BestChange monitor is a comfy and easy way to exchange

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Netflix will be the next BTC buyer

Popular streaming service Netflix is ready to buy bitcoins. The decision is dictated by the policy of the reserve management service. This opinion was expressed by venture investor Tim Draper. “You know who it might be? Netflix. I think [CEO] Reed Hastings is a very innovative guy and has a lot of creative thinking and I think he still controls the reins at Netflix and so I think that might be the next big one to fall, ” Draper said. The entrepreneur also believes that the largest trading platform Amazon will add BTC as a means of payment. He noted that customers of the marketplace have been buying goods using cryptocurrencies indirectly for a long time.

EOS creator launches decentralized social network Clarion

EOS developer Dan Larimer announced the launch of the decentralized social networking project Clarion. The goal of the project is to create decentralized networks that allow people to communicate without relying on intermediaries. “Clarion OS is just getting started and is in the early design stage. We are assembling a team of developers to build the first prototypes. This project will be developed in the open and welcomes contributions from anyone interested in restoring the internet to the level of logical decentralization that was intended before Big Tech locked us into their services and stopped producing tools that empower people,” Larimer wrote in the GitHub community. According to the developer, he took into account the mistakes associated with his early projects. Clarion will support text and video messaging, voice chats and the ability to publish content.

Survey: 11% of Institutions said their company trades or invests in cryptocurrencies

JPMorgan analysts surveyed more than 3,000 respondents from 1,500 financial institutions. Researchers have found that most institutional investors are not willing to invest or trade digital currencies. 11% of respondents indicated that their company trades or invests in cryptocurrency assets. 22% of respondents answered that they consider it possible to engage in cryptocurrency transactions. 14% of survey participants believe that the cryptocurrency market will collapse, and 7% of those surveyed said that cryptocurrencies will become the most important assets. 58% of respondents are confident that digital assets will be a permanent feature in the financial markets. 21% of the surveyed said that cryptocurrencies are of temporary nature.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Investors are more interested in Cardano than BTC

Voyager Digital, a cryptocurrency broker, has published a new study, which says retail investors are more positive about the growth prospects of Cardano than BTC. However, 80% of investors intend to purchase more Bitcoins this month. More than 31% of respondents are optimistic about ADA growth, according to the study. 22% of the survey participants spoke out in favor of Bitcoin. ETH ranks third in popularity among investors. 12% of the respondents voted for it. “This clearly demonstrates the enthusiasm that our user base has towards cryptocurrencies, both from the investment and trading perspectives. Of course, everyone is talking about Bitcoin these days, but seeing Cardano coming ahead of it was a really big surprise for us” CEO of Voyager Digital Steve Ehrlich said.

Expert: Bitcoin price will rise

The main crypto-coin will continue to win back the previous falls. Its price may approach the $ 57,200 mark, says Vladimir Panushkin, head of the Center for Social Matrix Technologies "Socioma". “Although the general psychological background remains very active, pushing the bitcoin exchange rate up, the sentiment of many participants still remains restrained. Recovering the previous falls, today the first cryptocurrency can approach the mark of $57,200 per coin, ” the expert said. According to Coinmarketcap data, the bitcoin rate continues to rise. On March,10 the main cryptocurrency cost around $ 55,143.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
NFT searches hit a record high

According to The Block Research, the number of searches for non-fungible tokens in the Google search engine has reached an all-time high. According to NFT Non-Fungible data for 2020, the industry has grown by 300% compared to the previous period, and the volume of this market has increased by about $ 250 million. The number of weekly users of NFT platforms also testifies to the growth of attention. Over the past week, it amounted to almost 400,000 people. Not only media and ordinary investors show interest in NFT, but also media personalities. Elon Musk previously announced his readiness to sell his NFT token for 420 million Dogecoin.

A well-known financial consultant admitted that he was wrong with his bitcoin strategy

Stock market star Dave Portnoy wrote on his Twitter page that he made the mistake of selling his BTC too early. In his words, the investor did not understand the dynamics of the growth and fall of the most popular crypto coin. Earlier, the founder of Barstool Sports acquired BTC for $1 million. However, he quickly became disillusioned with this asset and sold bitcoins at a price below $12,000. “I want to congratulate all my bitcoin people out there. When you're wrong, you're wrong. I fucking paper-handed, sold it. I fucking can't take bitcoin, the ups and downs. I wish I had it. I took all my money and I put it in what I think I know, and what I can control. I don't know bitcoin. I fucked up, ”Portnoy said in his video message to crypto enthusiasts.

