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White House Backs Strict Crypto Regulation Ahead of Key Vote
President Biden’s administration has supported a controversial crypto tax provision as a way to pay for the $1tn infrastructure package. As the final vote in the US Senate is expected on Tuesday, crypto circles mobilize against it. Read more to learn the details.
Goldman Sachs Files with SEC for a “DeFi and Blockchain ETF”
Major US investment bank Goldman Sachs is looking for ways to meet rising demand for crypto. In its latest filing with the SEC, Goldman asks for approval to launch an exchange-traded fund comprised of companies focused on decentralized finance and blockchain technology. Read more here.
PayPal’s New Super App to Offer Enhanced Crypto Services
PayPal, the payment processor boasting more than 400 million active accounts, will soon offer a new feature called Super App. The service will aim to offer more functionalities related to cryptocurrency trading. Read more to see what to expect from the service once it’s launched over the next months.
Tesla Reports $23 Million Impairment Charge from Bitcoin Holdings
EV maker Tesla last week published its earnings report for the second quarter. In it, the company had noted it had taken a $23m impairment charge on Tesla’s bitcoin holdings. Read more to learn how the company performed during the quarter and when it could restart accepting bitcoin as payment for its cars.
Goldman Sachs Says Family Offices Shift to Bitcoin and Cryptos
Investment banking giant Goldman Sachs released a report which found nearly 50% of the family offices surveyed want to dive into the cryptocurrency market. This confirms institutional interest in digital assets is on the rise. Read more to see what the numbers show.
UBS CEO Ralph Hamers Says the Bank’s Clients Have “FOMO”
UBS CEO Ralph Hamers shared his view on the crypto market. He said digital tokens are still an “untested” asset class but his clients are eager to get involved and even experience “FOMO”, or fear of missing out. Read more to learn what the Dutch CEO said.
JPMorgan Opens Five Cryptocurrency Funds to Clients
JPMorgan, the top US investment bank by assets, has allowed all its clients to trade and invest in five digital asset funds. The about-face move marks a large step by the investment banking sector toward embracing the nascent cryptocurrency market. Read further to know the details.
Amazon Looking for Crypto Expert, Signaling Interest in Bitcoin
Amazon, the largest ecommerce website and a cloud-computing giant, has published a job posting, saying the company is seeking a Digital Currency and Blockchain expert. The move signals a growing interest in cryptocurrency such as bitcoin. Read more to learn what’s in the making for Amazon.
Treasury Secretary Janet Yellen to Act on Stablecoin Regulation
The Secretary of Treasury, Janet Yellen, held a meeting with top financial regulators, including Jerome Powell and Gary Gensler. The discussion was focused on regulating stablecoins, a fast-growing subset of cryptocurrencies. Read more to learn the details.
Elon Musk Says He, SpaceX and Tesla Hold Bitcoin
Elon Musk joined Jack Dorsey and Cathie Wood at the online panel “The B Word”. The three expressed strong belief the digital currency has a bright future, while Musk revealed SpaceX has invested in Bitcoin. Read more to learn what the Tesla and SpaceX chief said.
Jack Dorsey’s Square Bets on Bitcoin to Launch DeFi Platform
Mobile payments company Square is setting up to build a new business unit dedicated to an innovative way to deal with finances called DeFi, or decentralized finance. The project will be built on Bitcoin. Read more to learn what’s in the making.
Top Three Biggest Challenges for Bitcoin in the Second Half of 2021
Key Takeaways: After a turbulent first half, Bitcoin has to deal with looming challenges ahead A solid support system is committed to finding ways to overcome impending risks Bitcoin had a wild and turbulent first half of 2021. It started solidly, reaching an all-time high of nearly $65,000 in April. However now, Bitcoin has dropped […]
ECB Says Countries Should Consider Launching Digital Currencies
The European Central Bank warned governments that if they don’t consider issuing their own digital versions of fiat currencies, they risk hurting the financial system. Read more to learn how the ECB views the future of digital currencies.
World Bank Won’t Take Part in El Salvador’s Bitcoin Project
The World Bank was approached by El Salvador’s government with the request to provide technical assistance over the implementation of Bitcoin as an official currency. Read on to learn how the World Bank views the innovative move by the small Central American country.
MicroStrategy to Raise $500mn to Purchase More Bitcoin
Key Takeaways: MicroStrategy to raise $500mn to invest in Bitcoin in an announcement by Michael Saylor The company has had a bumpy ride this quarter as Bitcoin’s price is in decline MicroStrategy To Raise $400mn to Purchase Over 10,000 Bitcoins MicroStrategy, the software provider that holds over 92,000 Bitcoins, which represent about 80% […]
JP Morgan Says Big Investors are Holding Back due to Volatility
JPMorgan, a top US investment bank, published a report where it says that investors refrain from buying the Bitcoin dip as the spike in volatility remains a risk factor. Read more to find out what the bank’s outlook is for the cryptocurrency market.
