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Crypto News

People Seek Safety in Bitcoin Amid Declining Bank Trust Says Macro Guru Lyn Alden

Macro guru Lyn Alden highlights the growing understanding of Bitcoin's exceptional value proposition as a result of several regional bank collapses. During a recent MicroStrategy World Panel Session, Alden reveals that Americans are awakening to the inherent risks associated with banks, a notion already acknowledged globally. The ongoing banking crisis serves as a catalyst, prompting investors to recognize Bitcoin's appeal as a secure store of wealth. Alden emphasizes the cryptocurrency's fundamental properties, including self-custody, protection against dilution, and independence from liabilities, which further strengthen Bitcoin's narrative.

The Daily Hodl - 1197 ngày trước

Bitcoin Poised To Hit $35,000 As It Beats US Dollar In Preferred Asset

Bitcoin emerges as the preferred investment choice for both professional and retail investors, surpassing the US dollar, yen, and Swiss franc, as per Bloomberg's recent MLIV Pulse survey. With the looming U.S. debt ceiling default risk, investors are flocking to Bitcoin, causing its price to rally over $35,000. This surge is attributed to Bitcoin's growing reputation as a safe haven, following gold and treasuries, especially amid the potential catastrophic consequences the US faces. Notably, 7.8% of professional investors and 11.3% of retail investors prefer investing in Bitcoin, reflecting its increasing popularity.

CoinGape - 1197 ngày trước

Russian Companies Actively Utilize Crypto, 4 Laws to Be Implemented

The Russian State Duma plans to adopt four crypto-related laws during its spring session, aiming to regulate cryptocurrency mining, cross-border payments, taxation, and illegal use. Anatoly Aksakov, chairman of the Financial Market Committee, emphasized the need for a legal framework for cryptocurrency transactions, particularly in foreign trade settlements. He also mentioned that large Russian companies are actively using cryptocurrencies and expressed the intention to consider market participants' opinions on tax rules, taking into account norms applicable to digital financial assets.

Bitcoin News - 1197 ngày trước

The Awakening: After 12 Years Dormant, 'Ancient' Bitcoin Transfers Wallets

In an unexpected turn of events, 139 Bitcoins from 2011, now valued at $3.5 million, have reawakened after being dormant for nearly twelve years. This year has seen a notable increase in ancient Bitcoin movement, with 3,200 BTC, including 1,100 predating 2013, coming back to life. While it remains unclear if the owners' convictions have changed or if these movements are related to selling or personal custody, the market watches closely as the majority of the ancient supply is believed to be lost forever.

Decrypt - 1198 ngày trước

US Chamber of Commerce Stands by Coinbase's Call for SEC Regulatory Transparency

The US Chamber of Commerce has expressed its support for Coinbase's call for regulatory clarity from the SEC. Alongside other cryptocurrency firms, Coinbase has been advocating for clearer regulatory guidelines in the U.S. In a letter addressed to the SEC, the Chamber of Commerce highlighted the need for clear regulations to ensure investor protection, as well as to foster growth and innovation in the cryptocurrency industry. The support from the US Chamber of Commerce could help strengthen Coinbase's position in its ongoing efforts to improve regulatory clarity in the crypto space.

The Daily Hodl - 1198 ngày trước

LG Patent Allows TV Users to Trade NFTs Comfortably

LG Electronics, the South Korean tech giant, has made a significant move by filing a patent with the World Intellectual Property Organization (WIPO) for a TV that revolutionizes NFT transactions. This cutting-edge device seamlessly connects to an NFT market server, displaying a diverse collection of artworks, and enables users to conveniently buy, sell, and trade NFTs using their TV-connected cryptocurrency wallet. This patent is the latest addition to LG's ambitious plans in the metaverse and NFT space, despite the recent cooling off of the "Year of the Metaverse" hype.

