Tag: News

70 to 90% Down — Crypto Economy’s Decline Shakes Out $2 Trillion in 8 Months – Market Updates Bitcoin News

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During the past eight months, crypto assets have shed enormous value against fiat currencies like the U.S. dollar. Bitcoin has shed 69% since the leading crypto asset’s all-time high on November 10, 2021, when the digital currency’s value tapped $69K per unit. The crypto economy has seen some healing as the market capitalization of all 13,413 tokens in existence is hovering just below the $1 trillion mark. Today’s Top 10 Crypto Assets Have Lost 70 to 90% in USD Value At the time of writing the entire crypto-economy is worth…

Hacker Selling 1 Billion Chinese Citizens’ Data for 10 BTC, Zuckerberg’s Meta Ends Novi Project, and More — Bitcoin.com News Week in Review – The Weekly Bitcoin News

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In this week’s bite-sized digest of the hottest stories from Bitcoin.com News, a hacker claims to have stolen a massive amount of Chinese citizens’ personal data from Shanghai police, and now wants to sell it for ten bitcoins. Also, Mark Zuckerberg’s Meta has ditched the Novi project, after unveiling a new metaverse wallet. These stories and more, right below. Leaked Personal Data of 1 Billion Chinese Citizens on Sale for 10 Bitcoins — Hacker Claims Stolen From Shanghai Police A hacker claims to have stolen the personal data of a…

LYO Credit (LYO) Is Now Available for Trading on LBank Exchange – Press release Bitcoin News

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press release PRESS RELEASE. INTERNET CITY, DUBAI, Jul. 10, 2022 – LBank Exchange, a global digital asset trading platform, has listed LYO Credit (LYO) on July 7, 2022. For all users of LBank Exchange, the LYO/USDT trading pair is now officially available for trading. Bringing the crypto world into user’s smartphone, LYOPAY provides all services for using cryptocurrencies, including shop payments, exchanges, staking, wallets, and more. Its native token LYO Credit (LYO) has been listed on LBank Exchange at 16:00 (UTC+8) on July 7, 2022, to further expand its global…

Kenya Has Highest Proportion of Crypto Owning Citizens in Africa UNCTAD Data Shows – Emerging Markets Bitcoin News

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The latest data from the United Nations Conference on Trade and Development (UNCTAD) suggest that Kenya has the highest proportion of crypto-owning inhabitants than any other African country. To counter the growing use of cryptocurrencies, UNCTAD said it recommends the imposition of taxes that discourages crypto trading. ‘A Way to Protect Household Savings’ According to the data in the latest (UNCTAD) policy brief, Kenya’s digital currency ownership as a share of the population of 8.5% is the highest in Africa and the fifth-highest globally. Only Ukraine with 12.7%, Russia (11.9%),…

Bitcoin’s ‘Fundamental Value Is Not in Line With Market Price’ — Crypto Miner – Interview Bitcoin News

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Profitable bitcoin mining is essentially a result of an efficient and highly skilled team of professionals that can maintain runtime, a founder of a Bitcoin mining company has asserted. Therefore, even when the price is hovering around $20,000, a bitcoin miner with these attributes can still operate profitably. ‘Bitcoin Fundamentals Rarely Change’ The drop in value of bitcoin from just under $30,000 at the start of June to below $20,000 by mid-month is believed to be one of the factors that contributed to the collapse and insolvency of large crypto…

How to report cryptocurrency transactions on your 2021 tax return

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io People who traded cryptocurrency last year will now have to report it in their 2021 tax return. Shehan Chandrasekera, certified public accountant and head of tax strategy at CoinTracker, joins “CBS News Mornings” with helpful tips for crypto investors. CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Network is your destination for breaking news, live events and original reporting locally,…

Crypto Payments Are Acceptable in Foreign Trade, Russia’s Financial Watchdog Says – Regulation Bitcoin News

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Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in international settlements, the head of the agency, Yuri Chikhanchin, has indicated. The statement adds to growing support for the legalization of international crypto payments in Russia amid financial restrictions imposed over its invasion of Ukraine. Top Financial Regulator in Russia Welcomes International Crypto Payments The Federal Financial Monitoring Service of the Russian Federation, also known as Rosfinmonitoring, fully accepts that cryptocurrencies can be employed for settlements with foreign partners, Yury Chikhanchin, director of the regulatory body has…

Fed’s Brainard Calls for Sound Regulation of Crypto Financial System to Be Established ‘Now’ – Regulation Bitcoin News

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Federal Reserve Vice Chair Lael Brainard has stressed the importance of establishing sound regulation for the crypto financial system “now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.” Fed Vice Chair Brainard on Crypto Regulation Lael Brainard, the vice chair of the Board of the Federal Reserve Governors, talked about crypto regulation and decentralized finance (defi) Friday at a Bank of England conference in London. She began by referencing recent volatility in the crypto market, stating…

Bitcoin Is Cheap — Ethereum Could Be Near Bottom – Markets and Prices Bitcoin News

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Fidelity’s director of Global Macro has shared his bitcoin and ether price outlook. His analysis shows that bitcoin is cheap but ether could be even cheaper. “Ethereum could be close to a bottom,” he added. Fidelity’s Director on Bitcoin and Ether Price Outlook Jurrien Timmer, director of Global Macro in Fidelity Investments’ global asset allocation division, shared his bitcoin and ether price analysis in a series of tweets Friday. Timmer specializes in global macro strategy and active asset allocation. He joined Fidelity 27 years ago as a technical research analyst.…

US Treasury Delivers Crypto Framework to Biden as Directed in Executive Order – Regulation Bitcoin News

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The U.S. Treasury Department has delivered a framework for crypto assets to President Joe Biden, fulfilling its obligation as directed in the executive order on crypto that the president issued in March. U.S. Treasury Secretary Delivers Crypto Framework to Biden The U.S. Department of the Treasury published a fact sheet titled “Framework for International Engagement on Digital Assets” Thursday. It states that the Secretary of the Treasury has delivered to President Joe Biden “a framework for interagency engagement with foreign counterparts and in international fora as directed in the President’s…