Bitcoin (BTC) starts a new week at the center of fresh crypto industry drama as the highest fees in two years pressure price action. Downside volatility is greeting traders thanks to a full mempool, and explanations point the finger at multiple parties. Largest exchange Binance is adding to the confusion, pausing BTC withdrawals several times…
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The race to develop artificial intelligence (AI) continues as China pushes forward the development of home-grown AI without utilizing the latest technology from the United States due to current sanctions. According to a report from The Wall Street Journal, Chinese companies are studying methods to develop AI via weaker semiconductors and combinations of chips to…
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A sudden spike in Bitcoin (BTC) transaction fees and unconfirmed transactions sparked concern on Crypto Twitter over the weekend of a potential Denial of Service (DoS) “attack” on the network. Some Bitcoin analysts and commentators have been quick to allay these fears from their respective followers. Bitcoin average transaction fees are currently $19.20, or 0.00068…
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Bitcoin (BTC) withdrawals on Binance have again been temporarily shuttered, with the crypto exchange claiming it was due to a large backlog of pending withdrawals. Binance tweeted on May 8 that it closed off BTC withdrawals “temporarily” as there was a “large volume of pending transactions.” It added the transactions are still pending, as its…
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Crypto-friendly Hong Kong is still gung-ho about giving its citizens access to crypto trading despite other jurisdictions “taking a step back,” claims the chair of the FinTech Association of Hong Kong (FTAHK). Speaking to Cointelegraph at the Hong Kong WOW Summit in March, FTAHK chair Neil Tan said while Singapore and the United States are…
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Bitcoin’s (BTC) volatility has shrunk further this week and it is on track to form an inside-bar pattern on the weekly chart. Although the bulls are finding it difficult to clear the overhead hurdle in the $30,000 to $31,000 zone, a positive sign is that they have not ceded ground to the bears. It is…
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Crypto exchange Binance closed Bitcoin (BTC) withdrawals on May 7 due to an alleged overflow of transactions on the Bitcoin network. Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed at the time of writing. The mempool is known as the “waiting area” for incoming transactions before they are verified independently by…
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A Wells notice is not a final determination of guilt or wrongdoing, meaning that the recipient has the chance to respond and make a case before any administrative action is initiated. The Wells notice procedure, though, is a clue that the SEC is considering taking action, and how it turns out might have a big…
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Internet payment processor Stripe has introduced a fiat-to-crypto onramp to address the “cold start problem” faced by Web3 companies as a result of customers not having “crypto in their wallets to carry out transactions.” According to a May 4 statement, Stripe’s newly launched fiat-to-crypto onramp service will enable Web3 companies to provide their US-based customers…
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Top Stories This Week Memecoin hype drives Bitcoin transaction fees to multi-year highs The ongoing trading frenzy of memecoins like Pepe has triggered an unwanted consequence for Bitcoin (BTC) — raising its transaction costs to their highest point in two years. On May 3, the total amount of fees paid on the Bitcoin blockchain reached…
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