Category Archives: Cryptocurrency
Federal Reserve Contradicts Coinbase Data on Cryptocurrency Usage in US – Watcher Guru
Leading trading platform Coinbase published a report saying that over 52.3 million people in the US own cryptocurrency. The report from Coinbase was published last year indicating that cryptocurrency usage is rapidly growing in the US. However, the Federal Reserve has published a new report that contradicts Coinbases data on cryptocurrency usage in the US.
Also Read: US Dollar Enters Consolidation Mode After Mays PMI Report
A new poll from the Federal Reserve consisting of 11,400 respondents contradicts the Coinbase data on cryptocurrency usage in the US. According to the data published by the Federal Reserve, only 7% of people in the US use cryptocurrencies.
The newly released Economic Well-Being of US Households in 2023 report by the Federal Reserve is applied by Ipos, a consulting and market research firm that had a participation rate of 11,400 respondents from different demographic groups. Out of these, only 7% said that they use cryptocurrency, which is way lower than that of the Coinbase report.
Also Read: 10 ASEAN Countries To Ditch the U.S. Dollar
The Federal Reserve report is much lower than the previous years. The percentage reported in 2022 for cryptocurrency usage in the US was 10%. In 2021, the reported numbers were 12%. According to the Federal Reserve report, cryptocurrency usage in the US is declining and not rising, as claimed by Coinbase.
Jake Donoghue, the author of the Crypto Confidential: An Insiders Account From The Frontlines Of Fraud questioned the Coinbase report. Coinbase where are you getting your figures from? The Fed seems to refute them, he said. However, Coinbase has yet to counter the Federal Reserve reports and provide further insights on their findings.
Also Read: US Dollar: Analyst Calls De-Dollarization a Bad Joke
Nonetheless, it can be said that the Federal Reserves sample size could be smaller compared to the Coinbase respondents. While the trading platform said that 52.3 million people use cryptocurrency, 75.5 million are expected to trade at least once.
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Federal Reserve Contradicts Coinbase Data on Cryptocurrency Usage in US - Watcher Guru
Kabosu, the face of cryptocurrency Dogecoin, dies at 18, owner says By Reuters – Investing.com
WASHINGTON (Reuters) - Kabosu, the Japanese dog that became a global meme and the face of alternative cryptocurrency has died at 18, her owner announced in a blog post on Friday.
The Japanese passed away while sleeping, her owner Atsuko Sato wrote.
Kabosu became recognizable as the face of Dogecoin, an alternative cryptocurrency that began as a satirical critique of the 2013 crypto frenzy.
But the token jumped in value after Tesla (NASDAQ:) boss Elon Musk, a proponent of cryptocurrencies, began tweeting about it in 2020. Since then the billionaire has repeatedly promoted the coin.
Dogecoin added as much as $4 billion to its market value last year when the billionaire, who bought social media site Twitter in 2022, briefly replaced Twitter's blue bird logo with an image of Kabosu. Musk subsequently renamed Twitter X.
With a market capitalization of around $23.6 billion, Dogecoin is now the ninth biggest cryptocurrency, according to data site Coingecko.com.
The impact this one dog has made across the world is immeasurable, Dogecoin posted on social media site X on Friday.
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Kabosu, the face of cryptocurrency Dogecoin, dies at 18, owner says By Reuters - Investing.com
Cryptocurrency: Top 3 AI Coins That Could Surge 100% in June – Watcher Guru
Artificial intelligence (AI) cryptocurrencies have emerged as a promising sector. With the growing adoption of AI technologies across various industries, these coins are well-positioned to capitalize on the increasing demand for decentralized solutions.
In this article, we will explore the top three AI coins that could potentially surge by 100% in June. Near Protocol (NEAR), Render (RNDR) and The Graph (GRT).
Render (RNDR) aims to revolutionize the way digital content is created and rendered, making it more accessible and cost-effective for users worldwide.
Despite experiencing a 9.15% decrease in the past 24 hours, with a current trading price of $10.43, Renders strong fundamentals and growing adoption suggest that it could be poised for a price surge in June. In addition, the 24-hour trading range for RNDR is between $10.33 and $11.82, indicating a relatively volatile market.
Also read: Shiba Inu (SHIB) Predicted to Hit $0.0001553: Heres How
Near Protocol (NEAR), a scalable and developer-friendly blockchain platform, has been gaining traction in the AI and blockchain ecosystems. With its focus on usability, performance, and interoperability, Near Protocol has attracted a growing number of developers and projects.