JPMorgan: retail investors are more interested in bitcoin than institutional ones

Analysts at JPMorgan concluded that in the first three months of 2021, retail investment in BTC exceeded that of institutional investors. The latter began to buy less cryptocurrency. Analysts do not exclude that a decrease in the volume of investments from institutions may be one of the reasons that bitcoin could not stay above the $60,000 mark. According to JPMorgan, retail investors bought over 187,000 BTC, while institutional investors bought about 172,684 BTC. According to the Japanese investment company Mizuho Securities, about $40 billion of the $380 billion that American citizens will receive in the form of incentive payments can be invested in bitcoins and stocks.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Messari thinks ETH can get ahead of BTC

Ryan Watkins, senior analyst at analyst firm Messari, believes that ETH could displace BTC from the first place in the ranking of cryptoassets in terms of capitalization. This can happen after the transition to the second version of the Ethereum protocol. “The selling point of Bitcoin over Ethereum as a store of value asset boils down its monetary policy being very predictable and the Bitcoin blockchain being very secure. I think that with the shift to Eth2 and to proof-of-stake, [...] Ethereum may actually potentially be more secure than Bitcoin,” said Watkins. The analyst noted that a "massive and diverse" economy is based on the Ethereum blockchain. The actively developing direction of decentralized applications will attract new users faster than BTC, he is sure.

Bank of America analyst: buying 1 BTC is "like owning 60 cars"

Bitcoin is useless as a store of value or payment instrument. The only reason to become a holder of BTC is its growing price. This is the opinion of analysts at Bank of America, whose report is called "Little Dirty Secrets of Bitcoin." One of the authors of the report, Francisco Blanch, is confident that BTC cannot be a safe-haven asset due to the fact that it is not tied to inflation and has serious volatility. The analyst pointed out that about 95% of bitcoins are held by the owners of 2.4% of wallets, and this may become an obstacle to the global introduction of the crypto coin. “As such, the main portfolio argument for holding Bitcoin is not diversification, stable returns, or inflation protection, but rather sheer price appreciation, a factor that depends on Bitcoin demand outpacing supply,” said Blanch.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Anthony Scaramucci: bitcoin will repeat Amazon's success

Anthony Scaramucci, the founder of the SkyBridge Capital hedge fund, is confident that in the long term, the main cryptocurrency will be able to repeat the success of Amazon. According to the entrepreneur, bitcoin volatility will gradually decrease simultaneously with the massive acceptance of this asset by society. “Amazon now, 20 years later, is trading with more stability. It got a very big pop because of the pandemic, but just take a look at its long-term chart, and I think that will happen to bitcoin,” Scaramucci said. The total number of bitcoins is limited to 21 million coins. According to CoinDesk, about 18.66 million coins have already been mined. At the same time, about 15.5 million are in circulation, since access to wallets from 15% to 20% is considered completely lost according to various expert estimates. Cryptocurrency proponents see this as one of the prerequisites for the price of BTC to rise as demand continues to outstrip supply.

Federal Reserve is confident that CBDC will not replace fiat

The head of the US Federal Reserve System Jerome Powell expressed the opinion that digital currencies of central banks (CBDC) will not become a substitute for conventional money. CBDCs will coexist with them. According to Powell, not only the government, but also the private sector should be engaged in improving the global payment system. “CBDC needs to coexist with cash and other types of money in a flexible and innovative payment system,” said the Federal Reserve Chair. At the same time, experts from the Bank for International Settlements (BIS) conducted their research on the estimated future of global payments and the interaction of different CBDCs. BIS expects countries whose central banks will also start launching their CBDCs to continue to emerge, leading to interoperability issues between different digital currencies. Experts emphasize that CBDC will need to compete with those private stablecoins that already exist. In addition, the researchers announced the possible emergence of a global stablecoin, but whether it will be a digital dollar issued by the US Federal Reserve or another CBDC in BIS is not yet sure.

