Bitcoin News and Finance: What You Need to Know

U.S. Treasury Secretary Janet Yellen has insisted that the U.S. could default on its debt obligations on June 1. “I think that’s a hard deadline,” she stressed. Meanwhile, global investment bank Goldman Sachs has estimated that the “real deadline” for a possible U.S. default is “more like” June 8-9. Yellen and Goldman Sachs on U.S. Default, Debt Ceiling U.S. Treasury Secretary Janet Yellen reiterated her concerns about a possible U.S. default on NBC’s “Meet the Press” Sunday. Responding to a question about the June 1 deadline for a possible U.S. default, she said: I indicated in my last letter to Congress that we expect to be unable to pay all of our bills in early June and possibly as soon as June 1. And I will continue to update Congress, but I certainly haven’t changed my assessment. So I think that’s a hard deadline. However, the U.S. government is expecting some tax payments on June 15 which would provide some revenue. When asked about the likelihood the U.S. could get to ...

Multiple sources have reported that the Dash blockchain came to a standstill at block height 1,874,879 following an attempted upgrade to version 19 by the developers. As of now, data indicates that the most recent block verified on the network was over 16 hours ago. Dash Network Upgrade Fails, Resulting in Block Production Halt, Cause Is Currently Unknown On Monday, May 22, 2023, block production came to a halt, prompting Dash Core Group CTO Samuel Westrich to take to Twitter at 1:12 a.m. Eastern (ET) to address the issue. In his tweet, Westrich revealed that the Dash Core upgrade to version 19 had encountered a snag, causing the chain to stall and block production to cease. “The chain is stalled and currently not producing blocks. We have everyone investigating the issue. I will continue with updates on Twitter as we have more information,” he wrote. As of 4:30 p.m. (ET) on Monday, block production remains at a standstill. There are also indications that the upgrade may have cau...

According to an extract from a book called “Rigged,” central banks and global policymakers helped coordinate the rate-rigging scandals Libor and Euribor on a large scale. Written by Andy Verity, the book exposes how various central banks and politicians exerted pressure on banks during the Great Financial Crisis (GFC). This coordinated effort sheds light on the extent of the scandal and the alleged involvement of powerful institutions in manipulating the rates. Verity’s ‘Rigged’ Uncovers Shocking Details About Rate-Rigging Scandals The Times dropped a financial bombshell on May 22, 2023, with an exclusive extract from Andy Verity’s latest book, “Rigged.” The article details how central banks and governments exerted pressure on banks to manipulate key interest rates during the 2008 financial crisis. Shockingly, this information was not utilized when the U.S. Department of Justice (DOJ) and the U.K.’s Serious Fraud Office cracked down on nearly 40 traders and brokers involved in the...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  Throughout May, the crypto market has remained steady, with a valuation just above the $1 trillion mark. Over the past 30 days, both bitcoin and ethereum prices have remained relatively stable. However, recent data reveals a significant amount of bitcoin has been withdrawn from exchanges, with 43,301 BTC , valued at $1.16 billion, leaving centralized trading platforms in the past month. A large number of major cryptocurrency exchanges have seen a significant outflow of bitcoin, according to data. Exchanges Experience Crypto Exodus Despite Steady Market As of May 21, 2023, centralized crypto exchanges held $57.29 billion worth of bitcoin, equivalent to 10.99% of the leading cryptocurrency’s market capitalization. However, since the collapse of FTX on November 5, 2022, a significant amount of BTC has been withdrawn from exchanges. Prior to this event, Cryptoquant data shows ce...

Massive Gaming, a leading name in the gaming industry, is set to create waves yet again with its highly anticipated House of Slots game. To celebrate the global launch of this Vegas-styled social casino genre, Massive Gaming is hosting an unprecedented event – a 1 Bitcoin Giveaway Free Bonus extravaganza on May 15th, 2023. The event promises to be a game-changer, offering participants a chance to win exciting prizes in the form of BTC , ETH , and USDC, some of the most renowned cryptocurrencies in the market. With a whopping 400 winners expected to be awarded, the House of Slots event is set to captivate gaming enthusiasts worldwide. What sets this event apart is the opportunity for players to earn USDC by engaging with House of Slots. The more USDC participants accumulate during the event period, the higher their rank and chances of winning the incredible prizes. The top-ranked player will be rewarded with a staggering 1 BTC , while the second and third-ranked players will receive ...

