President Joe Biden has reignited the debate surrounding implementing a 30% tax on electricity used by crypto miners in a budget proposal for 2025. The proposal, outlined in a document titled “General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals” by the U.S. Department of the Treasury, aims to address the current gap in regulations regarding...
Tether, the issuer of the world’s largest stablecoin, USDT, announced on March 11 the launch of its stablecoin on the Celo chain. In a statement, the stablecoin issuer said the expansion marks a major milestone for the firm and Celo. Tether Launches On Celo As of March 12, USDT is the largest stablecoin with a market...
Israel’s Central Bank unveiled plans on March 11 to launch an interest-bearing Central Bank Digital Currency (CBDC), dubbed the “digital shekel”. In a recent document, the Bank of Israel (BoI) outlined its proposal for the ‘digital shekel,’ highlighting key features such as wallet provision and bank payment services. Requirements for the ‘Digital Israeli Shekel’ The...
FOX Business analyst Eleanor Terrett opined on March 11 that the cryptocurrency industry is gaining influence as the 2024 U.S. elections draw near. She noted the increasing influence of crypto advocacy groups like Coinbase’s “Stand With Crypto Alliance” which boasts over 310,000 members, as an example. In an interview with Tony Edward of Thinking Crypto,...
Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill criticized the United States Securities and Exchange Commission’s (SEC) controversial SAB 121 while saying that the FDIC’s regulatory approach has “significant downsides” in remarks given on March 11. Hill Takes FDIC’s Regulatory Approach Speaking at the Mercatus Center at George Mason University, Hill particularly took issue...
U.S. cryptocurrency exchange Coinbase experienced technical issues on Tuesday for a few hours as Bitcoin surged to an all-time high of $69,000. On Wednesday Asia time Bitcoin was trading down 7% at $63,000. In response to these issues, Coinbase continued to update and reassure its users throughout the recent outage: “We are aware that some...
Bitcoin price is climbing over 4% to hit $66,300 during the Asian session on Wednesday. This surge reflects growing investor confidence and forecasts a bullish trend in the cryptocurrency market. As Bitcoin navigates through varying degrees of volatility, its price prediction becomes a focal point for traders eyeing the digital asset’s future potential. Amidst this...
BlackRock’s Bitcoin ETF, IBIT, has shattered another record for daily inflows, absorbing $788.3 million from investors Tuesday alone. All that money goes straight into buying more Bitcoin (BTC), which the company holds with Coinbase and uses to directly back its shares. Less than two months after launch, BlackRock has now absorbed over $9.1 billion in...
No Bitcoin ETF will gain approval in South Korea unless the government introduces new crypto rules, the head of the Financial Supervisory Service (FSS) said on March 5. The FSS chief Lee Bok-hyun this week struck an optimistic note about possible Bitcoin spot exchange-traded fund approval. But per the media outlet Nocut News, Lee also...
Bitcoin price’s slight dip to $66,105 sparks curiosity about future trends. This Bitcoin price prediction examines the potential for a bullish recovery, highlighting MicroStrategy’s increased investment and legislative movements towards Bitcoin ETFs in retirement plans. As the landscape evolves with significant inflows into Bitcoin ETFs, notably from BlackRock, the question arises: will these developments sustain...