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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Robert Kiyosaki, the author of Rich Dad Poor Dad, has warned that the U.S. is adding a trillion dollars to its debt every 100 days. He advises investing in gold, silver, and bitcoin to safeguard against economic instability. Kiyosaki also points out the dangers of relying on traditional banks, noting that banking panics are often […]
https://news.bitcoin.com/robert-kiyosaki-pushes-bitcoin-as-us-debt-soars-to-alarming-levels-warns-of-banking-system-failures/
Pavel Durov, founder and CEO of Telegram, has reportedly been arrested at Le Bourget airport in France under a search warrant issued by the French judicial police. The arrest follows accusations that Telegram facilitates crimes like drug trafficking and fraud due to its anonymity features. Durov faces serious charges, including terrorism and narcotics trafficking. Telegram […]
https://news.bitcoin.com/telegram-ceo-pavel-durov-arrested-in-france-ton-price-plummets/
Thomas Joseph Webster, Professor Emeritus of Economics at Pace University, challenges the long-held belief in the Federal Reserve’s political independence in his comprehensive report, “The Myth of Fed Political Independence.” Webster’s research scrutinizes the relationship between fiscal and monetary policies, arguing that the Federal Reserve operates more as a political tool than an independent entity. […]
https://news.bitcoin.com/academic-paper-questions-federal-reserve-independence-and-exposes-political-ties/
Market data reveals that bitcoin’s market capitalization now stands at 56%, representing a 47.36% growth since Nov. 2022. Although the crypto markets have been showing positive trends this week, the likelihood of an ‘altcoin season’ remains quite slim. This is evidenced by blockchaincenter.net’s Altcoin Season Index (ASI), which currently sits at a low score of […]
https://news.bitcoin.com/bitcoins-reign-unchallenged-altcoin-season-continues-to-fade-into-obscurity/
In the last three days, Foundry USA and Antpool have emerged as the leading forces in bitcoin mining, together controlling a whopping 56.7% of the network’s total hashrate. Since the year began, Foundry’s hashrate has climbed by about 75 exahash per second (EH/s), marking a significant increase. Foundry USA and Antpool Control Well Over Half […]
https://news.bitcoin.com/data-shows-bitcoin-mining-giants-foundry-and-antpool-seize-56-7-of-networks-hashrate/
Polygon’s community Discord channel was compromised in a recent cyberattack, raising security concerns among users. The platform’s administrators have regained control and are working to restore the channel to its original state. Polygon Discord Breached—Admins Regain Control Access Polygon‘s chief information security officer, Mudit Gupta, explained that the Discord channel was compromised, cautioning users to […]
https://news.bitcoin.com/polygons-discord-channel-hacked-admins-regain-control-amid-security-concerns/
At the end of the day on Friday, U.S. spot bitcoin exchange-traded funds (ETFs) reported a substantial $252 million in net gains. In contrast, ether ETFs continued their downward trend, losing another $5.7 million. Bitcoin ETFs Shine with $252M Inflows; Ether Funds Dip by $5.7M Spot bitcoin ETFs achieved their highest inflow since late July, […]
https://news.bitcoin.com/bitcoin-etfs-soar-with-252m-influx-ether-etfs-experience-another-day-of-losses/
Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard […]
https://news.bitcoin.com/99-arrested-in-philippine-crypto-scam-hub-raid/
China and Russia solidified their cooperation in currency, finance, and within the BRICS framework following a meeting between Chinese Premier Li Qiang and Russian Prime Minister Mikhail Mishustin. They committed to local currency use, payment infrastructure, and mutual investments, while also advancing collaboration in artificial intelligence, sustainable development, and global governance. China and Russia Strengthen […]
https://news.bitcoin.com/china-and-russia-push-for-increased-local-currency-use-in-trade-deepen-brics-cooperation/
The United States is urging countries to collaborate on the responsible use of artificial intelligence (AI) in military applications. A senior State Department official, Mallory Stewart, emphasized the need for countries to agree on AI guidelines that align with international laws. Concerns about the potential negative consequences of AI in military applications, such as prolonged […]
