Tag Archives: crypto

(Bloomberg) — Bitcoin’s selloff accelerated Monday, pushing it closer to $30,000 once again. The world’s largest digital coin, down as much as 3.3% at one point during the session, continues to ebb closer to the pivotal round-number level, trading around $30,628 as of 9:41 a.m. in New York. Chartists are watching to see if it breaks below that support, which could exacerbate its decline and set it up for its lowest close since the start of the year. The retreat comes amid a broader… Source link

How do authorities dispose of confiscated cryptocurrency mining rigs? In a city in Sarawak, Malaysia, authorities got rid of 1,069 rigs at once by crushing them with a steamroller, Vice reports. According to Malaysian publication Dayak Daily, the PCs were confiscated over six raids conducted between February and April this year. Sarawak Energy Berhad, the electric utility company of the Malaysian province, is accusing the mining operators of stealing electricity for their activities. The… Source link

Associated Press Iraqi militia commander vows to avenge deaths in US strike The leader of an Iran-backed Iraqi militia has vowed to retaliate against America for the deaths of four of his men in a U.S. airstrike along the Iraq-Syria border last month, saying it will be a military operation everyone will talk about. Abu Alaa al-Walae, commander of Kataib Sayyid al-Shuhada, said in an exclusive interview with The Associated Press in Baghdad that the electoral victory of Iran’s hard-line… Source link

The New York Times A Fourth of July Symbol of Unity That May No Longer Unite SOUTHOLD, N.Y. — The American flag flies in paint on the side of Peter Treiber Jr.’s potato truck, a local landmark parked permanently on County Route 48, doing little more, he thought, than drawing attention to his family’s farm. Until he tried to sell his produce. At a local greenmarket where he sells things such as wild bergamot, honey and sunflowers, he had trouble striking a deal until, he said, he let his… Source link

Unlike crypto critics who attack bitcoin and other cryptocurrencies for being too volatile, the Federal Reserve is increasingly sounding the alarm over investigating the coins that set out to be far more boring: stablecoins. As their name suggests, stablecoins are cryptocurrencies that set out to remain stable over their lifetimes and try to maintain a value as close to $1 (or other base currencies) as possible. Tether, the largest stablecoin in the world with a market cap of more than $60… Source link

As Bitcoin and other digital coins rise in popularity, so have the number of gripes with the largest cryptocurrency exchange in the U.S., according to a new study. Coinbase was the most complained-about crypto digital wallet in the Consumer Finance Protection Bureau’s complaint database, according to a study done by the U.S. Public Interest Research Group, with the volume of filings — albeit starting at a low level — accelerating this year.  “Coinbase should be investigating consumer… Source link

Crypto currencies have been around long enough that we can’t really describe them as ‘the next big thing’ anymore – they’re here and they’re part of the financial landscape. For stock traders, the rise of crypto brings a unique opportunity – not only in crypto currencies themselves, but in the technology that supports them. The blockchain technology that makes crypto secure, and the digital mining operations that generate new units of crypto currency, require a strong foundation… Source link

SASCHA STEINBACH/EPA-EFE/Shutterstock / SASCHA STEINBACH/EPA-EFE/Shutterstock The latest behemoth to enter the crypto space amid steady institutional interest is Citigroup, which officially launched a new business unit dedicated to the cryptocurrency and blockchain space, according to a memo obtained by The Block. See: As Cryptos Crash, Twitter is Drowning in MemesFind: If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now The new unit, the Digital… Source link

(Bloomberg) — The cryptocurrency aficionados’ mantra that Bitcoin is equivalent to digital gold is winning converts among the world’s biggest holders of the precious metal. In India, where households own more than 25,000 tonnes of gold, investments in crypto grew from about $200 million to nearly $40 billion in the past year, according to Chainalysis. That’s despite outright hostility toward the asset class from the central bank and a proposed trading ban. Richi Sood, a 32-year-old… Source link

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