Powers On… is a new monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an Adjunct Professor at Florida International University School of Law, where he teaches a course on ‘Blockchain, Crypto and Regulatory Considerations.’ Dear Readers: Here is my first opinion piece for Cointelegraph since my retirement a month ago from law firm practice (and prior to that, the SEC) after a 40 year career. It…
Day: February 11, 2021
Apple Well Positioned to Offer Crypto Trading โ Analyst Says Company Should Hold Bitcoin in Treasury โ Exchanges Bitcoin News
Apple Inc. is well position to offer cryptocurrency trading, according to an analyst with global investment bank RBC Capital Markets. Not only will Apple gain instant market share in the crypto space, but the move could also generate the Iphone maker well over $40 billion in annual revenue. In addition, the analyst says that Apple should follow Teslaโs example and add bitcoin to its balance sheet. Analyst Says Apple to Benefit From Offering Crypto Trading, Should Add Bitcoin to Treasury RBC Capital Markets analyst Mitch Steves believes that Apple Inc.…
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Bitcoin rallies to new record-high after big dip, what’s behind it?
The price of Bitcoin has rallied to a new all-time high above $48,500 merely hours after it saw a large dip to around $43,800. Bitcoin rose by 11.2% in the last 21 hours, posting a strong V-shape recovery in a short period. Bitcoin price chart. Source: BTCUSD on TradingView.com Whatโs fueling the Bitcoin rally? There are three key factors behind the rally of Bitcoin to a new record-high. First, the market structure of Bitcoin was not all that bearish when it started consolidating above $44,000. Scott Melker, a cryptocurrency trader…
Robinhood, Melvin, and Citadel execs expected to testify on GameStop before Congress
Executives from companies involved in the recent controversy between hedge funds and retail investors from Reddit may be testifying at a House Financial Services Committee hearing next week. According to a Reuters report, two people familiar with the matter said executives from trading app Robinhood, investment manager Melvin Capital, and hedge fund Citadel are expected to testify in a congressional hearing scheduled for Feb. 18. Bloomberg reported that Citadel founder Ken Griffin is likely to be in attendance, as is Robinhood CEO Vlad Tenev.ย However, it is unclear at this…
Mastercard, BNY Mellon Embrace Crypto; Amazon Floats ‘Digital Currency’ Project
Three trends 1. Crypto infrastructure is being laid down across the banking, tech and financial sectors. BNY Mellon, the worldโs biggest custodian bank, will allow customers to custody crypto by the end of the year. Itโs working with unnamed outside partners to build out the offering, according to CryptoXโs Ian Allison. Mastercard plans to support digital currency transactions directly on its massive network, and allow merchants that opt in to participate directly in the crypto economy, CryptoXโs Danny Nelson reported. โOur philosophy on cryptocurrencies is straightforward: Itโs about choice,โ Mastercard…
Why is ETH/BTC showing weakness?
The price of Ether (ETH), the native cryptocurrency of Ethereum, has been stagnating against Bitcoin in recent days after a strong few weeks against BTC. In the past few weeks, ETH and BTC have shown some inverse correlation as ETH rallied strongly when BTC consolidated, and vice versa. ETH/BTC 15-minute price chart (Binance). Source: TradingView.com So why is ETH struggling at the moment? In the last several hours, Bitcoin has seen a decent rally after BNY Mellon said it would begin offering Bitcoin services later this year. Roman Regelman, the…
BNY Mellon Stipulates Plans to Hold, Issue and Transfer Bitcoin and Other Digital Assets Later This Year
To start with, BNY Mellon will offer custodian services to its clients, then move forward to what its clients demand most. The Bank of New York Mellon Corp (NYSE: BK) alias BNY Mellon has revealed plans to hold, issue, and transfer Bitcoin and other cryptocurrencies for its institutional clients later this year. Speaking in an interview, Mike Demissie, the head of advanced solutions at BNY Mellon said the bank will focus on the customersโ demand, besides the regulatory side. To start with, BNY Mellon will offer custodian services to its…
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Why Jigstack Is Microsoft of DeFi
Like Microsoft, Jigstack is looking to provide appealing and user-centric services, albeit in a decentralized manner. It takes great efforts on the part of businesses to emerge as the powerhouse of their industry. As such, only a handful of companies have achieved this feat in the last couple of decades. One of such is Microsoft, a colossal force in the tech world. This brand has somehow positioned itself as the nexus between users and innovative products. Interestingly, Jigstack, a decentralized autonomous organization, is towing a similar path. Here is how!…