Bitcoin News and Finance: What You Need to Know

Economist Peter Schiff has warned that the U.S. will default on its debt obligations. He further stressed: “All the bad stuff that they’re saying is going to happen if we don’t raise the debt ceiling is guaranteed to happen because we do raise the debt ceiling.” Peter Schiff on U.S. Debt Default Economist and gold bug Peter Schiff warned Monday on the Peter Schiff Show podcast that the United States will default on its debt obligations and that raising the debt ceiling will have devastating consequences. Commenting on politicians claiming that the U.S. debt ceiling must be raised “because we pay our bills,” the economist argued: “We never pay our bills … We have $31.7 trillion in debt. That’s $31.7 trillion of bills that we have not paid. We didn’t pay them. We borrowed the money. And we want to keep on borrowing the money. Nobody wants to pay any of these bills.” Schiff cautioned: It’s only a question of time. It’s not a question of if. It’s just a question of when. We will defa

Economist Peter St Onge has warned that U.S. dollar weaponization will lead to “soaring inflation, a catastrophic fallen American standard of living, and a U.S. that falls off the world stage.” Commenting on the economist’s warnings, Tesla and Twitter CEO Elon Musk weighed in on de-dollarization. De-Dollarization Happening Faster Than People Realize, Says Economist Economist Peter St Onge warned about the dire consequences of weaponizing the U.S. dollar in a video he posted on Twitter Monday. St Onge is a Research Fellow and the Mark A. Kolokotrones Fellow in Economic Freedom at the Heritage Foundation. Before joining the Heritage Foundation, he was a Fellow at the Mises Institute, a Senior Fellow at the Montreal Economic Institute, and an Assistant Professor of International Trade and of Marketing at Taiwan’s Feng Chia University. Citing a former Morgan Stanley analyst, Stephen Jen , stating that the U.S. dollar has already suffered a “stunning collapse” and is losing its reserve

According to the now-defunct crypto lender Voyager, Binance US sent a letter to the company “terminating the asset purchase agreement.” While the announcement was “disappointing” for Voyager, the firm maintained that its customers would still be receiving their cash and crypto through a “direct distribution” via the Voyager platform. Voyager’s Asset Purchase Agreement With Binance US Scrapped Towards the end of 2022, Binance disclosed that its US subsidiary had entered into a billion-dollar agreement with Voyager Digital Ltd. to acquire its assets. Despite objections from the US Securities and Exchange Commission (SEC), the purchase was allowed to proceed after receiving court approval . However, on April 25, 2023, Voyager revealed that the deal was no longer moving forward. “Today we received a letter from Binance US terminating the asset purchase agreement. While this development is disappointing, our Chapter 11 plan allows for direct distribution of cash and crypto to customer

Bitcoin remained close to a four-week low on Tuesday, as prices fell to a support point around $27,000. The decline came ahead of this afternoon’s U.S. consumer confidence report, which is expected to fall from 104.2, to a reading of 104 in April. Ethereum was also lower, and approached a breakout below the $1,800 level. Bitcoin Bitcoin ( BTC ) continued to trade near a one-month low, as markets prepared for the upcoming consumer confidence report in the United States. Following a high of $27,701.26 during yesterday’s session, BTC /USD fell to a low of $27,070.85 on Tuesday. This is the weakest point that bitcoin has fallen to since March 28, which is when it last traded below $27,000. Looking at the chart, it appears that this drop took place as the relative strength index (RSI) moved back towards a floor at 41.00 At the time of writing, price strength is tracking at 43.14, following a failed breakout of a ceiling at 45.00. Should bears push the index below 41.00, there is a g

A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement on property rights. Cryptocurrency an ‘Undefined’ Payment System in Uganda The High Court in Uganda recently dismissed an application that sought to upend a central bank directive that bars cryptocurrency transactions. In his ruling, the court’s Justice Musa Ssekaana, insisted that the Bank of Uganda (BOU)’s April 2022 directive does not infringe on individual property rights. Instead, the directive is an attempt by the central bank not to legalize the “undefined system as a payment instrument in Uganda.” As previously reported by Bitcoin.com News in May 2022, the BOU warned parties disregarding its directive that it will not hesitate to invoke “its powers under

Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included in some limited programs before. Public Employees in Changshu to Receive Payments in Digital Yuan The city of Changshu, with a population of more than 1.5 million, will be the first city to use the digital yuan to pay wages of public employees, according to reports from local media. The measure will affect public servants of government offices, as well as schoolteachers, medical staff, employees of state companies, and all who directly receive their wages from the city. The move is part of the plan of Jiangsu province, in which Changshu is located, to increase the usage of this kind of digital currency, which has not received the expected attention of the citizens, who still prefer to pay using a

