People’s Bank of China Endorses Cryptocurrencies As Good Investment Alternatives

China has endorsed Bitcoin and cryptocurrencies as good investment alternatives for the first time. The deputy governor of the People’s Bank of China Li Bo said that cryptocurrencies should play a major role as an investment tool or an alternative investment. According to an outlet that reports exclusive news about the Chinese crypto mining industry, … Read more

HSBC Bans MicroStrategy Shares Because of its Exposure to Bitcoin

British multinational investment bank and financial services holding company HSBC said it no longer facilitate products or securities that derive their value from virtual currency. With this new development, HSBC customers are banned from buying MicroStrategy stock because of its heavy investment in Bitcoin. HSBC customers are allowed to hold, sell and transfer MicroStrategy shares … Read more

Binance Lists Tesla as it Launches Stoke Token

World largest exchange company Binance has launched a zero-commission tradable stock token that allows its users to trade fractional stocks of companies on Thursday. According to the announcement on Binance’s website, stock tokens are denominated, settled, and collateralized in Binance dollar-denominated stablecoin, BUSD. The electric vehicle manufacturing company Tesla is the first Binance Stock Token to … Read more

Russian Firms Experience Spike in the Number of People Disclosing their Crypto Income

Reports suggest that more Russians are declaring their cryptocurrencies holdings due to increased attention from the Russian Federal Tax Service. According to a news report by Izvestia, consulting and legal firms like KPMG, PwC, FTL Advisers, Borenius, are experiencing a spike in the number of Russians willing to disclose  their crypto income and  pay taxes from crypto-related … Read more

CEO of Binance Changpeng Zhao Says Close to 100% of His Net Worth is in Cryptocurrency

The founder and CEO of Binance, the largest cryptocurrency exchange in the world Changpeng Zhao revealed that almost 100% of his net worth is invested in cryptocurrency. Changpeng, who is ranked one of the richest billionaires in the cryptocurrency industry said in an interview with Bloomberg that the percentage of his net worth in crypto is ‘close … Read more

California-Based NBA Franchise Sacramento Kings Might Start Paying Salaries in Bitcoin

An American professional basketball team Sacramento Kings is planning to start paying everyone in its organization in Bitcoin. The CEO of the NBA franchise Vivek Ranadivé reportedly said he will offer everyone in the organization, including the basketball players an option to be paid their salary in Bitcoin.  “I’m going to announce in the next few days … Read more

Coinbase To Establish Branch In India Amidst Uncertainties Over Cryptocurrency’s Future

The U.S-based leading cryptocurrency exchange Coinbase has announced that it is establishing a business presence in India even as speculations about the possible ban of cryptocurrency holding and trading in India increases. According to a statement by the exchange, the move will help Coinbase tap into the human resources of India that comprises of ‘world-class … Read more

Elon Musk Says Tesla Now Receives Bitcoin As Payment, Won’t Convert Bitcoin To Fiat

The CEO of electric car manufacturing company Telsa Elon Musk announced today on Twitter that its electric cars can now be purchased with Bitcoin. According to Elon Musk, his company will be using the hodl strategy where the Bitcoin used for purchase would not be converted to fiat currency but stored. “Bitcoin paid to Tesla will be … Read more

TIME To Start Receiving Cryptocurrencies, Auctions Three NFT Magazine Covers

TIME Magazine is making moves in the cryptocurrency domain and has also joined the bandwagon of the Non Fungible Token NFT craze. TIME Magazine announced that it will start receiving cryptocurrency as payment for subscription for the digital version of the magazine. The publication also published a job opening for a Chief Financial Officer who … Read more

Private Messenger App Signal Starts Receiving Donation In Bitcoin and Other Crypto

Private Messenger app Signal announced that it has started receiving Bitcoin and other cryptocurrency as donations. The donations will be made to Signal Technology foundation, the independent non-profit behind Signal, to support the company in its quest to develop open-source privacy technology for secure communication. In a tweet introducing the crypto donation option, Signal said it depends on support … Read more

