Monthly Archives: June 2021

Crypto-finance company Amber Group valued at $1B following $100M raise

The Series B funding round was led by China Renaissance, with participation from several crypto venture funds, including Tiger Brokers, Tiger Global Management, Arena Holdings, DCM Ventures and Gobi Partners. Cryptocurrency investment platform Amber Group has added $100 million to its coffers following a successful Series B fundraiser, bringing its total pre-money valuation to $1 billion — a major milestone for the firm as it enters its fourth year of operations.  The cash injection will be used to “expand global operations to meet client demand and develop […]

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4 reasons why Paul Tudor Jones’ 5% Bitcoin exposure advice is difficult for major funds

Major funds are probably interested in Bitcoin and altcoins, but four significant hurdles are preventing them from investing. In an interview with CNBC on June 14, legendary investor Paul Tudor Jones sounded the alarm over advancing inflation. After last week’s consumer price index (CPI) report showed that United States inflation had hit a 13-year high, the founder of Tudor Investment advocated for a 5% Bitcoin (BTC) portfolio allocation. Mutual Fund companies ranked by assets under management, USD. Source: MutualFundDirectory.org When combined, the world’s 50 largest asset managers […]

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Paraguayan Lawmaker to Present Bitcoin Legislation Next Month — Aims to Make Paraguay Global Crypto Hub

A pro-bitcoin congressman in Paraguay says he will present bitcoin legislation in congress next month with the aim to make Paraguay a hub for cryptocurrency investors worldwide. His efforts follow El Salvador passing a bill making bitcoin legal tender. Paraguay Wants to Be Global Hub for Crypto Investors Following El Salvador passing a bill making bitcoin legal tender, a congressman in Paraguay announced that he is working on bitcoin legislation that will be presented next month. Deputy Carlos Antonio Rejala Helman of the Hagamos Party has called […]

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Minneapolis Fed President Neel Kashkari calls DOGE a ponzi

The central banker previously referred to cryptocurrencies as a “giant garbage dumpster.” Federal Reserve Bank of Minneaopolis President Neel Kashkari took a jab at Dogecoin (DOGE) last week by referring to the meme coin as a ponzi, upping his rhetoric against cryptocurrencies.  Kashkari’s comments were in response to a LinkedIn poll by Paul Grewal, the chief legal officer and corporate secretary at Coinbase, asking his connections about the proper way to pronounce Doge. “The right pronunciation is pon-zi,” Kashkari quipped. Fifty-seven percent of respondents pronounce Doge correctly. […]

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Top 5 cryptocurrencies to watch this week: BTC, ADA, THETA, XMR, AMP

If Bitcoin price remains in the current range, ADA, THETA, XMR and AMP could bounce higher over the coming days. The U.S. Federal Reserve’s plans to advance its timeline for rate hikes to 2023 has led to profit-booking in the U.S. stock market, gold, and Bitcoin (BTC). The markets received a second jolt on June 18 after James Bullard, the president of the United States Federal Reserve Bank of St. Louis, warned th the first rate hike could come as soon as 2022. Now crypto analysts are divided […]

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Sichuan Mining Farms Begin to Shut Down — Seven-Day Stats Show Bitcoin’s Hashrate Plummeting

The hashrate of the Bitcoin network has been steadily falling since June 14 and after Sichuan miners were told to prepare operation shutdowns. Sichuan is the second-densest province in China where most miners are located, according to data stemming from the University of Cambridge. Bitcoin’s hashrate is now hovering just above 100 exahash per second (EH/s). Bitcoin Hashrate Keeps Falling as Sichuan Farms Shut Down Operations The hashrate of the Bitcoin network has been steadily falling. The cause of this seems to be the shutdown of several […]

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Which Nation Will Follow El Salvador’s Lead?

With the nation state game theory playing out in front of us, it is interesting to speculate on who may be next. El Salvador’s bold and groundbreaking move to declare bitcoin legal tender on June 8, 2021 has caught the attention of the world and the imagination of their Latin American neighbors. As the 14th most populated country in Latin America and with a past filled with decades of corrupt leadership and violence, it is unlikely that El Salvador has been the object of envy for any […]

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$71B in crypto has reportedly passed through ‘blockchain island’ Malta since 2017

The Financial Action Task Force, a membership body of 37 jurisdictions and two regional organizations, has flagged Malta’s initial push to attract cryptocurrency business as “problematic.” Malta’s strategy to become a global enclave for digital assets appears to be working, though lax regulatory oversight has raised concerns over money laundering and other financial crime.  Roughly $71 billion, or 60 billion euros, worth of cryptocurrencies have passed through Malta since the tiny Mediterranean state first adopted its “blockchain island” strategy in 2017, the Times of Malta reported Sunday. […]

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Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’

The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think it’s a good idea for the Latin American country to use bitcoin as legal tender and says it could “completely collapse the economy.” Steve Hanke Wants Countries to Adopt Currency Boards Instead of Gravitating Toward Bitcoin Adoption The American economist Steve Hanke knows a lot about currencies, as he is the Cato Institute’s senior fellow and director of the Troubled Currencies Project. […]

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How smart regulation can improve the future of blockchain

Regulatory bodies must evolve with the markets they regulate, and when it comes to the crypto market, it becomes especially important. With extreme positions on both sides, some would have us believe that decentralized technology and regulation are mutually exclusive. As pervasive as that narrative has become, a more evolved view is that both decentralization and regulation are inevitable, so the best results will flow with regulators and innovators coming together. But what will that cooperation look like? At the Stellar Development Foundation, our view is that […]

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