Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
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Man Arrested After Kidnapping Boy Who Held Bitcoin
Bitcoin's fast price appreciation has made it an attractive asset to investors but also criminals. Recently, the police arrested a man after the kidnapping of a schoolboy he knew had made significant money trading cryptocurrency. The case highlights the importance of keeping one's earnings to himself, especially one's digital assets. What Happened? As The Guardian reports, a gang of criminals in Bradford, UK, kidnapped the boy. Next, they demanded a $10,000 ransom payment from the boy's parents for his safe…
4 years ago
New York AG Orders Unregistered Crypto Platforms To Cease Operations
New York State has ramped up its crackdown against the cryptocurrency space. Attorney General Letitia James recently ordered two crypto lending platforms to close their operations within the state. New York Combats Unregistered Securities It confirmed Attorney General James’s motion in a press release from her government website earlier today. Her actions are part of an effort to protect New Yorkers from so-called “virtual currency schemes.” The AG sent a letter to two unnamed cryptocurrency lending platforms, demanding they cease…
4 years ago
A Bitcoin ETF Has Arrived In The United States
Following years of delay and debate, the SEC has finally greenlit a Bitcoin Exchange Traded Fund for the United States. On Tuesday morning, the ProShares Bitcoin Futures ETF should begin trading on the New York Stock Exchange (NYSE). Also, many expect the fund to give typical consumers and major institutions both compliant and convenient exposure to Bitcoin. The ProShares Bitcoin Strategy ETF ProShares announced its upcoming launch this morning in a press release, confirming rumors circulating since Friday. On October…
4 years ago
WMA: Bitcoin Spikes to $62K while Awaiting Approval for a Futures-Backed BTC ETF
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,470 trillion. Bitcoin is up by nearly 7% after a spectacular weekly surge. Ethereum gained more than 5% in value over the week. XRP has lost roughly 10% of its value over the past seven days. Almost all altcoins have registered significant gains this week. The DeFi sector gained almost $8 billion in total…
4 years ago
Bitcoin has No Intrinsic Value But Seems Its Scarcity is the True Backing of its Price
Bitcoin's excessive price volatility has elicited numerous discussions about whether the digital asset has intrinsic value. Since its launch in early 2010, Bitcoin has displayed a wild price ride. In April 2021, it hit an all-time high price of around $64 000. Furthermore, 2017 was a historic year in Bitcoin's price charts. Then, the coin started trading at $1,000 and ended at $19,783.06, representing a 1,824% increase in value. Bitcoin has historically risen in value, with experts predicting that the…
4 years ago
The Ultimate Guide to WAVES – Features, Performance, and Tokenomics
As of October 15th, 2021, we have 7.800 existing cryptocurrencies. And, while you're reading this, more of the surface on the blockchain. In addition, you can discover at least one new, promising project every 24 hours. And, today we look closer at one of these up-and-coming crypto initiatives, Waves. Read on to discover how this new crypto jumped straight to the 49th position in the market cap hierarchy. Then, find out how it works, if it’s worth the investment, and…
4 years ago
Jack Dorsey’s Square Considers Building A Global Bitcoin Mining System
Bitcoin-loving-billionaire Jack Dorsey is working on more projects to help protect and scale Bitcoin. His financial services company “Square” might start building consumer-friendly mining machines for use by the general population. Making Bitcoin Mining Accessible Dorsey announced his company’s plans over Twitter earlier today. He followed with a long thread explaining the current problems in the mining industry and why it needs reconstruction. [caption id="" align="aligncenter" width="911"] Jack Dorsey, CEO of Twitter and Square. Source: New York Times[/caption] Twitter's CEO…
4 years ago
Tether Fined By Regulators For Lying About Fiat Reserves
Tether was hit with more legal repercussions amid rising concerns about its fiat currency backing. The stablecoin issuer is set to pay $41 million as settlement for allegations that it lied about its reserves. In the same case, Bitfinex received an accompanying charge. The CFTC Strikes against Tether and Bitfinex The news dropped this Friday when the Commodity and Futures Trading Commission (CFTC) issued a press release on the matter. Earlier in the day, the agency settled charges against Tether,…
4 years ago
Miami Mayor Wants to Pay Employees in Bitcoin
In a recent interview with Bloomberg, Miami mayor, Francis Suarez, admitted that he wants to pay government employees in Bitcoin. However, regarding the use of cryptocurrencies, he said: “We have to differentiate ourselves as a crypto capital of the United States or of the world.” Earlier this year, Miami introduced a proposal to allow the city’s authorities to invest in Bitcoin. However, the proposal has been stalling since February because Florida doesn't allow investments in volatile assets. Next, Suarez added:…
4 years ago