Day: February 16, 2022

Making sense of the Bitfinex Bitcoin billions

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It’s the Netflix script that wrote itself. A story so outlandish, it’s stunned the crypto community; an industry accustomed to apparent suicides in Spanish jail cells and nonfungible token auctions for dead rappers. The plot involves the United States Department of Justice (DoJ), a crypto exchange with a checkered history, a rapper-cum-Forbes magazine writer, a voucher to buy a new PlayStation, an occasional magician and $4 billion worth of Bitcoin (BTC). The alleged Bitfinex hack money launderers have kept the internet enraptured since the larger-than-life story emerged last week. It’s…

Bitcoin Rally Stalls Amid Skepticism Over Russia Pullback

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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

Banning Bitcoin in Russia is ‘same as banning the internet,’ minister says

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Banning cryptocurrencies like Bitcoin (BTC) is impossible, Russia’s finance minister Anton Siluanov declared as the Bank of Russia keeps calling on the state to ban crypto in the country. Placing a ban on crypto in Russia is the “same as banning the internet, which is impossible,” Siluanov declared at the ministry’s briefing with the central bank, Forbes Russia reported Wednesday. The finance minister reportedly said that starting regulating the cryptocurrency industry as soon as possible is way better than banning it as this would allow the government to finally monitor…

This Bitcoin price fractal from 2018 could trap bulls, sink BTC price to $25K — analyst

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A recent price recovery in the Bitcoin (BTC) market risks getting erased due to an eerie fractal from 2018. Bitcoin price cycle similarities First spotted by CryptoBullet, an independent market analyst, the fractal shows Bitcoin recreating an inverse head-and-shoulders (IH&S) pattern that preceded its price decline toward $3,100 later in December 2018. As a result, anticipations that BTC’s price will undergo similar declines in 2022 might grow.  That is primarily because of the strikingly similar price trends between the pric downtrends in 2018 and 2021-2022. For instance, Bitcoin formed two…

New York Stock Exchange Files Trademark for Offering Trading Services in the Metaverse – Metaverse Bitcoin News

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The New York Stock Exchange (NYSE) has registered a trademark application to offer digital currency and NFT trading services in the metaverse. The application, filed on February 10th, constitutes the first foray of the company into the concept of the metaverse. The organization might be competing with other exchanges and established NFT marketplaces in the future. NYSE Takes Metaverse Seriously The New York Stock Exchange (NYSE) is one of the first bourses in the world seeking to anticipate the rise of virtual worlds and the business opportunities associated…

Bank of Russia Proceeds With Digital Ruble, Renews Push for Crypto Ban

In its letter, the Bank of Russia said that allowing non-qualified investors to trade cryptocurrencies through banks will create “an illusion of government protection” while encouraging people to participate in a “de-facto Ponzi scheme,” Forbes wrote. The government won’t be able to fully control cryptocurrency transactions, and the crypto industry won’t really benefit the Russian economy, the bank said. Source