Nassim Nicholas Taleb – a Lebanese-American economist known as the author of the book “The Black Swan” – started a quarrel on Twitter with the Canadian professor of psychology – Jordan Peterson – over bitcoin’s possible capability to ease monetary issues. The former is a keen critic of the primary cryptocurrency, while the latter thinks...Read More
The Supreme Court of Denmark ruled that people should be subject to taxation when generating profits by selling bitcoin. The legislation will apply to both investors and miners. The Court’s Decision Højesteret – the third and final instance in all civil and criminal cases in the Kingdom of Denmark – announced on March 30 that investors...Read More
Mike Novogratz – the CEO of Galaxy Digital – opined that China’s less hostile stance on the crypto industry could be one reason behind bitcoin’s possible price increase in the next several months. The Hong Kong subsidiaries of some leading Chinese banks have recently offered their services to local cryptocurrency businesses. Novogratz’s Bullish Forecast The...Read More
The world’s largest corporate holder of bitcoin has resumed its accumulation spree after three months on the sidelines. Additionally, the Michael Saylor-founder business intelligence giant has repaid its Bitcoin-collateralized loan to Silvegate at a substantial discount. The former company CEO took it to Twitter on March 27 to announce the latest bitcoin purchase from his...Read More
The leading stock exchange – Nasdaq Inc. – could make another push toward the cryptocurrency sector by launching custody services by the end of the second quarter of this year. Fidelity and Bank of New York Mellon are other financial behemoths that offer such options. Ira Auerbach – Senior Vice President and Head of Nasdaq...Read More
The cryptocurrency exchange – Bitzlato – enabled customers to withdraw up to 50% of their bitcoin funds stuck on the venue. The US Department of Justice (DOJ) closed the firm in January for allegedly processing more than $700 million worth of illegal funds and arrested its founder – Anatoly Legkodymov. Granting Some Access The company revealed...Read More
The United States Bankruptcy Court for the Southern District of Texas ordered Core Scientific to transfer approximately $20.8 million worth of mining equipment to the energy infrastructure firm – Priority Power. The entities had a dispute over two mining facilities located in Texas that were supposed to supply Core Scientific with 1,000 megawatts of electricity. ...Read More
The cryptocurrency exchange BitMEX outlined some possible scenarios that could unfold in the coming months for the cryptocurrency industry. It believes the Federal Reserve will most probably cease its interest rate hikes by the end of the year, triggering a flow of funds into global capital markets and risk-off assets. Cryptocurrencies, such as bitcoin and...Read More
Switzerland’s largest banking institution – UBS Group – entered into a merger deal with its troubled rival – Credit Suisse. The former will pay $3.25 billion to finalize the deal, which is 60% less than what Credit Suisse was worth at the end of last week. Bitcoin reacted positively to the news, surpassing $28,500 for...Read More
The “Vietnam Crypto Market Report 2022” revealed that 16.6 million Vietnamese own digital currencies, with bitcoin being the most popular asset. Another research conducted by Chainalysis placed the Asian country as the world’s cryptocurrency adoption leader, with a score of 1.000. Close to the Top The study, reported by a local media outlet, estimated that 16.6...Read More
Markets are starting to price in an incoming Fed pivot as bank instability forces central banks to protect the financial system.Analysis from CryptoQuant analyst Cristian Palusi suggests that the liquidity crises now plaguing commercial banks may be a “long-awaited buy signal” for Bitcoin. Banks Down, Bitcoin Up In a post published on Thursday, Palusci noted...Read More
Ryan Selkis – CEO of the crypto intelligence firm Messari – believes there will be more negative events in the financial world in the near future, including bank crashes. He sees bitcoin acting as “a life raft and peaceful exit option” amid the calamity, predicting its price could soar to $100,000 in the next twelve...Read More
Bitcoin soared to a high of $26,514 on Tuesday, up 30% since crashing below $20,000 on Friday. What caused the king of crypto to rebound in such a spectacular fashion? Here are three possible reasons: Silicon Valley Bank’s Bailout Much of Bitcoin’s price trouble last week stemmed from uncertainty surrounding the crypto industry’s biggest banking...Read More
Robert Kiyosaki – an American businessman, investor, and motivational speaker better known as the author of the bestseller “Rich Dad, Poor Dad” – thinks the current crisis in the banking sector will intensify. As such, he advised investors to focus on bitcoin, gold, and silver, arguing those assets could save them amid the potential turbulence....Read More
The past week has been wild altogether and not just in the cryptocurrency market. A major bank in the US – Silicon Valley Bank – experienced what was essentially a bank run and was forced to shut down by authorities to prevent further panic. The government, in the face of the Federal Reserve and the...Read More
