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Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

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The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.

Regulated Swiss non-custodial Bitcoin app Relai has announced the launch of “Relai Business,” a new OTC service aimed at business clients. 

According to the release sent to Bitcoin Magazine, Relai Business will allow small to medium-sized businesses to purchase bitcoin within one day. The service is Relai’s second OTC solution, with the first, Relai Private, being aimed at high net worth individuals, allowing for transactions greater than 100.000 CHF / EUR.  Read more...

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Goldman Sachs To Axe Thousands Of Staff After Announcing Plan To Buy Crypto Companies

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As it prepares for a more challenging climate in 2023, investment bank Goldman Sachs plans to lay off up to 8% of its personnel, according to a source with knowledge of the situation, as reported by The Wall Street Journal on Saturday.

Bloomberg estimates that 4,000 people may lose their jobs as a result of CEO David Solomon’s efforts to stem the bleeding of falling profits and sales.

As a result of a slowdown in mergers and stock offerings, revenues have plummeted this year, and these layoffs are the latest indication that Wall Street retrenchment is intensifying.  Read more...

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EU To Force Crypto Companies To Report Their Users’ Holdings To Tax Authorities

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Potentially, even companies outside of Europe could be forced to disclose user holdings according to the EU.

The European Union indicated Thursday that it will make cryptocurrency companies report their European users’ holdings to tax authorities. The proposed eighth Directive on Administrative Cooperation was previously reported on by CoinDesk, and could have wide-reaching implications including forcing non-EU based companies to have to register with tax entities there.

In a statement, the EU Commissioner for tax, Paolo Gentiloni said, “Anonymity means that many crypto-asset users making significant profits fall under the radar of national tax authorities. This is not acceptable.”  Read more...

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CZ’s Advice To Crypto Companies Point Out What Went Wrong With FTX

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Binance’s decision to purchase the FTX crypto exchange eventually put an end to the uncertainty that shrouded it for the last two days. Although the move shocked the space, it eventually brought to light the challenges that the FTX crypto exchange would have been facing for a while. Binance CEO Changpeng Zhao (aka CZ) has now taken to Twitter to give sage advice to crypto companies, shedding light on FTX’s challenges.  Read more...

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Rising Bitcoin Hash Rate Sets The Stage For Energy Companies

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Bitcoin Mining hash rates are important security metrics as they signify the network’s overall resistance to malicious attacks. Hash rates also measure a blockchain network’s ability to process transactions. Calculations of hash rates may enable miners to forecast their profitability.

Changes in hash rates impact the mining flexibility, profitability, and the number of miners in the network. For proof-of-work networks like Bitcoin, more hash rates signify the network’s strength and ability to deter malicious actors. Similarly, reduced hash rates expose the network to cybercriminals.

Rising Bitcoin Hash Rate Sets The Stage For Energy Companies  Read more...

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Top Public Companies Are Betting Big On Blockchain Technology

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Blockchain technology is now so big that companies can no longer ignore it and some have already started taking the lead in integrating the technology into their businesses. The top companies around the world are currently betting big on the market, and according to a new report, a good chunk of the top 100 countries worldwide are already using blockchain technology.

Top Companies Using Blockchain Technology

The top 100 countries worldwide have trillions of dollars in market cap among them. They range from tech conglomerates to social media giants. But one thing these companies have in common is their ability to embrace new technology to further their businesses.  Read more...

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Where Is Venture Capital Investing In Bitcoin Companies?

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Rather than trying to convince people that they want bitcoin, investors are looking for products that use Bitcoin to meet people where they are.

This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Alyse Killeen to talk about what is happening in the VC space in relation to Bitcoin and what hidden gems are ripe for investment right now.

Watch This Episode On YouTube Or Rumble

Listen To The Episode Here:  Read more...

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Report: Bitcoin Mining Companies Spend Excessively On Administration Compared To Other Industries

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Data shows the public Bitcoin mining companies have been spending more excessively on administration, compared to other industries like gold mining.

Average Public Bitcoin Miner Spends 50% Revenues On Administrative Costs

According to a new blog post by Arcane Research, most BTC miners have only focused on minimizing direct production costs, and neglected indirect expenses like administration.

The “administrative costs” here refer to the expenses incurred by companies that aren’t directly related to revenue generation. Examples of such costs include stock compensation and executive salary.  Read more...

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Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint

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Burning Wasted Gas to Mine Bitcoin Promises to Become a Booming Business

Natural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies are unable to find a profitable market for the excess fuel. It’s often vented into the atmosphere. Startups are now offering on-site systems that utilize the surplus to mine cryptocurrencies. This new business is growing in regions where shale oil and gas extraction are major industries.

