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When bitcoin becomes the global reserve currency, central banks won’t go extinct, but they will have to evolve.
This is an opinion editorial by Jonathan Garner, a Bitcoin, finance and economics blogger at The Capital.
If bitcoin were to really become a global reserve currency, that would mean that the U.S. dollar’s days would be done. What would our daily lives look like under a bitcoin standard? And what would that mean for bitcoin?
Bitcoin price could see a boost amid a widespread financial crisis that has already led to the collapse of several banking giants and put many others at risk, according to Raoul Pal, Real Vision CEO and a former hedge fund manager.
Pal sees the current situation as a potential opportunity for Bitcoin to establish itself as a safe haven asset and gain greater mainstream acceptance.
During a recent interview with Anthony Pompliano on YouTube, Pal shared his optimistic projection that Bitcoin’s value could surge by almost 80% in less than a year. Pal anticipates that the alpha coin’s value will balloon to as much as $ 50,000, partly due to short selling squeezes, where individuals wrongly speculate on Bitcoin’s downfall.
The Financial Services and Markets Authority will have to be notified of major ad campaigns, as a survey reveals crypto investors are often trying to get rich quick.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
The police have moved to arrest a former Massachusetts state facility worker for allegedly stealing nearly $ 18,000 worth of electricity to run an illegal crypto-mining operation. According to reports, the accused, Nadeem Nahas, set up a secret crypto-mining facility inside Cohasset High School’s crawl space.
A new report noted that a judge issued a warrant for Nahas’ arrest after faulting a scheduled court appearance. Reports also revealed that the matter has been under investigation since December 2021.
U.S. authorities are cracking down on the crypto industry and seem ready to introduce stricter regulations against the nascent sector. Many predicted and feared what now seems to be materializing. The recent bankruptcy filings and turmoil in the industry triggered this response.
In an interview with CNBC’s Squawk Box, Gary Gensler, Chairman of the Securities And Exchange Commission (SEC), denied an ongoing attempt to crack down on crypto. The Commission settled a $ 30 million deal with crypto exchange Kraken yesterday.
A UK regulator is investigating the Effective Ventures Foundation, a charity connected to failed crypto exchange FTX, as its founder Sam Bankman-Fried, was a significant contributor to the foundation.
Bankman-Fried, who made a name for himself for his Robin Hood persona, charitable acts, and political donations, hit the headlines in April 2022 when he announced his intention to give away his wealth. But in November 2022, his company FTX went bankrupt. As a result, the Charity Commission in England and Wales has opened an inquiry into Effective Ventures.
Digital Currency Group, better known as DCG, is currently under investigation by U.S. authorities.
According to a report by Bloomberg, U.S. prosecutors in New York – specifically, the city of Brooklyn – are assessing the internal transfers between the multibillion-dollar crypto conglomerate and its crypto lending arm, Genesis Global Capital.
The crypto lending company has been in the spotlight for a long time following its heavy losses last year.
Based on anonymous sources that are close to the investigation, the federal prosecutors are already conducting interviews with certain personnel and requesting office documents.
Social media platform Twitter has been dabbing into crypto for the past years, and the recent Elon Musk takeover might open the door to growing these efforts with Dogecoin (DOGE) at the center. The entrepreneur will implement changes to the platform. This possibility has created a lot of expectations from crypto investors.
According to a report from Bloomberg, there is growing speculation on how Elon Musk might incorporate cryptocurrencies into Twitter. The social media platform enabled users to send and receive Bitcoin and Ethereum transactions and set non-fungible tokens (NFTs) as profile pictures.
The 2023 edition of the Guinness World Records was launched last month. This latest edition included a wide range of different achievements from many sectors, it recognized the crypto space fully under ‘Cryptomania’ with the inclusion of Bitcoin, NFTs, and other crypto events. Also, the record noted the rise of TikTok and space travel events.
Guinness World Records has taken a tour into the virtual world in the report. The 2023 edition brought in a new category tagged ‘Cryptomania.’ This unique aspect added information about Bitcoin and several blockchain events.
