Day: February 18, 2022

Ethereum dominance may dwindle as competitors emerge: Morgan Stanley

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Morgan Stanleyโ€™s wealth management global investment office has published a report on Ethereum (ETH) arguing that the blockchainโ€™s dominance could dwindle if strong market competition emerges. The investment banking giantโ€™s report is titled โ€œCryptocurrency 201: What Is Ethereum?โ€ and it provides a detailed rundown of the ecosystem along with its advantages and disadvantages in relation to Bitcoin (BTC). โ€œDue in part to its more ambitious addressable market, Ethereum faces more competitive threats, scalability issues, and complexity challenges than Bitcoin. Furthermore, Ether is more volatile than Bitcoin,โ€ the report reads. Morgan…

US Lawmakers Introduce Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal Tender โ€“ Bitcoin News

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Several U.S. lawmakers have introduced a bill to mitigate the risks from El Salvador adopting bitcoin as legal tender. โ€œEl Salvador recognizing bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests,โ€ said a U.S. senator. US Concerned About Risks From El Salvadorโ€™s Bitcoin Law The U.S. Senate Committee on Foreign Relations announced Wednesday that Senators Jim Risch (R-Idaho), Bob Menendez (D-N.J.), and Bill Cassidy (R-La.) have introduced a bill titled the โ€˜โ€˜Accountability for Cryptocurrency in El Salvador Actโ€™โ€™ or โ€˜โ€˜ACES Act.โ€™โ€™ The proposed legislation…

CoinGecko’s Bobby Ong on the Metaverse

Bobby Ong: I like Matthew Bellโ€™s definition as he has covered it very comprehensively. In his essay, he says the metaverse will be a) persistent, b) synchronous and live, c) without any cap to concurrent users, d) a fully functioning economy, e) an experience that spans both the digital and physical worlds, private and public networks/experiences, and open and closed platforms, and f) offer unprecedented interoperability of data, digital items, assets, content. Source

Canada Sanctions 34 Crypto Wallets Tied to Trucker โ€˜Freedom Convoyโ€™

CryptoX – Cryptocurrency Analysis and News Portal As part of the Emergencies Act, Canada is broadening the scope the country’s anti-money laundering/anti-terrorist financing rules, which will now include crowdfunding platforms and the payment service providers such as PayPal and Stripe and will include digital assets such as crypto, used by suspected individuals and companies, RCMP Spokesperson told CryptoX in an emailed statement. Source The post Canada Sanctions 34 Crypto Wallets Tied to Trucker ‘Freedom Convoy’ appeared first on CryptoX. CryptoX Portal

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Low Millennial financial well-being drives crypto adoption: report

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Data shows that Millennials in the United States are flocking to alternative financing methods such as crypto assets to boost their financial well-being. A report titled The State of Consumer Banking & Payments by Morning Consult in January found that Millennials are adopting new technologies to help them make financial decisions at a higher rate than any other generation. The author of the report, financial services analyst Charlotte Principato, combined data from 50,000 different respondents to monthly surveys conducted in the U.S. and internationally from July to December 2021. Principato…

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Berkshire Hathaway’s Charlie Munger Says Government Should Ban Bitcoin โ€” Calls Crypto ‘Venereal Disease’ โ€“ Featured Bitcoin News

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Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffettโ€™s right-hand man, wishes crypto would be banned immediately. He says the government made โ€œa huge mistakeโ€ to allow cryptocurrencies, like bitcoin. โ€œItโ€™s like a venereal disease,โ€ he opined. Charlie Munger Says โ€˜It Was a Huge Mistakeโ€™ to Allow Crypto at All Charlie Munger, Warren Buffettโ€™s right-hand man and longtime business partner, talked about bitcoin and cryptocurrency Wednesday in an interview with Yahoo Finance ahead of the annual shareholders meeting at the Daily Journal, where he serves as chairman. Munger previously called bitcoin…

Bitcoin bulls scramble to defend $40,000 as the crypto market sell-off intensifies

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Bitcoin (BTC) and altcoins dropped further on Feb. 17 after the situation in Ukraine worsened and Russia expelled Bart Gorman, the United States Deputy Chief of Diplomatic Mission, from the country after President Bidenย reiteratedย that the threat of a Ukraine invasion by Russia was โ€œvery high.โ€ย  Data from Cointelegraph Markets Pro and TradingView shows that the afternoon resurgence in sell-side pressure dropped the price of Bitcoin to a daily low at $40,081 as bulls frantically regroup and attempt to prevent a slide below $40,000. BTC/USDT 4-hour chart. Source: TradingView According to…