ForUsAll, a 401(k) retirement provider, filed suit against the United States Department of Labor (DOL) and Martin Walsh as Labor secretary in U.S. District Court in Washington, D.C. on Thursday. The company is seeking the withdrawal of a DOL compliance assistance release issued in March, citing the Administrative Procedure Act, which safeguards against arbitrary official
Month: June 2022
Solana’s (SOL) price dropped on June 3, bringing its net paper losses down to 85% seven months after topping out above $260. SOL price fell by more than 6.5% intraday to $35.68, after failing to rebound with conviction from 10-month lows. Now sitting on a historically significant support level, the SOL/USD pair could see an
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Fed money printer goes into reverse: What does it mean
Summary: Vitalik Buterin opposes the banning of Proof-of-Work mining operations by governments. According to Vitalik, governments picking and choosing which specific applications should use electricity or not is a bad idea. He proposes the implementation of carbon pricing as an alternative solution to banning PoW mining. Vitalik was commenting on the news that the State
Bitcoin (BTC) stayed wedged in a tight range on June 4 as traders’ demands for a new macro low persisted. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Long-term holders begin ‘distribution’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD stuck between $29,000 and $30,000 into the weekend. The pair had managed a revival to near
In discussion with the International Monetary Fund (IMF), T Rabi Sankar, the deputy governor of the Reserve Bank of India (RBI), reflected an anti-crypto stance as he spoke about India’s potential to disrupt the crypto and blockchain ecosystem. Rabi Sankar started the conversation by highlighting the success of the Unified Payments Interface (UPI), India’s in-house
Terra remained the focus of the majority of headlines throughout May for its spiral collapse leading to a loss of over $40 billion in investors’ money. Despite some early resistance from the community and heavy backlash from the likes of Binance CEO Changpeng “CZ” Zhao, Terra co-founder Do Kwon managed to relaunch the collapsed network
Bitcoin (BTC) investment vehicles are seeing “gargantuan” inflows this month, which is a fresh sign that traders’ appetite for BTC exposure is mounting. Data from monitoring firm Arcane Research published this week shows that Bitcoin exchange-traded products (ETPs) now have record high BTC under management. “Happier days” for Bitcoin ETPs as buyers pile in Despite
The Central African Republic (CAR) has announced plans to proceed with its ambitious Sango Project by tokenizing access to the country’s abundant natural resources. President Faustin-Archange Touadéra posted a photograph of a statement on his official Twitter account Thursday detailing the next steps in the project. The statement, signed by Minister of State and cabinet
Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks. Rostec Employs Distributed Ledger Technology to Substitute SWIFT Russian state-owned corporation Rostec has built a
On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions. As reported by local news outlet Money Today Co., the FSS had
The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value of the United States dollar. For years, crypto traders have referred to Bitcoin (BTC) as “digital gold,” but is it actually
Cryptocurrency bear markets destroy portfolio value and they have a dangerous tendency to drag on for longer than anyone expects. Fortunately, one of the silver linings of a market-wide pullbacks is that it gives investors time to re-focus and spend time researching projects that could thrive when the trend turns bullish again. Here’s a five areas
Regulation is needed to open the crypto ecosystem to a larger public, United States Federal Reserve Board Governor Christopher Waller told an audience at the SNB-CIF Conference on Cryptoassets and Financial Innovation in Zurich, Switzerland. Financial intermediaries can help manage risk for new crypto users, but cannot eliminate it, Waller said, and new and fast-growing
The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging. To date, the total crypto market is down 43% in just
The end of the first week in June brought more pain to global financial markets as the tech-heavy Nasdaq composite closed the day on June 3 down 2.3%, while the S&P 500 shed 1.4% of its value. The cryptocurrency market hasn’t faired any better and data from Cointelegraph Markets Pro and TradingView shows that an
