“We are going to lead the shift to crypto and fintech in Mexico,” said one senator. Eduardo Murat Hinojosa, a senator of the federal government of Mexico, has said he will be submitting a proposal to lawmakers seemingly aimed at crypto adoption in the country. In a tweet today, Hinojosa changed his profile picture to …
Category archives: Trending Crypto news
Reports suggest BlockFi seeks to raise millions at a valuation of $5B
Financiers from New York and London are said to be leading the private investment round, according to reports. Cryptocurrency lending platform BlockFi is reportedly looking to raise hundreds of millions of dollars in new funding at a valuation of nearly $5 billion, offering further insights into the growth of crypto-focused companies. The company, which was …
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Gold-backed digital tokens to hit Turkish market following new partnership
The partnership enables investors to purchase grams of accredited gold as ERC-20 tokens. Gold wholesalers are starting to find new ways to expand their businesses to retail, thanks to blockchain-based tokenization. International bullion trading company AgaBullion and United Kingdom-based fintech Aurus Technologies have signed a partnership to offer gold-backed tokens in the Turkish market. The …
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Ripple publishes proposal for federated sidechains to keep main ledger lean
In lieu of expanding the main ledger’s functionality, Ripple’s developers argue that using federated sidechains will help preserve the blockchain’s leanness and efficiency for payments. Ripple’s developers have been engaging with feedback and suggestions that they expand the XRP Ledger, or XRPL, to integrate functionalities such as smart contracts. The latter have become a major …
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Concordium aims to end the era of anonymity in crypto industry
Crypto and blockchain industries need to play by the rules to realize their full potential, Concordium CEO says. The anonymity of Bitcoin (BTC) and other cryptocurrencies is a hot topic in the crypto space. While the transactions are open to track in a public blockchain, it is challenging to link a transaction with a real-life …
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IRS needs congressional authority to handle crypto, says chief
“Most crypto, virtual currencies are designed to stay off the radar screen,” said Charles Rettig. Internal Revenue Service chief Charles Rettig called out lawmakers for not taking the initiative on addressing the problem of many U.S. residents not paying taxes on crypto. In a Tuesday senate hearing on the IRS’ fiscal year 2022 budget, Rettig …
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Bitcoin price nears $30K as estimates reveal $19K support floor
Breaking $19,000 will be “very hard” for bears, say analysts at Whalemap, with this still allowing Bitcoin to dive below the $20,000 highs from 2017. Bitcoin (BTC) edged closer to the significant $30,000 support on June 8 amid predictions that a major crypto correction was imminent. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bulls line …
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Crypto investment platform Coinseed shuts down amid NYAG lawsuit
Coinseed also created an ERC-20 token whose message is targeted at New York Attorney General Letitia James. Coinseed, a crypto platform that enabled micro-investing in cryptocurrency assets for its users, has shut down its operations. Delgerdalai Davaasambuu, founder and CEO of Coinseed, announced the decision via a statement published on the platform’s website. Detailing his …
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‘I should have bought a lot more,’ laments billionaire investor on Bitcoin
“The probability as more and more people keep using Bitcoin, it’s going to keep moving up,” said Marc Lasry. Marc Lasry, co-founder and CEO of Avenue Capital Group, believes that despite recent volatility in the crypto market, it likely isn’t going away. In a Tuesday interview with CNBC’s Squawk Box, Lasry said that while the price …
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Bitcoin sell-off likely played a key role in boosting Gold’s appeal
Investors’ appetite for gold increased as they assessed higher inflation and a major price crash in the Bitcoin market. May was a testing time for cryptocurrencies like Bitcoin (BTC). The flagship digital asset was already wobbling after rallying to nearly $65,000 in mid April, owing to profit-taking sentiment among traders. Elon Musk accelerated the sell-off …
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Berkshire Hathaway invests $500M in Brazilian digital bank
Though its billionaire owner has personally spoken out against digital assets many times, Berkshire Hathaway’s investment may indicate the firm is more open to the idea. Brazilian digital bank Nubank has raised $500 million from Berkshire Hathaway, a multinational holding company run by billionaire Warren Buffett. In an announcement from Nubank on Tuesday, the digital …
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Ontario securities regulator takes action against Kucoin
The OSC published a statement of allegations against Mek Global Limited and PhoenixFin Pte. Ltd. on Monday for allegedly violating local securities laws. The Ontario Securities Commission, or OSC, is taking stern action against two companies associated with KuCoin for allegedly failing to comply with local securities laws, setting the stage for further regulatory action …
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Rogue states dodge economic sanctions, but is crypto in the wrong?
When the United States first began going after crypto companies for violating its economic sanctions rules, it didnt exactly start with a bang. In December, the Treasury Departments Office of Foreign Assets Control (OFAC) announced a settlement with crypto wallet provider BitGo after the Palo Alto firm failed to prevent persons apparently located in the …
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Bitcoin will dip to $25K if this trader’s 20% crypto crash forecast comes true
Commentators are calling for a deeper crypto dive that would see BTC price action close to $20,000, not $30,000, in the short term. Bitcoin (BTC) is heading for “absolute carnage” that will result in a trip to around $25,000, a popular trader has warned as bullish signals disappear for BTC/USD. In characteristically direct tweets this …
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Tim Wu, the ‘father of net neutrality’ reportedly owns over $1M in Bitcoin
Tim Wu, a one-time Bitcoin critic and current technology policy adviser at the White House, reportedly owns between 29 and 146 BTC. Cryptocurrencies might be anathema for certain members of United States President Joe Biden’s administration, but that has not stopped one staffer from owning a small fortune in Bitcoin (BTC). According to a report …
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