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Binance’s blockchain is hacked, Celsius leaks user data in a court filing and Satoshi’s long-lost …
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Bitcoin adoption has always been the subject of rigorous debates in many countries today.
With financial powerhouses such as the U.S. and China still taking a hard stance against cryptocurrencies, it remains to be seen if the adoption of crypto by different nations will reach its peak in the near future.
After all, the respective governments of the above-mentioned countries continue to associate digital assets like Bitcoin with illicit affairs.
But this does not necessarily mean that other countries will follow suit. In fact, there are nations that are slowly making the necessary steps to properly adopt crypto into their financial system.
On-chain data suggests the Bitcoin exchange inflows shot up recently, suggesting selling on exchanges may be behind the latest drop in the crypto’s price below $ 22k.
Bitcoin All Exchanges Inflow Has Observed A Large Value In Recent Days
As pointed out by a CryptoQuant post, whales with 1k to 10k BTC moved a significant number of coins to exchanges recently.
The “exchange inflow” is an indicator that measures the total amount of Bitcoin moving to exchange wallets on any given day.
India’s financial crime-busting agency is now zooming its lens on more than 10 cryptocurrency exchanges in the country for what it believes is illegally moving more than 10 billion rupees ($ 125 million) offshore.
The Economic Times reported, citing unnamed sources, that the yet to be named crypto exchanges were used by several companies as some sort of conduits.
Now, these crypto exchanges are accused of money laundering to make purchases that were then sent to other international wallets, mostly linked to mainland China.
Ethereum-based ERC tokens have consistently remained strong throughout the crypto winter. Projects created using the ERC standard benefit from high levels of security and decentralization as well as Ethererum’s large user base. However, with there being hundreds of ERC projects on the market, finding one set to explode can be quite troublesome.
Throughout this article, we’ll be taking a look at three ERC tokens primed to explode in 2022 and providing a guide detailing how to buy our top pick. Let’s get started.
Top 3 ERC Tokens to Explode – Our Picks
Kraken is among the world’s largest cryptocurrency exchanges which is currently undergoing a federal investigation. The crypto exchange has been suspected of violating U.S sanctions by allowing users in Iran to trade cryptocurrencies.
This alleged violation was discovered through five people who were associated with the company or with the knowledge of the inquiry. This investigation is being carried out by United States Treasury’s Office of Foreign Assets Control.
Currently these investigations are underway and it is directed towards finding out if these sanctions-hit countries were permitted to buy and sell cryptocurrencies. The Treasury Department was planning on imposing a fine against the exchange but it has not suggested a timeline for the enforcement action.
The two cryptocurrency exchanges are under increased U.S. scrutiny for allegedly listing unregistered securities and evading sanctions, respectively.
Scrutiny over cryptocurrency exchanges from U.S. regulators is growing by the day.
Coinbase Global Inc., ($ COIN) is facing a probe from the Securities and Exchange Commission (SEC) following recent charges being brought against a former product manager of the company for insider trading.
Bitcoin has fallen more than 70% from its all-time high in November 2021 and has triggered selling pressure with it. While it seemed that institutional investors were going to hold through the bear market, this has not been the case. Over the last couple of months, the sale of bitcoin in the open market has ramped up, and institutional investors have been revealed to have sold a large percentage of their holdings.
The sell-offs from the institutional investors have been rocking the market, but due to the sales not being disclosed at the time of the sales, the market did not know these companies were offloading their holdings until much later.
Data shows the crypto futures market has observed around $ 150 million in liquidations in the past day as the price of Bitcoin drops below $ 22k.
In case anyone isn’t aware of what “liquidations” are, it’s best to first take a brief look at the workings of margin trading, before jumping into the data.
When a user opens a futures contract on a crypto derivatives exchange, they first need to put forth some initial collateral (in USD or in any coin like Bitcoin), called the margin.
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Crypto companies are in trouble, the EU tries to bring order to the Wild West …
Throughout history, price controls have never been successful in taming runaway inflation. It is impossible to put controls on the bitcoin price.
Nico Antuna Cooper is a university lecturer and works in the borderland. He witnesses the cultural opportunities of Bitcoin in both Latin America and the United States on a daily basis.
