The UK’s Advertising Standards Authority (ASA) banned the trendy ”time to buy Bitcoin” Luno ads. The country’s officials called them ”irresponsible” and sounded an alarm of caution for inexperienced investors. No More BTC Ads The UK’s Advertising Standards Authority introduced severe restrictions for the crypto space in the past year. The British daily newspaper –...Read More
Bank of Indonesia joins the efforts of global central banks as it plans to launch a digital rupiah currency. Governor Perry Warjiyo confirmed the news and informed that the institution is yet to decide which platform to use. CBDC in Indonesia During the COVID-19 pandemic, the island nation of Indonesia saw a significant boom in...Read More
Speaking to Morgan Creek Digital co-founder Anthony Pompliano, the Shark Tank star said that DeFi will play a key role in the future of crypto and that he is deeply interested in the space. The revelations were made in Pomp’s May 24 Bitcoin podcast and were picked up by mainstream media highlighting that another investment...Read More
South Korea announced plans to establish a pilot program examining the possibility of developing and launching a digital version of the won. The country’s central bank will focus on how the CBDC will work with mobile payment transactions, internet banking, saving accounts, transferring funds, and more. South Korea CBDC Pushes Forward According to a recent...Read More
Ripple has been included in CNBC’s Disruptor 50 as the #38 of most successful private companies this year —primarily due to its innovative approach towards borderless payment technology and becoming one of the largest crypto companies in the world. This year’s CNBC’s Disruptor 50 is the ninth annual list of private companies thriving amidst the...Read More
HSBC reaffirmed that it has no intentions to launch a cryptocurrency trading desk or offer Bitcoin as an investment option to its clients. According to the institution, the digital asset is too volatile and lacks transparency. ‘We Are Not into Bitcoin’ The current crypto market situation continues to be highly unstable, mainly fueled by China’s...Read More
The software development company, Globant, has filed documents with the SEC revealing an allocation of $500,000 in bitcoin. The firm has put the BTC investment into its portfolio of “intangible assets.” Globant is an IT and software development conglomerate founded in 2003 and headquartered in Argentina. It has over e dozen offices worldwide, including in...Read More
Another cryptocurrency-related company aims to go public, this time, it’s China Network. The project, founded by the inventor of BitTorrent, has chosen a more traditional way through an IPO and came a step closer after raising $61 million in a recent funding round. Chia Network Raises $61M to Go Public Founded in 2017 by Bram...Read More
Analytics provider Glassnode has been breaking down last week’s market slump in its Monday “Week on Chain” report, revealing that the market traded down by over 47% from the weekly high of $59,463, to lows of $31,327. This generated a massive red $28K weekly candle, the largest ever. “The magnitude of realised losses on-chain this...Read More
Korea’s central bank is looking to move forward with the implementation of a central bank digital currency at a slow but sure pace. According to information revealed by the Korea Herald on Monday, May 24, 2021, the Bank of Korea is working on implementing a virtual environment that would allow to evaluate, control and test...Read More
BTC has reclaimed the $40K level after Elon Musk’s surprise announcement that he had spoken to North American Bitcoin miners, who are committing to use renewable resources whilst mining bitcoin, and will request miners worldwide to follow suit. This meeting was hosted by MicroStrategy CEO and Bitcoin advocate Michael Saylor, and it included the leading...Read More
Ethereum (ETH) Co-founder Vitalik Buterin had some words for Elon Musk after posting on Twitter that Dogecoin could increase its block size by 900%. Vitalik had several counterarguments for Musk’s claims in a paper published on his personal blog. He emphasised that scalability and higher throughput can be achieved by simply increasing the network’s parameters....Read More
After reportedly leading Coinbase’s public offering earlier this year, the giant US investment bank Goldman Sachs predicted a bright future for the exchange’s shares. In a recent report, Goldman has put up a “buy” rating for COIN and predicted a 35% increase by the end of the year. One of the most notable developments coming...Read More
As cryptocurrencies continue to experience massive volatility, Barry Silbert, founder, and CEO of Digital Currency Group (DCG), the parent company of Grayscale and other crypto firms, believes that the next move of the asset class will be determined by what happens in the stock market in the coming weeks. “Where the crypto market goes from...Read More
Cryptocurrencies and the hip hop industry continue to intertwine as famous rapper Meek Mill plans to expand his portfolio with Shiba Inu. This comes shortly after he purchased Bitcoin and Dogecoin. Meek Mill Plans to Buy Shiba Inu The skyrocketing popularity of meme coins, led by Dogecoin, caught the attention of multiple celebrities. The trend,...Read More