https://news.bitcoin.com/us-african-nations-discuss-responsible-ai-use-in-military-applications/
The Nigeria Inter-Bank Settlement System (NIBSS) has partnered with Zone, a decentralized payment infrastructure company, to improve its payment services. NIBSS will use Zone’s blockchain technology to streamline its Payment Terminal Service Aggregation (PTSA) operations. Both NIBSS and Zone believe that blockchain technology can revolutionize the financial sector and enhance regulatory oversight. NIBSS Enhances Payment […]
https://news.bitcoin.com/nigerian-central-bank-affiliate-partners-with-blockchain-startup-zone-to-boost-payments/
The National Power Administration of Paraguay (ANDE) has recently detected and seized an illegal bitcoin mining operation hosting 693 miners. ANDE inspectors detected a tampered meter that failed to register all the energy consumed by the equipment connected to the power grid. The detection was carried out using SCADA systems. Paraguay Keeps Chasing Illegal Bitcoin […]
https://news.bitcoin.com/national-power-administration-of-paraguay-seizes-693-miners-in-illegal-bitcoin-mining-operation/
PRESS RELEASE. Hollywood’s hottest new social streaming app KINO – think Tik Tok meets Netflix – is giving away $5K this week to 7 lucky people in celebration of the premiere of the groundbreaking documentary “God Bless Bitcoin”. To sign up and secure a spot in the giveaway, please click here for a FREE KINO+ […]
https://news.bitcoin.com/new-hollywood-streaming-app-giving-away-5k-in-celebration-of-god-bless-bitcoin-documentary/
Ryan Salame, a former executive at the now-defunct cryptocurrency exchange FTX, has filed a motion to withdraw his guilty plea in federal court. Salame claims that prosecutors breached an agreement that led him to plead guilty by resuming an investigation into his domestic partner, Michelle Bond. Ryan Salame Challenges Guilty Plea, Claims Government Reneged on […]
https://news.bitcoin.com/ftxs-ryan-salame-seeks-to-void-guilty-plea-citing-governments-alleged-breach-of-plea-agreement/
Federal Reserve Chair Jerome Powell expressed confidence in the central bank’s progress in reducing inflation, suggesting that rate cuts may be on the horizon. Speaking at the Jackson Hole economic symposium, Powell emphasized the Fed’s commitment to achieving its 2% inflation target while maintaining a strong labor market. Rate Cuts Possible as Powell Expresses Confidence […]
https://news.bitcoin.com/fed-chair-powell-signals-confidence-in-inflation-control-hints-at-rate-cuts/
The U.S. District Court for the Northern District of California has denied Kraken’s motion to dismiss a lawsuit by the U.S. Securities and Exchange Commission (SEC). The court determined that the SEC “has plausibly alleged” that certain crypto tokens traded on the Kraken exchange could be considered securities, thereby allowing the case to proceed. Kraken’s […]
https://news.bitcoin.com/us-court-denies-krakens-motion-to-dismiss-sec-crypto-securities-lawsuit/
Crypto exchange Gate.io has secured a sleeve sponsorship deal with Inter Milan, the reigning Italian champions. Gate.io’s logo will be displayed on both men’s and women’s team jerseys. Both parties see this collaboration as a chance to connect with their respective communities and explore opportunities at the intersection of football and cryptocurrency. Sleeve Sponsorship Enhances […]
https://news.bitcoin.com/crypto-exchange-gate-io-secures-sponsorship-deal-with-italian-soccer-giant-inter-milan/
In a leaked recording from an internal meeting, Amazon Web Services CEO Matt Garman discussed the evolving role of software developers in the age of artificial intelligence (AI). Garman suggested that AI could soon take over many coding tasks, urging developers to focus on innovation and customer needs rather than the mechanics of writing code. […]
https://news.bitcoin.com/aws-ceo-predicts-ai-to-transform-software-developer-roles/
Wazirx has defended its recent restructuring strategy following a significant cyberattack that resulted in the theft of over $230 million. The founder reassured stakeholders that this move is not indicative of bankruptcy or liquidation.
