Teererai Mukonavanhu

Pakistan sets up special electricity tariffs to attract crypto mining

March 23, 2025 1 min read

Pakistan is looking into Bitcoin mining to make use of its excess electricity and develop a regulated digital asset industry. The government plans to introduce attractive electricity tariffs for crypto mining and blockchain data centers. This initiative aims to encourage industries to utilize surplus energy. The new tariffs will be market-based and not dependent on government subsidies. By doing this, the government hopes to lower payments to power producers for

The Federal Reserve maintains the federal funds rate unchanged

March 20, 2025 1 min read

The Federal Reserve decided to keep interest rates steady today, maintaining the federal funds rate between 4.25% and 4.50%. This marks the second consecutive meeting without a change, amid rising recession fears linked to the economic policies of the Trump administration. The Fed has revised its economic forecasts for 2025. It lowered GDP growth expectations from 2.1% to 1.7%. Unemployment forecasts increased slightly from 4.3% to 4.4%. Additionally, projections for

David Sacks sells over $200 million in digital assets including Bitcoin and Ethereum

March 17, 2025 2 mins read

David Sacks, who is the AI and crypto czar for Donald Trump, recently disclosed that he and his firm, Craft Ventures, sold over $200 million in crypto assets before starting his new role. The White House confirmed that at least 85% of this amount is directly linked to Sacks himself. This information was included in a memorandum dated March 5, which also granted him a limited ethics waiver to engage

Johnny Garcia emphasizes education on Bitcoin reserve bills

March 15, 2025 1 min read

Johnny Garcia highlights the importance of education regarding Bitcoin reserve bills to overcome legislative resistance. Currently, 18 states are still considering the adoption of these bills, while five states have rejected them. Garcia argues that the resistance is mainly due to a lack of understanding rather than outright opposition. He believes that incorporating Bitcoin reserves can lead to innovation, better investment frameworks, and increased financial transparency. Many citizens are skeptical

Bitcoin is currently in a prolonged distribution phase, with investors shifting from accumulation to liquidation

Bitcoin enters a distribution phase as investors shift to selling

March 14, 2025 1 min read

Bitcoin is currently in a prolonged distribution phase, with investors shifting from accumulation to liquidation. This change has increased selling pressure, causing Bitcoin’s price to decline. The market has entered a typical phase after reaching all-time highs, which began in early 2025 following a significant price correction. Recent data shows that all wallet sizes are contributing to this selling trend. Both large and small holders have reduced their positions, especially

Pi Network users face migration issues as the March 14 deadline nears

March 10, 2025 2 mins read

Pi Network users, called Pioneers, are feeling frustrated as they face challenges transferring their mined Pi Coins (PI) to the Mainnet. With March 14, 2025, approaching, many users are reporting technical issues that have not been resolved. If they do not complete their Know Your Customer (KYC) verification by 8:00 AM UTC on that date, they risk losing most of their Pi holdings, except for coins mined in the last

Over $3 billion in Bitcoin and Ethereum options set to expire today

March 7, 2025 1 min read

Today, over $3 billion in Bitcoin and Ethereum options are set to expire, leading to expected market volatility. Bitcoin’s key “max pain” level is at $89,000, while Ethereum’s is at $2,300. The expiration of these options is causing significant price fluctuations. Bitcoin has about $2.5 billion in contracts expiring, and Ethereum has around $500 million. This event, happening at 8:00 UTC on Deribit, is likely to create wild movements in

President Trump signs an executive order to establish a Strategic Bitcoin Reserve

March 7, 2025 1 min read

President Donald Trump has signed an Executive Order to create a Strategic Bitcoin Reserve. This reserve will use Bitcoin obtained from federal criminal and civil asset forfeitures. David Sacks, who is in charge of AI and crypto for Trump, shared this news on X. The Executive Order comes just before the first-ever White House Crypto Summit, happening in less than two days. Reports say that Trump wants to keep Bitcoin

US Treasury Secretary Scott Bessent pushes for lower interest rates

March 5, 2025 1 min read

Scott Bessent, the U.S. Treasury Secretary, wants to lower interest rates to help the American public, especially those with lower incomes. He believes that cutting rates would reduce costs for loans and boost economic growth, which has been hurt by high rates. However, he faces strong opposition from Jerome Powell, the Federal Reserve Chair, who controls interest rates. Powell is cautious about making sharp cuts and prefers a gradual approach.

The SEC introduces its Crypto Task Force

March 4, 2025 2 mins read

The US Securities and Exchange Commission (SEC) has formed a new Crypto Task Force to address regulatory challenges in the digital asset space. Commissioner Hester Peirce leads this initiative, which aims to clarify and improve crypto regulations. The task force consists of a leadership team and several Senior Advisors with expertise in legal, policy, and operational matters related to crypto. Key leaders include Richard Gabbert as Chief of Staff, Michael

Tether (USDT) appoints Simon McWilliams as its new CFO

March 4, 2025 1 min read

Tether, a major stablecoin issuer, has appointed Simon McWilliams as its new Chief Financial Officer. This move is seen as a significant step towards achieving a full audit of the company. McWilliams has over 20 years of experience in finance and auditing at large investment firms. His role will focus on enhancing Tether’s transparency and preparing for regulatory requirements. Tether stated that McWilliams’ appointment shows their commitment to completing a

CME Group announces that it will roll out Solana futures on March 17