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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 - 1207 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 - 1208 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 - 1208 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 - 1208 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 - 1208 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 - 1209 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 - 1209 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 - 1209 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 - 1209 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 - 1209 ngày trước

Bitcoin Believer Balaji Srinivasan Holds Steady on $1M Bet Despite US Debt Woes

Former Coinbase executive Balaji Srinivasan is standing by his prediction that Bitcoin will hit $1 million on the back of a US economic crisis caused by failing banks and hyperinflation. He believes bank runs happen faster in a digital world and sees an exit from the US banking system towards Bitcoin. Despite some viewing his bet as a stunt, Srinivasan says he won't backtrack on his call, citing the rising likelihood of a US sovereign default. Despite the high uncertainty, he is committed to his bullish call on Bitcoin.

The Daily Hodl - 1209 ngày trước

Coinbase Takes on Global Markets with 5x Leverage Perps Exchange

Coinbase is launching the Coinbase International Exchange for international users to trade bitcoin and ether perpetual futures out of Bermuda. The exchange offers a robust trading experience with external market makers providing liquidity, and a liquidation framework that complies with standards. Coinbase plans to begin with bitcoin and ether derivatives, with more listings in the future. Initially, it offers 5x leverage. Perpetual futures account for nearly 75% of global crypto trading volume in 2022, providing high liquidity and additional trading strategies for traders., according to Coinbase.

theblock - 1210 ngày trước

MicroStrategy's Unwavering Bitcoin Investment Strategy Leads to Q1 Profit

MicroStrategy, the business intelligence platform founded by Michael Saylor, has reported a Q1 2023 profit of $94 million and reiterated its commitment to Bitcoin investment. The firm purchased 7,500 BTC in Q1 and now holds 140,000 BTC at an average cost of $29,803. CEO Phong Lee reaffirmed the firm's "strong" commitment to Bitcoin investment. MicroStrategy's chairman Michael Saylor attributed the profitable quarter to executing the firm's core business model and Bitcoin investment strategy, which he described as the "right strategy."

cointelegraph - 1210 ngày trước

Raoul Pal Says Crypto Will Outpace Traditional Assets Amid Currency Debasement

Raoul Pal, former Goldman Sachs executive and Real Vision founder, predicts that currency debasement will continue, which will negatively affect the majority of people. He believes that high-quality crypto and tech stocks are the only assets that can outrun this debasement, as they have the highest beta to global central bank balance sheets. Pal says that Bitcoin, which was invented for this purpose, and Ethereum are available to anyone and offer opportunities for profit.

The Daily Hodl - 1210 ngày trước

Bitcoin's Transactions Surge to an All-Time High

Bitcoin set a new record for daily transactions, with over 568,300 processed on Sunday, exceeding the previous high during the 2017 bull run by nearly 78,000. Over 307,000 transactions involved Ordinals, a feature introduced in January that allows users to attach data to individual Satoshis, the smallest unit of Bitcoin, creating a unique digital asset similar to NFTs. Ordinals constituted approximately 54% of Bitcoin's daily transactions at the peak. The high usage of Ordinals signals a significant change in Bitcoin mempools, according to Glassnode.

Blockworks - 1210 ngày trước

Jack Dorsey's Nano Bitcoin Mining Chip Prototype a Potential Game Changer

Block, owned by Jack Dorsey, has developed a prototype 5 nanometers (5nm) Bitcoin mining chip to decentralize the industry and reduce concentration in the hands of a few companies. Block aims to make the technology open source and will sell standalone ASICs and hardware components to promote innovation. The company has bought a large batch of ASIC chips from Intel to expedite the development of its proprietary 3nm chip, which it claims will be the most advanced chip to date.

cointelegraph - 1211 ngày trước

Bitcoin Whales Add 64,094 BTC to Their Stash Worth $1.8 Billion

Bitcoin whales have accumulated almost $2 billion worth of BTC during its latest price dip, with investors holding between 100 and 10,000 BTC adding over 64,000 BTC to their stashes since April 11th, according to Santiment. Meanwhile, IntoTheBlock reports that market participants have sent over $1B in BTC to centralized crypto exchanges in the past week, possibly for selling. Two previously dormant BTC whales have also recently emerged, with one moving $10 million and the other transferring over $60 million worth of Bitcoin.

