Tag: News

Unredacted Financial Documents Show Blockfi’s $1.2 Billion Connection With FTX, Alameda Research  – Bitcoin News

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Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what the company had previously disclosed. Unredacted Documents Reveal Blockfi’s $1.2 Billion Exposure to FTX, Alameda Research It seems that Blockfi had a lot more money tied up with FTX and Alameda Research than what was originally suggested by the firm. A CNBC report indicates that…

ETH Falls Below $1,600 as Relative Strength Sinks – Market Updates Bitcoin News

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Ethereum moved below $1,600 on Jan. 25, with bears selling previously overbought cryptocurrencies. After days of uncertainty, sentiment shifted in crypto markets, with a red wave washing away recent bulls. Bitcoin also dropped below $23,000 as a result of today’s sell-off. Bitcoin Bitcoin (BTC) fell below the $23,000 level on Wednesday, as a red wave swept through cryptocurrency markets. Following a high of $23,048.18 on Tuesday, BTC/USD hit an intraday low of $22,406.08 earlier in today’s session. As a result of today’s drop in price, bitcoin fell to its weakest…

Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries – Economics Bitcoin News

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President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also countries from BRICS and Mercosur. Lula Clarifies Latam Common Currency Intention Luis Inacio Lula Da Silva, president of Brazil, has clarified the facts surrounding the intention that Argentina and Brazil have of creating a Latam common currency, that would be later…

New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning – Africa Bitcoin News

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Crypto asset service providers in South Africa seeking to attract investors via advertisements must “expressly and clearly state that investing in crypto assets may result in the loss of capital.” Influencers working on behalf of crypto asset service providers must “not offer advice on trading or investing in crypto assets and may not promise benefits or returns.” New Code the Result of Collaborative Effort Between ARB and Crypto Entities According to the latest code of practice released by South Africa’s Advertising Regulatory Board (ARB), crypto-related advertisements must clearly warn the…

‘Probably a Good Idea’ – News Bitcoin News

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Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a good idea,” commenting on the topic on social media. Elon Musk Gives His Take on Latam Common Currency The latest reports that Brazil and Argentina will start to study the issuance of a common currency for Latam have already caused reactions all over the world. Elon Musk,…

Crypto Regulation Is Like a Flimsy Umbrella in a Monsoon – Op-Ed Bitcoin News

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You know what they say, “when life gives you lemons, make lemonade.” But when it comes to protecting your crypto funds on centralized exchanges (CEXes), the old adage should be “when life gives you regulations, make a self-custody wallet.” Self-custody is undoubtedly a better solution for protecting the interests of customers in crypto. Regulation alone is not enough. The following opinion editorial was written by Joseph Collement, General Counsel at Bitcoin.com. Don’t get us wrong, regulation is important. It’s like a flimsy umbrella on a sunny day – better than…

Jim Cramer Says Avoid Crypto, Stick With Gold for ‘Real Hedge’ Against Inflation and Economic Chaos – Economics Bitcoin News

The host of Mad Money, Jim Cramer, has advised investors to avoid crypto and stick with gold if they “seriously want a real hedge against inflation or economic chaos.” He added that bitcoin is too volatile to use as a currency. “Imagine business owners trying to conduct transactions with shares of Facebook or Google … it’s ridiculous,” he stressed. Jim Cramer Prefers Gold to Crypto The host of CNBC’s Mad Money show, Jim Cramer, gave some investment advice regarding gold and cryptocurrencies on Monday. Cramer is a former hedge fund…

Economist Peter Schiff Explains Why Bitcoin and Gold Are up This Year — ‘They’re Rising for Opposite Reasons’ – Markets and Prices Bitcoin News

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Economist and gold bug Peter Schiff has explained why bitcoin and gold are going up this year. “They’re rising for opposite reasons,” he said, claiming that the price of gold is climbing as investors view the metal as a hedge against inflation and a weaker dollar. Peter Schiff Explains Why Bitcoin and Gold Are Rising Gold bug and economist Peter Schiff has shared his view on why bitcoin and gold are going up this year. Schiff is the founder and current chairman of Schiffgold, a precious metals dealer specializing in…

Report – Wallets Bitcoin News

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Seven major banks, including Bank of America, JPMorgan Chase, and Wells Fargo, have reportedly teamed up to launch a digital wallet that will compete with other third-party wallet providers such as Paypal and Apple Pay. Big Banks to Launch a Digital Wallet Bank of America, JPMorgan Chase, Wells Fargo, and four other financial institutions behind the payment network Zelle are collaborating to launch a digital wallet for consumers to use at online checkout, The Wall Street Journal reported Monday. The wallet will be managed by fintech firm Early Warning Services…

Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy – Economics Bitcoin News

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The Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very important that Zambia restructure its debt, but Zambia sees it differently. The embassy castigated Yellen’s comments in response, stressing that the U.S. has a “catastrophic debt problem.” Chinese Embassy in Zambia Denounces U.S. Debt Limit and Yellen’s Recent Comments Last week, U.S. Treasury Secretary Janet Yellen urged Congress to increase the government’s…