Global Financial Markets and Wall Street, in particular, experienced one of its worst periods when major financial markets experienced severe slump towards the end of February, with Bitcoin also included. The S&P 500 had its quickest ever correction, with other major indexes suffering as well. Bitcoin also shelled a lot of value, and Michael Novogratz has blamed the fall of Bitcoin’s price to events in the financial markets. Major marke...

The Middle East has just received its first blockchain-based KYC-compliant platform in the region, thanks to a recent collaboration between the Mashreq Bank and Dubai International Financial Centre (DIFC). The platform itself was created by a well-known fintech company, Norbloc. According to what is known, the platform’s goal is to allow corporations and other licensed businesses to instantly open a bank account. The launch was announced by...

A cryptocurrency startup Ripple — the company that created the third-largest cryptocurrency, XRP — has just released 500 million units of XRP from its escrow account. According to current prices, that translates to around $115 million worth of XRP. At the moment, traders are making preparations for the consequences, which may lead to another 500 million XRP-large withdrawal. As many may know, releasing new coins into circulation is no...

A major announcement, posted by Crypto.com earlier today, revealed that the company plans to reward its dedicated community through a month-long promotion for the users who joined the recently-launched Crypto.com Exchange. The company, which pioneered crypto payments, promised rewards up to 500,000 CRO, following the successful launch. Crypto.com was originally founded in 2016, and it still maintains its belief that everyone has the right to cont...

The stock market has seen a major crash following the coronavirus outbreak, causing many to believe that the virus might be responsible. As the virus continues to spread around the world, the fear of its potential impact is believed to be the main cause of a stock market decline, with one of the sharpest ones in history being that of the S&P 500. In fact, many have taken to comparing its crash to that of illiquid altcoins in the crypto indust...

The virus outbreak in China is still raging at full strength, but the crypto and blockchain companies have found a way to cope with the reality of the situation. Fortunately, crypto trading and marketing remain mostly intact, and the same can be said about customer service. However, the outbreak has had a severe impact on product development, logistics, technical upgrades, business travel, and other similar activities. After the outbreak took pla...

A recent defamation case in New South Wales, Australia, might have a lasting — although positive — consequences on the crypto industry. The case saw the NSW district court judge allow cryptocurrency usage as collateral, thus making it a legitimate investment vehicle. The judge in question, Judith Gibson, stated that the coin is a recognized form of investment. However, the judge also acknowledged the coin’s volatility, as report...

One of Bitcoin’s earliest supporters and advocates, Trace Mayer, was recently called out on-stage during a Bitcoin conference. The footage released after the event shows the so-called Bitcoin OG, who has recently fallen from grace in the eyes of the community, being called out for altcoin shilling. Mayer, who is also a host of a podcast called Bitcoin Knowledge, became a target of every Bitcoin maximalist out there, after shilling a new pri...

Battling financial crimes over the past decade has led to a lot of countries’ governments to confiscate massive amounts of cryptocurrencies. With no real idea regarding what to do with the seized coins, governments have either locked them away or sold them in auctions in order to make some use of them and earn a bit of money in the process. However, when it comes to Finnish authorities, they refuse to do so, which has led to them sitting on...

US SEC once again decided to deny a proposal for launching Bitcoin ETFs, once again due to concerns of manipulation of the Bitcoin market. According to the regulator, the proposal — submitted by Wilshire Phoenix — simply did not offer enough evidence to show that the Bitcoin market is immune to manipulation by malicious entities. The SEC has already rejected numerous ETF proposals in the past, causing the market to remain in a stalema...

Square sold $517 million worth of Bitcoin last year with sales of BTC covering around half of the company’s revenue in Q4 2019, data from the latest shareholder letter shows. Square reportedly saw Bitcoin purchase volumes of $178 million in the fourth quarter. With selling more than half a billion worth of Bitcoin in 2019, the financial services company generated $8 million in gross profits. Roughly 2% of gross profit came from subscription and t...

Hacking attacks against crypto exchanges have become fairly common, and not a lot of people are surprised when they hear about them at this point. With that said, attacks on major exchanges are still very important events, and the two exchanges attacked in the last 24 hours are both quite well-known. According to recent reports, Malta-based OKEx was attacked twice, with the first attack taking place yesterday, and the second one targeting exchang...