The Daily Hodl - 1211 ngày trước

Bhutan Confirms It's Been Mining Bitcoin For a Long Time Using Renewable Energy

Bhutan's government-owned holding company, Druk Holding and Investments (DHI) has confirmed that it has been mining Bitcoin for several years as part of its diversified portfolio. DHI officials assured that the risks associated with cryptos are mitigated, and the investment pays for itself by selling Bitcoin to cater to mining operational costs. The mining operation is powered by Bhutan's renewable energy source, generated through hydro projects. The venture into crypto mining is part of Bhutan's efforts to spur economic growth, with technology viewed as a key element.

Finbold - 1211 ngày trước

Bitcoin Could See 68% Jump if US Defaults on Debt, Standard Chartered Says

Market analysts predict a potential rise in Bitcoin's value if the United States defaults on its debt. Standard Chartered's Geoff Kendrick believes Bitcoin could reach $49,000, a 68% growth from its current value, due to its reputation for performing well in times of stress. Kendrick suggests that Bitcoin's safe haven status makes it an optimal trade, unlike other cryptocurrencies that may trade like stocks and fall during a default. Despite expecting some volatility, Kendrick expresses his bullishness towards Bitcoin, predicting it could reach $100,000 by the end of 2024.

Finbold - 1212 ngày trước

Millennials Fueling Crypto Boom With 46% of Them Owning Cryptocurrencies

Bitget conducted a survey of 255,000 individuals from 26 countries on their cryptocurrency activities between July 2022 and January 2023. Millennials topped the chart for virtual assets participation, with 46% owning crypto, followed by Gen X (25%), Gen Z (21%), and baby boomers (8%). Additionally, 27% of Millennials and 36% of Gen Z respondents emphasized the importance of crypto regulations. Furthermore, a Charles Schwab survey in the US revealed that 46% of Gen Z and 45% of Millennials want virtual assets added to their retirement funds.

Bitcoinist.com - 1212 ngày trước

US Banking Uncertainty to Drive Bitcoin Higher, Says BitMEX Co-founder Arthur Hayes

The uncertainty surrounding First Republic Bank (FRC) and the potential expansion of the Federal Reserve's emergency bank loan program, according to co-founder of BitMEX and crypto industry veteran Arthur Hayes, will cause Bitcoin (BTC) to rise. He thinks the Fed will increase market liquidity, which might increase the value of BTC and other risky assets. Hayes says that if the Federal Deposit Insurance Corporation (FDIC) takes over First Republic Bank, the Feds may expand the emergency bank loan program, resulting in more market liquidity and a rally in BTC.

The Daily Hodl - 1212 ngày trước

Crypto Oversight Bill To Be Introduced By U.S. House Within 2 Months

The U.S. House Financial Services and Agriculture Committees will draft legislation to regulate the crypto sector in the next two months, with the potential for President Joe Biden to sign within a year, said Rep. Patrick McHenry. The bill will address securities and commodities regimes and national security issues. Senator Cynthia Lummis, has also introduced a bipartisan bill for a regulatory framework, which she said will be stronger on national security and cybercrime. Meanwhile, pressure is mounting for Congress to legislate the crypto industry following recent banking and exchange collapses.

coindesk - 1212 ngày trước

Bitcoin Prices Expected to Skyrocket at Upcoming Halving Event

A report by Hamburg-based multinational investment bank, Berenberg suggests Bitcoin may outperform the market due to its commodity classification, decentralized blockchain protocol, and the upcoming halving that will reduce the rate of new coin production. The report states that Bitcoin is the only digital asset categorized as a commodity by the SEC. Bitcoin's halving cuts miner rewards in half, with the current reward of 6.25 BTC to be reduced to 3.125 by next spring. Berenberg predicts that the halving could cause a significant price increase for Bitcoin.

Decrypt - 1213 ngày trước

Binance Crypto Exchange Breaks Records with $1.5B Bitcoin Inflow in 30 Days

Binance, the largest crypto exchange by volume, received over $1.5 billion worth of Bitcoin in the last 30 days, with 51,386 BTC received this month alone, according to Coinglass. The exchange currently holds 588,129 BTC, and saw 22,590 BTC come in during the last seven days and almost 5,000 in the last 24 hours. Meanwhile, other exchanges experienced significant outflows, while Kraken and Gate saw upticks. Overall, 13,888 BTC flowed into exchanges this month, with Binance being the primary beneficiary.

The Daily Hodl - 1213 ngày trước

Bitcoin HODLers Remain Bullish, Adding 15,000 BTC Per Month

On-chain analytics firm Glassnode reports that Bitcoin HODLers, or long-term holders, are currently accumulating their holdings at a rate of 15,000 BTC per month. Despite selling during the bear market lows, HODLers have been showing strong accumulation behavior over the past few years. They have continued to add to their holdings throughout the current rally, suggesting long-term bullish sentiment. The monthly amount they have been adding to their holdings has been trending down, but the HODLer net position change remains positive.

