Billionaire Ray Dalio Says Bitcoin Isn’t an Effective Money, Store of Value, or Medium of Exchange – Featured Bitcoin News

Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, says it’s “amazing” what bitcoin has accomplished but believes the cryptocurrency is not going to be an effective money, a store of value, or a medium of exchange. Nonetheless, he stressed that “we are in a world in which money as we know it is in jeopardy.” Billionaire Ray Dalio on Bitcoin Billionaire investor and hedge fund manager Ray Dalio, who founded the world’s largest hedge fund, Bridgewater Associates, and previously served as its co-chief investment officer,…

Binance Says Indian Crypto Exchange Wazirx Can No Longer Use Its Wallet Services – Exchanges Bitcoin News

Binance has announced that Indian crypto exchange Wazirx can no longer use Binance wallet services. Zanmai, the operator of Wazirx, has until Feb. 3 “to remove the funds from the accounts that they used for Wazirx’s operations.” The move followed a public dispute regarding the relationship between Binance and Wazirx. Binance Ends Wallet Services to Wazirx Cryptocurrency exchange Binance said Friday that Indian crypto exchange Wazirx “can no longer use Binance wallet services.” Noting that it “has no control over Wazirx user funds or any aspect of the Wazirx exchange’s…

Binance Returns to Korean Crypto Market — Invests in Troubled Exchange Gopax – Exchanges Bitcoin News

Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance Invests in Troubled Korean Crypto Exchange Cryptocurrency exchange Binance announced Friday that it has invested in Gopax, a licensed crypto exchange in South Korea. The investment marks Binance’s return to the Korean crypto market, which the company exited two years ago, citing low usage and trading volume.…

Top US Crypto Exchange Coinbase Adds Ethereum Staking Altcoin to Listing Roadmap

Top US crypto exchange Coinbase has added the altcoin Liquid Staked Ethereum (LSETH) to its listing roadmap. Liquid Staked ETH is a new “receipt token” investors receive when they stake their Ethereum (ETH) with the Liquid Collective, a liquid staking protocol. The Liquid Collective notes its staking method differs from traditional staking, where users lock up their tokens. “Whereas traditional methods of staking are subject to bonding and unbonding periods (ranging from days to weeks), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their token…

Crypto Exchange Woes Continue: Kraken Reportedly Shutters Regional Headquarters As Bittrex Lays Off 83 Employees

A new report finds that crypto exchanges Kraken and Bittrex are downsizing amid the continued turmoil in the digital asset space. Bloomberg reports that San Francisco-based Kraken shuts down its Abu Dhabi office less than a year after receiving a license to operate a regulated exchange platform in the United Arab Emirates (UAE). The third-largest crypto exchange is laying off 30% of its global workforce as a result of the crypto winter. A spokesman says Kraken already dismissed the majority of its team focused on the Middle East and North…

Overstock-funded tZERO Crypto exchange will shut down March 6

The tZERO Crypto exchange, whose majority owner is Overstock, will shut down on March 6, the company announced via Twitter on Feb. 3. The company says that it will continue to focus on its regulated securities products after the shutdown, as the United States Securities and Exchange Commission (SEC) and other regulators clarify the legal status of crypto assets. Today, tZERO Crypto informed its customers that it will be ceasing operations on March 6, following an orderly withdrawal of assets by the customers, which continue to be held by the…

Bitcoin Won’t Be an Effective Currency, Store of Value or Medium of Exchange, Says Hedge Fund Legend Ray Dalio

In a new interview on CNBC’s Squawk Box, hedge fund veteran Ray Dalio says Bitcoin (BTC) is getting more attention than it deserves. The founder of asset management firm Bridgewater Associates says that what Bitcoin accomplished in the last 12 years is amazing, but investors still have better choices than putting their money on the benchmark cryptocurrency. “It’s a tiny thing that gets disproportionate attention. You know the value of Bitcoin is less than a third of the value of Microsoft stock. You can go into industries. Biotech and many…

Shiba Inu (SHIB) Army Petitions Binance To List Shibaswap (BONE) on World’s Largest Crypto Exchange

The community of Dogecoin (DOGE) competitor Shiba Inu (SHIB) is petitioning Binance to list a crypto asset that was recently designated as the governance token of its upcoming decentralized finance (DeFi) platform. In a new petition on Change.org, the SHIB army is asking the world’s largest crypto exchange platform by volume to list Bone ShibaSwap (BONE), the network’s utility token. “This petition is designed to kindly request of Binance to please list Bone Token to trade… BONE is a governance token of Shibaswap ecosystem which will allow the Shib Army…

Binance Invests in Crypto Exchange GOPAX Years after South Korea Exit

Binance, the world’s largest cryptocurrency exchange, has injected capital into distressed South Korean crypto exchange, GOPAX, two years after it shut down its subsidiary in the country due to low patronage. Bloomberg reports that the crypto exchange purchased a majority stake in GOPAX. At the start of the month, Finance Magnates reported that Binance was making plans to acquire GOPAX CEO Lee Jun-Haeng’s 41.2% majority shares in the crypto exchange. However, in a blogpost published on Friday, Binance only disclosed investing in GOPAX without stating the amount of injected capital.…

Binance severs ties with Indian crypto exchange WazirX

The debacle between the global cryptocurrency exchange Binance and Zanmai, the operator behind the Indian cryptocurrency exchange WazirX, continues in a new blog post from Binance banning the latter from utilizing its services. On Feb. 3, Binance released a post that acknowledged the ongoing “public debate” with Zanmai over its claims of Binance involvement in running WazirX. Binance said on Jan. 26 it gave WazirX the ultimatum of retracting its statements and continuing using Binance wallet services or terminating its usage. According to the announcement, Zanmai made no retraction and…