Bitcoin

‘Noxious Poison’ – Bitcoin’s Market Cap Surpasses Warren Buffet’s Berkshire Hathaway Valuation

January 2nd, 2021

For many years, the business tycoon Warren Buffet has condemned bitcoin as an investment telling people that the crypto asset is nothing but gambling. Two years ago, just before a Berkshire Hathaway 2018 annual shareholder meeting, Buffet said bitcoin is “probably rat poison squared.” Despite the investor’s criticism, the crypto asset’s market capitalization has surpassed…

US Government Fines Bitgo for Allowing Users to Bypass Sanctions With Cryptocurrency

January 1st, 2021

The U.S. Office of Foreign Assets Control has fined Bitgo for failing to prevent users in sanctioned countries from using its crypto wallet service. The agency says Bitgo processed 183 cryptocurrency transactions that were “apparent violations of multiple sanctions programs.” US Treasury Alleges Bitgo Allows Users to Bypass Sanctions The U.S. Department of the Treasury…

Rising Bitcoin Investors Activity Suggests BTC Bull Rally to Continue

January 1st, 2021

The BTC price has hit a new all-time high of $29,594 with its market cap moving past $550 billion. Interestingly, the ongoing investors’ activity in Bitcoin suggests that the bull run won’t be stopping anytime soon. Bitcoin Price Could See Rally Similar to 2011-13 The latest rally has pushed Bitcoin price to new highs as…

Production of $2.7 Million-per-Episode: South Korean Crypto-Related TV Drama Series Is Set to Start in 2021

December 31st, 2020

A major South Korean TV series with crypto and blockchain-related topics is set to launch its production stage at the beginning of 2021, directed by Gemstone Film, in collaboration with firms in China and the United States. South Korean Crypto-Related TV Drama Series ‘Pumping Time’ Is Set to Start in 2021 According to Financial News,…

Is China Replacing Bitcoin with Digital Yuan? U.S. Listed Car Maker NIO Removes Bitcoin Payments Ads

December 31st, 2020

It’s Bitcoin Vs Digital Yuan, are Chinese authorities forcing companies to accept digital Yuan replacing Bitcoin? In a very unusual case today, NIO a U.S. listed electric car-maker company from China advertising to offer bitcoin payment services at its dealership suddenly removed ads altogether. First the Bitcoin ads were replaced with digital currency and then…

Physical Crypto Bank Opens in India — These 14 Locations Offer In-Person Banking, Lending, Crypto Exchange

December 30th, 2020

A crypto bank has begun opening physical branches in India through a joint venture between Cashaa and United Multistate co-op society. Customers can open bank accounts, buy and sell cryptocurrencies, obtain crypto-backed loans, as well as learn about crypto. Crypto Bank Opens Physical Branches Crypto bank Unicas, a joint venture between Cashaa and United Multistate…

Large Bitcoin Futures Gap Causes Temporary Trading Pause, ETH Open Interest Hits All Time High

December 30th, 2020

CME Group temporarily paused trading of bitcoin futures after the market opened to a large gap of over $3,000 between the derivatives and the underlying crypto asset. According to a report, it was this huge futures gap which “amounted to a massive upside volatility” that led to the trading pause. Futures gaps are caused by…

Spanish Municipality Creates Its Own Cryptocurrency to Boost Economy Hurt by Coronavirus Crisis

December 29th, 2020

A municipality in the province of Sevilla, Spain, has launched its own cryptocurrency, which aims to encourage residents and merchants to arrange transactions with it in the midst of the coronavirus-driven economic impact. Spain’s Sevilla Municipality Launches ‘Elio’ Cryptocurrency to Boost Local Economy According to Europa Press, the City Council of Lebrija created “Elio,” a…

Digital Currencies Could Outshine SWIFT System, Says Central Bank of Russia’s Deputy Governor

December 29th, 2020

The first deputy governor of the Central Bank of Russia (CBR) has been vocal in a recent online meeting, reported by Russia Today (RT), about the topic of digital currencies challenging the SWIFT international payments system and make it redundant. Digital Currencies Could Challenge SWIFT System, Even Replace It According to Olga Skorobogatova, the development…

$200 Billion in Fines: Mega Banks Rack up Penalties From Illegal Activities

December 28th, 2020

Top U.S. banks have racked up almost $200 billion in fines and penalties over the past 20 years from illegal activities in 395 major legal cases. Bank of America tops the list, followed by JPMorgan, Citigroup, and Wells Fargo, according to a new report, which also covers Morgan Stanley and Goldman Sachs. Big Banks’ $200…