Newsbtc - 1213 ngày trước

Global Payment Giant Mastercard Expands Payment Network with Crypto Firm Partnerships

Mastercard is planning to expand its cryptocurrency payment card program by seeking more partnerships with crypto firms, according to the company's head of crypto and blockchain, Raj Dhamodharan. Despite increased regulatory scrutiny and bank caution, Mastercard has already partnered with Binance, Nexo, and Gemini to offer crypto-linked payment cards in select countries. Mastercard aims to provide access to crypto safely, and users of its network undergo compliance checks. The company is also investing in crypto analytics technology, and is enthusiastic about blockchain technology, which powers cryptocurrencies.

U.Today - 1213 ngày trước

Binance Plans to Re-enter Japan via Regulated Exchange SEBC

Binance plans to reenter Japan after acquiring the licensed exchange platform, Sakura Exchange Bitcoin (SEBC). SEBC will terminate its services by May 31 and reopen as Binance Japan in June 2023, following identity verification and Know Your Customer checks. Users of SEBC must withdraw funds before May 28 or have them automatically converted to Japanese yen by June 5. Binance has reentered other markets by acquiring stakes in regulated entities after facing regulatory compliance issues. Japan eased regulatory demands for crypto platforms, making it easier to list new tokens.

cointelegraph - 1213 ngày trước

Robinhood Launches Fiat-to-Crypto On-Ramp for Decentralized Applications

Robinhood has launched "Robinhood Connect," a fiat-to-crypto on-ramp allowing users to buy and sell cryptocurrency directly to and from their self-custody wallet or natively in DApps. The service integrates with Web3 projects, allowing developers to embed it directly into applications. It is currently available in MyDoge, Giddy, and Slingshot ecosystems, with Exodus and Phantom support coming soon. Robinhood hopes to bring more people into the cryptocurrency space and break down the hurdles preventing broader adoption.

cointelegraph - 1213 ngày trước

US Government's Bitcoin Holdings Worth a Whopping $6 Billion: Glassnode Data

Glassnode data shows that the US government holds 205,514 BTC, valued at $6 billion, acquired through seizures like the Bitfinex hack and Silk Road takedown. The government's BTC holding is higher than that of whales like MicroStrategy, while the pseudonymous creator of Bitcoin, Satoshi Nakamoto, holds the most with 1 million BTC. In March, the US government sold 9,861.17 BTC for $215.5 million and is expected to sell more. Industry players have criticized the government's selling approach, as holding could have led to more profits.

CryptoSlate - 1213 ngày trước

Paypal Holdings, Inc. Announces New Feature Enabling Venmo Customers To Transfer Cryptocurrency

Venmo is introducing crypto transfers, enabling users to send cryptocurrencies to friends, family, PayPal accounts, and external wallets. The feature aims to provide more choice and flexibility in managing crypto assets and will be rolled out starting May 2023. This development is expected to strengthen Venmo's position in the crypto ecosystem, increase its user base, and encourage further adoption of cryptocurrencies.

PayPal Newsroom - 1214 ngày trước

$779 billion asset manager Bernstein Says Buy Bitcoin Amid US Banking Crisis

Renowned asset manager AB's Bernstein highlights the potential of bitcoin as an alternative financial system amid the U.S. banking crisis. They predict the Fed will resort to money printing, reinforcing bitcoin's role as digital gold. As a safe haven asset, bitcoin is expected to drive a new crypto cycle, encouraging mass migration to self-custody wallets and increased adoption of decentralized finance. Bernstein's influence lends credibility to this optimistic outlook for bitcoin.

BeInCrypto - 1214 ngày trước

Samsung Partners With Crypto.com for Optimized Z Fold Crypto Trading

Crypto.com has partnered with Samsung to optimize its app for Samsung Galaxy Z Fold devices, becoming the first digital asset platform to offer a tailored experience for the devices. The new update, Version 3.158.1, will allow users to compare a range of tokens more efficiently on a single screen. The partnership aims to provide a more engaging mobile experience for their customers, offering more tools and resources. Eric Anziani, COO of Crypto.com, said the collaboration will provide a more productive way of using the app for trading and analysis of cryptocurrencies.

