Author: Crypto News

Last updated: May 3, 2024 14:00 EDT | 3 min read Bitcoin Price Bursts Back Above $60,000 as US NFP Data Misses Expectations – Here’s Where BTC Is Headed Next / Source: Cryptonews The Bitcoin (BTC) price has powered back into the mid-$61,000s in wake of a softer-than-expected US labor market report which has boosted hopes that the Fed cuts interest rates more than once before the end of 2024. ❖ US Labor Apr Nonfarm Payrolls +175K; Consensus +240K ❖ US Apr Unemployment Rate 3.9%; Consensus 3.8% ❖ US Apr Average Hourly Earnings +0.20%, or +$0.07 to $34.75; Over Year…

Last updated: May 3, 2024 13:54 EDT | 1 min read Navigate the complexities of the UK’s AI Market Competition, where copyright and fair play are under scrutiny. On May 2nd, Baroness Stowell of Beeston, a member of the UK’s House of Lords, urged the British government to take a stronger stance on addressing copyright issues and ensuring fair competition within the UK’s AI market competition.Policymakers Draw UK Government’s Attention To Generative AIBaroness Stowell of Beeston wrote a letter to the UK Secretary of State expressing her disappointment in the government’s insufficient efforts to modernize copyright laws in light of advancements…

Last updated: May 3, 2024 13:10 EDT | 2 min read The Nigerian SEC’s upcoming meeting with crypto industry leaders holds major implications for the future of cryptocurrencies in the country. A Friday report from CoinTelegraph reveals that the Nigerian Securities and Exchange Commission (SEC) will meet with crypto exchanges to discuss the state of crypto regulation in the African nation. The country has detained two Binance executives charged with money laundering and tax evasion.Nigerian SEC To Meet With Crypto Exchanges On Crypto RegulationAccording to CoinTelegraph’s interview with Lucky Uwakwe, Chair of Nigeria’s Blockchain Industry Coordinating Committee (BICCoN), the upcoming…

Last updated: May 3, 2024 10:52 EDT | 2 min read The CEO of CF Benchmarks, a subsidiary of cryptocurrency exchange Kraken, predicts that crypto exchange-traded funds (ETFs) in Hong Kong will overcome their lackluster start and accumulate over $1 billion in assets under management (AUM) by the end of 2024.CF Benchmarks, based in London, offers reference data for crypto ETFs, primarily focusing on bitcoin products such as BlackRock’s IBIT. The company currently oversees approximately $24 billion in AUM in this market, representing about half of the crypto benchmarking market.Despite the relatively low trading volume during their recent debut, CF Benchmarks is now collaborating with…

Last updated: May 3, 2024 10:37 EDT | 5 min read Source: Midjourney Meme coins are set for a renaissance in the coming months. While their novelty premise has detractors dismissing them as flash-in-the-pan phenomena, several meme coin projects have proven their worth over the years and become the closest thing the notoriously volatile crypto industry has to “safe money”.The number one contender right now is stalwart daddy Dogecoin. $DOGE is a cryptocurrency that claims to be both the first meme coin and the first canine coin.Launched in 2013, Dogecoin creators Billy Markus and Jackson Palmer initially created it to…

DropsTab, a pioneering cryptocurrency information platform, has received a strategic investment from DWF Labs, the new generation Web3 investor and market maker. Announced today, this strategic investment establishes DWF Labs as the lead investor.London, May 2024 In a strategic move that sets the stage for unprecedented growth in the crypto data sector, DropsTab has secured a landmark investment from DWF Labs, a global leader in digital asset market making and Web3 investments. This partnership heralds a new era for DropsTab, poised to significantly advance the development of its operations, facilitate Web3 integration on its platform, and enhance its flagship product,…

Last updated: May 3, 2024 13:18 EDT | 1 min read Bitcoin investors are facing a tough challenge as they try to recover from a two-month price low for BTC.The recent Bitcoin price rebound has been limited, however, due to strong resistance.Despite a 6.2% recovery from this week’s low, BTC has not been able to surpass crucial trendlines.Moving Average Threatens BTC Price “Ordeal”Through April and May, Bitcoin experienced a 23% drop from its recent all-time high, reducing the odds of recovery.BitMEX Co-Founder Arthur Hayes predicted that in August Bitcoin will be trading below $70,000.First, $60,000 must be surpassed convincingly, but…

Last updated: May 3, 2024 09:01 EDT | 2 min read Telecommunications company Vodafone is taking steps to leverage SIM card technology in order to meet the expected surge in demand for crypto transactions on mobile phones. In an interview with Yahoo Finance Future Focus, David Palmer, Vodafone’s blockchain lead, revealed that the company is pushing to advance the use of blockchain technology on mobile devices for managing crypto transactions.“Within each mobile phone is a SIM card and we have focused on linking the mobile phone SIM card to digital wallets, identity and blockchains, using the cryptography we have in those SIM cards for that…

Last updated: May 3, 2024 08:21 EDT | 1 min read An Australian Federal Court on Friday, ruled in favor of the Australian Securities and Investments Commission (ASIC) regarding an unlicensed crypto platform that misled customers.The court noted that a Gold Cost crypto promoter – BPS Financial – allegedly broke the law by promoting unlicensed crypto wallet. The firm misled customers while offering the ‘Qoin Wallet’, a non-cash payment facility which used a crypto-asset token called ‘Qoin.’ASIC Chair Joe Longo cautioned the highly volatile and risky behavior of crypto assets, emphasizing the importance of authorized licenses.“It is critically important that…

Last updated: May 3, 2024 08:02 EDT | 2 min read Restaking protocol EigenLayer is handing out an extra 100 EIGEN to 280,000 qualifying wallet addresses after criticism over its first airdrop.On April 29th, EigenLayer announced it would allocate 15% of its total supply to the community, but some users deemed several provisions of its airdrop program as restrictive.On May 2nd, The Eigen Foundation announced that users who interacted with the protocol before April 29th would receive an additional airdrop, including the original airdrop claimants. Updates on the EIGEN Stakedrop pic.twitter.com/1cwSForJnx — Eigen Foundation (@eigenfoundation) May 2, 2024In a follow-up…