roadrunner

The National Superintendency of Crypto Assets (Sunacrip) and the National Electricity Corporation of Venezuela (Corpoelec) signed an agreement to establish guidelines to “improve the development” of bitcoin and other crypto mining activities across the country. Venezuelan Government Bodies Are Expected to Set Guidelines for Granting Crypto Mining Licenses According to the government’s announcement on Dec. 9, the Framework Agreement for Inter-institutional Cooperation will define which electric fees will be required for crypto miners to pay to pursue their activities. But the agreement is not limited to putting a fixed rate for mining activities, as both the Ministry of Electric Energy and Sunacrip, whose deal was signed in Caracas by Minister Néstor Reverol Torres and Superintendent Joselit Ramírez, expect to evaluate the feasibility of the crypto mining projects that apply for a license. Torres explained that Corpoelec will check if the projects meet the technical conditions (still to be defined) and if the locations have the proper environment to pursue mining activities. If they do not, Corpoelec has the right to reject the license applications. Crypto miners interested in joining the Comprehensive Mining Registry (RIM) should apply within 60 days through the official website of Sunacrip. Aiming to Regulate Electricity Supply Service Provided to Crypto Miners The officials also claimed that people should expect to see “fair tariffs” for the crypto mining sector in Venezuela to improve the service. It is worth noting that the country currently provides an unstable energy supply service, often leading to massive blackouts that could last entire days. However, there is no clarity on whether the correspondent fees will be charged in bolívares (Venezuela’s national currency), other fiat currencies, or cryptocurrencies. Superintendent Ramírez made the following comment after the announcement: These parameters, duly articulated jointly between Sunacrip and Corpoelec, will allow digital mining to generate benefits for all. The companies that do not comply with the requirements established by the governing bodies in the matter will be outside the law, and the corresponding sanctioning measures will be applied. This announcement came after news.Bitcoin.com reported about the Venezuelan Army inaugurating a cryptocurrency mining center on Nov. 30, with bitcoin mining equipment to generate “unblockable income” in the midst of the U.S. sanctions. Do you believe in the crypto mining-friendly stance of the Venezuelan government? Let us know in the comments section below. The post Venezuelan Government Signs Agreement to Establish Guidelines for Granting Licenses to Crypto Miners appeared first on Bitcoin News. View the full article

Leading life insurance company Massmutual has become the latest big company to invest a huge sum of money in bitcoin. Massmutual believes that having a bitcoin position in its investment account will help the company deliver long-term value to its insurance policyholders. Massmutual Buys Bitcoin Worth $100 Million Massachusetts Mutual Life Insurance Company (Massmutual) announced on Thursday that it has purchased $100 million worth of bitcoin and also a $5 million equity investment in NYDIG, a provider of institutional investment and technology solutions for bitcoin. Founded in 1851, Massmutual is one of the largest and most highly rated life insurance companies in the United States. NYDIG is a bitcoin-centric financial services firm founded in 2017 as the digital asset subsidiary of Stone Ridge Holdings Group. It holds both a Bitlicense and a limited purpose trust charter from the New York State Department of Financial Services. The announcement details: Massmutual has also purchased $100 million in bitcoin for its general investment account in a transaction facilitated by NYDIG. The insurer added that its “bitcoin position is held on NYDIG’s secure, audited, and insured custody platform.” “We are proud of this incredible moment in the history of both bitcoin and the insurance industry,” NYDIG CEO Robert Gutmann commented. “This reflects the expansion of bitcoin to insurance company general investment accounts.” Massmutual Chief Investment Officer Tim Corbett said: “We believe that having an equity stake in NYDIG as well as a bitcoin position in our general investment account will help us deliver long-term value to our policyowners.” The founder of Stone Ridge Holdings Group and NYDIG, Ross Stevens, commented: There is nothing surprising to me about Massmutual leading their industry yet again by both seeing, and acting on, the long-term value of the bitcoin monetary risk premium for their policyowners. What do you think about Massmutual investing $100 million in bitcoin? Let us know in the comments section below. The post Major Insurer Massmutual Invests $100 Million in Bitcoin for Long-Term Value appeared first on Bitcoin News. View the full article

