Michael Saylor’s business intelligence giant now owns over 100,000 bitcoins after the company purchased another chunk of 13,005 BTC for nearly $500 million. Consequently, the firm now has 0.5% of all bitcoins ever to exist. The founder and CEO of the NASDAQ-listed company announced the latest purchase earlier on June 21st. It came after the...Read More
The Chinese crackdown on crypto continues to escalate with a new statement from the nation’s central bank banning more banks and payment providers from interacting with digital assets. CryptoPotato reported today that one of the country’s largest banks, the Agricultural Bank of China, had prohibited its clients from doing business with anyone even remotely connected...Read More
The total liquidations in the cryptocurrency market have reached $1 billion as all assets have dumped in a matter of hours. Following new FUD from China, bitcoin slumped to a two-week low at just over $32,000, ETH below $2,000, and so on. After the somewhat positive weekend when BTC recovered some losses and traded at...Read More
Denver, Colorado-based Crusoe Energy is capturing the energy from flare gas at oil patches and using it to mine Bitcoin. The firm is now one of North America’s biggest BTC miners and has attracted investment from Coinbase Ventures and the Winklevoss twins according to a recent report. Renewable Bitcoin Mining Crusoe claims that its system...Read More
The S2F model is currently suggesting that, in the worst-case scenario, BTC will surpass $98K by November, which is highly optimistic given recent market developments. S2F’s Methodology & Accuracy Comparing Bitcoin to precious metals like gold and silver, PlanB has used statistics to outline a defined relationship between the value and scarcity of a given...Read More
India’s Narcotics Control Bureau (NCB) arrested Makarand Pardeep Adivirkar, better known as the ”Crypto King”, on suspicion of purchasing drugs from the Darknet using bitcoin. Apart from Indian peddlers, the criminal also bought narcotics from European ones. LSD for BTC The NCB announced that it arrested a suspect who allegedly exchanged bitcoin for LSD. He...Read More
The latest data revealed that 78% of the UK residents have heard of cryptocurrencies, as 2.3 million of them hold some of them. Nonetheless, the overall understanding of digital assets has declined. More HODLers But Less Crypto Knowledge Digital assets remain a complicated industry in the UK, and the share of people investing in them...Read More
British banks are making it increasingly difficult for their customers to get involved with crypto, citing particular concerns related to security and exposure to fraud. According to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is...Read More
Teresa Jackson – a retired teacher from Portishead, Somerset – lost her savings in an online scam. A mysterious ”financial advisor” persuaded her to stake £120,000 in a bitcoin investment scheme advertised on Instagram. Universal Credit Instead of Multiplying Her Money The UK’s national reporting center for fraud and cybercrime sounded a note of caution...Read More
The US multinational investment bank Goldman Sachs continues with its 180-turns on the cryptocurrency industry. After its recent interest that included filing for a Bitcoin ETF and exploring crypto as an asset class, the institutions’ latest report said virtual currencies are not a “viable investment.” Crypto Is Not a Viable Investment: Goldman It’s safe to...Read More
The Chinese government has reportedly intensified its crackdown on cryptocurrency mining and usage in the country by shutting down several crypto mining facilities in Sichuan. Sichuan Bitcoin Miners Join the List According to Wu Blockchain, the authorities of the Sichuan province officially issued a statement today, mandating every power supply company in the province to...Read More
After conducting tests for several months, the Swiss branch of the large Spanish bank – Banco Bilbao Vizcaya Argentaria (BBCA) – has announced plans to release two services related to the cryptocurrency industry. According to the official statement, private banking customers based only in Switzerland will have the option to trade bitcoin and other digital...Read More
Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well. CryptoPotato reported last week when Rejala Helman said his country planned to start...Read More
Popular NASCAR driver Landon Cassill will soon become the first auto racing driver to receive his salary in cryptocurrency via a new partnership with crypto brokerage firm Voyager Digital Ltd. First Auto Racer To Receive Crypto Salary In an official announcement today, the National Association for Stock Car Auto Racing, LLC (NASCAR), an American auto...Read More
The Bitcoin price crash has been so severe that the Winklevoss twins, arguably one of the largest BTC whales in the world, have decided to start a band to make ends meet. Let’s Rock! Ok, Ok; maybe we’re exaggerating, but a report from the celebrity gossip site Page Six claims that the multi-talented Winklevoss twins...Read More
The global investment manager VanEck would have to wait more to receive the SEC’s answer about its Bitcoin ETF application from earlier this year. The Commission’s second delay seeks other interested parties to weigh in on whether such a product will be sustainable. After withdrawing its previous attempts, VanEck filed another application with the US...Read More
