Bitcoin

Nigerian Youth Propels the Country to the Top of Google Bitcoin Search Rankings

January 15th, 2021

Nigeria, one of the biggest cryptocurrency markets in the world, recently emerged as the country with the highest number of bitcoin searches globally, according to Google Trends data. The data shows that the West African country has a search score of 100, which is more than double that of its nearest rival. Youth-Driven Interest According…

Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

January 14th, 2021

The government of Khyber Pakhtunkhwa (KP), the third-largest of Pakistan’s four semi-autonomous provinces, is setting up two state-backed bitcoin mining farms, local media reported last week. Ziaullah Bangash, advisor to the chief minister of KP on Science and Information Technology, said the provincial parliament passed a bill allowing the KP government to use its own…

Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by Bitcoin Hashrate

January 14th, 2021

There’s a new type of token gaining popularity in the crypto space with the launch of coins that are backed by a specific amount of proof-of-work (PoW) hashrate. On January 6, 2021, Binance launched a new project called the bitcoin standard hashrate token (BTCST), a coin that represents 0.1 terahash (TH/s). Furthermore, the mining operation…

Lawsuit Filed to Stop a Global Cryptocurrency Scam Spreading in India

January 13th, 2021

A class-action lawsuit has reportedly been filed against a cryptocurrency scam that has duped many Indian investors. The scam, promoted in three Indian languages, lures investors by promising up to 900% return on investments. The Delhi court has directed a notice to be placed in major newspapers, seeking victims of this scam to come forward….

New Zealand Watchdog Issues Warning on Crypto Investments Following Bitcoin’s Latest Price Drop

January 13th, 2021

New Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.” FMA Warns About Unregulated Overseas Crypto Exchanges According to an official statement published in the NZ…

Bitcoin price risks revisiting $30,000 while Goldman Sachs reckons that BTC has matured as an asset

January 13th, 2021

Bitcoin is fighting to hold above the $33,000 but overhead pressure continues to make this task a difficult one for the bulls. The largest cryptocurrency had recovered after testing and confirming support at $30,000. However, overhead pressure at the 50 Simple Moving Average, marginally above $36,000 prevented further price action. At the time of writing,…

UK Government Asks Crypto Industry to Provide Insights on Its Regulatory Approach

January 12th, 2021

Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to crypto-assets and stablecoins” for 2021 following the Brexit turmoil. Special Focus on Stablecoins Regulation According to the official announcement, the consultation mainly targets stablecoins to…

JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in US

January 12th, 2021

JP Morgan’s analysts say that the U.S. Securities and Exchange Commission (SEC) approving a bitcoin exchange-traded fund (ETF) is likely negative for bitcoin in the near term. There is optimism around the prospect of the SEC approving a bitcoin ETF under new leadership, the analysts say. SEC Approving Bitcoin ETF Could Be Negative JP Morgan…

Guggenheim’s Scott Minerd Calls for Bitcoin Profit-Booking, Seems a Plan to Buy Cheaper

January 11th, 2021

It looks like the current Bitcoin (BTC) price rally isn’t just creating a FOMO among retail players but institutions as well. Just as the Bitcoin (BTC) price surged past $40,000 it has started giving jitters to some of the big industry veterans. Guggenheim Partners’ Scoot Miner who earlier predicted that Bitcoin (BTC) can touch $400,000…

The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme

January 11th, 2021

The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a civil penalty of…