Bitcoin News and Finance: What You Need to Know

Warren Davidson, the Republican congressman who first introduced the legislation in mid-April, has filed the SEC Stabilization Act to remove Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC). Davidson insists the act aims to safeguard U.S. capital markets “from a tyrannical chairman.” Legislation Filed to Remove SEC Chair Gensler in Effort to Safeguard U.S. Capital Markets Several Republican lawmakers have openly criticized SEC chairman Gary Gensler for his performance in leading the federal securities regulatory division. Among them is congressman Warren Davidson (R-OH), who recently announced his intention to introduce legislation to remove Gensler from his position. Less than two months later, Davidson filed the SEC Stabilization Act and shared the news on Twitter on June 12th. “U.S. capital markets must be protected from a tyrannical chairman, including the current one,” Davidson said in a statement. “That’s why I’m introducing legislation t...

After several weeks of consecutive gains, sales of non-fungible tokens (NFTs) have slumped 20.44% this week compared to the previous week. According to seven-day statistics, NFT sales totaled $152.96 million last week, with $84 million in sales originating from the Ethereum blockchain. This Week’s NFT Sales Follow Crypto Market’s Nosedive Sales of non-fungible tokens (NFTs) have nosedived more than 20% over the past seven days compared to the previous week. The decline follows several consecutive weeks of gains, during which Bitcoin ( BTC )-based NFTs gained significant prominence. In the last seven days, NFT sales totaled $152.96 million, and the number of NFT buyers decreased by 63.59%. Ethereum-based NFT sales accounted for $84 million, representing 54.91% of the market share among 21 different blockchains. Ethereum-based NFT sales, however, have dropped 34% compared to the previous week. Bitcoin-centric NFTs still hold the second position in terms of sales, with $29.41 in reco...

The Central Bank of Nigeria governor, Godwin Emefiele, was suspended by Nigerian President Bola Ahmed Tinubu on June 9 and was subsequently arrested by a domestic security agency. Several reports have linked Emefiele’s suspension to the central bank’s controversial naira demonetization exercise. Emefiele’s Presidential Aspirations The Nigerian central bank governor, Godwin Emefiele, was on June 9 suspended by the West African nation’s new president Bola Ahmed Tinubu. The suspension is expected to pave the way for further investigations into Emefiele’s conduct throughout his tenure as head of the Central Bank of Nigeria (CBN). JUST IN: The Department of State Services (DSS) have confirmed that Mr Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons. pic.twitter.com/tJJtcEduzZ — Eons Intelligence (@eonsintelligenc) June 10, 2023 Immediately after his suspension, several local media reports said Emefiel...

Bitcoin started the week trading marginally below the $26,000 level, ahead of a key week of economic events. The headline being the upcoming U.S. Federal Reserve meeting. Ethereum remains below $1,800 ahead of this week’s rate decision. Bitcoin Bitcoin ( BTC ) continued to trade around the $26,000 level on Monday, as markets remain volatile following recent fundamental occurrences. BTC /USD rose to a peak of $26,203 earlier in today’s session, following Sunday’s low at $25,675. Monday’s peak sees bitcoin bulls attempt to break a resistance level of $26,300, however market sentiment remains largely bearish. Bitcoin chart by TradingView The relative strength index (RSI) is also tracking close to a level of resistance, with a current reading at 42.16. This is marginally below an upcoming ceiling at 46.00, and slightly above a support point near the 41.00 region. Additionally, the 10-day (red) moving average has maintained its downward course, further expanding bearish sent...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Volcano Energy rises in El Salvador, Venezuelan bitcoin miners flee amidst nationwide mining ban, and Argentina deepens usage of the Chinese yuan to pay imports. Volcano Energy Green Mining Project Rises out of Stealth in El Salvador Volcano Energy, a bitcoin mining project, announced the construction of a 241MW renewable power generation facility in El Salvador. The operation, which will get most of its energy using photovoltaic (solar) cells, will power what it calls “one of the world’s largest bitcoin mining farms,” with a mining processing capacity of 1.3 EH/s in its first stage. The cost of the whole development is estimated to reach $1 billion, with the first phase of $250 million being financed by “Bitcoin industry leaders.” Tether is among the companies participating in the project as part of its recently announced mining and renewable ener...

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