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Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and wealth seizure.” Balaji Srinivasan: Hyperinflation Is Here Venture capitalist Balaji Srinivasan believes that hyper inflation is happening now. Srinivasan is an angel investor, tech founder, and a Wall Street Journal bestselling author. He formerly served as the CTO of crypto exchange Coinbase and was a general partner at venture capital firm Andreessen Horowitz (A16z). Commenting on a tweet made by former Twitter CEO Jack Dorsey in October 2021 stating that hyperinflation will happen “soon” and will “change everything,” Srinivasan tweeted Friday, “Jack is right.” He emphasi...

A cryptocurrency investor who purchased Shiba Inu during its initial days revealed that he deeply regrets selling the token early. The investor had purchased $2,000 worth of SHIB in January 2021 a few weeks before it started to rally. SHIB was trading at $0.000000000077295 (10 zeroes) at that time but little did the investor know that the token would quickly delete six ‘zeroes’ within 10 months. Also Read: Shiba Inu: You Can Now Become a SHIB Millionaire With Only $10 An investment of $2,000 got the user to accumulate 25,874,894,883,239 (25 trillion tokens) at that time in January 2021. The investor revealed that when SHIB dropped in price the next few days after his purchase, he panicked and sold all the tokens for a loss. In his defense, SHIB was among the worst-performing cryptocurrencies in 2020 and the investor didn’t want to risk his money. Therefore, he was fearful and pulled out assuming, that his investment could tank and never recover. For context, SHIB’s price ...

Bitcoin (BTC), the original cryptocurrency, has surpassed the $27k mark for the first time since June 2022. The largest digital asset has made gains of up to 8.6% in the daily charts and 32.9% in the weekly charts. BREAKING: #Bitcoin surpasses $27,000 for the first time since June, 2022. — Watcher.Guru (@WatcherGuru) March 17, 2023 Over the last seven days, the overall market capitalization of cryptocurrencies increased by $217.83 billion, rising from $918.17 billion to $1.19 trillion. Now, Bitcoin’s latest rally comes amid a banking crisis that has gripped the United States. Three banks collapsed within the span of just a few days, sending shockwaves through the finance industry. It is possible that the crisis in the banking industry has pushed investors to pour their money into cryptocurrencies. There is a lot of uncertainty in the American banking sector, although authorities have assured customers that the industry is in a stable condition. BTC is currently facing r...

Mar 16, 2023 at 11:26 // Price Author Coin Idol This week cryptocurrencies and tokens are gaining popularity. The uptrend was attributed to Bitcoin, which rallied and tested the overriding resistance of $25,000. Similar to how cryptocurrencies are performing, they are exploring the limits of overhead resistance. We will discuss some of these alternative coins below. Stacks The price of Stacks (STX) will begin to rise when it crosses the 21-day line SMA. At the time of writing, the altcoin is selling for $1.09. To reach the recent high, the price of the...

In 2023, there have already been three significant bank failures in the banking industry. The current banking crisis has destabilized the whole financial sector. On March 15, when its largest shareholder, the Saudi National Bank, declined to give the company extra financial support, shares of Credit Suisse fell to a new record low. According to reports, Credit Suisse Bank has also asked the Swiss National Bank for a public display of support amid the upheaval. Also read: Ethereum-Based Uniswap Officially Launches on BNB Chain However, one key thing that should be noticed is that the prices of cryptocurrencies were on an uphill trend despite all the chaos. According to the latest data, the king of meme coins, Dogecoin , has surpassed Credit Suisse in market cap. Source: Forbes Dogecoin market cap is now higher than that of Credit Suisse According to CoinMarketCap data, the market cap of Dogecoin was $9.1 billion at press time. However, the latest data reveals t...

Ethereum last climbed above the $1,650 mark in November 2022 and struggled to reclaim the position for nearly five months. ETH blasted through $1,700 in the last two days jumping nearly 20% in the indices after close to 135 days. The second-biggest cryptocurrency in terms of market cap is looking to break its resistance of $1,800 and reach $2,000 in the next leg. However, will the current market rally sustain and push ETH above the $2,000 mark? Let’s find out! Also Read: Crypto Bank Anchorage Digital Lays-off 20% Employees Ethereum: Will The Latest Rally Sustain? Source: newsbtc.com Both Ethereum and Bitcoin reached their years highs, delivering decent returns to investors this month. The spike comes after two cryptocurrency-friendly banks Silicon Valley bank and Signature Bank’s closure. The development led to the depegging of various stablecoins but the sentiment improved after the 1:1 USD was repegged. ETH s rise could be attributed to the positive sentiments retur...

