Crypto News
Bitcoin, ADA, DOGE Notch Slight Gains as Litecoin ETF Filing Spurs LTC 14% Higher
Bitcoin traded around the $105,000 level in European morning hours Thursday as the year’s first U.S. FOMC meeting concluded with keeping rates steady, bumping sentiment across stock equities and crypto markets.Jerome Powell-led FOMC maintained the policy rate steady at 4.25-4.50 per cent in the first decision of Trump's presidency after reducing the rates for three straight meetings in 2024.“We do not need to be in a hurry to adjust our policy stance," Powell said in a post-policy press conference. The rate pause comes because officials seek further progress on inflation.Interest rate hikes can make traditional investments more appealing, potentially reducing demand for bitcoin. Conversely, lower rates tend to boost bitcoin by making other investments less attractive. Higher rates might strengthen...
Illinois Introduces Bitcoin Reserve Bill, Joining Growing List of States
Illinois has become the latest state to propose a Bitcoin reserve, joining a growing list of states advancing similar bills.Source link
Gary Gensler to Teach ‘Financial Technology’ at MIT
The former regulator had previously won the MIT Sloan Outstanding Teacher Award for the 2018-19 academic year. Former SEC Chairman Named MIT “Professor of the Practice” Before Gary Gensler became the SEC Chairman, he was teaching crypto at MIT, and on Monday, the university announced that Gensler would return to “teach and conduct research onSource link
Core Scientific Top AI Pick in Bitcoin Miners Despite DeepSeek Dislocation: Bernstein
Bernstein remains bullish on Core Scientific (CORZ) even after the shares tumbled 30% earlier this week as Chinese artificial intelligence (AI) startup DeepSeek challenged the idea that bitcoin (BTC) miners had value as data center plays. The slide means the stock is now available at a deep discount, the broker said in a research report Thursday.Core Scientific is the "leader of the pack" of the AI-focused miners, the report said, with 1.3 gigawatt (GW) of available power supply and a 12-year AI deal with CoreWeave. "Bitcoin miners have a 12-18 month finite window to build a hybrid data center business, while the hyperscaler capex remains consistent," analysts led by Gautam Chhugani wrote.Bernstein said Core Scientific is on track to...
Avalanche Blockchain’s December Upgrade Cut Usage Fees by 75%
The cost of using Avalanche, a DeFi-focused smart-contract blockchain, has slumped since the implementation of the Avalanche9000 upgrade on Dec. 16, sending the number of transactions up by more than a third.Since the upgrade, the proof-of-stake blockchain's usage fees known as gas have averaged roughly 75% less than in the months beforehand, data from Flipside and Bitquery show. The number of transactions has increased by 38% to an average of 354,691 a day.Avalanche, the world's fifth-largest smart-contract blockchain by the market value of its native token AVAX, boasts of a multichain structure of C-Chain, which handles smart contracts, P-Chain for managing staking and validator coordination and X-Chain for processing asset transfers.The upgrade comprised seven improvement proposals, including ACP-125, which...