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Bitcoin ’s price fell from $27,100 to nearly $26,600 on the heels of this news. The leading cryptocurrency is trading 3% lower in the last 24 hrs. advertisement US government to hit its borrowing limit on Monday 5 June After getting the vote of approval from the House of Representatives, the bill must now pass the US Senate later this week before President Joe Biden can sign it into law. The US government will hit the deadline to raise the Debt Ceiling on coming Monday and will default on its debt. However, the major hurdle has been passed as both the political parties have agreed on the bill. 71 Republicans and 46 Democrats voted no for the Debt Ceiling bill that is headed to the US Senate. The current debt ceiling bill does not provide any solution to the government’s debt; it only suspends the debt ceiling until 2025 when the US government will have to go through the process all again. Bitcoin trades below $27,000 amid rate hike fears...

The world’s top crypto exchange, Binance, will allegedly halt the trading of privacy coins in France next month. Several users received e-mails from the exchange “formally” notifying them about the development. The translated version of the announcement read, “ Due to local regulatory requirements, Binance is no longer able to offer Enhanced Anonymity (“EAC”) crypto-assets (commonly referred to as “privacy coins” in English) in France . “ Binance disables trading of privacy coins for French residents, citing local regulatory requirements — unfolded. (@cryptounfolded) May 31, 2023 Chalking out the restriction date and tokens involved, Binance’s e-mail notified users, “ From June 26, 2023, users residing in France will no longer be able to buy or sell the following EACs on our platform: DCR, DASH, ZEC, ZEN, PIVX, NAV, SCRT, XVG, FIRO, BEAM, XMR, MOB .” Also Read: Binance Partners Ingenico for Payment Solutions in France The Restriction Schedule According to the announc...

Mooney Leads Efforts To Prevent CBDC While anti- CBDC sentiment is not new, Mooney’s bill specifically addresses the possibility of a pilot program, aiming to close the “loophole” that could allow the Federal Reserve to implement a test run without congressional permission. According to recent reports, the proposed legislation would effectively halt the development of a CBDC at its very origin. advertisement Read More: Binance Explores Partnership With Banks To Offset Crypto Risk In April, the Federal Reserve stated that it had not yet decided on issuing a CBDC and emphasized the importance of clear support from Congress. Moreover, the Office of Science and Technology Policy also sought input on CBDC -related research and development initiatives earlier this year. Concerns Grow Over Govt. Surveillance CBDC s critics have voiced concerns over increased government surveillance and threats to privacy if the Federal Reserve were to i...

Renowned trader and CEO & Founder of MN Trading, Michael Van De Pope, recently shared insights that have caught the attention of the cryptocurrency community. In a recent tweet, Van De Pope suggests that cryptocurrencies’ total market capitalization could reach an impressive $1.6-1.9 trillion range. The total market capitalization for $1 holds above the 200-Week MA and EMA. Additionally, great S/R flip of the $1 trillion level shouts that we'll continue movements. In that case, likely that the entire market capitalization of #Crypto rallies to $1.6-1.9T. pic.twitter.com/lrfwhCHNS3 — Michaël van de Poppe (@CryptoMichNL) May 29, 2023 Van De Pope’s prediction is based on two key indicators that reveal the possibility of significant market growth. Firstly, he points out that the total market capitalization for $1 has consistently remained above the 200-week moving average (MA) and exponential moving average (EMA). This suggests a positive trend and a...

In a recent interview, Crypto Banter founder Ran Neuner sat with crypto analyst Sheldon the Sniper to discuss the spike in Bitcoin’s price. The duo highlighted the recent announcement made by Hong Kong’s Securities and Futures Commission, which unveiled plans to permit retail investors to trade select crypto assets from June 1. Sunday stream! Live in 15min! Myself & @cryptomanran going to talk about what could cause the next $BTC pump in the next 72 hours Plus we will be going through AI tokens we believe are still in good buy zones Full market update ! https://t.co/XXDm8nm1wD pic.twitter.com/w1Pl4Fwnvw — Sheldon The Sniper (@Sheldon_Sniper) May 28, 2023 According to Neuner, this regulatory development is believed to be one of several driving forces behind the recent pump in Bitcoin’s value. Following the announcement, cryptocurrency prices experienced an upward trend, with Bitcoin surging by 1.7% and surpassing the crucial price resistance of $...

The attacker took advantage of the lack of slippage control of liquidity conversions to steal the funds. Adding to the existing number of protocol hacks in the crypto industry, Jimbos Protocol has not escaped the sights of the attackers as it has suffered an attack resulting in a loss of a large amount of funds. According to PeckShield, a blockchain security unit, Jimbos Protocol, the liquidity protocol of the Arbitrum system, was hacked on the morning of May 28. The attack resulted in the loss of 4,000 ETH, equivalent to approximately $7.5 million. Specifically, the attacker took advantage of the lack of slippage control of liquidity conversions. The protocol's liquidity is invested in a price range that doesn't need to be equal, creating a loophole where attackers can reverse swap orders for their own gain. Despite being launched less than 20 days ago, the Jimbos Protocol aimed to address liquidity and volatile token prices through a new testing approach. However, it appear...

