The International Monetary Fund (IMF) has advised Zimbabwe to consider the potential risks to its economy before issuing a gold-backed digital currency. Zimbabwe’s central bank recently began circulating gold-backed digital coins in an effort to curb local demand for US dollars, which has caused the Zimbabwean currency to lose value. Liberalisation of foreign exchange market
Bitcoin’s weekly options expiry worth $900 million on May 12th may play a crucial role in determining whether the digital currency will drop below $27,000. There is a possibility that the BTC bears will take advantage of macroeconomic headwinds and uncertainty caused by Bitcoin’s transaction fee spike to pull the price down in the coming
Donald Trump, the former President and potential 2024 Republican presidential candidate, has advised Republican lawmakers to let the United States default on its debt obligations if Democrats do not agree to spending cuts. During a televised CNN Town Hall on Wednesday, Trump advised Republican congressmen and senators to demand massive spending cuts, saying that they
Tether, a stablecoin issuer, has announced that it made a profit of $1.48 billion in the first quarter of 2021. The company attributed this profit to increasing interest rates, which helped it earn higher returns on its reserves. In a press release, Tether stated that it has both gold and Bitcoin in its reserves, with
PEPE (PEPE) has been holding its position as the third-largest meme token in terms of market capitalization, but has been losing value since May 5. The digital currency hit $0.00000431 per unit on May 5, and since then, its value has plummeted by 60% in USD terms. Bitcoin.com News noted on May 8 that the
The impact of AI technology in digital industries is continuously growing. In February, the choppy AI narrative exploded onto crypto markets. However, the focus seems to be shifting towards emerging AI presales. Render (RNDR), a decentralized platform, is a market-leading project that aims to connect unused GPU capacity with the demands of emerging Web3 and
A new bill proposed by New York lawmaker Latrice Walker suggests using fiat-collateralized stablecoins as a valid method for bail bond payments. The bill aims to add fiat-backed stablecoins to the existing payment options such as cash, insurance bonds, and credit cards. Stablecoin Inclusion The proposed New York Assembly Bill 7024 does not mention any
The cryptocurrency market has witnessed a trend where many new projects are focusing on environmental or social causes. Chimpzee is one such project that seeks to address critical issues like wildlife conservation and climate change while simultaneously offering users a chance to earn passive income. Chimpzee provides a range of powerful features, including Shop-to-Earn, Trade-to-Earn,
The US Securities and Exchange Commission (SEC) Chair, Gary Gensler, has been accused of avoiding requests for information about cryptocurrency-related matters. The House Financial Services Committee, which oversees the SEC, has held several crypto hearings this year. In one of these hearings, Committee Chair Patrick T. McHenry asked Gensler whether ether was a security or
The U.S. House Committee on Financial Services has given Securities and Exchange Commission (SEC) Chair Gary Gensler an ultimatum to respond to its inquiries. On May 9th, the lawmakers requested that the SEC provide the committee with internal non-public documents related to its activities, including charges against bankrupt FTX founder Sam Bankman-Fried, crypto regulations, and