The Russian Federation is collaborating with partners to link payment systems alternative to the interbank messaging system SWIFT, a representative of the country’s Ministry of Foreign Affairs announced. The work is part of the de-dollarization of the economy, the official indicated. Russia Seeking to Substitute SWIFT in Trade as Part of De-dollarization Policy The Russian government is actively involved in joint efforts with partners to pair national payment systems alternative to SWIFT , Dmitry Birichevsky, director of the Department of Economic Cooperation of the Russian Foreign Ministry, told journalists at the sidelines of the International Economic Forum “Russia – Islamic World: Kazan Forum.” In the context of the beginning de-dollarization of the economy, one of the main conditions for the stable development of trade, economic, and investment ties is the availability of an independent payment and settlement infrastructure, Birichevsky elaborated quoted by the Tass news agenc...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  Sotheby’s, the luxury auction house, successfully generated $2.5 million through the sale of non-fungible tokens (NFTs) from the now-defunct crypto hedge fund Three Arrows Capital (3AC). Among the sold pieces was Fidenza #725, a digital collectible crafted by the artist Tyler Hobbs. This Fidenza #725 NFT commanded an auction price of over $1 million during Sotheby’s Contemporary Day Sale. Sotheby’s Brings in $2.5 Million From 3AC’s NFT Collection On May 19, 2023, Sotheby’s auction unveiled the sales figures for the NFT collection of Three Arrows Capital (3AC), a now-bankrupt Singaporean crypto hedge fund, with a total of $2.5 million. Sotheby’s took to Twitter on Friday afternoon to announce that Tyler Hobbs’ Fidenza #725 NFT fetched $1,016,000, nearly five times the high estimate. The 3AC NFT auction, known as the “Grails” NFT collection, was first revealed by Sotheby’s in...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  From the beginning of this year, the crypto economy has surged by 41.77%, reaching a current market capitalization of $1.17 trillion. However, amidst this growth, the stablecoin economy experienced a substantial loss of $7.3 billion within a span of 140 days. Stablecoins Experience a Significant Shift As per the latest data, the stablecoin economy has witnessed a $7.3 billion decline in value in 2023. Archived records indicate that on January 6, the stablecoin economy stood at a valuation of $138.12 billion , but as of today, it has dwindled to $130.79 billion . Notably, numerous stablecoin projects experienced substantial redemptions in the past four months, with USDC alone shedding over $14 billion. Similarly, BUSD suffered redemptions exceeding $11 billion since the first week of January, while DAI faced redemptions amounting to $361 million. While USDC and BUSD experienc...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  With the 2024 U.S. presidential election drawing near, the enthusiasm of bitcoin and cryptocurrency advocates has intensified, as two candidates have emerged in the race who openly express their support for bitcoin and willingly accept the dominant digital asset for campaign contributions. Initially, it was Democrat Robert F. Kennedy Jr. who vocalized his stance on cryptocurrencies. However, not long after Kennedy’s announcement, Republican presidential contender Vivek Ramaswamy followed suit by declaring that his campaign is now embracing bitcoin as well. Biden and Trump’s Animosity Towards Bitcoin In just over a year, the American populace will cast their votes for the next leader of the United States on Tuesday, November 5, 2024. As the nation awaits this occasion, it has become apparent that a familiar rivalry may once again take center stage. Both the current U.S. presid...

