Day: April 28, 2023

Argentina imports banknotes amid crisis while citizens turn to bitcoin

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Argentina’s Casa de la Moneda struggles to keep up with the central bank’s demand for new banknotes, prompting it to import 1,160 pallets of 1,000-peso denomination banknotes from Paris and Malta. At the same time, bitcoin’s (BTC) popularity in the country increases. Inflation in the country reached a record 7.7% in March, and the government has so far refused to issue higher denomination bills. The move to import more banknotes comes ahead of a key election…

Shiba Inu (SHIB) Ecosystem Altcoin Defies Crypto Market Doldrums Amid New Exchange Listings This Week

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A crucial Shiba Inu (SHIB) ecosystem altcoin is defying the sideways crypto market trend this week, surging more than 16% amid a flurry of new exchange listings. The altcoin, Bone ShibaSwap (BONE), is trading at $1.06 at time of writing, up from $0.913 seven days ago. The 165th-ranked crypto asset by market cap will be used to pay for gas fees on Shibarium, the much anticipated layer-2 project designed to make the Shiba Inu ecosystem more efficient, similar to Polygon (MATIC) on Ethereum (ETH). Shibarium launched its beta version, “Puppynet,”…

Bitcoin price holds $29K as US PCE data sparks 90% Fed rate hike bets

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Bitcoin (BTC) stayed choppy at the April 28 Wall Street open while United States macro data conformed to expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView PCE offers “nothing to shock” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD fluctuating around the $29,000 mark on Bitstamp. U.S. Personal Consumption Expenditures (PCE) Index data, tipped as the macro event of the week, failed to deliver a performance catalyst as numbers broadly conformed to what markets had already priced in. “The trend is our friend, however core sticky for now –…

US CFTC Penalizes Bitcoin Pool Operator $3.4 Billion In Largest Civil Fraud Victory

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Summary: South Africa-based Cornelius Johannes Steynberg was fined $3.4 billion for running an unregistered Bitcoin commodity pool operation, the CFTC announced in a Thursday statement. Steynberg founded Mirror Trading International (MTI), a BTC pool operator that illegally accepted $1.7 billion from 23,000 U.S. citizens while operating out of SA. The news marks the largest civil monetary penalty ever won in the history of the Commodities Futures Trading Commission, America’s commodities watchdog. The U.S. Commodities Futures Trading Commission was awarded $3.4 billion in penalties in a case against South African-based bitcoin…

Tim Draper tells how his family moved into Bitcoin

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Tim Draper, one of the most known Silicon Valley venture capitalists, has played a crucial role in the Draper VC dynasty. Not only because he was an early investor in tech firms like Tesla or Skype but also because he made a turning point in the Draper family’s path to Bitcoin (BTC). In the latest episode of Cointelegraph’s Crypto Stories, Draper tells the story of how the Draper dynasty became bullish on Bitcoin, the broader crypto market and blockchain technology. The Draper family crypto story started years ago when Tim…

Genesis Bankruptcy Parties Agree to a 30-Day Mediation Period

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Digital asset regulations around the world

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As cryptocurrencies continue to become a bigger part of the global economy, more and more governments are exploring ways to regulate the industry and construct rules for firms operating in the space. There have been some significant regulatory developments in recent weeks, with the European Parliament approving the Markets in Crypto-Assets (MiCA) regulations on April 20, Ukraine announcing it would adopt the same set of rules, and South Korea making progress with its proposed regulations. While US regulators have been busy infighting and refusing to provide the most basic of clarity…

FTX Boss Ryan Salame’s Maryland Home Searched by FBI in Unexplained Raid – Bitcoin News

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According to unnamed sources, the home of Ryan Salame, the former co-chief executive of FTX Digital Markets, was searched by the U.S. Federal Bureau of Investigation (FBI) on Thursday. The grounds for the raid remain unknown, and neither Salame nor his legal representative have offered any statement concerning the situation. FBI Conducts Mysterious Search on Home of Former FTX Executive Ryan Salame On April 27, 2023, a report from the New York Times revealed that Ryan Salame, the former co-chief of FTX Digital Markets, had his $4 million house in…

This beaten-up bitcoin proxy should rebound 35%, Berenberg says

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Bitcoin is back in a bull market by many accounts and is poised to continue its 2023 rally as the rest of crypto comes under regulatory scrutiny. Equity investors interested in riding bitcoin’s current uptrend should consider buying shares of Microstrategy , the enterprise analytics firm and bitcoin proxy, according to Berenberg Capital Markets. The firm initiated coverage of the company Thursday with a buy rating and a $430 price target, which is more than 34% from where the stock closed that day. “We believe a combination of circumstances, evolution,…