Tag: News

Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official – Regulation Bitcoin News

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An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that “cryptocurrency does not have any underlying value.” Indian Government Official on Crypto Indian government official Rajeev Chandrasekhar talked about cryptocurrency Thursday at an event in Bengaluru. Chandrasekhar currently serves as both India’s Minister of State for Electronics and Information Technology and Minister of State for Skill Development and Entrepreneurship. He is also a…

JPMorgan CEO Jamie Dimon Calls Bitcoin ‘Hyped-up Fraud’ — Expects Satoshi Nakamoto to Increase BTC Supply Cap – Featured Bitcoin News

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JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins. JPMorgan’s CEO on Bitcoin and Its Supply Cap The CEO of global investment bank JPMorgan Chase, Jamie Dimon, reiterated his skepticism about bitcoin in an interview with CNBC Thursday. The JPMorgan executive claimed: Bitcoin itself is a hyped-up fraud. It’s a pet rock. Regarding the collapse of cryptocurrency exchange…

IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance – Regulation Bitcoin News

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An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing director at the IMF, believe that, given the growing links between legacy finance and crypto, cryptocurrency’s volatility might bring systemic risks to the existing markets. IMF Blog Post Calls for Containing Future Crypto Contagion The…

Wrapped Bitcoin Project Sees 18% Redemption of Circulating Supply in 54 Days – Altcoins Bitcoin News

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Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody Despite Recent Redemptions The Bitgo-backed Wrapped Bitcoin (WBTC) project has been officially in operation since the end of January 2019 and has grown significantly since its launch. At the time of writing, it is the largest operation in terms of…

Former FTX President Launches New Crypto Venture, Raises $5 Million From Leading Investors – Bitcoin News

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Less than a week ago, Brett Harrison, the former president of FTX US, published a 49-part Twitter thread describing his side of the story when he worked for the disgraced co-founder of FTX, Sam Bankman-Fried (SBF). On Friday, Jan. 20, 2023, Harrison revealed that his new firm, Architect, has raised $5 million from investors such as Circle Ventures, Coinbase Ventures, and SALT Fund. Brett Harrison’s Architect Aims to Connect Institutional Investors Across Decentralized and Centralized Exchanges Brett Harrison, the former president of FTX who left the company in Sept. 2022,…

FTX Debtors’ List of Assets Omits Mention of Large Stash of NFTs and ENS Names Owned by Alameda  – Bitcoin News

This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the extremely large stash of non-fungible tokens the company had accrued over the years. FTX and Alameda’s Liquidated Assets Include Thousands of NFTs and ENS Names FTX’s inner circle and the quantitative trading company Alameda Research were heavily…

Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy – Bitcoin News

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According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This news follows a report from Semafor at the end of November 2022 stating that Coindesk had received takeover solicitations from several investors. Coindesk’s Alleged Asking Price: $200 Million or More as Charles Hoskinson and Marsbit Express Interest in Purchase Investors are reportedly considering purchasing the cryptocurrency news publication Coindesk…

SOL Rebounds From Recent Losses, ATOM 5% Higher on Friday – Bitcoin News

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Cosmos raced higher for a second straight session, after recently snapping a four-day losing streak. Friday’s move saw the token move closer to a key resistance level of $12.50. Solana also moved higher earlier in the day, as price bounced from a key support point. Cosmos (ATOM) Cosmos (ATOM), was one of Friday’s notable gainers, as the token moved closer to a key resistance level. Following a low of $11.70 on Thursday, ATOM/USD raced to an intraday peak of $12.38 earlier today. As a result of this move, cosmos moved…

Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit – Featured Bitcoin News

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Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations and facilitate the restructuring process.” Genesis’ Bankruptcy Filing Genesis Global Holdco LLC, a prime brokerage subsidiary of venture capital firm Digital Currency Group (DCG), announced Friday that it has voluntarily filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The…

BTC Back Above $21,000 Despite Genesis Bankruptcy – Market Updates Bitcoin News

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Bitcoin crept back up to the $21,000 level on Friday, as volatility in the cryptocurrency market remained high. After falling by nearly 4% in Thursday’s session, the global market cap is up by 1.14% as of writing. This comes despite the news that crypto lender Genesis has recently filed for bankruptcy. Ethereum was also in the green, as it rebounded from Thursday’s lows. Bitcoin Bitcoin (BTC) climbed higher on Friday, as the world’s largest cryptocurrency rebounded from Thursday’s losses. The rally comes despite the news that crypto lender Genesis has…