PRESS RELEASE. Decentralized finance protocol CLEVER (CLVA) launches its latest program called “Will you take the 888 cycle challenge’’. The program offers a guaranteed interest model that enables users to earn compound interest paid fortnightly to all CLVA token holders. This is achieved by placing all CLVA token holders on a pre-programmed routine cycle schedule over 888 fortnightly cycles that will take exactly 34.15 years to complete. Every 14 days newly minted CLVA is awarded to token holders. CLVA token holders will be able to receive up to 11% compound interest paid fortnightly within the cycles. CLVA also offers impressive interest yield within the first year of minting. CLVA holders that hold their tokens for a year will be able to reap up to 307% interest on their portfolio at the end of the first year. This is more than what other DeFi yielding protocols offer to yield farmers and places CLEVER at the top of the list. A unique aspect of the 888 cycle challenge is that CLVA tokens held are not entered into any term contract or staking period. Thus users have the freedom to move or send their CLVA tokens within cycles offering true decentralization within its ecosystem. Also, there are no penalties for buying or selling CLVA within that period and the more CLVA held by investors the higher the interest earned. All that is required to partake in the challenge is to register for the minting phase which begins on February 1st 2021. There are two processes of minting. Using Metamask or MyEther Wallet Send your chosen amount of ETH to the CLEVER Smart Contract directly by using Metamask or MyEtherWallet to automatically receive the corresponding CLVA back to your wallet instantly. Using The CLEVER Portal Just connect to your wallet using Metamask via the CLEVER Portal and select the amount of CLVA you wish to mint. About Clever DEFI Clever is a DeFi protocol that aims to revolutionize the current yield farming process and seeks to pay significant interest rates than other protocols in the market. CLEVER is built on the Ethereum network and it possesses all the immutable and secured qualities of Ethereum. It uses a Decentralized Distribution Mechanism (DDM) embedded within its smart contract that cannot be changed after it has been deployed. The DDM is what determines the value of CLVA and is responsible for distributing interest payments to all token holders of CLVA during the 888 cycle schedule. What makes CLEVER DeFi unique is that it is truly decentralized and begins with zero initial supply, unlike other protocols that pre-mint tokens. Thus none of the development team owns any tokens and all tokens will be minted during the mint phase and accounted for on the blockchain. This is important as it ensures minimal risk when investing or holding CLVA tokens since the team owns no initial supply and won’t be able to dump tokens in the market-leading to a price decrease. The CLEVER DEFI team only receives a fraction of tokens for each cycle (0.1%) for the development of the project. Clever DEFI is also secured and its smart contract is fully verified and was audited by cyber security firm BlockHunters. To learn more about CLEVER DEFI, you can visit the website or read the whitepaper. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post Clever DeFi Launches 888 Cycle Challenge appeared first on Bitcoin News. View the full article

Twitch director and former CEO of Bebo Shaan Puri announced that he has put 25% of his net worth into bitcoin. He believes that bitcoin presents “a rare opportunity to front run a wave of institutional capital.” Shaan Puri Puts 25% in Bitcoin Shaan Puri, director of Twitch, the streaming video platform owned by Amazon, announced Thursday via Twitter that he has moved 25% of his net worth into bitcoin. Puri was the CEO of the now-defunct social networking platform Bebo between 2017 and 2019 after the company went bankrupt in 2013. The platform went through a series of acquisitions before it was acquired last year by Amazon’s Twitch, where Puri now holds the position of Senior Director of Product. He is also an angel investor, spending about $2.5 million in 25 startups a year. Puri tweeted on Thursday: I have moved 25% into bitcoin. At the time of writing, this tweet had 234 comments, garnered 2.4k likes, and 132 retweets. A number of people commented that 25% was too small for Puri, while some warned him that his bitcoin investment will not end well. However, Puri did not say how much that investment was worth. About 10 hours later, he followed up with another tweet that reads: “To everyone saying you’re at 90%..the denominator matters.” While his initial tweet does not specify what the 25% was of, a Twitter user asked him if it referred to his net worth. Puri replied, “Yup.” The Twitch director opined, “Bitcoin is the only asset where you can go irresponsibly long – and then everyone tells you it’s not enough. And they’re probably right,” elaborating: I think it’s a rare opportunity to front run a wave of institutional capital that will come into BTC in the next 2 years. Furthermore, Puri wrote, “I think people think this time it hits $20k is ‘just like last time’ but it’s not for many reasons.” Recently, a growing number of institutional investors have expressed interest in investing in bitcoin. JPMorgan’s analysts have observed funds moving out of gold exchange-traded funds (ETFs) into Grayscale’s bitcoin trust for months. A survey by Fidelity shows that 60% of institutional investors believe that bitcoin has a place in their portfolios. Furthermore, an increasing number of companies are also adding bitcoin to their treasury reserves, such as the Nasdaq-listed Microstrategy which now owns 40,824 bitcoins and has plans to purchase more. Do you think Shaan Puri should put more money into bitcoin? Let us know in the comments section below. The post Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of Institutional Capital’ appeared first on Bitcoin News. View the full article

