Author: NBTC
US President Donald Trump told reporters Tuesday night that he had “no intention” of firing Federal Reserve Chair Jerome Powell, and the markets didn’t wait long to react. That one comment from the White House kicked off an after-hours rally across stocks and crypto, reversing earlier tension that had been building after Trump spent the last week trashing Powell and calling for his removal. The president’s sudden but typical 180, after days of calling Powell a “major loser,” came hours after he’d demanded interest rates be cut and posted that Powell’s “termination cannot come fast enough.” Futures for the Dow…
Pi Coin (PI) is currently trading at $0.65, up slightly by more than 1% at the time of writing. While the broader crypto market is showing signs of strength, Pi Coin has remained relatively flat, trading within a narrow range of $0.60 to $0.68 in recent weeks. Despite the limited price movement, there’s excitement in the Pi Network community with the launch of a new game app, Fruity $PI, now live on the Pi Network Mainnet Ecosystem. The app adds to the growing number of decentralized applications being built on the Pi platform, aimed at improving user engagement and ecosystem…
The Department of Justice told a federal judge it plans to proceed with a securities fraud case against the founders of cryptocurrency Safemoon, despite an agency memo circulated earlier this month instructing federal prosecutors to avoid pursuing cases that would involve determining the securities status of crypto assets. In a letter sent Friday to the Brooklyn federal judge overseeing the case, DOJ attorneys said they had conducted an “internal review” of whether the department’s new crypto policies might implicate the Safemoon case, and concluded it should “proceed to trial on all counts.” In early April, the DOJ shuttered its crypto-focused…
Two flagship trading protocols of Orbs, dLIMIT and dTWAP, have been integrated by the decentralized exchange SwapX on Sonic blockchain. This advancement provides users with enhanced order execution functionality usually featured in centralized exchanges, while still benefiting from decentralized finance (DeFi). dLIMIT protocol provides users with the ability to place limit orders to buy or sell tokens at specified prices. This feature facilitates strategic trading, where orders can be executed only if certain conditions regarding market conditions are reached. The other side, dTWAP, comes up with a time-based execution mode by which large orders are divided into smaller pieces and…
Jack Mallers is helming a trendy new crypto company, Twenty One. The newly announced MicroStrategy competitor, controlled by stablecoin giant Tether and its sister crypto exchange Bitfinex, plans to tap capital markets to leverage billions of dollars worth of bitcoin (BTC). Tether/Bitfinex has decided that a former marijuana industry entrepreneur-turned-Tether app operator would be the perfect CEO to take on Michael Saylor. Mallers cultivated a BTC-only brand for years — even while using altcoins like tether (USDT) for core business operations. This month, he’s continued to boast about his BTC-only ethos on national TV appearances promoting his new venture. As…
This is a segment from the Blockworks Daily newsletter. To read full editions, subscribe. “I respect his independence,” former President Nixon reassured the White House crowd at the 1970 swearing-in of Fed Chair Arthur Burns. “However, I hope that independently he will conclude that my views are the ones that should be followed.” There’s no video of the event, so it’s hard to say for sure, but I’m guessing that was meant as a joke. It’s also exactly how things worked out. Burns famously allowed Fed policy to become subservient to Nixon’s political goals, fueling the 1970s epidemic of inflation.…
INIT crypto is riding a wave of explosive momentum as price edges towards $1 fueled by 45,000% surge in volume. Initia (INIT) price has surged 36% in the past 24 hours, currently trading at $0.90, with trading volume surging by over 45,000% . The rally is fueled by major exchange listings, with the most recent addition being Gate.io, offering both spot and perps. The project is fresh out of Binance Launchpool, launching yesterday after 6-day farming period through staking USD Coin (USDC), Binance Coin (BNB), or FDUSD, where 3% of the total supply was allocated for rewards. Additionally, 5% of…
Unicoin has rebuffed the U.S. Securities and Exchange Commission’s (SEC) attempt to negotiate a settlement agreement to close an ongoing probe into the Miami-based crypto company, its CEO Alex Konanykhin revealed in a Tuesday letter to investors. In his letter, Konanykhin said Unicoin was given an “ultimatum” by the SEC to attend a settlement negotiation meeting last week, on April 18. “We declined to show up,” Konanykhin told CoinDesk, adding that the SEC had made demands ahead of the meeting that he found “unacceptable.” He declined to share specifics, telling CoinDesk that the communication between Unicoin’s lawyers and the SEC…
Panama City has officially signed an agreement with Towerbank to enable crypto payments for municipal services, including taxes, fees, and permits. This move marks a significant step forward in the city’s adoption of digital currencies. Residents will soon be able to pay using Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT). A Step Toward Crypto Adoption Panama City’s mayor, Mayer Mizrachi, explained that his team’s decision to push for crypto payments stemmed from the inability to pass a proposed Crypto Law last year. Realizing that legal barriers could slow progress, the team sought an alternative approach. The result…
Bitcoin price consolidates around $94,000 on Friday after rallying over 10% this week. US Bitcoin spot ETFs recorded a total inflow of $2.68 billion until Thursday, the highest weekly inflow since mid-December. Risk-on sentiment prevails as pro-crypto Paul Atkins swears in as head of the US SEC and Trump eases rhetoric on the Fed and China. Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot Exchange Traded Funds (ETFs) recorded a total inflow…