Jack Dorsey sells an NFT tweet for $2.91M

Twitter founder Jack Dorsey sold his first tweet in the form of a non-fungible token (NFT) for $ 2.91 million. He promised to convert the proceeds from the sale into bitcoin and donate to charitable foundation GiveDirectly. On March 6, 2021, Dorsey put up a post for sale with the text " just setting up my twttr” " as an NFT. According to the auction data, the lot was bought by the founder of Bridge Oracle, Sina Estavi, but the founder of Tron, Justin Sun, also actively participated in the auction. Jack Dorsey is considered one of the most famous Bitcoin proponents. The cryptocurrency division of the company he founded and manages, Square, has repeatedly invested in bitcoin and financed the developers of the first cryptocurrency. Earlier, the Canadian analytical company NonFungible predicted the growth of the NFT market by several times in 2021.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
ESMA warns of risks associated with BTC

The European Securities and Markets Authority believes that cryptocurrencies pose a certain threat. A new report from the agency talks about the risks of losing funds when investing in digital currencies, for example, in BTC. ESMA believes that some crypto assets are "very risky and speculative." And the lack of regulation really deprives investors of any guarantees and security. “Consumers must be alert to the high risks of buying and/or holding these instruments,” the report says.

Ray Dalio says that the US may ban cryptocurrency

The famous American financier Ray Dalio spoke about the high probability of a ban on bitcoin in the United States. The entrepreneur drew a parallel with the decision of the authorities to confiscate gold from citizens during the Great Depression. “Every country treasures its monopoly on controlling the supply and demand. They [the authorities] don’t want other monies to be operating or competing, because things can get out of control, ”Dalio said. According to the billionaire, the first crypto coin has proven itself excellently since its inception. Bitcoin has quite a few fans, and its blockchain has not been hacked. “It is an alternative, in a sense, store hold of wealth. It’s like digital cash. And those are the pluses,” concluded Dalio.

President of Microsoft Corp. spoke out against digital assets

IT companies do not need to issue currencies, the authorities should be engaged in this. This point of view is shared by the President of Microsoft Brad Smith. “The money supply almost uniquely needs to be managed by an entity that is responsible to the public and thinks really only about the public interest, and that means governments,” said the top manager of the company. Earlier, Microsoft announced the launch of a decentralized identifier network powered by the BTC blockchain. It was reported that the solution will allow the creation of DIDs and can be used on social networks.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
PayPal users will be able to pay with cryptocurrency at 29 million points of sale

In the near future, PayPal customers will be able to pay for their purchases at 29 million retail outlets using cryptocurrency. For purchases, one will be able to use BTC, ETH, as well as Bitcoin Cash and Litecoin. At the time of payment, PayPal users will be able to convert crypto coins to fiat. "This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet," said CEO of the company Dan Shulman. PayPal has no plans to charge a transaction fee when placing an order using digital currencies. Only one type of cryptocurrency can be selected for each purchase.

Cryptanalyst: Selling BTC now is crazy

Well-known crypto enthusiast and analyst Willy Woo believes that now it’s not a good time to sell bitcoins. He is confident that this year will be a year of "insane optimism" for BTC, as the current rally is in its "final explosive phase." “You’d be crazy to sell right now. There’s more buying the dip than ever seen before, a new record for 2021 and we know the person that’s buying the dip is Rick Astley and he’s not going to let us down,” Woo said jokingly. He also stated that the cryptocurrency is currently "at the bottom", so Woo is "building up his long positions."

Visa will process payments in USDC stablecoin

Visa payment system has launched a pilot program in collaboration with cryptocurrency company Crypto.com. According to the company, the pilot program will allow USD Coin (USDC) to be sent directly to Visa Ethereum addresses. Anchorage digital bank will become Visa's settlement agent when working with USDC. The company has taken the development of this direction seriously. In December last year, Visa already connected its global network to USDC and announced the release of a card with support for payments in stablecoin. In February, the company began testing a set of application programming interfaces (APIs) that will allow traditional bank customers to buy and sell digital assets. “We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we’re seeing demand from our clients to be able to build products that provide that access for consumers," Cuy Sheffield, head of crypto at Visa, said. In the future, Visa plans to process payments in central bank digital currencies (CBDC). Visa CEO Alfred Kelly said earlier this month that the company aims to reach out to stablecoins as well as Bitcoin and other cryptocurrencies. “We're trying to do two things. One is to enable the purchase of Bitcoin on Visa credentials. And secondly, working with Bitcoin wallets to allow the Bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted, "Kelly said. The new program at Visa is described as a “small step” for the payment platform, but “a giant leap” for the proliferation of digital assets.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Elon Musk wants to send Dogecoin into space