Currently trading at $7.95, NEAR has experienced a modest 0.31% increase in the past 24 hours. The coin has a 24-hour trading range between $7.76 and $8.24. Also, as more AI projects build on the Near Protocol blockchain, the demand for NEAR tokens could potentially surge.
Also read: Top 3 Cryptocurrencies To Buy For 5X Gains In Anticipation Of Ethereum ETF Approval
The Graph (GRT), an indexing and querying protocol for blockchain data, has been playing a crucial role in the AI and blockchain ecosystems. Additionally, by enabling efficient access to decentralized data, The Graph has become a key infrastructure provider for AI projects.
Despite experiencing a 0.72% decrease in the past 24 hours, with a current trading price of $0.3364, In addition, The Graphs strong partnerships and growing adoption suggest that it could be poised for a price surge in June. The 24-hour trading range for GRT is between $0.3317 and $0.3572, indicating a relatively stable market.
Also read: Pepe Coin Hits New ATH: How High Can It Go This Weekend?
The AI and blockchain intersection has created exciting opportunities for investors and enthusiasts. With coins like Render, Near Protocol, and The Graph emerging as top contenders for potential explosive growth.
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Cryptocurrency: Top 3 AI Coins That Could Surge 100% in June - Watcher Guru
Kabosu, the dog that inspired the dogecoin meme, has died – CBC.ca
The famous Japanese rescue dog that helped make a form of cryptocurrency famous, has died.
The dog, named Kabosu, was 18.
Kabusus owner, Atsuko Sato, announced the news in a blog post on May 24.
Kabosu was a Japanese shiba inu dog who rose to fame in 2013.
The dogs face became a meme associated with a cryptocurrency called dogecoin.
Millions of images of the dog were shared on social media at the time.
Eventually, Kabosus smiling face became the image on the digital coin.
Kabosu and her owner, Atsuko Sato, got to visit a statue of Kabosu in a park in Sakura, Japan, in March. (Image credit: Philip Fong/AFP/Getty Images)
Dogecoin, which is pronounced dOHJ coin, is a form of virtual money called cryptocurrency, which only exists online.
A couple of engineers invented dogecoin in 2013 by mashing together the most popular form of cryptocurrency, called bitcoin, and a meme of Kabosu.
It jumped in value in 2020 after billionaire Elon Musk began tweeting about it.
Musk owns companies like Tesla, SpaceX and X (formerly Twitter).
The influential billionaire has repeatedly promoted the coin.
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With files from Reuters
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Kabosu, the dog that inspired the dogecoin meme, has died - CBC.ca
Cryptocurrency: Top 3 Memecoins Predicted to Explode in June – Watcher Guru
After a significant rally yesterday, the cryptocurrency market seems to be cooling off once again. Bitcoin (BTC) has fallen to the $69,000 mark, while the global market cap has dropped to $2.72 trillion. The rally was fuelled by positive movements in the spot Ethereum (ETH) ETF (Exchange Traded Fund) debate. The SEC (Securities and Exchange Commission) asked exchanges interested in the ETF to update their 19b-4 filings. However, the move did not mean an outright approval, leading to a market correction.
Despite the slight correction, we may witness a few assets explode over the next few weeks.
Pepe (PEPE):
Pepe is among the best-performing crypto assets over the last year. The frog-themed memecoin hit an all-time high of $0.00001441 on Thursday, May 23, 2024. However, analysts anticipate the memecoin to continue its bullish trajectory for the next few weeks at least.
Also Read: Top 3 Cryptocurrencies That May Hit All-Time Highs In June 2024
According to CoinCodex, PEPE could surge to $0.00004858 on June 20, 2024. Reaching $0.00004858 from current levels would translate to a growth of about 242.3%.
Changelly also predicts that PEPE will continue its rally in June. The platform anticipates the cryptocurrency to hit a new all-time high of $0.00003749 on June 18, 2024.
dogwifhat (WIF):
WIF is another cryptocurrency that has displayed stellar growth over the last few months. The Solana-based memecoin reached an all-time high of $4.83 on Mar. 31, 2024. However, CoinCodex predicts WIF to surpass the $10 mark next month. The platform anticipates WIF to hit $10.03 on June 19, 2024. Reaching $10.03 from current levels would translate to a growth of about 235.45%.