Charles Hoskinson – the founder of Cardano – stated that the project’s native cryptocurrency ADA is one of the greenest and most eco-friendly digital assets. He further opined that Tesla (TSLA) should choose it if it really cares about environmental sustainability. Tesla Should Go for Cardano (ADA) In a recent interview with Lex Fridman, Charles...Read More
On Wednesday, a World Bank spokesperson stated that they are committed to helping El Salvador in numerous ways including currency transparency and regulatory processes for its Bitcoin adoption plan. However, the international financial institution was not keen on the Bitcoin part according to Reuters, adding: “While the government did approach us for assistance on bitcoin,...Read More
While the entire crypto industry was extremely delighted with the news of El Salvador’s bitcoin adoption as a legal tender, several financial analysts have called out the country’s president and congress for the decision. A “Very Stupid” Decision In a recent report, Steve Hanke, a professor of Applied Economics at the John Hopkins University, has...Read More
Huobi, one of China’s most popular Bitcoin exchanges, has reportedly slashed their maximum leverage allowance from 125x to less than 5x for existing users on the back of China’s regulatory crackdown on cryptocurrencies. New users signing up to the platform will not be able to use leverage at all. Exclusive: Due to concerns about regulatory...Read More
Despite the massive adoption waves surrounding cryptocurrencies in recent months, the Indonesian authorities have decided they want nothing to do with this emerging asset class. According to a recent report, the governor of Indonesia’s central bank, Perry Warjiyo, asserted that the use of cryptocurrencies as a payment method in the country would no longer be...Read More
Beijing is still issuing orders to shut down Bitcoin mining operations, and many of them are now seeking friendlier climes overseas to base their operations. On Monday, CryptoPotato reported that Yunnan, the fourth-largest Bitcoin mining producer, had been targeted in the regime’s latest crackdown. In what crypto industry observers are calling the “great mining migration,”...Read More
America is not lagging behind in the crypto race During the last hearing of the U.S. House Committee on Financial Service, Rep. Maxine Waters (D) announced the creation of a working group aimed at studying and regulating the crypto industry. “As Cryptocurrencies grow exponentially, I have organized a working group of Democratic members to engage...Read More
Following the adoption of bitcoin as the country’s second legal tender, El Salvador’s government is discussing if companies would pay their employees in bitcoin. In a tweet by a local radio station 107.7 Fuego on Tuesday (June 15, 2021), three government ministries were considering the possibility of companies’ workers receiving their wages in BTC. This...Read More
Michael Saylor’s initiative to continue buying more and more bitcoins makes no sense, argued the full-time BTC basher – Peter Schiff. Following the latest development coming from MicroStrategy, in which the company outlined plans to allocate another $1 billion in the asset, the prominent economist called Saylor “truly insane.” Schiff to Saylor: Truly Insane If...Read More
Large hedge funds expect to increase their cryptocurrency holdings to 7% in five years, a recent survey conducted by the Financial Times concluded. This comes after the increased involvement from prominent names like Stan Druckenmiller, Paul Tudor Jones III, SkyBridge Capital, and more. Hedge Funds to Increase Crypto Holdings It’s safe to say that 2020...Read More
U.S. business intelligence firm MicroStrategy revealed plans to sell it Class A common stock for as much as $1 billion, with part of the proceeds possibly used for making more bitcoin purchases. Another Major Bitcoin Purchase? In a document filed with the U.S. Securities and Exchange Commission on Monday (June 14, 2021), MicroStrategy stated that...Read More
The billionaire owner of the Dallas Mavericks has gone big into crypto and DeFi. In a blog post titled “The Brilliance of Yield Farming, Liquidity Providing, and Valuing Crypto Projects,” he has simplified the process of liquidity provision and yield farming. DeFi yield farming exploded onto the scene in mid-2020 when the Compound Finance protocol...Read More
The Central American Bank for Economic Integration (CABEI), an international multilateral development bank headquartered in Honduras, said that it will work with the El Salvadoran government to implement bitcoin as the country’s second legal tender. According to Reuters, on Monday (June 14, 2021), the executive president of CABEI, Dante Mossi, revealed the bank’s plans at...Read More
South Korea continues to enforce stricter rules on the cryptocurrency space with the latest legislation to classify exchanges as high-risk entities. The move comes as the Asian country aims to enhance the monitoring of financial transactions and user ID verifications. The Korea Times reported that the Financial Services Commission (FSC), South Korea’s financial watchdog, has...Read More
