Crypto Regulations Remain Hot Topic of Discussion at Latest G7 Meeting
The G7 officials discussed the need to regulate crypto assets and prevent its use for any malicious or illicit activities. There’s strong support across the top economies to regulate digital assets.On Monday, December 7, G7 officials met for discussions on the latest economic outlook...
MicroStrategy shares drop 8% after announcement of $400m debt raise to buy Bitcoin
MicroStrategy has quickly become one of Bitcoin’s biggest supporters in the world of traditional firms and institutions. The business services and analytics company, based in the Eastern U.S., shocked the world when it invested $250 million from its balance sheet into BTC.This took many...
Operator of BTC-e Alexander Vinnik Faces Five-Year Prison for Money Laundering
On Monday, the French prosecutors announced a five-year-sentence for Russian national Alexander Vinnik for his alleged involvement in creating software to launder money. He faces multiple charges of helping cybercriminals and ransomware gangs.It is game over for Alexander Vinnik, the operator of the now-defunct...
Spain’s BBVA Bank to Launch Crypto Services
BBVA has been reportedly working on making its crypto service debut for months as it has integrated a solution for providing cryptocurrency custody infrastructure called SILO in a move similar to Russia’s Gazprombank.
Spain’s Banco Bilbao Vizcaya Argentaria SA (NYSE: BBVA), the country’s second-largest bank...
Bitcoin funds see “record” $429m inflows in last week
Bitcoin funds focused on the digital asset and other large-cap cryptocurrencies are seeing record inflows this year amidst rising inflation concerns and a bleak macroeconomic outlook.As per a report by international news outlet Reuters, institutional investors purchased over $429 million worth of cryptocurrencies via...
China to Test Tap Payments for Its CBDC This Friday
The decision to conduct the trial this weekend is strategic as it coincides with Double 12 (December 12th), a day when retailers offer steep discounts.China will test tap payments for its CBDC, digital yuan, this Friday, December 11. The new feature allows users to...
Professor: Ethereum could “eat” Wall Street in 5 to 10 years for 3 reasons
Aaron Wright, a professor at Cardozo School of Law, believes Ethereum could “eat” Wall Street in the next 10 years.The professor outlined three key reasons why Ethereum could compete against the traditional financial sector. They are decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and...
Circle CEO Says Biden Administration Will ‘Ultimately’ Support Crypto
Circle CEO Jeremy Allaire said that the creation of a central bank digital currency (CBDC) would not crowd out stablecoin.
Circle CEO Jeremy Allaire is optimistic that the incoming Biden administration will support the crypto industry in the US. On the 7th of December, Allaire...
Financial analyst thinks Bitcoin could hit $100,000 in the next nine months
Bitcoin has undergone an extremely strong rally since the March low of $3,500. At the recent all-time highs of $19,950, the coin was up around 470 percent from its March lows. It is the best-performing macro asset since mid-March, unless you count Ethereum.Still, analysts...
Ripple Sells $15 Million Worth of Its Stock Holding in MoneyGram
Ripple has offloaded 2,264,113 MGI shares i.e. 33% of its stake as per the latest filing with the US SEC. The blockchain startup hasn’t given any specific reason for this decision.San Francisco-based blockchain startup Ripple has liquidated a significant part of its stock holding...