The head of SpaceX, Elon Musk, wrote on his Twitter page that he intends to send a crypto coin to the moon. After that, the token went up in price by 30%. "SpaceX is going to put a literal Dogecoin on the literal moon," the entrepreneur wrote, without elaborating on the details of his plan. SpaceX's lunar mission is set to take place in 2023. However, users note that Musk's statement may be an April Fool's joke, so you shouldn't take it seriously. As of April 1, according to CoinDesk, the DOGE price is at $0.069. Before Musk's tweet, the coin was worth about $ 0.054.

Total crypto market capitalization sets new all-time high above $1.9T

Amid another bullish trend on cryptocurrency markets, total crypto market capitalization has broken a new historical record just under $2 trillion. The market cap of all cryptocurrencies surpassed $1.9 trillion on March 31, according to data from major crypto monitoring resources like CoinGecko and CoinMarketCap. The total market cap reached as high as $1.99 trillion earlier on the day, hitting a new all-time record. In hitting its new historical high, the total crypto market capitalization has overtaken the market cap of oil and gas giant Saudi Aramco, the world’s second most valuable company by market cap after Apple. According to data from TradingView, Saudi Aramco’s market cap amounts to about 7 trillion Saudi riyals, or $1.86 trillion at the time of writing. After surpassing the market cap of Google stock at above $1.4 trillion in February, the total crypto market cap has continued flipping the world’s largest companies including Amazon and Microsoft. At publishing time, Amazon and Microsoft’s respective market capitalizations are $1.5 trillion and $1.7 trillion.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Raiffeisenbank analysts predict that 10% of countries will issue their own crypto coins by 2025

10% of countries will issue national digital currencies by 2025 and launch platforms for exchanging such assets. This is stated in a new report by Raiffeisenbank. Analysts are confident that the authorities of various states will need a little time to form a regulatory framework, and tokenized assets will become a tool for investment and savings.

Erik Voorhees claims the biggest event in crypto this week isn’t Coinbase’s listing

According to Erik Voorhees, ShapeShift CEO and crypto industry stalwart ,Coinbase’s listing isnt’t the biggest event in crypto this week. He says, that the launch of ThorChain is arguably the biggest event in crypto this week, which is a pretty big claim. ThorChain’s launch is scheduled for Tuesday and will mark the first time that native crypto assets can be traded on a decentralized exchange across unique blockchains without bridging technology or wrapping tokens. Voorhees twitted: “Thorchain has no bridges. It has no wrapping. It is native assets, swapped across chains in a decentralized way, for the first time ever,” Voorhees exclaimed. To swap BTC for ETH, for example, the exchange would trade the BTC for RUNE, which is then swapped for ETH. This is all carried out at high speed to ensure the user is not impacted by the intermediary trade. ThorChain is also developing a native wallet called AsgardEx, which will be built to interact directly with the “chaosnet,” allowing the tokens of unique blockchains to be held by a single wallet. The platform’s native token, RUNE, has been on fire recently, surging 13% over the past 24 hours to reach an all-time high of $12.65, according to CoinGecko.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
After listing, Coinbase turned out to be more expensive than NASDAQ, on which it was listed

On April 14, trading in shares of the cryptocurrency platform Coinbase began on the NASDAQ. After the start of trading, the share price rose to $381 at the set reference price of $250, and after a while the securities rose in price to $429. By the end of trading, Coinbase's capitalization reached $86 billion. As of April 15, the share price on the US premarket hovered around $344. On Thursday, at the premarket, the crypto platform's securities rose 11% to $365. At this rate, Coinbase is even more valuable than Nasdaq and the Intercontinental Exchange, which owns the New York Stock Exchange, combined. The media compared the placement of the company of Brian Amstrong and Fred Ersam to the "debutante ball" of the crypto business.