Nigerian Vehicle Manufacturing Company Sets To Start Receiving Indigenous Crypto For Car Purchase

Nigerian Innoson Vehicle Manufacturing company has joined Telsa to start accepting crypto in exchange for its vehicles and other products. According to a report by a news site Nairametrics, the owner of Innoson Chief Innocent Chukwuma signed a partnership deal with Archbishop Sam Zuga, the CEO and founder of Zugacoin on Saturday to this effect. With … Read more

Binance Pay’s New Merchant Feature Will Solve Limitation of Traditional Finance – Changpeng Zhao

Crypto exchange giant Binance has introduced the Pay and merchant functions to its Binance Pay payment app following the launch of the beta version in February. According to a blog post by Binance, Binance Pay is a contactless, borderless and secure user-to-user cryptocurrency payment feature that allows users to pay, send and receive crypto payments … Read more

Survey Shows 25% of UK investors’ BTC Investment Would Have Crossed £1 Million If Made In 2020

A survey published by Parliament Street Think Tank showed that 25% of UK investors said their investment profits would have exceeded £1 million if they had invested all their assets in Bitcoin at the beginning of 2020. The research ‘The Great Cryptocurrency Report’ surveyed 2000 UK investors to know their positions on investments in cryptocurrency. … Read more

Crypto Enthusiasts Confused After Twitter Suspends Accounts of Crypto Influencers

Social media powerhouse Twitter has suspended the accounts of popular cryptocurrency influencers in the early hours of Wednesday. Bitcoin podcaster Peter McCormack posted the list of some of the suspended accounts he noticed. Some of the accounts he mentioned are that of Willy Woo, PlanB, TheCryptoDog, MMCrypto, TheMoon, Koroush AK, Wsbchairman and WSBChairman. It is not sure … Read more

Payment Giant PayPal to Acquire Israel-Based Cryptocurrency Security Company Curv

Payment giant PayPal has confirmed that it has agreed to acquire Israel-based cryptocurrency security company Curv to ‘accelerate and expand’ its plan to support cryptocurrency and digital assets. According to a statement, PayPal will complete the acquisition in the first half of 2021. Once the acquisition is completed, Curv team will join a new group … Read more

Bitcoin ETF Frenzy Continues as Purpose ETF Smashes $421 Million in Asset in Two Days

The buzz around Bitcoin Exchange-Traded Fund has been high lately, following the news about two newly registered Bitcoin ETFs – Purpose ETF and Evolve ETF in Canada last week. A bitcoin exchange-traded fund allows traders to buy and sell Bitcoin through traditional stock markets without going through cryptocurrency exchanges. Traders get paid in fiat currency … Read more

Chinese Tea Company Makes a Detour to Crypto Mining

A Chinese specialty teas and baked goods retailer Urban Tea has announced its business expansion into blockchain and cryptocurrency mining. The Nasdaq-listed publicly traded firm based in Hunan, China, appointed a Chief Operating Officer Fengdan Zhou and an Independent Director Dr Yunfei Song to ‘lead and support the Company’s critical strategic expansion in blockchain and … Read more

German Cannabis Company Hedges with Bitcoin, Expresses Concerns About Euro and USD Devaluation

German cannabis company SynBiotic SE has announced that it will be the first publicly-traded company in Germany to shift some of its liquid cash into bitcoin. In a statement, SynBiotic SE said that it has ‘legitimate concern about a massive devaluation of fiat money’ – euro and dollars, caused by an excessive increase in the … Read more

MicroStrategy Announces Plan to Invest Another $600 Million in Bitcoin as Bitcoin Breaks the $50k Ceiling

Business Intelligent company MicroStrategy has announced that it intends to sell $600 million worth of its convertible senior notes and then use the proceeds to acquire more Bitcoin. According to a statement on the company’s website, the notes will be offered and sold in a private offering to qualified institutional buyers, after which the company … Read more

