A Bitcoin (BTC) hub in Greater Manchester opened on Sept. 16, where everything–absolutely everything is Bitcoin themed or oriented. Cointelegraph took a trip to the bar and workshop space, called Satoshi’s Place to interview the founder and raise a glass to the latest Bitcoin speakeasy. Named after the anonymous creator of the world’s largest and
Month: September 2022
The Ethereum blockchain’s carbon footprint is expected to reduce by 99% following last week’s Merge event. By positioning staking as a service for retail and institutional investors, the upgrade could also have a significant impact on the crypto economy, according to a report from Bitwise on Tuesday. The company said it projects potential gains of
While testifying before United States (U.S.) lawmakers, JPMorgan Chase CEO Jamie Dimon referred to himself as a “major skeptic” on “crypto tokens that you call currency like Bitcoin,” labeling them as “decentralized Ponzi schemes.” Dimon was asked what keeps him from being more active in the crypto space during an oversight hearing held by the
The cryptocurrency industry has grown at a staggering pace. There are now almost 21,000 different coins in existence, across a variety of subsectors. From metaverses to decentralized finance, investors are spoiled for choice. But a burning question, especially among crypto skeptics, is this: Are there too many cryptocurrencies? We’ve repeatedly seen how new altcoins can
Most crypto investors probably never heard of Wintermute Trading before the Sept. 20 $160 million hack, but that does not reduce their significance within the cryptocurrency ecosystem. The London-based algorithmic trading and crypto lending firm also provides liquidity to some of the largest exchanges and blockchain projects. As a crypto-native trading firm, meaning digital assets
Bitcoin (BTC) retreated and reversed its intraday gains after the Federal Reserve announced its third consecutive 75 basis point (bps) interest rate rise on Sept. 21. Traders sold the news BTC’s price dropped circa 6.5% from its intraday high of $19,950, hitting $18,660 minutes after the Federal Open Market Committee’s statement. Its decline mirrored a
The Federal Reserve hiked rates by 75 basis points on Sept. 21 and Fed Chair Jerome Powell projected another 125 basis points increase before the end of the year. If that happens, it will take the benchmark rate to 4.4% by the end of the year, which is sharply higher than the June estimates of
Crypto exchange Binance received a Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), enabling the crypto exchange to offer a range of virtual asset services to qualified retail and institutional investors, the company disclosed on Tuesday. The development follows the issuance of the provisional license granted in March, which permitted the
The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week that showed U.S. inflation jumped last month by 8.3% per annum. Fed Raises Federal Funds Rate by 75bps anticipates ‘Ongoing Increases’ On September 21,
Moonpay and Universal Studios have launched a real-life NFT-based treasure hunt. The crypto payment platform will release up to 7 million NFTs claimable at Universal Studios Florida and Hollywood as part of the Halloween Horror Nights event. Park guests only need to scan QR codes at participating attractions to claim these NFTs. No crypto wallet
ETH miners have dumped 17,000 ETH in the last seven days, which could be attributed to ETH’s decline. Ethereum is currently trading at $1,330, down 2.16% in the last 24 hours. Several crypto analysts have weighed in on potential causes of Ethereum’s Downward trend, and the mass dumping by ETH miners topped the list. Miners
The judge for the United States District Court for the Southern District of New York, Katherine Polk Failla, ordered Tether to prove 1-to-1 backing of its eponymous stablecoin, Tether (USDT). The company is required to provide “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements” and other documents to the court.
After a successful Ethereum Merge, all eyes are set on the next phase of transition that would introduce key scalability solutions on the platform, including sharding. Market experts believe sharding would be a game changer for the Ethereum network as it could potentially solve the scalability trilemma. In an exclusive conversation with Cointelegraph, Uphold’s head of research,
A self-described 23-year-old “Crypto King” is facing a raft of demands among 140 of his investors as they try to claw back a collective total of $35 million from his company AP Private Equity Limited. According to a Tuesday CBC report, creditors are hard at work trying to unravel where all the money they allegedly
A former head of risk at Credit Suisse believes the next crypto bull market will stem from “regulatory clarity” in the United States, which he expects to happen in early 2023. Speaking to Cointelegraph, the former head of valuation risk at Credit Suisse, CK Cheng, said some of the regulatory efforts underway in the United
Bitcoin (BTC) recovered above the $19,000 mark on Sept. 20, a day after falling to its lowest level in three months. Bitcoin struggles after dropping below $20K On the daily chart, the BTC price rose from $18,255 to $19,650. This 7.5% price rebound mirrored similar rebound moves witnessed in the stock market, suggesting that investors
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