Bankoff, a platform offering virtual cards that could be topped up with cryptocurrency, has told customers its cards are no longer supported by payment systems Visa and Stripe. They allowed Russians to pay abroad after major processors restricted their services in the country.
On Wednesday, May 4, California Gov. Gavin Newsom issued a new executive order on cryptocurrencies. This is quite exciting news considering that California is the state with the largest economy in the U.S. Thus, it could encourage governors of other states to make a similar move.
The Italian high-end fashion label Gucci has announced it will begin accepting cryptocurrency payments by the end of the month in five of its United States stores, with plans to extend the service to all of its 111 stores in North America.
One of the hottest topics in the blockchain industry is decentralized finance (DeFi). Ethereum blockchain hosts most DeFi projects today because it is the largest blockchain network that supports smart contracts.
Due to the influx of these DeFi projects on Ethereum, transaction fees became high, and scalability became a problem. However, Solana aims to solve the scalability issues that Ethereum couldn’t solve.
On Wednesday, May 4, the U.S. Federal Reserve announced an interest rate hike by 50 basis points in order to control the soaring inflation. The announcement was quite on the expected lines and the U.S. equity market as well as the crypto market rallied soon after.
Considering the present-day conditions, do NFTs possess inherent market efficiency as long-term investments by comparison with virtual currencies similar to cryptocurrencies? Let’s figure it out.
Crypto markets have been volatile in the run-up to Wednesday’s Fed meeting where a 50 bps (basis points) hike is expected. The Bitcoin correlation to tech remains near all-time highs, and its outlook in the near term will likely follow that of the NASDAQ.
A new crypto litigation tracker from commercial law firm Morrison Cohen LLP shows details of more than 300 active and settled court cases since 2013.