Author: Atis. Sh

In a striking move that underscores his ongoing commitment to cryptocurrency adoption, Miami Mayor Francis X. Suarez announced that he is converting his entire salary to Bitcoin. This statement comes amid significant market volatility that has seen the cryptocurrency drop in price. He stated this during the World Economic Forum in Davos, Switzerland. Suarez, a major advocate for Miami as a hub for crypto and tech innovation, remained unwavering in his belief in the value and utility of Bitcoin. He clarified that this decision wasn’t as precarious for him personally since his mayoral salary isn’t his sole income source. “It’s…

In recent news, Bryan Lee, a 57-year-old Las Vegas resident, has been charged for orchestrating a massive Metaverse scam. This scam amounts to more than $45 million. Yesterday, Federal prosecutors unveiled that Lee and his co-conspirators allegedly duped nearly 10,000 investors by fabricating a Metaverse project with its unique cryptocurrency token. The fraudulent scheme was based on CoinDeal and was falsely presented as a family of businesses working on developing virtual reality products. Investors were drawn to the scheme with promises of extravagant returns once the crypto token was sold for billions of dollars in the future. The indictment implies…

The world of cryptocurrencies has grown significantly over the past few years. Today, cryptocurrencies have become increasingly prevalent in the global financial ecosystem. This rapid growth has led to countries around the world having issues with the challenge of regulating this industry. While challenging, most countries had no choice but to try and regulate the crypto market, and each ended up with varying levels of success. One thing is certain, however, crypto regulations are coming. Cryptocurrencies are a heavily unregulated space, especially the decentralized finance (DeFi) sector. This makes the crypto industry unchartered territory for authorities and regulatory bodies all…

Global technology leaders NVIDIA and ServiceNow have recently announced a promising partnership. This partnership is aimed at revolutionizing business procedures by developing advanced generative artificial intelligence (AI) capabilities. These developments will allegedly be tailored for enterprises. ServiceNow is set to harness the power of NVIDIA’s AI technology to automate various workloads within its IT help desk. This move includes automating service tickets and other day-to-day operations. The cutting-edge AI being developed will be customized for individual enterprises. Moreover, it will be tapping into specific company information to deliver efficient and intelligent solutions. https://twitter.com/nvidia/status/1658955046661357568?s=20 News of the collaboration has sparked significant…

The latest token standard on the Bitcoin network, BRC-20, has been attracting much attention lately. However, the CEO of Mintlayer, a blockchain infrastructure company, Enrico Rubboli, has expressed concerns regarding these new crypto tokens. He stated that BRC-20 tokens could tarnish Bitcoin’s reputation. BRC-20, crafted by a developer who calls himself Domo, is an experimental token standard that leverages the Bitcoin blockchain. This allows for the creation and transfer of new tokens on the blockchain. However, though, experts are arguing that Bitcoin’s blockchain is not designed to foster such entities. Despite similarities to Ethereum’s ERC-20 standard, BRC-20 introduces a different…

Leading cryptocurrency exchange, Coinbase, has announced the upcoming launch of a new subscription service named “Coinbase One.” As part of an ever-improved global strategy, the service is poised to make its debut in 35 countries. Initially, however, only customers in the United Kingdom, Germany, and Ireland will enjoy the privileges of the new service at first. Unveiled on May 18, Coinbase One proposes to offer a package of features. Subscribers will reap benefits such as zero-fee trading and augmented staking rewards. Additionally, Coinbase One will be a subscription service and will cost $29.99 per month. The company plans to further…

Just some hours ago, FTX, a failed yet major crypto exchange, initiated legal proceedings against Sam Bankman-Fried, its former chief executive officer. This lawsuit also includes Zixiao Wang, co-founder of FTX, and Nishad Singh, an executive of FTX. The lawsuit stems from their alleged missteps in the $220 million acquisition of Embed, a stock-clearing platform. FTX legal representatives argue that the defendants acted without proper due diligence in the acquisition process, leading to what we now know as one of the biggest collapses in crypto history. The acquisition of Embed became controversial when the stock-clearing platform was put up for…

Samson Mow, CEO of JAN3, expressed his skepticism about the future of Bitcoin Ordinals and BRC-20 tokens. In a recent interview, he predicted their swift disappearance in the coming months. He attributes this demise to unsustainable transaction fees paid to Bitcoin miners and the congestion of the Bitcoin network resulting from these activities. “Bitcoin Ordinals and BRC-20 tokens are creating a bubble that will soon burst,” Mow warned, revealing his outlook on these crypto tokens. “The high transaction fees that go directly to Bitcoin miners cannot be maintained, and this model will collapse sooner than many believe – we’re talking…

The US Congressional Budget Office (CBO) has recently published a report suggesting a significant risk of the US government failing to meet all its financial obligations. The report states that this could happen as early as June. This potential risk is a consequence of the country reaching its statutory debt limit of $31.4 trillion in January. Experts state that if this goes unaddressed, it could plunge the country into a debt crisis. The CBO’s report, released on May 12, paints a worrying picture of the US government’s fiscal health. If the statutory debt limit remains unchanged, the country could face…

In a surprising move, Binance, one of the world’s leading cryptocurrency exchanges, announced its withdrawal from Canada on May 12. This decision comes on the heels of Canada’s tightened regulations on cryptocurrency trading platforms. These include the introduction of mandatory registrations and investor limits. https://twitter.com/binance/status/1657099651210969088?s=20 The OSC has been implementing these new guidelines over the past months as a response to the rapidly evolving crypto industry. The Ontario Securities Commission has clarified that potential enforcement action will be taken. The regulatory institution pointed out that they will focus on companies failing to adhere to these updated regulations. Binance expressed its…