SBI to Set Up Crypto Joint Venture with Financial Firms, Plans to Become Top-Earner in Crypto Market

The CEO of financial service company SBI Holdings Yoshitaka Kitao has revealed that the firm is aiming at setting up a cryptocurrency joint venture with foreign financial firms. In an interview with Reuters, Yoshitaka said that SBI has already set the ball rolling in establishing the joint venture as it is in a discussion phase … Read more

Jack Dorsey & Jay-Z Set Up ₿trust Endowment Fund, Invest 500 BTC to Fund Bitcoin Development in Africa & India

The CEO of Twitter Jack Dorsey and Hip-Hop star Jay-Z set out to support Bitcoin development projects in Africa and India. Jack Dorsey posted a tweet today that he and Jay-Z will set up an endowment fund called ₿trust, where 500 BTC worth $23.5 million at current prices will be given to Bitcoin project developers … Read more

Jim Crammer Strongly Advises Institutions to Own a Stake in Bitcoin, Says it’s ‘Almost Irresponsible’ not to do so

Mad Money show host on CNBC Jim Crammer strongly advised institutions to own a stake in Bitcoin. The TV personality said that the treasurers of companies should make it a matter of priority to add Bitcoin to their corporate balance sheets, adding that it is ‘almost irresponsible’ not to do so. “Every treasurer should be … Read more

Tesla’s $1.5 Billion Bitcoin Investment Having a Ripple Effect on the Bitcoin Market

World’s richest man and CEO of Tesla Elon Musk has brought his magical touch to the Bitcoin market after consistently driving DogeCoin to the trend table. News broke on Monday that Elon Musk’s electric car manufacturing company Tesla bought $1.5 billion worth of Bitcoin, and it will start receiving payment in Bitcoin for its products. Since … Read more

CME Launches Ethereum Futures, Experts Say the Move May Attract Institutional Investments

The Chicago Mercantile Exchange (CME) has launched Ethereum futures trading on its platform, three years after launching Bitcoin futures. Following the ether futures launch between Sunday and now, 77 Ethereum futures contracts have been traded already. Reacting to the number of Ethereum futures contracts initiated on the CME platform, Director of Product at crypto data … Read more

Twitter CEO Jack Dorsey Launches His Own Bitcoin Nodes

CEO of Twitter and Square Jack Dorsey revealed today that he is now running his own Bitcoin nodes. Jack Dorsey posted a picture that shows nodes in action and captioned it ‘running Bitcoin. Nodes are very important in the Bitcoin blockchain because they help in verifying bitcoin transactions and confirming legitimate bitcoin transactions from non-legitimate … Read more

Central Bank of Nigeria Issues Directive to Banks to Close Accounts of All Crypto Users ‘Immediately’

The Central Bank of Nigeria CBN has sent a directive to all banks, ordering them to shut down accounts of cryptocurrency users. The CBN made a reference to an earlier warning issued in January 2017 on the ‘risk associated with transactions in cryptocurrency.’ According to the letter signed by the Director of Banking Supervision Bello … Read more

South Africa’s Government is Allegedly Demanding Crypto Trading Information from Taxpayers

There are reports that the South African Revenue Service (SARS) is after taxpayers in South Africa to disclose their cryptocurrency trades and purchases. According to a report by a local news site MyBroadBand, taxpayers have received audit requests by SARS asking for the purpose for the purchase of cryptocurrency and a letter from the trading … Read more

Binance Launches Binance Pay, Says Users Can Now ‘Pay And Get Paid In Crypto’

The world’s largest crypto exchange platform Binance has launched the Binance Pay beta which allows users to pay and get paid in crypto. According to the statement on the Binance website, ‘Binance pay is a contactless, borderless and secure cryptocurrency payment technology.’ This implies that the service will be open to all nations where Binance … Read more

