Category Archives: Crypto News

Three Arrows Capital CEO: ‘Bart Simpson’ Patterns are Here to Stay

Speaking to the Coinist Podcast on June 4, CEO Su Zhu said he believes the Bitcoin price pattern that we saw on June 1 is likely to repeat. Su Zhu, the CEO of Three Arrows Capital, thinks that as long as crypto traders continue to do business with derivatives exchanges, you can expect to see more “Bart Simpson” patterns in the Bitcoin price chart. In a video from Luke Martin’s Coinist Podcast posted to Twitter on June 4, Zhu said the Bart ⁠patterns ⁠— named after their […]

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Kyrgyzstan Poised to Legitimize Crypto Mining

Kyrgyzstan’s parliament is deliberating on a tax regime for miners that would be the country’s first regulated framework for crypto activities. Lawmakers in the Kyrgyz Republic are considering a bill to tax and regulate cryptocurrency mining activities.  The bill, On Amending the Tax Code of the Kyrgyz Republic, seeks to increase government revenue by establishing taxation obligations for miners, in addition to establishing clear definitions for the terms ‘virtual assets’ and ‘mining’ within the context of cryptocurrencies. If passed, the new taxation regime would comprise the first […]

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Could Bitcoin Trading Volume Really 100X in Four Years?

How likely is it that Bitcoin trading volumes will top $1 trillion a day by 2025? In its latest report cryptocurrency data provider Coin Metrics predicted that Bitcoin’s daily volume could eclipse that of the U.S equity market, if growth rates are maintained. But how likely is it really? The report cites Bitcoin as an asset class with incredible growth potential due its low trading volume compared with more traditional markets:  “The interpretation is that Bitcoin, in its current state, is most comparable in size to a […]

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‘Bitcoin and Black America’ Author: Protest by Buying BTC

Author Isaiah Jackson says Bitcoin can be an effective protest against financial institutions for those who can’t take to the streets. Bitcoin & Black America author Isaiah Jackson says that people invoking Bitcoin during the protests over the police killing of George Floyd have identified the “real enemy” — a legacy financial system that shuts out African Americans.  Jackson spoke to Cointelegraph on June 4, saying he welcomed pictures on social media of protesters holding up signs promoting the cryptocurrency. He said the result of black people […]

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New Head of US Regulator and Former Coinbase Lawyer Invites Banks and Crypto to Collaborate

Following a request for input on how crypto and banking can work together, new acting Comptroller of the Currency Brian Brooks talks first priorities in work with the industry. In a June 4 announcement, the Office of the Comptroller of the Currency (OCC) is looking for banks and crypto firms to weigh in on how the two can interact.  Crypto meets banks The Advanced Notice of Proposed Rulemaking asks banks and industry leaders to respond to a number of questions — notably: “What activities related to cryptocurrencies […]

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Patoshi Researcher: ‘Satoshi won’t use his coins ever’

Renowned researcher believes that Satoshi was altruistic and thus will never spend his 1.1 Bitcoins, making it the fairest asset. The researcher who identified 1.1 million Bitcoins (BTC) that Satoshi Nakamoto mined, said that his research makes him believe that Satoshi was altruistic and will never spend his coins. Sergio Demian Lerner, the designer of the second layer Bitcoin protocol RSK and renowned crypto researchers in the Reddit AMA said that it took him three years to discover privacy flaws in the Bitcoin code that led to […]

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Revolut Reportedly Fires Dozens of Employees for Coronavirus Cost-Saving Reasons

European startup Revolut reportedly asked employees to leave as part of a cost-cutting effort amid difficult times. In an effort to trim expenses, European fintech outfit Revolut has allegedly urged employees to leave, according to staff interviewed by Wired. “Some of the employees allegedly pressured to leave have been left stranded in a foreign country without a job or health insurance in the middle of a pandemic,” describes author Emiliano Mellino, collecting stories from multiple Revolut employees. The company reportedly staffed a great number of employees at […]

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Both NXT and Algorand Claim to Have Developed First Proof-of-Stake Chain

Algorand claims in its promotional materials to be the first PoS blockchain, but NXT lead developer says his project was first. Cryptocurrency Algorand (ALGO) claims in its promotional materials to be the first proof-of-stake, or PoS, blockchain, but NXT lead developer Lior Yaffe claimed that his project was first. In a June 3 tweet, Yaffe accused Algorand’s of misleading the cryptocurrency community for marketing purposes, by falsely claiming to be the first PoS blockchain. He wrote: “The algorand marketing machine has misleadingly crowned themselves as the “First […]

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Coronavirus Lockdown Boosts Bitcoin Trading in Russia

COVID-19 pandemic seems to be one of the drivers behind the recent sharp increase in Bitcoin trading volume across Russia. On June 4, a new study performed by a number of Russia-based crypto exchanges revealed a significant rise in Bitcoin (BTC) trading across Russia since March amid the COVID-19 lockdown. As RBC reports, representatives from the Russian offices of exchanges like Binance, Garantex, and EXMO, highlighted the growth in the number of users in Russia. This number is relative to the increase in trading volumes from March […]

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Ethereum Community Debates Raising the Block Size Limit, Once Again

The Ethereum network has become highly congested since the end of April, leading some to entertain a gas limit or block size increase. Continuing congestion on the Ethereum (ETH) network has led some developers and community members to call for increasing the gas limit, which defines its transaction throughput. Data from Etherscan shows that the average gas price rose more than three-fold since early May, with an average of about 30 Gwei in the last few days.   Source: Etherscan.io According to EthGasStation, this results in an […]

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