bitcoin
The U.S. Senate voted 60-38 on Thursday to overturn the controversial Securities and Exchange Commission (SEC) crypto policy known as Staff Accounting Bulletin No. 121 (SAB 121). This move aligns with a similar effort by the House of Representatives to erase the policy. Despite this legislative push, President Joe Biden has pledged to veto the resolution, maintaining the policy’s enforcement. Bipartisan support and veto challengeThe vote saw a dozen Democrats joining a majority of Republicans in favor of overturning SAB 121, comfortably surpassing the simple majority needed for passage. Howeve...
Invezz
In just two years, Pyth Network has achieved remarkable milestones: expanding to over 55 blockchains, securing $300 billion in total volume, and integrating with more than 350 applications. To understand the factors behind this growth and its impact on the blockchain ecosystem, Invezz spoke Michael Cahill – CEO, Douro Labs (Core Contributor to Pyth). On rapid growthInvezz: Pyth has reported some fascinating growth numbers. What made this growth possible? I think a big driver in this explosive growth is Pyth’s architecture as a pull oracle. Legacy oracles, and most oracle today, are push oracle...
Invezz
Bitcoin (BTC) has experienced its most significant single-day gain in nearly two months, following the release of the US Consumer Price Index (CPI) data on Wednesday. This surge pushed BTC past $66,252, fueled by expectations of a potential easing of monetary policy by the Federal Reserve and a positive outlook for risk assets, including cryptocurrencies. End of BTC downtrend?The latest CPI data reveals a 3.4% increase over the 12 months ending in April, slightly lower than March’s 3.5% rise. This indicates a slowdown in price growth, aligning with expectations for a gradual easing of inflatio...
Invezz
Reports suggest that the Chicago Mercantile Exchange (CME) Group, already a heavyweight in Bitcoin futures trading, is considering entering the spot bitcoin trading arena. The move could have far-reaching implications for institutional investors and the broader crypto ecosystem where Binance and Coinbase dominate in spot Bitcoin trading. According to reliable sources, the Chicago-based group is currently holding discussions with institutional crypto traders who prefer regulated marketplaces as it aims to capitalise on the demand among Wall Street fund managers to get exposure to the crypto sec...
Invezz
The State of Wisconsin’s Investment Board (SWIB) created in 1951 has invested over $160 million in BlackRock’s spot Bitcoin ETF IBIT and Grayscale’s GBTC. The investment marks a move by the US state to adopt the asset alongside other investment vehicles for public pensions and trust funds. A key piece of crypto legislation will soon be put to vote in the Congress, The Financial Innovation and Technology for the 21st Century Act (FIT21). US State of Wisconsin bullish on Bitcoin?The US State of Wisconsin is likely bullish on Bitcoin as the investment board declares an investment of $99 million i...
Invezz
NiceHash, the leading hashrate marketplace, is set to inaugurate the first-ever Bitcoin-focused conference in Maribor, Slovenia. Dubbed NiceHashX, this event is styled as the “Bitcoin Conference on the Sunny Side of the Alps” and will be held over two days on November 8 and 9, 2024. This conference marks a significant milestone, celebrating a decade since the platform’s inception by two Slovenian students in 2014. Local adoption and industry growthA key objective of NiceHashX is to showcase Maribor, and Slovenia more broadly, as vibrant centers for Bitcoin and blockchain technology. Slovenia a...
Invezz
In a dramatic turn of events, Bitfarms has terminated Morphy as CEO and president of the mining firm following the filing of a lawsuit against the company. Morphy’s filed a lawsuit against Bitfarms seeking a staggering $27 million in damages, prompting Bitfarms to terminate his role despite prior announcement of plans to have him remain in the company. In the meantime, Nicolas Bonta, the co-founder and chair, has stepped in as interim president and CEO. Morphy sued Bitfarms for damagesThe legal battle commenced on May 10 when Morphy filed the lawsuit in the Superior Court of Ontario, Canada, c...
Invezz
El Salvador has made headlines once again in the cryptocurrency world with the launch of a Bitcoin treasury monitoring website. Since adopting Bitcoin (BTC) as a legal tender in 2021, El Salvador continues to pioneer initiatives aimed at embracing and leveraging the potential of digital assets for economic growth and financial inclusion. The Central American nation’s new proof-of-reserves website offers a suite of tools designed to provide real-time transparency regarding its Bitcoin holdings. With over 5,700 BTC currently in its treasury, valued at approximately $360 million, El Salvador is t...
Invezz
The Runes protocol, hailed as a groundbreaking innovation enabling the creation of fungible assets on the Bitcoin blockchain, has experienced a notable decline in activity despite its initial surge in transaction volume and fees. Recent on-chain data reveals a dwindling trend in Runes-related transactions, reflecting a waning interest in the protocol within the blockchain community. Runes Protocol activity declines after the debut surgeSince its debut on April 20, the Runes protocol garnered substantial attention, triggering a frenzy among investors and miners alike. During its initial week, R...
Invezz
In a major development in the cryptocurrency world, a crypto whale has reportedly purchased a massive 357.34 billion PEPE tokens, valued at approximately $2.9 million, from the Binance exchange. This transaction was highlighted by the major analytics account on X, @lookonchain, which noted the subsequent withdrawal of these tokens to a private wallet, signaling the birth of a new PEPE whale. PEPE sees price fluctuation amidst heavy tradingFollowing the purchase, PEPE experienced a price surge of nearly 7%, reaching $0.00000821, before undergoing a slight correction to $0.00000804, a drop of 4....
Invezz
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