Day: May 27, 2021

Big tech, not cryptocurrency, is the real threat to central banks’ autonomy, Danish central bank governor says

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Crypto trading volumes continue to increase, but several countries’ central banks are keen to ignore it, with Denmark being the latest to join the “crypto is negligible” narrative. Lars Rohde, governor of the country’s central bank doesn’t see the rise of crypto trading as a serious economic threat.  “I could be tempted to ignore it,” he told Bloomberg. “I think the term currency is badly used here. Most currencies store value or are means of transactions. There is no stability, no guarantee about the value of cryptocurrencies.” Crypto is a…

The Chart Pattern That Takes Ethereum To $10K

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In a flash, Ethereum is back to trading under $3,000 after just weeks ago reaching a high well over $4,000. The wider crypto market correction got the best of ETH and the rest of altcoins especially, and even managed to take down Bitcoin. However, if past market cycles are any indication of future results, the crash could be the first touch of an ascending trendline that sends the top-ranked altcoin to around $10,000 per ETH. How DeFi and NFTs Make For A Very Different Bull Run Than ICOs During the…

Worst UK bank for dealing with scams issues crypto scam alert

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The U.K bank with the worst record for dealing with scam complaints has issued a cryptocurrency scam alert. NatWest, which was rated as the worst U.K bank for accurately discerning legitimate fraud complaints in 2020, sent the warning to users of its mobile banking app after it reportedly received a record number of scam reports between January and March 2021. The warning made particular note of one type of scam which involves hackers installing remote access software on a victim’s computer or hardware. The trick usually sees criminals winning a…

NFT Livestream: Watch Original Painting Burn as NFT is created by world-renowned Marvel & DC Comics Artist Rob Prior

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Share this article On May 27th, Mogul Productions will host a special event for crypto enthusiasts and newbies alike to join famed Marvel and DC Comics artist Rob Prior and other special guests to discuss the sudden rise and popularity of NFTs in the entertainment industry. Attendees will get to hear from titans in the blockchain and film industries. Interest in NFTs is surging in crypto and beyond. Notably, Mike Winkelmann, the digital artist known as Beeple, sold his “Everydays – The First 5000 Days” NFT for a record breaking…

1inch integrates with Mercuryo, enabling fiat onramp to DeFi

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Decentralized exchange aggregator 1inch Network has partnered with Mercuryo, a cross-border payment network, to provide its users with a more seamless gateway to DeFi — potentially opening up the market to greater adoption.  “To date, some users have been discouraged from entering the DeFi space because most of the existing options for buying crypto are too complicated and inconvenient,” said Sergej Kunz, co-founder of the 1inch Network, adding: “The integration between 1inch and Mercuryo offers everyone a user-friendly way to enter the space, buy crypto with fiat and begin trading…

SEC Investigating Ripple’s XRP “Lobbying Efforts”

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Key Takeaways The SEC is claiming that Ripple made lobbying efforts surrounding the public perception of XRP. Such lobbying efforts have been used to form a legal narrative of XRP that fits Ripple’s own interests, the SEC claims. According to the SEC, evidence of XRP perception lobbying will be be used to counter Ripple’s fair notice defense. Share this article A new development in Ripple’s ongoing lawsuit surfaces. New Turn in Case Against Ripple As part of its ongoing lawsuit against Ripple, the Securities and Exchange Commission (SEC) is alleging…

Andreessen Horowitz leads $40M investment round into crypto-trading platform

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Talos, an up-and-coming institutional technology provider for cryptocurrency trading, has secured $40 million in Series A funding from some of the biggest venture capitalists in the digital asset market.  The raise, which was led by Andreessen Horowitz, also had participation from PayPal Ventures, Fidelity Investments, Galaxy Digital, Elefund, Illuminate Financial and Steadfast Capital Ventures. Talos said the Series A funding will help bootstrap the expansion of its institutional trading platform. The company provides fund managers and other institutions with liquidity sourcing, direct market access, and clearing and settlement services. Its…

Bitcoin tackles $40,000 as Biden unveils new $6 trillion federal spending budget

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Bitcoin (BTC) may get a boost to finally clear $40,000 at the expense of the United States dollar, as U.S. President Joe Biden’s new $6 trillion federal spending budget proposal is unveiled. The United States president will announce the massive fiscal policy on Friday, the largest since the Second World War, to ensure investments in major infrastructure, education, and healthcare projects, reported The New York Times on May 27. Biden reportedly wants the federal government to spend $6 trillion in 2022. He also plans to raise the total spending to…

Sichuan Energy Authorities to Discuss Bitcoin Mining Ban

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Key Takeaways Sichuan’s energy sector regulator has called a meeting to analyze the impact of banning Bitcoin mining. The decision is difficult as miners help electricity providers earn revenue from the energy produced during peak season. Inner Mongolia is already moving to ban Bitcoin mining. Share this article The authoritative body for Sichuan’s energy sector is meeting on Jun. 2 to discuss the impact of shutting down Bitcoin mining operations in the region.  Sichuan Discusses Mining Ban Sichuan’s state agency for energy regulation, which operates under China’s National Energy Administration,…

Carbon-neutral Bitcoin funds gain traction as investors seek greener crypto

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Bitcoin (BTC) has been a hot topic of discussion lately even for those outside the core crypto community, but unfortunately, it’s not for the best of reasons. In particular, the amount of energy required to mine Bitcoin has created concerns for investors who were considering BTC as an option to diversify.  According to the Cambridge Center for Alternative Finance, Bitcoin currently consumes around 110 terawatt-hours per year. A Harvard Business Review article further noted that this equates to 0.55% of global electricity production, which is roughly equivalent to that of a small…