City Budapestview, Hungary Financial News

20.02 / 09:33

CryptoMarket CoinSwitch Crypto influencers you should follow in 2022

Non-Fungible Tokens (NFTs). India recorded the second-highest number of cryptocurrencies users worldwide during the year, and India-based crypto exchange platforms attracted millions of users, with CoinSwitch alone amassing over 15+ million of them. The crypto market fluctuated as well. While expected, given the market’s volatile nature, the fluctuations were often triggered — to a large extent — by the actions of celebrities, tech titans, industry leaders, and artists, and that was new. These influencers impact the crypto market with their support for digital currencies and often use social media to promote them. And following them can be useful for investors as well.

20.02 / 09:33

Metaverse Credit Suisse Indian Can Indian telcos make most of growing Metaverse theme?

metaverse theme, with investors taking up huge bets in this space. According to a report by Credit Suisse, the transition of the digital ecosystem to metaverse will push data usage by 20 times across the globe by 2032 and telecom operators Bharti Airtel and Jio are suitably placed to benefit from the surge. It added that metaverse has enormous potential to further expand screen time and drive more bandwidth consumption. Both the telecom players Jio and Airtel are extensively engaged in 5G trials, with the technology expected to be rolled out in the next fiscal.

19.02 / 15:25

Dogecoin Ethereum cryptocurrency Bitcoin Top cryptocurrency prices today: Bitcoin, Ethereum, Shiba Inu tank 7% each; Dogecoin drops 5%

crypto traders turned defensive as tensions between Russia and Ukraine intensified. Following this, the appetite for riskier assets, including the digital token, dropped sharply. Investors now looked for safe heaven bets like gold, dampening the sentiments further. Barring the dollar-pegged Tether, all other top digital tokens were trading in deep red on Friday. Avalanche and Terra dropped 9 per cent each followed by Bitcoin and Ethereum, each losing over 7 per cent.

18.02 / 23:03

Digital Currency FBI FBI to form digital currency unit, Justice Dept taps new crypto czar

FBI is launching a unit for blockchain analysis and virtual asset seizure. The creation of the FBI's «virtual asset exploitation» unit comes after the Justice Department's largest-ever financial seizure earlier this month. It charged a married New York couple with allegedly laundering bitcoins now valued at over $4.5 billion that were stolen in the 2016 hack of the digital currency exchange Bitfinex. U.S. regulators under President Joe Biden have been ratcheting up their scrutiny of the crypto industry in the wake of a series of high-profile cyberattacks last year on the largest U.S. fuel pipeline network and the world's largest beef supplier. Ransomware groups often demand their fees in bitcoin.

18.02 / 13:45

Indian index Crypto bourses eye products based on Indian index

Mumbai: In a first for an Indian entity, several domestic as well as foreign crypto exchanges are in talks with CryptoWire, a Financial Technologies Group entity, to launch products based on its IC15 index. IC15, which tracks the top cryptocurrencies around the world in terms of their market capitalisation, is the first crypto index to come out of India. Several Indian and international exchanges have approached CryptoWire for licensing its IC15 index to launch products on their exchanges based on this benchmark, CryptoWire MD & CEO Joseph Massey said. IC15 index was launched on January 3 this year. It is a rule-based broad market index by market capitalisation that tracks and measures the performance of the top 15 widely traded liquid cryptocurrencies listed on leading crypto exchanges of the world, a company release had noted during its launch. Apart from introducing simple index-based products like exchange-traded funds, many other investment products are expected to be developed based on the IC15 index, officials said. Presented ByDid you Know?A statue honour

18.02 / 13:45

NFT Metaverse crypto news Virtual assets Another world? Virtual assets insulated from cooling risk appetite, for now

metaverse" investing has been running on its own timeline. Metaverse-related assets such as currencies which can be used in virtual worlds, and NFTs representing virtual land, took only a small hit as risk appetite dropped in January, while the broader market for digital goods has seen volumes surge. Facebook changing its name to Meta Platforms Inc proved a bigger driver of investment in the metaverse than broader financial market conditions.

