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
This week was particularly turbulent in the cryptocurrency market. Bitcoin’s price crashed to $30K following comments made by Elon Musk, who keeps teasing Dogecoin HODLers. Meanwhile, we also saw old China FUD recycled yet again. Starting off with bitcoin’s price performance, the week was rather unfortunate for bulls. BTC is down about 25% in the...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
The Australian Financial Services Minister – Jane Hume – warned cryptocurrency investors to beware of the risks in the market. She sounded a note of caution to the public after the prices of most digital assets collapsed significantly yesterday. However, Hume outlined their future importance. ‘They Are Volatile And High-Risk Assets’ Following the recent bloodbath,...Read More
Pancake Bunny, Binance Smart Chain’s largest yield aggregator service, has suffered a flash loan attack in which over $44M was stolen by an outside exploiter. Pancake Bunny’s underlying native token, BUNNY, crashed from $150 to $1 within seconds. Bunny Fam Today at 10:34 UTC, PancakeBunny was attacked with an economic exploit that crashed the price...Read More
Bitcoin’s 2021 bull cycle was paused, not entirely stopped, and will resume, opined the founder of SkyBridge Capital – Anthony Scaramucci. In a new interview, the former White House Communications Director addressed the recent environmental issues and called Bitcoin a fully robust monetary network. Yesterday’s market crash that saw bitcoin sliding by more than $10,000...Read More
Scott Minerd – Global Chief Investment Officer and Chairman of Guggenheim Partners – compared the recent crypto market collapse to the ”Tulipmania’ in the 17th century. His current stance came somewhat unexpectedly since not long ago, he predicted a price of $600,000 for Bitcoin. Crypto Is a ‘Tulipmania’ The recent crypto market crash created an...Read More
The price of Dogecoin jumped by 20% in minutes after another pro-tweet from Tesla’s CEO – Elon Musk. The billionaire posted a rather intriguing tweet that included a one-dollar bill and DOGE. In his latest pro-DOGE initiative on social media, Musk posted a picture with a text reading “cyberviking.” In the background, though, there’s a...Read More
The fingers are pointing at Elon Musk, China, and even U.S. lawmakers, but the truth behind this week’s epic crypto market crash could be even simpler. A highly overheated market combined with billions in leveraged positions was poised to crack at some stage, and the avalanche created by cascaded liquidations appears to be what we...Read More
This collapse, catalyzed by Elon Musk’s tweets criticizing Bitcoin’s energy consumption, was exacerbated by several factors, including China, reiterating its anti-Bitcoin stance, a large short position on Bitfinex, and the necessity of a general correction in the overbought crypto space. Crypto-related hashtags are trending across the world, including #crypto, #buythedip, and #altseason2021. Bears Attack Bitcoin...Read More
Justin Sun, the founder of TRON, just announced that he purchased over $150 million worth of bitcoins at an average price of about $36,800. In what some are calling ‘the greatest wealth transfer of the year,’ Bitcoin and the cryptocurrency market at large plummeted over 50% before rebounding over 25% within hours. Amidst a slew...Read More
The investment department of the large multinational financial service organization, Wells Fargo, is looking into offering cryptocurrency products to its institutional clients. A senior executive outlined the innovation in a recent interview and called bitcoin “a nice diversifier.” Wells Fargo Getting on the BTC Wagon? In a recent interview with BusinessInsider, Darrell Cronk, president of...Read More
Analysts of the banking giant JP Morgan opined that institutional investors might withdraw from Bitcoin and turn their sight back to gold as the price of the primary cryptocurrency collapsed. Back to Gold The turbulent times for cryptocurrencies caused some analysts to doubt bitcoin’s merit as a store of value. According to JP Morgan experts,...Read More
The cryptocurrency market was collectively sent into a massive correction over the past week. Bitcoin’s price dropped below $40K, and all altcoins followed. Some, however, have retraced harder than others – Dogecoin copycats are bleeding out, and there are a few important things to consider coming out of this. Dogecoin Copycats Like SHIB Tumble Hard...Read More
While Ripple continues with its ongoing legal battle against the SEC in the US, the payment processor has partnered with Egypt’s largest and oldest bank – the NBE. By utilizing RippleNet and the financial service provider LuLu, the National Bank of Egypt will process cross-border payments from the UAE to the African country. Ripple Brings...Read More