The recent regulatory crackdowns from the world’s most populated nation have impacted not only crypto prices but businesses inside the industry as well. Huobi has temporarily suspended a portion of its services to new users in China and in other nations. CryptoPotato reported last week China’s latest endeavor against the cryptocurrency industry. In it, the...Read More
Ripple’s CEO, Brad Garlinghouse, finds “beyond flattering” the accusations that the company he runs has influenced Telsa’s Elon Musk to highlight bitcoin’s energy consumption levels. Beyond Flattering: Garlinghouse One of the most discussed topics within and outside the cryptocurrency community in the past several weeks has been bitcoin’s energy consumption. On one side, environmentalists led...Read More
Around $400 billion has exited the crypto asset space since Friday in what has been one of the largest mass selloffs of coins and tokens. Total market capitalization had fallen to a three-month low of $1.45 trillion during Monday morning’s Asian trading session. The massive correction has seen markets dump around 43% since their peak...Read More
A bullish case isn’t on many people’s minds – but signs are cropping up that Bitcoin may indeed be headed for a trend reversal. Here are some signs explaining why BTC might be overdue for a renewed uptick. Bitcoin reached its all-time high of almost $65K on April 14, 2021, a little over a month...Read More
Michael Hsu – the new chief of the OCC – revealed that the US independent bureau plans to put under review its crypto guidelines offered over the past year. He added that all federal banks should provide interpretive letters and guidance, including issues around digital assets alongside pending matters. Is Stance Towards Crypto Getting Tougher?...Read More
Illinois will soon become the 3rd state in the U.S. to pass legislation that would favor Bitcoin with a new digital asset charter, which will be granted to a special purpose trust company instead of a traditional bank. Announced by crypto-advocate and Wall Street Veteran Caitlin Long, Illinois will be the third state, followed by...Read More
Volatility could be scary for some BTC investors, but it’s the price to pay for overperforming the S&P index 10x over a decade, said MicroStrategy’s CEO, Michael Saylor. He also described Elon Musk as “enthusiastic” about the bitcoin space following the latest criticism from Tesla’s CEO. Speaking on the enhanced volatility that bitcoin faced in...Read More
In yet another comment on the overall cryptocurrency industry, Elon Musk reaffirmed that he supports it over the existing fiat system. Elon Musk, one of the richest men on the planet and the CEO of Tesla and SpaceX, once again caused a Tweetstorm after saying that he supports crypto over fiat. The true battle is...Read More
The Iranian government enlisted intelligence officers with the task of cracking down on illegal cryptocurrency miners. This unprecedented move aims to solve the nation’s concerns with rising electricity consumption. The Government vs. Illegal Crypto Miners The Iranian authorities seem determined to solve their issues with illicit crypto mining. Bloomberg reported that the Ministry of Intelligence...Read More
Today is the international Bitcoin Pizza Day! This is a day that many in the crypto community celebrate the 11th anniversary of the first Bitcoin commercial transaction for two pizzas, which cost 10,000 BTC. On May 22, 2010, Laszlo Hanyecz traded 10,000 BTC for two Papa John’s pizzas in Florida. Years later, they would become...Read More
Tom Tugendhat, a member of Parliament of the United Kingdom, urged the nation towards implementing more innovations in its financial sphere. Interestingly, he also outlined the growth of the cryptocurrency sector and hinted he was more bullish on ether rather than bitcoin. UK Member of Parliament Bullish on ETH Tugendhat is a British Conservative Party...Read More
Prominent American economist Paul Krugman once again shared his negative stance towards cryptocurrencies. He compared a Ponzi scheme. Taking Aim at Crypto The most recent adverse price developments in the cryptocurrency market sparked many negative comments. Joining them was the Nobel Prize laureate – Paul Krugman. In an interview for the New York Times, he described...Read More
Buterin, who has had a sizeable chunk of his personal wealth wiped out over the past week, told CNN that he is not concerned about the market crash stating that we have had several of them before. He likened the current situation to a bubble stating that knowing when they will pop is “notoriously hard...Read More
Elliptic (a British blockchain security & analytics company) successfully traced DarkSide’s primary Bitcoin address, which contained over $90M in payments from 47 different victims. Ransomware As a Service – a Twisted Model DarkSide designs, creates and markets ransomware software to be sold to other cybercriminals who are able to locate the best targets. This type...Read More
All transactions above $10,000 now have to be reported to the IRS for documentation and taxation purposes. This comes right after a major market-wide correction which saw the price of bitcoin tumbling down to $30K. IRS Doubles Down The IRS will be expanded with an $80B package aiming to increase their manpower and resources. Individuals...Read More