18.02 / 05:03

Crypto investing Gold stablecoins: Should you invest in the latest crypto fad?

gold stablecoins, are the latest fad among crypto investors given their recent outperformance. Popular crypto tokens in this class are PAX Gold (PAXG) and Tether Gold (XAUT) and are part of the top 300 cryptocurrencies by market capitalization (m-cap). The m-cap of both these tokens has jumped exponentially over the last one year, with the former outperforming the latter. According to some experts, recent tension between Russia and Ukraine, which has increased the bullion's appeal, has also boosted the demand for such tokens.

18.02 / 05:03

WazirX Reserve Bank of India crypto tax Crypto tax in India spurs bonanza for digital-coin bourses

digital-asset exchanges. Binance-owned WazirX, India’s largest crypto bourse, has seen daily sign-ups on its platform jump almost 30% since Feb. 1, when the government unveiled the levy on the transfer of digital assets in its annual budget, said co-founder Nischal Shetty. At rival CoinSwitch, the daily increase was 35%, according to founder Ashish Singhal. While it might seem counterintuitive that a steep tax would cause people to flock to digital tokens, the step was seen as legitimizing an industry that’s been in regulatory limbo amid fierce resistance from India’s central bank. Shetty said he expects some 100 million people in the country to start investing in crypto in the next two to three years.

18.02 / 05:03

Cannabis CannaDAO to launch platform for cannabis industry

CannaDAO announced the launch of its platform for cannabis growing and operations. It is the world’s first decentralized, member-governed platform for cannabis growing and operations. CannaDAO said it aims at tokenizing the cannabis industry with its permissionless, decentralised, and member-governed on-chain platform. Majority of the world is excluded from the benefits of the legal cannabis industry. The DAO is slated to launch on April 20 and powered by the Aurora cross-chain bridge running on the NEAR protocol. It will allow the users to participate and earn rewards from real-world operations within the cannabis industry, the company said.

18.02 / 05:03

Enforcement Directorate ED probes use of crypto by D-Company, raids associates

Enforcement Directorate (ED) is probing the use of the darknet and cryptocurrencies by India's most-wanted fugitive, Dawood Ibrahim, amid suspicion that the underworld don has turned to digital tools to deploy the proceeds of crime raised through money laundering to invest primarily in offshore real estate. Ibrahim has been found to be actively involved in various illicit businesses, including betting, drug trafficking and extortion, said people privy to the details of the probe. «A substantial amount of the proceeds of crime raised through these illegal businesses has been invested to buy cryptocurrencies and purchase real estate,» said one of the officials, who did not wish to be identified. «Money is routed to wallets through hawala transactions and then these wallets are used to purchase real estate. The United Arab Emirates (UAE) is one of the preferred destinations both for purchase of wallets and investing in real estate. D-Company (Ibrahim's criminal syndicate) has a strong hawala network to send money to the UAE.»

17.02 / 15:59

NFT NYSE crypto news NYSE moves closer to NFT trading with trademark application

NYSE" for a marketplace for non-fungible tokens (NFTs), taking a step closer to setting up an online trading place for cryptocurrencies and NFTs. The hype around cryptocurrencies last year spilled over to NFTs, a form of speculative investment that has attracted fans including former U.S. first lady Melania Trump and Jamaican sprint great Usain Bolt. Companies involved in this sector have also been backed by heavyweights Microsoft Corp and SoftBank Group Corp.

17.02 / 15:59

Why are Bitcoin critics Buffett & Munger investing in crypto-friendly companies?

Warren Buffett's Berkshire Hathaway invested $1 billion in Nubank, a digital lender, in the last quarter of 2021, according to a Securities and Exchange Commission (SEC) filing. The Brazil-based Nubank is a crypto-friendly player, whose investment unit, NuInvest, allows users to invest in crypto exchange-traded funds, according to the company website. This investment move by Buffett, often called 'Oracle of Omaha', has boggled many crypto fanatics as the CEO of Berkshire Hathaway has openly declared his dislike for crypto-assets and called Bitcoins a 'rat poison squared.'

17.02 / 15:59

Dogecoin Ethereum cryptocurrency Bitcoin Drop Top cryptocurrency prices today: Ethereum, Dogecoin drop; Shiba Inu, Avalanche jump up to 4%

crypto market was trading with minor changes on Thursday as investor sentiment was subdued amid ongoing geopolitical developments and Fed meet minutes. Crypto cart was trading mixed with six out of top -10 digital tokens in the red during early trade. Among the gainers, Avalanche rose more than 4 per cent, followed by a 2 per cent rise in Shiba Inu. Solana dropped about 2 per cent, whereas BNB, Cardano and Dogecoin shed a per cent each.

