Month: June 2021

Here’s what you missed so far

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The first official day of the Bitcoin 2021 conference in Miami, Florida yielded no shortage of newsworthy events. Thousands of conference-goers came together to take in speeches, interviews and panels from a wide array of guests, such as Miami mayor Francis Suarez, who spoke about the city’s efforts “to create the Bitcoin, blockchain and mining capital of the world.” Suarez’s track record is filled with various forms of involvement in the crypto and blockchain space, as he noted in his speech.  “The days of a currency being tethered to a…

To ICO or to IDO? That is the question

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Initial DEX offerings are the new initial coin offerings. So, what’s the difference between an IDO and an ICO, other than that one letter?  A lot actually.  In some ways, ICOs and IDOs have more in common with each other than they do with initial exchange offerings, which have more than a few features of the traditional initial public offering of stock markets. While IDOs and IEOs are both listed directly on exchanges — decentralized exchanges, or DEXs, in the case of the former and centralized exchanges for the latter…

Death knell for Chinese crypto miners? Rigs on the move after gov’t crackdown

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When it comes to China, few things are crystal clear, and the nation’s recent crackdown on crypto mining is no exception. The State Council’s Financial Stability and Development Committee reported on May 21 that it is curtailing Bitcoin (BTC) mining amid financial risk concerns, which prompted the South China Morning Post to proclaim that “China’s place at the centre of global bitcoin mining is fading.”  “We are seeing the cryptocurrency market enter a path to ‘de-China-isation’ — first on trading and now on computing power, based on a series of…

Jack Dorsey outlines Square’s tentative plans for Bitcoin hardware wallet

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Square Inc., the mobile payments company behind the popular Cash App, is strongly considering developing an open-source Bitcoin (BTC) wallet, signaling continued conviction in the future of digital currency payments.  “Square is considering making a hardware wallet for Bitcoin,” CEO and co-founder Jack Dorsey tweeted Friday. “If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community.” Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely in the open,…

Indian Central Bank Reaffirms Anti-Crypto Stance

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Share this article The Governor of the Reserve Bank of India has clarified the bank’s aversions to cryptocurrencies.  Indian Central Bank Still Anti-Crypto  India’s central bank is still taking a firm stance against cryptocurrencies. The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, clarified in an online press conference that there is “no change in RBI’s position.” He also said that the central bank has “major concerns around cryptocurrencies.” India is among the world’s least crypto-friendly countries. The Indian government has been deliberating on passing a crypto law…

Forget Elon, here’s why Bitcoin traders should be watching the US Dollar Index instead

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Bitcoin (BTC) prices fell by almost 5% on June 4, continuing the decline into the Friday session as investors grappled with Elon Musk’s cryptic tweets on the cryptocurrency, raising speculation that the Tesla CEO might dump the firm’s remaining 43,2000 BTC stash. #Bitcoin pic.twitter.com/lNnEfMdtJf — Elon Musk (@elonmusk) June 4, 2021 Nonetheless, Bitcoin’s move downside also coincided with a big spike in the U.S. dollar index (DXY), raising speculation that more than one factor accelerated the cryptocurrency’s dramatic plunge during the late Thursday and early Friday session. In retrospect, the…

SpaceX Launches Flight to ISS with Ethereum Node

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Key Takeaways A SpaceX rocket is carrying an Ethereum node to the International Space Station for SpaceChain. SpaceChain offers blockchain custody services and claims this project is a sign of decentralization and censorship resistance of blockchain technology. Institutional clients will get access to the node to better their security and protect their digital assets. Share this article While Elon Musk’s recent tweets have sent the crypto market into a downturn, his company SpaceX has collaborated with SpaceChain to send an Ethereum node to the International Space Station. Ethereum Node Heads…

Bitcoin bulls give ‘conservative’ 10 year estimate for hyperbitcoinization to hit

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Bitcoin (BTC) may be just ten years away from seeing mass adoption in an event known as “hyperbitcoinization.” That’s according to participants of the Bitcoin 2021 Conference in Miami, who on June 4 delivered surprisingly optimistic verdicts on when hyperbitcoinization will come. Bitcoin could be unit of account by 2031 Speaking on a panel, Saifedean Ammous, author of “The Bitcoin Standard,” Unchained Capital head of business development Parker Lewis and Kraken growth lead Dan Held all gave their deadlines for Bitcoin effectively taking over global finance. “I’d say a decade,”…

FTX crypto exchange seals $210M naming rights deal for esports behemoth TSM

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FTX and global esports brand Team SoloMid, oTSM, have signed a multi-year partnership that grants exclusive naming rights to the crypto trading platform. According to a release issued on Friday, the deal is valued at $210 million with the esports brand’s name changing to “TSM FTX.” As part of the deal, TSM FTX will distribute crypto to players and employees with the newly repurposed esports company also purchasing $1 million worth of FTT — the native token of the FTX cryptocurrency exchange. Trading slightly above $34 as of the time…