Features News Official TheBitTimes.com

Join Our Telegram channel to stay up to date on breaking news coverage Vicky Saporta, the executive director of the Prudential Policy Directorate at the Bank of England, announced during a speech that the Prudential Regulatory Authority (PRA), the UK’s bank regulator, plans to propose new rules on issuing and holding crypto assets.  The U.K. Prudential Regulatory Authority is likely to have more to do if the FSM bill passes. https://t.co/9VILGp8Lbf — Cointelegraph (@Cointelegraph) February 27, 2023 According to the speech, the Bank of England and the PRA are working in collaboration with 6 other regulators to create a regulatory grid that will centralize its initiatives. The team is working to provide a new set of rules which it believes will be easier to understand and follow than the existing web of rules, which they hope to replace. Among the laws they are hoping to replace are those set by the European Union (E.U.) considering the U.K. withdrew from the...

Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy’s value. Majority of Listed AI Cryptocurrencies See Positive Gains Over Last Month Artificial intelligence (AI) has been a dominant theme in 2023, resulting in a significant surge in the value of AI-focused tokens this year. Bitcoin.com News reported on the rise of these cryptocurrencies at the end of January, and despite a brief pullback in mid-February, AI crypto assets have continued to see gains throughout the month. According to data from cryptoslate.com, 74 AI-centric digital currencies are now worth $4.03 billion, accounting for 0.37% of the overall crypto market and 1.19% of the smart contract token market. Moreover, the majority of the 74 listed crypto...

The Canadian rapper and singer Drake lost $400,000 in bitcoin after betting that the YouTuber-turned-boxer Jake Paul would beat Tommy Fury by knockout. Drake could have potentially raked in a $1.44 million bitcoin payout, but Fury won the fight in a split-decision victory. Drake Loses $400K Bitcoin Bet on Jake Paul’s Bout On Feb. 26, 2023, in Diriyah, Saudi Arabia, YouTuber-turned-boxer Jake Paul’s winning streak was stopped by Tommy Fury, the half-brother of Mike Tyson. The fight was a close bout, with Fury winning by split decision (74-75, 76-73, 76-73), despite Paul knocking Fury down in the eighth round. Paul had six straight wins under his belt before losing to Fury on Sunday. Before the fight, the rap star and actor Drake placed a $400,000 bitcoin wager, or roughly 17 BTC, on Paul winning the fight by knockout (KO). Drake took to Instagram and showed off his bet, which was placed on the crypto betting platform Stake. “Knock knock,” Drake said, with ...

The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has fallen by 2.24% over the last 24 hours. During that same timeframe, the top smart contract token economy lost 3.7% against the U.S. dollar. Smart Contract Token Economy and Value Locked in Defi Dip Cryptocurrency prices are down this weekend, affecting the values of smart contract tokens and the total value locked in defi. At the time of writing, the smart contract token economy is valued at $326.11 billion, but has dropped 3.7% during the last day. Over the last week, ethereum (ETH) has lost 5.6% against the greenback, and polygon (MATIC) has dropped 17.6% in value. Currently, the TVL in defi today is $49.8 billion, with 18.03% of that value residing in the Lido liquid staking protocol. The value locked in Lido today is around $8.75 billion...

Join Our Telegram channel to stay up to date on breaking news coverage Polygon is down in the market today, trading at $1.35 . This amount represents a reduction from yesterday’s high of $1.42 but slightly above the low of $1.34. MATIC is still off its all-time high value of $2.92, although its steady increase in 2023 has impressed its followers. It tested the $1 price level for the first time on January 16, 2023, before dropping below it. However, it has remained below $2, suggesting significant bearish pressure at this price level.  Network Trends On Polygon Network That Could Influence The Price Movement Most crypto projects benefit from developmental activities, positive news, and a thriving community. Matic Network operates on the proof-of-stake network, which requires active participation from stakers. Here are some notable trends on the network that could affect the asset’s price. Polygon Gets Support From Arkham Arkham will now provide polygon users...

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has warned that U.S. crypto regulation is “getting very, very aggressive.” Noting that regulators are now “regulating by enforcement, penalties, and massive fines,” O’Leary emphasized the importance of staying out of the way of the SEC, Chair Gary Gensler, and other regulators. Kevin O’Leary Shares Outlook for Crypto Regulation Shark Tank star Kevin O’Leary has shared his outlook for the crypto industry following several enforcement actions by the U.S. Securities and Exchange Commission (SEC). Mr. Wonderful tweeted Monday: Venture funding for new crypto projects is virtually dead and aftermarket trading for existing projects is at massive discounts. Reason? The regulator is now regulating by enforcement, penalties, and massive fines. “The venture community has moved on to the next ‘big’ thing, AI,” he added. O’Leary explained in an interview with Trader TV...