Decrypt - 1198 ngày trước

Ethereum's Staking Rate on Track to Double Soon

Following the Shapella upgrade enabling validator withdrawals, Ethereum is witnessing a remarkable surge in staking activity. A report by Staked, a subsidiary of crypto exchange Kraken, suggests that the rate of staked ETH could potentially double in the next 18 months. Notably, total ETH deposits during the week ending May 2 were four times higher compared to the period before the Shapella upgrade. With this increasing staking demand, the stake rate is expected to reach 20-35% within the next 12-18 months. Kraken, Coinbase, and Binance are major contributors to recent un-staking activities.

theblock - 1199 ngày trước

Blockchain Gaming Firm Animoca Brands Accumulates $194 Million in Cash and Stablecoins

Hong Kong-based gaming company, Animoca Brands, declares its financial robustness to sustain operations in a recent blog post. With a stablecoin reserve of $194 million and $566 million worth of liquid digital assets, including the SAND utility token for the "Sandbox NFT metaverse platform," Animoca Brands showcases its solid position. The company's majority-owned Web 3 subsidiaries possess token reserves valued at $2.7 billion. Additionally, the firm reported substantial revenues of $573 million in the first quarter of 2022, demonstrating significant growth.

cryptonews - 1199 ngày trước

MicroStrategy Founder Saylor: Banking Crisis Fuels Smart Money Rush into Bitcoin

MicroStrategy's founder Michael Saylor predicts that the banking crisis will have a positive impact on Bitcoin. In an interview on the David Lin Report, Saylor highlighted the cryptocurrency's appeal to "smart money" amid the ongoing currency and banking turmoil. As trust erodes in traditional monetary systems worldwide, including the U.S. and Western Europe, Saylor asserts that the attractiveness of "commodity monies" like gold and Bitcoin is increasing. With its digital nature, portability, and scarcity, Bitcoin emerges as the superior form of commodity money, gaining recognition as the apex currency.

The Daily Hodl - 1200 ngày trước

MetaMask Expands Payment Options, Offers ETH Purchases via PayPal in the US

MetaMask, the popular Ethereum wallet, has launched a new feature allowing U.S. users to purchase Ether (ETH) using PayPal. This move marks a significant step towards mainstream adoption of cryptocurrencies, as PayPal has over 426 million active users worldwide. With this integration, MetaMask users can now use their PayPal account to buy, store and manage ETH, making it easier for the masses to access the world of decentralized finance. The feature is currently only available to US-based customers but is expected to roll out to other countries soon.

cointelegraph - 1200 ngày trước

Texas Legislators Approve Digital Currency Protection in State's Bill of Rights

Texas lawmakers overwhelmingly passed an update to the state's Bill of Rights, granting Texans the right to own and use digital currencies. Bill HJR 146, introduced by State Representative Giovani Capriglione, received strong support with 139 votes in favor and only two against. The bill aims to protect financial privacy and prevent the devaluation of wealth. It is seen as a favorable alternative to banning central bank digital currencies (CBDCs), rendering them worthless instead. The bill will proceed to further votes before potentially becoming law.

Decrypt - 1200 ngày trước

Robinhood's Q1 Crypto Custody Breaks Records, Reaches $11.5 Billion

Robinhood's first quarter earnings report indicates a positive shift in its crypto business lines, with a rise in assets under custody to $78 billion in Q1 2023. The company's custodied crypto assets reached $11.5 billion, indicating significant growth. Although crypto transaction revenue experienced a slight decline, Robinhood sees potential for growth and aims to maintain competitive pricing. They emphasize a safety-first approach and express respect for regulatory efforts while seeking additional clarity. The availability of Robinhood Wallet globally via the Apple App Store further expands their reach.

