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Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry
2.5.2023
Following the acquisition of First Republic Bank by JPMorgan Chase, several regional banks such as Pacwest and Western Alliance experienced a significant drop in their stock prices. On Tuesday afternoon, all four major U.S. benchmark stock indexes are in decline as regional bank stocks hit...
Bitcoin Hashrate Reaches All-Time High of 491 EH/s, Close to Half a Zettahash, as Network Preps for Next Difficulty Change
2.5.2023
While the next difficulty change for Bitcoin is just two days away, the network’s hashrate soared to unprecedented heights, reaching 491.15 exahash per second (EH/s) on May 02, 2023, at block height 787,895. This staggering amount of computational power came tantalizingly close to a half...
Biggest Movers: DOT Drops to 6-Week Low on Tuesday
2.5.2023
Polkadot was one of Tuesday’s biggest movers, as the token dropped to a six-week low in today’s session. Prices fell for a long-term support point of $5.60, as the global crypto market cap was once again 1% lower today. Avalanche also hit a price floor on Tuesday. Polkadot (DOT) Polkadot...
Morgan Stanley Strategist Warns of Equities Sell-Off in Response to ‘Hawkish’ Fed Message
2.5.2023
On Monday, Morgan Stanley’s equity strategist, Michael Wilson, shared his thoughts on the state of Wall Street. He expressed his belief that a sell-off could be imminent, and that this could occur as a result of U.S. Federal Reserve chairman Jerome Powell’s upcoming remarks...
Bitcoin, Ethereum Technical Analysis: BTC Moves Below $28,000 Ahead of FOMC Decision
2.5.2023
Bitcoin fell below the $28,000 level on Tuesday, as markets continued to prepare for tomorrow’s Federal Reserve interest rate decision. The Fed is expected to increase rates by 0.25%, despite the U.S. economy slowing down. Ethereum also remained lower, moving close to a breakout below...
India, Russia Mull Payment System Integration in Face of US Sanctions
2.5.2023
The governments of India and Russia are considering integrating part of their payment systems, in order to counter the possible future effect of US sanctions on the capital flows of each country. The deal would include the integration of India’s Rupay card system and its Russian counterpart...
Ethereum Shapella Upgrade Sets the Stage in Latest ProBit Global Trading Contest
2.5.2023
PRESS RELEASE. ProBit Global has announced the native asset for the Ethereum network, ETH, as the next token for its series of trading competitions. The crypto trading contest, which allows ProBit Global users to win rewards based on their trading volume, gives traders a low-risk way to...
Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries
2.5.2023
International analysts have called out the supposed use of the national security policy of the U.S. as a tool to justify the establishment of blockades and economic sanctions against countries like China and Russia. While U.S. Treasury Secretary Janet Yellen has recognized that a decoupling of...
Bitcoin Cash Smart Contracts ‘Comparable to Those on Ethereum’ Possible via May Upgrade, ‘1000x Efficiency Advantage’: Dev Jason Dreyzehner
2.5.2023
Pro-freedom technologies advocate and software developer Jason Dreyzehner recently spoke with Bitcoin.com News via email about the upcoming Bitcoin Cash network upgrade on May 15. One of the most talked about improvement proposals set to go through on that date — which proponents view as...
China Ramped Up Gold Production During Q1 Amidst Steady Demand From Central Banks
2.5.2023
Gold companies operating in China ramped up their production levels during the first quarter of 2023. According to industry reports, the Chinese gold industry managed to recover its extraction levels, reaching numbers it saw before the Covid pandemic, with the country engaging in a record streak...
Putin Says Multipolarity Trend Will Intensify — Warns Those Who Do Not Follow Will Lose
2.5.2023
Russia’s president, Vladimir Putin, says the trend toward multipolarity is inevitable and will only intensify. “Those who do not understand this and do not follow this trend will lose,” the Russian president warned. Putin on Multipolarity Trend Escalating Russian President Vladimir Putin talked...
Treasury Secretary Yellen Warns US Could Default on Its Debt by June 1
2.5.2023
U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations...
US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion
2.5.2023
Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission...
Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/s
2.5.2023
Mawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower by 1 exahash...
Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default
1.5.2023
Amid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on...
Ethereum Network Fees Surge 153% in 30 Days, While Arbitrum Daily Transactions Outpace ETH Following Shapella Upgrade
1.5.2023
Ethereum network fees have experienced a significant upswing following the implementation of the Shapella upgrade on April 12th. In the last 30 days, onchain fees have soared by over 153%, from a prior rate of $4.65 per transfer to a current average of $11.80 per transaction. The data highlights...
Paysenger Launches IDO as the Platform Looks to Solve the Challenges of AI-Generated Art
1.5.2023
PRESS RELEASE. The rise of AI-generated art has created ethical concerns and challenges within the art community, as many artists perceive these tools as undermining their skills and exploiting their work for profit. Paysenger, a groundbreaking blockchain-based collaboration platform for content...
Biggest Movers: LTC Back Under $90.00, as SOL Extends Declines
1.5.2023
Litecoin fell below the $90.00 level on Monday, as sentiment in cryptocurrency markets remained mostly bearish. The global market cap is down 1.87% at the time of writing, which seems to be a result of the upcoming Federal Reserve interest rate decision. Solana was also in the red today. Litecoin...
Charlie Munger Raises Concerns Over Troubled Commercial Property Loans at US Banks
1.5.2023
Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal...
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators
1.5.2023
On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable...