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Bitcoin’s price has surged, with $12,000 in sight as markets shift their focus away from the Federal Reserve’s potential rate cut in July. The cryptocurrency market is anticipating a breakout above the $12,000 level, with analysts keeping a close eye on how the Federal Reserve’s upcoming decisions will impact Bitcoin’s trajectory. As Bitcoin continues its [...]
The convergence of ZK-proofs and decentralized identity systems could create more compliant privacy-preserving protocols, without sacrificing user privacy.
Cango, a leading Chinese fintech company, has recently made a bold move by selling its traditional automobile financing business in China. According to a new report, the company is now focusing its efforts on venturing into the world of Bitcoin mining. This strategic shift comes at a time when Cango is looking to diversify its [...]
The post Cango Ditches Legacy China Business to Focus on Bitcoin Mining: Latest Report appeared first on Crypto Breaking News.
The forecast for Bitcoin’s price at the end of the year has been adjusted by market analyst Lyn Alden, who factors in liquidity concerns and the impact of tariffs on the cryptocurrency market. Alden had previously predicted a bullish projection for Bitcoin’s price by the end of the year, but due to changing market conditions, [...]
The post Lyn Alden revises Bitcoin outlook following trade tensions, focuses on market liquidity appeared first on Crypto Breaking News.
OpenAI, the renowned artificial intelligence research lab, reportedly pursued a deal with Anysphere before shifting their focus to wind surfing. This unexpected shift in their priorities has sparked curiosity among industry experts and AI enthusiasts. It is not uncommon for organizations like OpenAI to explore various partnerships and collaborations to advance their research and technology. [...]
The post OpenAI’s Pursuit of Anysphere Partnership before Shifting Focus to WindSurf appeared first on Crypto Breaking News.
Bitcoin seems to have taken a back seat in recent news as discussion shifts towards the trade and immigration policies proposed by US President Trump and El Salvadoran President Bukele. While Bitcoin continues to play a significant role in the financial world, with its value constantly fluctuating and garnering attention from investors and enthusiasts alike, [...]
The post Trump and Bukele Shift Focus to Trade and Immigration, Leaving Bitcoin in the Background appeared first on Crypto Breaking News.
Pakistan has put forth a new proposal for a crypto regulatory framework that focuses on compliance, according to a recent report. The proposal aims to address the growing concerns surrounding the cryptocurrency market in the country. This regulatory framework emphasizes the importance of adhering to regulations to ensure a safe and secure environment for investors [...]
The post Breaking News: Pakistan Introduces Compliance-Focused Crypto Regulation in New Proposal appeared first on Crypto Breaking News.
The recent cryptocurrency summit hosted by former President Donald Trump stirred up discussions about the taxation of Bitcoin and other digital assets. The event aimed to address the growing influence of cryptocurrencies in the financial sector and explore potential regulatory measures. Participants of the summit included industry experts, government officials, and blockchain enthusiasts, all coming [...]
The post White House Official Expects Trump’s Crypto Summit to Focus on Taxes appeared first on Crypto Breaking News.
Bakkt, the renowned cryptocurrency platform, has recently appointed a new Co-CEO as part of its strategy to shift its focus towards digital assets. The decision to name a Co-CEO comes as Bakkt aims to bolster its position in the crypto market and adapt to the evolving landscape of the industry. The newly appointed Co-CEO, whose [...]
The post Bakkt appoints new co-CEO as focus shifts to cryptocurrency offerings appeared first on Crypto Breaking News.
Tax authorities are ramping up efforts to crack down on cryptocurrency activities. The increasing popularity of digital currencies has prompted tax agencies to strengthen their monitoring and enforcement mechanisms to ensure compliance. With the rise of crypto trading and investments, governments around the world are stepping up their scrutiny of individuals and businesses involved in [...]
The post Tax Authorities Intensify Focus on Cryptocurrency as Bitcoin Approaches $1 Million appeared first on Crypto Breaking News.
FLOKI price surged by 10% on Sunday before slightly pulling back before the end of the day. The price however started Monday with a 2% surge. FLOKI is trending as traders and investors bet on it amid a China-focused push for its Valhalla metaverse game. Along with the price, the FLOKI’s trading volume also jumped …
<p>The post Focus shifts to Floki amid China-focused push for its Valhalla metaverse game first appeared on CCNC | Cryptocurrency Newscast.</p>
Roughly three months ago, 74 AI-driven digital currencies boasted a market value exceeding $4 billion. However, since that time, the AI-centric crypto market has experienced a loss of more than $1 billion in value. The Decline in AI-Driven Cryptocurrencies: $1 Billion Wiped Out From Market At the start of the year, products incorporating artificial intelligence [...]
The post AI-Centric Crypto Market Loses Over $1 Billion in Value in 90 Days appeared first on Crypto Breaking News.
On May 24, Binance CEO Changpeng Zhao, also known as CZ, shared through Twitter that “Chinese speaking communities are buzzing” following a news broadcast by state-operated media network China Central Television (CCTV) regarding Hong Kong’s latest cryptocurrency-focused regulatory policy. CCTV’s Coverage of Hong Kong’s Crypto Regulations Sparks Excitement, Says Binance CEO; Nanxin University Launches Metaverse
The post Binance CEO Claims Chinese Communities Are ‘Buzzing’ After CCTV Airs Crypto Segment appeared first on BTC Ethereum Crypto Currency Blog.
Renowned crypto entrepreneur Balaji Srinivasan has voiced concerns that tech giants can access and retrieve private keys from devices and apps under their control.
Filecoin (FIL/USD) price drifted downwards despite the upcoming launch of its virtual machine next week. FIL slumped to a low of $5.85, which is close to its January lows. It has pulled back by more than 38% from the highest level this year. Filecoin Virtual Machine (FVM) launch The most important cryptocurrency news is the ...
<p>The post Filecoin price prediction: Focus shifts to March 14 first appeared on CCNC.</p>
CryptoUnity is working on a beginner-focused crypto exchange that has a user-friendly interface and comprehensive educational resources to bridge the gap for beginners in the cryptocurrency space. The project aims at simplifying the crypto involvement process which can be otherwise overwhelming and complicated for those just starting out. The startup’s mission is to help beginners ...
<p>The post CryptoUnity has partnered with Lenovo for a beginner-focused crypto exchange | Invezz first appeared on CCNC.</p>
2022 was a chaotic year in crypto, with the collapse of FTX stealing the headlines. But there were also other developments beyond collapsing prices and fallen CEOs. We interviewed the Head of Strategy and Innovation at Celo, Nikhil Raghuveera, on one such development. Celo is a top 100 cryptocurrency with its unique factor being that ... Read more
<p>The post Interview with Celo, the carbon-negative cryptocurrency focused on smartphones | Invezz first appeared on CCNC.</p>
Hubble Protocol, the home of Solana’s premier stablecoin USDH, is laser-focused on Latin America. Hubble’s co-founder Marius Ciubotariu believes that Latin America provides a new growth base for stablecoins.
Stablecoins adoption in Latin America is already fast outpacing the rest of the world.
Why is Hubble Protocol focused on Latin America?It is a fact that many Latin American countries rely on remittances from abroad. According to IDB, in 2021 Latin America and the Caribbean received $127.6 billion in remittances, constituting a 26% annual growth and the highest in the past 20 years.
Now, besides the costs of the remittances being quite high, many in Latin America do not have access to banks. The World Bank estimates that more than 60% of Latin American adults do not have access to credit, checks and other banking tools leaving them vulnerable to sky-high exchange rates and fees for OTC transfers.
This creates a perfect opportunity for cryptocurrencies and decentralized stablecoins which address many of the remittance challenges.
Additionally, inflation is currently rampant in Latin America. According to Weforum, Latin American countries are facing the highest rates of inflation in 25 years. In Argentina, for example, the inflation rate has increased from 71% in July to 78.5% in August. Inflation is expected to worsen in 2023.
Venezuela, another Latin American country, is experiencing hyperinflation that is significantly elevated compared to its neighbouring countries.
Outlining his case, Marius said:
“Cryptocurrency in Latin America is alive and well. In fact, the region is poised to be the next biggest growth market for stablecoins – bigger than anything we have seen in the US to date. Latin America is currently facing unprecedented economic challenges, with record-breaking inflation posing an existential threat to many of its citizens. Many are reliant on remittances from abroad; however, these transfers attract high fees, particularly for the huge swathes of the region’s populace that remain unbanked. This situation is creating a perfect storm for decentralized stablecoins, which directly address many of these challenges and are being rapidly adopted in Latin America.”
Increased crypto transactions in Latin AmericaAccording to Mastercard’s New Payments Index 2022, 51% of consumers in South America used crypto assets to transact. This compares to a relatively lower rate of crypto adoption in developed countries.
According to Pew Research, only about 16% of Americans invest in, trade and use cryptocurrencies. A survey conducted by cryptocurrency exchange Gemini shows similar numbers in Australia and Europe.
With the widespread adoption of cryptocurrencies in Latin America, stablecoins are finding solid ground in Latin America.
Contrary to their prices being determined entirely by users, stablecoins are pegged to low-volatility assets making stablecoins less volatile than other cryptocurrencies.
According to Marius Ciubotari, all the above constitute an exciting development that Hubble Protocol is excited about and is increasingly exploring on the ground in the region.
The post Hubble Protocol laser-focused on Latin America, the new stablecoins’ growth base appeared first on Invezz.
A new Web3-focused venture capital firm launched by Polygon (MATIC/USD) co-founder Sandeep Nailwal and Cere Network co-founder Kenzi Wang, has raised $50 million from investors, positioning itself for a crucial role in Web 3 development via investments that empower the next breakthrough projects.
The venture capital, dubbed Symbolic Capital, said on Thursday it had raised the $50 million VC with backing from among others, VC platforms, cryptocurrency exchanges and vendors, and leading auditing firms.
Web3-focused fundThe fund targets supporting founders within the Web3 ecosystem, particularly those across emerging markets unable to secure funding from traditional VCs. The firm’s founders see this as one way of bringing to the masses applications that advance the adoption of Web3.
Specifically, the fund will invest in Web2 to Web3 applications projects seeking to solve real-world use cases powered by Web3. Other key areas will be in interoperability, zero knowledge (zk proofs) applications, NFT consumerisation (use beyond gaming and collectibles), the Metaverse and the creator economy.
Symbolic Capital has already made a few notable investments, according to details on its website. The firm’s portfolio currently counts disruptive blockchain technologies such as Binance-backed Blinkmoon, and play-to-earn game Planet Mojo.
Others are YGG Sea, crypto asset management solution Arcana and metaverse project Space Crypto.
The post Polygon founder raises $50 million for web3-focused fund appeared first on Invezz.
MicroStrategy Inc (NASDAQ: MSTR) co-founder Michael Saylor is set to step down as the company’s Chief Executive Officer, taking up the role of Executive Chairman beginning 8 August 2022.
Saylor, a prominent Bitcoin (BTC) bull, said in a statement that the move will allow the company to focus on its software and business intelligence business.
But more importantly to him, stepping down from the CEO post also allows them to focus on the company’s Bitcoin strategy.
Saylor to focus on Bitcoin strategy and advocacyApart from taking on the role of an Executive Chairman, Saylor will remain Chairman of the Board of Directors and also head MicroStrategy’s Investments Committee. It is in this latter role that he will offer investment oversight for the firm’s Bitcoin strategy, Saylor noted in the Q2 earnings results call on Tuesday.
“My focus will be on our corporate strategy, our innovation efforts, our Bitcoin strategy and related Bitcoin advocacy and education initiatives, such as my work with the Bitcoin Mining Council. I will continue to act as an enthusiastic spokesperson for MicroStrategy and as our envoy to the Global Bitcoin community.”
In a press release, MicroStrategy said Saylor’s replacement as CEO will be Phong Le, the company’s President and former Chief Financial Officer (CFO) and Chief Operating Officer (COO). The firm added that Le has been with MicroStrategy since 2015 and his new role as CEO will see him take charge of corporate strategies, as well as manage the company’s business operations.
Largest corporate holder of BitcoinMicroStrategy first bought Bitcoin in August 2020, and is currently the largest corporate holder of BTC on its balance sheet with 129,699 bitcoins.
In its Q2 earnings report, the company said the “carrying value” of the total BTC holdings by 30 June 2022 was $1.988 billion, reflecting “cumulative impairment losses of $1.989 billion.” The figures relate to the total acquisition vis-à-vis the average carrying amount of roughly $15,326 per BTC.
MicroStrategy’s Bitcoin acquisition since 2020 had seen the firm spend $4 billion, with the average purchase price of 30,664 per BTC (including fees and expenses).
Even though Bitcoin’s decline over the past several months has critics and skeptics out, Saylor remains bullish and has pointed out that the flagship cryptocurrency has outperformed other assets in the time since his first bitcoin purchase.
Since @MicroStrategy adopted a #Bitcoin Strategy, its enterprise value is up +730% (+$5 billion) and $MSTR is up +123%. Performance of BTC is +94%, S&P 500 +23%, Nasdaq +13%, Gold -13%, Bonds -14%, Silver -29%. GOOG +54%, AAPL +43%, MSFT +34%, AMZN -14%, META -39%, NFLX -53%. pic.twitter.com/BWHPhbOg0d
— Michael Saylor?? (@saylor) August 3, 2022The post Saylor gives up CEO role to focus on MicroStrategy’s Bitcoin strategy appeared first on Invezz.
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