Ethereum has been hardforked

Today, April 15, a hard fork “Berlin” took place on the Ethereum mainnet. Due to this, the algorithm for calculating the amount of commissions for transactions within the network has been changed, and new types of transactions have been introduced. The hard fork took place at block # 12,244,000. Many community members supported the event as it can have a positive impact on the Ethereum price. According to Coinmarketcap, the price of ETH has increased by more than 21% over the past 7 days. On the eve of the hard fork, the price of the crypto coin has renewed its historical maximum and reached $2,441.

Bitcoins stolen from Bitfinex users moved to unknown addresses

Yesterday, April 14, about 10% of the bitcoins stolen in 2016 from the Bitfinex crypto exchange started moving. About 12,200 BTC were moved to unknown addresses. Their total cost is estimated at about $770 million. “We believe that the BTC transfers started during the trading for Coinbase's direct listing. The media shields allows them to at least get less publicity, considering there are fewer people tracking their movements or reporting it ... everyone's focused on the Coinbase listing,” says research analyst at Trade the Chain Nick Mancini. And Cinneamhain Venture partner Adam Cochran noted that "the bitcoins stolen from Bitfinex are the most tracked and blacklisted ones around the world." “No exchange will process them. They can basically never be cashed out,” the crypto enthusiast is confident.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
DOGE has prerequisites for growth

Dogecoin has risen over 300% in the last 7 hours, according to Coinmarketcap as of April 20. The crypto coin costs $0.3.As Messari analyst Ryan Watkins wrote on Twitter a few months ago, DOGE's $50 billion capitalization level was beyond his imagination. "DOGE is really going to $1 isn't it?" he asked his followers. Crypto enthusiasts are optimistic about the growth of the Dogecoin rate. One of the prerequisites for this was the news that the largest retailer of computer components and electronics Newegg has provided its customers with the opportunity to pay for goods in DOGE. The marketplace has entered into a partnership agreement with the Bitpay service, working with altcoin since March 2021.

The main cryptocurrency may continue to fall to the level of $ 52'000

The first crypto coin may continue to fall and reach the level of $ 52'000. This is stated in the column of NewsBTC analyst Aayush Jindal. "If bitcoin remains stable above the $54,000 level, it could attempt an upside break. The first key resistance is near the channel trend line at $56,000," the crypto enthusiast believes, noting that this is where a large number of sell orders are located.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Gemini: More than half of US residents are interested in cryptocurrencies

More than 50% of Americans are interested in digital currencies, according to a Gemini study. The platform surveyed about 3,000 Americans. 63% of respondents showed interest in digital currencies. About 14% of respondents own digital assets, and 13% are ready to purchase them in the coming year. Gemini believes that the number of cryptocurrency owners could double within a year. 77% of those surveyed said they would like to learn more about digital currencies, whether they own them or not. Gemini CEO Noah Perlman noted that trading platforms that emphasize user safety make digital currencies more accessible and attractive.

Weiss Ratings did not see the risks associated with ETH

Analysts at Weiss Ratings did not notice any threat to ETH's position from similar projects in the near term. Cryptocoins are often criticized for insufficient bandwidth and rather serious commissions for operations. “Many people say that other blockchains are “ catching up with ETH”, but we are extremely skeptical about that. It's all too reminiscent of 2017, when the self-proclaimed Ethereum killers sacrificed decentralization to be faster and cheaper. We all know how it ended. For many of these projects, the only hope to survive is to become an Ethereum sidechain,” Weiss Ratings analysts wrote on Twitter. Today, the main competitor to Ethereum is Binance Smart Chain. But there are bandwidth issues on this blockchain - recently, the development team of the PancakeSwap exchange reported about the congestion of the BSC network.

The head of BitMEX spoke about the company's plans

The head of BitMEX, Alexander Heptner, allowed the company to enter an IPO, invest in SPAC or issue tokens. It is about implementing a new platform strategy. BitMEX is ready to go beyond the usual business by adding spot trading, broker services, custodial services, and information products to the platform. The platform is poised to become "one of the world's largest regulated crypto derivatives exchanges and a powerful catalyst for change in the financial services industry." “I joined BitMEX at the beginning of the year with a very specific mission to help expand the focus on crypto derivatives and beyond. It's time to actively build up our user base,” said Alex Hoptner, CEO of the crypto exchange.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Economist: BTC already consumes more electricity than the Netherlands

