Yemi Osinbajo sees potential for crypto and blockchain. Nigeria’s vice president, Yemi Osinbajo, delivered a speech at an economic summit on Friday in which he spoke positively of crypto and blockchain. “There is no question that blockchain technology generally, and cryptocurrencies in particular, will in the coming years, challenge traditional banking, including reserve banking, in ways that we cannot yet imagine,” Osinbajo said on Friday during the Central Bank of Nigeria, or CBN, Bankers’ Committee Economic Summit. “We need to be prepared for that seismic shift, and it may come…
Category: News
Increasing stock market volatility drags Bitcoin and altcoin prices lower
The cryptocurrency market faced another day of downward pressure as the unease in the traditional markets continues to spread following the recent interest rate spike on the 10-year U.S. Treasury bond. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin (BTC) fell to a low at $44,710 late on Feb. 25 before buying at the key support returned to help the digital asset recover back above $46,500 but generally, analysts are looking for $50,000 to become an established support before expecting bullish continuation. BTC/USDT 4-hour chart. Source:…
China’s Bitcoin Mining Rig Manufacturers Pressed by Demand, Advance Orders, Devices Sold Out – Mining Bitcoin News
A regional report from China indicates that bitcoin mining rig manufacturers have seen a massive surge in demand since the price of the leading crypto asset skyrocketed. Companies such as Canaan Creative have placed significantly sized mining rig orders while other companies like Bitmain are completely sold out. Bitcoin Mining Rig Manufacturers Experience a Device Demand Boom Bitcoin (BTC) prices in February have spiked considerably in value and this has fueled the BTC mining sector a great deal. On Friday, the Bitcoin network hashrate is hovering above the 150 exahash…
Alpha Finance Lab rallies after integrating with Compound and Binance Smart Chain
Alpha Finance Lab (ALPHA) experienced a price breakout on Feb. 25 as a series of significant partnerships has brought renewed interest in the cross-chain DeFi platform. Data from Cointelegraph Markets and TradingView shows that following the announcements, ALPHA price surged to $1.78 but Bitcoin’s recent struggle to hold $50,000 as support led to a sell-off among altcoins and ALPHA currently trades at $1.31. ALPHA/USDT daily chart. Source: TradingView One of the reasons for the sudden surge was the Feb. 25 announcement of a partnership with Compound Finance (COMP) that will…
NFTs based on STARZ show ‘American Gods’ coming soon from Curio
Curio, a platform which sells non fungible tokens, is helping to bring to life NFTs based on the TV series American Gods. The show is based on a novel of the same name by author Neil Gaiman. “We are working with Fremantle on creating officially licensed digital collectibles for the hit TV show American Gods, which airs on STARZ in the U.S. and Amazon Prime Video internationally,” Curio’s CEO, Juan Hernandez, told Cointelegraph, adding: “This is a first-of-its-kind use of NFTs with mainstream media, and it shows how larger marquee brands…
Loose ends and long dramas, Feb. 19–26
Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note One day in the not-so-distant future, the curious experience of episodic television with its week-by-week gaps will be a weird thing that old people strain themselves not to talk about around the youths, until they eventually get, like, really old and stop caring and start turning all of the logistical inconveniences of their early memories into little moral parables. And by “they,” I mean me. And I’m looking forward…
SEC’s Division of Examinations issues Risk Alert on digital assets
The Security and Exchange Commission’s Division of Examinations published today a blueprint for investment managers and institutions on how the Division will inspect the handling of cryptoassets, or “digital asset securities,” moving forward. The Division (formerly the Office of Compliance Inspections and Examinations, or OCIE) is the second largest wing of the SEC, and is tasked with overseeing securities industry players to ensure regulatory compliance. Targeted towards investment advisors, broker-dealers, exchanges, and transfer agents, this Risk Alert provided a broad list of specific procedural, bookkeeping, and advisory steps the Division…
177-Year-Old Swiss Bank Bordier to Offer Bitcoin and Other Crypto Trading Services – Finance Bitcoin News
A 177-year-old bank in Switzerland has enabled cryptocurrency trading within its services, with expectations to expand. Bordier & Cie SCmA added bitcoin and other cryptos to its list of services by partnering with a well-known domestic crypto player. Bordier Customers Can Also Buy and Hold Other Cryptos According to the announcement, the Swiss bank, founded in 1844, argued that a surge in demand from their clients encouraged them to include cryptocurrencies. Bordier & Cie SCmA management believes that they needed to diversify into “alternative asset classes such as digital assets.”…
Cardano is now a top-three cryptocurrency as ADA price soars 27% in 24 hours
Cardano (ADA) received a fresh wave of optimism and buying volume on Feb. 26 that pushed the price of ADA to a new all-time high of $1.29, making Cardano the third-ranked cryptocurrency by market capitalization. Data from Cointelegraph Markets and TradingView shows that ADA surged 27% from a low of $0.98 during the early trading hours on Feb. 26 to its new high at $1.29 on record trading volume. ADA/USDT 4-hour chart. Source: TradingView Momentum for the project has been building throughout the month of February following the integration of…
JPMorgan Strategists Suggests Investors Allocate 1% Into Bitcoin
Strategists at U.S. investment banking giant JPMorgan suggested that investors should consider allocating a small percentage of their portfolio to bitcoin. The strategists’ comments come amid an increase in bitcoin adoption by institutional investors. Strategists Say Bitcoin is a Hedge According to Bloomberg on Thursday (Feb. 25, 2021), strategists Joyce Chang and Amy Ho in a recent note to clients stated that investors should diversify their investment portfolio by including bitcoin. Chang and Ho in their note suggested that investors allocate one percent of their portfolio to bitcoin and other…
