Bitcoin Financial News

Proof-of-work (PoW) crypto mining won’t be banned in the European Union — not this year at least. That’s the conclusion from last week’s closely watched committee vote in the European Parliament (EP). 

In this article

Cryptocurrency adoption in Africa is on the march, despite socioeconomic factors and headwinds. A positive report by cryptocurrency exchange KuCoin shows that crypto transactions increased by up to 2,670% in 2022.

The world's largest bitcoin fund is trading at 73 cents on the dollar. That may look like a bargain if you want crypto in your portfolio. But nothing is really free on Wall Street, including a cut-rate deal on bitcoin.

Most other major cryptos were in the red, along with a dip in volumes. Investors digested the long-expected Federal Reserve's 25 bps increase and global unrest tied to Russia's invasion. Barring Terra, all top digital tokens were trading lower on Monday. Avalanche and Shiba Inu tumbled 5 per cent each, followed by a 4 per cent fall in Solana. Bitcoin, Ethereum and Dogecoin shed 3 per cent each.

Here’s a riddle for you – Name a country that has come down hard on Bitcoin mining, literally speaking. If you vaguely remember a certain Southeast Asian country driving a roller over thousands of pieces of crypto-mining hardware, you’re on the right track.

Kriete writes that he will "be taking on a new challenge professionally by creating a new company in this space," while Girasole plans to "start my own venture in the digital asset space".The pair did not explicitly say that their new ventures are connected, with both promising more details once their garden leave ends.Both Citi veterans, Kriete and Girasole were last year put in charge of the newly-created digital asset group, housed in the wealth management division.The unit helps Citi's wealthy clients interested in the likes of Bitcoin, as well as stablecoins, NFTs and CBDCs.Writes Kriete: "Unsurprisingly to those who know me, I believe digital assets will continue to grow in importance to global capital markets and the formation of new business models, and I could not be more excited to assist in the maturation of this market."

Losing money to a Ponzi scam is not the ideal introduction to the crypto ecosystem. Thankfully, Mark Dave Manansala gave crypto and blockchain a second chance and discovered a new passion.

By Analytics Team, Giottus Crypto ExchangeBitcoin (BTC) managed to reverse its losses mid-week and gained 7% last week as the interest rate hike by US Federal Reserve has had a minimal effect on the market. BTC is currently trading near $41,700 with Ethereum (ETH) inching towards $3,000 with a 14% weekly gain. The breakout story of the week belongs to ApeCoin (APE), the token that powers APE NFT ecosystem. The newly launched token is already amongst the top 40 cryptocurrencies by market cap after high volumes of trade in its first week.

Time Magazine made an announcement via Twitter that it will start accepting ApeCoin in the coming weeks.

GST law, so that tax can be levied on the entire value of transactions. Currently, 18 per cent Goods and Services Tax (GST) is levied only on service provided by crypto exchanges and is categorised as financial services. GST officers are of the view that cryptos, by nature, are similar to lottery, casinos, betting, gambling, horse racing, which have 28 per cent of GST on the entire value. Besides, GST at 3 per cent is levied on the entire transaction value in case of gold.

The Malaysian Ministry of Communications and Multimedia (KKMM) is reportedly backing the adoption of cryptocurrencies, with the deputy minister calling the government to legalize crypto.

Bitcoin (BTC) starts a new week on a tentatively stronger footing as macro cues curiously stabilize.

The world's largest bitcoin fund is trading at 73 cents on the dollar. That may look like a bargain if you want crypto in your portfolio. But nothing is really free on Wall Street, including a cut-rate deal on bitcoin.

cryptocurrency. Now, suddenly, it's inescapable. Look one way, and there are Matt Damon and Larry David doing ads for crypto startups. Swivel your head — oh, hey, it's the mayors of Miami and New York City, arguing over who loves Bitcoin more. Two NBA arenas are now named after crypto companies, and it seems as if every corporate marketing team in America has jumped on the NFT — or non-fungible token — bandwagon. (Can I interest you in one of Pepsi's «Mic Drop, genesis NFTs? Or maybe something from Applebee's „Metaverse Meals, NFT collection, inspired by the restaurant chain's “iconic, menu items?) Crypto! For years, it seemed like the kind of fleeting tech trend most people could safely ignore, like hoverboards or Google Glass. But its power, both economic and cultural, has become too big to overlook. Twenty percent of American adults, and 36% of millennials, own cryptocurrency, according to a recent Morning Consult survey. Coinbase, the crypto trading app, has landed on top of the App Store's charts at least twice in the past year. Today, the crypto market is valued at around $1.75 trillion — roughly the size of Google. And in Silicon Valley, engineers and executives are bolting from cushy jobs in droves to join the crypto gold rush.

The Ethereum mainnet is expected to soon “merge” with the beacon chain proof-of-stake system, thus ending proof-of-work for the ETH blockchain.

Bitcoin (BTC) stayed the near top of its recent trading range on March 20 as the weekly close looked set to crack a multi-week high.

South by Southwest — commonly referred to as “South By” or “SXSW” — has returned to Austin, Texas this year to showcase the latest trends in interactive media, music, art, film and technology. While SXSW runs through March 20, 2022, the entertainment and technology festival kicked off its first weekend with a large focus on Web3 and nonfungible tokens (NFTs).

Bitcoin (BTC) rose above $42,000 on March 19 but the bulls continue to face a strong challenge from the bears at higher levels. 

Cryptocurrencies have taken on an unprecedented role in the war in Ukraine, helping the government raise millions of dollars to fund its fight against the Russian invasion. Why has Ukraine turned to cryptocurrencies, and how is the nascent crypto industry changing its reputation and having an impact amid the clouds of war? How much crypto has been raised? — At the outset of the conflict, Ukrainian officials posted addresses for two crypto wallets on their Twitter account, giving donors a direct and clear address to which to send contributions.

I know NFT stands for nonfungible token. But what does it actually mean? Let's start with the words themselves. In economics, «fungible, is a term used for things that can be exchanged for other things of exactly the same kind. The U.S. dollar is fungible, because you and a friend can trade $1 bills, and each of you will still have the exact same spending power. Most cryptocurrencies are fungible, too — a bitcoin is a bitcoin, and it doesn't really matter which bitcoin you have. But most objects in the physical world, such as cars and houses, are nonfungible — meaning they have unique qualities, and you can't just exchange them for others of the same type. (You might be willing to swap your 2020 Honda Civic for another 2020 Honda Civic, but the cars wouldn't be exactly the same, and you'd want to know what condition the other car was in before you'd agree to the trade.)