David Bailey, CEO of Bitcoin Magazine, has disclosed his nexus with the campaign of former President Donald Trump. Bailey and his team have advised Trump to develop a Bitcoin and crypto-friendly agenda, including signing a crypto-focused executive order on day one. He declared that crypto enthusiasts will not vote for Trump but against Biden’s crypto […]
https://news.bitcoin.com/bitcoin-magazine-ceo-discloses-links-with-trump-campaign-its-time-for-bitcoin-to-elect-the-next-president/

In a recent motion to dismiss a case brought by the Securities and Exchange Commission (SEC), cryptocurrency exchange Kraken argued that the SEC’s legal theory misinterprets crucial aspects of the case. The court document, dated May 9, 2024, claims the SEC fails to identify legitimate investment contracts involved in the transactions on Kraken’s platform. Kraken […]
https://news.bitcoin.com/kraken-challenges-sec-overreach-in-recent-court-filing/

Bitcoin faces a pivotal period that echoes the past block size wars, according to Bitcoin Core contributor Matt Corallo. In a recent blog post, Corallo examines the ongoing struggles within the Bitcoin community that could determine the future of the pioneering cryptocurrency. From Freedom to Fragmentation In his latest blog post, Matt Corallo outlines the […]
https://news.bitcoin.com/bitcoins-existential-challenge-core-developer-warns-of-a-new-era-of-internal-struggles/

The Nigerian currency, which has been depreciating against the U.S. dollar in the past few weeks, has completely erased its gains from early April, making it the worst-performing currency in the world. The decline of the naira is attributed to Nigeria’s ongoing foreign exchange shortages. One economist expects the pressure on the currency to peak […]
https://news.bitcoin.com/nigerian-currency-becomes-worst-performing-after-erasing-all-early-april-gains/

Barry Sternlicht, CEO of Starwood Capital Group, has voiced concerns about the vulnerability of regional and community banks in the U.S. to high interest rates and inflation, particularly amid the commercial real estate downturn. He forecasted frequent failures of these banks, predicting: “You’re gonna see your regional bank fail … every week, maybe two a […]
https://news.bitcoin.com/billionaire-barry-sternlicht-foresees-banks-failing-every-week-in-us/

Turkey is preparing to present a new law to regulate crypto assets to Parliament. The legislation, aimed at aligning with international standards and reducing risks associated with crypto transactions, will enforce strict regulations on the licensing and operation of cryptocurrency trading platforms by the Capital Markets Board. It will also ensure the safe custody of […]
https://news.bitcoin.com/turkey-prepares-new-crypto-law-to-align-with-international-standards/

Rich Dad Poor Dad author Robert Kiyosaki has issued a cautionary statement regarding the possible downfall of the U.S. dollar in the event of the BRICS economic bloc launching a gold-backed cryptocurrency. Kiyosaki predicts a scenario where trillions of U.S. dollars flood back into the country, leading to hyperinflation and the eventual collapse of the […]
https://news.bitcoin.com/robert-kiyosaki-warns-of-us-dollar-collapse-if-brics-crypto-happens/

A senior Bloomberg ETF analyst predicts that spot ethereum exchange-traded funds (ETFs) in the U.S. are unlikely to emerge this year. Despite the Securities and Exchange Commission (SEC) approving spot bitcoin ETFs, the same is not expected for Ethereum due to different regulatory considerations. The forthcoming U.S. election could further impact this scenario, potentially altering […]
https://news.bitcoin.com/ethereum-etfs-face-uphill-battle-with-sec-analyst-foresees-possible-delay-until-2025/

The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved PHPC, a stablecoin pegged to the Philippine peso, aimed at facilitating cost-effective remittances. Crypto exchange Coins.ph, the stablecoin issuer, plans to attract 20,000 to 30,000 users in the first month. The PHPC will be the first peso-backed stablecoin available for retail use, […]
https://news.bitcoin.com/philippine-central-bank-approves-peso-pegged-stablecoin-for-faster-remittances/

The North Korean hacker organization Kimsuky has employed a new malware named “Durian” in targeted cyber attacks against at least two South Korean cryptocurrency companies, according to a report by cybersecurity firm Kaspersky. This malware variant, characterized by its multifunctional backdoor capabilities, was distributed through exploiting legitimate security software specific to South Korean crypto firms, […]
https://news.bitcoin.com/north-korean-hacker-group-targets-south-korean-crypto-firms-with-new-durian-malware/

