Long-term Bitcoin holders remain unfazed by the recent sell-off, but there is still one alarming sign. A recent run-down in Bitcoin’s (BTC) price from about $65,000 to as low as $30,000 did not force long-term holders into selling, Glassnode data shows. The on-chain analytics platform revealed a spike in Bitcoin reserves held in wallets with …
Continue reading “Bitcoin accumulation uptrend can create a 2013-style BTC price ‘double pump’”
Coincheck has announced its plans to carry out an Initial Exchange Offering (IEO) this summer. The IEO will be of Hashpalette, a firm that Coincheck had partnered with in August last year as part of the plan to start its venture through the IEO. IEO of Coincheck An IEO is a process where a crypto …
Continue reading “Crypto firm, Coincheck, Plans to Launch First IEO in Japan”
Ed Carpenter, a renowned US automobile race driver, has just emerged fifth on the Indianapolis 500. He competed in the race using his Chevrolet that he had pimped with the Bitcoin logo. Indianapolis 500, shortly known as Indy500, is a popular racing event in the United States. The race was the 105 season of the …
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Ripple’s legal battle with U.S. regulators continues. Ripple has scored another win in its ongoing legal battle against the United States Securities and Exchange Commission as the court has denied the SEC access to Ripple’s legal advice. Magistrate Judge Sarah Netburn of the District Court for the Southern District of New York ruled Sunday to …
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Chinese “crypto dad” and ex PBoC director Yao Qian insists digital yuan is not a surveillance tool for the government. China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately-owned conglomerates, former People’s Bank of China director Yao Qian said. Speaking at the International Finance …
Cryptocurrency investors should be ready to lose all their holdings, according to Ireland’s central bank financial conduct director. Ireland’s central bank director general for financial conduct is the latest official to point out issues of Bitcoin (BTC) and the cryptocurrency industry following a major market sell-off. The growing popularity of cryptocurrencies like Bitcoin is “of …
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The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to …
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The Central Bank Of Brazil, the highest monetary authority of the country, has released a note listing the general guidelines for the design of a hypothetical central bank digital currency (CBDC) for the country. While there are still no concrete steps taken in this direction, at least the document recognizes there have been discussions about …
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Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region. Just recently, a Chinese state-backed online publication revealed that the Sichuan Energy Regulatory Office plans to hold a meeting on June 2, 2021, …
Strong hands are hodling stronger than ever as May 2021 lines up to be the worst May ever for Bitcoin. Bitcoin (BTC) starts a new week bearish or as a firm “buy” depending on the source — what happens next? After a week of uninspiring price performance, the largest cryptocurrency is still stuck in the …
Continue reading “Worst month for BTC price in 10 years: 5 things to watch in Bitcoin”
Another day, another BSC DeFi protocol gets hacked. Belt Finance has become the latest Binance Smart Chain-based decentralized finance, or DeFi, protocol to lose millions to an opportunistic hacker. The Rekt Blog, which post mortems DeFi exploits, stated that an attacker exploited a flaw in the way the protocol’s vaults calculates the value of its …
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Acting OCC head, Michael Hsu, wants greater inter-agency cooperation in establishing regulatory guidelines for the crypto sector. The Acting Comptroller of the Currency, Michael Hsu, has expressed that regulatory agencies in the United States should establish a “regulatory perimeter” for digital assets and cryptocurrencies. In an interview with Financial Times, Hsu indicated U.S. regulators will …
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Threats from China’s central government appear to have done little to quash local demand for crypto assets. As Beijing attempts to regulate and suppress the cryptocurrency boom, traders have been evading regulatory oversight by using over-the-counter, or OTC trading desks. According to a May 31 report published by Bloomberg, there has been a significant uptick …
Continue reading “Chinese traders turn to OTC desks amid regulatory crackdown”
Police from the UK executed a raid in an industrial unit in the West Midlands county expecting to find a cannabis farm, but instead found a big bitcoin mining facility, that was coincidentally bypassing the controls from the local power utility company to siphon energy from the main grid, stealing thousands of pounds in the …
A Chinese economist and assistant director at the International Monetary Institute of Renmin University, Qu Qiang, has predicted that “We’re all going to die” if bitcoin becomes widely adopted as a currency. He foresees our society falling into “a death spiral of deflation,” noting that “the whole society is going to shrink and self-explode.” We’re …
