Bitcoin News and Finance: What You Need to Know

According to the token protocol startup Noble, the second-largest stablecoin, USDC, will be integrated into the Cosmos blockchain, as the company has partnered with Circle Financial for the rollout. Noble details that the integration will give access to Circle’s USDC stablecoin to more than 50 Inter-Blockchain Communication (IBC) networks. USDC Native Support Is Coming to the Cosmos Blockchain Noble , a token issuance protocol startup, has revealed the Cosmos network of IBC protocols will support USDC. The team introduced Noble last week in a blog post that describes the protocol as an “app-chain purpose-built for native asset issuance in Cosmos and the boundless Inter-Blockchain Communication (IBC) ecosystem.” On Tuesday, Noble announced its partnership with Circle Financial to bring USDC to the Cosmos ecosystem. “This is a huge moment for our ecosystem,” Noble said on Tuesday. “Cosmos has never had a native, fiat-backed stablecoin that is highly liquid [and] fully collateralize...

Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic system.” Crowley Warns of ‘Catastrophic’ Consequences if the U.S. Dollar Loses Global Reserve Currency Status Monica Crowley, former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury, explained on Fox News Saturday what would happen if emerging economies move away from the U.S. dollar towards the Chinese yuan and the USD is no longer the world’s dominant currency. She stressed: It’s really hard to overstate exactly how catastrophic the abandonment of the U.S. dollar would be as the world’s global reserve currency. Crowley explained that since the end of World War II, the dollar has been considered a safe haven. I...

According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after laying the groundwork by labeling lawful businesses as “reputationally risky,” federal bank regulators, with the help of state officials, “turned to the task of purging their accounts from each of the banks subject to their supervision.” Constitutional Issues Raised by Operation Chokepoint 2.0: Depriving Businesses of Due Process and Key Structural Constitutional Protections Five days ago, Bitcoin.com News published an article that examines recent discussions in the crypto community regarding “Operation Chokepoint” and why crypto proponents believe the U.S. government aims to eliminate access to cryptocurrencies. On Monday, the Washington D.C. law firm Cooper & Kirk published a white paper on the subject, noting that U.S. ...

Steve Hanke, professor of applied economics at Johns Hopkins University, has criticized bitcoin, stating it is not a currency. The economist, known for his vocal opinions about crypto and for the promotion of dollarization initiatives in Latam, blasted bitcoin, saying it has a “fundamental value of zero,” and that it is a “highly speculative asset.” Steve Hanke Criticizes Bitcoin’s Function and Value Steve Hanke, professor of applied economics at Johns Hopkins, has criticized bitcoin and its value in one of his latest tweets. The economist, known to be very vocal about the negative effect that crypto can have on world economies, contested bitcoin’s utility, stating : Bitcoin is not a currency. It’s just a highly speculative asset with a fundamental value of zero. Hanke illustrated his opinion with a cartoon drawn by Robert Rich, as part of his work for Hedgeye Risk Management, where he compares other main fiat currencies including the dollar, the yen, and the euro, with bitcoin...

President Nayib Bukele is promoting El Salvador as the “new land of the free,” as part of an invitation for foreigners to move to the Latam country. Bukele tweeted a poster in vintage American style that included several advantages that the country brings its citizen, including the adoption of bitcoin as legal tender. EL Salvador’s ‘New Land of the Free’ Campaign Invites People to Move in With Bitcoin as Legal Tender President Nayib Bukele is inviting people to move to El Salvador. Bukele posted a poster in vintage American style where he depicts a classic American family in a living room, calling his country “the new land of the free,” a motto usually applicable to the U.S. The poster serves to exhibit the achievements that, according to him, his government has reached, principally in the security and monetary policy areas. The poster calls for people to move to El Salvador, explaining that there are “no fentanyl crisis,” “no shootings” and “no lootings,” as a product of the tigh...

Tim Draper, a venture capitalist and bitcoin millionaire, has included bitcoin as part of a series of cash management recommendations offered to startup founders. Draper recommended having at least two payrolls worth of cash in bitcoin or other cryptocurrencies to avoid being affected by bank failures like the collapse of Silicon Valley Bank (SVB). Tim Draper Touts Bitcoin as Hedge Against Bank Failures Tim Draper, a well-known venture capitalist and crypto enthusiast, has recommended bitcoin as part of his cash diversification advice for business founders. Draper, known for winning an auction of 30,000 bitcoins from the U.S. Marshals back in 2014, and for his bitcoin price predictions , posted a document on Twitter that comments on several considerations businesses should make in the face of bank failures. The document , which presents seven different ways to avoid a cash crunch, states: Since boards and management are responsible for making payroll, even in times of crisis, it...