Treasury Secretary Janet Yellen has warned that financial stability risks could materialize in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector, as global developments have led to increased market volatility.” Janet Yellen Warns of Financial Stability
The U.S. has charged two Chinese intelligence officers in a scheme to bribe a U.S. government employee to steal “secret” documents relating to the prosecution of a company in China. The defendants paid the government employee, who is actually a double agent, approximately $61,000 in bitcoin for stealing the information, according to the U.S. Department
Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit from Mango Market’s, according to a proposal on Compound’s governance forum. With the pause, users will not be able to deposit
The United States Department of Justice has announced charges against two Chinese intelligence officers who allegedly bribed a double agent with Bitcoin. In an Oct. 24 announcement, the Justice Department said Guochun He and Zheng Wang attempted to obstruct the prosecution of an unnamed global telecommunications company based in China, which allegedly involved paying a
The Chinese yuan’s offshore exchange rate against the U.S. dollar fell to a new all-time low of 7.33:1 just over a day after the conclusion of the Chinese Communist Party’s congress which gave President Xi Jinping the mandate to lead the country for the third time. Concerns over Xi’s unprecedented third term, as well as
The crypto market is finally showing relief after days in consolidation mode; Ethereum is leading the market with significant profit on lower timeframes. The second crypto by market capitalization is reclaiming its position as a market leader. The last time ETH’s price displayed this price action was in September before “The Merge.” At the time
October witnessed a surge in Bitcoin’s (BTC) hash rate which is pushing the metric to a new high of 245 Exahashes per second. These changes led to a sharp decrease in the hash price, resulting in a drop in the profit margins for BTC miners reaching a low of $66.8 USD/PH (per one quadrillion hashes
Several Democratic members of the United States Senate and House of Representatives have requested information from top regulators and agencies in the country regarding crypto firms hiring government officials upon their departure. In letters dated Oct. 24 addressed to the heads of the Securities and Exchange Commission, Commodity Futures Trading Commission, Treasury Department, Federal Reserve,
While the U.S. Federal Reserve ramped up the benchmark bank rate with a barrage of rate hikes, U.S. Treasury markets and global bond markets, in general, have seen one of the worst selloffs in over a decade. The Fed’s actions has fueled criticism toward the U.S. central bank as some strategists believe the onslaught of
Bitcoin (BTC) spiked above $20,000 on Oct. 25 as risk assets benefited from new U.S. dollar weakness. Bitcoin taps three-week highs Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $20,191 on Bitstamp. The move came in tandem with rising United States equities, these in turn buoyed by a declining U.S. dollar,
The share of the Bitcoin (BTC) network controlled by publicly held mining companies could grow to 40% by mid-2023, according to a new report by Hashrate Index. But this could bring more stress to an already bearish BTC market. Public Bitcoin miners’ hash rate jumps 295% in a year The outlook appeared after assessing the hash rate
According to a new page added to its support section on Oct. 25, Cash App — a mobile phone payment processing app created by Block Inc. — has added support for transactions via the Bitcoin Lightning Network. The new feature allows Cash App users to send and receive Bitcoin (BTC) on the faster, more efficient layer-2 protocol.
On this week’s The Market Report show, Cointelegraph’s resident experts discuss why Bitcoin (BTC) whales are accumulating right now and why this could be significant. Could this lead to the next bull run? To kick things off, we break down the latest news in the markets this week: Least volatile ‘Uptober’ ever — 5 things to
According to a recent report, members of the Saudi government and crown prince Mohammed bin Salman have been privately mocking U.S. president Joe Biden by questioning his keenness of thought and mental acuity. The report follows Biden’s recent trip to the region in July, when the U.S. president pressed the Saudis for more oil production,
Bitcoin (BTC) returned to local highs at the Oct. 25 Wall Street open as nervous analysts kept an eye on miners. DXY provides instant relief for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising to offer a modest challenge to resistance, still unable to escape an established trading range. United States equities
Bitcoin (BTC) ATM operator RockItCoin announced the acquisition of Tao Bitcoin on Oct. 25. Tao Bitcoin is a regional ATM operator with 56 machines, mostly located in the south of the United States. According to the company, the acquisition was part of the company’s strategy to find value and synergies among smaller and regional players
Dogecoin rose to a one-week high on Tuesday, as the meme coin rebounded from recent losses. The token rose by as much as 3% earlier in today’s session, moving away from a recent point of support in the process. Monero was also higher, as bulls pushed it closer to a key resistance level. Dogecoin (DOGE)
While the price of bitcoin has remained range bound and coasting along just above the $19K zone, over 60% of the bitcoin in circulation has not moved in a year or more. Moreover, there’s been very few transfers from bitcoins stemming from 2010, and it’s been more than two months since the last 2010 block
There’s no denying that the world is currently facing an unprecedented energy crisis, one that has compounded severely in the aftermath of the COVID-19 pandemic so much so that countries across the globe — especially across Europe and North America — are witnessing severe shortages and steep spikes in the price of oil, gas and
South African financial service providers have been primed to offer cryptocurrency products and services to customers after regulatory amendments in the country. This comes after South Africa’s Financial Sector Conduct Authority amended its financial advisory act from 2002 on Oct. 19, defining crypto assets in the country as financial products. Most importantly, the definition means