Category: Cryptonews - Page 2

Bitcoin fails to exceed the USD 30,000 band, what do the experts predict?

Bitcoin has depreciated 1% every day for the last month, highlights Glassnode. Analysts agree that demand is likely to continue to decline due to current market fundamentals. Bitcoin (BTC) turns ten days today without exceeding the USD 30,000 band, at the same time that its minimum price has been rising, behavior that shows that, although there is demand, it is … Read more

Gucci accepts payments with bitcoin and cryptocurrencies

by rcanessa

Gucci customers will be able to make payments with more than 10 cryptocurrencies. Customers from New York, Los Angeles, Miami, Atlanta, and Las Vegas will be able to pay with bitcoin. Gucci, the famous Italian luxury goods firm, launched a pilot program that will allow payments to be made with bitcoin and other cryptocurrencies in five of its stores in … Read more

Bitcoin Bearish Rally Sparks Over $2 Billion Selloffs

by rcanessa

Last Monday, May 10, USD 6.5 billion entered the exchanges. BTC liquidations grew 150% in the last 24 hours. The bitcoin (BTC) market posted the largest sell-off volume since March 2020 on Thursday as its price found support at $25,000, before rallying above $28,000. On the other hand, BTC settlements in the last 24 hours reach USD 2.2 billion, according … Read more

Citibank creates special unit to offer bitcoin and cryptocurrency services

by rcanessa

Although no details were given yet, NFTs, stablecoins and CBDC would also be included.
Bank executives say there is increasing interest from customers

Citibank announced that it will launch a cryptocurrency and digital asset service for some of its clients. It will be called the Digital Assets Group and will operate under the Wealth Management Division.

This new service will include, in addition to the main cryptocurrencies, non-fungible tokens (NFT), stablecoins and central bank digital currencies (CBDC). The criteria for choosing the customers who can access this service have not yet been reported.

Investors ask court to declare that XRP is not a security

by rcanessa

Investors request amendment in SEC case against Ripple.
They say that US exchanges are set to suspend XRP trading, which is going to hurt them economically.

A group of investors in the cryptocurrency XRP filed a petition in the Rhode Island District Court, requesting a mandamus order or injunction against the acting president of the United States Securities and Exchange Commission (SEC), Eliad Roisman, to modify the lawsuit against Ripple Labs, INC.

This is what you can (or cannot) do with bitcoin and cryptocurrencies in PayPal

by rcanessa

PayPal users will not be able to withdraw their bitcoin funds to an external wallet.
Bitcoins cannot be sent to other Paypal accounts.

PayPal announced this Wednesday that its users will be able to buy, sell and pay with bitcoin and cryptocurrencies from its platform. However, some of the details about the service raise doubts about the handling of funds in bitcoin and the possibilities of use that users will have.

Almost 200,000 bitcoins have been withdrawn from major exchanges

by rcanessa

The BitMEX platform saw its reserves reduced by 49.55% in the penultimate quarter of the year. Data suggests that the number of users preferring non-custodial storage increased. Bitcoin reserves on exchanges such as Coinbase, OKEx, and BitMEX have dropped considerably in the penultimate quarter of the year. This is recorded by the BitUniverse platform, which calculates a decrease of more … Read more

SEC is willing to promote tokenized shares on blockchain, says its chairman

by rcanessa

Clayton views tokenization as positive as long as it is registered with the SEC. Blockchains will be “the internet of finance,” according to Brian Brooks, Comptroller of the Currency The Securities and Exchange Commission of the United States (SEC) would have the disposition to promote the tokenization of shares through blockchains. This was stated by the president of the SEC … Read more

These are the prices that bitcoin needs to reach Visa, Amazon, or Apple

by rcanessa

Bitcoin compared with Facebook, VISA and Apple

Bitcoin could be measured against the greats names of the corporate world, given its growth potential.
To catch up with Apple, Bitcoin would have to grow 10 times. A 60% boom would bring it closer to JPMorgan.

While Bitcoin is still on the scale of a midsize corporation, with a market capitalization of about $ 200 billion, various studies rate it as undervalued, and with enormous potential to grow as a safe haven asset. In the various growth scenarios, Bitcoin can challenge giants like Visa, Facebook and Apple in market value.

In the study on Bitcoin as an investment, published on Monday, September 21, Ark Invest analyzed several strengths of bitcoin, including its conditions as a store of value asset or its anti-confiscatory potential. By analyzing the scenarios of maximum development of these strengths, Ark Invest concluded that the capitalization of Bitcoin could reach between USD 3 trillion and USD 5 trillion in the next decade.

China’s digital yuan to be regulated as M0 money

by rcanessa

Once the new currency is issued, it will be classified as M0 (cash issued by the central bank).
Everything indicates that the government refines details, but there is no official launch date yet.

The digital yuan will meet all the requirements to be accepted as legal money and will have all the functions of China’s fiat currency. It will also be regulated like cash. This was pointed out by the vice president of the Central Bank of China (PBoC), Fan Yifei, in a recent publication.

According to the vice president’s opinion article, published on September 14 in the local media “China Financial News,” China’s new central bank digital currency (CBDC) will circulate as M0 (money issued by central banks). This fact means that it will be part of the supply of paper notes and coins of the Asian country, and as such it will be totally controlled by the central bank.

+ More