A scalability solution unique to Ethereum is now compatible with Bitcoin. Rollkit allows for the storage of rollup information developed for Ethereum but on the Bitcoin network. According to an official statement, Rollkit — a modular framework for rollups — was successfully launched on march 5, 2023. The solution could, at least in theory, help...Read More
At the center of the Grayscale-SEC drama is Grayscale Bitcoin Trust (GBTC) – the world’s largest Bitcoin fund – which has for two years been trading at a steep discount to the crypto-asset it holds. This has caused much pain in the market. But on the days leading up to the much-anticipated fight, the GBTC...Read More
The Colorado-based bitcoin miner – Riot Blockchain – reported a total revenue of nearly $260 million for 2022, a 22% increase compared to 2021. It mined 5,554 BTC and boosted its hash rate capacity to an all-time high of 9.7 EH/s. The positive results come in spite of the devastating bear market that reigned during...Read More
Following an ultimately flat February, eager investors are curious: what’s in store for Bitcoin’s price this March? Here’s a look at how Bitcoin has performed each March over the last 12 years. On average, the asset’s price has risen by 10% each time. Bitcoin, March, and the Halving In its earliest days, March wasn’t a...Read More
Bitcoin prices remain in consolidation following a 42% rally off the cycle bottom this year, but on-chain metrics are hitting new highs. Despite the 2023 crypto market rally, Bitcoin remains down 66% from its all-time high of 69,000 in November 2021. Those that missed the cycle bottom of $16,500 in mid-November may still have opportunities...Read More
The renowned Canadian musician – Aubrey Drake Graham (better known as Drake) – parted with $400,000 worth of bitcoin after Jake Paul lost his fight against Tommy Fury. Had Paul knocked out his opponent, the singer would have generated a profit of over $1 million in BTC. Entangled in the ‘Drake Curse’ The musician wagered $400K worth...Read More
Matthew Klinger – a 51-year-old Jefferson City, Missouri resident – received five years of supervised probation after admitting to shooting a bitcoin ATM with a handgun. It remains unclear whether the machine had any faults, however, he said he did it “so that it could not take money from anyone else.” So Close to a...Read More
Block (formerly known as Square) – an American multinational technology conglomerate founded by Jack Dorsey – disclosed $1.83 billion of bitcoin revenue generated from its Cash App payment service in Q4, 2022. The figure was nearly $2 billion in the fourth quarter of 2021, and the company blamed the decline of the crypto market for...Read More
A British pensioner living in Nottinghamshire parted with $207,000 after becoming a victim of a bitcoin romance scam. The police managed to restore some of the stolen funds and warned people to be extra vigilant with online dating due to the rise of similar frauds. The Latest BTC Romance Scheme The Nottinghamshire police said a woman...Read More
Novotel Bahrain Al Dana Resort reportedly became the first hotel in the country to accept cryptocurrencies as a means of payment. Other hotels located on the Arabian peninsula that embraced digital assets during the past several months include W Dubai – The Palm and Palazzo Versace Dubai. Entering the World of Crypto According to recent...Read More
The largest creditors of bankrupt cryptocurrency exchange Mt. Gox have chosen a payment option that will allow them to receive a lump sum of their recovery payout in bitcoins rather than fiat. The creditors, now-defunct crypto exchange Bitcoinica and Mt Gox Investment Fund (MGIF), collectively represent about one-fifth of the bankruptcy claims. Gox Biggest Creditors...Read More
Robinhood’s cryptocurrency trading volume hit $3.7 billion last month, a 95% increase compared to December 2022. Contrary to the good start of the year, the 2022 bear market took its toll on the firm’s crypto revenue. It also dismissed nearly a third of its total headcount. Starting off on the Right Foot The cryptocurrency market...Read More
The cash withdrawal restrictions imposed by the Central Bank of Nigeria (CBN) have made a strong case for Bitcoin as a solid store of value and a censorship-resistant currency. Nigeria is currently facing a shortage of physical cash after the CBN redesigned its banknotes, causing the old bills of the local naira currency to become...Read More
The past 24 hours have seen the entirety of the crypto market trade in the green as Bitcoin’s price reached a high of just around $25K. The last time BTC traded around this level was back in August 2022, and the market seems ecstatic. But why did Bitcoin pump? Mystery Bitcoin Whales Behind the Rally?...Read More
The Galaxy Digital founder and chief executive said he expects Bitcoin prices to reach $30,000 by the end of March. Speaking at a Bank of America conference on Feb. 15, Novogratz said: “When I look at the price action, when I look at the excitement of the customers calling, the FOMO building up, it wouldn’t...Read More
