Monthly Archives: March 2021

FATF Recommends Heightened Restrictions On Virtual Assets And Service Providers

In its updated guidance on virtual assets and virtual asset service providers, the FATF recommends requiring more strict KYC/AML measures. The Financial Action Task Force (FATF) has updated its “Guidance for a risk-based approach to virtual assets and VASPs.” Previous FATF guidance, released in 2015 and updated in 2019, has recommended regulating virtual assets in a similar way to traditional finance, mandating customary KYC/AML laws that affect most financial entities. The new updates would alter this dramatically, encouraging heightened restrictions and surveillance on virtual asset service providers, […]

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Streaming tokens surge as Bitcoin price drops to the $54,000 support

Tokens related to gaming, video and music streaming rallied to new highs even as Bitcoin price pulled back to the $54,000 support. Bitcoin (BTC) bulls faced strong headwinds on March 22 that quickly dampened any attempt at a breakout above the $58,000 level despite comments from United States Federal Reserve Chair Jerome Powell which called the top cryptocurrency a “substitute for gold.” Data from Cointelegraph Markets and TradingView show that traders made several attempts to push BTC above $58,000 over the past two days only to be rejected, […]

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500 MW by 2025: Bitcoin Miner Greenidge and It’s Wholly-Owned Power Plant to Be Listed on Nasdaq

On Monday, the New York-based company Greenidge Generation Holdings revealed the business aims to be the first publicly-listed mining operation with a wholly-owned power plant. Greenidge expects to be publicly listed on Nasdaq via a merger with the firm Support.com. Greenidge Bitcoin Mining Operation and Gas Power Plant Plans to be Listed on Nasdaq Last year in March, Bitcoin.com reported on the company Greenidge Generation Holdings joining the bitcoin mining ecosystem, as it launched a fleet of mining rigs at the 65,000 square-foot natural gas utility plant […]

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SkyBridge Capital Files For Bitcoin ETF

SkyBridge Capital, founded by Anthony Scaramucci, is the latest to file for regulatory approval to offer a bitcoin exchange-traded fund. In the latest within a growing trend, SkyBridge Capital has filed for regulatory approval with the U.S. Securities and Exchange Commission (SEC) to offer a bitcoin exchange-traded fund (ETF). In an S-1 filing dated on March 19, the firm. run by former White House communications director and recent bitcoin convert Anthony Scaramucci, applied to be to offer the product to be called The First Trust SkyBridge Bitcoin […]

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3 reasons why Bitcoin traders keep a close eye on the futures funding rate

Analysts frequently correlate a high perpetual futures funding rate with market crashes, but is this the best way to analyze the metric? Futures contracts trading has grown immensely over the past year, and proof of this comes from the total rise in open interest. Open interest is the total number of outstanding contracts, and the figure has risen from $3.9 billion to the current $21.5 billion in six months, a 450% increase. Sometimes traders assume that a high or low funding rate and soaring open interest indicate […]

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Bitcoin Miner Greenidge Generation To Go Public Through Merger With Support.com

Greenridge expects the merger to make it the first self-sufficient power generating bitcoin mining operation to the stock market. Greenidge Generation Holdings Inc, parent company of Greenidge Generation LLC, a vertically-integrated bitcoin mining operation, announced today that it plans to go public via a merger with Support.com (Nasdaq: SPRT). The agreement would be the first to bring a self-sufficient power generating bitcoin mining operation to the stock market, according to the release. “This merger is an important next step for Greenidge as we build upon our existing, […]

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Tropic Square Receives $4.7 Million To Develop Open-Source Security Chip

Tropic Square, a subsidiary of SatoshiLabs, announced $4.7 million in funding for its work on the first-ever open-source security chip. Earlier today, Prague-based crypto security startup Tropic square, a subsidiary of SatoshiLabs, announced that it received a 4 million euro (about $4.776 million) investment to propel its work on the first-ever open-source security chip. The funding came from Swiss investment company Auzera. “The chip, code named TASSIC (Transparent Authenticated Secure Storage Integrated Circuit), is expected to be introduced by the end of 2022, and it is already […]

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Price analysis 3/22: BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, THETA

Bitcoin is stuck in a tight range but that has not stopped select altcoins from continuing their journey to new highs. The Turkish lira lost 15% of its value and dipped close to its all-time low after Turkey’s President Erdogan fired central bank governor Naci Agbal. This resulted in a massive spike in Bitcoin (BTC) searches in Turkey as investors sought to protect their wealth from devaluation. This is just another example that shows how investors may be treating Bitcoin as a possible substitute for fiat currencies. […]

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Time magazine seeks CFO comfortable with Bitcoin and crypto

“The media industry is undergoing a rapid evolution,” says the job listing. A new job posting from Time magazine shows the 98-year-old publication is looking for a chief financial officer familiar with blockchain and cryptocurrencies. According to the job details listed on LinkedIn, Time is seeking a chief financial officer with more than seven years of experience in executive leadership positions and who has “comfort with Bitcoin and cryptocurrencies.” The position will be based in the magazine’s corporate offices in New York City. “The media industry is […]

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Fed Chairman Jerome Powell Says Bitcoin Is a Substitute for Gold

Federal Reserve Chairman Jerome Powell sees cryptocurrency as a substitute for gold, rather than the dollar. However, he cautioned that crypto assets, including bitcoin, are highly volatile and not useful as a store of value. Fed Chair Sees Bitcoin as a Gold Substitute During a webinar sponsored by the Bank of International Settlements (BIS) on Monday, Federal Reserve Chairman Jerome Powell talked about cryptocurrency, mentioning bitcoin in particular. The Fed chair detailed: “Crypto assets are highly volatile, see bitcoin, and therefore are not really useful as a […]

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