The New York-based fintech said it will provide an API to allow clients to access the new Federal Reserve real-time payment service when it premiers. Blockchain operator Tassat announced March 14 that it will provide access to the United States Federal Reserve’s FedNow payment system. FedNow, which will launch as a pilot project later this year, will provide real-time, round-the-clock payment service . Tassat will serve as a business-to-business onramp for FedNow through a client-facing application programming interface (API), CEO Kevin Greene told Cointelegraph. Both the company’s interbank and intrabank services will provide FedNow access. The FedNow pilot is expected to begin in June or July with a small number of banks. The system will offer real-time gross settlement by funneling commercial bank money from a sender through a Fed credit account to its recipient. It is often seen as a non-blockchain alternative to central bank digital currency (CBDC) and to stablecoin. FedNow w...

Coinbase has recently announced in one of their recent tweets that the exchange is planning to suspend the trading of Binance USD ( BUSD ). The exchange mentioned that trading will be suspended on March 13, 2023, at or around 12:00 p.m. EST. Also read: With Bitcoin (BTC) Exhibiting Double-Digit Gains, Could it Cross $27K? The exchange has kept its word and has officially disabled trading for USD at 12:00 PM ET. We have disabled trading for Binance USD ( BUSD ). Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/jfpCZX7UTC — Coinbase Assets (@CoinbaseAssets) March 13, 2023 Coinbase officially disables BUSD trading According to the tweet’s details, trading for basic and advanced trades, Coinbase Pro, exchange, and Prime will all be suspended on Coinbase.com. The exchange, however, stated that the BUSD funds will be available and can be withdrawn a...

According to FDIC Chairman Martin Gruenberg, US banks have over $620 billion in unrealized losses. Moreover, regarding the reality that the downfall of SVB was not directly an isolated incident in what could become an issue for several banks within the country Specifically, CNN noted that the collapse of Silicon Valley Bank brought to light the reality of a “widening gap between the value large lenders place on the bonds they hold and what they’re actually worth on the market.” JUST IN: 🇺🇸 US banks have over $620 billion in unrealized losses, FDIC says. — Watcher.Guru (@WatcherGuru) March 12, 2023 US Banks Maintain Plethora of Unrealized Losses The sudden and unexpected collapse of Silicon Valley Bank brought to life a new wave of concern regarding the financial sector. Specifically, investors experienced panic over what this could mean for the near future of the industry. Especially considering the SVBN Financial situation is t...

"Proposal(s) implementing the above changes are expected to be posted in the next ~12 hours or less," says Maker. According to a forum post from Maker DAO, issuer of the U.S. dollar-pegged DAI stablecoin, on Mar. 11, the firm requested an "urgent executive proposal to mitigate risks to the protocol." Maker said that it possessed multiple collaterals "exposed to USDC tail risk" in light of the extraordinary de-pegging of the USD Coin (USDC) stablecoin that began on Mar. 10.  Maker DAO currently possesses more than 3.1 billion USDC in collateral backing its DAI stablecoin.  Firstly, Maker proposes reducing the debt ceiling of UNIV2USDCETH-A, UNIV2DAIUSDC-A, GUNIV3DAIUSDC1-A, and GUNIV3DAIUSDC2-A liquidity provider collaterals to 0 DAI. Next, Maker wants to reduce daily minting limits of its USDC peg stability module from 950 million DAI to 250 million DAI and increase the fee from 0% to 1% to prevent "excessive dumping of USDC." Another stablec...

Covalent integrates with Arbitrum Nova to enhance its existing data offerings. Covalent is strengthening its position as the leading provider. Deep, granular, and historic blockchain data, this collaboration will provide Covalent’s community of developers and analysts with a fresh wave of accurate, timely endpoints to support innovation.  Covalent is heavily focusing on scaling the Gamefi ecosystem. Through groundbreaking partnerships with app chains and subnets such as Avalanche’s DeFi Kingdoms and Crabada. Covalent’s work with Nova will improve data availability for developers building the next generation of gaming with blockchain technology. Nova is purpose-built to accelerate the development of Web3 social applications allowing Covalent users to build and analyze data in this developing space. “Our mission is to support developers with unparalleled access to valuable data endpoints. Which, in turn, helps scale the entire Web3 ecosystem and boost mass adoption. Offering unique insi...

Bitcoin continued to trade lower on March 9, as prices fell to a fresh multi-week low in today’s session. The decline came as crypto bank Silvergate confirmed that it will be winding down operations. Ethereum also edged lower. Bitcoin Bitcoin (BTC) fell for a fourth straight session on Thursday, as markets reacted to news that Silvergate Bank will be liquidating its operations. Following a high of $22,198.90 on Wednesday, BTC/USD slipped to an intraday low of $21,609.99 earlier today. The decline in price pushed bitcoin to its lowest point since February 13, when it traded at a bottom of $21,366. BTC/USD – Daily Chart Looking at the chart, this latest sell-off coincided with the 14-day relative strength index (RSI) falling to its lowest point since November 28. As of writing, the index is tracking at 36.86, which is marginally below its support point at 37.00. Despite this, BTC remains above its own floor at $21,600, and should this zone hold steady, there is a cha...