Shiba Inu (SHIB):
Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. The dog-themed crypto witnessed a massive price spike in March, following BTCs climb to a new all-time high. However, SHIBs price has struggled to gain momentum over the last few weeks.
Also Read: Shiba Inu: Top 3 Things That Can Take SHIB To $0.001
According to CoinCodex, SHIB could surge to a new all-time high of $0.00008625 on June 20, 2024. Reaching $0.00008625 from current levels would translate to a growth of about 239.1%.
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Cryptocurrency: Top 3 Memecoins Predicted to Explode in June - Watcher Guru
Bringing clarity to cryptocurrency – Washington Times
OPINION:
As the FTX collapse demonstrated in 2022, issuing and trading digital assetsincluding cryptocurrenciesneed clear rules of the road.
The regulatory gaps in the digital asset market must be filled by legislation, not by independent agencies ruling by enforcement. If Congress does not take action, Securities and Exchange Commission (SEC) Chairman Gary Gensler will continue to exercise broad authority over all digital assets.
Thats why we collaborated with House Financial Services Committee Chairman Rep. Patrick McHenry (R-NC) and House Agriculture Committee Chairman G.T. Thompson (R-PA) to craft our Financial Innovation and Technology for the 21st Century Act (FIT21), which crafts a fit for purpose regulatory framework for digital assets that protects consumers and investors while keeping innovation in the United States.
This type of committee collaboration is unprecedented and may be the most substantial piece of digital asset legislation in Congresss history. FIT21 directs the SEC and Commodity Futures Trading Commission (CFTC), along with the bank supervisors, on how to classify cryptocurrencies and other digital assets as securities or commodities.
Since our two committees passed FIT21 last summer, this bill has incorporated our members bipartisan priorities. We believe it fully responds to the Financial Stability Oversight Council (FSOC) and the Presidents Executive Order on Ensuring Responsible Development of Digital Assets.
Digital asset regulation is making further bipartisan strides in Congress. This past week, both the House and Senate sent the SEC and White House a clear, bipartisan message to nullify their SAB 121 rule, which is detrimental to consumer protection and yet another example of SEC Chair Genslers reckless rule-by-enforcement approach to cryptocurrency. Democrats in the House and Senate voted to roll back SAB 121, signaling that protecting consumers and preserving innovation in America are priorities for lawmakers on both sides of the aisle.
The FIT for the 21st Century Act is a pragmatic legislative solution that ensures both crypto-native and traditional finance companies can sensibly innovate in this market while establishing consumer protections that are currently clearly inadequate.
As Chairmen of the Digital Asset Subcommittees, we remain committed to passing our landmark legislation into law. This week, our historic bill heads to the House Floor, where it must pass to ensure America continues fostering innovation and remains a global tech and finance hub.
French Hill represents Arkansass Second Congressional District and Dusty Johnson represents the state of South Dakota at-large in the U.S. House of Representatives.
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Bringing clarity to cryptocurrency - Washington Times
Kabosu, the Face of Cryptocurrency Dogecoin, Dies at 18, Owner Says – Asharq Al-awsat – English
The Saudi Data and Artificial Intelligence Authority (SDAIA) announced on Tuesday that its ALLaM model, which generates Arabic text, was included in IBMs leading watsonx platform.
The announcement was made at the IBM Think event underway in Boston.
This selection is testament to ALLaMs advanced technical capabilities.
During its experimental phase, the model underwent rigorous testing against international standards for generative AI to ensure its readiness to compete with other models on watsonx, a platform widely used by developers around the globe.
Currently available in a trial version, ALLaMs inclusion in watsonx allows for further professional evaluation. The testing will be instrumental in accelerating the release of the model's full capabilities and establishing it as a highly competitive force in the field of Arabic language generation.
The inclusion also aligns with Saudi Arabia's, specifically with SDAIA's, broader mission to promote the Arabic language on regional and global scale. The efforts focus on preserving the integrity of the language while promoting its use by enriching Arabic content in various fields, including technical, cultural, literary, scientific, and other humanities-based domains.
Ultimately, this initiative aims to leverage AI technologies and digital applications to foster cultural diversity and benefit all humanity, regardless of language, nationality, or educational background.
These efforts contribute to the goals outlined in Saudi Vision 2030, driven by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister of the Kingdom of Saudi Arabia, and Chairman of the Board of Directors of SDAIA, to make the Kingdom a global leader in advanced technologies, including those associated with AI.