Standard Chartered says crypto winter has ended and the price of bitcoin could reach $100K per coin by the end of next year. The global bank’s analyst has identified several factors contributing to the surge in the price of the cryptocurrency, including the recent turmoil in the banking sector. Standard Chartered Bank on Bitcoin Hitting $100K Global bank Standard Chartered said Monday that “crypto winter” is over and the price of bitcoin could reach $100,000 by the end of 2024. Standard Chartered’s head of digital assets research, Geoff Kendrick, explained in a note that bitcoin stands to benefit from various factors. They include the recent turmoil in the banking sector, a stabilization of risky assets as the U.S. Federal Reserve ends its cycle of interest rate hikes, and the enhanced profitability of cryptocurrency mining. The analyst wrote: While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer. A growing number of individuals

Victoria, Seychelles, April 24, 2023 – Bitget , the largest crypto copy trading platform, announced that its native platform token BGB will be listed on Bitfinex, driving liquidity and accessibility while increasing its value and utility. The supported trading pair is BGB/USDT, and the trading service will be opened at Bitfinex. BGB is a utility token that plays a vital role in Bitget’s ecosystem, with a circulating supply of 1,400,000,000 BGB coins and a total supply of 2,000,000,000. It provides users with access to exclusive privileges and various rights on the Bitget exchange, including fee discounts, opportunities to join Launchpad and Launchpool to access high-quality tokens, vote for project listings, and so on. Gracy Chen, Managing Director of Bitget says , “ We are thrilled to see BGB listed on Bitfinex’s platform , reflecting the recognition and achievement of Bitget in the crypto space. With the ongoing initiatives to increase the usage and value of BGB, we expect tha

Ron Paul, the former U.S. presidential candidate and former U.S. congressman, has stated that recent geopolitical events have caused nations to start ditching the U.S. dollar. Paul stated that the debasement of the currency, the manipulation of prices, and sanctions against other nations have made other countries afraid of holding dollars. Ron Paul Believes De-Dollarization Is Happening at a Rapid Pace Ron Paul, former U.S. presidential candidate and former U.S. congressional representative, has talked about how he believes de-dollarization is starting to accelerate recently, even if he does not know when the U.S. dollar will lose its reserve currency status. In the latest episode of “The Ron Paul Liberty Report,” his online videocast, Ron Paul clarified a global reduction in the percentage of reserves held in U.S. dollars is caused by several circumstances, including “America’s endless wars, sanctions, wokism, nihilism, and unconstitutional abuses.” About the consequences of th

Bitcoin started the week on the brink of a downwards crossover of two key moving average trend lines, which could signal an upcoming price drop. The 10-day and 25-day moving average look set to cross, potentially leading to a breakout of the $27,000 level. Ethereum is trading above a floor at $1,830 as of writing. Bitcoin Bitcoin ( BTC ) is on the brink of registering a downward crossover of its 10-day (red) and 25-day (blue) moving averages. A recent downtrend, which today pushed BTC /USD to an intraday low of $27,192.03, has also led to an overall shift in market momentum. This latest low in bitcoin comes less than a day after the world’s largest cryptocurrency traded at a high of $27,979.98. Bitcoin chart by TradingView Overall, BTC is trading over 7% lower than at the same point last week, when the price was above $30,000. In addition to the potential crossover of moving averages, the 14-day relative strength index (RSI) continues to hover close to a floor at 42.00.

Russia will increase its reliance on national currencies to settle payments for its energy resources, moving away from the US dollar, according to Russian Deputy Prime Minister Alexander Novak. Novak noted there is a great interest in acquiring Russian energy resources, leading Russia to accept more currencies for these settlements. Russia Aims to Settle Energy Trades Away From the U.S. Dollar Russia is gradually moving to the use of national currencies, such as the Chinese yuan and the Russian ruble, to settle energy trades, moving away from the U.S. dollar. Alexander Novak, Russian deputy prime minister, stated that this trend of adopting national currencies accelerated due to the sanctions enacted by Western nations as a consequence of the Russia-Ukraine conflict. In a TV interview given to a Russian network, Novak stated : The trend has changed very much to less use of dollars or euros. Given the current problems in settlements with these currencies, in our settlements we are