Jia, a blockchain fintech startup, recently revealed it has raised $4.3 million in a seed funding round which was led by the early-stage consumer crypto fund TCG Crypto. Jia has said it will use the funds raised to bolster its Kenyan and Philippines operations. Later, Jia will also use the capital raised to fund the exploration of new markets. Affordable Financing for Small Businesses Jia, an Africa and Asia-focused blockchain fintech, recently raised $4.3 million in seed funding plus an additional $1 million for onchain liquidity. According to a Techcrunch report, TCG Crypto, an early-stage consumer crypto fund, led the round. Also participating in the round were Blocktower, Hashed Emergent, Saison Capital and Global Coin Research. Angel investors that participated in the round include Packy McCormick, Anand Iyer, Jared Hecht and Rory Eakin. As per the report , Jia is planning to bolster its operations in Kenya and the Philippines with the capital raised. Afterwards, the startup ...

Russia and the Islamic world are currently discussing how to deepen the de-dollarization agenda to create a new financial system. According to statements from Russian Deputy Prime Minister Alexey Overchuk, these topics are inscribed in broader deglobalization talks, and the Russian government is invested in developing these issues with Islamic countries. Russia Talks De-Dollarization With Islamic Nations Russia is veering to the east in order to build a less polarized world and is currently involved in talks about de-dollarization and the construction of a new financial system away from the dominance of the traditional hegemonies. According to Russian Deputy Prime Minister Alexey Overchuk, the Russian Federation is currently in broad talks with the Islamic world that include these subjects and other related topics. During the international economic forum Russia-Islamic World: KazanForum, Overchuk stated : Our relations with the countries of the Islamic world cannot but be influen...

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says the U.S. dollar’s time is coming to an end as more countries are seeking alternatives to the USD. “Many friends of America are moving, trying to find something to compete with and ultimately replace the U.S. dollar. It will happen. It has always happened,” he warned. ‘American Dollar’s Time Is Coming to an End,’ Says Rogers Famed investor Jim Rogers shared why he expects the U.S. dollar to lose its status as the world’s reserve currency in an interview with Sputnik, published Wednesday. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management. “Many friends of America are moving, trying to find something to compete with and ultimately replace the U.S. dollar. It will happen. It has always happened,” the famous investor began. He was quoted as saying: America’s time is coming to an end. The American dollar’s time is coming to an...

Rich Dad Poor Dad author Robert Kiyosaki believes that the U.S. economy is headed for a crash landing. “I hope I am wrong yet that is what I believe,” he opined. The famous author also said a financial pandemic has started and corruption is high, reiterating his recommendation to buy gold, silver, and bitcoin. Robert Kiyosaki Believes a Crash Landing Is Coming The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the U.S. economy. 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. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Thursday: Soft landing? Hard landing? Or Crash landing? I say crash landing. I hope I am wrong yet that is what I believe. “Corruption is high & leaders corrupt. Buy gold, silver, bitcoin. Still best insurance against corruption & incompetence,” hi...

In four days, representatives from the BRICS nations and the Eurasian Economic Union free trade group are set to convene to explore the possibility of integration with the Shanghai Cooperation Organization (SCO), as revealed by a recent russia-briefing.com report. The report emphasizes the formation of a vast Eurasian regional alliance that excludes Western involvement, with the aim of fostering greater collaboration and “reformatting the global economic architecture.” BRICS, EAEU, SCO to Discuss Moving Beyond Western Boundaries Russia Briefing, in its May 17, 2023 publication, unveiled an interesting development involving the convergence of several prominent nations. The leaders of the BRICS nations — Brazil, Russia, India, China, and South Africa — are scheduled to convene with policymakers hailing from the Eurasian Economic Union free trade group (EAEU). Notably, the EAEU comprises Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. The primary objective of this gathering is t...

