Month: May 2021

While a number of media pundits and politicians have been talking about Bitcoin’s energy consumption, there’s been a myriad of firms working toward green solutions well before all the controversy. Unfortunately, critics don’t highlight the amount of renewables miners use or the cogeneration applications. One project called EZ Blockchain has partnered with the Texas-based oil and gas service provider, Silver Energy to monetize wasted natural gas with bitcoin, while reducing emissions. Monetizing Stranded Gas and Reducing Emissions With Bitcoin A Read more …

U.S. Senator Rick Scott has urged Treasury Secretary Janet Yellen to take action on cryptocurrency scams, which he said have risen 1,000% in the past year and cost consumers at least $80 million. “This is an unregulated industry, and the alarming amount of criminal activity surrounding cryptocurrency demands action,” he told Yellen. Senator Scott Alerts Janet Yellen to Cryptocurrency Scams Senator Rick Scott wrote a letter to Treasury Secretary Jenet Yellen on Thursday raising concerns regarding the rising number of Read more …

Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face hefty fines. Deadline for Tax Filing in Brazil Expires Midnight May 31 Brazilian citizens are required to file their 2021 income tax returns before June Read more …

Digital currency market prices have been dropping during the last few days as the crypto economy now rests at $1.53 trillion in value. Crypto trade volumes have increased a hair on Sunday, and a few crypto assets have seen decent percentage gains over the course of the last seven days. Crypto Market Prices Consolidate While Traders Wait to See if Bears or the Bulls Grab the Reigns Last week, crypto proponents witnessed billions of dollars shaved off the entire crypto-economy Read more …

Sveriges Riksbank, the central bank of Sweden, will carry out the next stage of its e-krona project with the help of two organizations from the financial sector. The move signals a transition from the initial in-house testing with simulated participants to cooperation with real, external partners. Riksbank to Work With Handelsbanken and Tietoevry to Test E-krona The main task during the new phase of the pilot will be to trial “the technical solution for the e-krona” with the participation of Read more …

During an interview this week, Metalla Royalty & Streaming CEO, Brett Heath, explained that he believes cryptocurrencies will lead to the next financial crisis. The precious metals boss said history shows that “mass adoption of a new financial product” typically leads to a financial crisis. Precious Metals Exec Says the Public Embracing Crypto May Lead to a Financial Disaster Brett Heath is the CEO of Metalla Royalty & Streaming (NYSE: MTA) (TSXV: MTA), a company designed to generate leveraged precious Read more …

Bitcoin price is showing bearish signs and trading well below $40,000 against the US Dollar. BTC is likely to extend losses below $34,000 and $32,000 in the near term. Bitcoin failed to settle above $40,000 and it started a fresh decline below $38,000. The price is now trading well below $40,000 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $37,500 on the 4-hours chart of the BTC/USD pair (data feed Read more …

Renowned investor Stanley Druckenmiller has shared his views on dogecoin and ethereum. He said he wouldn’t long or short dogecoin and laughs when the meme cryptocurrency rises in value. As for ether, he is skeptical whether it can hold its position. Stan Druckenmiller on Dogecoin and Ether In an interview with The Hustle last week, famed investor Stanley Druckenmiller shared his thoughts on bitcoin, ether, and dogecoin, the meme cryptocurrency that has recently taken the market by storm. Druckenmiller founded Read more …

JPMorgan Chase CEO Jamie Dimon has given personal advice to investors regarding investing in cryptocurrencies, like bitcoin. He said that his own personal advice to people is to “stay away” from cryptocurrencies. However, his bank, JPMorgan, will not stay away as clients want exposure to this asset class. Jamie Dimon’s Personal Advice to Investors About Bitcoin, Other Cryptocurrencies Jamie Dimon, the CEO of JPMorgan Chase, the largest bank in the U.S., gave his congressional testimony before the House of Financial Read more …

Bank of America, Citigroup, and Wells Fargo have shared their policies regarding cryptocurrency before the U.S. Senate banking committee. The three banks are in different stages of offering crypto services to their clients. They also lag behind some of their peers, such as Morgan Stanley and Goldman Sachs, in offering access to investments with exposure to bitcoin or other cryptocurrencies. Bank of America Evaluating Crypto Opportunities The CEOs of Bank of America, Citigroup, and Wells Fargo gave their testimonies on Read more …

Ethereum has followed Bitcoin‘s trajectory and has registered a new 10% correction in the daily chart. The top cryptocurrencies have suffered for the past week. Fear and uncertainty seem to be driving market participants. At the time of writing, ETH trades at $2,270 with red across all charts. The cryptocurrency was rejected after it briefly breached the $2,800 area. During yesterday’s trading session, the rejection was followed by a dropped in Bitcoin and ETH quickly follow. ETH on a downtrend Read more …

The Boston-based cryptocurrency finance firm Circle has announced the company has raised $440 million in financing in order to “drive market expansion and growth.” The investment was led by prominent finance firms like Digital Currency Group, Fidelity Management and Research Company, and FTX. Circle Reveals $440 Million in Financing Circle Internet Financial, Inc. has revealed the company has obtained $440 million in financing from a number of strategic investors. Leading investors in Circle include Atlas Merchant Capital, Digital Currency Group, Read more …