Author: Kryptonews

Eric Adams has made his first major public move since leaving the New York City Mayor’s Office, launching a New York City–themed crypto token aimed at addressing anti-semitism and “anti-Americanism.”In a post to X on Monday, Adams announced the launch of the “NYC Token, with a link to a website that says it also aims to inspire the next wave of innovation in NYC.“I always say there are two types of Americans, those who live in New York and those who wish they could,” Adams said in a video, adding that “We’re about to change the game.”“If you can’t make…

The US Senate Agriculture Committee has pushed its markup of the crypto market structure bill to the end of January, saying it needs more time to garner support for the legislation. Committee Chairman John Boozman said on Monday that he wanted to advance a bipartisan-supported bill and has “made meaningful progress and had constructive discussions as we work toward this goal.”“To finalize the remaining details and ensure the broad support this legislation requires, additional time is needed before moving to markup,” he added. “The committee will mark up this legislation during the last week of January.”The crypto industry is highly…

Meta is reportedly set to lay off around 10% of staff from its metaverse arm this week, as the tech giant focuses its resources on artificial intelligence. Meta could announce the cuts as soon as Tuesday, the New York Times reported on Monday, citing sources.Meta’s Reality Labs has around 15,000 staff members. The division focuses on virtual reality (VR) gear such as headsets, as well as operating the firm’s metaverse platforms Horizon Worlds and Horizon Workrooms. Around 10% of the division’s employees are expected to be cut, around 1,500 people.   Cointelegraph has reached out to Meta for comment.  Meta cutting metaverse budgetMeta has…

Archaeologists in England unearthed the remains of two people buried alongside a fully harnessed horse bearing weapons in a discovery characterized as being of “national importance.” As reported by GB News, the findings—excavated during preparatory work for a nuclear-power station in Suffolk—date back to a time between the 6th and 7th centuries. “The sandy Suffolk soil means that, instead of preserved bones, the acidic ground left behind what archaeologists call ‘sand silhouettes,’ which capture the outlines of the bodies in striking detail,” GB News wrote of the discovery of at least 11 burial mounds. Related Articles The two people whose…

US President Donald Trump has pledged to make major tech companies “pick up the tab” for their power usage to prevent everyday Americans from paying more for electricity. “I never want Americans to pay higher electricity bills because of data centers,” Trump said on his social media platform Truth Social on Tuesday.He blamed the Democrats for surging household electricity bills and vowed to work with major American tech giants to “secure their commitment to the American People,” with an announcement in the coming weeks.The average price of electricity per kilowatt-hour in the average US city has increased around 40% over…

ETH’s recent rally was driven by spot demand and a healthy use of futures market leverage, potentially setting Ether up for a follow-up move to $4,000.Ether’s (ETH) futures and spot markets are sending mixed signals as futures positioning builds, but the altcoin’s price fails to make new highs. Data suggested that ETH traders are adding to their exposure even as spot buying underpins the recovery.Key takeaways:Ether’s estimated leverage ratio fell to 0.67 by Sunday from an all-time high of 0.79 on Jan. 2, despite rising open interest.Aggregate spot CVD increased with the rally, indicating spot-led demand with a bullish positioning…

Key takeaways:Institutional investors selling Bitcoin is visible through the Bitcoin ETFs recording $1.38 billion in net outflows across four trading sessions. BTC futures data shows a neutral 5% basis rate, well below the 10% level that typically defines a true bullish breakout.Bitcoin (BTC) price briefly jumped above $92,000 on Monday after US federal prosecutors opened a criminal investigation into Federal Reserve Chair Jerome Powell. Despite the odd outcome, Bitcoin traders remain skeptical due to exchange-traded fund outflows and weak demand for bullish leveraged BTC positions. Bitcoin/USD vs. gold and silver. Source: TradingViewDespite the recent rebound, Bitcoin is still down 23% since…

Ethereum needs to get to a point where its value proposition remains even if developers stop active work on the protocol, according to its co-founder Vitalik Buterin.“We must get to a place where Ethereum’s value proposition does not strictly depend on any features that are not in the protocol already,” said Buterin in a post to X on Monday.He said Ethereum protocols should aspire to be like hammers: once purchased, they remain usable, unlike services that lose functionality when a vendor walks away. Source: Gabriel ShapiroWhile Ethereum has a long technical roadmap ahead, the network needs to reach a point…

The Bank of Italy modeled what would happen to Ethereum’s security and settlement capacity if the price of Ether fell to zero, treating the network as critical financial infrastructure rather than just a speculative crypto asset.In a new research paper titled “What if Ether Goes to Zero? How Market Risk Becomes Infrastructure Risk in Crypto,” Bank of Italy economist Claudia Biancotti examined how an extreme price shock in Ether (ETH) could affect Ethereum‑based financial services that rely on the network for transaction processing and settlement. Biancotti focused on the link between validators’ economic incentives and the stability of the underlying…

Telfair Museums abruptly laid off some 15 percent of its staff on January 9. The news was reported by Savannah television station WJCL. While the museums offered severance, the layoffs were announced without warning on an afternoon Zoom call, according to former employees. Museum representatives told WJCL that the staff cuts stemmed from reduced funding and were approved by the museum’s executive committee of the board. The Telfair Museums, the oldest public art museum in the South, comprises four institutions: the Telfair Academy, the Owens-Thomas House and Slave Quarters, Jepson Center and Telfair Children’s Art Museum. Related Articles The oldest…