Monthly Archives: February 2021

Late on crypto? Institutions still at early stage of Bitcoin adoption

Institutional investors are rushing to acquire and add Bitcoin to their portfolio — but is it too late? Institutional investors are seen to be rushing toward Bitcoin (BTC) at high speed, with more companies emerging that look to adopt Bitcoin as a way to store their reserves. Recently, Marathon Patent Group, a Nevada-based Bitcoin mining company, has bought $150 million worth of Bitcoin as a reserve asset, a move similar to MicroStrategy purchasing $425 million worth of Bitcoin in September 2020. This purchase made Marathon Patent Group […]

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Crypto Markets Surge, ETH Price Rallies, Bitcoin’s Tight Range Indicates Big Move Ahead

Digital currency markets have been on the move northbound on Wednesday as bitcoin and numerous crypto assets have seen decent gains. The entire crypto-economy has once again crossed the $1 trillion mark as a myriad of digital currencies jumped anywhere between 5-20% in value during the last 24 hours. Crypto Assets See Some Upside Price Action Crypto supporters are pleased on Wednesday as digital currency markets are climbing again and a great number of assets have seen significant gains. The leading cryptocurrency, in terms of market valuation, […]

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Yellen convenes SEC, CFTC and Fed leaders on Robinhood question

Treasury Secretary Janet Yellen faces the first major hurdle of her tenure with the question of how to handle social media-driven security trading. The four horsemen of U.S. financial regulation will meet to discuss market manipulation concerns resulting from the headline-grabbing drama surrounding GameStop stock last week.  Per a Feb. 2 report from the Wall Street Journal, Treasury Secretary Janet Yellen is gathering the leadership of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Federal Reserve, possibly as soon as Thursday.  The SEC […]

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Small and medium hodlers control 40% of the Bitcoin supply — data

Distribution “keeps getting better,” says Willy Woo amid continued claims that Bitcoin as a network is too centralized. Bitcoin (BTC) ownership is becoming more decentralized every day, data shows, allaying fears that the supply is being controlled by an elite. Data from Glassnode reproduced by statistician Willy Woo on Feb. 3 shows that the number of smaller Bitcoin holders and those holding coins on behalf of clients keeps growing. Bitcoin in the hands of the little guy Despite BTC/USD rising to record highs in recent weeks, more, […]

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Founder of Crypto Scam Promoted by Actor Steven Seagal Charged — Key Member Arrested in US

Three people have been charged in the U.S. over two cryptocurrency scams, one of which was promoted by famous Hollywood actor Steven Seagal. The main promoter of the schemes has already been arrested and is facing criminal charges. Seagal previously settled the charges against him relating to the scheme. The U.S. Securities and Exchange Commission (SEC) charged three people on Monday with defrauding retail investors “through two fraudulent and unregistered digital asset securities offerings” that occurred between approximately December 2017 and May 2018. The three are Kristijan […]

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Bitcoin Custody Provider Casa Announces $4 Million Raised In Seed Funding

Today, Bitcoin custody solution provider Casa announced that it has raised $4 million in seed funding. “The seed round is led by Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, and includes first-time investment in Casa from Tioga Capital, Cadenza Ventures (the venture capital arm of BitMEX), Coinbase Ventures and Champion Hill Ventures,” according to a release shared with Bitcoin Magazine. “Existing investors also participated heavily, including Lerer Hippeau, Castle Island Ventures, Compound VC and Precursor Ventures.” The company […]

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KuCoin CEO says insurance covered 16% of losses from $285M hack in 2020

KuCoin users were unaffected by the $285 million hack of 2020, as insurance funds covered the remaining losses from the incident. KuCoin CEO Johnny Lyu has revealed that users did not suffer losses on account of the hack that occurred in 2020. The KuCoin chief made this known as part of a letter titled “2020, 2021, and Beyond.” Back in September 2020, the cryptocurrency exchange suffered a security breach with 230 different cryptos stolen from its hot wallet. At the time, the total theft amounted to about […]

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EU politician reveals her conversion to crypto — Eva Kaili

“Lots of my friends lost their savings because banks suddenly shut down and nobody would guarantee their life savings. So this was like quite a shock.” European Parliamentarian Eva Kaili’s conversion to cryptocurrency came as she watched her friends lose their life savings in the fallout of the Global Financial Crisis. The crunch came during the 2012 Cypriot financial crisis, when Cypriot banks collapsed and a levy was imposed on many depositors to fund the resulting bailout. Lots of my friends lost their savings because banks suddenly […]

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MicroStrategy will pitch Bitcoin to 1,400 public companies: How will BTC price react?

MicroStrategy is meeting with public companies on Thursday to talk about Bitcoin and its merit as a store of value. MicroStrategy, a $6.37-billion business intelligence conglomerate in the United States, will meet with public companies on Thursday to discuss Bitcoin (BTC). Michael Saylor, CEO of MicroStrategy, said that professionals from over 1,400 firms are joining the event. “If you are interested in the legal considerations firms face while integrating Bitcoin into their corporate strategy, you are not alone,” Saylor wrote. “We have professionals from more than 1400 […]

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China could shut down Bitcoin for $7B a year says Logica Capital chief strategist

Logica Capital’s chief strategist believes China could attack the Bitcoin network for just $7 billion per year. Michael Green, chief strategist and partner at investment advisory firm Logica Capital, has sounded the alarm about China’s Bitcoin (BTC) mining dominance during a debate with crypto proponent Anthony Pompliano. The discussion between the Bitcoin skeptic and the Bitcoin bull has just been published by digital asset media outlet Real Vision. Green emphasized the dominant share of hash rate located within China’s borders, describing the network as “incredibly vulnerable” from […]

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