Bitcoin News and Finance: What You Need to Know

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Emerging markets investors are being attracted by local currency-denominated bond instruments while leaving dollar-denominated debt, according to data provided by EPFR Global, a fund flow and allocation data insights company. These markets have outperformed dollar-denominated debt due to the behavior of currencies like the Brazilian real and the Mexican peso, which have appreciated against their U.S. counterpart. Emerging Market Debt Investors Flee to Local Currency Bonds Investors in emerging market debt have taken interest in local currency-denominated instruments, while abandoning dollar-based bonds, according to data provided by EPFR Global, a fund flow and allocation data provider. Numbers indicate that monetary flows have moved from bonds denominated in hard currency to local currency bonds, given that these have outperformed their dollar-denominated counterparts. EPFR Global found that during the first four months of the year, investors withdrew $2.65 billion from emerging m...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  JPMorgan Chase, the largest bank in the United States, held its investor day event on Monday, where CEO Jamie Dimon answered questions from analysts and journalists. Despite market expectations of a rate hike pause, Dimon cautioned that people “should be prepared for rates going higher from here.” The billionaire banker also discussed the potential for commercial real estate to sour following concerns raised by Berkshire Hathaway’s Charlie Munger about the sector. JPMorgan’s Jamie Dimon Discusses Souring Commercial Real Estate Sector This week Jamie Dimon, the CEO and chairman of JPMorgan Chase, along with some of his colleagues, discussed the state of the U.S. economy during the bank’s investor day event. According to JPMorgan, the economy is “doing fine,” but a “mild recession” is still expected. In line with Charlie Munger’s warning to the Financial Times, Dimon expresse...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy My Applets Explore Developers Upgrade Create Bitcoin News-GA4 Activity Error Applet failed May 23 - 4:18 PM RSS Feed Bitcoin News-GA4 Action failure message: This Applet has reached its daily rate limit and was skipped. RSS Feed icon RSS Feed New feed item Trigger ran, 4:18 PM Blogger icon Blogger Create a post Action failed, 4:18 PM Error Applet failed May 23 - 2:17 PM RSS Feed Bitcoin News-GA4 Action failure message: This Applet has reached its daily rate limit and was skipped. RSS Feed icon RSS Feed New feed item Trigger ran, 2:17 PM Blogger icon Blogger Create a post Action failed, 2:17 PM Error Applet failed May 23 - 1:16 PM RSS Feed Bitcoin News-GA4 Action failure message: This Applet has reached its daily rate limit and was skipped. RSS Feed icon RSS Feed New feed item Trigger ran, 1:16 PM Blogger icon Blogger Create a post Action failed, 1:16 PM Check Applet ran May 23...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  The European Union (EU) has no intention of allowing Russian banks to be reconnected to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) banking system anytime soon. Peter Stano, spokesperson for external affairs of the EU, stated that these restrictions can only be lifted or softened when the Russia-Ukraine conflict ends. EU Has No Intention of Lifting SWIFT Sanctions on Russian Banks The European Union (EU) has denied the possibility of allowing Russian banks to be interconnected to the financial system using the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system, which allows the realization of cross-border payments using local bank accounts. In a recent interview with Inveztia magazine, EU spokesperson for external affairs Peter Stano remarked these sanctions could not be lifted or softened until the Russia-Ukraine conflic...

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy  Bitcoin rebounded on Tuesday, as a result of weakness in the U.S. dollar, following failed talks to tackle the debt ceiling crisis. President Biden stated, “We reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement.” Bitcoin Bitcoin ( BTC ) rose above $27,000 on Tuesday, as a result of weakness in the greenback, following failed talks to increase the U.S. debt ceiling. After dropping to a low of $26,714.18 to start the week, BTC /USD surged to a peak of $27,434.68 earlier today. Tuesday’s gains saw bitcoin marginally break out of a resistance level at the $27,300 mark. This coincided with the relative strength index (RSI) climbing above a ceiling of its own, at 44.00. At the time of writing, the index is now tracking at 47.10, with an upcoming zone of 50.00 a likely target for bulls. Should they...

PRESS RELEASE. Undeads Metaverse, AAA survival Web3 game, proudly announces the completion of its first mint amidst the prevailing crypto winter market. This achievement underscores the resilience of high-quality projects backed by experienced teams, demonstrating their ability to thrive even in adverse market conditions. Despite encountering external hurdles within the broader market, the exceptional calibre of the Undeads project, its team, and the unwavering support of the community became evident. “The Undeads team has exhibited remarkable success during a challenging market environment. The completion of this mint marks just the beginning of our journey. As production continues on the Undeads Metaverse, we are poised to accelerate our efforts,” stated Leo Kahn, CEO of Undeads Metaverse. At the time of publication, Undeads Zombies NFT collection increased in value to reach a floor price of 0.20ETH, a 150% increase from the original mint price of 0.08ETH. Undeads Metaverse ext...

In the midst of the financial dispute between crypto exchange Gemini and Digital Currency Group (DCG), Gemini has alleged that DCG failed to make a payment of around $630 million that was due last week. In response, Gemini has stated that it may extend “forbearance” to DCG in order to prevent a default. DCG’s Alleged Missed Payment Adds Fuel to Gemini-DCG Dispute On May 19, 2023, Gemini announced an update for the company’s Earn customers, which explains the “process of finding a resolution for all Earn users to redeem their assets.” When the collapse of FTX spread to Genesis Global Capital’s lending arm, it affected Gemini’s Earn program, and Gemini paused the program . Following that issue, Gemini co-founder Cameron Winklevoss shared an open letter on Twitter in hopes of getting Digital Currency Group (DCG) CEO Barry Silbert’s attention . In the aftermath of the dispute, it has come to light that Genesis’ parent company, DCG, has allegedly failed to make a payment to its credit...

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...