Monthly Archives: February 2021

Robinhood reportedly allowing instant deposits for crypto purchases again as DOGE surges

The feature was originally suspended on Jan. 29. Stock and crypto trading app Robinhood has reportedly re-enabled instant deposits for cryptocurrency purchases after almost a week. Robinhood has removed the original update on its support page suspending instant deposits, and its website currently shows certain users once again have “instant access” to up to $1,000 to buy crypto. Many of the app’s users also reported on social media they were able to access the trading feature last night. The “instant buying” function is a paid feature that […]

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Here’s why Bitcoin price is struggling to reclaim $38,000

Bitcoin price may have flipped $35,000 back to support but data shows this week’s 15% move may have prompted top traders to open short positions. After bouncing from the recent short-term low, Bitcoin (BTC) price posted a 15% gain over three days as it climbed from $32,400 to $37,200.  This was an impressive move given that BTC price had been trading in a sideways range for weeks and regardless of the reasons behind the surge, one would expect large traders and arbitrage desks to follow the trend. […]

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Parents, it’s time for ‘the talk’: Did your kid trade crypto in 2020?

Now is the time to look beyond your own income-producing activities and look to your children’s crypto as well. The taxation of cryptocurrency is no longer just a young person’s problem. That changed the day the United States Internal Revenue Service made cryptocurrency a focal point of enforcement and added a crypto disclosure question on its Form 1040. Unsuspecting parents with dependent children should be on guard. The IRS is looking for noncompliance, and crypto questions create a possibly perjurious trap. Noncompliance may be sleeping in the […]

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Hedge or cyclical? Eternal debate on Bitcoin’s status sees a new twist

Crypto might not be a great hedge in the strict traditional sense, but it can guard investors against policy and currency risks. One of the most enduring cryptocurrency-related narratives revolves around the search of crypto’s definition as an asset class. Is Bitcoin (BTC) more of a digital currency or digital gold? Do its unique properties warrant viewing it as something completely distinct from the established categories of financial instruments? A recently published report by JPMorgan Chase’s strategists has sparked yet another round of such debates. The conclusions […]

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Analysis Shows Bitcoin Whales Are Stockpiling, but ‘BTC Ownership Is Not Highly Concentrated’

During the last few months, a few reports from mainstream media (MSM) outlets tried to prove that a large sum of bitcoin is controlled by a small group of people. Recently, Bloomberg claimed that “2% of accounts control 95% of all bitcoin,” a claim that doesn’t hold weight to onchain analysts. On Tuesday, Glassnode researcher Rafael Schultze-Kraft’s latest report refutes this claim by MSM, stressing that bitcoin ownership is not highly concentrated. Shrimps to Humpbacks: The Ocean of Bitcoin Entities Oftentimes MSM outlets and reporters publish a […]

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Merging traditional finance and DeFi is critical for mass adoption

If we want to achieve mainstream adoption, we must move toward an industry where DeFi can also serve legacy financial institutions. When capital markets opened for the first time this year on Jan. 4, 2021, the focus of the front page of the Financial Times was squarely aimed at Bitcoin (BTC) with the headline: “Bitcoin tops $34,000 as record-breaking rally resumes.”  That Bitcoin is seeing institutional buy-in on a level unsurpassed in its history is certain, but what does this mean for the wider crypto space? How […]

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New antitrust legislation aims to put an end to tech monopolies in the US

The era of tech giants buying up their up-and-coming competitors will be over if these senators get their way. The Senate sees new legislation aiming to update antitrust laws for new technologies. Senator and former candidate for the Democratic presidential nomination Amy Klobuchar is introducing the Competition and Antitrust Law Enforcement Reform Act today, Cointelegraph has learned. Sen. Klobuchar, who heads the Senate Antitrust Subcommittee, is looking to put new burdens on companies seeking to acquire competitors. An announcement of the bill noted that it aims to […]

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Robinhood saga reveals deeper flaw in Web 2.0: Oasis Labs executive

Robinhood’s ability to limit tradable assets on a whim reflects the limitations of Web 2.0 interfaces, according to the COO of a privacy-focused blockchain network. Robinhood’s decision to halt the trading of several stocks, including GameStop and AMC, underscores a “huge flaw” in the way the internet exists today, according to Anne Fauvre-Willis, COO of the privacy-focused Oasis Labs.  Control is at the crux of the issue, Fauvre-Willis tells Cointelegraph, referring to the way Web 2.0 interfaces require that users relinquish command of their assets. She explains: […]

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A World To Come

“Cryptoanarchy.” It’s not a new term, but it has sincerely evolved throughout the years as the advancement of the sovereign, personal reserve currency started taking over the financial system and began attracting more and more investment capital from large institutions. However, the term will eventually be hijacked as the sovereign individuals arise due to the powers granted them by their monetary reserve. Eventually, this will lead to problems that many right now are attempting to counteract by putting thought into the establishment of modern citadels and protective […]

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Circle Launches USD Coin on the Stellar Network

Circle and the Stellar Development Foundation (SDF) announced that the second-biggest stablecoin is now available within their network. USD Coin (USDC) is accessible through five integrated wallets, and it can be tradeable on their ecosystem, said the USDC issuer. Stellar Has Been the Official Chain of USDC Since October 2020 Per the announcement, the stablecoin is available in any Stellar (XLM) account through Lobstr, Solar, Stellarport, Stellarx, and Stellarterm wallets. Moreover, people could trade USDC across an ecosystem that has over 9,000 assets. In October 2020, the […]

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