News

History has been made in the realm of Bitcoin and cryptocurrency payments. For example, Bitwage – a cryptocurrency payroll and asset services company – recently processed the world’s first lightning network payroll. In what seems like a growing fusion between Crypto and Sports, the payroll belonged to USL professional soccer player Alex Crognale. Powering The Bitcoin Salary BitWage revealed the milestone in a statement to Bitcoin Magazine earlier today. Both Crognale and Bernard Parah – CEO of Bitcoin native Fintech…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,287 trillion. Bitcoin is down by almost 9% and trading below $50,000. Ethereum is up by almost 3% after a good week. XRP dropped by almost 12% to trade further below $1. Almost all altcoins have traded in the red for most of the week. The DeFi sector lost nearly $3 billion in Total…

On Sunday, Bitcoin dropped more than 16% on its worse trading day since May. The largest crypto traded at a low at $43,000 before settling at above $47,000. Usually, other major cryptos follow Bitcoin's price movements. Unsurprisingly, most major cryptos posted losses in the double digits as well. For example, Ethereum, the second-largest crypto by market cap, dropped 15% to $3,900. Just yesterday, the most significant intelligent contract token traded at $4,600. Binance Coin traded at $545, dropping almost 13%…

Bitcoiners have maintained that inflation is here to stay for months, and politicians wake up to that reality. Janet Yellen – Treasury Secretary of the United States – recently admitted that rising prices in the US are no “transitory” phenomenon. Her words echo those of Federal Reserve Chairman Jerome Powell, who said days ago that we should “retire” the term. Inflation Isn’t Ending Soon, Says Yellen Yellen offered her inflation forecast during a Reuters-sponsored event on Thursday. According to the…

The SEC has not crushed VanEck’s hopes of expanding indirect exposure to the crypto industry. Following a failed attempt at a spot Bitcoin ETF, the fund manager has filed for a fund linking to digital asset mining companies. The ETF will be 80% invested in securities from crypto mining businesses. Exposure To The Mining Industry According to VanEck’s application with the SEC yesterday, the mining companies included must generate at least 50% of their revenues from mining activity. Furthermore, the…

Musk managed to draw the ire of the broader crypto community again while delighting Doge holders. Elon Musk, CEO of Tesla and SpaceX, posted a series of tweets shading Ethereum and Web 3 while touting Doge. Unfortunately, his tweets managed to pump up Doge again for a while. On Thursday, Musk wrote that Web 3, a concept that's widely supported in the crypto community, "sounds like bs." The stance is extraordinary, seeing that his brother, Kimbal Musk, launched an autonomous…

The current and former chairmen of the Securities and Exchange Commission show little partisan disagreement. Earlier today, Democrat chairman Gary Gensler and his Republican predecessor Jay Clayton called on exchanges to register with the commission. Both justify their actions by the motivation to protect investor concerns, as Gensler commonly puts it. Register Or Else, Say SEC Chiefs The SEC chiefs aired their thoughts during a Fireside chat at the Digital Asset Compliance & Market Integrity Summit on Wednesday. The event…

After stepping down as Twitter’s CEO, rumors flourished about Jack Dorsey doubling down on building the Bitcoin network. Greater evidence of those suspicions has just emerged.  Dorsey’s digital payments company “Square” just announced a Facebook-esque rebranding to “Block”. The Bitcoin community has interpreted this as a public commitment to Bitcoin's “blockchain”. Square Goes Three-Dimensional The financial services company revealed its new name in a Twitter thread earlier today. Apparently, the company is preparing to give “the full square brand” to…

An ape NFT from "Bored Ape Yacht Club Tron," a Tron network "homage" to the original Bored Apes, sold for $15 million dollars. The person who bought it was none other than Tron network founder Justin Sun. Sun, a Chinese-American tech entrepreneur is also the CEO of BitTorrent, a popular torrenting app and a Chinese messaging app Peiwo. He claimed that his Joker-themed NFT, number 6666 in the Bored Ape Yacht Club Tron (BYAC Tron), is the most expensive Twitter…