PRESS RELEASE. Austin, TX – MyEListing.com , a free commercial real estate listings and data platform, has partnered with Millennial Title, and Championship Title to create a marketplace where anyone in the world can buy and sell US residential & commercial real estate with crypto via an integration with Coinbase Commerce, and close within one business day. The initiative is called the ASAP (Accelerated Sale And Purchase) program . MyEListing.com hosts the marketplace, Coinbase Commerce converts the buyers’ crypto into cash for the seller, and Millennial Title as well as Championship Title handle the title work. “This initiative will drive innovation in the crypto and real estate industries,” says Caleb Richter, CEO of MyEListing.com. “Real estate commerce needs to be changed. It’s hard enough as it is to buy property in your local neighborhood, let alone in another state or country. With the ASAP program, anyone, regardless of the language they speak or where they are in the

The Syrian foreign minister says the U.S. imposes sanctions on Syria and Russia to steal their assets and keep them under its hegemony. The U.S. is “the biggest beneficiary of wars and fueling global conflicts, with the aim of maintaining the dominance of the dollar in the global economy and trade,” said a Russian official. US Sanctions Aimed at Stealing Assets and Keeping Targeted Nations Under Its Hegemony, Says Syrian Official The Syrian Minister of Foreign Affairs and Expatriates, Faisal Mekdad, met with Alexander Yakovenko, the Rector of the Diplomatic Academy at the Russian Foreign Ministry on Thursday. During their meeting in Damascus, Mekdad slammed the U.S. and its Western allies for imposing unilateral sanctions on his country and several other nations, according to the Syrian government-controlled news agency, SANA. He explained that the West is attempting to maintain its dominance over the world by creating rules that align with its own objectives and ambitions, regard

Russia has warned that existing and new anti-Russia sanctions imposed by the U.S. and other Western countries will lead to a global economic crisis. “Both the current sanctions that have been imposed against our country and the new additional steps that Brussels and Washington are probably thinking about now will hit the global economy hard,” the spokesperson for Russian President Vladimir Putin said. Sanctions Will Lead to Global Economic Crisis, Says Russian Official Russian President Vladimir Putin’s press secretary, Dmitry Peskov, told reporters on Friday that anti-Russia sanctions will have a detrimental impact on the global economy, with the potential to spark a global economic crisis. “We proceed from the fact that in any case, both the current sanctions that have been imposed against our country and the new additional steps that Brussels and Washington are probably thinking about now will hit the global economy hard,” Putin’s spokesperson was quoted by Tass publication as s

Last year in July, it was widely reported that the now deceased, enigmatic tech magnate John McAfee’s body was still in a Spanish morgue for a full year after his untimely demise. McAfee’s widow, Janice, has taken to social media to voice her distress over the extended delay in the release of his remains. It is a matter of great frustration to her that, even after an incredible 670 days, she is still unable to grant her beloved husband a proper burial. John McAfee’s Widow Demands Answers on Delay in Releasing His Remains On April 23, 2023, Janice McAfee tweeted about her late husband, John McAfee, insisting that he had been in a morgue for 670 days. In July 2022, Bitcoin.com News reported on McAfee’s remains sitting in the morgue for a year. Janice is still complaining about the issue and asking why there is a holdup. “670 days since John’s ‘suicide,'” Janice tweeted . “670 days and his remains have still not been released. 670 days and his autopsy report has still not been rel

In the midst of a turbulent week for the crypto market, non-fungible token (NFT) sales have shown resilience, experiencing a surge of 7.74% in weekly sales, totaling $181.82 million. Data also reveals that there has been an increase of 41% in NFT buyers over the course of the week, surpassing the number of buyers recorded in the previous week. Despite Crypto Market Drop, NFT Sales Increase by Nearly 8% Of the total sales this week, the Ethereum ( ETH ) blockchain contributed a significant portion, amounting to $124.7 million, while $22.66 million came from the Solana (SOL) blockchain. While ETH-based NFT sales experienced a slight drop of 1.75%, SOL-based NFT sales swelled by 88.19%, according to cryptoslam.io metrics . The top five chains which recorded the highest NFT sales over the last seven days include ETH , SOL, MATIC, BNB , and Immutable X. Bored Ape Yacht Club (BAYC) emerged as the top-performing NFT collection this week, with sales reaching $16.38 million. BAYC sales ros