Also read: Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status  Read more...

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Chinese Listed Companies and Bitcoin Mining: Partner or Predator?

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Mining

This article was originally published by 8btc and written by Lylian Teng.

Some Chinese listed companies have jumped on the bandwagon of bitcoin mining following the bitcoin bull run throughout 2017, either under the guise of cloud computing or providing mining hosting services, in an effort to bypass regulations considering the country’s tough stance on bitcoin.

A recent report indicating that Huatie HengAn, a subsidiary of Chinese publicly listed company Huatie, lost over $ 23 million for its secret bitcoin mining business has caused quite a stir among investors and triggered investigations from regulators.  Read more...

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Bahrain’s Regulatory Sandbox Teeming With Crypto Companies

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Bahrain's Regulatory Sandbox Teeming With Crypto Companies

Bahrain’s regulatory sandbox has become increasingly crypto-friendly as half of the companies approved are now either crypto exchanges or other crypto businesses including ATMs. There are currently 30 companies approved for the regulatory sandbox by the central bank.

Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request

Regulatory Sandbox

Thirty companies are currently approved by the Central Bank of Bahrain (CBB) for its regulatory sandbox, half of which are crypto service providers including exchanges.  Read more...

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Here’s Forbes’ List of Billion Dollar Companies Using Blockchain

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Forbes has officially released its first list of billion-dollar companies using blockchain technology and the results reveal some interesting trends. Dubbed the “Forbes Blockchain 50,” the list includes some of the largest companies currently leveraging blockchain technology, in addition to a number of companies that may have flown under the radar for anyone but crypto-enthusiasts. […]
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Bitcoin (BTC) Continues to Gain Interest From Investors, VCs and Tech Companies

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The price of Bitcoin (BTC) has seen a sharp increase in the past week, up over 30% — this has led to increased interest from investors all around the globe, including Wall Street. Aside from the price increase, the bitcoin network has been growing at a steady pace with approximately 400,000 daily Bitcoin transactions compared […]
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Online Bank Mistertango Offers Crypto Companies Multiple Accounts and Ibans

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Try Mistertango If You Need a Crypto-Friendly Online Bank

Mistertango is a platform that provides crypto users and businesses with access to traditional finances. Its services are open for exchanges, investors and others involved in the industry. The crypto-friendly payment processor offers both personal and business accounts that come with the option to create multiple Ibans.

Also read: Cryptoradar Finds Best Prices Across Exchanges and Brokers

Crypto Exchanges Are Welcome

The Mistertango platform promises private individuals a fast and easy onboarding process. Personal accounts give users the opportunity to manage their online payments across various devices, mobile and desktop, and stay informed about all transactions and balances thanks to real-time notifications.  Read more...

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State Treasurer: Ohio Companies Now Paying Tax in BTC

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Ohio Companies Now Paying Tax in BTC, Says State Treasurer

Treasurer in the U.S. state of Ohio Robert Sprague has revealed that at least two companies have paid their taxes using bitcoin since the state launched its cryptocurrency payment platform in December. Sprague did not disclose details pertaining to the amount or companies involved, citing confidentiality.

Also read: Liechtenstein Bank Creates Cryptocurrency Trading Platform for Institutional Investors

State to Review BTC Tax Payments

Speaking at a forum organised by the Ohio State Associated Press on Feb. 19, Republican politician Robert Sprague said: “We’re reviewing how [the program] might be either curtailed or might be expanded, and what our counter-party risk is with that vendor.”  Read more...

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EU Smacks Mastercard with $650 Million Fine for Doing What Credit Card Companies Do Best

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By CCN.com: The European Commission on Tuesday slammed Mastercard with a 570.6 million euro ($ 650 million) fine after finding the company guilty of breaching antitrust rules. According to information released by the EU regulatory body, the original fine was reduced by 10 percent because Mastercard cooperated with the Commission during the investigation. Mastercard Overcharged Customers,

The post EU Smacks Mastercard with $ 650 Million Fine for Doing What Credit Card Companies Do Best appeared first on CCN

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China to Enforce Regulation for Blockchain Companies in February

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China’s internet regulator, the Cyberspace Administration of China(CAC) in a detailed document outlined a final draft of regulations concerning cryptocurrency and blockchain companies. The rules will come into effect starting February 19, and provide a set of guidelines that blockchain companies are required to follow. According to the CAC’s director: The Regulations on the Management

The post China to Enforce Regulation for Blockchain Companies in February appeared first on CCN

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