Bitcoin News and Finance: What You Need to Know

U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” known as the “ACES Act,” for discussion in the Senate. The piece of legislation seeks to examine the level of adoption of bitcoin as a legal tender in El Salvador and how this might affect the financial stability of the country. ‘Accountability for Cryptocurrency in El Salvador (ACES) Act’ Reintroduced in U.S. Senate U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” also known as the “ACES Act,” to be discussed in the U.S. Senate. The piece of legislation , that was previously presented to Congress on March 23, 2022, seeks to examine the process applied to make bitcoin legal tender in El Salvador, as well as its effect on the economy of the country. When reintroducing the ACES Act, U.S. Senator Jim Risch reinforced the perceived need to assess the possible effects of using crypto as legal tender....

In a recent interview, the renowned investor Paul Tudor Jones expressed his perspective on bitcoin, acknowledging that there might be regulatory challenges ahead. However, Jones emphasized his unwavering commitment to the dominant cryptocurrency, affirming that he maintains “a small diversification” in his investment portfolio and always will. Paul Tudor Jones on Bitcoin: ‘I’m Sticking With It, and I’m Going to Always Stick With It’ In an appearance on CNBC’s “Squawk Box” this week, the legendary hedge fund manager Paul Tudor Jones shared his insights on both bitcoin (BTC) and the U.S. economy. Jones expressed his view that the U.S. Federal Reserve might have gone overboard with its actions, asserting that any rate hikes are unlikely to occur this year. Furthermore, he suggested that inflation could persistently decrease, bringing the Federal Reserve closer to achieving its objectives of controlling inflation than anticipated. Nonetheless, this decline in inflation could present...

On May 15, 2023, the Bitcoin Cash network achieved another annual milestone by seamlessly integrating four cutting-edge features into its consensus ruleset. At precisely 1:24 p.m. UTC on Monday, the eagerly anticipated upgrade went live, marking a significant leap forward for the peer-to-peer electronic cash platform. Bitcoin Cash fans believe the transformative changes are set to revolutionize the blockchain’s ecosystem. Bitcoin Cash Network Takes a Leap Forward With 4 New Ruleset Changes At Bitcoin Cash block height 792,772 , the network successfully upgraded the blockchain. The upgrade is more developer focused and average BCH users do not need to do anything. Only miners and full node operators need to upgrade their BCH software to be compatible with the ruleset changes. Over time, specific bitcoin cash (BCH) compatible wallets can upgrade as well and incorporate some of the new improvements like Cashtokens. Today’s upgrade features four new elements which include: Cashtok...

Bitcoin was back in the green on Monday, as prices climbed back above the $27,000 level to start the week. Prices slipped to a two-month low over the weekend, however momentum has marginally shifted. Ethereum was also higher today. Bitcoin Bitcoin ( BTC ) jumped back above the $27,000 level to start the week, as sentiment showed glimpses of shifting after last week’s bear run. Following a low of $26,762.25 on Sunday, BTC /USD raced to an intraday peak of $27,521.62 earlier in today’s session. The move saw the world’s largest cryptocurrency continue to move away from a floor at $26,500, and a recent two-month low. Bitcoin chart by TradingView Monday’s rise in price sees bitcoin move higher for a second straight day, breaking out of a ceiling on the relative strength index (RSI) in the process. At the time of writing, price strength is now tracking at 43.66, which is marginally above the aforementioned resistance at 43.00. Bulls will now likely be looking to reenter the $...

Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These de-risking policies might affect bilateral trade, which fell by 11.2% to $217.9 billion during the first four months of 2023. ‘De-Risking’ Is a Euphemism for Decoupling U.S. and China Relations, Analysts State Analysts are criticizing the ‘de-risking’ strategy of the US against China. The term, which was mentioned by the U.S. National Security Advisor Jake Sullivan last month, is used to explain the position that the U.S. is adopting in front of the growth and policies of China on the Russia-Ukraine conflict. And while U.S. Treasury Secretary Yanet Yellen has previously stated that a full decuple of the economies of the two countries would be “disastrous,” Chinese analysts believe that this is just a semantics choice. Zhou Xiaoming, a senior researc...

PRESS RELEASE. Reef is thrilled to announce the launch of a $10 Million Accelerator Program for Web3 projects building on the Reef Chain, which are based out of the Middle East. The program, managed by Reef Labs, aims to support, incubate, and invest in promising Middle East-based Web3 developers, teams, and projects building on the Reef Chain. The rise of blockchain/Web3 applications in the Middle East are setting the stage for remarkable technological progress and innovation. Reef has already made a significant impact in the region by securing the Best Ecosystem Award at The Middle-East Blockchain Awards. Driving Growth in the MENA Region: The Accelerator Program seeks to drive Reef’s vision for growth, making it the de-facto blockchain in the MENA (Middle East and North Africa) region. Ideas selected as part of this initiative will benefit from the financial support provided by Reef’s venture partners, along with mentorship, marketing, and business development assistance from...

A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk, a representative in the South Korean National Assembly, announced he will leave his political faction amid a growing scandal surrounding his alleged cryptocurrency dealings. In a Facebook post on Sunday, he wrote: Today, I am briefly leaving the Democratic Party that I love. I decided that it would not be right to be a burden to the party and party members any longer. Kim came under intense scrutiny after revelations that he owned around 800,000 Wemix coins in 2021, Yonhap reported. At the time, the digital assets were worth around 6 billion won ($4.5 million), “a significant amount inconsistent with hi...