Italian economist Fabio Panetta is confident that mining digital currencies carries risks for ensuring environmental safety. A member of the board of the European Central Bank believes that "colossal electricity consumption" and carbon emissions from the mining of crypto assets can negatively affect socio-economic development. The ECB notes that due to the pandemic, the volume of carbon dioxide emissions has decreased. But experts say this has a temporary effect. Panetta believes that cryptocurrency mining poses a potential threat to international environmental security. “Bitcoin alone is already consuming more electricity than the Netherlands. Controlling and limiting the environmental impact of crypto assets, including through regulation and taxation, should be part of the global discussion,” Panetta said.

eBay users will be able to trade NFT

The e-commerce platform eBay has released a statement that its users can now buy and sell non-fungible tokens on the site. NFT can be operated by “eBay-compliant sellers”, and anyone can purchase tokens. All transactions will be in US dollars, with many other platforms suggesting using Ethereum. A significant part of the non-fungible tokens presented on the site is created on the basis of WAX. Because of this, sellers offer buyers to create a wallet in this network to receive NFT. "In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform," said Jordan Sweetnam, senior vice president and manager of North American Marketplace for eBay.

Crypto enthusiast announces a possible drop of BTC below $50,000

The main cryptocurrency price may fall below the $50,000 level. This is probably due to the decrease in the number of "whale" addresses to the minimum since this year. This point of view was expressed by Pankaj Balani, the head of the cryptocurrency platform Delta. According to Glassnode, the number of addresses that store at least 1000 bitcoins dropped to 1943. The negative trend has been traced since the first decade of February when a record high of 2237 addresses was recorded. “The data looks bearish, as it shows a clear trend of whales offloading their holdings,” Balani is sure.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Anthony Scaramucci advises investing in bitcoins up to 3% of the investment portfolio

SkyBridge Capital founder Anthony Scaramucci believes that the main cryptocurrency is still an asset that should be in an investment portfolio. According to him, it is still difficult to convince many investors to pay attention to BTC. The head of SkyBridge Capital advises investing relatively little money in bitcoin. According to the entrepreneur, BTC is the only crypto-coin that has reached “space speed”. “As an investment adviser and someone who’s been running money for 30-plus years, it’s responsible of me to tell my clients to own 1%, 2% or 3%. I’m not telling them you’ve got to own 100% of your net worth in it - but if we’re right, you don’t want to be missing out on this," Scaramucci said.

Losses of traders because of BTC fall reach $2.4 billion

As a result of the collapse of the first cryptocurrency coin, traders lost about $2.4 billion. In 24 hours, cryptocurrency exchanges forcibly closed the positions of 304 thousand users, analysts of the bybt service noted. The market collapse was preceded by another post by Elon Musk on Twitter. In it, he criticized the main cryptocurrency. “Bitcoin is actually highly centralized, with supermajority controlled by handful of big mining (aka hashing) companies. A single coal mine in Xinjiang flooded, almost killing miners, and Bitcoin hash rate dropped 35%. Sound “decentralized” to you?” Musk wrote on May 16. However, on May 17, in response to a barrage of criticism, the entrepreneur hastened to "refute the speculation”, saying that "Tesla has not sold a single bitcoin."

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Poll: over 50% of Australians think that Elon Musk is the creator of BTC

According to a survey of Finder website users, 56% of Australians believe Elon Musk is the creator of Bitcoin. They had never heard of Satoshi Nakamoto. The study involved over a thousand Australian residents. Many of those surveyed do not know that the Bitcoin supply is limited to 21 million cryptocoins. 44% of respondents are sure that the number of BTC is not limited. In addition, 25% of survey participants said they have already purchased cryptocurrency or intend to do so by the end of the year. However, about 20% of respondents do not know how to do this.

German politician advocates restricting bitcoin miners

Sven Giegold, a politician from Germany, considers it necessary to pass a law that limits the consumption of electricity by bitcoin miners. The deputy calls for the introduction of appropriate restrictions on the territory of the European Union. “As long as cryptocurrencies were small sandbox games, there was no need for regulation, and it was necessary to give innovative technologies room for development. But if something becomes ecologically damaging on the scale of mining cryptocurrencies like Bitcoin, then you have to intervene,'' the politician said. According to Giegold, carbon dioxide emissions from BTC miners are a threat to the German economy. The MEP stressed that the regulation of the cryptocurrency mining industry lags far behind the development of this industry.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
American GameStop Network to launch an NFT-related project

The American network for the sale of game consoles, computer games, and game accessories GameStop will launch an Ethereum platform for NFT tokens. The exact date of the platform launch has not yet been disclosed. “We are building a team. We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders,” the company's announcement, which is posted on the site's website, says. Probably, the target audience of the project will be not only players and developers, but also potential NFT collectors. There is also a slogan on the site: “Power to the players. Power to the creators. Power to the collectors."

