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Gold bug and economist Peter Schiff has warned that the price of bitcoin may not rise when other financial assets rebound, even though the crypto fell alongside them. “The bitcoin bubble popped and collectors will be selling no matter what happens to financial assets,” he predicted. Peter Schiff’s Bitcoin Outlook Economist and gold bug Peter Schiff shared his thoughts about the future of bitcoin and cryptocurrency in a series of tweets this week. He wrote Monday: The fact that bitcoin fell along with financial assets doesn’t mean that it will rise once those markets turn. “Bitcoin isn’t a financial asset. It’s a collectable digital token,” Schiff continued. “The bitcoin bubble popped and collectors will be selling no matter what happens to financial assets.” The economist also believes that bitcoin is not scarce despite the cryptocurrency’s 21 million supply cap. Responding to a tweet Tuesday stating that ...

Bitcoin, stocks or else, there is now no light at the end of the Fed rate hike tunnel in 2023, says Jim Bianco. Bitcoin (BTC) and other bulls will not benefit from a major change in United States inflation policy in 2023, one analyst says. In a Twitter thread on Dec. 20, Jim Bianco, head of institutional research firm Bianco Research, said that the Federal Reserve would not “pivot” on rate hikes next year. Bianco: Japan YCC move "matters for all markets" In light of the surprise yield curve control (YCC) tweak by the Bank of Japan (BoJ), analysts have become all the more bearish on the prospects for risk assets this week. As Cointelegraph reported, the move spelled immediate pain for the U.S. dollar, and with the Wall Street open in sight, equities futures were trending down in step at the time of writing. For Bianco, the fact that the BoJ was now seeking to follow the Fed in tightening policy to ward off inflation meant that the latter was unlikely to loosen its own policy...

After reporting and helping patch a smart contract vulnerability, the developer claims that the projects he helped started to ignore him. As hacks and exploits continue to go rampant within the crypto industry, the importance of finding vulnerabilities to prevent potential losses becomes of utmost importance. However, a Web3 developer highlighted that it’s not rewarding to do so.  In a tweet, a Web3 developer claimed that he found a vulnerability in a Solana smart contract that would have affected several projects and around $30 million in funds. According to the dev, he reported and helped patch the vulnerabilities. However, when it was time to ask for a reward, the projects just started to ignore him. The developer noted that this sends a wrong message because it shows that projects would rather get hacked than have critical bugs reported to them. He wrote: “This is why you have situations like the Mango exploit happen where the exploiter will first steal the funds and then start...

Dogecoin has had a remarkable journey over the years. Since its inception, the meme coin has gone through different phases to stand where it is now. The initial journey was tough for DOGE, as it was criticized for being just a meme token and nothing more. However, Elon Musk’s interest in the meme coin aided in its skyrocketing price and popularity. With Elon Musk taking over Twitter, the likelihood of DOGE being incorporated into the social media platform has also been thrown around. Dogecoin has hit several milestones over the past year. The meme coin has now surpassed Coinbase (COIN) in terms of market capitalization. JUST IN: # Dogecoin now has a larger market cap than Coinbase $COIN. — Watcher.Guru (@WatcherGuru) December 19, 2022 DOGE dethrones COIN, what’s next? As per the data from CoinMarketCap, DOGE is now ranked eighth in terms of global market cap. The current market cap of DOGE stands at $9,939,409,201. Data from Google reve...

CoinShares’ stock was previously listed on the Nasdaq First North Growth Market, an alternative stock exchange for small and medium-sized companies. Major cryptocurrency investment firm CoinShares has debuted trading on Nasdaq Stockholm, the primary securities exchange of the Nordic countries. CoinShares officially announced on Dec. 19, the first day of trading on Nasdaq Stockholm’s main market, with CoinShares’ stock starting trading on the exchange under the ticker CS. The latest trading debut marks a change of listing venue for CoinShares’ stocks. Previously, CS shares were traded on the Nasdaq First North Growth Market, an alternative stock exchange for small and medium-sized companies in Europe. CoinShares first went public by listing its shares on the Nasdaq First North Growth Market in March 2021. According to the latest announcement, there is no offering or issuance of new shares in connection with the CoinShares’ shares being admitted to trading on Nasdaq Stockholm. “Shar...

A South Korean province is using the Metaverse for closer economic ties with Vietnam and an elaborate phishing scam netted 14 Bored Apes. South Korea’s Gyeongbuk Province has announced plans to use Web3 technology to expand its economic relations with Vietnam. In a Dec. 19 announcement, the province’s governor Lee Cheol-woo said the metaverse project would focus on “growing economic, cultural, commercial, and people-centered contacts with Vietnam.” According to the governor, the project will also see the region become home to a “metaverse innovation special zone,” which would come with special regulations and residential conditions within the zone. Back in June, the province announced it would invest $13.8 million to establish itself as a hub for metaverse innovation in the hope of growing the local economy. South Korea has been very active in Metaverse development since the beginning of 2022 and it aims to become the fifth most metaverse-ready country in the world. It has allocated $...

U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped” and “the technology would simply migrate offshore” if Congress tried. Separating Illegal Actions From ‘Perfectly Lawful and Innovative Cryptocurrencies’ U.S. Senator Pat Toomey (R-PA) explained in his opening statement at the Senate Banking Committee hearing Wednesday that the collapse of crypto exchange FTX is not an indictment against cryptocurrency. “There was unauthorized lending of customer assets to an affiliated entity, and there were fraudulent promises to investors and customers about FTX’s operations. These are outrageous and completely unacceptable,” the senator described, emphasizing: I want to underscore a bigger issue here: The wrongf...

Massbit is building a decentralized, globally distributed blockchain delivery network (BDN) to provide users with streamlined and robust access to blockchain APIs. The product offering has 4 main components: Massbit Route, Prime, Insights, and multi-chain indexing. Massbit Route is Massbit’s flagship product, and it is currently running on the second testnet iteration. Massbit Route is a decentralized network of providers, including nodes and gateways, whose task is to connect users to the supported blockchains by routing their RPC connection requests. Those requests are initially sent to gateways which then address them to the relevant node, which transmits requests to its associated node on the relevant supported blockchain. Massbit aims at achieving significant provider redundancy to ensure that if some providers in a given geographic zone are not available at a given moment to serve a request, it can still be served reliably by other providers. At the time of writing, the Route ne...