The Central Bank of Russia predicts an increase in the issuance of digital assets, citing some of their advantages. The monetary authority has published a report presenting the progress made by the growing industry and assessing the prospects for its further development. Russia’s Central Bank Issues Report on Market for Digital Assets The Central Bank of the Russian Federation (CBR) expects the volume of digital financial assets (DFAs) issued in the country to increase significantly in the future. The regulator believes that growth will be facilitated by the transparency and ease of use of these alternative instruments. According to a report quoted by the crypto page of the business news portal RBC, the bank also anticipates the emergence of new types of digital assets that will have no analogues in the traditional financial market and satisfy specific needs of businesses. DFAs, as a legal term, was introduced with the law “On Digital Financial Assets” which went into force in Ja...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to be part of the experimentation to step up the usage of the currency at an international level. Chinese Region of Guanxi to Push Digital Yuan Usage for Trading With ASEAN Nations The Chinese government is stepping up the pilot program of the digital yuan, its central bank digital currency, in a push to integrate it into trade settlements with countries of the Association of Southeast Asian Nations (ASEAN) bloc. According to reports from the local branch of the People’s Bank of China (PBOC), the Chinese autonomous region of Guanxi will implement various functions of the digital yuan at a nationwide level, and will also pioneer some u...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  About 40% of 153 African banks surveyed by the latest African Banker annual report said they regard “fintechs and telcos as high threats,” while 69% see artificial intelligence as the “most important technology shaping the industry in the near future.” According to the survey findings, only 28% of survey respondents confirmed that their respective institutions are spending more than $3 million “on digital transformation and innovation” annually. Fintechs Have Helped to Revolutionize Africa’s Banking Industry According to the latest African Banker annual report, of the 153 banks that were surveyed about 40% said they “regard fintechs and telcos as high threats.” The survey study also found that some 69% of the surveyed banks view artificial intelligence (AI) as the “most important technology shaping the industry in the near future.” A year earlier, about 74% of the banks had i...

Before taking the stage at the Bitcoin 2023 conference in Miami, U.S. presidential hopeful Robert F. Kennedy Jr. emphasized the democratic nature of bitcoin, calling it an “exercise in democracy.” Additionally, during his Florida appearance, Kennedy revealed that his campaign would accept bitcoin for political contributions. RFK Jr. Champions Bitcoin as a Democratic Tool, Now Accepts Leading Crypto for Campaign Contributions Robert F. Kennedy Jr., a Democrat challenging incumbent U.S. president Joe Biden, declared that his campaign would welcome bitcoin (BTC) donations. At the conference, Kennedy underscored the widely recognized connection between bitcoin and the pillars of democracy and liberty. If elected president, he pledged to “ensure the United States remains the global hub of bitcoin.” Many attendees at the Bitcoin 2023 conference expressed approval of Kennedy’s remarks. One individual tweeted , “Truly surreal to listen to a Kennedy speak to how his presidency would secur...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  Binance Australia said on May 18 that it is “unable to facilitate PayID AUD deposits for Binance users” due to a third-party payment service provider’s decision to discontinue support for the crypto exchange. Binance Australia said while it works to find an alternative, users can still “buy and sell crypto using credit or debit cards.” Scott Collary, an executive at the service provider, claimed that “scammers are increasingly using overseas exchanges.” Binance Australia Seeks an Alternative Third-Party Payment Service Provider Crypto exchange Binance Australia announced on May 18 that it had “temporarily” suspended Australian dollar services after its payment service provider Westpac abruptly discontinued support for the platform. As a consequence, the crypto exchange said it is now “unable to facilitate PayID AUD deposits for Binance users.” The exchange warned users that t...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  On May 18, 2023, at block height 790,272, Bitcoin’s difficulty reached an all-time high after rising 3.22% on Thursday. The network’s difficulty is now at an impressive 49.55 trillion, or 0.90% away from 50 trillion hashes, making it the most difficult it has ever been to discover a block reward. Bitcoin’s Difficulty Rises to Uncharted Territory, Straining Miners This year, Bitcoin once again broke a record as the network’s difficulty jumped by 3.22% , rising to an unprecedented height of 49.55 trillion . The network’s difficulty is a measure of how hard it is to find a hash value that meets the required criteria for a new block to be added to the Bitcoin blockchain. Notably, the recent rise in difficulty followed a 1.45% drop at block height 788,256, where the chain’s difficulty remained at 48.01 trillion for approximately two weeks. ​​Bitcoin miners are currently dedicati...