Monthly Archives: August 2021

South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’

The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has reiterated the central bank’s longstanding belief that cryptocurrencies like bitcoin are not currencies. According to Kganyago, crypto-assets, as he prefers to call them, are not currencies because they fail to meet the standard of what constitutes a currency. Crypto and the Currency Test In recent remarks to Mills Soko, a professor at a South African university, Kganyago asserts cryptocurrencies like bitcoin only partially meet one of the three key characteristics of a currency. Kganyago explained: […]

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Billionaire investor John Paulson says crypto has ‘no intrinsic value’

The billionaire subprime short-trader in the 2008 financial crash said that digital assets have a “limited supply of nothing.” Speaking in a recent interview, subprime short investor and billionaire portfolio manager John Paulson criticized the volatile nature of digital assets, while advocating for investments in traditional safe-havens such as gold. The co-founder of Paulson & Co, a New York-based firm launched in 1994, Paulson was a historic beneficiary from the U.S. housing financial market collapse of 2008 after placing a legendary successful short position. However, Paulson recently took […]

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Corporate brands target NFTs and adoption continues to skyrocket

Apart from creating their own digital collectibles, major brands are also acquiring popular NFTs amid the growing popularity of nonfungible tokens. The nonfungible token (NFT) space is arguably one of the most popular aspects of crypto and blockchain technology. Indeed, NFTs are often the topic of conversation, garnering significant interest both from inside and outside the industry. Such is the growing appeal of NFTs outside the crypto space that major brands like Visa and Budweiser are now acquiring popular items from popular collections. These moves are different […]

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Leading DeFi projects launch $100M global adoption initative

The initiative — built on the Celo ecosystem — identified the lack of inclusivity and accessibility in the traditional financial markets. A consortium of leading decentralized finance (DeFi) protocols today announced a collaborative $100 million financial inclusion venture titled “DeFi for the People.” The DeFi applications involved in the project — AAVE, SushiSwap, Curve, 0x and PoolTogether, amongst others — will together provide up to $100 million in educational initiatives, grants, and incentives in an effort to educate individuals globally about decentralized finance. The initiative — built […]

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Cryptowisser : Bitcoin and Ethereum Synergy Essential for Crypto Industry Growth

PRESS RELEASE. August 2021, leading Crypto service comparison site – Cryptowisser, compares the two cornerstones of cryptocurrency, Bitcoin and Ethereum. The latest analysis of the market focused on the pioneering cryptocurrencies Bitcoin and Ethereum. But, differing from the usual Bitcoin vs Ethereum analysis, the focus is on the benefits of both and how they work in synergy to give the industry the strong foundations it needs to grow. Bitcoin and Ethereum The article takes us on a brief journey back in time, highlighting the key stages of […]

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Dubai to benefit from expanding crypto market, Bittrex Global CEO says

The United Arab Emirates has been cementing its presence in the digital asset industry recently with multiple efforts to further adopt blockchain-based technologies. The United Arab Emirates (UAE) and Dubai are among the friendliest jurisdictions for the cryptocurrency industry, according to Stephen Stonberg, CEO of Bittrex Global crypto exchange. Dubai is likely to benefit from the expanding crypto market in the Middle East as local regulators increasingly accept blockchain-related technologies, Stonberg said in a Sunday Bloomberg interview. The UAE and Dubai are “doing all the right things and […]

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Betting on a Bitcoin bull run? Not in September, BTC price data says

Next month is a classic underperformer for BTC/USD, and judging by the current price action, 2021 is no exception. Bitcoin (BTC) may score a new all-time high in 2021, but the odds are that it won’t happen next month. Historical price data confirms that September tends to see BTC price losses — and its best-ever returns are still single figures. September 2021 looks like a classic for BTC As Bitcoin matures, it becomes more noticeable that BTC/USD behaves in similar ways during the same month each year. Q4 […]

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BCH Defi Project Detoken to Close Its Doors Over Regulatory Climate Toward Crypto Derivatives

On August 28, the Bitcoin Cash-based decentralized finance (defi) platform Detoken announced the project is closing its doors on September 4, 2021. The project’s founder, Semyon Germanovich, explained that the main reason for shutting the defi project down is because of the “changing regulatory outlook on cryptocurrency derivatives.” Defi Project Detoken to Shut Down Operations on September 4 In December 2020, Bitcoin.com News reported on the defi platform called Detoken, a project that allowed users to hedge or long their bitcoin cash (BCH) in a noncustodial fashion. […]

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Bitcoin whales join ‘small fish’ in buying BTC as price holds above $47K

Bitcoin addresses holding 1,000–10,000 BTC have resumed accumulating coins. Rich crypto investors are turning their attention back to Bitcoin (BTC) as its price continues to eye a breakout move above $50,000. Crypto-focused newsletter Ecoinometrics reported positive changes in Bitcoin holdings for addresses controlling 1,000–10,000 BTC. So, based on their rising account balances throughout August, Ecoinometrics spotted a renewed accumulation sentiment among “whales,” hinting that wealthy investors consider the current Bitcoin price levels as attractive to place bullish bets. Bitcoin accumulation trend vs. price levels. Source: Ecoinometrics The […]

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Singapore central bank shortlists 15 companies to develop retail CBDC

The 15 finalists will be mentored by the MAS and “be given access to the APIX Digital Currency Sandbox for rapid prototyping of digital currency solutions.” The Monetary Authority of Singapore (MAS) has shortlisted 15 “Global CBDC Challenge” participants to help build an in-house retail central bank digital currency (CBDC). An announcement shared by the MAS shows that the finalists include six companies from Singapore, four from the United States, and one each from Australia, Barbados, Germany, France and Switzerland, out of which only three winners will […]

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