Month: May 2023

Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion

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In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently, 184 blocks need to be cleared to … Read more

Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More — Week in Review

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Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks that de-dollarization fears are overblown. In crypto … Read more

‘The Future of Digital Payments Lies in Web3 Payment Services’ Says Robert Miller of Fuse

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Despite not being mainstream payment solutions yet, cryptocurrency-based payments (also known as Web3 payments) already bring benefits such as lower transaction fees, Robert Miller, the vice president of growth at Fuse, a layer 1, EVM-compatible blockchain for launching dapps, has asserted. For merchants, Web3 payments come with the added benefit of what Miller called protection … Read more

IRS, Chainalysis Helping Ukraine Track Russians Using Crypto to Evade Sanctions

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The U.S. Internal Revenue Service (IRS) said it’s working closely with Ukraine to help it trace crypto transactions of Russian sanctions evaders. The agency is providing the Ukrainians access to a Chainalysis tool as well as specialized training to Ukrainian law enforcement. IRS Offers Ukraine Tools From Chainalysis to Trace Russian Blockchain Transactions The criminal … Read more

Trump NFTs Falter, Solana (SOL) And BNB (BNB) Underwhelms as NFT Market Stagnates, TMS Network (TMSN) Makes Huge Impact on Investors

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The NFT market has experienced a slowdown in recent months, leading to underwhelming performances by notable tokens like Solana (SOL) and Binance Coin (BNB). Even Donald Trump’s foray into the world of NFTs has failed to create the hype that was expected. However, one token that has managed to buck the trend and make a … Read more

TMS Network (TMSN) Defying SEC’s Crypto Warning, Shaming Arbitrum (ARB) and Polygon (MATIC) Amid Cringeworthy Market Performances

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Of all the words in the English dictionary, “regulation” has to be the most terrifying to crypto enthusiasts. Unless you’ve been hiding under a rock, you will have heard all about the SEC (Securities and Exchange Commission) and its plan to crack down on crypto and the negative impact this has had on the confidence … Read more

Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

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Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of … Read more

Gallup Poll: Americans’ Preference for Real Estate, Crypto Plunges — Fondness for Gold Skyrockets

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A recent Gallup Poll reveals a significant decline in the percentage of Americans favoring real estate as their preferred long-term investment, despite its continued popularity. Conversely, the Gallup survey indicates that the perception of long-term investments in gold has experienced an almost twofold increase compared to the previous year’s poll on the same topic. Gallup … Read more