Blockworks - 1200 ngày trước

Bitcoin Ordinals Set to Trigger Adoption Boom, Says Michael Saylor

Michael Saylor, co-founder of MicroStrategy, stated during a podcast that the trend surrounding Ordinals, which allows for the creation of Non-Fungible Tokens (NFTs) on the Bitcoin blockchain, has been a catalyst for Bitcoin adoption during a podcast with Patrick Bet-David of PBD Podcast. He also cited bank failures, hyperinflation, and regulators referring to Bitcoin as a commodity as other catalysts for adoption. Saylor believes that actions such as a company like MicroStrategy buying another $100 million worth of Bitcoin could also serve as a catalyst.

CoinGape - 1201 ngày trước

Tether's Report: Bitcoin and Gold Represent 2% and 4% of $2.44 Billion Reserves

Tether Holdings Limited's Q1 2023 report, confirmed by BDO Italia, reveals an all-time high of $2.44 billion in Tether's excess of reserves, with a focus on Bitcoin and gold holdings representing 2% and 4% of total reserves respectively. The report also highlights $1.48 billion in net profit, strengthening Tether's reserves, and a 20% increase in tokens in circulation, indicating customer trust. The majority of Tether's reserves are invested in US Treasury Bills, and the company is focused on transparency and reducing reliance on bank deposits.

tether - 1201 ngày trước

EY Launches Carbon Emission Tracker on Ethereum Blockchain

EY, the professional services firm, has launched EY OpsChain ESG, an Ethereum-based blockchain platform for enterprises to track their carbon emissions and carbon credit traceability. The platform is now available in beta version on the EY Blockchain SaaS platform. Developed using carbon emission tokens by Microsoft-backed InterWork Alliance, the system aims to increase traceability and provide visibility into firms' progress towards decarbonisation. EY's Global Blockchain Leader, Paul Brody, said ESG chain demonstrated how blockchain technology can link business processes and global ecosystems across enterprise boundaries.

coindesk - 1201 ngày trước

EY Launches Carbon Emission Tracker on Ethereum Blockchain

coindesk - 1201 ngày trước

CBOE Urges Approval for ARK 21Shares Bitcoin ETF Despite Obstacles

The Chicago Board Options Exchange (CBOE) has applied for approval of its ARK21Share Bitcoin ETF for the third time with the United States Securities and Exchange Commission (SEC), in collaboration with Cathie Wood's Ark Invest and crypto investment firm 21. Despite two previous rejections due to investor protection concerns, the CBOE remains persistent in their pursuit of approval for the spot ETF. This shows the potential for the market to grow and offer new investment products, despite the SEC's hesitation and increasing focus on regulating the crypto market.

BeInCrypto - 1201 ngày trước

CBOE Urges Approval for ARK 21Shares Bitcoin ETF Despite Obstacles

BeInCrypto - 1201 ngày trước

Grayscale Continues to Lead the Way in Crypto ETFs with Three New Offerings

Grayscale Investments, a cryptocurrency asset management, has filed a registration statement with the United States Securities and Exchange Commission (SEC) for approval of three new crypto-focused exchange-traded funds (ETFs): the Ethereum Futures ETF, Global Bitcoin Composite ETF, and Privacy ETF. Additionally, the company launched a new entity, the Grayscale Funds Trust, to manage its growing funds in-house. The proposed funds would invest in Bitcoin-related products, Ethereum futures, and blockchain-based privacy technology companies.

cointelegraph - 1202 ngày trước

Marathon Digital's Abu Dhabi Venture Brings Innovation to Crypto Mining

Marathon Digital and Zero Two are partnering to build a 250MW Bitcoin mining facility in Abu Dhabi, despite the desert heat that can reach 28 degrees Celsius. Two mining sites will be constructed with a combined capacity of 250MW, utilizing a custom-built immersion solution to cool mining rigs in the hot desert climate. The project is owned 80% by Zero Two and 20% by Marathon Digital, under the Abu Dhabi Global Markets JV Entity. By 2024, the joint venture aims to produce a combined hash rate of 7 EH-s.

