Before the world was hit by COVID-19, crypto assets such as Bitcoin and Ether showed little correlation with financial markets. Post-pandemic, the lines have become increasingly blurry. In a new blog post, IMF economists said several Asian countries have fiercely adopted digital assets in the last couple of years while highlighting the need for regulation....Read More
Bitcoin only intensified its recent price drops by slumping to just under $20,000 for the first time in about six weeks. The alternative coins suffer, too, leading to almost $400 million in liquidations from over-leveraged traders. CryptoPotato reported the relatively stable price movements from bitcoin in the past week or so. After falling by $4,000...Read More
Global investment manager VanEck has once again been made to wait longer for the U.S. Securities and Exchange Commission (SEC) to decide on the company’s latest Bitcoin exchange-traded product (ETF) application. The watchdog refuses to approve a spot Bitcoin ETF in the country, while it has granted a few futures-based ones. The SEC announced in...Read More
Despite being an outspoken supporter of bitcoin, the founder of the investment company SkyBridge Capital – Anthony Scaramucci – does not believe the asset has reached a status of a hedge against inflation yet. In his view, this will happen once BTC wallets hit a billion. In addition, the former White House official opined that...Read More
Bitcoin and other cryptos are now being accepted as means of payment at two of Ukraine’s largest tech retailers: Techno Їzhak, and Stylus. Customers can now purchase products from each retailer using Bitcoin from their online stores, or from their combined 100+ retail locations. Per a report from the Ukrainian outlet Obozrevatel, Bitcoin payments at...Read More
Bitcoin and Ethereum slumped by double-digit percentages weekly after tapping multi-month highs last weekend. This resulted in over $150 billion gone from the entire market cap. Somewhat expectedly, the Fear and Greed Index has returned to a state of fear, but BitMEX’s co-founder – Arthur Hayes – believes this retracement could be an opportunity to...Read More
It has been a tough year for crypto miners who had to sell their coins to cover their costs and fund expansion as well as for the repayment of debts. But this trend appears to be continuing into the third quarter of the year for some. Bitcoin price successfully broke out before facing rejection near...Read More
Digital asset manager Monochrome has received regulatory approval from the Australian securities watchdog to offer spot crypto exchange-traded funds (ETFs). According to an official announcement, Monochrome is one of the first asset management firms to secure an Australian financial services license (AFSL) from the Australian Securities & Investments Commission (ASIC) for crypto-related ETFs. Monochrome Bitcoin...Read More
Celsius Network’s financial projection shows that it is likely to run out of cash by October, but the lending firm witnessed a breakthrough. A New York judge has approved Celsius’ request to sell Bitcoin that it mines as it undergoes bankruptcy. While the process is expected to reinstate financial stability for the beleaguered platform, Chief...Read More
Maximiliano Hinz – top executive of Binance Latin America – argued that the spiking inflation is the main reason why the largest cryptocurrency exchange has amassed more clients in recent months. Another factor is the historically strong dollar, which has weakened other fiat currencies from emerging markets. Over the past few years, numerous experts and...Read More
According to the multinational investment bank – JPMorgan Chase & Co. – the main reason for the recent recovery of the cryptocurrency market is the expectation that Ethereum will complete its shift from Proof-of-Work to Proof-of-Stake this year. Bitcoin is currently up by over 35% compared to its lowest level in June, while Ether has...Read More
The Thai-based cryptocurrency exchange – Zipmex – will reportedly enable its customers to partially withdraw some of their Bitcoin and Ether holdings, starting from August 11. The company was one of the worst-hit entities from the bear market in the past several weeks. At the end of July, the platform paused clients’ withdrawals citing volatile...Read More
Matt Corallo – a long-time Bitcoin developer and one of Blockstream’s Co-Founders – thinks BTC maximalists are not helping their favorite cryptocurrency by calling all other digital asset protocols “scams.” Instead, those should respect some altcoins because many have significant use-cases. Over the years, the largest cryptocurrency by market capitalization has amassed numerous individuals as...Read More
One of the oldest soccer clubs in the UK – Oxford City – will reportedly allow fans to purchase match tickets, food, and beverages in bitcoin instead of fiat currency. The initiative will see the light of day following a multi-year partnership between the team and the digital asset exchange CoinCorner. Over the years, the...Read More
The world’s leading financial derivatives platform – Chicago Mercantile Exchange (CME) Group – revealed intentions to introduce Bitcoin and Ether Futures tide to the euro later in August The company already has a deep history with the crypto industry. A few months ago, it launched micro options on Bitcoin and Ether futures, justifying its move...Read More
