Former Department of Homeland Security official Christopher Krebs called for greater governmental oversight of cryptocurrency in an interview yesterday, saying that anonymous payments are a threat “the average American is concerned about.”
Bitcoin (BTC) hit $60,000 for the first time on March 13 as the long-awaited continuation of the BTC price bull run got underway. BTC records another landmark price level Data from Cointelegraph Markets and Tradingview tracked BTC/USD as the pair finally crossed the historic level after several weeks of mild corrections and periods of consolidation. Bulls had spent a considerable time in limbo as Bitcoin tested prior all-time highs at $58,350 repeatedly, with a significant resistance zone beneath slowing progress. In the end, however, optimism won out, and the largest cryptocurrency by market capitalization clinched its latest milestone. At press time, price action focused on an area just below $60,000 amid characteristic volatility. As Bitcoin price inched its way closer to the previous all-time high, analysts at Whalemap observed some interesting on-chain activity taking place.
Ethereum’s developers appear to be hastening the network’s shift toward Proof-of-Stake consensus and away from the Proof-of-Work mining community. On March 11, developer “Mikhail Kalinin” published specifications for Eth2’s future blockchain merge with the existing Ethereum network. The documentation notes the consensus upgrade from PoS to PoW will be the core change enacted.
As the profusion of new algorithmically-generated nonfungible token projects drives down the premium on digital rarity, digital history and being among the “firsts” has become a more reliable source of value. As a result, long-forgotten projects are being unearthed by on-chain sleuths, and yesterday they might have struck gold on their biggest find yet.
According to a report yesterday from the Miami Herald, cryptocurrency exchange FTX is preparing to finalize a deal to sponsor the home of National Basketball Association team the Miami Heat — a move that will grant the exchange exclusive naming rights for the 19,600 arena. “Miami-Dade County is getting closer to signing a cryptocurrency company to replace American Airlines as the naming-rights sponsor of the Miami Heat’s downtown arena, according to several sources — a deal that would deliver the NBA its first venue tied to bitcoin and other electronic currencies,” reads the report.