Day: January 14, 2021

GM Shares Soars 1% Following General Motors Conference Where It Unveils New Products

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General Motors investors are arguably betting big on the company’s stock as the firm is set to spinoff about five new products beginning from this year. American multinational vehicle manufacturing company General Motors Company (NYSE: GM) has just recently wrapped up its CES Technology Conference where it unveiled an array of its futuristic products, and the firm’s shares are bouncing up in response. As reported by CNBC, the shares of General Motors opened Wednesday to a new all-time high at $50 per share and the stock closed the trading session…

UK’s FCA crypto derivatives ban may push retail investors to riskier grounds

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It has stated a variety of reasons for why the products cannot be “reliably valued” by retail consumers, such as financial crime, volatility and an inadequate understanding of crypto assets being the main ones. It was estimated that retail investors will save $53 million due to this ban. This is despite the FCA releasing a research stating that U.K. consumers have invested an estimated $2.6 million in crypto assets. Although the main intention of this ban is to protect retail investors from the complexity of these products, the assumption that…

I HAVE A HUGE THETA (THETA TFUEL) ANNOUNCEMENT!! Cryptocurrency Analysis 2020

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io I have a huge THETA (THETA TFUEL) announcement!! In this video, we’ll discuss THETA and TFUEL and some of the news and analysis surrounding the project and cryptocurrencies. Each of the cryptos is unique, and each has their own price predictions and analysis. THETA is definitely a growing and exploding project. I’m so happy to be able to make a big announcement regarding the channel and THETA TFUEL, so make sure you stick around for the video today to hear all of…

OCC Charter Makes Anchorage First Federal Crypto Bank

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OCC acting Chief Brian Brooks asserts that blockchain is the future of banking and that financial institutions will eventually be blockchain-based.  The Office of the Comptroller of the Currency (OCC) announced on Wednesday that it had bestowed a federal bank charter on crypto custodian Anchorage. The bank, which had previously been running as a registered trust company in South Dakota is now the first national cryptocurrency bank. The OCC is a division of the Treasury Department with the directive to keep banks safe and competitive. Financial institutions have been facing…

Bitcoin Bounces as Options Market Sees 20% Chance of $50K at Month’s End

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Bitcoin’s recovery from Monday’s low is gathering pace, with the options market pricing in a double-digit probability of an above $50,000 by the month-end. The leading cryptocurrency by market value is currently trading at $38,300, representing a nearly $4,000 or 11% gain on a 24-hour basis, according to CoinDesk 20 data. The price bounce has erased a significant chunk of losses observed earlier this week. Bitcoin dropped from $40,000 to $30,305 on Monday on heavy selling in the spot market, most notably on the U.S.-based Coinbase exchange. Despite the recovery,…

Gemini exchange to launch credit card with 3% cashback rewards paid in Bitcoin

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Users of the Gemini exchange can now sign up for a cryptocurrency rewards credit card that lets them earn up to 3% back in Bitcoin (BTC). The Winklevoss-led exchange and custodian announced Thursday that the waitlist for the Gemini Credit Card is now open. According to an announcement shared with Cointelegraph, the new card will be launched later this year. Gemini disclosed that it has acquired Blockrize, a crypto payments startup headed by product developers formerly of American Express, JPMorgan Chase, Google and BitMEX. Blockrize has a waitlist of 10,000…

Actress Lindsay Lohan Makes Bullish Predictions for Bitcoin and Ether

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Popular American actress Lindsay Lohan has joined the list of celebrities to talk about cryptocurrency, as the actress made bullish price predictions for Bitcoin and Ether in a promotional video. Bitcoin and Ether Getting to New ATH According to Forbes on Wednesday (Jan. 13, 2021), Lindsay Lohan made a promotional video predicting the prices of Bitcoin (BTC) and Ether (ETH). In the video Lohan forecast new all-time highs (ATH) for both major crypto assets, saying that Bitcoin would get to $100,000, while Ether would be at $10,000. Part of the…

South Korea’s tourist hotspot launches DLT-based app tracing COVID-19

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 Jeju Island, a major tourist destination in South Korea, is introducing a government-backed, system for tracking COVID-19 contacts based on blockchain technology. On Jan. 14, the Jeju Special Self-Governing Province and blockchain technology firm Iconloop announced that the blockchain-based contact tracing system is now fully operational. Called “Jeju Safety Code,” the project was initiated in August 2020 to enable COVID-19 contact tracing for Jeju Island’s 15 million annual visitors. The project has been developed jointly by Iconloop and Jeju Island through a public-private partnership agreement. Since August, the local government…

XRP price fails to ignite recovery as SEC enforcement director leaves post

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The XRP (XRP) price remained relatively unmoved on Thursday, Jan. 14, even as the broader cryptocurrency market ignited a recovery that saw over $150 billion flood back into the global market cap. Earlier this week the United States Securities and Exchange Commission announced the impending departure of Marc P. Berger, the commission’s Acting Director of the Division of Enforcement. The outgoing director was in office for the commencement of the SEC’s $1.3 billion lawsuit against Ripple Labs. Berger leaves his position at the end of the month after just five…