Federal Reserve President Neel Kashkari On Crypto

Minneapolis Federal Reserve President Neel Kashkari has loudly discarded the cryptocurrency market’s potential to survive long-term, saying it has become a “farce” due to unregulated chaos and escalating fraud.   Cryptocurrency market has been in the state of freefall over the last two weeks potentially die to experts bashing the markets.  Bitcoin price (BTC) plunged below the $8,000 level today while altcoins have also lost the gains they generated earlier this month. The Minneapolis Federal Reserve President, however, expects the market crash to intensify in the days to come. Source Image: coinmarketcap.com…

The Marshall Islands | Issues its Own Legal Tender Cryptocurrency

The Government of the Marshall Islands is becoming a world reference in the adoption of cryptocurrency thanks to the official promulgation of the Declaration And Issuance Of The Sovereign Currency Act. A legal tender cryptocurrency that could change the current situation regarding the valuation of cryptocurrencies. According to information revealed by Ran Neuner, Host of Crypto Trader, a show broadcasted by CNBC Africa, the document was signed on March 1, 2018, as a final step in a series of efforts made by the country to migrate to cryptos, mitigating its…

AI-Based Youtube Bitcoin Explainer Trained By Real BTC Guides Gets It All Wrong

An AI compilation published on Youtube Tuesday that used pre-existing Bitcoin (BTC) explainers to come up with its own “basic stage training” on Bitcoin has resulted in almost complete nonsense, Mashable reports May 22. Created by Botnik Studios, which describes itself on Twitter as a “human-machine creative force,” the Youtube video is a voice over of the texts generated by an AI that used “predictive keyboard trained on dozens of Bitcoin explainers.” In order to introduce the viewer to the coin, the video first explains that “Bitcoin is the most…

Gang Kidnaps 13 Year Old Boy, Demands Ransom of 15 Bitcoins

The kidnappers of a 13-year-old boy in South Africa have demanded a ransom of 15 bitcoins (BTC) – around $120,000 – for his release, The Guardian reported Tuesday, May 22. Local police stated that on Sunday, May 20, three gang members pulled up in a car near to where the teenager, Kathlego Marite, was playing with two friends close to his home in the town of Witbank. Witnesses said the men dragged him into the vehicle, leaving their ransom note at the scene. The “non-negotiable” note reportedly threatens to kill…

Spanish Central Bank Governor Believes Crypto Brings More Risk Than Benefit

The governor of the Bank of Spain has come out in favor of the possibilities of blockchain, but against the risks of cryptocurrencies, local news outlet Europe Press Financial reports Wednesday, May 23. Luis María Linde referred to blockchain as a technology that “offers interesting possibilities,” but is yet “not quite mature” in a speech at a meeting of leaders of the financial sector organized by Deloitte and two Spanish organizations. Linde notes that the current global move to a digital economy requires regulators to encourage innovation without bringing the…

UK Mosque Opens Crypto Donations in National First ‘Bitcoin Ramadan’

A UK mosque has broken with opinion and opted to accept cryptocurrency donations for this year’s Ramadan period, local media report this week. The Shacklewell Lane Mosque in Dalston, East London, also known as Masjid Ramadan, partnered with local Blockchain startup Combo Innovation to set up a Bitcoin and Ethereum wallet for the Ramadan practice of Zakat, or almsgiving. The UK’s only Turkish-owned mosque, Shacklewell Lane is going against the rulings of various Islamic scholars and the Turkish government, who previously determined cryptocurrency to be “incompatible” with Islam. Interpretations are…

Bitcoin Price Falls to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight

Join our community of 10 000 traders on Hacked.com for just $39 per month. On yesterday’s report, CCN emphasized that if the bitcoin price falls below the $8,200 resistance level once again, a reentry into the $7,000 region is inevitable. Over the past 24 hours, the bitcoin price dropped by around 4 percent from $8,300 to $7,850. Bitcoin Price Trend As CCN previously reported, the recent correction of the cryptocurrency market can be attributed to three major factors: Mt. Gox sell-off in early May, Bitfinex taxation policy, and scandal involving…

Goldman Sachs-Backed Circle Invest App Launches New Feature for Market ‘Newbies’

Goldman Sachs-funded Circle Internet Financial Ltd. has launched a new feature for its crypto investment app Circle Invest that makes it easier for “newbies” to enter the market. The feature, dubbed “Buy the Market,” gives customers the option to invest in all listed coins at once, rather than having to decide between coins individually, according to a Bloomberg report Tuesday, May 22. The app splits their investment – which can be as little as $1 –  according to the coins’ market capitalization weightings. The seven supported coins in Circle Invest…

Major Banks Pilot Successful Thailand-Singapore Blockchain Remittance

Join our community of 10 000 traders on Hacked.com for just $39 per month. A joint effort by major banks in south-east Asia has led to a successful blockchain-powered cross-border funds transfer in real-time from Thailand to Singapore. In an announcement on Tuesday, Thailand’s Bank of Ayudhya – commonly referred to as Krungsri – revealed a successful pilot test involving an international remittance from a domestic bank account to a Standard Chartered account in Singapore using its own blockchain, dubbed the Krungsri Blockchain Ledger. The endeavor involved major Japanese multinational…

Losses As High As 10%, Bitcoin Price Dips Below $8k

Crypto markets are seeing significant losses across the board, with all top ten coins by market cap in the red, as Coin360 data shows. Market visualization by Coin360 Bitcoin (BTC) is trading around $7,846 as of press time, down more than 4 percent over the 24 hour period. Trading volume for BTC has hovered between 5 and 6 bln for the past week, significantly down from volumes earlier this month. Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) has seen a loss of almost 10 percent over the…