Monthly Archives: February 2021

Powers On… The battle for digital asset supremacy and the consequences of U.S. capitulation

Why is the U.S. dragging its heels on crypto and blockchain regulation, as the rest of the world forges ahead with financial innovation? Powers On… is a new monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an Adjunct Professor at Florida International University School of Law, where he teaches a course on ‘Blockchain, Crypto and Regulatory Considerations.’ Dear Readers: Here is my first […]

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Apple Well Positioned to Offer Crypto Trading — Analyst Says Company Should Hold Bitcoin in Treasury

Apple Inc. is well position to offer cryptocurrency trading, according to an analyst with global investment bank RBC Capital Markets. Not only will Apple gain instant market share in the crypto space, but the move could also generate the Iphone maker well over $40 billion in annual revenue. In addition, the analyst says that Apple should follow Tesla’s example and add bitcoin to its balance sheet. Analyst Says Apple to Benefit From Offering Crypto Trading, Should Add Bitcoin to Treasury RBC Capital Markets analyst Mitch Steves believes […]

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Robinhood, Melvin, and Citadel execs expected to testify on GameStop before Congress

The price of GME has fallen almost 90% since lawmakers first called for a hearing. Executives from companies involved in the recent controversy between hedge funds and retail investors from Reddit may be testifying at a House Financial Services Committee hearing next week. According to a Reuters report, two people familiar with the matter said executives from trading app Robinhood, investment manager Melvin Capital, and hedge fund Citadel are expected to testify in a congressional hearing scheduled for Feb. 18. Bloomberg reported that Citadel founder Ken Griffin […]

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Ethereum is struggling again vs. Bitcoin: Why is ETH/BTC showing weakness?

Ether is stagnating against Bitcoin despite BTC’s strong rally after BNY Mellon embraces digital assets. The price of Ether (ETH), the native cryptocurrency of Ethereum, has been stagnating against Bitcoin in recent days after a strong few weeks against BTC. In the past few weeks, ETH and BTC have shown some inverse correlation as ETH rallied strongly when BTC consolidated, and vice versa. ETH/BTC 15-minute price chart (Binance). Source: TradingView.com So why is ETH struggling at the moment? In the last several hours, Bitcoin has seen a […]

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$41 Trillion Global Custodian BNY Mellon Announces Bitcoin Strategy

Today, global banking and custodian heavyweight BNY Mellon announced that it is entering the Bitcoin arena with the creation of a “Digital Assets Unit.” The New York-based bank is a custodian of more than $41 trillion in assets and has $2 trillion in assets under management and The Wall Street Journal has reported that this means it will issue, hold and transfer bitcoin on behalf of its asset-management clients. According to the announcement, the Digital Assets Unit is being led by Mike Demissie, who said that it […]

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NFTs take center stage at ETH Denver 2021

NFTs are a hot topic at this year’s virtual ETH Denver, with adoption and DeFi use cases dominating the talks At ETH Denver’s virtual conference, non-fungible tokens have been in the limelight with seven mainstage presentations devoted to utility, adoption, and novel use cases — a sign of growing acceptance for what was once considered a niche or lesser application of blockchain tech. While the seven presentations have been dwarfed by decentralized finance’s 14 (not to mention a dedicated four-hour summit), the stage time comes on the […]

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Uber and Adyen CEOs both say no to Bitcoin for now

The Adyen CEO expressed concern about Bitcoin’s volatility in regards to a payment method, while Uber “quickly dismissed” discussions about purchasing the crypto asset. Chief executive officers at e-commerce firm Adyen and ridesharing and delivery app Uber are not following in Tesla’s Bitcoin footsteps just yet, but for different reasons. In an interview with CNBC’s Squawk Box today, Uber CEO Dara Khosrowshahi said conversations about Bitcoin (BTC) as an investment for the tech firm have been “quickly dismissed.” Khosrowshahi was responding to a question as to whether […]

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Mastercard Will Start Supporting Cryptocurrencies Directly on its Network

Payments giant Mastercard has announced that it is preparing to allow a number of cryptocurrencies to move through its network directly. Customers, merchants, and businesses will no longer need to convert cryptocurrencies into fiat currencies to transfer through the Mastercard network. Mastercard Prepares to Let Cryptocurrencies Move Through its Network Mastercard announced Wednesday that it will start “bringing crypto onto its network.” In a blog post on the company’s official website, Raj Dhamodharan, Executive Vice President of Digital Asset and Blockchain, explained that “digital assets are becoming […]

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Privacy in blockchain and crypto is a major concern for users, study reveals

Privacy is still one of the most important features of cryptocurrencies for traders according to data. To better understand user behavior and sentiment regarding transactions and privacy on the blockchain, Manta Network ran a survey in December 2020 studying user trust regarding privacy on the blockchain, as well as centralized and decentralized exchanges.  The 2021 Privacy & Trust on Cryptocurrency Exchanges report examines the drivers behind user trust and activity surrounding blockchain transactions and exchanges. Download the full report here. The 404 participants in the survey all […]

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Compute North Raises $25 Million To Expand Bitcoin Mining Operations

Compute North, one of the fastest-growing bitcoin mining companies in North America, has announced the close of a growth capital round that netted $25 million in debt financing and equity, which it will use to expand its operations in light of ongoing demand for its data and colocation services. The debt capital was raised as a senior secured loan via investment firm Post Road Group, according to a press release shared with Bitcoin Magazine. With this new capital funding, the company hopes to double its current 920 […]

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