Author: Crypto News

Last updated: May 10, 2024 06:24 EDT | 3 min read The Dogecoin price has gained by 3.5% in the past 24 hours, rising to $0.1515 as the crypto market as a whole climbs by 2.5% today.DOGE is now up by 14% in a week, although the market’s biggest meme coin has actually lost 20% in a month.However, its move today follows indications that whales have been accumulating the meme coin recently, with one transfer alone seeing a big trader take $19 million in DOGE off Robinhood.This could result in further gains in the coming days, with the market set…

Last updated: May 10, 2024 05:04 EDT | 1 min read Rich Dad Poor Dad author and renowned investor Robert Kiyosaki believes that the US dollar is losing value and expressed his support over crypto investments.During a recent episode of the podcast “The Rich Dad Channel,” Kiyosaki discussed the importance of portfolio diversification including cryptocurrencies. Speaking to Andy Shechtman, CEO of Miles Franklin Precious Metals, Kiyosaki advocated investors to turn to gold, Bitcoin and Ethereum.He stressed that the dollar decline is imminent, which is why accumulating alternative investments is vital to be prepared for adverse financial conditions. “Our money is…

Last updated: May 10, 2024 04:59 EDT | 1 min read Canaan has launched a new mining machine at the Bitcoin Asia 2024 conference.According to a recent report by the South China Morning Post, the new A1566 model marked the latest of Canaan’s flagship Avalon A15 series, engineered to help miners cope with the reduced rewards from Bitcoin’s latest halving event. Reduced Mining Efficiency Post Halving Previously, the Miner Mag reported that public mining companies, including Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf, experienced a decrease in Bitcoin production of 6% to 12% in April, following the recent halving…

Last updated: May 10, 2024 04:52 EDT | 2 min read Komodo CTO Kadan Stadlemann said the United Arab Emirates’ (UAE) political stability fosters a friendlier environment for crypto businesses to flourish, compared to the challenges they face in the US.In a jab at democracies, he said the UAE’s biggest advantage is its monarchy. The exec believes the UAE’s stable leadership, free from the back-and-forth policy changes of democracies, creates a more friendly environment for crypto businesses to grow.In an interview with CryptoNews, he credited the country’s “very stable political basis” as key to its startup friendliness. He also pointed…

Last updated: May 10, 2024 04:52 EDT | 3 min read Bitcoin Price PredictionBitcoin (BTC) dipped slightly by 0.20%, settling at $63,000, yet maintains a bullish stance in the latest bitcoin price prediction. The rise in jobless claims to 231,000, the highest since August 2023, suggests a cooling U.S. labour market, prompting anticipatory actions by the Federal Reserve.This could lead to rate reductions earlier than projected, influencing Bitcoin’s appeal as a non-traditional investment. U.S. Jobs Data Sparks Rate Cut Speculation—What’s Next for BTCThe Labor Department reported a notable increase in initial jobless claims for the week ending May 4, reaching…

Shiba Inu, the meme coin that made a splash in the cryptocurrency scene in 2021, has been through ups and downs since hitting its peak. Investors are eagerly anticipating its surge, questioning whether Shiba Inu can make a comeback to its glory. Shiba Shootout’s Presale Success Recently, Shiba Shootout, a meme coin project, has been gaining attention for its presale and innovative approach within the meme coin community. Could the success of the Shiba Shootout signal a resurgence for Shiba Inu in 2024?The strong performance of the Shiba Shootouts presale has captured the interest of investors, as it has already…

Last updated: May 10, 2024 02:13 EDT | 1 min read Arch Labs has secured a $7 million investment to develop a Bitcoin-native application platform.The seed funding round was led by Multicoin Capital with other participants and contributors including Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings, Tangent, Cypher, and Newman Capital. Arch is proud to be building and innovating in the Bitcoin ecosystem, alongside some of the industry’s top funds and strategic partners. Announcing the closing of our seed round led by @multicoincap, hear what they have to say about us: “Arch Network’s emergence is a direct… pic.twitter.com/jT6Qy6a45y…

Last updated: May 10, 2024 02:06 EDT | 1 min read Tech leader Jack Dorsey is betting big on Bitcoin, forecasting a price explosion to over $1 million by 2030.As Pirates Wires’ Mike Solana asked for his take on Bitcoin’s future value, Dorsey said: “I don’t know. Over… at least a million. I do think it hits that number and goes beyond.”Still, the crypto asset’s price itself takes a backseat for Dorsey, who reiterated his core fascination with Bitcoin lies in other aspects.“The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or…

Last updated: May 10, 2024 01:21 EDT | 1 min read In a latest response, Tether, the world’s largest stablecoin, has vehemently criticized Deutsche Bank’s statement, which questioned the sustainability of stablecoins and Tether’s solvency.A Deutsche Bank research, published Tuesday, studied 334 currency pegs since the year 1800 and concluded that only 14% survived. Applying the research to stablecoins, the bank’s analysts noted that the asset class is prone to “turbulence and de-pegging events.” “While some may survive, most will likely fail, particularly due to the lack of transparency in stablecoin operations and vulnerability to speculative sentiment.” The research analyzed…

Last updated: May 10, 2024 00:46 EDT | 1 min read Embattled crypto lender BlockFi announced Thursday that it plans to close its web platform this month, and is partnering with Coinbase to distribute funds to clients.The New Jersey-based firm said its Coinbase partnership will allow eligible BlockFi Interest Account, Retail Loan, and Private Clients to withdraw their crypto holdings.BlockFi filed for bankruptcy in Nov. 2022 after FTX’s collapse. CEO Zac Prince, who testified as a government witness in Bankman-Fried’s criminal trial, claims the FTX founder’s actions directly caused BlockFi’s bankruptcy. Missed BlockFi’s Withdrawal Deadline? You Can Still Recover Your…