ALLaM is the first Saudi-developed AI system designed to answer user questions on different knowledge domains in Arabic.
The groundbreaking model leverages cutting-edge AI technology. Trained on a massive Arabic language dataset, one of the world's largest, and supplemented by English content, ALLaM ensures comprehensive responses.
Users can submit inquiries in text or audio format, and ALLaM will answer in the chosen format, drawing from the most trusted sources in the Kingdom and the Arab world.
The ALLaM model is the product of the SDAIA-IBM partnership. This collaboration is a significant milestone on the road to advancing Arabic language applications within generative AI, said Regional Vice President of IBM Saudi Arabia Ayman Al-Rashed.
"This cooperation unlocks the potential of Arabic language models for both public and private sectors, aligning with the cultural needs of the region," he added.
Al-Rashed further highlighted the broader impact of this project, stressing: "Companies can leverage these models to develop innovative services."
This latest development strengthens Saudi Arabia's position as a leader in AI technology tailored to the specific needs of the regional market, he went on to say.
Artificial intelligence experts, technicians, innovators, company presidents, and policymakers formed part of the IBM Think event.
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Kabosu, the Face of Cryptocurrency Dogecoin, Dies at 18, Owner Says - Asharq Al-awsat - English
Bitcoin and crypto have a lot of terms. We’ve got a glossary for what you need to know – Quartz
Illustration : Benoit Tessier ( Reuters )
Tokens, cryptocurrencies, and digital assets are often used interchangeably but are different from each other.
Digital asset is a broader term that refers to assets that exist in digital form and can be stored, transferred, and managed electronically. Examples include cryptocurrencies, tokens, and NFTs (non-fungible tokens).
Cryptocurrency is a digital asset that relies on cryptography to facilitate secure financial transactions. It is decentralized and operates on a distributed ledger technology called a blockchain. Bitcoin is an example of a cryptocurrency.
All cryptocurrencies are digital assets, but not all digital assets are cryptocurrencies.
The token, on the other hand, is created on top of an existing blockchain network. For example, Shiba Inu, a popular meme-based coin, was created on the Ethereum blockchain network. It doesnt have its own network.
That means one blockchain network can support multiple tokens. Ethereum, for instance, is the foundation for several tokens.
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Bitcoin and crypto have a lot of terms. We've got a glossary for what you need to know - Quartz
Only a fool would vote on crypto alone – Blockworks
US presidential candidates on both sides of the two-party spectrum are taking advantage of the crypto industry.
Youll notice how I didnt say that crypto will be a hot button topic this election season, or that the crypto space will play any sort of role in shaping election discourse.
No. Its clear to me that some of the main players in this presidential race are planning to exploit the crypto world for money and votes and those in crypto should stop playing along.
Why should favorable cryptocurrency legislation take precedence over all else? Perhaps you really believe that the financial system is broken, and that a path forward for cryptocurrency in the US is the best way to create a new, more egalitarian society that will allow all to flourish.
But thats not what I see.
What I see is a small number of wealthy individuals, who made that wealth from cryptocurrency, looking for the government to let them continue growing that wealth unfettered.
Among diehard crypto evangelists right now, voting for crypto means voting Republican for president. According to this side of the debate, any other decision will virtually assure the death of the American crypto industry.
This fear (true or not) has led some major personalities in Web3 to push crypto supporters into becoming single-issue voters. Their message is clear: Choose your 2024 candidates based solely on their cryptocurrency stance, or else.
In other words, Americans should prioritize their own selfish financial interests over broader societal and ethical concerns. When you promote the idea of voting for Americas crypto industry above all else, youre deciding to ignore all of the other issues that are really at stake this election season healthcare access, Social Security, gun legislation, womens rights, LGBT issues, immigration, to name a few.
I want to be clear I do not care if you vote Republican, Democrat, or third-party, as long as you care about the issues at stake, and truly believe that the candidate in question is representative of your views. But voting for a candidate you would not otherwise support, simply because they favor the deregulation of a sector in which you hold a profit motive, is a compromise that you should not make.
Cryptocurrency has undeniably (and perhaps unfortunately) become a partisan issue.
Blockchain technology, which underpins the entire crypto industry, is neither inherently good or bad. But its the actions of individuals and what they do with this technology that has drawn regulatory scrutiny over the years. This has transformed a neutral technology stack into a deeply partisan issue, with sharply divided views across party lines concerning its integration into the American financial system and beyond.