17.02 / 11:49

Bitcoin news crypto news Charlie Munger says cryptocurrencies should have been banned earlier

Munger, 98, spoke while fielding nearly two hours of questions at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publisher and provider of software to courthouses that he chairs. He is better known as vice chairman of Buffett's conglomerate Berkshire Hathaway Inc since 1978.

17.02 / 07:25

crypto currency crypto news RBI RBI should hold debates, discussions before any crypto decision: Experts

Reserve Bank of India (RBI) has been a stringent critic of crypto assets, reiterating its tough stand on the new age asset class. Deputy governor T Rabi Sankar called for an outright ban on private cryptocurrencies at the IBA Banking Technology Awards. He claimed the notorious early 20th century Ponzi schemes were better than investing cryptos. Prior to this, RBI governor Shaktikanta Das said that private cryptos are a serious threat to macroeconomic and financial stability, and investors should keep risks in mind as such assets have no underlying value whatsoever, 'not even a tulip'.

17.02 / 07:25

Digital Currency crypto market Crypto Investors Five real-life uses of the Metaverse that investors should know about

The metaverse is more than just a passing fad, so it is important for you as an investor to not miss out on it. The metaverse is here to stay, and cryptos are the metaverse’s mediums of exchange. If you want to be a part of this universe, the way to start is by building your crypto assets or portfolio using CoinSwitch, India’s leading crypto trading platform with over 80+ crypto assets available on it. As an investor, before you purchase any cryptocurrency, though, it is important to understand why a certain metaverse is important and in what ways it contributes to the very real lives of its users.

17.02 / 05:09

Metaverse The Sandbox Decentraland play Metaverse: How to play the next big theme in crypto world?

metaverse by opening 'Onyx lounge', which is a virtual lounge in the blockchain-based world of Decentraland. The bank has also released a paper exploring how businesses can find opportunities in the metaverse, which has made tokens in the segment move higher. Metaverse is a digital avatar-based universe. It is a virtual reality world where users can interact, play games and experience things or activities as they would in the real world.

16.02 / 14:15

Dogecoin Ethereum avalanche Bitcoin Top cryptocurrency prices today: Bitcoin, Ethereum, Dogecoin, Avalanche zoom up to 11%

New Delhi: The crypto market continued to move higher as signs of ease in the conflict between Russia and Ukraine boosted the confidence of investors. Barring the dollar-pegged USD Coin, all other top digital tokens were trading with higher in early trade on Wednesday. Avalanche rose 11 per cent each, followed by a 4 per cent rise in Ethereum and BNB each.

16.02 / 13:49

cryptocurrency JPMorgan crypto news regulatory JPMorgan calls for regulatory quick fix for crypto hedging

JPMorgan Chase said on Tuesday. The largely unregulated $2.7 trillion cryptoasset sector, which includes bitcoin, is still relatively small, but there are currently no bespoke rules on how much capital banks should set aside to cover activities in the sector. This leaves international banks in limbo and regulators behind the curve.

16.02 / 12:37

Digital Currency RBI Reserve Bank of India RBI’s crypto ban talks give the shivers to small investors

Mumbai: Tough talk by senior Reserve Bank of India (RBI) officials on cryptocurrencies is making the Indian crypto community nervous. On Monday, RBI deputy governor T Rabi Sankar called for an outright ban on cryptocurrencies. Previously, RBI governor Shaktikanta Das had said in a monetary policy press conference that private cryptocurrencies were a threat to the macroeconomic and financial stability of the country, and investors should keep risks in mind as such assets have no underlying value whatsoever, «not even a tulip».

16.02 / 09:49

Bitcoin news crypto news Bitcoin Bitcoin runs into Russian rules and regiments

bitcoin be a safe-haven asset? And can Russia emerge as a crypto superpower? The answer to the first, for now at least, is no; while fortress gold has risen 2.3% over the past week, as Western warnings about Russian aggression have intensified, bitcoin has lost 3%. That was worse than the 0.9% decline of the Nasdaq Composite index. «I don't see any evidence of bitcoin being a safe haven,» said Chris Weston, head of research at Melbourne-based brokerage Pepperstone. «The Ukraine situation with Russia is a really hard one to price, so in that situation, you just buy crude futures.»

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