cointelegraph - 1202 ngày trước

Goldman Sachs Exposes 32% of Home Offices Involved in Digital Assets Investment

A recent Goldman Sachs report indicates that cryptocurrencies are gaining popularity among family offices, with 32% currently holding investments in digital assets. The proportion of investments in cryptocurrencies has risen from 16% to 26% since 2021. 19% of investors cited the potential benefits of blockchain technology as their motivation for investing in digital assets. This suggests that cryptocurrencies are gaining a foothold among investors, despite a decline in overall interest in digital assets. Goldman Sachs' success during the recent banking crisis highlights the potential for cryptocurrencies to provide robust returns.

cointelegraph - 1202 ngày trước

Digital Asset Forms Partnership with Deloitte, Goldman Sachs and More for Blockchain Network

Digital Asset, a fintech firm, has launched a privacy-enabled blockchain network called the Canton Network. The network aims to provide a decentralized infrastructure for institutional clients, with participants including BNP Paribas, Deloitte, Cboe Global Markets, Goldman Sachs, Broadridge, S&P Global, and Microsoft. The Canton Network connects applications built with Digital Asset's smart-contract language, Daml, allowing various systems in financial markets to interoperate and synchronize, and execute atomic transactions across multiple smart contracts. The solution is seen as a building block for future digital and distributed financial market infrastructures.

coindesk - 1202 ngày trước

PayPal's Crypto Holdings Exhibit Phenomenal Growth, Approach $1 Billion

PayPal has disclosed $1 billion of cryptocurrency holdings in its Q1 earnings report to the U.S. Securities and Exchange Commission (SEC), representing a 30% increase since Q4 2022. The fintech owns $499 million in Bitcoin, $362 million in Ethereum, and $82 million in Bitcoin Cash and Litecoin. PayPal allows its customers to buy, hold, sell, receive, and send cryptocurrencies and use sale proceeds at checkout, entrusting custody to third-party trusts. This can help drive wider crypto adoption beyond the existing user base.

BeInCrypto - 1202 ngày trước

Crypto Market Success Fuels Galaxy Digital's $134 Million First-Quarter Profit

Galaxy Digital, the New York-based cryptocurrency-focused financial services firm, reported a strong Q1 2023 with $134 million in net income, attributed to gains on digital assets and investments, marking its first profitable quarter since end-2021. Galaxy Digital Asset Management recorded assets under management of $2.4 billion, a 40% increase from the previous quarter but an 11% decrease from the same period in 2022. The cryptocurrency market's rebound, driven by bitcoin's 70% increase in value, led to the company's first profitable quarter since end-2021.

coindesk - 1203 ngày trước

Robert Kiyosaki Recommends Bitcoin Investment as Financial Collapse Looms

Robert Kiyosaki, author of Rich Dad Poor Dad, has warned of an imminent financial collapse following a massive increase in the yield of one-month Treasury Bill (T-Bill). He recommends Bitcoin, gold, silver, and home defense as the best life raft. KKiyosaki also predicts a Bitcoin will soon surge to $100,000, as US banking troubles will drive people to view Bitcoin, gold, and silver as safer investments. He believes these assets are fundamentally sounder than banks, and people should prepare accordingly.

The Daily Hodl - 1203 ngày trước

Dubai Emerging as Key Global Financial Hub for Crypto Innovation, Says Ripple CEO

Ripple is expanding into Dubai, with plans to open a new office in the Dubai International Financial Centre and host its seventh annual customer conference in the UAE capital. CEO Brad Garlinghouse cited the region's recent developments in the crypto regulatory environment and its consumer base as the primary reasons behind the move. Dubai's Virtual Assets Regulatory Authority (VARA) recently published its 2023 rulebook for regulating the crypto industry, as part of the Emirate's bid to become a financial technology hub in the region.

