Speakers prepare to tell US House Financial Services Committee about stablecoins

[ad_1] The United States House of Representatives Committee on Financial Services will hold a hearing on stablecoin regulation on April 19. The hearing follows the announcement of a new draft bill in the House to provide a framework for stablecoins regulation. Some of the speakers invited have released advance transcripts of their planned testimony.Stablecoins “look a lot like pretty basic cash instruments. […] Stablecoins are actually mundane,” Austin Campbell, a

Zipmex requests 2-month extension from Singapore court for restructuring plan

[ad_1] Cryptocurrency exchange Zipmex has requested another extension which would allow for a longer moratorium on its debt in Singapore amid the firm’s liquidity issues.In an April 18 announcement, Zipmex said it was currently in negotiations with investors in an attempt to “maximize returns for customers” following a delay in payments. The firm said its Asia arm had filed a request in Singapore’s courts to extend its existing moratorium period

Tribe Capital considers reviving bankrupt crypto exchange FTX: Report

[ad_1] Tribe Capital, the San Francisco-based venture capital firm that previously invested in FTX before its collapse, is exploring the possibility of injecting new capital to revive the bankrupt cryptocurrency exchange, Bloomberg reported on April 18.The venture capital firm is reportedly contemplating leading a $250 million fundraising campaign, anchored by $100 million from itself and its limited partners. According to Bloomberg, sources familiar with the matter say that Tribe co-founder,

SafeMoon hacker agrees to return 80% of stolen funds, says development team

[ad_1] The attacker who drained $8.9 million of Binance Coin (BNB) from SafeMoon has agreed to return 80% of the funds, according to an April 18 blockchain message from the SafeMoon team.Breaking News: #SafeMoon has struck a deal with the “hacker”80% LP return imminent. 20% bounty for “hacker”And no charges pressedNow, back to your regularly scheduled program.— SafeMoonSpidey.sfm ⎷ (@SafeMoonSpidey) April 18, 2023 SafeMoon is a decentralized finance (DeFi)

US wholesale CBDC has ‘promise,’ Fed governor says, but retail ‘difficult to imagine’

[ad_1] United States Federal Reserve Board governor Michelle Bowman spoke at Georgetown University on April 18 to “offer a perspective” on central bank digital currency (CBDC). The Fed plays an important role in the conversation about CBDC, Bowman said. Her examination of the problems a CBDC might solve and the design and policy issues it entails showed little enthusiasm.Bowman expressed doubt about the need for a CBDC to improve the

Intel will stop manufacturing chips for Bitcoin miners: Report

[ad_1] Major United States-based technology company Intel has reportedly announced plans to discontinue its line of Blockscale Bitcoin mining chips as part of efforts to cut costs.According to an April 18 Reuters report, the semiconductor chip manufacturing company will stop taking orders for the Blockscale 1000 Series ASICs by Oct. 20 and end shipping roughly in April 2024. Intel reportedly said the move was aimed at a strategy of prioritizing

Kraken receives virtual asset service provider authorization in Ireland ahead of MiCA vote

[ad_1] Payward Europe Solutions, an Irish subsidiary of Kraken registered in Dublin, was awarded virtual asset service provider (VASP) authorization from the Central Bank of Ireland on April 18. We’re pleased to announce that Kraken has successfully registered with the Central Bank of Ireland (CBI) as a Virtual Asset Service Provider (VASP), affirming our commitment to helping drive crypto adoption in Europe Learn more— Kraken Exchange (@krakenfx) April

Bitcoin retracing? Here are the odds of it returning to $28K

[ad_1] In today’s Market Report episode, analyst and writer Marcel Pechman covers the regulatory environment that has been limiting Bitcoin’s (BTC) upside and the odds of a dump at $28,000. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel.The first news article discussed is crypto exchange Bittrex and its founder being charged by the SEC. More importantly, United States Securities and Exchange Commission Enforcement Division Director Gurbir

Bitcoin price struggles to hold above $30K amid regulatory uncertainty

[ad_1] Bitcoin (BTC) price reclaimed the $30,000 support on April 18 after briefly testing $29,130 on the previous day. However, traders question whether the recovery is sustainable given the increased regulatory scrutiny, especially in the United States. Bitcoin price in USD, 4-hour. Source: TradingViewRostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC), said on April 14 that Binance intentionally broke U.S. rules concerning futures and commodities trading. For example,

Microsoft is developing its own AI chip to power ChatGPT: Report

[ad_1] Microsoft has secretly been developing its own artificial intelligence (AI) chips to deal with the rising costs of development for in-house and OpenAI projects, per a report from The Information. Reportedly in the works since 2019, Microsoft’s recently revealed hardware venture appears to be designed to reduce the Redmond company’s reliance on Nvidia’s GPUs.SCOOP: Microsoft has been developing an AI chip in-house since 2019, codenamed Athena. Msft hopes the chip