Franklin Templeton, a global investment behemoth, has praised the development and growth of Base, the Coinbase-incubated Ethereum L2. On social media, the company declared that Base had “hit a home run” due to its popularity with meme coins and socialfi applications, including the pioneering app in the space, Friend.tech. Franklin Templeton Praises Base’s Performance, Comments […]
https://news.bitcoin.com/investment-firm-franklin-templeton-base-to-lead-ethereum-l2-sector-powered-by-socialfi/

The classification of ethereum as a security poses not only risks to the entire crypto market, but it could also likely lead to many crypto teams exiting the space. This designation might hinder progress and potentially reverse years of advancements in the cryptocurrency market. The U.S. Securities and Exchange Commission has likely delayed its decision […]
https://news.bitcoin.com/crypto-teams-may-exit-space-due-to-ethereum-security-classification-amina-bank-report-suggests/

Billionaire investor and “Shark Tank” star, Mark Cuban, has taken to social media to voice his concerns about the U.S. Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. In a series of posts, Cuban criticizes the SEC for stifling innovation and causing harm to businesses in the crypto industry. He contrasts the U.S. regulatory […]
https://news.bitcoin.com/mark-cuban-blasts-secs-crypto-regulation-advocates-for-japans-approach/

In a significant move towards transparency, El Salvador’s National Bitcoin Office (ONBTC) has announced the launch of its own mempool space. This development allows anyone to view the country’s bitcoin treasury holdings. The initiative is supported by Mempool, which revealed it has provided a custom instance of The Mempool Open Source Project for the ONBTC. […]
https://news.bitcoin.com/el-salvador-enhances-bitcoin-treasury-transparency-with-launch-of-dedicated-mempool-space/

Jameson Lopp, the co-founder of Casa, a Bitcoin services company, referred to increasing attacks targeting cryptocurrency whales. On social media, Lopp stated that “while still relatively rare,” the number of targeted attacks against crypto whales was “vastly underreported.” Lopp explained that many victims of these thefts and hacks hesitated to consult law enforcement out of […]
https://news.bitcoin.com/casa-co-founder-jameson-lopp-attacks-on-cryptocurrency-whales-are-vastly-underreported/

Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite China’s advancement towards becoming a cashless society, the digital yuan faces skepticism […]
https://news.bitcoin.com/despite-250-billion-worth-of-transactions-digital-yuan-users-prefer-physical-cash/

Infinite Block, a Korean virtual asset service provider, has announced its participation as a validator in the XRP Ledger (XRPL) blockchain. This move is expected to bolster the XRPL ecosystem within Korea’s unique regulatory environment. Infinite Block aims to provide XRPL and XRP services to corporations while adhering to domestic and international regulatory compliance. The […]
https://news.bitcoin.com/koreas-infinite-block-joins-as-xrp-ledger-validator-bolstering-global-ecosystem/

Onchain bitcoin analyst Willy Woo predicts that the leading cryptocurrency will reach the $1 million milestone within the next decade. During what he describes as “a time to be alive,” Woo anticipates witnessing a purge of central bank corruption. However, one of Woo’s followers envisions a Central Bank Digital Currency (CBDC), not bitcoin, replacing the […]
https://news.bitcoin.com/analyst-forecasts-btc-to-reach-1-million-in-10-years-envisions-it-as-future-reserve-currency/

As of May 13, 2024, bitcoin exhibits mixed signals across various time frames and technical indicators, presenting a complex landscape for traders. The leading crypto asset’s price currently stands at $62,792, reflecting a slight increase within the 24-hour range from $60,776 to $63,156. Despite a recent 2% uplift, bitcoin remains down by 3.6% over the […]
https://news.bitcoin.com/bitcoin-technical-analysis-bulls-set-sights-on-a-glimmer-of-recovery/

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Argentine authorities crack down on illegal crypto investment scam, Bancolombia launches cryptocurrency exchange Wenia, and Genesis Digital Assets announces flare gas-powered bitcoin mining site in Argentina. Argentine Authorities Crack Down on $1.25 Million […]
https://news.bitcoin.com/latam-insights-illegal-crypto-crackdown-in-argentina-bancolombia-launches-crypto-exchange/