Bitcoin price loses steam, but futures markets forecast upside above $70K

A new analysis suggests the token supplies for most DeFi projects are not widely distributed, with up to 99% held by the top 500 addresses. Token supplies for most decentralized finance (DeFi) projects are not widely distributed according to an analysis by the co-founder of DeFi Italy and Head of CryptoLab’s Digital Assets Investments Simone…

BIS Innovation Hub head asserted the decline of cash use amid the pandemic has renewed the pertinence of bank-issued digital currencies. 345 Total views 4 Total shares Benoît Cœuré, the head of the Bank for International Settlements Innovation Hub, recently asserted that central bank digital currencies, or CBDCs, have been brought “into sharper focus” amid…

Bitcoin’s (BTC) price continued its downtrend Wednesday ahead of the testimony from United States Federal Reserve Chairman Jerome Powell.The spot BTC/USD exchange rate fell to its 17-day low of $31,600 following a 3.46% intraday dip. Meanwhile, CME futures tied to the pair plunged 3.41% to $31,515, extending their week-to-date losses to 9.5%.Bulls step in at…

Axie Infinity (AXS) has had a rough week: On July 1, it was trading at just above $5. One week later and following two consecutive two-day rallies, the price was charging past $19. AXS price has since dropped between $18 and $19, yet the coin’s weekly stats are still outstanding: 118% against United States dollar and…

The U.S. government agency is reportedly using Coinbase Tracer to access customers' historical geo-tracking data and transactions on over a dozen cryptocurrencies. 316 Total views 13 Total shares A new report has indicated that crypto exchange Coinbase has provided Immigrations and Customs Enforcement (ICE) agents with a “suite of features” intended for tracking the company’s…

The Australian government has announced a sudden eight-week consultation that will seek to understand whether any “high-risk” artificial intelligence tools should be banned.Other regions, including the United States, the European Union and China, have also launched measures to understand and potentially mitigate risks associated with rapid AI development in recent months.On June 1, Industry and…

BlackRock CEO believes the current crisis added with growing inflation would lead to the formation of a global digital payment network. 584 Total views 22 Total shares Larry Fink, the CEO of the world’s largest asset manager BlackRock, believes the ongoing Russia - Ukraine crisis has boosted the case for digital currencies as a tool…

According to the MAS managing director, TerraForm Labs, Luna Foundation Guard and Vauld were “not licensed or regulated" by Singapore's financial watchdog. Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, said companies often labeled by the media in connection to the recent market volatility as “Singapore-based” were not representative of…

The sovereign national digital currency will be based on the national fiat and would have a fixed supply quite similar to Bitcoin. 493 Total views 7 Total shares The president of the Central Bank of Brazil confirmed that the country’s sovereign digital currency pilot will go live this year, Cointelegraph Brazil reported.The confirmation about the…