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Crypto News

Nigeria Leads the Way in Blockchain-Based Economy to Boost Transactions

Nigeria has approved a national blockchain policy to establish a blockchain-based economy that facilitates secure transactions and value exchange. The policy was developed through stakeholder consultations and aims to impact the public and private sectors favorably. The National Information Technology Development Agency (NITDA) will coordinate policy initiatives under a multisectoral steering committee. Relevant regulatory bodies have been instructed to create regulatory frameworks for blockchain implementation, and initiatives include promoting digital identity, fostering awareness, and creating blockchain business incentive programs.

cointelegraph - 1209 ngày trước

Iran Will Allow Crypto Payments for Imports through Dedicated Platform

Iran's Trade Promotion Organization has established a dedicated platform to allow local firms to pay for imports with cryptocurrency. The Central Bank of Iran has issued permission to use crypto in settlements for imported goods, according to the head of the government body, Alireza Peymanpak. The platform is linked to the CBI's Currency Allocation Platform and the Comprehensive Trade System. The use of cryptocurrencies and smart contracts in foreign trade with target countries will be widespread by the end of September, the official said.

Bitcoin News - 1210 ngày trước

Presidential Candidate Robert F. Kennedy Jr. Criticizes Proposed Tax on Crypto Mining

Robert F. Kennedy Jr., the Democratic presidential candidate, has criticized the Biden Administration's proposed 30% tax on cryptocurrency mining, calling it a "bad idea". Kennedy argued that cryptocurrencies are a major innovation engine, and it is a mistake for the US government to hinder the industry's growth. He also said that the environmental argument against crypto mining is a pretext to suppress anything that threatens elite power structures.

cryptonews - 1210 ngày trước

Fiat Decline Triggers Surge in Bitcoin Adoption, Says Michael Saylor

Michael Saylor, former CEO of MicroStrategy, believes two dynamics are driving Bitcoin's adoption: concerns over inflation and the recent banking crisis. The failure of banks has undermined investor faith in the banking system, leading them to turn to Bitcoin, which is seen as a bank in cyberspace. Despite paper losses, MicroStrategy will continue to accumulate Bitcoin, as it is confident in the asset's potential and has conditioned its shareholders and bondholders to understand its long-term strategy.

CryptoPotato - 1210 ngày trước

Crypto Giant Moves $504 Million Worth of Ethereum in a Stunning Transfer

A massive crypto whale moved nearly $505 million worth of Ethereum to Binance in a single transfer, representing one of the largest self-custody-to-exchange transfers in the past five years, according to crypto analytics firm Santiment. The transfer only cost around 0.00183 ETH (worth roughly $3.38). In a separate incident, an unknown wallet sent roughly 77,482.16 ETH across six transactions worth $145.35 million to different Coinbase addresses over a 12-hour period on Monday.

The Daily Hodl - 1210 ngày trước

Bitcoin Mining a Huge Success With $50B Profits Earned by Miners

Bitcoin miners have earned over $50 billion since 2010, with their total income 40% higher than estimated costs, according to Glassnode The profits have come from fees and block reward subsidies, which have resulted in a 37% profit margin. Researchers used thermocap and transaction fees, and difficulty production cost to generate the figures. The results contradict concerns that low BTC-USD prices could cause mass capitulation in the mining industry. Despite predictions of a negative difficulty adjustment this week, Bitcoin network fundamentals remain strong, with hash rate and difficulty hitting all-time highs.

cointelegraph - 1211 ngày trước

Bhutan to Invest $500M For Game-changing Crypto Mining in Himalaya

Bhutan's investment arm, Druk Holding & Investments, plans to seek investors for a $500 million fund to develop green crypto mining in the country using hydroelectric power. Singapore-based Bitdeer Technologies Group will set up a 100 MW operation in Bhutan. Mining Bitcoin is the least risky way for Bhutan to diversify its economy, according to Druk CEO Ujjwal Deep Dahal. The fund aims to attract institutional investors and will target low volume, high-value digital assets. Druk manages the government's investments in traditional areas and crypto mining and investment under a "future-facing" strategy.

Bloomberg - 1211 ngày trước

Arthur Hayes Believes Bitcoin Will Skyrocket To $1 Million After Bank Collapse

Arthur Hayes, controversial BitMEX co-founder, predicts that another regional bank will collapse due to liquidity issues following the Federal Reserve's planned interest rate hike. He believes this crisis in the banking sector will cause macroeconomic turmoil and ultimately help Bitcoin (BTC) reach $1 million. Hayes plans to purchase short-dated puts on banks with large commercial real estate portfolios after the Fed meetings to profit from their potential failure. He has made numerous $1 million Bitcoin predictions before.

The Daily Hodl - 1211 ngày trước

Kenya introduces 1.5% tax to crypto companies

Kenya plans to impose a 1.5% digital tax on cryptocurrency exchanges that facilitate digital asset transactions, including Bitcoin, Ethereum, and Tether. The tax is applicable to foreign crypto exchanges earning interest from facilitating the buying and selling of digital assets by over four million Kenyans. Major exchanges like Binance, Coinbase, and Kraken are included under these regulations. The sector is largely unregulated in Kenya and worldwide, leading to the need for mandatory registration and taxation, according to the United Nations Conference on Trade and Development.

CryptoSlate - 1211 ngày trước

Revolut Brings Borderless Crypto Investment to Brazil

Digital bank Revolut has launched in Brazil, its first foray into Latin America. The bank aims to tap into Brazil's growing demand for crypto assets, with around 10 million users in the country. Revolut, which already offers crypto investments across Europe, is looking to carve out a share in the market where digital bank Nubank is the leader with around 70 million customers. Revolut's CEO Nik Stronsky said the bank's mission is to unlock a borderless economy with accessible financial products.

coindesk - 1211 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước