Author: admin-crypto

Stripe Exploring Blockchain, Builds Team for Crypto Payments By Your Trading Edge Financial technology firm Stripe, a leading payments solutions provider in the U.S. as well as other regions, is now re-exploring blockchain integration with its services. The firm, which began its foray into crypto with Bitcoin back in 2014, later withdrew support for the alpha cryptocurrency, citing slow transaction times and soaring transaction fees. Stripe later added that it was concerned that a viable crypto payments integration was not on the horizon, because, at the time, the development of the Lightning Network was still ongoing. Stripe also cited the potential of…

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CFTC Fines Tether and Bitfinex $42.5M for ‘Untrue or Misleading’ Claims By CNBS News The Commodity Futures Trading Commission (CFTC) fined Bitfinex and Tether more than $42 million on allegations the USDT stablecoin was not fully backed at all times and that Bitfinex violated a previous agency order. The federal commodities regulator settled charges with the sibling crypto companies on Friday, barring both firms from “any further violations of the Commodity Exchange Act (CEA) and CFTC regulations.” According to a CFTC press release, Tether’s stablecoin was fully backed by reserves for only one-quarter of the time over a 26-month period between…

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Australian Pension Fund Considers Crypto Investment By CNBS News One of Australia’s largest pension funds has said it may make small investments in the cryptocurrency sector, in another sign that retirement vehicles are taking the digital asset space seriously despite the regulatory risks. Queensland Investment Corporation (QIC), which manages A$92.4bn ($69bn) of assets and is Australia’s fifth biggest pension fund, told the Financial Times that it is open to investing in cryptocurrencies in the future. A number of family offices and other private investors in the country have already invested in digital assets, but Australia’s so-called “supers”, which pool together…

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US Emerges As Biggest Bitcoin Miner After China Crypto Crackdown By London Times China was the biggest miner of Bitcoin until authorities there effectively banned the practice. Now, the US has claimed China’s Bitcoin mining crown. The U.S. has become the world’s epicenter for Bitcoin mining after a crackdown in China effectively eliminated the practice in the former cradle of the industry. At the end of August, America accounted for 35.4% of the global hash rate, a measure of computing power used to extract the digital currency, according to a Cambridge Centre for Alternative Finance study published on Wednesday. That’s more than…

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Bitcoin Records 3x Higher Average Trading Volume in October Than Apple, Amazon, Microsoft By CryptoSlashy After experiencing increased volatility in late September, Bitcoin (BTC) appears to be regaining its momentum towards another all-time high. The recent surge in the asset’s value reflects the trading volume that is significantly higher than selected traditional finance stocks. Data compiled by cryptocurrency trading simulator CryptoParrot shows that between October 1 and October 11, Bitcoin recorded an average daily trading volume of $36.7 billion, dwarfing stocks from the traditional finance sector. During the period, electric vehicle manufacturer Tesla (TSLA)  had an average trading volume of $14.64 billion, at least two times…

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Top Facebook Digital Currency Engineers Depart To Join Andreessen Horowitz’s Crypto Fund By Salvador Rodriguez Riyaz Faizullabhoy and Nassim Eddequiouaq, two of Facebook’s leads on its digital currency project, left the company to join Andreessen Horowitz’s crypto team. The moves continue a wave of defections from Facebook’s digital currency unit. In June, Andreessen announced a new $2.2 billion cryptocurrency-focused fund. Two of Facebook’s top engineers on its blockchain and digital currency project left the company to join Andreessen Horowitz’s crypto team, the venture capital firm told CNBC on Monday. Riyaz Faizullabhoy and Nassim Eddequiouaq spent the past two years working…

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Bitcoin Is Rallying Above $57,000 and 5 Other Things That Happened in Crypto This Past Week By London Times The price of bitcoin, the largest cryptocurrency by market value, surpassed $57,000 on Monday morning, extending its two-week rally. It’s up over 30% in October, currently trading at around $57,442. The rally is likely due to a couple of reasons, including hope that a bitcoin futures ETF could be approved by the Securities and Exchange Commission soon and excitement after Federal Reserve chair Jerome Powell clarified that he has no intention to ban bitcoin in the U.S., which seemed to “embolden”…

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Pro-Crypto Senator Lummis Discloses Bitcoin Purchase Worth Up to $100K By London Times Sen. Cynthia Lummis (R-Wyo.) disclosed purchase of bitcoin worth $50,001-$100,000, according to a Periodic Transaction Report filed Thursday. Lummis, who has been buying bitcoin since 2013, executed her latest purchase on Aug. 16 via the brokerage platform River Financial. CNBC first reported the news. Under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) senators and senior staff with earnings above $119,554 are required to disclose certain financial transactions. Part of the requirements means they must report any purchase, sale, or exchange of any stock,…

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Bitcoin Bounces Back Above $55K, but Trader Has His Eye on Two Other Cryptocurrencies By Keris Lahiff Bitcoin just made a major comeback. The cryptocurrency rallied on Wednesday, topping $55,000 and hitting its highest level since mid-May. Regulatory fears have eased this week after both Treasury Secretary Janet Yellen and SEC chair Gary Gensler said they have no plans to impose restrictions on cryptocurrency trading. Bill Baruch, president of Blue Line Capital, had a plan over the summer to beef up his position in bitcoin as its price plummeted – re-entering at $32,000 and adding to it if it fell…

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Crypto’s Future Could Soon Look a Lot Like the U.S. Dollar By London Times The dollar is entering the crypto age, and the U.S. government is poised to give its clearest signal yet on how that will happen. The guidance will come through a trio of pending reports related to public and private efforts to digitize the world’s global reserve currency. First, the Federal Reserve Board will release a paper as soon as this month on the U.S. payments system that’s expected to provide direction on whether the country should issue a so-called central bank digital currency. Soon after, the…

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