Bitcoin proponents eyeing fiat failures are in no shortage of news on the topic as of late, as multiple officials, economists, authors, and analysts from around the world have been weighing in on “de-dollarization” in a prolific fashion. Author and libertarian Jeffrey Tucker said recently: “The dollar’s just not going to be king,” and Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate.” In related news, the historic fall of Italy’s Medici bank could shed some light on movements being witnessed in the global banking sector over 600 years later. Jeffrey Tucker on De-Dollarization: USD Will No Longer Be King, We’re at Turning Point for US Dollar Jeffrey Tucker says we are at the turning point for the U.S. dollar, citing a growing de-dollarization trend. “The dollar’s just not going to be king,” he warned, adding that history will record recent events “as the turning point for the dollar.” Read More De-Dollarization Trend Irreversible, Flight From US

Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions. Ukraine Set to Incorporate EU Crypto Regulations Into National Law A regional leader in crypto adoption, Ukraine now plans to follow in the footsteps of the global leader in crypto regulation, the European Union. Statements in Kyiv have indicated that Ukrainian authorities are going to incorporate the new EU norms into their country’s legal framework. On Thursday, European lawmakers gave their final approval to the Markets in Crypto Assets (MiCA) package. It is the world’s first comprehensive attempt to regulate the crypto space. It introduces licensing for crypto service providers and mechanisms for investor protection. “This is a truly historic event, I am sure Ukraine will be one of th

China has urged the U.S. and other developed nations to assess the spillover effects of their economic and financial policies. “The economic and financial policies of the U.S. pose the biggest challenge to global financial stability,” according to the Chinese Ministry of Foreign Affairs. China Cautions About U.S. Economic and Financial Policies Wang Wenbin, a spokesperson for China’s Ministry of Foreign Affairs, expressed concerns over the state of the global economy at a press conference Thursday. Commenting on the recent International Monetary Fund (IMF) Global Financial Stability report pointing out that the turmoil in the U.S. banking sector has increased the risk of global financial stability, the Chinese official said: “Global financial stability bears on the recovery and development of the world economy and the common interests of all countries, and requires the world’s common efforts.” Emphasizing that “The notable global financial risks have much to do with the aggressive

Economist Peter Schiff has warned that a death blow is coming for the U.S. dollar and the USD will lose its global reserve currency status in this financial crisis. “People are still reluctant to call it a financial crisis, but that’s exactly what it is, except it’s bigger in scale and it’s going to be far more impactful than the 2008 crisis,” Schiff stressed. Peter Schiff on U.S. Dollar’s ‘Death Blow’ Economist and gold bug Peter Schiff explained that a death blow is coming for the U.S. dollar as a global reserve currency in a recent interview with Commodity Culture, which he shared this week. Regarding whether de-dollarization is happening and whether it’s a real threat to the U.S. dollar’s global reserve currency status, Schiff said: “The only thing that’s surprising about the dollar’s reserve status is that it still has it. Despite everything that we’ve done, we still haven’t lost that privilege.” He elaborated: I think the current financial crisis which just started is going

Rich Dad Poor Dad author Robert Kiyosaki has shared why he loves bitcoin and when he began investing in the cryptocurrency. Expecting to see $100K per bitcoin, he emphasized that the crypto does not need the Fed or government bailout because it’s “people’s money.” Why Robert Kiyosaki Loves Bitcoin The author of Rich Dad Poor Dad, Robert Kiyosaki, shared on Twitter Thursday why he loves bitcoin. He expects to see the price of BTC hit $100K. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. Over 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Thursday explaining that years ago, he watched the price of the largest cryptocurrency climb to $20,000 and then shed almost all of its value. At the time, he thought bitcoin was finished. However, when BTC slowly climbed to $6,000, he bought “lots” of it. His reasoning was that pe

In the aftermath of a downturn in the wider crypto market, the top crypto assets bitcoin and ethereum have each risen modestly, between 1.2% to 1.6%, over the past 24 hours. However, the meme token pepe (PEPE) has surged 77% against the U.S. dollar, and its market capitalization has swelled to $141 million, just $24 million shy of its all-time high valuation. Other top meme coin assets, including dogecoin and shibu inu, have risen by 1.2% to 1.4% today, while baby doge coin has experienced a 10% increase in value over the past day. While the Meme Coin Market Is Down, Pepe and Babypepe Tokens Jump in Value The meme coin market has declined 3.1% against the U.S. dollar over the past 24 hours and currently stands at $18.9 billion. On Saturday, eight of the top ten meme coins saw daily gains, with the new crypto asset pepe (PEPE) leading the way. PEPE has risen 77% in the last day and is now 513.15% higher than the meme coin’s all-time low of $0.000000055142 per unit, which was record