An NFT generator powered by artificial intelligence was recently launched by crypto exchange Binance, with 10,000 mints in 2.5 hours. In this week’s newsletter, read about how Yuga Labs’ first Bitcoin-based nonfungible tokens (NFTs) earned $16.5 million in 24 hours , and how the Bitcoin NFT market can reach $4.5 billion by 2025. Check out how Binance’s artificial intelligence NFT generator got 10,000 mints 2.5 hours after its launch, and find out how the Flare blockchain got its own NFT marketplace. And don’t forget this week’s Nifty News, featuring Square Enix’s NFT-friendly CEO stepping down. Yuga Labs’ first Bitcoin NFT auction nets $16.5M in 24 hours In the first 24 hours of Yuga Labs’ NFT auction on Bitcoin Ordinals, the firm earned 735 Bitcoin (BTC) — around $16.5 million at the time — from its “TwelveFold” collection, with 288 bidders winning a piece of the Bitcoin NFT collection. According to Yuga Labs, the winners will receive their inscription within a week after the aucti...

Latam merchants will be slower in adopting cryptocurrency payments compared to merchants in other regions, according to the latest payments survey conducted by Ripple and the Faster Payments Council. The survey, which polled close to 300 payment leaders at a worldwide level, suggests that massive crypto adoption for payments will solidify in three years. Ripple Crypto Payments Study Shows Latam Will Lag Compared to Other Regions The latest crypto payments study conducted by Ripple and the Faster Payments Council, a U.S. membership-based organization, shows that Latam merchants will take more time to implement cryptocurrency-based solutions when compared to other regions. The paper, which seeks to understand and measure the impact that cryptocurrency will have on the payments arena in the future, shows that other regions will have the edge in the area even with Latam’s difficulties regarding inflation and fiat currency devaluation. Of the almost 300 payment institutions consulte...

Bitcoin has forever been under scrutiny for its proof-of-work consensus. The BTC mining process was considered to be an energy-consuming process, which was even debated as being harmful to the environment. It was also said to have a negative impact on energy resources. Even though several Bitcoin mining firms have turned to various renewable sources of energy, like hydropower and solar, the mining industry is still looked down upon. Now, according to the details from the recent press release, TeraWulf announces the launch of a 100% nuclear-powered Bitcoin mining facility in the US. Also read: Amazon is Reportedly Planning to Launch its NFT Marketplace Next Month JUST IN: 🇺🇸 100% nuclear-powered #Bitcoin mining facility launches in Pennsylvania . — Watcher.Guru (@WatcherGuru) March 6, 2023 Pennsylvania is home to first behind-the-meter BTC mining facility powered by nuclear energy Owner and operator of domestic Bitcoin mining facilities powered by ...

Economist and gold enthusiast Peter Schiff has said that the U.S. Fed may have to fight a “complete economic collapse” and be faced with more to worry about than the current battle against inflation. In other news, artificial intelligence (AI) crypto assets have seen a recent surge, and SEC Chairman Gary Gensler has tossed in his two cents about why he views all crypto tokens other than bitcoin as securities. This and more, are just below in the latest Bitcoin.com News Week in Review. Economist Peter Schiff Warns the Fed Could Be Fighting ‘Complete Economic Collapse’ Economist Peter Schiff has predicted that the U.S. Federal Reserve will ultimately throw in the towel on its inflation fight to confront “something it fears even more, which is a complete economic collapse, another financial crisis, or a sovereign debt crisis.” He stressed, “The months of declining inflation are in the review mirror,” emphasizing that now “we’re going to see accelerating inflation...

Join Our Telegram channel to stay up to date on breaking news coverage What will be the future of APT’s price amidst the tensions between Aptos and Sui? The recent disinvitation of Sui representatives from Aptos’ MoveCon conference highlights the competition between the two blockchain startups, both of which use the Move language that originated from Facebook’s Diem stablecoin project. In this Analysis , we’ll examine APT’s current price and indicators to determine its potential future direction. Hey @Aptos_Network, I’m disappointed to learn that you pressured @PontemNetwork into removing @tnowacki + @damirka + Shayan Sanjideh as speakers at https://t.co/OBoVoDglEI, as well eliminating Sui Foundation from the organizations participating in this community-organized event. pic.twitter.com/MxUnvr6URS — Sam Blackshear (@b1ackd0g) February 28, 2023 From today to Sunday, Pontem—a crypto wallet startup backed by the Aptos Foundation...