The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has been long on bitcoin for a while now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week the strategist’s analysis notes that bitcoin prices will likely revert toward the $60K handle in contrast to the $20K support range. …
Tag archives: Bitcoin
Users Criticize Uniswap’s Decision to Remove Over 100 Tokens From Main Interface
The largest decentralized exchange (dex) platform, in terms of trade volume, Uniswap has revealed the dex has removed a number of tokens from the platform interface. The community assumes the tokens could be deemed securities by global regulators. Uniswap users can still swap these tokens via accessing specific smart contracts themselves, as the company behind …
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Group of Salvadorans Take to the Streets to Protest El Salvador’s New Bitcoin Law
While some Salvadorans situated near Playa El Zonte beach like the new bitcoin tender law implemented by Nayib Bukele’s regime, a number of other citizens dislike the law. This week, regional reports show citizens from El Salvador have taken to the streets to protest the bitcoin tender law. Salvadoran Protestors Say Bitcoin Is ‘Too Volatile’ …
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Bitmain to Host Miners in 180-Megawatt Data Center in Kazakhstan
Crypto mining hardware manufacturer Bitmain has partnered with Enegix to host Antminer S19 Pro devices in one of the world’s largest data centers. The facility located in Kazakhstan is designed to accommodate more than 50,000 mining rigs. Bitmain to Work With Mining Facility Operator Enegix Leading mining equipment producer Bitmain has announced a partnership with …
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Circle K Deploys Bitcoin ATMs in Stores Across US and Canada — Over 700 Machines Already Installed
A leading convenience and fuel retailer, Circle K, is deploying bitcoin ATMs in its stores across the U.S. and Canada. More than 700 machines operated by Bitcoin Depot have already been installed. “As one of the world’s leading convenience and fuel retailers, Circle K is the first major retail chain to deploy bitcoin ATMs within …
IRS Modifies Crypto Question on Tax Form — Now Focusing on Taxable Cryptocurrency Transactions
The U.S. Internal Revenue Service (IRS) has modified the crypto question asked on the main U.S. tax form. Reducing the scope of the question, the IRS now focuses on taxable cryptocurrency transactions. New Crypto Question on Tax Form 1040 The IRS published a draft Form 1040 for the tax year 2021 Thursday. Form 1040 is …
Amazon’s Payment Team Hiring Digital Currency Expert to Develop Cryptocurrency Strategy and Products
Amazon’s Payments Acceptance & Experience team is hiring a digital currency and blockchain expert to develop the company’s digital currency and blockchain strategy and product roadmap, including a launch strategy. “We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon,” the company’s spokesperson said. Amazon …
After Barclays and Santander, UK Bank Natwest Blocks Payments to Binance
A major high street bank in the U.K., Natwest, has blocked payments to crypto exchange Binance. Natwest’s decision came after two other major British banks — Barclays and Santander — made a similar move to block fund transfers to Binance. The banks acted in response to a warning on the cryptocurrency exchange by the U.K.’s …
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Coinbase hit by securities class action following $86 bn NASDAQ listing
Coinbase Inc., together with certain Coinbase directors and officers as well as venture capital firms that benefited from the company’s April 2021 direct offering, faces a securities class action lawsuit. Going public through the offering, Coinbase made 114,850,769 shares of its class A common stock available to the general public as its shares started trading …
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New York Town Bemoans Roadside ‘Littered’ With Bitcoin Miners — Officials Plan to Impose 90-Day Moratorium
A St. Lawrence county town located in New York near the Canadian border, Massena, is another region in the state that is having issues with bitcoin miners. According to recent reports from the local WWNY-TV news desk and Reuters, the Massena town supervisor is drafting new regulations for bitcoin mining operations. Officials From Town of …
Abkhazia Holds Talks With Russia to Ensure Electricity Supply for Crypto Miners
The government of Abkhazia is negotiating with Russia to solve a problem that led to a ban on cryptocurrency mining. The partially recognized republic in the South Caucasus is now planning to legalize the industry and source sufficient power supplies from its energy-rich northern neighbor. Abkhazia Wants to Create Conditions for Cryptocurrency Mining The autonomous …
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Central Bank of Colombia Announces First Blockchain Bond Pilot Program
The Central Bank of Colombia has announced its involvement in the first blockchain bond pilot program in the country, with the participation of the Interamerican Development Bank (IDB) and Davivienda, a private commercial bank. The proof of concept will use the Lacchain blockchain platform developed by the IDB, which will handle the operative part of …
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Ex-fund manager pegs Bitcoin at $2 million by 2031. But that’s a $45 trillion market cap
Greg Foss, the Executive Director of Validus Power Corp, which uses flare gas to mine Bitcoin, lays out the case for a $2 million BTC price. Although sky-high price predictions are nothing new, Foss’s forecast is up there among the highest. Having said that, what is the reasoning behind his prognosis? [embedded content] Oil and …
Ripple transfers 60 million XRP even as US SEC lawsuit crawls on
To bolster its fair notice defence in a lawsuit filed by the Securities Exchange Commission (SEC), Ripple (XRP) claims two of their sitting Commissioners have spoken out about the lack of clarity on how securities laws apply to crypto. Meanwhile, Ripple and Binance got caught on the radar as 110 million XRP tokens worth roughly …
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64% of Adults from 10 Different Countries Would Use a Central Bank Digital Currency: Report
As central bank digital currencies (CBDCs) advance in testing, a number of countries have taken the lead in an effort to create a CBDC. The enterprise blockchain firm Guardtime recently conducted a survey that shows adults from ten different countries would likely use a CBDC. Nearly two out of three respondents said they would likely …