Cryptocurrencies like Bitcoin (BTC) could potentially find some mutually beneficial interactions with central bank digital currencies (CBDCs), according to one industry executive. While crypto is often associated with financial freedom, the concept of CBDC is frequently seen as the exact opposite. But this doesn’t mean that there cannot be a balance between the two, according to Itai Avneri, chief operating officer and deputy CEO at the crypto trading platform INX. CBDCs and regulated cryptocurrencies could potentially complement each other in the future as the two types of digital currencies have their own benefits, Avneri said in an interview with Cointelegraph …

Crypto Twitter has seemingly taken issue with Sam Bankman-Fried’s $250 million bail bond, allowing him to spend Christmas in his parent’s Palo Alto home without paying a single dime upfront. The former FTX CEO arrived in New York from the Bahamas on Dec. 21 and appeared in court on Dec. 22 where he was released on bail via a “personal recognizance bond” — essentially a written promise from the defendant that they will show up for future court appearances and not engage in any illegal activity while out on bail. According to the release agreement filed on Dec. 22, no …

A U.S. bankruptcy court has granted Bitcoin (BTC) miner Core Scientific interim approval to access a $37.5 million loan from existing creditors to fund the firm amid its liquidity issues. Core Scientific is one of the largest cryptocurrency mining companies in the United States, but filed for Chapter 11 bankruptcy on Dec. 21 as a result of rising energy costs, declining revenue and the price of BTC in 2022. In a public statement made on that same day, Core Scientific outlined that it intends to “move swiftly through the restructuring process” and maintain its self-mining and hosting operations. The loan …

Cryptocurrencies are often dismissed as vehicles for speculation — an asset class that lacks intrinsic value. But this is a naive, underdeveloped, and misinformed argument, especially when you consider how digital assets are being used as a modern tool for financial education. Jay-Z and Jack Dorsey recently teamed up to launch "The Bitcoin Academy," with dedicated classes for children aged 5 to 17. All of this is very exciting, and it's only the beginning. There are big opportunities for crypto to revamp financial education in the world's classrooms — and compelling applications that extend far beyond telling youngsters who Satoshi …

Bitcoin (BTC) fell at the Dec. 22 Wall Street open as United States equities reversed previous gains. Bitcoin risks new and unseen "death cross Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to intraday lows of $16,650 on Bitstamp. The pair remained a conspicuous stocks copycat as the S&P 500 opened down 1.6% and the Nasdaq Composite Index traded down 1.8% at the time of writing. The weakness appeared to be a reaction to stronger-than-expected U.S. gross domestic product (GDP) growth in Q3, data for which was released prior to the open. Despite notionally a sign of recovery, …

It has been a tumultuous year for the crypto investors who have witnessed the total crypto market capitalization tumble from about $2.2 trillion at the beginning of 2022 to about $850 billion in December. The sharp erosion in valuation was caused due to several high-profile bankruptcies in 2022. The entire Terra ecosystem imploded with the collapse of its LUNA token and TerraUSD (UST) stablecoin. The failure of Three Arrows Capital followed this black swan event, and the final blow came as FTX underwent a bank run and imploded. These back-to-back events triggered a liquidity and credit crunch and appear to …

As Bitcoin (BTC) adoption continues to sow seeds around the world, more and more people are choosing to accept the original cryptocurrency as payment for their goods and services. For individuals, that means accepting BTC as their salary. A Florida-based Bitcoin advocate called SVN (not his real name) took his entire salary in BTC for the past year. Cointelegraph reached out to him to understand why he did it and if there are certain advantages to earning the world’s most recognizable cryptocurrency. SVN explained that when the bank froze one of his accounts, he turned “to Bitcoin as a solution …

A state-owned electric utility provider in the Canadian province of British Columbia is set to halt all new electricity-connection requests from cryptocurrency miners for a period of 18 months. The British Columbia government made the announcement in a statement on Dec. 21 stating that the pause will allow the government and BC Hydro to develop a permanent framework that can better balance the needs of crypto miners and both its residents and businesses in the region. Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation said that the move was made to preserve the clean energy it provides for …

The California Department of Financial Protection and Innovation (DFPI) has ordered crypto lending platform MyConstant to cease offering a number of its crypto-related products over alleged state securities law violations. The DFPI stated in a press release on Dec. 21 that it has ordered MyConstant to “desist and refrain” from offering its peer-to-peer loan brokering service and interest-bearing crypto asset accounts, which it says are in violation of the California Securities Law and California Consumer Financial Protection Law. The DPFI alleged that MyConstant’s offering and selling of its peer-to-peer lending service called “Loan Matching Service” violates one of the state’s …

Twitter has added a new crypto feature that enables Twitter users to search the price of Bitcoin (BTC) and Ether (ETH) simply by typing “Bitcoin” or “Ethereum” into the search tab. The Elon Musk-led social media platform didn’t announce the new feature to the public. However, the Documenting Bitcoin account was one of the first to highlight the update, and shared a screenshot of the new price index feature to its 853,700 Twitter followers on Dec. 21. Twitter now shows the #bitcoin price! pic.twitter.com/GWg6i3Ibkb — Documenting Bitcoin (@DocumentingBTC) December 21, 2022 Upon searching crypto token names on Twitter, Ether’s price …

As the year comes to an end, investors will be keenly watching for a Santa Claus rally on Wall Street as many believe that if the rally does not happen, the next year may either remain flat or turn negative. Jurrien Timmer, director of global macro at asset management giant Fidelity Investments, tweeted on Dec. 19 that the United States equities markets may remain “sideways” and choppy in 2023. He expects “one or more retests of the 2022 low, but not necessarily much worse than that.” The cryptocurrency market has been largely correlated with the S&P 500 in 2022. Unless …

Bitcoin (BTC) price lost 11.3% between Dec. 14 and Dec. 18 after briefly testing the $18,300 resistance. The move followed a 7-day correction of 8% in the S&P500 futures after the U.S. Federal Reserve chair Jerome Powell issued hawkish statements after raising the interest rate on Dec. 14. Bitcoin price retreats to channel support Macroeconomic trends have been the main driver of recent movements. For instance, the latest bounce from the 5-week-long ascending channel support at $16,400 has been attributed to the Central Bank of Japan's efforts to contain inflation. The Bank of Japan increased the limit on government bond …