Tag: News

India Highlights Need for ‘Common Approach to Regulating Crypto Ecosystem’ – Regulation Bitcoin News

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India’s Finance Ministry has highlighted the necessity for “a common approach to regulating the crypto ecosystem” in its flagship Economic Survey this year. “Crypto assets are self-referential instruments and do not strictly pass the test of being a financial asset because it has no intrinsic cashflows attached to them,” the Indian government stated. Finance Ministry’s Economic Survey Includes Crypto This Year Indian Finance Minister Nirmala Sitharaman presented the Economic Survey 2022-23 in Parliament Tuesday. The Economic Survey is an annual flagship document of the Ministry of Finance that outlines the…

Tesla’s SEC Filing Shows Bitcoin Fair Market Value of $191 Million – Featured Bitcoin News

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Tesla’s latest filing with the U.S. Securities and Exchange Commission (SEC) shows that the fair market value of the company’s bitcoin holdings was $191 million at the end of 2022. In addition, billionaire Elon Musk’s electric car company recorded $204 million of impairment losses resulting from changes in the prices of bitcoin. Tesla’s Digital Assets and Its Bitcoin’s Fair Value Elon Musk’s electric car company, Tesla (Nasdaq: TSLA), filed its annual report for the year ended Dec. 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on Monday. The…

82% of Millionaires Ask About Putting Crypto in Their Portfolios, Survey Shows – Featured Bitcoin News

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Asset management firm Devere Group says that 82% of millionaires surveyed have asked their financial advisors about adding cryptocurrencies, such as bitcoin, to their portfolios despite the crypto winter. “Wealthy investors understand that digital currencies are the future of money, and they don’t want to be left in the past,” the firm’s chief executive said. Millionaires to Capitalize in Forthcoming Crypto Bull Run, Devere Says Devere Group, a global financial advisory and asset management firm with $12 billion in assets under management (AUM) worldwide, published the results of its crypto…

Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack – Metaverse Bitcoin News

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During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S. dollar. Meanwhile, several alternative cryptocurrencies saw even greater increases in value, with metaverse tokens like Decentraland’s MANA and The Sandbox’s SAND rising 92-150% against the greenback. Metaverse Crypto Assets Outshine Bitcoin and Ethereum Metaverse crypto assets have outperformed both bitcoin (BTC) and ethereum (ETH), the leading crypto asset and top smart contract token, respectively. In the past month, Decentraland’s MANA token has been the top performer, rising 150% against the…

Ethereum to Reach Peak of $2,474 Per Token in 2023, Finder’s Survey of Crypto and Fintech Experts Reveals – Markets and Prices Bitcoin News

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Seven days ago, finder.com, a product comparison website, published a forecast report based on predictions from several crypto and fintech experts, predicting bitcoin’s year-end price for 2023. Following the bitcoin price prediction report, Finder released another survey focused on ethereum, the second-largest crypto asset in terms of market capitalization. Finder specialists believe ethereum will reach a peak of $2,474 per token this year and end the year at $2,184 per unit. 24% of Panelists Believe Ethereum Will Surpass Bitcoin by 2025, Finder Survey Shows This week, finder.com, a product comparison…

Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs – Bitcoin News

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The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan originations backed by mining equipment. Bankprov’s Portfolio of Cryptocurrency Collateralized Loans Decreased by 65% Bankprov disclosed that it holds approximately $41.2 million in cryptocurrency-collateralized loans, with about $26.7 million of the debt backed by crypto-mining…

FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings – Bitcoin News

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FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials from the United States. FTX Lawyers Argue for Expelling Turkish Subsidiaries From Bankruptcy Proceedings According to a recent bankruptcy court filing, FTX debtors have submitted a motion to remove the company’s Turkish entities from the…

DOGE Hits 8-Week High as Meme Coins Rally on Tuesday – Market Updates Bitcoin News

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Dogecoin climbed to an eight-week high on Jan. 31, as prices broke out of a key resistance level on Tuesday. The meme coin surged ahead following the release of the latest consumer confidence report in the United States. Shiba inu also moved higher, rebounding from losses to start the week. Dogecoin (DOGE) Dogecoin (DOGE) raced higher on Tuesday, as the meme coin broke out of a key resistance level. Following a low of $0.08578 to start the week, DOGE/USD rose to an intraday high of $0.095 earlier today. As a…

Bitcoin Rallied over the Weekend and UK Treasury is in Search for a CBDC Head – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK).  Bitcoin continued its comeback over the weekend, as it rallied to a high of almost $24,000. However, this morning it has retraced all of its weekend gains, as it is now around $23,200, which aligns with the range high from the short-term range Bitcoin broke out from over the weekend. The way Bitcoin reacts at this level could be key in determining Bitcoin’s next move. The UK is demonstrating more urgency toward launching a CBDC, as the U.K. Treasury…

ETH to peak at $2,474 in 2023 According to Finder’s Ethereum Price Predictions Report  – Blockchain News, Opinion, TV and Jobs

Ether is bound for another volatile year in 2023, according to Finder.com’s latest Ethereum Price Predictions Report. Finder’s panel of 56 fintech and cryptocurrency specialists think ETH will go as high as US$2,474 and as low as $984 in 2023 before ending the year at $2,184. Ethereum is currently priced at $1,588. Digital Capital Management managing director Ben Ritchie thinks Ether will be worth $2,500 by the end of 2023 but says it could go as low as $900 throughout the year. “Ethereum continues to dominate the market as the…