Month: April 2022

Terra founder reveals what will happen to UST if Bitcoin price crashes

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Terraform Labs CEO Do Kwon has conceded that a crash in the price of Bitcoin would be “negative” for the stability of the UST stablecoin, but that he expects Bitcoin to go up. Terraform Labs is the entity behind the Terra (LUNA) blockchain platform which plans on buying a total of $3 billion in Bitcoin as a reserve for the UST stablecoin. Kwon made the comments in an interview on the Unchained podcast on Mar. 29. Host Laura Shin asked Kwon what the short term implications of holding so much…

Circle Chooses BNY Mellon to Custody USDC Reserves – Bitcoin News

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Boston-based Circle Internet Financial has announced the company has selected BNY Mellon to custody the firm’s usd coin (USDC) reserves. The company’s dollar-pegged crypto asset is currently the second-largest stablecoin with a current market capitalization of $51.6 billion. BNY Mellon to Become USDC’s Primary Custodian Circle has chosen America’s oldest investment bank to custody the firm’s usd coin (USDC) reserves, according to an announcement published on March 31. While BNY Mellon will become the primary custodian for USDC, Circle expects the partnership to further “facilitate an exchange of expertise on…

Financial markets are ‘not quite ready’ for Bitcoin bonds

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MicroStrategy CEO and Bitcoin permabull, Michael Saylor believes that traditional financial markets aren’t quite ready for Bitcoin-backed bonds.  Saylor told Bloomberg on Tuesday, that he’d love to see the day come where Bitcoin-backed bonds are sold like mortgage-backed securities, but warned that, “the market is not quite ready for that right now. The next best idea was a term loan from a major bank.” MacroStrategy, a subsidiary of @MicroStrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase #bitcoin. $MSTR $SIhttps://t.co/QYw2ZgeE3U — Michael Saylor⚡️ (@saylor) March 29,…

Budget 2022 Live Update: Cryptocurrency पर सरकार सख्त | Budget in Hindi | Nirmala Sitharaman

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io While presenting the budget Finance Minister Nirmala Sitharaman said that 30% tax will be levied on cryptocurrency income. “Crypto currencies will be taxed at 30%. Any income from transfer of any virtual digital asset shall be taxed at 30%. No deductions and exemptions allowed. Loss from transfer of such assets cannot be set off against any other income,” she said. बजट पेश करते हुए वित्त मंत्री निर्मला सीतारमण ने कहा कि क्रिप्टोकरेंसी से होने वाली आमदनी पर 30 फीसदी टैक्स लगेगा. “क्रिप्टो…

Bitcoin Breaks Key Support, Why BTC Could Extend Losses

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Bitcoin failed to stay above the $46,000 support against the US Dollar. BTC is sliding and might even test the $43,200 support zone. Bitcoin is down over 4% and there was a move below the $46,000 support. The price is trading below $45,500 and the 100 hourly simple moving average. There was a break below a key breakout pattern with support near $46,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline and test the $43,200 support zone in the near term.…

Crypto industry fires back after EU vote to block ‘unhosted’ wallets

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The crypto industry has reacted strongly against a EU Parliament committee voting in favor of a regulatory package for tighter know-your-customer (KYC) and anti-money laundering (AML) rules for ”unhosted” private wallets. The new guidelines would require crypto service providers — most commonly exchanges — to verify the identity of every individual behind an unhosted wallet that interacts with them, while any transaction greater than 1,000 Euros ($1,100) would need to be reported to authorities. Coinbase CEO Brian Armstrong vented his frustrations against the move via Twitter, as he drew comparisons…

BITCOIN = NUCLEAR?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io BITCOIN IS A FORCE FOR GOOD BUT A FORCE FOR EVIL? LET’S TAKE A LOOK. OFFICIAL UKRAINE TWITTER FOR DONATIONS – BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14 0:00 – Market Recap | Topics Overview 2:04 – ●▬▬▬▬▬▬CRYPTO ESSENTIALS▬▬▬▬▬▬▬● 🟧 (100% FREE!) Simplified Crypto Education (EASY!) 🟧 DAN Website ► 🧐 Think it’s a SCAM EMAIL? Check it here ⬇️ 🧐 🧐 How to Use Email Analyzer – 🙏 HELP OTHERS THROUGH MICRO-LOANS 🙏 WHY I RECOMMEND & GIVE –…

Citi Predicts Metaverse Could Be $13 Trillion Opportunity With 5 Billion Users – Metaverse Bitcoin News

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Citi has predicted that the total market for the metaverse economy could grow to between $8 trillion and $13 trillion by 2030. In addition, the global bank expects that the number of metaverse users could be as many as five billion. The Metaverse Is Potentially an $8 Trillion to $13 Trillion Opportunity, Says Citi Citi released a new Global Perspectives & Solutions (Citi GPS) report titled “Metaverse and Money: Decrypting the Future” Thursday. The leading global bank has approximately 200 million customer accounts and does business in more than 160…

Bank of Japan official calls for G7 nations to adopt common crypto regulations

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A senior official from the Bank of Japan (BOJ) has warned G7 nations that a common framework for regulating digital currencies needs to be put in place as quickly as possible.  G7 refers to the Group of Seven, an inter-governmental political forum made up of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The statement comes in response to the continued conflict between Russia and Ukraine, as cryptocurrencies and their potential applications for skirting economic sanctions falls under increasing scrutiny. The head of the BOJ’s payment…

VanEck says Bitcoin could hit $4.8M if it became the global reserve asset

American investment firm VanEck believes that Bitcoin has double the upside of gold and could be worth as much as $4.8 million per coin if it becomes the global reserve asset. That’s a big ‘if’ of course, and VanEck thinks the Chinese Yuan is a more likely contender. The lofty assessment for BTC came in a March 30 insights piece written by VanEck’s Head of Active EM Debt Eric Fine and Chief Economist Natalia Gurushina who attempted to compare the price implications for gold and Bitcoin (BTC) if either were…