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The State of Bitcoin Development in 2023
Last month, Bitcoin developer James O'Beirne sounded the alarm: the dominant blockchain might lose some very talented contributors if someone doesn’t step up to pay them for their work. CoinDesk's Editor at Large, Christie Harkin, discusses the latest developments.
Bitcoin Slumps Amid Lingering Inflation Concerns
Bitcoin (BTC) briefly dipped below $23,000 as the PCE Price Index for January unexpectedly rose to 5.4%. CoinDesk Managing Editor of Tech and Protocols Brad Keoun weighs in on bitcoin's price action amid looming inflation worries. Plus, his outlook on the Federal Reserve's rate hike cycle and its impact on the largest token by market capitalization.
Fed’s Preferred Inflation Gauge Runs Hot; Outlook for Bitcoin Futures on CME
The January PCE Price Index – the Fed's favored inflation indicator – unexpectedly rose to 5.4%. Separately, three-month bitcoin futures listed on the CME, which is widely considered a proxy for institutional activity, are trading at an annualized premium of around 8.7% to the underlying reference index. The equivalent premium on offshore exchanges, mainly Binance, has jumped to 6.3%, the highest since January 2022.
EU Metaverse Policy Should Consider Nondiscrimination, User Safety, Data Privacy: Commission Official
The European Union needs to consider issues such as non-discrimination, user safety and data privacy when considering how to regulate the metaverse, a senior European Commission official said Friday. The EU has lately set out sweeping regulations to control the ability of big companies like Google and Amazon to dominate the online space. "The Hash" panel discusses the future of the metaverse and the need for virtual safety.
Nigeria's Digital Currency eNaira Faces Setback Despite Cash Shortages
Nigeria is struggling with severe cash shortages, with riots erupting across the country just days before a presidential election. Still, people are not turning to the national digital currency, the eNaira, which promised to improve retail payments. "The Hash" panel discusses the case for crypto adoption and CBDCs in Nigeria amid economic uncertainty in the country.
Unrelated BASE Token Surged Amid Coinbase Layer 2 Network Launch
Base Protocol’s BASE tokens jumped, then dumped, in the past 24 hours following an announcement by crypto exchange Coinbase about the launch of its layer 2 blockchain Base. As of Friday, Coinbase has explicitly stated it has no plans to launch a token for its new blockchain. "The Hash" panel discusses what's behind the BASE rally.
FATF Sets Plan to Help Implement Global Crypto Standards
The Financial Action Task Force has agreed on an action plan to drive the "timely implementation" of its global standards for crypto, a report from its recent plenary meeting shows. "The Hash" panel discusses the potential outcomes for crypto regulation across the world.
Takeaways From Kraken's SEC Settlement
Andrew Keys, co-founder and president of DARMA Capital, discusses the key takeaways from Kraken's SEC settlement and what this means for the future of crypto staking services. "Now we at least know the rules of the game in what the SEC was taking issue with," Keys said.
Bitcoin Slips Below $24K Amid New Inflation Data; Coinbase’s New Layer 2 Blockchain Has Rocky Rollout
Bitcoin (BTC) failed to recapture the $24,000 support level following the release of the personal consumption expenditure (PCE) index, also referred to as the Fed's favorite inflation gauge. Plus, crypto exchange Coinbase’s new layer 2 blockchain Base had a rough start on Thursday, drawing a stream of complaints from users on social media.
Expectations for Ethereum Blockchain’s Shanghai Hard Fork
In March, Ethereum will undergo its first big upgrade – also known as a "hard fork" – since its shift to a proof-of-stake system in September. As part of CoinDesk's "BUIDL Week," DARMA Capital co-founder and President Andrew Keys explains what this upgrade will accomplish, along with his short and long-term outlook.