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 “I have to start recognizing that maybe I am using a typewriter,” he said of his possibly outdated gold storage practices.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…
Day: September 14, 2020
Binance’s US branch lands in Alabama
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…
U.S. Presidential candidate served for alleged securities fraud at rally in NYC
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
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…
Peter Brandt says he’s not picking crypto right now, in terms of opportunity
When it comes to choosing between blockchain and more traditional investments, the grass may be greener in the stock market, said Peter Brandt — the CEO of proprietary trading firm, Factor LLC. He went on to note, however, that it all depends on people’s choice of base currency. Brandt was clear that he had transitioned into mostly U.S. dollars while scoping out his next moves. “Right now I think the opportunities are greater in the equities market than they are in the crypto market,” he told Cointelegraph on Sept. 9. …
INX starts accepting crypto payments after raising $7.5M in its IPO
INX, a Gibraltar-based cryptocurrency exchange, is now accepting major cryptocurrencies as part of its initial public offering, or IPO. The company hopes to raise $117 million from both retail and institutional investors. According to the announcement, more than 3,000 retail and accredited investors registered for the INX token offering in the first 3 days. INX says that the company set the offering price $0.90 per token with a minimum investment of $1,000. BTC/USD, ETH/USD and USDC/USD exchange rates will be determined in the manner as disclosed in the final prospectus,…
Crypto.com views Chainlink integration as a gateway to DeFi
Crypto.com (CRO) is adding Chainlink’s price feeds to its DeFi wallet as it begins expansion into the booming space. The company chief operating officer Eric Anziani told Cointelegraph: “I would say with the partnership with Chainlink is kind of our first integration with a DeFi protocol, it brings value to our customers in terms of providing transparency in the prices that we’re giving them in our DeFi wallet and also making sure our ecosystem token CRO can be integrated into the external protocol by building a price feed for CRO…
Crypto mining and remote work drive GPU sales boom in Russia
Graphic cards’ sales in Russia are surging amid an increase in remote work as well as the apparent growth in cryptocurrency mining, a new report says. According to several local retailers like Citilink and Svyaznoy, crypto mining-related sales of graphic cards in Russia notably surged in August 2020, Kommersant reported on Sept. 14. Alexey Rusakov, an executive at local tech distributor Citilink, told Kommersant that sales from mining-enabled graphic cards have spiked 49% in August. This comes in line with a two-fold increase in sales by tech giant Nvidia on a year-on-year…
Report on global blockchain ecosystem by CV VC, PwC and Cointelegraph
From enterprise blockchain adoption to the rise of decentralized finance, it seems like the blockchain landscape is constantly evolving in different ways. While impressive, it’s important to understand how blockchain is being applied within various industries. In order to highlight blockchain’s current global impact, a Swiss blockchain investment firm, CV VC, is releasing a new report together with Big Four firm PricewaterhouseCoopers Switzerland and Cointelegraph. Entitled “CV VC Global Report H1/2020,” this report provides a detailed overview of companies applying blockchain technology across eight different sectors, including art, crypto banking,…
No one can refuse China’s digital currency, says central bank exec
China’s central bank digital currency (CBDC) known as the digital yuan should be regulated in line with cash-related laws, according to a senior exec at the country’s central bank. In an opinion article on Sept. 14, Fan Yifei, a deputy governor of the People’s Bank of China (PBoC), outlined the major regulatory principles for the operation of the digital yuan. the digital representation of the official currency of the People’s Republic of China. According to Fan, the digital renminbi is legally compensatory to the traditional fiat currency. In the article, the deputy governor…