The legislators were objecting to two Fed letters: SR 23-7 on the Novel Activities Supervision Program and SR 23-8 titled “Supervisory Nonobjection Process for State Member Banks Seeking to Engage in Certain Activities Involving Dollar Tokens.” They wrote: Continue Reading on Coin Telegraph More
Previously, a major institution’s endorsement of Bitcoin (BTC), like that of PayPal in late 2020, played a pivotal role in initiating a bullish surge in Bitcoin prices, at the time propelling its value to nearly $70,000.According to Charles Gasparino, a correspondent at Fox Business News, Elon Musk is engaged in ongoing discussions with prominent Wall Street executives concerning the future of X. Sources suggest that Musk is leaning towards introducing an evolved payment system resembling an updated version of PayPal, aimed at providing minimal transaction fees compared to credit cards while also capitalizing on user data monetization.This has led experts to speculate the price of Bitcoin and other altcoins that Elon Musk has previously favored, like Dogecoin (DOGE), which, after the Twitter rebranding in July, sent the price of the altcoin up 4% in a matter of minutes, prompting assumptions that the upcoming update may cause markets to surge.However, the decision does come after a warning from an account that claims to be a Dogecoin graphic designer, who alerted the crypto community to potential scam tokens falsely claiming association with X.The designer noted that neither Elon Musk nor X has ever launched a crypto token, with Musk responding, “And we never will.”At the same time, a report by a crypto data firm, Nansen, indicates that the fervor surrounding PayPal’s recently introduced stablecoin hasn’t translated into substantial adoption, with analysts from crypto data firm Nansen indicating that only a small number of individuals are utilizing and retaining PYUSD within self-custody wallets. The on-chain insights platform goes on to share that some 90% of PYUSD is held in wallets controlled by Paxos, the issuer of the stablecoin.Despite previous community speculation that news of a PayPal Update from X could “change the market,” that very “market” is currently riddled with increasing regulatory uncertainties. Many projects have continued to shut down, while prices of Bitcoin have continued on a downward trajectory. This trend remains evident even with the entry of payment giant PayPal (PYPL) into the stablecoin domain, failing to generate noteworthy market shifts. Both Bitcoin and Ethereum (ETH) have exhibited limited price movement throughout the day and have sustained low trading volumes in recent weeks. Bitcoin to USD Chart | Source: CoinMarketCapThis article was originally published on Crypto.news More
Blockchain analysis platform Lookonchain, which follows and posts smart profitable trades, flagged the transaction. According to the firm, the 1inch-affiliated wallet bought a total of 6,088 ETH at the price of $1,655, which means that the company spent over $10 million on the purchase. Continue Reading on Coin Telegraph More
According to Russian media, local users can no longer receive fiat money in exchange for their crypto on Tinkoff Bank or Sberbank accounts on the P2P platforms of OKX and Bybit. No official announcements by the representatives of either company were made in official channels. Continue Reading on Coin Telegraph More
The G20 comprises 19 countries and the European Union, representing the world’s major developed and emerging economies, and it leads international economic cooperation that plays a critical role in strengthening global architecture and governance on all major international economic issues.Continue Reading on Coin Telegraph More
In 2022, while OnlyFans content creators enjoyed significant growth and success, the platform’s Ethereum holdings faced challenges due to the prevailing bearish trend in crypto.Fenix International Limited, OnlyFans’ parent company, recently released its financial report to the UK government for the financial year that ended on Nov. 30, 2022.OnlyFans crypto holdings | Source: filing to UK governmentOnlyFans creators saw both increased popularity and financial benefits. However, Ethereum’s journey contrasted sharply with this success.At the start of the report in May 2022, the company’s Ethereum assets were worth over $19 million, but by November, their value had fallen to about $11.4 million.Per the company’s statement, OnlyFans diversified some of its operational capital into Ethereum during the year. The report noted that the company could freely liquidate its Bitcoin holdings, valuing the asset at its year-end market price.Last year, OnlyFans, known for adult content, made waves in the crypto space by allowing creators to feature verified Ethereum NFTs as profile images. This move signaled a creator’s Ethereum asset ownership.CEO Amrapali Gan shared, “This step is just the beginning of our exploration into NFTs’ potential role on our platform.”2022 saw significant upheavals in the cryptocurrency market, with events like the Terra UST stablecoin’s decline and crypto exchange FTX’s downfall.Yet, OnlyFans had a stellar year, with revenues rising from $4.8 billion in 2021 to $5.6 billion in 2022. Their user base grew by 27%, and the number of artists on the platform increased by 47%. This growth showcased OnlyFans’ ability to thrive despite challenging conditions.This article was originally published on Crypto.news More
According to the announcement, Laos experienced drought in the first half of 2023. The extreme heat resulted in higher demand for electricity and caused hydropower plants to struggle to generate enough power. Continue Reading on Coin Telegraph More
BTC price strength remains dubious after a snap crash 10 days ago, with bulls unable to wrestle back control of the market to provide a relief bounce.Continue Reading on Coin Telegraph More
