Monthly Archives: June 2021

Will An African Country Be The Next To Adopt Bitcoin?

The continent is ripe for the opportunity of embracing the interconnecting digital economy of Bitcoin. With El Salvador becoming the first country to give legal tender status to bitcoin, it begs the question: should African countries follow suit? After June 8, we can say that the world entered the “nation state game theory” phase of Bitcoin adoption. Latin American neighbors to El Salvador, such as Panama, have started mulling over the prospects of passing similar legislation, as they don’t want their nations to be left behind. Latin […]

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Crypto miner claims all major Yunnan operations shut down in advance of CCP anniversary

It’s unclear if the shutdowns are due to orders passed down from above or the result of China’s announced regulatory crackdown on crypto miners. Reports alleged that cryptocurrency miners in China’s Yunnan province may be out of commission for a day if not longer due to the Chinese Communist Party’s 100th anniversary celebration this week. According to Kevin Zhang, the vice president of mining infrastructure company Foundry Services, all major Bitcoin (BTC) mining farms in Yunnan have been shut down as of today. Zhang said he personally […]

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Here’s why pro traders expect further downside from Ethereum price

Ethereum’s EIP-1559 upgrade is fast approaching, but derivatives data shows traders are less than optimistic about ETH’s short-term prospects. Derivatives data shows that Ether (ETH) traders are feeling less bullish when compared to Bitcoin (BTC). Even though the altcoin captured a nearly 200% gain in the first half of 2021 versus Bitcoin’s modest 22% price increase, traders seem to be more affected by Ether’s recent underperformance. Institutional flow also backs the decreased optimism seen in Ether derivatives, as ETH investment vehicles suffered record outflows this past week […]

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House committee reviews cryptocurrency risks, regulations in hearing

A panel of expert witnesses and members of congress discussed the risks and rewards of cryptocurrency in committee Wednesday. The U.S. House committee on financial services held a hearing Wednesday for legislators and a panel of witnesses to discuss cryptocurrency regulation in the United States. The subcommittee on oversight and investigations invited expert witnesses to testify before congress on the risks and opportunities of blockchain technology. Rep. Brad Sherman (D-MN), a ranking member of the House Financial Services Committee, was not keen on the idea of investing […]

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Coinbase to Launch Apple-Like Crypto App Store

Cryptocurrency exchange Coinbase has unveiled its plan to build “the crypto app store,” inspired by how Apple Inc. built its app store. CEO Brian Armstrong said: “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.” In a blog post published on Tuesday, Coinbase CEO Brian Armstrong detailed several opportunities in the crypto space the Nasdaq-listed company is pursuing. One of them was to “Build the crypto app store.” The CEO detailed, […]

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Triall: Bridging the Gap Between Medical Research and Blockchain Technology

The COVID-19 pandemic has ravaged the global economy, leaving many industries re-evaluating the robustness of legacy models in times of crisis. Unsurprisingly, one of the most impacted industries has been the global healthcare industry, as governments raced to test for, treat and develop a vaccine for the fast-spreading virus. Whilst, on the whole, the testing regimes, treatments and vaccination programs have been somewhat successful in developed countries (especially the United Kingdom and Israel), existing pain points in pharmaceutical research and development have exacerbated delays according to a […]

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Bitcoin And The St. Petersburg Game

The apparently infinite value of bitcoin has been expressed in a proposed mathematical situation before. If you’ve fallen down the Bitcoin rabbit hole even a foot, you’ve probably seen references to the idea of “everything there is, divided by 21 million.” Originally posited by Knut Svanholm, Ioni Appelberg and Guy Swann in a YouTube video with the same title, the concept reflects the seemingly infinite potential value of Bitcoin. As it continues to overtake various asset classes like gold and spread into new markets, the total value […]

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3 key areas traders are watching as Bitcoin’s monthly close occurs

As the month of June comes to an end, traders are asking the Magic 8-Ball for answers to the question of where Bitcoin’s price will go next. Bitcoin’s (BTC) whipsaw volatility has been on full display throughout June, leaving traders confused and in search of the latest technical indicator or major news announcement that might provide some hint at which way the price will move.  As the month of June comes toward an end, traders are now focused BTC’s on the monthly close to determine if the forward outlook […]

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George Soros’ investment fund is reportedly trading Bitcoin

In addition to trading crypto, Soros Fund Management is said to be in discussion to acquire blockchain-focused firms. Soros Fund Management, the private investment firm of billionaire George Soros, is reportedly trading Bitcoin (BTC) as part of a broader exploration of digital assets, according to financial news website TheStreet.  People familiar with the matter told author Michael Bodley that Dawn Fitzpatrick, the chief investment officer for Soros Fund Management, gave the green light to trade Bitcoin and possibly other cryptocurrencies in the last few weeks. Speaking on […]

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Formula 1 Secures Multimillion Crypto Sponsorship Deal

Formula 1, the international auto racing organization, has found a new sponsor from the crypto industry. The long-term deal will provide a digital asset trading platform with brand presence at F1 events while the car championship hopes that the partnership will allow it to “explore the world of cryptocurrency.” Crypto.com to Support Formula 1 as Part of Reported $100 Million Sponsorship Agreement The deal between Formula 1 and Crypto.com, which was announced on Tuesday, has been negotiated with the help of sports firm Creative Artists Agency. The […]

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