end of their tightening.” Bull Cycle for Gold and Bitcoin Jan van Eck, CEO of investment management firm Vaneck, shared his prediction regarding gold and bitcoin in an interview with CNBC last week. His firm has $69…

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Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. As the hashrate continues to climb, research analyst Sam Wouters at River Financial estimates that at the current growth rate, Bitcoin could reach the zettahash era “by the end of 2025.” Reasons for the Increase…

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According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley Bank Purchased by First Citizens in FDIC-Mediated Deal The FDIC has announced that First Citizens Bank has taken over Silicon Valley Bank (SVB) following the acquisition of Signature Bank by Flagstar seven days prior. According…

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After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth asserts that the banking industry is facing problems that “nobody wants to call a banking crisis.” Ignoring the U.S. Bank Crisis There have been numerous opinions and statements from financial experts and officials following the…

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The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim, for allegedly aiding and abetting Binance’s violations. CFTC Charges Binance with Willful Evasion of Federal Law; CEO Changpeng Zhao Named in Lawsuit The CFTC has charged Binance with willful evasion of federal law as the…

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Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week. XRP XRP, formerly ripple, rose for a third consecutive session on Monday, as prices neared a five-month high. Following a low of 0.4438 on Sunday, XRP/USD raced to an intraday high of $0.4877 earlier in today’s session. As a result of…

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Microstrategy has purchased 6,455 bitcoins for approximately $150 million at an average price of $23,238 per coin. With its latest purchase, Microstrategy now holds 138,955 bitcoins acquired at an average of $29,817 per coin. Moreover, the company also paid off its loan from troubled Silvergate Bank in full. Microstrategy Buys More Bitcoin Nasdaq-listed Microstrategy Inc. (Nasdaq: MSTR) announced Monday that it has acquired 6,455 more bitcoins. CEO Michael Saylor tweeted: Microstrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, MSTR acquired an additional ~6,455 bitcoins for…

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Bitcoin started the week trading around the $28,000 mark, as markets reacted to the news that Silicon Valley Bank was to be acquired. First Citizen Bank agreed to buy approximately $72 billion in SVB assets, at a discounted rate of $16.5 billion. Ethereum continued to trade under $1,800 on Monday. Bitcoin Bitcoin (BTC) started the week trading marginally higher, with prices hovering near the $28,000 level. Following a bottom at $27,678.15 on Sunday, BTC/USD moved to a high of $28,178.14 earlier in today’s session. The move saw bitcoin edge towards…

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