Tag Archives: Bitcoin

After China announced that it would begin ramping up its efforts to restrict the mining of cryptocurrency, the price of bitcoin (BTC-USD) fell to below $30,000 earlier this week, trading at a value not seen since the turn of the new year. The cryptocurrency has since rebounded slightly, now holding at a level just above $32,000. Though the news and subsequent crash may have caused short term headaches in the crypto market, China’s crackdown on mining may actually benefit crypto in the long… Source link

Some sensible advice from Tim Draper, Brock Pierce, and other crypto leaders. It’s a great week for Bitcoin enthusiasts living in El Salvador. For the rest of us, the week has been “meh” at best. According to a tweet by Documenting Bitcoin, El Salvador’s President Nayib Bukele has promised to deliver $30 in Bitcoin to each registered El Salvador citizen, adding “The wallet app will work anywhere with a cell connection, and you won’t have to have a cell plan to use the app.”

If anyone can say they know the ins and outs of crypto, it’s the 29-year-old billionaire founder of crypto exchange FTX, Sam Bankman-Fried. Not only has he built up an impressive personal net worth by being ahead of the curve in crypto trends, he’s also built FTX into one of the fastest growing crypto platforms through first-of-their-kind partnerships.  First, there was the first-ever crypto deal with a major U.S. sports team by locking up the naming rights to the Miami Heat’s arena. Then,… Source link

The Central American country plans to use bitcoin as a parallel legal tender alongside the US dollar, which has also been touted as a remittance currency for Salvadorans overseas. Photo: Jose Cabezas/Reuters The price of Bitcoin (BTC-USD) rose for a third consecutive day on Friday after El Salvador revealed that it would officiate the cryptocurrency as legal tender on 7 September. The Central American country plans to use bitcoin as a parallel legal tender alongside the US dollar, which has… Source link

Bitcoin traded higher after holding support around $32,000 on Thursday. Bearish sentiment is starting to wane as buyers fuel a relief rally from Tuesday’s shakeout low of around $29,000. The cryptocurrency is up about 4% over the past 24 hours, but is still down about 8% over the past seven days. Latest prices Cryptocurrencies: Traditional markets: Bitcoin options expiry Related: DOJ Charges Crypto Seller for Operating Unlicensed Money Transmitting Business As June comes to a close, roughly… Source link

The founders of South Africa-based crypto investment firm AfriCrypt have disappeared along with 69,000 bitcoins — worth an estimated $3.6 billion — according to a report from Bloomberg on Wednesday. In mid-April, AfriCrypt’s investors were sent an email claiming that the platform was shutting down and freezing all accounts following a hack that compromised client accounts, wallets, and nodes. Investors were reportedly asked not to report the hack to law enforcement, which the founders… Source link

Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to Bloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the… Source link

(Bloomberg) — The Bitcoin Fund listed on the Nasdaq Dubai exchange Wednesday, the first of its kind to trade in the Middle East as cryptocurrencies grab attention globally. The stock closed at $38.30, up 10% for the day, according to prices on Nasdaq Dubai’s website. The Canadian fund was the first of its type to be listed on a major exchange, in Toronto last year. The intent of the Dubai listing is to get trading at all hours around the globe. Dubai-based Dalma Capital Management Ltd. is… Source link

Regulators in China taking a tougher stance on cryptocurrencies could partially explain the most recent rout in bitcoin prices. But some Wall Street watchers think the U.S. Federal Reserve’s new hawkish stance on interest rate policy and bond buying is also playing a key role.  “It is our belief that part of the momentous rally (an important part) has been helped by the Fed’s largess. Bitcoin and other cryptos should rally further on their own over the years, but we believe that they have… Source link

Stocks extended gains on Tuesday, with equities steadying following concerns over the path forward for monetary policy.  The S&P 500 advanced to end within striking distance of a record high. The Dow also added to gains, a day after the 30-stock index jumped by the most since March. The Nasdaq reached a record intraday and closing high. Cryptocurrency prices were broadly lower as concerns over tighter regulatory actions from China continued to weigh, and tokens from Bitcoin (BTC-USD) to the… Source link