SpaceComputer, a startup that plans to use satellites to run secure computing for blockchains, has raised $10 million in a seed round, according to an announcement shared exclusively with The Defiant. The firm said the funds will be used to build an orbital network that can process blockchain operations securely from space. The seed round
The U.S. initial jobless claims came in below estimates of 226,000, suggesting a rebound in the labor market, which is typically bearish in the push for a rate cut. However, despite this development, Bitcoin rose on the back of the data release, reaching $87,000 from an intraday low of around $86,400.
The Fed’s Beige Book report, which provides updated assessments of the regional economic outlook, has been released. The report notes that economic activity across the country has remained largely stable, but regional disparities are evident. According to the Fed, most regions reported no significant change in economic activity compared to the previous report, while two
South Africa’s central bank has echoed a warning from Standard Chartered, confirming that the rapid rise of stablecoins could destabilize emerging-market (EM) banks. Standard Chartered projects that digital dollars could drain as much as $1 trillion from EM bank deposits over the next three years, as consumers and corporates shift savings toward stable, USD-pegged alternatives.
A quiet pre-Thanksgiving session turned louder in U.S. afternoon hours, with bitcoin BTC$90,141.37 managing to regain the $90,000 level after nearly one week below that price. Of late, the Wednesday prior to Turkey Day has been a weak one, with declines in six of the past seven years, including massive drops in both 2020 and
Key Takeaways Bolivia is set to integrate stablecoins into the country’s formal financial system. Banks will be allowed to offer crypto services such as savings accounts, credit cards, and loans. Bolivia’s newly appointed Economy Minister Jose Gabriel Espinoza has announced that the country will integrate cryptocurrencies into its formal financial system. The implementation will start
Santiago Roel Santos, founder and CEO of crypto investment company Inversion Capital, said cryptocurrencies are not subject to positive network effects, but other experts disagree. In a recent Substack post, Santos wrote that “crypto is priced for network effects it doesn’t have.” He also pointed to the network effect valuation system, Metcalfe’s Law, saying that
Tether’s growing footprint in the global gold market has entered the chat in a big way, thanks to a new analysis from Jefferies that frames the stablecoin giant as something akin to a private-sector central bank. Why Jefferies Thinks Tether Is the Most Important Gold Buyer You’re Not Watching Tether, already known for steering the
The White House says tax refunds in 2026 will be “the largest ever,” a projection tied to retroactive tax cuts and withholding quirks that analysts say could leave millions with heftier checks. Record Refunds Expected in 2026, According to the White House The Trump administration says 2026 tax refunds are on track to be the
South Korea’s largest crypto exchange is officially getting acquired—pending regulator approval—by one of the country’s top tech giants. Naver Financial agreed Wednesday to absorb Dunamu, operator of crypto exchange Upbit, in an all-stock deal valued at $10.29 billion. According to a related filing, the deal will see Naver issue 2.54 new shares for every share