Search Results for: sparked

Yuan Taps New Low Versus US Dollar as Investors React to Endorsement of Chinese President’s Third-Term Bid

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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…

Veteran Trader Peter Brandt Suggests All BTC Acquired in 2021 Is ‘a Losing Trade’ — Reignites Feud With Laser Eyes Movement

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Veteran trader Peter Brandt’s latest remarks which mock crypto traders still using laser eyes crypto memes have sparked an immediate and angry response from bitcoiners on Twitter. One very famous bitcoiner, Michael Saylor, reminded Brandt that the laser eyes signify “a…

Bitcoin-Embracing El Salvador President’s Re-Election Declaration Slammed

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Just over a year after overseeing El Salvador’s adoption of bitcoin, the Central American country’s 41-year-old president, Nayib Bukele, recently declared his intention serve another five-year term. The announcement has been criticized by some who have been quick to remind Bukele…

Circle CEO, Paxos, and Trueusd Speak on Binance’s Stablecoin Auto-Conversion Decision

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On September 5, Binance explained that it planned to drop a number of usdc trading pairs and auto-convert specific stablecoin balances into busd by September 29. While the move was controversial among crypto proponents on social media, Circle Financial CEO Jeremy…

Hodlnaut Court Filings Highlight a $193 Million Shortfall, Whistleblower Condemns Crypto Lender’s Contradictory Statements

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The troubled crypto lender Hodlnaut shared another update after the company froze withdrawals on August 8, and then revealed the company is seeking judicial management in order to rehabilitate the startup. The latest update shows that Hodlnaut experienced a shortfall of…

Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700

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New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax…

Iran Amends Regulations to Ease Crypto Miners’ Access to Renewable Energy

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Authorities in Iran have revised some rules for the crypto mining industry in order to facilitate its access to green power. Licensed miners will now be able to purchase electricity produced from renewable sources from across the country at lower rates….

Despite the White House Debate, Critics Insist US Officially in a Recession After 2 Consecutive Quarters of Negative GDP Growth

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The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a…

Social Media Users Deride China’s Reported Use of Military Tanks to Intimidate Protesting Bank Customers

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Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue…

MoU Established by Clesson, the Company Behind LABEL Foundation, With CJ Entertainment and Media

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PRESS RELEASE. Clesson, the operating company behind OPENTRACK and LABEL Foundation, has officially established a memorandum of understanding (MoU) with CJ Entertainment & Media. The new collaboration has the potential to benefit both parties involved as CJ Entertainment & Media is…