Month: February 2023

Silvergate faces DOJ investigation over FTX and Alameda dealings: Report

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Crypto bank Silvergate is reportedly being probed by the United States Department of Justice fraud unit over its involvement with the bankrupt FTX exchange and its affiliates. The probe is investigating Silvergate’s hosting of accounts linked to former FTX CEO Sam Bankman-Fried’s businesses, according to a Feb. 3 report by Bloomberg, which cited “people familiar with the matter.” The California-based crypto bank is not accused of any crime, but investigators are attempting to discover how deep the dealings with FTX and Alameda went. Silvergate was heavily impacted by the collapse…

Charlie Munger Urges US Government to Ban Crypto Like China Has Done – Featured Bitcoin News

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Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, has urged the U.S. government to ban cryptocurrencies like China has done. “A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house,” he stressed. Berkshire Vice Chair Charlie Munger Wants Cryptocurrencies Banned Berkshire Hathaway Vice Chairman Charlie Munger has urged the U.S. government to ban crypto in an opinion piece titled “Why America Should Ban Crypto,” published by the Wall Street…

Bitcoin BTC Price Dips Into Red but Holds Strong Near $23.5K

Ether fared similarly on the day, dipping late to also fall 1.8% from Wednesday, same time. The second largest crypto in market value was recently changing hands near $1,650. Other major cryptos declined late in the day to flatten or also drop into negative territory. APT, the token of layer 1 blockchain Aptos, plunged 6.5% to lose some of the ground it has gained this year. APT rose more than any other token in January. GALA, the token of the Gala Games play-to-earn platform declined 5%. The CoinDesk Market Index,…

OpenSea serves as an example of why crypto security must improve

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In February 2022, OpenSea fell prey to a major phishing attack that resulted in over $1.7 million in nonfungible tokens (NFTs) being stolen from users. It wasn’t the only incident: Blockchain users reportedly lost $3.9 billion to fraudulent activity in 2022 alone. As we entered 2023, there was a chorus of promises to increase security within the crypto space. But, so far, things haven’t significantly changed. Companies that utilize blockchain still aren’t doing enough to prevent scams. If blockchain technology is going to see mass adoption, companies will have to…

Indonesia targets launch of its national crypto exchange by June

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Indonesia’s Ministry of Trade is reportedly aiming to roll out a national crypto exchange by June this year, six months after its previous target of December 2022. Trade Minister Zulkifli Hasan shared the new target launch date on Feb. 2 at the opening of Crypto Literacy Month in Jakarta, noting that the government is currently reviewing which companies meet their criteria to become part of the exchange, according to local reports. Trade Minister Zulkifli Hasan. Source: Owntalk.co.id There are five active crypto exchanges which are currently registered with the country’s…

MicroStrategy says no plans to stop trading BTC as paper loss hits $1.3B

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Software analytics company MicroStrategy recorded a paper loss of over a billion dollars on its Bitcoin (BTC) holdings in 2022 but says it has no plans to stop trading the digital asset. MicroStrategy released its 2022 Q4 and year-end earnings on Feb. 2 showing the recorded impairment charges on its BTC holdings, net of gains on sale, was nearly $1.3 billion over the full year 2022. Despite the paper losses, on a Feb. 2 earnings call MicroStrategy’s chief financial officer, Andrew Kang, said: “We may consider pursuing additional transactions that…

Fiat is in ‘jeopardy’ but Bitcoin, stablecoins aren’t the answer either: Ray Dalio

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Billionaire investor Ray Dalio has described fiat currency as being in serious “jeopardy” as an effective store of wealth but doesn’t believe Bitcoin (BTC) and stablecoins will be the solution either. Dalio, the founder of hedge fund firm Bridgewater Associates explained on CNBC Squawk Box on Feb. 2 that the mass money printing of the United States Dollar and other reserve currencies has him questioning whether they are forms of “effective money.” “We are in a world in which money as we know it is in jeopardy. We are printing too…

Marathon Digital Sells Mined Bitcoin for First Time to Monetize Recent Rally

The miner said in a release on Thursday that the decision was made to cover some of its expenses. “With bitcoin production increasing and becoming more consistent, we made the strategic decision to sell some of our bitcoin, as previously planned, to cover some of our operating expenses and for general corporate purposes,” Marathon’s Chairman and CEO Fred Thiel, said in a statement. The company still holds about 11,418 bitcoin in its reserve. Source

Amazon Looking to Hire Web3 Staff for Its Cloud Services

AWS has created purpose-built tools for blockchain companies who want to run either “centralized ledger database that maintains an immutable and cryptographically verifiable record of transactions, or a multi-party, fully managed blockchain network that helps eliminate intermediaries,” according to its website. Source AmazonCloudHireServicesStaffWeb3 CryptoX Portal

Robert Kiyosaki Discusses Why Gold, Silver, Bitcoin Are Rising Higher – Markets and Prices Bitcoin News

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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has shared his view on why the prices of gold, silver, and bitcoin are rising higher. Noting that silver is cheap right now, Kiyosaki urged investors to buy a silver coin and start getting richer. Robert Kiyosaki Bullish on Gold, Silver, Bitcoin The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his thoughts on why the prices of his top three investment picks — gold, silver, and bitcoin — are going up. Rich Dad Poor…