CryptoPotato - 1214 ngày trước

NY Investment Bank H.C. Wainwright Claims Crypto Bull Market Has Started

H.C. Wainwright, a New York-based investment bank, has declared the end of crypto winter, stating that the crypto market is likely to have entered into bitcoin’s next bull cycle. The bank observed that overall crypto asset prices have rallied 45% year-to-date, supported by a 67% increase in the price of Bitcoin. The bank stated that this bullish sentiment typically precedes a Bitcoin halving cycle and will result in significant growth in total crypto market cap, incremental retail and institutional adoption, and higher crypto trading volumes.

cointelegraph - 1214 ngày trước

Financial Experts Endorse Bitcoin for Long-term Retirement Savings

David Ramirez, CEO of 401(k) provider ForUsAll, recommended investing in Bitcoin through an individual retirement account (IRA) or a 401(k) due to tax benefits and lower portfolio risk. Speaking at Consensus 2023 Festival, Ramirez emphasized that personal responsibility for retirement savings is crucial, and people should have the freedom to choose investment strategies that suit them. He also stated that confidence in social security to provide for retirement is low.

coindesk - 1214 ngày trước

Hong Kong to Launch Crypto Licensing Framework Guidelines in May

Hong Kong's Securities and Futures Commission (SFC) is set to release guidelines for a crypto licensing framework in May. The framework, effective by June 1, will require crypto platforms to register with authorities, allowing licensed exchanges to offer major cryptocurrencies, like Bitcoin and Ethereum, to retail traders. This move reinforces Hong Kong's goal to become a leading cryptocurrency hub in Asia, with existing exchanges like Hashkey and OSL already offering crypto trading services. With the backing of the city's banking sector, more crypto firms may look to establish a presence in Hong Kong.

cointelegraph - 1215 ngày trước

Bitcoin-Gold Correlation Hits 3-year High Amid Regional US Bank Stress

Bitcoin's correlation with gold is strengthening, reaching a 30-day rolling correlation of 57%, the highest in almost two years, according to Kaiko. On a 90-day rolling basis, the correlation between Bitcoin and gold is at a three-year high of 86%. This is seen as a positive sign as the regional banking sector in the US faces further stress. First Republic Bank's share price fell by 17%, and the US government is reportedly unwilling to intervene, highlighting Bitcoin's potential as a safe haven asset.

Bitcoin Insider - 1215 ngày trước

Franklin Templeton Embraces Ethereum Scalability with Polygon Integration

Franklin Templeton's OnChain U.S. Government Money Fund (FOBXX), with over $270 million AUM, will now use the Polygon blockchain to be more compatible with the digital ecosystem. It is the first US-registered fund to use blockchain for transactions and share ownership. The fund also plans to use Stellar for transaction activity. Polygon is an Ethereum-based scaling platform. Investors can purchase FOBXX shares via the Benji Investments app. Colin Butler, Global Head of Institutional Capital at Polygon, praised Franklin Templeton for being at the forefront of tokenizing assets.

Decrypt - 1215 ngày trước

Austrian Bank Raiffeisenlandesbank Dives into Crypto Investment

Austrian cooperative banking firm Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) is partnering with Bitpanda, an Austrian crypto firm, to offer crypto investment services alongside stocks, ETFs, and commodities. The move will allow RLB NÖ-Wien customers to invest in various assets regardless of their available capital, with investments as low as €1 possible. Bitpanda plans to make trading available by the end of 2023 and will offer RLB NÖ-Wien customers the full range of its digital asset offering, which includes over 2,500 assets such as Bitcoin and Ether.

cointelegraph - 1215 ngày trước

Binance.US and Unstoppable Domains Join Forces for Crypto Domain Names on Polygon

Binance.US has teamed up with Unstoppable Domains to offer .BinanceUS domain names to its users on Polygon. The domains will be available through Binance.US's app in the coming weeks, with the company expected to issue two-digit domain names for the first time. Unstoppable Domains also offers .crypto and .nft domains. The partnership will enable Binance.US customers to buy, sell and send cryptocurrencies within the app, and Unstoppable Domains customers will be able to use Binance.US to withdraw crypto to any Unstoppable domain.

theblock - 1215 ngày trước

Deloitte Signals Strong Interest in Cryptocurrency with Job Openings

Deloitte is actively seeking crypto experts, with 331 US-based positions available on LinkedIn, including Blockchain & Digital Assets Manager, Tax Manager for Blockchain & Cryptocurrency, and Tax Manager for Blockchain & Cryptocurrency in NFTs. This comes as Deloitte signals its willingness to work with crypto firms, as evidenced by Circle hiring Deloitte to audit its proof-of-reserves. The listings suggest applicants will lead teams to provide audit readiness for blockchain and digital asset transactions, design governance models, and identify new risks.

Blockworks - 1215 ngày trước