Tag Archives: crypto

(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

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 San Jose Sharks will become the first National Hockey League team to accept cryptocurrency next season — but it’s not an elaborate play to gain value from the assets. Instead, Sharks President Jonathan Becher told Yahoo Finance this week that he believes blockchain technology will make ticket exchanges more secure. “It’s good for consumers because it reduces fraud,” Becher told Yahoo Finance Live. “Crypto is nearly impossible to counterfeit … and fraudulent tickets and… 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

(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

(Bloomberg) — U.S. regulators have once again punted their decision on whether to approve a Bitcoin ETF. The Securities and Exchange Commission said in a Wednesday regulatory filing that it will seek more public comment on a proposal to list a product on Cboe Global Markets Inc. It’s not the first time this year that the SEC has delayed giving an answer to the legions of crypto advocates pushing for a way to trade the largest cryptocurrency in an exchange-traded fund format. Crypto… Source link

Cryptocurrency continues to be a popular point of discussion in the ETF world. Joining the “ETF Report” with hosts Alexis Christoforous and Kristin Myerson Yahoo Finance, ETF Trends’ CIO and Director of Research, Dave Nadig, discusses what investors are doing as they wait to be more involved in such a popular space that still has no official ETFs. For Nadig, it’s all about waiting for the SEC to approve one of the nine filings currently out there for cryptocurrency, primarily Bitcoin…. Source link

Unlike other cryptocurrencies like bitcoin (BTC-USD) and Litecoin (LTC-USD), Dogecoin (DOGE-USD) has no legitimate use and was created as a joke, Ric Edelman, founder of Edelman Financial Engines, told Yahoo Finance Live. “I am strongly opposed to Dogecoin, Doggy-coin, because it was invented as a joke,” Edelman said. “It was not serious. It has no legitimate use-case. It is not something that I think is doing the crypto community any good in its efforts to generate credibility and… Source link

©Shutterstock.com / Shutterstock.com Ever heard of the “Sunday effect”? Lately, it seems every weekend, crypto values plummet – and it’s a trend with major ramifications for the future of crypto as a serious investing contender. See: 4 Best Places To Buy and Sell CryptocurrencyFind: How Does Cryptocurrency Work – and Is It Safe? Investors and investment managers have anxiously been awaiting a decision from the Securities and Exchange Commission on the approval of Bitcoin exchange… Source link