Musk Targeted by Anonymous for Destroying Crypto Holders’ Lives
Elon Musk accused by Anonymous of wanting to centralize Bitcoin mining In a video message, the hacking group vows to expose Mr. Musk’s real intentions Tesla and SpaceX CEO Elon Musk has been targeted by the Anonymous group. Their attack was over his cryptocurrency posting on Twitter that has resulted in the loss of funds […]
Hedge Fund Manager Ray Dalio Confirms Bitcoin Investment
Key Takeaways: Ray Dalio says he owns Bitcoin and prefers the digital asset instead of Treasury bonds He considers Bitcoin’s success its greatest risk as the coin progresses into mainstream finance Despite Risks, Ray Dalio Owns Bitcoin Ray Dalio, the founder of the largest hedge fund in the world, Bridgewater, said last week he owns […]
UBS Planning to Offer Crypto Investments to Wealthy Clients
Key Takeaways: UBS explores options to offer crypto products to its wealthy clients UBS CEO Ralph Hamers has his focus on digitalizing the bank’s operations Interest In Digital Asset Technology By Bank Switzerland’s largest bank, UBS, and the world’s biggest wealth manager, is exploring ways to offer its wealthy clients access to cryptocurrency assets. The […]
US Treasury and SEC Gear Up to Step into the Crypto Space
Key Takeaways: US Treasury Department to require transactions over $10,000 in crypto to be reported SEC Chairman Gary Gensler urges for crypto regulations and investor protection More Than $10,000 In Crypto Need To Be Reported, Says US Treasury The Department of Treasury is ramping up efforts to step into the realm of cryptocurrencies. Last […]
Square Will Not Be Buying New Bitcoins as Carbon Concerns Loom
Key Takeaways: Square’s CFO says bitcoin’s carbon footprint needs to be addressed The fintech company calls for innovation in the way cryptocurrencies are mined Square Voices Environmental Concerns The digital payments company, Square, had a big announcement last week. It will not be purchasing more Bitcoin at least until cleaner energy sources are found. Square’s […]
JP Morgan CEO Dislikes Bitcoin but the Bank Approves It
Key Takeaways: Jamie Dimon says Bitcoin is not a part of his interests, but clients demand it JP Morgan is yet to offer Bitcoin-related investment products Jamie Dimon Reiterates His Stance From 2017 Jamie Dimon, the CEO of the largest bank in the US, JPMorgan, remains the notable skeptic he was when he said Bitcoin […]
Goldman Sachs Now Offers Brand New Bitcoin Derivatives Trading
Key Takeaways: Goldman Sachs has officially executed its first trades in bitcoin The firm will continue to work toward broadening their crypto involvement Goldman Sachs Moves On to Crypto Trading Goldman Sachs, a dominant US investment bank, is looking to seize a larger portion of the hot and rapidly growing cryptocurrency market that now boasts […]
MicroStrategy Buys More Bitcoin Despite Musk’s Criticism
MicroStrategy Buys More Bitcoin Despite Musk’s Criticism Key Takeaways: Michael Saylor adds 271 bitcoins for $15 million to MicroStrategy’s BTC holdings The move comes the same day Tesla announces it suspends Bitcoin payments for its cars 271 Additional Bitcoins Bought By MicroStrategy For over a year, MicroStrategy has been actively purchasing Bitcoin […]
Andreessen Horowitz to Launch a $1bn VC Fund Focused on Crypto
Key Takeaways: The VC firm plans to raise up to $1bn for its third cryptocurrency fund Andreessen Horowitz already has two crypto-centered investment vehicles Another Crypto Vehicle for Andreessen Horowitz The venture capital firm Andreessen Horowitz is preparing to launch a cryptocurrency VC fund with an initial investment of $1bn. The fund will be […]
Tesla and Its Cryptic Approach to Bitcoin
Tesla and Its Cryptic Approach to Bitcoin Key Takeaways: Tesla reveals it made a profit of $101mn in Bitcoin sale The company held Bitcoin worth $2.48bn on March 31, 2021 Tesla’s Q1 Report and Bitcoin’s role in its profit Tesla recently revealed its earnings report for the first quarter. Tesla’s earnings reports have a […]
Goldman Sachs CEO David Solomon Remains Focused on Bitcoin
Goldman Sachs CEO David Solomon Remains Focused on Bitcoin Key Takeaways: David Solomon keeps a close eye on Bitcoin and cryptocurrencies The CEO shares his thoughts on Bitcoin in an earnings call David Solomon keeps track of Bitcoin and other cryptos Goldman Sachs remains focused on its goal to track Bitcoin’s progress and the […]
TIME Magazine – Adds BTC to Balance Sheet, Accepts BTC as Payment
TIME Magazine – Adds BTC to Balance Sheet, Accepts BTC as Payment Key Takeaways: TIME Magazine to start video series on crypto The publisher announced it accepts bitcoin as payment TIME Magazine to start video series on crypto Bitcoin’s mainstream adoption continues to cover a growing number of traditional companies. Increasing demand for the […]