Join Our Telegram channel to stay up to date on breaking news coverage The cryptocurrency market has continued on its green path again today. Indicators from CoinMarketCap reveal that the market is currently doing a 0.77% increase. This is outstandingly different from the 21.45% upward march in our last next cryptocurrency to explode post yesterday . Undoubtedly, crypto currency is opening up new frontiers to wealth for another generation. The tenacity with which investments are pouring back in to stem the tide of the bear market is impressive. But all accolades should now be given to cryptocurrency alone in its initial form. Other innovations developed around the cryptic space all played their part. Gaming and metaverse, for example, kept users engaged through the bear market. Their usage does not depend on market forces. People simply used them for the benefits they derived, such as fun, socialization, and exercise. The reward system they developed in the respective virtual ...

Bitcoin (BTC) price currently shares a similarity with Gold on value metrics, which explains why economists consider it a safe haven asset even in countries like Germany which has just entered a recession. The safe haven narrative started when the king crypto decoupled from the United States stock market indices earlier in the year. Nevertheless, BTC has been unable to share likeness with Gold in the area of ‘trust’. It’s here. The 17th annual edition of In Gold We Trust, the leading in depth Analysis of gold as a monetary asset, commodity, and store of wealth. Looks at de-dollarization, Bitcoin, and much more. The go-to report.https://t.co/iMxF4tzClD pic.twitter.com/rLDHoJM1Dr — Jim Rickards (@JamesGRickards) May 25, 2023 Amid the lack of definite regulations in the United States and globally, crypto remains in its latent stages. As such, it could take a while longer to catch on even in economically constrained countries like Germany. Germany Enters Recess...

During a glitch-plagued Twitter Space yesterday evening, US presidential candidate and Bitcoin fan Ron De Santis came out against central bank digital currencies (CBDCs), calling their introduction “a massive transfer of power from individual consumers to a central authority.” De Santis used the Space, hosted by Elon Musk and David Sacks, to announce his presidential nomination for the Republican Party. De Santis will now battle former president Donald Trump for the Republican nomination. De Santis says that CBDCs are about state control De Santis has claimed that the government could use CBDCs to track users’ activity and judge them accordingly. To illustrate his point, he used the example of environmental and social governance standards (ESG). These standards are used by socially-conscious investors to screen potential investments and, according to De Santis, the government may use them as a pretext to track spending and investments . ESG standards are designed in part to h...

The ColdStack team is thrilled to announce its partnership with Router Protocol . ColdStack will provide Router Protocol with its decentralized storage solution. They will also provide them with their IT Support and potential introduction to exchanges and other partners. Router’s team will introduce ColdStack to other crypto projects to give them an opportunity to find more interesting partners which will help them raise and keep developing their product! in addition to all of these the Router Protocol team will also list ColdStack token CLS on the flagship cross-chain bridging dApp @TheVoyagerio . About Router Router Protocol is a pioneering cross-chain solution that enables secure and efficient communication between blockchain networks. The L1 Router Chain uses Tendermint’s BFT consensus to address interoperability challenges while enhancing security and scalability through decentralization. The Chain enables cross-chain meta transactions, stateful bridging, transaction batching, an...

Metaverse and GameFi will be crucial in the next bull cycle, says crypto and NFT investor Crypto Tony. In a recent tweet, Tony told his followers his focus is on APE, MANA, PYR, SAND, AXS, ILV, ALICE, and RLB. #Metaverse and #GameFi is going to be such a huge part of the next bull cycle in my opinion. I am paying attention to these assets in particular $APE$MANA $PYR$SAND$AXS$ILV$ALICE$RLB What others are you look into legends ___ pic.twitter.com/okf5qcEJcM — Crypto Tony (@CryptoTony__) May 24, 2023 Tony is an intraday cryptocurrency trader and analyst famous for his regular posts and trade alerts. He is renowned for sharing chart screenshots of his Analysis , telling his followers about his plans, and offering them precise trading targets. In the recent tweet where he revealed the altcoins he is watching out for, Tony asked his followers to mention other tokens they think will partake in the anticipated rally of the next bull cycle. Some tokens they listed incl...

Bored Apes look a lot like baseball cards. But regulators — particularly at the Securities and Exchange Commission — are making a strained case to the contrary. Should a Bored Ape be considered a security akin to stock in Apple or Microsoft? TL;DR? No! Winston Churchill, anticipating Securities and Exchange Commission Chair Gary Gensler, once called out “this world of sin and woe.” Let us now add to the litany of woe the possibility that Bored Apes, CryptoPunks and many other nonfungible tokens (NFTs) might be considered securities . There are even some pro-crypto people out there who would welcome treating NFTs as securities. They are, as we here argue, flat wrong as to most (but not all) NFTs for reasons both operational and legal. As two of our colleagues wrote in The National Interest almost a year ago, “Typical non-fungible tokens (NFTs) are no more securities than baseball cards. Some high-profile investors, such as Canadian entrepreneur Kevin O’Leary, are on record as seeing b...