Cryptocurrency Exchange Gemini Introduces New Service, Says Users Can Earn Up to 7.4% Interest

Cryptocurrency exchange Gemini has introduced a new service called the Gemini Earn where crypto owners can save their tokens and earn interest from them. According to the announcement made by the exchange on Tuesday, savers can earn and receive up to 7.4% interest on their cryptocurrency daily. Crypto traders on the Gemini platform can easily … Read more

SEC Files Charges Against Three For $11 million Bitcoiin2Gen Fraud

The Security and Exchange Commission, SEC has filed charges against three players in the Bitcoiin2Gen (B2G) cryptocurrency investment scheme for allegedly engaging in securities fraud. The SEC filed the charges on Monday, stating that Bitcoin2Gen was used to defraud investors of $11 million through two ‘fraudulent and unregistered ‘digital asset securities offerings – Start options … Read more

Telegram Group Suspected to Propel XRP Price by Over 50%

Embattled cryptocurrency XRP has experienced a surprising price surge on Saturday. The cryptocurrency’s price reached $0.50944, increasing by 56% to set a record of the biggest single-day percentage gain since December 21, 2017. There are speculations that the members of a Telegram group named Buy and Hold XRP influenced the price rally. They are presumed … Read more

Over 50 million Transactions Reached in Facebook’s Diem Testnet

The testnet for Facebook-backed stablecoin project Diem has crossed 50 million transactions. According to data from cryptocurrency platform blockchain explorer, the testnet has reached 52,275,496 transactions. Testnet is an alternate cryptocurrency used for experimenting without using the real cryptocurrency. The purpose of testing is for developers to spot and fix any possible glitch and faults within the … Read more

South Africa Plans to Regulate Crypto Trading Following Alleged Ponzi Scheme

South Africa’s financial regulator Financial Sector Conduct Authority wants more power to enforce control on the trading of cryptocurrencies in South Africa following the collapse of a Ponzi scheme alleged to be the largest in the county so far. Mirror Trading International had claimed to be a Bitcoin trader with 260,000 members and 23,000 Bitcoin … Read more

China-Based Company The9 Signs MOU to Purchase 26,007 Bitcoin Mining Machines

China-based internet company The9 Limited has announced that it has made some moves to purchase 26,007 Bitcoin mining machines to diversify its business into cryptocurrencies. According to a press release on its website, The9 signed five Memorandums of Understanding with five Bitcoin mining machines owners to purchase mining machines which are expected to have a … Read more

Bitcoin Mining Publicly Traded Company Marathon Patent Group Buys $150 Million Worth Of Bitcoin

Bitcoin mining company Marathon Patent Group has become the latest publicly traded company to invest in Bitcoin. The Nasdaq-listed company made its first Bitcoin purchase from the market of 4813 Bitcoin for about $150 million from the company’s cash reserves on Monday. According to the CEO of Marathon Patent Group Merrick Okamoto, the company is … Read more

Ripple Co-Founder Jed McCaleb Sells $8.78 Million Worth of XRP After Pausing Sales For 25 Days

Ripple Labs co-founder Jed McCaleb has continued the sale of his XRP stash with the recent sale of 28.6 million tokens on Monday after a 25-day pause. Jed McCaleb’s latest 28.6 million XRP sale from his “tacostand” wallet is worth $8.78 million. According to tweets by crypto researcher Leonidas Hadjiloizou, Jed had temporarily halted the sales of … Read more

Iranian Government Allegedly Confiscates 45,000 Bitcoin Mining Machines

The Iranian government has allegedly confiscated 45,000 bitcoin mining machines, claiming that they are using subsidized electricity illegally. Local news outlet Tasmin News Agency reported that bitcoin miners have been consuming 95 megawatts per hour (MWh) of electricity, using application-specific integrated circuit (ASIC) mining machines. According to Mohammad Hassan Motavalizadeh, head of Iran’s state-run electricity … Read more