American digital payments company Block Inc.’s second-quarter (Q2) revenue dropped by 6% year-over-year (YOY) to $4.4 billion. Although the numbers still topped Wall Street’s expectations of $4.35 billion, it suffered a loss of $208 million during the quarter, the Associated Press reported. Following the Q2 results, Block shares slipped 5.35% to $84.90 in after-hours trading on...Read More
One of the leading economies in Asia – Japan – will once again have cryptocurrency automated teller machines (ATMs). Despite being a financial hub, the country removed all such devices in 2018 following a hack against a local exchange. The number of cryptocurrency ATMs across the globe has rapidly increased in the past few years....Read More
One of the leading bitcoin mining companies – Riot Blockchain – mined 318 BTC in July – a 28% production decrease compared to June’s figures. The main reason for the crippled productivity was last month’s extremely hot weather in Texas. It caused the company to shut some of its mining rigs in the area as...Read More
The former Chief Executive Officer of MicroStrategy – Michael Saylor – abdicated from his post and took another role at the firm. He will serve as an Executive Chairman of the Board, particularly focused on bitcoin advocacy. The news positively impacted MicroStrategy’s shares, surging by 15% within 48 hours after the announcement. Earlier this week,...Read More
BlackRock, the world’s largest asset manager, is partnering with US crypto exchange giant Coinbase, to offer digital asset exposure to institutional clients. Coinbase announced the collaboration in a blog post on Thursday (August 4, 2022). According to the statement, institutional clients of BlackRock’s investment management platform Aladdin (Asset, Liability, Debt, and Derivative Investment Network) will...Read More
The US Department of Justice sentenced the 40-year-old resident of Pelahatchie, Mississippi – Jessica Sledge – to the statutory maximum of 10 years in Federal Prison. In 2021, the woman hired a “hitman” and paid him $10,000 worth of bitcoin to murder her husband. Additionally, the authorities jailed the citizens of Orange County – Jeremy...Read More
The reality for the crypto industry and cryptocurrency prices in 2022 is institutional investment has only just begun. When it happens for real, the market will suddenly and drastically revise the exchange rate of crypto upward. Without looking it up, how much money would you know or reckon that institutional investors have exchanged for cryptocurrency...Read More
In 2013, James Howells – a citizen of Newport, Wales – mistakenly threw away his iPhone-sized hard drive containing 8,000 BTC. To find his lost possessions (worth around $169 million as of now), the 36-year-old man reportedly came up with an $11 million master plan involving robot dogs and artificial intelligence-powered machines. A Needle in...Read More
U.S. Treasury yields edged up Monday as markets focus on inflation woes and recession risk. All eyes are on a two-day Federal Reserve policy meeting that concluded this Wednesday, and the central authority hiked the interest rates by 75 basis points, as many expected. A slew of tech earnings reports this week and the latest...Read More
Bitcoin and Ethereum are pumping after the U.S. Bureau of Economic Analysis released its official GDP data for Q2 2022. The data shows that real GDP decreased by 0.9% year over year, marking the nation’s second consecutive quarter of negative GDP growth. Bitcoin traded for about $22,700 prior to the bureau’s release at 08:30 EST....Read More
The crash of Nigeria’s national currency (naira) reportedly pushed many residents to turn to alternative assets such as bitcoin and stablecoins to preserve their wealth. The peer-to-peer exchange LocalBitcoins marked a 258% increase in BTC purchases compared to last week’s figures. Nigerians View Crypto as a Lifeboat Nigeria’s official currency – the naira – is...Read More
Somewhat surprisingly, the crypto market reacted quite well to the latest interest rate hike from the US Fed, with prices soaring to new weekly highs. As such, the number of liquidated traders on a daily scale is over 90,000, while the total value of liquidations is $400 million. As CryptoPotato reported yesterday, the primary cryptocurrency...Read More
Jefferies analyst Brent Thill downgraded the software analytics provider to “underperform” from “hold” as the ongoing crypto shambles failed to demonstrate strong signals for a market reversal. The downgrade that categorized the stock from “hold” to “underperformance” maintained its price target at $180. Following the news and bitcoin dipping below $21,000 on Tuesday, shares of...Read More
As the primary cryptocurrency hovers around $21,000, retracing back from the weeks-high level at $24,100, experts across the industry remain cautious in regards to its upcoming price action. However, emerging signs have indicated that the asset’s price has found a cyclical bottom, reported Bloomberg. A Cautious Attitude In Reign Among Experts The relief rally in...Read More
After an exuberant risk-on rise in Bitcoin’s price Tuesday, a retracement since Wednesday wiped out most of the gains. Traders blame Tesla’s Q2 earnings report. Bitcoin prices hovered around the $20K level since mid-June. Markets are watching closely to see what bitcoin whales will do next. Tesla reported dumping 75% of its bitcoin Wednesday. As...Read More