Finbold - 1203 ngày trước

Coinbase CEO Brian Armstrong Expands Company Vision in UAE

Coinbase executives, including CEO Brian Armstrong and VP Nana Murugesan, are in the UAEto explore strategic developments in the region. The UAE is a potential hub for Coinbase, with its clear crypto regulations, dedicated crypto regulator, and strong investor and customer protection. Coinbase plans to engage with policymakers, regulators, partners, and clients to capitalize on the growing adoption of crypto and Web3 in the country, where over 11% of the population own cryptocurrency.

CoinGape - 1203 ngày trước

Liechtenstein's Prime Minister Proposes Bitcoin Payment for Public Services

Liechtenstein's Prime Minister, Daniel Risch, plans to enable citizens to pay for government services with Bitcoin, with payments being converted to Swiss francs. Zug and Lugano have already implemented Bitcoin payments for taxes and public service costs. Liechtenstein's adoption of cryptocurrency follows the implementation of the Liechtenstein Blockchain Act, attracting blockchain-based companies. Risch confirmed the inclusion of a Bitcoin payment option but did not provide details. Liechtenstein's advanced policies and financial industries position it as a unique niche in the global crypto industry.

BeInCrypto - 1204 ngày trước

Deloitte Implements Blockchain to Enhance Digital Credentials

Accounting firm Deloitte has integrated blockchain technology to streamline the verification process using KILT Protocol, a Polkadot parachain. Digital credentials stored in a wallet can be reused for various use cases, including regulatory compliance for banking and DeFi, age verification, private logins, and fundraising. Deloitte can revoke credentials if customer conditions change. KILT's identity solutions allow for control over sharing personal information, while Polkadot provides enterprise-scale security. The integration improves the "typically inefficient" Know Your Customer (KYC) and Know Your Business (KYB) verification processes and safeguards against illegal activity.

cointelegraph - 1204 ngày trước

Crypto Mining Taxes Boost Kazakhstan's Revenue with $7 Million in 2022

Kazakhstan collected 3.07 billion tenge (approximately $7 million) in taxes from crypto mining in 2022, contributing 13.22% of the global Bitcoin hash rate. Despite a decrease in fees, preliminary data shows the government collected 240 million tenge - worth over $541,000 by April 27, 2023. New regulations aim to reduce tax evasion and illegal operations, and the country's adoption of mining taxes is considered a legal path for further adoption amid tightening regulations worldwide. Foreign mining operators relocated to Kazakhstan during the last bull market, indicating positive adoption.

cointelegraph - 1204 ngày trước

Stripe's Fiat-to-Crypto Onramp Aims to Facilitate Digital Asset Transactions

Stripe is launching a new hosted fiat-to-crypto onramp to simplify digital asset purchases. Web3 firms can direct their US-based customers to the link, enabling them to purchase crypto at the point of transaction. The onramp will enable firms to outsource crypto payment processing requirements, including conversion, authorization optimization, fraud prevention, and identity verification. Stripe received thousands of requests for its fiat-to-crypto onramp since December and learned from pilot users that redirecting consumers to an external-hosted onramp separate from their applications was key.

The Daily Hodl - 1205 ngày trước

Coinbase CEO Confirms 100% Dedication to US Market Despite Regulatory Confusion

Coinbase CEO Brian Armstrong confirmed that the company is 100% committed to the US market despite the lack of regulatory clarity. Armstrong expressed his optimism that the US will create clear legislation for cryptocurrencies, given the strong bipartisan support for Congress to do so. He stressed the importance of the US fixing the regulatory issue, as other countries, including financial hubs, are vying for the top position in the crypto space. Coinbase will continue to explore the global market and recently launched a Bermuda-based crypto derivatives platform for non-US institutional clients.