Canadian regulator accuses Poloniex of illegal asset trading

The Ontario Securities and Exchange Commission has sued the popular crypto platform Poloniex. OSC believes that the exchange is carrying out illegal trading in stocks and derivatives. In early spring of this year, it became known that companies conducting operations with cryptoassets in Canada are required to register as investment dealers. Until April 19, such companies had to contact the regulator to warn of possible sanctions against them. 70 platforms applied to OSC, some of which were registered outside Canada, but Poloniex was not among them. Now the platform faces a large fine, as well as a ban on trading in securities.

Wharton School of Business talks about the possibilities of decentralized finance

DeFi has the potential to transform the global financial market. According to experts at the Wharton School of Business at the University of Pennsylvania, such assets can be used in insurance, lending, capital management, the development of decentralized exchanges, and the issuance of stablecoins. In addition, the use of DeFi is possible when running "ancillary services" such as wallets and oracles. Decentralized finance can help alleviate market pressures, transaction costs, and asset allocation costs. However, business school experts have also pointed out the disadvantages of DeFi. For example, these are frequent cases of fraud, an uncertain attitude of regulators towards such assets, and immaturity of the technology.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
The head of the Japanese regulator speaks out against bitcoin

The volatility of the main cryptocurrency is "excessively high". This opinion was voiced by the Governor of the Bank of Japan Haruhiko Kuroda. “Most of the trading in the cryptocurrency industry is speculation on excessive volatility. It is unlikely that Bitcoin can be used as a means of payment, ” Kuroda said. But he treats stablecoins differently. According to the Governor of the Central Bank, if stablecoins meet the standards of regulators and have "sound government practices", then in the future they will turn out to be a convenient payment instrument.

Ray Dalio considers the first cryptocurrency to be an alternative currency

Ray Dalio, founder of hedge fund Bridgewater Associates, is convinced that a clear distinction needs to be made between “digitized” money and alternative digital currencies. At the same time, he called the main crypto-coin an alternative currency. “Bitcoin is an alternative currency compared to digitalization,” the entrepreneur said. In his opinion, the digital yuan can become a competitor to BTC, but the state digital currency will not be able to conquer the crypto market. At the same time, the digital dollar will be stable and competitive, the businessman believes.

In the UK, the bank has banned customers from sending funds to crypto exchanges

In the UK, Starling Bank has imposed a temporary ban on its clients from sending funds to crypto trading platforms. The reason is the high risks associated with online financial crime. However, Starling clients still have the ability to withdraw funds from cryptocurrency exchanges to bank accounts without any restrictions. Starling plans to lift the ban after the end of special checks, which will oblige the bank's customers to transfer funds to crypto platforms. Starling's initiative is not yet widespread. For example, the world's largest bank Barclays issued a message stating that it does not plan to impose a ban on customers from making deposits on crypto exchanges.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Coinbase Pro to add DOGE to listing

Cryptocurrency platform Coinbase Pro has released a statement on plans to add dogecoin to the listing. Clients of the exchange can already transfer cryptocoins to their accounts. That being said, DOGE should start trading at 09:00 PT tomorrow, June 3. This will happen if the conditions that relate to liquidity are met. Coinbase Pro users will be offered DOGE pairs against the US Dollar, Euro, British Pound, USDT and BTC. Against the backdrop of this news, the Dogecoin rate has increased by 32% over the past 24 hours, according to Coinmarketcap data. The DOGE price is $0.42.

Goldman Sachs draws a parallel between BTC and copper

Goldman Sachs’s Global Head of Commodities Research Jeff Curry believes that bitcoin does not fit the common concept of digital gold. According to the expert, BTC is more like copper. “Digital currencies are not substitutes for gold. If anything, they would be a substitute for copper, they are pro-risk, risk-on assets. They are substitue for risk on inflation hedges not risk off inflation hedges,” Curry said. The economist believes that bitcoin correlates with the business cycle, as it is linked to its payment system. Curry believes that BTC, like copper, is an effective defense against "good inflation" arising from growing demand. But gold is hedging against the "bad inflation" caused by the increase in supply.

