Monthly Archives: April 2021

Crypto users demand reinstatement of Pakistani government adviser following sudden resignation

Zia Ullah Bangash’s potential departure from an important role in facilitating Pakistan’s regulatory environment for crypto had many threatening to withhold votes and demanding answers. Many users on social media have started an online campaign for Pakistan Prime Minister Imran Khan to bring back pro-crypto adviser Zia Ullah Bangash. On Saturday, Bangash, the science, technology, and information technology adviser to Mahmood Khan, the chief minister of the Khyber Pakhtunkhwa province, announced he would resign his position. Bangash cited “unavoidable circumstances” in his decision to leave his advisory role in […]

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US Lawmaker Warns Treasury Secretary and Fed Chair Not to Ignore Bitcoin or America Will Fall Behind

Congressman Kevin McCarthy has urged Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell not to ignore bitcoin like they have been trying to do. He believes it is the future, emphasizing, “I do not want America to fall behind” other countries. Government and the Fed Should Not Ignore Bitcoin GOP leader Kevin McCarthy talked about bitcoin in an interview with CNBC last week. Congressman McCarthy serves California’s 23rd district and is currently the Republican leader in the U.S. House of Representatives. He was asked specifically […]

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Dogecoin, CryptoCurrency Reddit communities surge as crypto euphoria heats up

The subreddits for Dogecoin and CryptoCurrency added a combined 232,697 subscribers last week, far outpacing the growth of all other communities. With much of the market fixated on Bitcoin’s (BTC) sudden price correction over the weekend, retail interest in digital assets appears to be on the rise, according to the latest statistics from Reddit. The r/dogecoin community added 145,859 weekly subscribers, according to Subreddit Stats. The gains are hardly surprising given DOGE’s dramatic rally over the past week. The meme-based cryptocurrency skyrocketed 400% during that period, bringing […]

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Bitcoin’s Silent Revolution: Technology And Invention, Plebeian And Ruler

The characteristics inherent to technologies enable the increasing freedom of citizens under rulership; Bitcoin is one such technology. Technology and Invention We must redefine two special words often spoken as synonyms—technology and invention. Technology is something that, once released, never disappears. An invention is something that, once invented, is destined to be “un-invented” or made obsolete. We can say with confidence that inventions like the iPhone or Facebook will be rendered archaic, replaced by something fresh which will again be made obsolete by something fresher. Contrast this […]

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Top 5 cryptocurrencies to watch this week: BTC, VET, SOL, EOS, FTT

The bulls are trying to stabilize Bitcoin price and if they succeed, VET, SOL, EOS and FTT could quickly bounce back to their local highs. Bitcoin (BTC) price witnessed a sharp dump to $50,900 on April 18, which some analysts attribute to a drop in hash rate and rumors of possible action by United States regulators against unnamed “financial institutions” alleging crypto-related money laundering. While it is difficult to pinpoint a single reason, the sale of roughly $5 billion worth of COIN stock by Coinbase executives could have also […]

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Hedge Fund Investment Firm Brevan Howard to Start Investing in Cryptocurrencies

Brevan Howard, one of Europe’s largest hedge funds with $13.7 billion in assets under management, is reportedly set to start buying cryptocurrencies. The investment firm previously bought a 25% stake in One River Asset Management, which runs a number of cryptocurrency funds. Major Hedge Fund to Start Investing in Cryptocurrencies Investment management firm Brevan Howard is reportedly preparing to start buying cryptocurrencies, Bloomberg reported, citing a person familiar with the matter. The firm’s cryptocurrency investments will be overseen by Distributed Global’s co-founders Johnny Steindorff and Tucker Waterman. […]

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China is studying crypto as an investment tool, says PBoC deputy governor

The central bank official said stablecoins issued by private companies may require “stronger regulatory rules” than Bitcoin. Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets. According to Chinese journalist Colin Wu, Li made the comments at the Boao Forum in southern China on Sunday. The PBoC head said there are still regulatory risks for the central bank, citing its previous […]

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Peak fear? Bitcoin funding rates crash to lowest levels in 7 months

The funding rate of Bitcoin dropped to a level unseen since September 2020, signaling fear in the market. The funding rate of Bitcoin (BTC) has dropped to levels not seen since September 2020 as the price of Bitcoin plummeted below $52,000 on April 18. Quant trader and analyst Lex Moskovski says it shows fear has returned to the market. According to the data from Glassnode, the average Bitcoin futures funding rate across all exchange dropped to as low as around -0.03% on Sunday What is funding rate and […]

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More IRS summonses for crypto exchange account holders

The recent John Doe summons developments indicate that the IRS is seriously interested in crypto — better to report than to be audited. The United States Internal Revenue Service has been hunting crypto vigorously for more than five years now, and the pace is getting faster. A couple of decades ago, the IRS was after offshore accounts, and that effort was among the most successful in the IRS’ history. Now, it’s crypto the IRS is after, and there’s no suggestion that the IRS intends to fail. The […]

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OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

Rumors concerning the U.S. Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums. There’s been no formal announcement from the U.S. entity and at this stage, the news is widely considered FUD. However, some are assuming the hearsay stems from the recent Russian sanctions announcement last Thursday. On April 15, the U.S. Treasury published a press release explaining government escalated sanctions against the Russian government and the announcement touches upon the use of cryptocurrency addresses for […]

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