Ever since Facebook announced its Libra, China had stepped up its efforts to create its own CBDC. In fear of both, many other central banks around the world started developing their own central bank digital currencies, or at least considering and studying them and their potential effects. However, the BoJ (Bank of Japan) Deputy Governor, Masayoshi Amamiya, seems to believe that the banks are reacting too quickly and without enough understanding o...

2020 is expected to be a major year for cryptocurrencies, and so far, they did not disappoint, despite recent price corrections. However, according to analysts, the upcoming Bitcoin halving will lead the crypto sector to heights that were never seen before, which is why every crypto project and business out there is trying to do their best to prepare. When it comes to crypto mining gear manufacturers, they also started rushing to prepare for the...

The potential introduced by cryptocurrencies attracted millions around the world to the crypto industry. However, sometimes, those who felt the attraction are major, influential celebrities. Over the years, many famous names were tied to the crypto sphere, including actors, singers, and many others. Unfortunately, their involvement with digital currencies sometimes has a negative outcome, which is what happened to a famous actor Steven Seagal, wh...

For years now, tech firms that saw great potential in digital currencies and blockchain technology started implementing these decentralized solutions, but the traditional central banks always tried to block them from further development. These days, as crypto businesses gather more strength and influence, it seems that the situation is slowly beginning to change. At least, that is what one senior official at the Bank of England recently said, sta...

Ripple, the cryptocurrency startup that had created the world’s third-largest coin, XRP, is no stranger to legal issues. The company, its officials, and even its coins have been accused of many things, from market manipulation to being a pure scam. However, Ripple usually managed to deal with legal cases that were targeting it and come out on top. This time, however, the firm’s motion to dismiss a major XRP securities lawsuit was deni...

As many are likely aware, the start of the new decade was marked by quite a few incidents and bad news, one of which was coronavirus outbreak in Wuhan, China. Even now, the virus continues to spread, slowly traveling from one country to another after managing to leave China. However, along with the virus, there was also a major spread of fake news, which may have had a negative influence on the prices of numerous cryptocurrencies. Of course, ther...

It has been 11 years since the launch of Bitcoin, and the largest cryptocurrency has gone through a lot during this time. However, one of the most notable “products” of Bitcoin are the so-called Bitcoin Billionaires — businessmen who managed to accumulate massive amounts of wealth by investing in cryptocurrency. Now, according to the Hurun global rich list 2020, the wealthiest of Bitcoin Billionaires on a global level seems to b...

After recently attending dinner with TRON CEO, Justin Sun, legendary investor Warren Buffett once again bashed Bitcoin, claiming that the cryptocurrency has no value. However, while this is not the first time that Buffett has criticized BTC, this time, the leading coin got a new advocate — Virgin Galactic chairman, and founder of an investment firm Social Capital, Chamath Palihapitiya. Palihapitiya recently opposed Buffett’s negative...

As some may remember, a cryptocurrency investor known as Michael Terpin suffered a SIM swap hack, which robbed him of as much as $24 million that he was holding. Terpin then accused mobile operator AT&T of being partially responsible for the incident in a lawsuit, which was just allowed to proceed by the California District Court’s Judge Otis Wright II. The case was initiated back in August 2018, when Terpin alleged that one of the comp...

Dealing with cryptocurrencies has always been intimidating for a lot of people, and not only due to the fact that they are still a new technology. One part of it lies in the fact that crypto transactions are irreversible, meaning that once a user sends their money to another address, that money is gone from their wallet for good. With crypto wallet addresses being seemingly random strings of numbers and letters, even the slightest mistake —...

Crypto-based money laundering has become an important issue among financial regulators, as many countries are now setting up rules to crack down on activities of crypto-based fraudsters. Now, France and Australia are collaborating to tackle crypto-based money-laundering issues. The Australian Institute of Technology (AIT) and the French blockchain security firm NIGMA Conseil, has agreed to set up a technology that would fight against crime perpet...

According to recent reports, it would appear that Finland’s customs agency has a major amount of Bitcoin in its possession, but it refuses to sell it. Its dilemma lies in the fact that it fears of what the coins might be used for by criminals if they were sold and released back into circulation. The country’s Customs, also known as Tulli, has seized around 1,666 BTC from various scammers and other criminals, and it has been trying to...

A rule that forces financial services companies to disclose their cross-border crypto transactions will be updated changed soon. The U.S. Commerce Department of the Bureau of Economic Analysis (BEA) wants to change this rule in the mandatory questionnaire. BEA wants to change the rule and introduce a new one that would offer a better understanding and disclosure of foreign crypto transactions. From the survey, the BEA will determine the feasibili...