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A weak macroeconomic environment and systemic risk from within the crypto space have caused nearly twelve successive weeks of losses for the asset. Bitcoin plunged to below $25,000 amid a weak macroeconomic environment. (Mike Powell/Getty Images) Bitcoin (BTC) plummeted under $25,000 on Monday morning amid weakness in the macroeconomic environment and systemic risk from within the crypto market, data shows....
Drop Party uses merchandise drops to connect brands and consumers Digital payments firm Flexa plans to buy marketing technology company Drop Party to engage with customers through various online campaigns. Terms of the deal weren’t disclosed. Drop Party is an online agency that uses merch drops to connect brands and consumers. Under Flexa, Drop Party will continue its mission and...
The bank founded by Morgan Stanley veteran Caitlin Long filed suit against the U.S. central bank for delaying a decision on its application for a master account. Crypto bank Custodiafiled suitagainst the U.S. Federal Reserve on Tuesday, saying the central bank was unlawfully delaying a decision on its application for a master account. In the filing to the United States...
The bearish BTC price targets keep mounting amid concerns over the “distribution” of coins by long-term holders. The bearish BTC price targets keep mounting amid concerns over the “distribution” of coins by long-term holders. Bitcoin (BTC) stayed wedged in a tight range on June 4 as traders’ demands for a new macro low persisted. BTC/USD 1-hour candle chart (Bitstamp). Source:...
The state Assembly had already passed the bill, which would bar new mining operations powered by carbon-based energy sources for two years. Clark Vaccaro, acting president and chief strategy officer at BaSIC, a local trade organization, holding up a sign after a rally against the proposed bill last month. (Nikhilesh De/CoinDesk) The New York State Senatepasseda bill targetingproof-of-work(PoW) mining early...
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Polygon is now requiring extensive customer details for prospective partners in India as regulatory scrutiny there grows, according to a source. Layer 2 side chain Polygon is requiring extensive KYC (Know Your Customer) details to provide funding, investments, grants or financial support to potential partners in India, said a person familiar with the matter. Polygon, whose system runs alongside the...
Three Republican senators are pushing to prohibit portals from allowing apps that facilitate payments of China’s digital yuan out of concern that it could be used for espionage against American citizens. The proposed “Defending Americans from Authoritarian Digital Currencies Act” would outlaw the use of China’s e-CNY for app stores and other uses in the United States. US Says No...
The Federal Reserve’s Lael Brainard says it will take years to build a U.S. CBDC and that the project can only start once Congress and the White House sign off. Vice Chair of the Federal Reserve Lael Brainard predicts a digital dollar could take the central bank many years to build. (Drew Angerer/Getty Images) Federal Reserve Vice Chair Lael Brainard...
A quick recap of some of the noted analyst's key prognostications shows just how mixed his track record has proven. Scott Minerd, the chief investment officer of Guggenheim Investments, hasn't been shy over the past couple years about making predictions about the price of bitcoin (BTC). His calls, typically made during interviews with financial media outlets including CNBC and Bloomberg,...