British multinational investment bank, HSBC, has stopped accepting transactions from cryptocurrency exchanges. While the reason for the move is still unclear, the new development coincides with a warning from the UK’s Financial Conduct Authority (FCA) that investors could lose their entire cryptocurrency holdings. Following the new restriction from HSBC,
Twelve years ago, on January 11, 2009, the first-ever Bitcoin transaction was performed; proving the viability of blockchain transactions. At the receiving end was Hal Finney, a computer scientist. Finney received ten bitcoins from Satoshi Nakamoto, the ‘man” behind the golden mask and Bitcoin’s pseudonymous creator. Finney’s ten
The total market cap of the crypto industry fell by more than $200 billion with Bitcoin plunging to $30,229 on Monday, January 11. Experts have tagged the price correction “healthy and necessary.” It can be recalled that the price of Bitcoin and a number of altcoins have been on
On January 7, 2021, Elon Musk overtook Amazon’s founder, Jeff Bezos to become the world’s richest person. A 6% rise in Tesla share within the same week lifted the CEO’s stock holdings and stock options by $10 billion. As of press time, Musk’s total net worth
Shark Tank star Mark Cuban in a series of recent tweets compared the crypto market to the dot-com bubble of the late 1990s. According to the Dallas Mavericks owner, many people will get their hands burnt investing in cryptocurrencies. On the flip side, many people will also make their fortune.
It is classic investment advice – “buy the dip and sell the high.” Following its run-up to a new all-time high of $42,000, Bitcoin’s price sharply fell to a low around $32,000 on Monday. Sadly, while “weak hands” and retails investors are panic selling, Bitcoin whales are actively
Responding to tweets from Elon Musk and Ben Mezrich about payments in Bitcoin, vocal Bitcoin critic Peter Schiff has said that getting paid in Bitcoin “makes no sense.” Mezrich, the author of “The Accidental Billionaires” and “Bitcoin Billionaires” had on Friday tweeted that he was “never turning down getting paid
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Patrick Hughes, a New York City businessman has opted to sell two of his bars for either Bitcoin or Ethereum. The two adjoining bars (Hellcat Annie’s and Scruffy Duffy’s) are located in Hell’s Kitchen and have been put up for sale for either 25 Bitcoin or 800
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The effects of AI can be seen in almost every domain nowadays. Then how could the crypto world be left behind? The technology is entering into this industry in the form of a Robo Advisor. Robo Advisors, in general, are automated and algorithm-based tools that can help a person manage
There has been a lot of chatter around the proposed rule from the Financial Crimes Enforcement Network (FinCEN) to track crypto transactions. In response to the proposed regulations, cryptocurrency supporters have stepped forward in massive numbers to oppose the rule. FinCEN gave a 15-day window for the public to respond
Finland’s Customs department, Tulli, has decided to sell nearly 2,000 bitcoins valued at around $76 million. The Bitcoin stash was seized by local authorities in 2016 in connection to Darknet drug-trafficking investigations. Four years after, the seized asset is now worth more than 100 times. Although Tulli had
According to billionaire venture capitalist, Chamath Palihapitiya, a single Bitcoin will eventually be worth $200,000. The founder and CEO of Social Capital in an interview with CNBC said that as more people begin to realize that Bitcoin can offer them insurance in a politically and economically unstable society, the
Bitcoin has reached a new all-time high of $41,000. This is coming after the digital gold blasted through the $40,000 psychological wall yesterday and then retraced to the $37.5k range almost immediately. The digital asset is showing no signs of slowing down, despite warnings of being in
In a rather interesting turn of events, several Bitcoin critics are beginning to retrace their steps. The latest on the list is former Federal Reserve governor, Kevin Warsh. According to him, Bitcoin now looks like a sensible investment. In 2018 Warsh argued that Bitcoin was too volatile to be useful.
The South Korean government has finally decided to tax cryptocurrency profits starting from 2023. Following a government-issued amendment on Wednesday, the country will proceed to tax profits from cryptocurrency trading. The legislative notice will last until January 21, and there is a possibility that the amendment will be passed next
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DeFi is currently the hottest trend within the cryptocurrency space, and for a reason. The sector aims to decentralize every aspect of the traditional financial industry, making services like credit, insurance, and others available to all. Services that haven't been easily accessible to all society members, especially those