Recent analysis from economists at the U.S. Treasury has shed light on the rapidly evolving landscape of cryptocurrency ownership among American households. The data, drawn from IRS tax returns, indicates that the number of individuals reporting cryptocurrency holdings surged nearly threefold from 2020 to 2021. This explosion in crypto ownership aligns closely with notable trends
Crypto
In the vibrant world of cryptocurrencies, meme coins have carved a significant niche, and Shiba Inu (SHIB) has been particularly noteworthy. After a period of relative stagnation, where it saw a lack of substantive movement, SHIB made headlines recently by reaching a multi-month high exceeding $0.000033. This surge brought the coin briefly back into the
As financial instruments, stablecoins have carved a niche in the digital economy, signaling a shift in how we approach transactions. With a market capitalization hovering below $200 billion, stablecoins might seem minor in the grand scheme of global finance, accounting for merely 1% of the United States’ money supply and foreign exchange activities. Nevertheless, recent
As November 2024 drew to a close, the crypto landscape braced itself for troubling revelations. An overwhelming 99.96% of total financial losses were attributed to hacks, illustrating a significant shift in the security paradigm, particularly concerning decentralized and centralized finance systems. Amidst this chaos, fraud and rug pulls dwindled, amounting to a mere $25,300 from
Coinbase, a leading cryptocurrency exchange in the United States, has announced its decision to cease rewards for holders of the USD Coin (USDC) stablecoin in the European Economic Area (EEA) effective November 1. This pivot, driven by emerging regulations concerning e-money tokens, aligns with the forthcoming implementation of the Markets in Crypto Assets (MiCA) directive.
Recent reports indicate that the U.S. Customs and Border Protection (CBP) is halting specific shipments of Antminer ASIC miners, creating a stir among bitcoin mining companies. Several of these companies, which chose to remain anonymous, revealed that the action stems from a directive by the Federal Communications Commission (FCC), affecting the deliveries of equipment primarily
The cryptocurrency market is undergoing a notable shift characterized by the emergence of altcoins that are gaining traction and slowly eroding Bitcoin’s long-standing dominance. As Bitcoin finds itself consolidating around the $97,000 mark, the overall market cap hovers around an impressive $3.56 trillion. This phase of price volatility for Bitcoin has been particularly intriguing; it
Cardano’s ADA has recently come into the spotlight due to a significant buying spree by notable investors, often referred to as “whales.” These large-scale purchases have collectively amounted to over $130 million in ADA tokens, indicating a strong belief in the asset’s potential. Such activity can create an environment of scarcity by reducing the number
The stablecoin market is experiencing unprecedented growth, characterized by remarkable increases in market capitalization and transaction volume. Tether (USDT) leads this rise, commanding an impressive $133 billion in circulation, which constitutes a staggering 69% of the total global stablecoin market. Following closely is USD Coin (USDC), which has also witnessed significant growth, reaching a market
In a significant move to modernize municipal finance, Vancouver Mayor Ken Sim has proposed the inclusion of Bitcoin (BTC) in the city’s investment portfolio. This initiative marks a strategic effort to diversify financial assets and establish Vancouver as a crypto-friendly destination. The motion, titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming
