Tag: News

Analyst Predicts Gold Prices Might Exceed $8,000 in the Next Decade as Central Banks Lose Confidence in Foreign Currency – Economics Bitcoin News

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Jan Nieuwenhuijs, a gold market analyst, has predicted that gold might exceed prices of $8,000 during the next decade, as the current Ukraine-Russia war, and the worldwide battle against inflation, shift the preference of central banks for foreign currencies to gold. The proposed long-term price model shows that each troy ounce of the metal might touch the $10,000 mark. Analyst Makes Case for $8,000 Gold Prices Jan Nieuwenhuijs, a gold market researcher, has predicted that the price of gold might exceed $8,000 during the next decade, as central banks shift…

Number of Irretrievably Lost BTC Now 6 Million — Cane Island Manager – Featured Bitcoin News

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The number of irretrievably lost bitcoins has now reached 6 million, which leaves 13.3 million as coins that remain in circulation, Timothy Peterson of Cane Island Alternative Advisors has said. Peterson added that out of the 1.7 million bitcoins that will be mined in the next 100 years or more, one million coins will be lost in the same period. One Million Lost Bitcoins According to Timothy Peterson, an author and manager of Cane Island Alternative Advisors, the number of irretrievably lost bitcoins has now reached 6 million. In his…

A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking – Economics Bitcoin News

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Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of Wyoming, a financial institution that holds $1.08 for every dollar deposited by customers. Although there appears to be a need for such a bank after the collapse of three major U.S. banks, the Federal Reserve stated that board members have “heightened concerns” about institutions with plans to focus solely on…

US Seizes 18 Crypto ATMs Purchased Using Fraudulent SBA Loans — Arrests Owner – Regulation Bitcoin News

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U.S. law enforcement has seized 18 cryptocurrency ATMs that were purchased using fraudulent loans from the Small Business Administration (SBA) meant to assist small businesses financially harmed by the Covid-19 pandemic. The loans were also used to purchase bitcoin from a New York-based cryptocurrency exchange, said the U.S. Department of Justice (DOJ). Coindawg’s Crypto ATMs Seized The U.S. Department of Justice (DOJ) announced on Thursday that Charles Riley Constant, aka Chuck Constant, has been arrested “for charges in connection with a scheme to steal and launder over $1 million in…

US Lawmaker Introduces Bill to Affirm Blockchain Developers and Non-Custodial Services Are Not Money Transmitters – Regulation Bitcoin News

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A U.S. lawmaker has introduced the Blockchain Regulatory Certainty Act to ensure that developers and non-custodial service providers in the crypto space are not considered money transmitters and are not subject to the same level of regulation as custodial cryptocurrency exchanges. “The longer we delay providing this commonsense clarification, the greater risk that this transformative technology is driven overseas, depriving domestic users and investors,” the lawmaker warned. Blockchain Regulatory Certainty Act Launched U.S. Congressman Tom Emmer (R-MN), the majority whip of the U.S. House of Representatives, announced on Thursday that…

Arrested Bitzlato Exchange Founder Seeks Help From Crypto Community – Exchanges Bitcoin News

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The founder of crypto exchange Bitzlato, who is facing a money laundering case in the U.S., is seeking support from members of the community. Anatoly Legkodymov was arrested in January for his role in the trading platform which allegedly processed millions of dollars’ worth of illicit funds. Bitzlato Founder Looking for Bail Guarantors in U.S. Anatoly Legkodymov, one of the founders and majority owner of the Russia-linked cryptocurrency exchange Bitzlato, has turned to the crypto community, hoping to find U.S. citizens who would agree to become guarantors for his release…

Greenpeace Unveils ‘Skull of Satoshi’ to Spark Debate Over Bitcoin’s Environmental Impact; Creator Clarifies It ‘Wasn’t Meant to Be Anti-Bitcoin’ – News Bitcoin News

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Greenpeace, the well known environmental NGO, has unveiled the “Skull of Satoshi,” an art installation intended to spark debate about the impact of Bitcoin on the environment. The 11-foot skull was constructed with electronic waste materials and features smokestacks and Bitcoin logos. However, its creator, Benjamin Von Wong, explained it was not meant to be an anti-Bitcoin symbol. Greenpeace Unveils ‘Skull of Satoshi’ Art Installation Greenpeace, the international environmental NGO, unveiled the “Skull of Satoshi” on March 23, an 11-foot art installation destined to criticize Bitcoin’s effect on the environment.…

Terra Co-Founder Do Kwon Plans to Appeal Detention Extension After Arrest in Montenegro – Bitcoin News

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According to the Montenegro-based newspaper Vijesti, Do Kwon, the co-founder of Terraform Labs, also known as Kwon Do-hyung, is appealing the detention extension ordered by a Montenegrin court. Kwon was arrested on March 23, 2023, after being caught at Podgorica Airport in Montenegro while traveling with fraudulent identification documents. Report Says Kwon’s Legal Representation Aims to Appeal 30-Day Detention Extension Three days ago, Montenegro’s Interior Minister Filip Adzic announced on Twitter that Do Kwon, the co-founder and CEO of Terraform Labs, was arrested on Thursday for presenting forged identity documents.…

US Government Remains a Top Bitcoin Holder With Seized Stash Valued at $5.6 Billion – Bitcoin News

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As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. The cache of bitcoins is a result of three forfeitures that began in 2020. Glassnode’s on-chain data reveals that on March 9, about 9,860 bitcoins worth roughly $269 million were sent to a Coinbase address. Uncle Sam’s Crypto Stash: How the U.S. Government Became a Top Bitcoin Holder The U.S. government currently holds 205,515 bitcoins valued at $5.66 billion based on today’s exchange rates.…

Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply – Altcoins Bitcoin News

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According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. Meanwhile, from March 14 to March 26, the number of tether stablecoins in circulation increased by 6.12 billion. Stablecoin Circulation Changes In recent weeks, the supplies of some stablecoins have decreased while others have increased.…