Day: September 14, 2020

Whales can now use Bitcoin to purchase private jets

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A private aircraft sales company has started allowing customers to purchase any of their multi-million dollar jets using Bitcoin. According to a Sept. 13 report from news outlet Business Insider, U.S.-based Aviatrade is currently selling an upgraded 2014 Gulfstream G650ER for $40 million — roughly 3,750 Bitcoin (BTC) as of this writing. Billionaires including Amazon’s Jeff Bezos and Tesla CEO Elon Musk reportedly own the same model, which is capable of traveling up to 7,500 nautical miles, or roughly the distance between Los Angeles and Sydney. “We accept Bitcoin as…

Mad Money host Jim Cramer forecasts a generational wealth storage shift

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Jim Cramer, host of the popular CNBC mainstream markets show, Mad Money, described changing mindsets across generations as they relate to wealth storage.  “I think that my kids, when they get my inheritance, won’t feel comfortable with gold, and will feel comfortable with crypto,” Cramer told Morgan Creek Digital co-founder Anthony Pompliano on a podcast episode. “I have to start recognizing that maybe I am using a typewriter,” he said of his possibly outdated gold storage practices. Cramer’s comment came in the middle of a lengthy interview, which saw the…

You can now only buy LAND for $SAND

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Presale 4.2 of virtual land in The Sandbox metaverse starts on Sep. 15, with over 4,500 of the non-fungible token, or NFT, LANDS up for sale. In contrast to previous LAND sales, the exclusive payment method this time around will be the $SAND utility token. In fact, going forward, all LAND sold on the platform will be sold for $SAND, as Co-founder Sebastien Borget explained to Cointelegraph: “From the inception of the project, we designed $SAND — the ERC-20 fungible token that serves as the main utility token of the…

Binance’s US branch lands in Alabama

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Binance.US, the regulatory-friendly United States branch of crypto exchange Binance, has added Alabama to its list of approved states.  Binance added Alabama to its list in a Sept. 13 announcement, complete with a football graphic as homage to one of the state’s favorite pastimes. The announcement also listed steps necessary for Alabamians getting started on the platform, including account creation and verification. Binance unveiled its ban on U.S. customers in June 2019. The company subsequently released a regulatory-sensitive version of the platform months later, called Binance.US. The U.S. platform’s terms and…

Ethereum Approaches Key Resistance; Break Above Could Spark Move to $650

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Ethereum has seen a strong rebound from its recent lows today, with its ongoing upswing coming about in tandem with the immense technical strength seen by Bitcoin. The aggregated cryptocurrency market is trending higher today, which is partially being driven by Bitcoin’s strong weekly candle close and the ongoing upswing seen in the stock market. Despite Ethereum rebounding from daily lows of $350 that were set at the bottom of yesterday’s selloff, it is important to note that the crypto has yet to break above its key $380 resistance level.…

U.S. Presidential candidate served for alleged securities fraud at rally in NYC

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Presidential candidate Brock Pierce was served for his connection to alleged securities fraud during his campaign rally in New York City earlier today. Source: Twitter. James Koutoulas, the lawyer leading this case, told Cointelegraph that Pierce was served legal documents in connection with a class action case against Block.One — a company that Pierce co-founded. Block.One was the company behind EOS’ $4 billion initial coin offering. The project’s ICO was the largest such offering to date. Brock Pierce has co-founded a number of crypto projects including Block.one, Tether, and Blockchain Capital.…

World’s largest banks lost 3x Bitcoin’s market cap during the pandemic

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Since the outbreak of COVID-19, the world’s 14 largest banks have lost $635.33 billion in market capitalization. This is more than three times the current market capitalization of Bitcoin (BTC) and almost double the capitalization of all cryptocurrencies. Market capitalization of the world’s biggest banks. Source: Buy Shares. The starting point for this data is December 19. For reference, Bitcoin’s market cap at the time was $130 billion. As the world was entering the pandemic induced recession, six of the banks on the list had a market cap higher than…