The plan to expand its workforce comes just months after it mutually called off its plans to go public via a SPAC merger. USD Coin (USDC) issuer Circle plans to increase its workforce by 15-25% in 2023 amid a sea of layoffs across the industry, reported the Wall Street Journal. At a time when a significant chunk of industry-wide firms is laying off staff to mitigate their financial woes, Circle has gone against the tide to hire more people.   41% of all layoffs in 2023 came from the cryptocurrency industry. Major cryptocurrency firms that made significant employee cuts include Polygon, Chainalysis, Bittrex, Huobi, Crypto.com, Coinbase, Gemini, Genesis, and Wyre. A major factor behind crypto companies reducing manpower was attributed to the prolonged crypto winter and a number of crypto implosions that wiped out billions from the balance sheets of numerous companies associated with them. However, the large-scale crypto industry layoffs were not in isolation. Around 48,000 people in...

A new project aims to use the Internet of Things to let smartphone users establish nodes, providing connectivity to IoT smart devices. Smartphones could become an integral part of blockchain networks, powering connect ivity between smart devices in the Internet of Things (IoT) industry. Nodle is the firm behind a connectivity platform that incentivizes users to become nodes of an IoT network. Making use of the increasing proliferation of smartphones worldwide, the network uses Bluetooth connectivity to rent computing power, storage and Bluetooth capability of devices to broaden the footprint of IoT networks. Nodle CEO Micha Anthenor Benoliel outlined details of the project in an interview with Cointelegraph, which looks to tap into a global network of electronic devices connected through Bluetooth Low Energy communication. Leveraging the ability to communicate with smartphones through this connectivity, Nodle’s network taps into a worldwide pool of devices and computing power witho...

On Monday, crypto proponent Udi Wertheimer shared a story on Twitter explaining how he and the Taproot Wizards helped an artist who created the original 2013 bitcoin wizard meme raise nearly $150,000 in bitcoin. While the minting and sale were successful, Wertheimer explained that bitcoin maximalists and the r/bitcoin moderator Bashco disliked it. Artist Who Created the 2013 Bitcoin Wizard Meme Raises $150K in Bitcoin With more than 150,000 Ordinal inscriptions on the Bitcoin blockchain, there’s no denying that people appreciate the concept, and demand for the technology continues. This week, Taproot Wizard and crypto advocate Udi Wertheimer told a story about how the creator of the original bitcoin wizard meme raised 6 BTC, or close to $150,000. Wertheimer explained how this past Saturday, he and the Taproot Wizards helped the meme’s creator, Mavensbot, issue and sell a collection of ordinal inscriptions to celebrate the 10th anniversary of his artwork. “The pro...

Join Our Telegram channel to stay up to date on breaking news coverage Bulls have been in luck recently, with Stacks price closing on $1.00. Suddenly investors are paying attention to this token, functioning as Bitcoin’s layer for smart contracts. Stacks allows smart contracts as well as decentralized applications to trustlessly tap BTC as the main asset. Stacks price was late to the bullish party at the beginning of the year and only started to rise toward the end of January. However, February has been the month for STX bulls to show their strength. In just 30 days, Stacks price has grown by 158% to trade marginally above $0.70 at the time of writing. STX price may have bottomed in early November, in the wake of the implosion of FTX exchange. As the market bled, Stacks slowed down, settling in a massive support range between $0.20 and $0.30. Stacks three-month chart Stacks price consolidated the losses in that range even as crypto assets jolted to the upside in late De...

The VeChain Foundation has orchestrated some tremendously exciting developments to start 2023. Among those is the launch of a fully decentralized crypto wallet that is the perfect starting point for many in the digital asset sector. Now, let’s discuss how to download the VeChain VeWorld Wallet. It’s important to know that the VeChain VeWorld Wallet is a fully decentralized self-custody wallet from the VeChain ecosystem. The wallet allows its users to fulfill a host of crypto-related actions while utilizing a Ledger hardware device. Moreover, YouTuber VetMaik has brought forth a comprehensive video guide you can observe below Download the Chrome Extension The first step in downloading the VeChain VeWorld Wallet is through the downloading f a specified Google Chrome extension. Firstly, users will have to open Google Chrome and visit VeWorld.net, the VeChain dedicated home to access the VeWorld wallet. Source: VetMaik From there, you will find a button urging...