Bitcoin (BTC) sought to recover $27,000 into the May 14 weekly close as volatility picked up out of hours. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price gains over 7% in two days Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $27,200 on Bitstamp. Its highest in several days, the performance
Month: May 2023
In episode 19 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks to Ivo Georgiev, CEO of Ethereum smart contract wallet Ambire. Georgiev explained account abstraction and how wallets can bring more people to the network. Georgiev believes self-custody is an “extremely difficult” problem that can be solved with account abstraction. He explained that
The foundation of the Web3 ecosystem is the wallet, an app or browser extension that lets users verify their web identities and authorize transactions. But using a wallet has always involved a steep learning curve. New users must learn to copy down their seed words and store them in a safe place, create a strong
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The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment. A silver lining is Bitcoin’s solid bounce on May 12. Several analysts
Bitcoin (BTC) has rallied nearly 60% to around $27,000 in 2023 amid anticipations that the Federal Reserve would pause its quantitative tightening amid the U.S. banking crisis. Still, BTC price has failed to move beyond $30,000 decisively. Buying exhaustion at this key psychological level led to a price correction toward $25,000 over the past week. Interestingly, the
The United States government faces a “significant risk” of no longer being able to meet all of its financial obligations as early as June, as per a recent report. According to a May 12 report published by the U.S. Congressional Budget Office (CBO), the risk of the U.S. government defaulting on its debt in the
Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto
Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner, Rhodian Enterprises, according to its Q1 2023 report. Published on May 10, Riot’s Q1 2023 financial report stated that Whinstone, a wholly owned subsidiary of Riot, filed a petition on
Ethereum core developers rolled out patches for Prysm Labs and Teku clients as a response to two Beacon Chain finality issues within a 24-hour period. The Beacon Chain serves as the consensus layer for the Ethereum network. On May 11, Ethereum developers reported that the Beacon Chain was experiencing problems confirming transactions. Although new blocks
Memecoins’ security and dependability as a medium of exchange remain a topic of debate in the cryptosphere. Memecoins are said to be safe and decentralized, but some are concerned about their volatility and lack of oversight. Memecoin proponents claim that because they are decentralized, users have more control over their money and are protected from
Binance will withdraw from the Canadian market, the cryptocurrency exchange announced on Twitter on May 12. It called its withdrawal “proactive” as new guidance issued by Canadian regulators continues to take a toll on the country’s crypto industry. Binance is joining some of its smaller competitors in the Canadian exodus brought on by the introduction
The Congressional Budget Office (CBO) has stressed that “there is a significant risk that the Treasury will run out of funds at some point in the first two weeks of June” if the debt ceiling is not raised or suspended. The CBO’s projection is in line with the estimate by the Treasury Department that a
The latest hype around Bitcoin (BTC) Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow. “These guys are basically paying massive amounts of fees that go directly to Bitcoin miners, and there is no way this can be sustained,” Mow said in an
Top Stories This Week Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange An email sent out to Coinbase customers describing the Pepe the Frog meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community this week. Two hours after the email was sent,
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Crypto wallet MetaMask has started rolling out Ether (ETH) purchases via PayPal for users in the United States — one of Metamask’s biggest markets. The company claims to be the first Web3 wallet to offer ETH transactions via PayPal. Through the collaboration, American users can now choose PayPal as their payment method when buying ETH
Bitcoin (BTC) sought to pass $27,000 on May 13 after a “scam wick” produced new two-month lows. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Traders: BTC price must retain $26,500 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it recovered from a flash dip to $25,800 on Bitstamp. The pair saw weakness after
Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency. Congressional records showed Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced “a bill to require reports on the adoption of
Bitcoin bounced back from a near two-month low on Saturday, as bulls moved in to buy the recent dip in price. Saturday’s move came as the cryptocurrency rebounded from a recent support point, after yesterday’s breakout. Ethereum was also higher, climbing above $1,800. Bitcoin Bitcoin (BTC) moved away from a recent two-month low on Saturday,
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