The International Monetary Fund has said El Salvador’s recent decision to make Bitcoin legal tender in the country may raise legal and financial concerns. In a Thursday press briefing from the International Monetary Fund, or IMF, spokesperson Gerry Rice said the group was already in discussions with lawmakers in El Salvador over a loan to
Blockchain
Bloomberg Intelligence senior commodity strategist Mike McGlone believes that Bitcoin (BTC) is more likely to rally to $40,000 than slump to $20,000. This bullish outlook seems to be shared by traders as Bitcoin initiated a sharp recovery today. On-chain data also suggests that long-term holders (LTH) have again started accumulating Bitcoin after booking profits during
The anonymity of Bitcoin (BTC) and other cryptocurrencies is a hot topic in the crypto space. While the transactions are open to track in a public blockchain, it is challenging to link a transaction with a real-life person in many use cases. As an identity-centric platform, Concordium takes a different direction by offering complete transparency.
Switzerland-based 21Shares, formerly known as Amun, has said it will make its Bitcoin (BTC) exchange-traded product available to traders in the United Kingdom through the Aquis Exchange. According to an announcement from 21Shares, its Bitcoin exchange-traded product (ETP) will be available to professional investors on the Aquis Exchange this summer. U.K.-based firm GHCO will be acting
The era of unintelligible contracts written in legalese by lawyers in $2,000 suits with degrees from Ivy League schools is over. The contracts of the next century will be hybrid smart contracts, written in code by programmers wearing $20 hoodies and living in their NYC-shared apartment. What is a hybrid smart contract? Smart contracts are
Last week’s tumultuous 30% crypto market dip and subsequent quick recovery left many wondering what comes next. Crypto circles aside, the conversation around the importance of building solid, broadly usable applications is louder than ever. Crypto will cease to be perceived as a casino on the edges of the internet when participation outweighs speculation. An
Challenges stimulate progress. Technology, pretty much like life itself, cannot be static. Only dynamics stimulate positive changes. Amid the collapse of the cryptocurrency market in mid-May, many retail and institutional investors began to lose faith in the bright future of cryptocurrencies in general and Bitcoin (BTC) in particular. Corporations and institutions, whales, and early adopters
A trade is profitable only if both the purchase and the sale are done at the right time. Many times, traders sell their positions too early and leave profits on the table or they keep holding on to the trade even after the trend changes. This leads to profits evaporating, and many times the trade
Bitcoin’s anonymous creator Satoshi Nakamoto is set to be depicted in a life-size bronze statue in Budapest, the capital city of Hungary. According to local news outlet Hungary Today, sculptors, Réka Gergely and Tamás Gilly are designing the statue, and have unveiled initial plans depicting a figure with a featureless face wearing a Bitcoin hoodie.
Institutional demand for Ethereum continues to surge, with Ether products now representing more than one quarter of the assets under management (AUM) of crypto investment products. According to CoinShares’ June 1 Digital Asset Fund Flows Weekly report, the past week saw significant institutional inflows of $74 million as investors sought to capitalize on the fall
In an increasingly crowded marketplace for marketplaces, Binance is going on the offensive with a business development push aimed at bringing “100 Creators” to their forthcoming NFT platform. In a press release today, Binance announced a drop from Misha Most, a noted street artist who currently holds the world record for the largest wall mural.
The financial industry has seen a rise in demand for exposure to digital — and crypto — assets in all asset classes. This has led to interest, demand and investment from institutional finance, ranging from digital asset custody to digital asset trading desks, regulatory and compliance frameworks, and audit and risk models. It is fair
For the purposes of historical comparison, it’s also worth noting that the pattern of the dominance chart currently looks much like it did during the earlier part of 2017. As the markets have gone into meltdown since May 12, Bitcoin (BTC) dominance has fluctuated dramatically, bucking 2021’s prevailing trend. Before the sell-off started in earnest,
Haruhiko Kuroda, governor of the Bank of Japan has joined the roll call of central bankers taking aim at Bitcoin (BTC) amid the current volatility. According to a report by Bloomberg on Friday, Kuroda argued against the value proposition of the largest crypto by market capitalization, stating: “Most of the trading is speculative and volatility
A couple investing in crypto have claimed that coins gained by mining or staking are not taxable until sold, in a complaint filed to federal court. The Tennessee couple are seeking a refund from the Internal Revenue Service (IRS) and filed a complaint with the U.S. District Court for the Middle District of Tennessee on
Zurich-based Dfinity Foundation has announced a fund worth CHF 200 million, or around $223 million, to support development on the Internet Computer — a blockchain-based decentralized network with wildly ambitious plans to one day “replace” much of the internet. The non-profit scientific research organization announced “The Developer Ecosystem Program” on May 26, and is now
Bitcoin may have lost 35% since its all-time highs of $64,500, but its current price is actually “logical.” That’s according to veteran analyst John Bollinger, creator of the Bollinger bands trading indicator. Bollinger: Current price action “can tell a lot” In a tweet on May 18, Bollinger, who is well known as a source of
Just this week, Ether (ETH) breached the $4,000 mark while Bitcoin (BTC), the world’s most popular cryptocurrency, recently hit another all-time high at over $63,000. Meanwhile, Dogecoin (DOGE) continues its roller-coaster ride after “Dogefather” Elon Musk’s appearance on Saturday Night Live and news about digital artwork fetching eye-watering prices in the form of nonfungible tokens