Tom Emmer, during a speech in the House of Representatives of Congress, protested against the launch of a central bank digital currency (CBDC). According to the congressman, with the help of the digital dollar, federal authorities will be able to access information about citizens' financial transactions. Tom Emmer called CBDC a "surveillance tool" that will help officials track private payments, violating privacy. The congressman cited China as an example, calling the digital yuan a financial system directed against citizens. Tom Emmer believes that the Chinese government is able to spy on its citizens with the digital yuan, and if the digital dollar is launched in the U.S., the same will happen to Americans. The digital dollar could become a burden for the U.S. Federal Reserve System as the central bank takes over the role of commercial banks and gains direct control over individuals' finances. The congressman insists that the Federal Reserve System already consid...

Peter Schiff, a well-known financial expert and gold investment advocate, has declared bitcoin a "dead cryptocurrency" despite it trading above $66,000. Peter Schiff is known for his bearish views on the cryptocurrency market. In his opinion, bitcoin has not long left to be "on top", but this time the investor compared the first cryptocurrency not with gold, but with silver. Peter Schiff noted that since April, the growth of bitcoin rate is 2%, and this is too "pale" compared to the growth of silver by 21%. The expert stated: such a low result of bitcoin is a sign of the imminent death of the cryptocurrency. Silver now has a market capitalization of $1.83 trillion, which is $500 billion more than bitcoin's market capitalization ($1.31 trillion). This means bitcoin would have to grow 40% to reach $93,000 and catch up with silver. In the comments, bitcoin supporters objected to Peter Schiff suggesting that he may be selectively using short-term data ...

The total market capitalization of gold today is about $13 trillion. The cryptocurrency market is valued at about $1 trillion. Bitcoin still lags far behind gold, but the progress is impressive. Today, lines of code can rival an asset with thousands of years of history. Some people even call bitcoin "the new gold." How correct is such a comparison? Let's find out. Similarities and differences Whether cryptocurrency can be called the new gold is debatable. There are some similarities between the two assets, but there are also some key differences. Similarities Both gold and cryptocurrency are scarce assets. There is a limited amount of gold and a limited amount of cryptocurrencies in the world (in the case of bitcoin, there can be a maximum of 21 million coins). Both are seen as a defense against inflation. When the value of paper currencies (such as the dollar) declines due to inflation, the value of gold and cryptocurrency increases. Both gold and cryptocur...

Hackers from the Pink Drainer group announced the termination of their activities due to the successful implementation of a plan to steal $85 million in cryptocurrency. The infrastructure used for the attacks will be destroyed, the group promised. Security experts at the MistTrack platform said that criminals are now actively moving stolen assets by converting to MakerDAO (DAI) tokens. Pink Drainer participants provided other criminals with tools to steal cryptocurrencies through social engineering and the distribution of phishing links. As payment, the developers received commissions and interest on the stolen assets. The representatives of the group emphasized that they do not intend to return the stolen funds and thanked the criminal community for their trust and respect. Cybercriminals believe that their departure will not change the situation for the better in terms of security in the market of digital assets, users will continue to believe fraudsters, investing in scam proje...

According to a report by analytics platform CoinGecko, in April, the average daily number of transactions per second on the Solana network peaked at 1,504 amid the popularity of memcoins. The researchers pointed out that Solana's network is 46 times faster than Ethereum, and 5 times faster than Polygon, which has the highest average daily number of transactions per second (TPS) among scaling solutions. The report emphasizes that Solana has so far only reached just over 1.6% of its possible maximum capacity of 65,000 TPS. In second place is the Sui network with an average daily number of 854 transactions, which was reached last summer. The relatively fast blockchains that do not support Ethereum virtual machine (EVM) include TON and Near Protocol. BNB Chain and Polygon are leading as the fastest EVM blockchains. According to CoinGecko, nearly all records for average daily transaction counts were set during 2023 and early 2024, driven by increased activity in the onchain driven ...

A joint study by researchers from Harvard Business School, Indiana University Business School and Texas A&M University found that the long-term investment value of tweets by popular crypto-influencers not only tends to zero, but can lead to a loss of funds. A team of experts from three institutions analyzed nearly 36,000 posts on the X network on behalf of 180 of the most popular and influential individuals in the crypto community. The study of posts was limited to a two-year period ending in December 2022 and covered more than 1,600 cryptocurrencies. Researchers have obtained compelling evidence that influencers advice about investing in cryptocurrency is, on average, unfavorable. This confirms the validity of regulators concerns that social media can mislead retail investors. People who represent a large share of the entire crypto market and for whom financial losses can be particularly devastating financially and socially. The future of cryptocurrency cannot be built on vira...

Many traders have noticed some correlation between the cryptocurrency and stock market. When there is a local crisis, it affects both industries, and during the period of active growth, both types of assets grow. Is there a direct correlation here? And if so, how strong is it? IMF economists have already answered this question. Correlation study According to the IMF study , there is some correlation between the cryptocurrency market and stocks. And it is growing over time. The correlation has grown especially strong between 2020 and 2021. This study included crypto assets such as BTC and ETH, as well as the S&P 500, Nasdaq, Russell 2000 and MSCI EM1 equity indices. Between January 2017 and December 2019, the volatility correlation between Bitcoin and the S&P 500 was 0.1, and between January 2020 and November 2021, it increased to 0.46. The return correlation also increased from 0.01 to 0.36. Similar changes in correlation were seen between Ethereum and the S&P 500. Con...