Monthly Archives: June 2021

First Mideast Bitcoin Fund Lists On Nasdaq Dubai Exchange

The Bitcoin Fund has become the first bitcoin investment fund to trade in the Middle East after being listed on the Nasdaq Dubai exchange. The Bitcoin Fund, a Canadian, closed-end bitcoin investment fund, became the first of its kind to trade in the Middle East after being listed on the Nasdaq Dubai Exchange, reported Bloomberg. With the Mideast listing, the fund intends to allow trading of its shares around the globe, around the clock. According to its prospectus, the fund aims to provide its unitholders with exposure […]

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Canaan To Begin Mining Bitcoin Itself, Setting Up Operations In Kazakhstan

Leading bitcoin mining rig manufacturer Canaan will start mining BTC itself and is setting up new operations in Kazakhstan. Bitcoin mining rig manufacturer Canaan, one of the largest mining hardware providers worldwide, has announced that it is making its first foray into mining bitcoin itself by setting up mining operations in Kazakhstan. “We believe that our self-operated Bitcoin mining business will help us improve our financial performance as well as expand our business scope and customer base,” Canaan chairman and CEO Nangeng Zhang said in the announcement. […]

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Bitcoin bounce from $28.8K activates century-old financial model’s bullish thesis

Bitcoin’s recent push from under $30,000 to over $34,500 asserts hopes of a big price recovery ahead. A recent upswing in the price of Bitcoin (BTC) following a nail-biting price crash below $30,000 this Tuesday has activated a classic financial model’s bullish outlook on the cryptocurrency. Titled Wyckoff Method, created by Richard D. Wyckoff in 1888, the model attempts at navigating financial market trends based on the relationship between assets’ supply and demand. The method has two schematics: Accumulation and Distribution. In an Accumulation setup, an asset signals […]

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FTX becomes official crypto sponsor of MLB

Sam Bankman-Fried, founder and CEO of FTX and Alameda Research, announced the new partnership on Wednesday. Crypto derivatives exchange FTX has become an official sponsor of Major League Baseball, setting the stage for broader mainstream recognition of digital assets.  As part of the sponsorship deal, which is expected to last for at least five years, every Major League umpire will receive an FTX patch on their uniform, FTX founder and CEO Sam Bankman-Fried tweeted Wednesday. Over time, the agreement is expected to evolve to include collaboration on […]

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DeFi and NFT crossover project Aavegotchi releases ‘Gotchiverse’ litepaper

DeFi-powered NFTs are headed to the metaverse in a yield farming-meets-Pac Man mashup. One of the original decentralized finance and nonfungible token (DeFi/NFTs) crossover projects is taking a step forward today with the launch of a metaverse litepaper. Aavegotchi — a project that creates upgradeable NFTs backed by yield-bearing positions on lending platform and money market Aave — announced the publication of a litepaper devoted to a gamified metaverse called the “Gotchiverse.” Aavegotchi co-founder Jesse Johnson joked about the sometimes-esoteric features and backstory in the litepaper on […]

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Will regulation adapt to crypto, or crypto to regulation? Experts answer

Here’s what crypto and blockchain industry experts think about the regulatory dilemma related to cryptocurrency. Thibault Verbiest, chairman of the IOUR Foundation, expert at the World Bank and the EU Blockchain Observatory and Forum: “As long as our societies live in a state system, with rule of law, regulators will always look for legally responsible entities in case of illegal or reprehensible acts, even if it means prosecuting the wrong person. We have seen this attitude since the beginning of the internet when access and hosting providers […]

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Spanish court rules John McAfee can be extradited to the United States

Lawyers will have the opportunity to appeal the court’s decision and local lawmakers will need to approve the extradition before it is final. John McAfee, the founder of the antivirus software company of the same name, is one step closer to facing prosecution in the United States for tax evasion. In a ruling released today, the Spanish National Court approved the extradition of McAfee to the United States. The U.S. government had been seeking his extradition for charges including failing to submit tax returns from 2014 to […]

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US Senator Cynthia Lummis ‘Excited’ About Bitcoin’s Price Falling, Plans to Buy the Dip

U.S. Senator Cynthia Lummis said that she is “really excited” about the low price of bitcoin, and is planning to buy the dip. “As soon as it drops a little more I’m going to buy some more,” she said. The senator believes bitcoin is a great store of value. Pro-Bitcoin US Senator Cynthia Lummis Plans to Buy the Dip U.S. Senator Cynthia Lummis from Wyoming commented on the falling price of bitcoin on Tuesday in an interview with Fox Business. She was asked how she felt about […]

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Bitcoin holds $34K as Bloomberg likens $30K support to $4K in 2020 BTC price crash

Long-term outlooks remain bullish but traders are not ruling out more pain first. Bitcoin (BTC) maintained $34,000 support on June 23 as a rebound from six-month lows showed surprising resilience. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bulls see 2020 similarities Data from Cointelegraph Markets Pro and TradingView showed BTC/USD stabilizing on Wednesday after a day of unnerving volatility. At the time of writing, Bitcoin was approaching $34,500 on the back of daily gains which topped 15%. While the latest price action did not convince everyone […]

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Bitmain reportedly suspends Bitcoin miner orders amid booming secondhand supply

By postponing the sales, Bitmain aims to help miners exiting the industry get better prices for mining equipment. Chinese mining giant Bitmain is reportedly scrambling to respond to market conditions amid a major crackdown on the crypto mining activity by local authorities. According to a Wednesday report by Chinese news agency Sina Finance, Bitmain has halted global spot sales for its new Bitcoin (BTC) mining devices in order to avoid losses by customers amid massive selling on the secondary market. By postponing the sales, Bitmain intends to […]

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