On the left side of the political spectrum the same side already in favor of stricter financial regulations politicians often place crypto against a global backdrop of scams, money laundering and market manipulation to strengthen their calls for oversight. Their tagline is to keep consumers safe.
Lawmakers on the right who already favor less financial regulation as a rule instead posit that intense crypto regulation will cripple innovation and impede technological advancement. They say that their aim is to keep American innovation moving forward at a brisk pace, far ahead of other countries like China.
However, their supposed motivations are arguably applicable only during the election season. Because what all politicians actually want is your attention, your money, and ultimately your ballot. As with most issues, when the time comes, it is unlikely that much in the way of meaningful change will come from either side of the aisle. Instead, it will be the actions of the innovators within the crypto space that move the needle forward which you would think that anyone who truly supports a limited government would appreciate.
The very idea that crypto needs to be voted into office has led to the platforming of some very unsavory people who really have nothing to do with crypto at all besides a shared desire to solicit donations from this niche, newly rich subset of Americans.
Vivek Ramaswamy gave a fireside chat at Messaris Mainnet last fall, promoting his presidential crypto plan a few months before he dropped out of the race. Consensus will have Robert F. Kennedy Jr. speak this year, announcing the news with a headline calling him a pro-crypto presidential candidate. I can think of a lot of other modifiers for RFK Jr. that are more headline-worthy than his stance on crypto.
And most importantly, Crypto Twitter has, for the most part, widely embraced former President Donald Trumps words of support for NFTs and crypto. And far be it for me to say whether that support is genuine, or more largely based on the fact that hes made millions of dollars selling NFTs branded with his own image.
Backing these candidates simply because they seem to make positive noise about crypto isnt taking back the power from Wall Street or helping make the world a more financially equitable place its falling for empty campaign rhetoric.
The idea that any presidential (or gubernatorial or senatorial) candidate is trying to win favor with the crypto crowd because they truly believe in crypto is laughable. These candidates are looking for crypto money, nothing more and nothing less. Those in crypto who support such candidates are either willing to pretend that these officials understand even the basic strokes of how crypto works under the hood (let alone its implications for the broader frameworks of finance and democracy), or they are willing to compromise their morals and ethics for the mere possibility of moon-making crypto legislation in the future.
As the one, big, obvious example: If you believe that Donald Trump will truly support the crypto industry, you have to be willing to overlook his judicially acknowledged sexual assault charges, overt institutional fraud and genuine attempts to overthrow American democracy when you cast your vote in November.
Is cryptocurrency really that important to you?
Molly Jane Zuckerman is the opinion editor at Blockworks. She previously led educational content at CoinMarketCap and ran the news desk at Cointelegraph. Molly Jane is now based in New York after almost a decade in Russia, and can talk your ear off about Russia lit and detective novels.
Jeff is an editor at Blockworks, based in the United States. He has been a part of the blockchain space for over a decade, most recently working as US news editor at Cointelegraph. His areas of focus include empowering artists and creators through technology, using proof-of-participation methods to reward self-improvement, reducing the effectiveness of Sybil attacks, seeking transparent equity for disadvantaged communities, and exploring fairer models of world governance.
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Only a fool would vote on crypto alone - Blockworks
Revealed: Countries with the Highest Cryptocurrency Ownership, 2024 – CEOWORLD magazine
A recent report by CEOWORLD magazine has ranked countries based on their cryptocurrency ownership rates. The study found that the United Arab Emirates (UAE) has the highest percentage of its population who own crypto, with almost 30.39% of the UAEs total population owning crypto. This is largely due to the countrys favorable regulations towards blockchain technology, and the use of cryptocurrency is legal. Vietnam ranks second-highest among countries with the highest cryptocurrency ownership, with almost 21.19% of the total population owning crypto. The rapid digitization of the economy in Vietnam is responsible for the surge in crypto ownership across the country.
It is worth noting that if we were to rank countries based on the number of people who own cryptocurrency, India would come in first place with 93 million crypto owners, followed by China with 59 million, and the US with 52 million crypto owners coming in third place.
Have you read? Best countries for hiring freelancers. Highest Paid Big Pharma CEOs And Top Executives. Best Websites For CEOs, business leaders, and high-net-worth individuals. Best Executive Search Firms And Consultants in America. Revealed: Most Powerful Women In The World.
This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.
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Revealed: Countries with the Highest Cryptocurrency Ownership, 2024 - CEOWORLD magazine