Cryptocurrency

The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report.  The United Kingdom is currently working on a crypto regulatory framework that would mix existing financial asset laws with new crypto-specific rules.

The G7 committee recently met in Niigata, Japan, to discuss, among other topics, the global financial implications for central bank digital currencies (CBDCs) and the laws governing the transfer of cryptocurrency assets. In a communique summarizing the discussions, the committee reiterated its support for developing CBDCs with the caveat that further investigation was needed to

Your guide to the exhiliarating and vaguely terrifying world of runaway AI development. It’s been a hell of a couple of weeks for Melbourne digital artist Rhett Mankind, 46, who enlisted ChatGPT to create a $100 million market cap coin called Turbo, which has now inspired a Beeple artwork and saved a man’s life. Mankind,

The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment. A silver lining is Bitcoin’s solid bounce on May 12. Several analysts

Bitcoin (BTC) extended its decline on May 12 but analyst Philip Swift, co-founder of trading suite DecenTrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.” One of the reasons that is keeping

MakerDAO, the decentralized autonomous organization (DAO) behind the Dai stablecoin and its related Maker governance token, recently announced a slew of planned updates to its ecosystem, including a heavy focus on artificial intelligence (AI) technologies and the planned development of a new blockchain.  Beginning with an upgrade to unify the organization’s brand, the new roadmap

On May 11, Milady (LADYS), the self-organized memecoin of the namesake anime avatar nonfungible tokens (NFT) collection, surged by over 5,250% within 24 hours to trade at a $0.0000001528 at the time of publication. The day prior, American business magnate Elon Musk tweeted a meme using the imagery of a Milady NFT, sending the average

An often overlooked aspect of the cryptocurrency market’s reputation for volatility is the effect sudden market changes can have on the mental health of traders and investors. Addiction to day trading, or pathological trading, is already well-known among stocks and commodities traders and has been extensively documented by medical professionals. There are even rehab programs

Financial technology company PayPal recently disclosed its cryptocurrency holdings in a quarterly report filing to the Securities and Exchange Commision (SEC).  Claiming a combined total of $943 million in cryptocurrency assets as of March 31, 2023, the filing shows a 56% increase over the company’s previous quarter where PayPal disclosed $604 million. PayPal’s reported total financial

A single trader just spent a staggering 64 Ether — equivalent to $118,000 — in gas fees purchasing $155,000 worth of a memecoin called Four (FOUR). According to an update from the popular blockchain tracking service ‘Whale Alert’, the lone trader paid an astonishing $119,157 in Ether (ETH) to complete a Unsiwap trade that swapped

Other than representing a claim of one’s assets, LP tokens can be used across multiple DeFi platforms in ways that can accrue the investment’s value. How do LP tokens gain value? They gain value as a fundamental component of DeFi, contributing to the smooth operation of the DEXs and AMMs used by these DApps.  One

Top Stories This Week Memecoin hype drives Bitcoin transaction fees to multi-year highs The ongoing trading frenzy of memecoins like Pepe has triggered an unwanted consequence for Bitcoin (BTC) — raising its transaction costs to their highest point in two years. On May 3, the total amount of fees paid on the Bitcoin blockchain reached

Decentralized Finance (DeFi) protocol DEUS has lost over $6 million due to a security breach on its stablecoin DEI. The hacker exploited a vulnerability in the BNB Smart Chain (BSC) on May 5, according to blockchain security firm PeckShield.  A bot initiated the hack on the BSC, which led to a loss of more than

Confidence in the United States financial system seems to be eroding fast with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse

The frog-themed memecoin Pepe (PEPE) surged over 85% in the last 24 hours and surpassed a $1 billion market cap three weeks after it was first launched on April 14, 2023. Ironically, the core value proposition of PEPE is that there isn’t one. The official website for the cryptocurrency features a disclaimer that describes investment

Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the

On May 2, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Weekly Report,” which stated that the digital asset market experienced bearish sentiment for the second consecutive week, resulting in outflows totaling $72 million. The report noted that the bearish sentiment could be attributed to the probability of further interest rate hikes

The majority of people will have their wealth progressively eaten away by the devaluation of money, according to Arthur Hayes, the co-founder and former CEO of crypto derivatives exchange BitMEX.  According to Hayes, due to the huge amount of public debt accumulated by the world’s largest economies, governments will have no choice but “inflating it

A Coinbase executive claims to have discovered a “jailbreak” for artificial intelligence tool ChatGPT, allowing it to calculate the probability of bizarre crypto price scenarios. The crypto exchange’s head of business operations and avid ChatGPT user Conor Grogan shared a screenshot of the results in an April 30 Twitter post — showing that ChatGPT states

Polygon Labs and Google Cloud announced a multi-year partnership at Consensus 2023 that will see the cloud computing service provider help boost the development of the Ethereum (ETH) scaling protocol’s tools and infrastructure. Polygon’s core protocols, including Polygon PoS (proof-of-stake), Polygon zkEVM and Polygon Supernets, are set to benefit from the provision of Google Cloud’s