CryptoPotato - 1205 ngày trước

King Charles Coronation NFTs Offered by Britain's Fourth Largest Newspaper

The Evening Standard released a free, open-edition non-fungible token (NFT) commemorating King Charles' coronation. The NFT features an animated copy of "The Oath" by Trevor Jones, depicting St. Edward's Crown. The NFT is available for free on Nifty Gateway until May 7, and there have been 9,200 copies minted so far. Users only need to provide an email address to collect the NFT, but it's unclear if a transaction fee is required.

CryptoSlate - 1206 ngày trước

Kenya Considers Imposing 3% Tax on Cryptocurrency Transfers to Boost Revenues

Kenya plans to impose a 3% tax on cryptocurrency transfers and a 15% levy on monetized digital content to raise domestic revenue and narrow the fiscal deficit. The proposal is part of a bill designed to double tax collections to $37 billion in five years, led by President William Ruto. Despite economic challenges, Kenya is a leading crypto adopter and one of the most developed countries in eastern and central Africa. The legislation could generate $21 billion in revenue in the first year if approved by lawmakers and implemented in July.

CryptoPotato - 1206 ngày trước

White House Aims to Develop Global Standards for Distributed Ledger Technology

The US White House has released a national strategy for eight emerging technologies, including distributed ledger technology (DLT) and digital identity infrastructure. DLT allows for concurrent access and record validation, increasing data reliability and restricting access. The U.S. aims to increase its leadership in developing international standards for these technologies, with DLT and blockchain being widely used in the economic sector, including smart communities and building cybersecurity and privacy-based features and services.

cointelegraph - 1206 ngày trước

Montana Passes Bill Protecting Cryptocurrency Mining Rights

Montana Governor Greg Gianforte has signed a bill protecting cryptocurrency mining in the state, preventing local governments from passing laws against it. The legislation prohibits discriminatory electrical rates for mining firms and forbids taxation on crypto used as payment. It was introduced as a preventive measure in response to similar proposals in other states, such as Texas, where lawmakers introduced a bill limiting incentives for crypto miners. The legislation enshrines miners' rights in Montana and revises existing laws to better regulate digital asset mining.

cointelegraph - 1206 ngày trước

Coinbase's Q1 Earnings Report Shows 23% Revenue Increase to $773 Million

Coinbase reported Q1 revenue of $773 million, beating analyst expectations of $655 million, while trading volume came in at $145 billion versus an estimated $147.7 billion. The company reported an adjusted loss per share of $0.34, lower than the estimated loss of $1.45 per share. Shares have risen 40% this year, in line with bitcoin's 74% rise year-to-date. CEO Brian Armstrong said the company has emerged stronger after its fourth crypto cycle, having shifted the business to operate more efficiently in a down market, driving positive adjusted EBITDA in Q1.

coindesk - 1207 ngày trước

Max Keiser Urges to Buy Bitcoin ASAP as US Banks Collapse

Bitcoin supporter Max Keiser has reiterated his belief that fiat currencies are becoming worthless, with banks in the US being technically insolvent, including the Federal Reserve. Recent incidents involving the bailout or acquisition of large US banks, including First Republic Bank by JP Morgan, support his claims. Smaller banks, such as Signature Bank, Silicon Valley Bank, and Silvergate Bank, have also seen their shares plummet and been closed down. Keiser advises his followers to buy Bitcoin as soon as possible, as he believes it will outperform fiat currencies.

U.Today - 1207 ngày trước

Lisbon Emerges as Most Promising Crypto Hub Worldwide, Outshining Rivals

Lisbon has been ranked as the most promising crypto hub in the world by a survey conducted by Greenfield, followed by New York and Berlin. Lisbon's tax laws, DeFi scene, and access to US talent were cited as reasons for its ranking. New York's access to venture capital and conferences boosted its position, while Berlin's track record and developer pool were praised. Paris, with thriving Web3 and NFT projects, ranked seventh. Universities in the UK, Ireland, and Spain offer crypto-related master's degrees, emphasizing the importance of crypto education.

BeInCrypto - 1207 ngày trước

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 - 1207 ngày trước