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Indian crypto exchange Wazirx has defended its restructuring strategy in response to the July 18 cyberattack that led to the theft of over $230 million. The company emphasized that this approach is the quickest and most legally sound way to address these challenges. “This is not bankruptcy or liquidation since that will take several years,” […]
https://news.bitcoin.com/wazirx-defends-restructuring-decision-founder-assures-not-bankruptcy-or-liquidation/
Based on the metrics collected from Aug. 17 to Aug. 24, 2024, the non-fungible token (NFT) market experienced a lively 24.33% boost in sales compared to the previous week. Sales reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge at $36.62 million. NFT Market Booms With Ethereum at the Helm Reaching $99M in […]
https://news.bitcoin.com/nft-sales-soar-24-as-ethereum-takes-the-lead-this-week/
The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer […]
https://news.bitcoin.com/kraken-crypto-exchange-fined-by-australian-court/
Cursor, an artificial intelligence (AI) company that seeks to “create a magical tool with the aim of writing all of the world’s software,” has announced it has raised $60 million in its Series A funding round. The round had the participation of Andreessen Horowitz, Thrive Capital, Openai, and many others, and gave the company a […]
https://news.bitcoin.com/ai-coding-tool-cursor-raises-60-million-at-a-400-million-valuation/
The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international […]
https://news.bitcoin.com/india-expected-to-release-consultation-paper-on-cryptocurrency-regulations-in-coming-months/
A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The naira’s depreciation has fueled inflation, sparking protests. While most businesses are pessimistic about the naira’s immediate future, […]
https://news.bitcoin.com/nigerian-firms-forecast-further-naira-depreciation/
Bitcoin reached an impressive peak of $64,853 per unit on Friday, spurred by U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted at the possibility of rate cuts in September. The cryptocurrency showed a 5.3% increase in the past day, contributing to a 5.01% rise in the overall crypto market, which […]
https://news.bitcoin.com/bitcoin-blasts-to-64853-powells-rate-cut-hints-lift-entire-crypto-market/
Hamster Kombat, the Telegram tap-to-earn gaming sensation, is facing legal woes in Russia stemming from conflicts between its alleged creator, Eduard Gurinovich, and one of its early investors, Ad.ru, an IT holding company. According to reports from Lenta.ru, a popular Russian online newspaper, Gurinovich created Hamster Kombat using a company named Arenum, of which Ad.ru […]
https://news.bitcoin.com/report-reveals-hamster-kombat-faces-legal-action-from-early-investors/
Bitcoin’s market dominance has reached 56% as long-term holders continue to accumulate despite turbulent market conditions, according to a comprehensive report by Glassnode. The latest onchain report highlights a divergence in investor behavior, with short-term holders bearing the brunt of recent losses. Long-Term Bitcoin Holders Show Resilience, Averaging $138M in Daily Profits, Says Glassnode Glassnode‘s […]
https://news.bitcoin.com/bitcoin-investors-face-diverging-fortunes-as-long-term-holders-stay-steady-glassnode-reveals/
Fed Chair Jerome Powell expressed optimism about the Federal Reserve's efforts to control inflation, hinting that potential rate cuts might be forthcoming. This signals a significant shift in the economic landscape as the central bank navigates post-pandemic challenges.
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Memecoins, initially a niche in the digital asset world, have grown into a significant force within the blockchain and crypto markets. These tokens, often associated with cultural references and humor, present unique opportunities for substantial financial gains, drawing in traders and investors eager for high returns. As these tokens continue to evolve, their influence on […]
https://news.bitcoin.com/gotbit-hedge-fund-memes-are-driving-the-next-wave-of-blockchain-innovation/