Layer 2 scaling solution Optimism is set to undergo its highly anticipated Bedrock upgrade on June 6. The move is expected to result in significantly reduced transaction fees, provide greater network security and enhanced compatibility with Ethereum. The Optimism team stated via a May 15 Twitter thread that the network would be down for two
According to statistics from mid-May 2023, 18 different application-specific integrated circuit (ASIC) bitcoin mining devices are profitable using today’s bitcoin exchange rates. Additionally, the top bitcoin mining machines today are made by three prominent ASIC manufacturers, as fabrication competition these days is limited. 18 ASICs Profit With Electricity Costs at $0.12 per kWh and Today’s
Apple is scheduled to release its highly-anticipated mixed-reality headset in the coming weeks, a development that some believe could breathe fresh life into the metaverse industry. In January, the native tokens of blockchain-based metaverse projects Decentraland (MANA) and Sandbox (SAND) witnessed significant surges in price, due partly to swirling rumors about Apple’s venture into mixed
The race is on to bring the technology behind ChatGPT to the smartphone in your pocket. And to judge from the surprising speed at which the technology is advancing, the latest moves in AI could transform mobile communications and computing far faster than seemed likely just months ago. As tech companies rush to embed generative
After conducting series of deep-dives in housing markets such as in Seattle, Denver, and Phoenix, for example, a general trend seems to be emerging. Major housing markets, like the three mentioned, and for this study — Las Vegas — all experienced supercharged housing activity from 2021 until mid-2022 and has since been cooling off a
The writer, an FT contributing editor, is chief executive of the Royal Society of Arts Last month, I discussed the negative feedback loop between stalling economic growth and expanding safety nets. How do countries break free from this “doom loop”? One important element is to rethink the fiscal rules shaping government investment decisions. The idea of
Call it the Abe Simpson principle. The cartoon patriarch, upon being told by his son Homer that he wasn’t “with it”, responded: “I used to be with it, but then they changed what it was. Now what I’m with isn’t it, and what’s it seems weird and scary to me.” Then he warned his son:
When more than 1,000 demonstrators marched through the streets of Amsterdam in early February, they directed their ire at something that does not even exist: the digital euro. The protesters voiced a kaleidoscopic array of objections to the European Central Bank’s plan to issue an electronic version of the continent’s single currency. Some feared the
Three High Court judges invested in controversial tax avoidance schemes that were challenged by HM Revenue & Customs, including one judge who has ruled on tax avoidance cases, raising questions about the UK’s lax approach to disclosure of judicial interests. The investments by Justices Joanna Smith, Simon Bryan and Martin Griffiths were first made about
It appears that embattled crypto lender Celsius is wasting no time in shifting its Ethereum staking tokens from liquid staking platform Lido which has just enabled withdrawals. On May 15, a transaction was identified on Celsius wallets for 428,015 stETH (Lido staked Ether) to the Lido staked Ethereum wallet. The whopping stash was worth $781
Bitcoin is on a roll in 2023, breaking records left and right. For instance, on May 2, at block height 787,895, the cryptocurrency’s hashrate soared to 491 exahash per second (EH/s). Moreover, on April 20, at block height 786,240, the difficulty hit a new high of 48.71 trillion. But that’s not the only thing that’s
U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” known as the “ACES Act,” for discussion in the Senate. The piece of legislation seeks to examine the level of adoption of bitcoin as a legal tender in El Salvador and how this might affect the financial stability
5/16/2023, 12:23:12 AM Kyiv rocked by explosions as Russian air strikes intensify Roman Olearchyk in Kyiv Ukraine’s capital of Kyiv was rocked by more than a dozen explosions around 3am on Tuesday, about a half-hour after air raid sirens went off nationwide warning that Russia’s invading forces were resuming air strikes on the country. Financial
One in seven UK adults will be paying income tax at 40 per cent by 2027-28 because of a six-year freeze on the threshold at which the higher rate kicks in, according to an influential think-tank. The Institute for Fiscal Studies said on Tuesday that by its end, the freeze on tax thresholds and allowances
The UK’s policing minister has pushed for facial recognition to be rolled out across police forces nationally in a move that would ignore critics who claim the technology is inaccurate and some of its applications illegal. According to a report to be submitted to parliament on Tuesday, the Home Office briefed the biometrics and surveillance
In a recent interview, the renowned investor Paul Tudor Jones expressed his perspective on bitcoin, acknowledging that there might be regulatory challenges ahead. However, Jones emphasized his unwavering commitment to the dominant cryptocurrency, affirming that he maintains “a small diversification” in his investment portfolio and always will. Paul Tudor Jones on Bitcoin: ‘I’m Sticking With
Downing Street on Monday refused to say when Prime Minister Rishi Sunak would meet a Tory pledge to cut net migration, as high inflows of foreign workers, health staff and students drive numbers towards a record high. Suella Braverman, home secretary, insisted at a conference in London that the government must honour its 2019 manifesto
The Lido liquid staking protocol has enabled Ether withdrawals for the first time, according to May 15 data from Parsec Finance. Over 260 Lido Staked Ether (stETH) was redeemed for its underlying Ether (ETH) in the first three hours, worth about $500,000. stETH withdrawals dashboard:– individual & aggregate withdrawal requests.– current withdrawal queue.– stETH large balance
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Midway through May and bitcoin has mostly fallen lower, as markets digested several key pieces of economic data. The headline was another rate hike by the Federal Reserve, which came as U.S. non-farm payrolls rose marginally higher than expected. Heading into the last fortnight of the month, could bulls be on the brink of returning?
Bitcoin’s price broke below its 55-day resistance at $27,000 on May 12, down 12.3% in 30 days. But more importantly, it decoupled from the S&P 500 Index, which is basically flat from 30 days ago and 15% below its all-time high. As the chart indicates, for some reason, Bitcoin (BTC) investors believe that the favorable macroeconomic