Guggenheim Partners creates a fund to invest in the first cryptocurrency

Guggenheim Partners, which manages more than $350 billion in assets, is launching an investment fund for Bitcoin transactions. The new structure will focus on maximizing profits "by combining current income and capital gains." The portfolio of the Guggenheim Active Allocation Fund will consist of a large list of securities, which are planned to be diversified through an “alternative investment pool”. “The Fund may seek investment exposure to cryptocurrency (notably, Bitcoin), often referred to as «virtual currency» or «digital currency,» through cash settled derivatives instruments, such as cash settled exchange traded futures, or through investment vehicles that offer exposure to Bitcoin or other cryptocurrencies through direct investments or indirect exposure such as derivatives contracts,” the company's prospectus says.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
Ruffer Investments earned $ 1.1 Billion on bitcoin

Wealth management company Ruffer Investments has announced significant profits after investing in the purchase of the first crypto coin. The firm acquired BTC for $600 million back in November 2020. It has now become known that the British company has completely sold its crypto assets. The cumulative profit after the sale exceeded $1.1 billion. “When the price doubled we took some profits for our clients in December and early January. We actively managed the position and by the time we sold the last tranche in April the total profit was slightly more than $1,1 billion,” Hamish Bailey, the investment director of Ruffer, said.

Singapore authorities record an increase in investment in fintech

Sopnendu Mohanti, the Financial Technology Director of the Singapore Monetary Authority, is confident that a significant inflow of investments in the fintech industry is expected in 2021. This should happen as part of Singapore's consolidation of its position as a regional financial center. Mohanti said investments in fintech companies have increased from about $20 million in 2014 to $1.1 billion in 2020. In his opinion, in 2021, local authorities expect even greater growth. “We don’t have Silicon Valley, but we are trying our best. The environment the country is building enables these fintech players to find opportunities to see if their early ideas translate into real value in the long run,” MAS fintech director said.

2.png
 

BestChange

Newbie
Joined
Apr 19, 2018
Messages
0
Reactions
2
MR
0.00
El Salvador approves BTC as legal means of payment

The Legislative Assembly of El Salvador approved a bill on the legalization of BTC, in which the president of the state proposed to make the crypto coin an official means of payment, on a par with the American dollar. The legislative initiative was supported by 62 out of 84 possible deputies, 17 opposed, one parliamentarian abstained. The draft law will enter into force 90 days after publication in the official government media. If the initiative of the head of the country Nayib Bukele is approved, bitcoin will be the official payment instrument in El Salvador. Information about this appeared in the politician's microblog.

Coinseed stops working

Cryptocurrency investment app Coinseed is suspended due to a lawsuit from the New York State Attorney's Office. Earlier, the department filed a lawsuit against the crypto project, accusing the platform of fraud and deceiving users for $1 million. The prosecutor's office believes that about 2 years ago, the top management of Coinseed conducted an unregistered ICO. In addition, the platform's management applied hidden fees and attracted investors with implausible promises. Coinseed CEO Delgerdalai Davaasambuu said the service had received no complaints from users. At the same time, the prosecutor's office said that since the filing of the claim, the department received more than 170 complaints about the crypto project.

CFTC Commissioner: "DeFi derivatives may be illegal in the US"

The Commissioner for the US Commodity Futures Trading Commission believes that some DeFi products may be illegal on US soil. CFTC Commissioner Dan Berkowitz said DeFi markets, such as for futures contracts, may be illegal due to US law. These are the provisions of the American Mercantile Exchange Act. “DeFi markets, platforms, or websites are not registered as DCMs or SEFs. The CEA does not contain any exception from registration for digital currencies, blockchains, or «smart contracts, ”said the CFTC Commissioner.

2.png
 

Announcements

Tutorial

Today's birthdays

Forum statistics

Threads
366,162
Messages
6,441,349
Members
139,024
Latest member
bangbui99

Most viewed of week

Most Discussed Of Week

Most viewed of week

Most Discussed Of Week