Day: January 14, 2022

Crypto News Roundup for Jan. 14, 2022

This episode is sponsored by Kava. Today’s Stories: Dogecoin Surge Sees Short Traders Lose $8M After Tesla Store Addition European stocks slip after declines on Wall Street | Financial Times Stock Futures Edge Up Ahead of Bank Earnings – WSJ Central banks start turning off the cash taps | Reuters North Korean Hackers Stole $400M in 2021, Mostly in Ether Pakistan Plans to Ban Cryptocurrencies as Stance Hardens House of Lords Committee Sees ‘No Convincing Case’ for UK CBDC Crypto Exchange FTX Establishes $2B Fund to Invest in Crypto Startups…

President Biden taps economists for Fed governors’ seats, Sarah Bloom Raskin as vice chair for supervision

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The White House has officially tapped former Fed governor Sarah Bloom Raskin to serve as the vice chair for supervision for the Federal Reserve, as well as economists Lisa Cook and Philip Jefferson to fill two empty seats on its board of governors. In a Friday announcement, U.S. President Joe Biden said he had nominated Cook, an Obama-era economic adviser and Michigan State University faculty member, as well as Jefferson, a former research economist for the Fed, to the board of governors in addition to Raskin. Jefferson and Cook will…

'Blockchain City' CityDAO Falls Victim to $95K Hack via Discord

CityDAO, the experiment into decentralized land ownership, has fallen victim to a $95,000 hack by fraudsters on gaming instant messaging site Discord. An attacker hacked one of the project’s admin accounts on Discord, according to the group’s Twitter account. “EMERGENCY NOTICE. A CityDAO Discord admin account has been hacked. THERE IS NO LAND DROP. DO NOT CONNECT YOUR WALLET,” CityDAO tweeted Monday. CityDAO’s founders purchased 40 acres of land in Wyoming in November with the intention of building a “blockchain city.” The project’s aim is to build a city with…

Swiss National Bank Trials CBDC in Transactions With Five Banks – Finance Bitcoin News

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The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX. Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private Banks A wide-range of transactions involving a wholesale central bank digital currency (CBDC) have been processed during the second phase of Project Helvetia, the Swiss National Bank (SNB) revealed in a press release issued on Thursday.…

After Bitcoin’s Weak Start to the Year, Analysts Now Predict Price Increase

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After a rocky start to the year, bitcoin (BTC) appears to have stabilized this week, and some analysts are predicting that prices could be set to rise. Bitcoin has added 1% since Sunday after dropping almost 12% in the first week of 2022. Compared with the first week of 2021, when bitcoin gained 15% and traded above $50,000, this week’s move looks small, but experts say the market might be turning higher now. Prices are likely to rebound from the current level around $42,000 though will remain within the $40,000-$60,000…

A Tongan lord plans for financial security

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A former member of the Tongan Parliament is behind a proposal to make Bitcoin (BTC) legal tender in the tiny Pacific nation of Tonga, following in the footsteps of El Salvador. It’s due for a vote in Parliament in May and the early signs are encouraging. Mataʻiʻulua ʻi Fonuamotu, Lord Fusitu’a told Cointelegraph that plans are in motion to use state-run volcano mining facilities to create wealth in Tonga.  Tonga has 21 volcanoes. “That means one volcano for every 5,000 people.” He owns one volcano himself through his family’s hereditary…

Indian INX exchange reportedly plans to list Bitcoin futures ETF

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Despite the ongoing uncertainty about cryptocurrency regulation in India, local financial firms are backing new ventures aiming to launch Bitcoin (BTC) exchange-traded funds (ETF). Torus Kling Blockchain, a joint venture between Cosmea Financial Holding, a financial firm backed by former Reliance Capital CEO Sam Ghosh, and Kling Trading India, is preparing to launch Bitcoin and Ether (ETH) futures ETFs in India, The Economic Times reported Thursday. The company has signed a memorandum of understanding with India’s major stock exchange, the India International Exchange (INX), to launch crypto ETFs alongside investment…

Bitcoin dips below $42K as new forecast says breakout ‘most probable outcome’ for BTC price

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Bitcoin (BTC) returned closer to $40,000 on Thursday as $44,000 resistance proved too much for bulls to overcome. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Buying another dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD shedding around 4% in 24 hours Friday. The pair had topped $44,450 on Bitstamp before the retracement kicked in, this seeing local lows of $41,780. While disappointing for those hoping that the worst of the pullback was over, analysts appeared unsurprised by the move, which they said could resolve via a fresh test of…