A 19-year old Ukrainian politician disclosed all the property he owns during an anti-corruption procedure, mandatory for all public officials in Ukraine, who revealed that he holds millions of dollars worth of monero (XMR). 19-Year-Old Ukrainian Politician Discloses Its Monero Holdings Rostislav Solod, a newly appointed member of the city council in Kramatorsk, Ukraine, declared that he owns 185,000 XMR, which is worth $24,534,700, according to data from markets.Bitcoin.com, plus real state, cars, and stock. The declaration was made public on December 2, 2020, where Solod stated that he became the crypto fortune owner back in 2015 when he was 14 years old, and XMR was trading at $0.50 per coin approximately. The acquisition was classified in the category of “property” in the document at that time. Solod is the son of Natalia Korolevska and Yuriy Solod, well-known Ukrainian politicians who are members of the national parliament, the Verkhovna Rada. However, in the crypto community, they’re also known for being absent during the first hearing of the draft bill on digital assets passed in early December. Ukraine Passed Its First Draft Bill on Digital Assets According to the bill, digital assets in Ukraine are defined as “a set of data in electronic form” that “can be an independent object of civil transactions, as well as certify property or non-property rights.” However, the law doesn’t consider virtual assets as legal tender. Back in March 2020, the Ukrainian National Agency on Corruption Prevention (NACP) issued a document detailing how cryptocurrencies must be reported on income declarations by Ukrainian officials as part of the national anti-corruption new measures. Under the new guidelines, cryptos are categorized under the “intangible asset” section. Although the document targets officials, the declaration must also be submitted by individuals with foreign incomes, including freelancers. In terms of crypto adoption, Ukraine tops the 2020 Global Crypto Adoption Index compiled by blockchain data analytics firm Chainalysis and published on September 9, 2020, followed by Russia, China, South Africa, Nigeria, Kenya, and the U.S. What are your thoughts on this anti-corruption measure in Ukraine? Let us know in the comments section below. The post Newly Appointed Ukrainian Politician Declares Owning Over $24 Million in Monero appeared first on Bitcoin News. View the full article

Argentina’s Senate approved an extraordinary one-time wealth tax to fight the coronavirus pandemic by seeking to boost government revenue and targeting millionaires with assets of more than 200 million pesos ($2.5 million). At the same time, the country still faces a 35% inflation. Argentinean Senate Approves New Taxes, While Bitcoin Keeps Skyrocketing Against the Argentine Peso According to El Pais, the measure, citing opposition parties’ statements, could “slow down the investments” in a country whose fiat currency, the Argentinean Peso (ARS) is highly devalued against bitcoin (BTC). The law aims to tax between 1% and 3% of the wealth of taxpayers. As of press time, BTC/ARS is hovering around the 1,500,850 level, off from the 1,594,196 area (all-time high) reached early December 2020. It is worth noting that this price is not based on the parallel dollar (known as “blue dollar”) that circulates in Argentina, but the official dollar price. Back in July 2019, BTC was trading at 491,000 ARS, yielding over 185% in a single year so far. If the quotation is made with the blue dollar, bitcoin is currently treading waters at 2,712,438 ARS, according to local exchange Ripio. The parallel dollar is the only free exchange rate governed by supply and demand forces in the country. Although its purchase and sale in the country are illegal, the surging of the quotation is related to the depreciation of the ARS: a currency that faces economic troubles, inflationary turmoil, oversized emissions, and hopeless forecasts from experts, giving enough room to BTC to surge across the board. On December 5, 2020, a Bloomberg report noted that the gap between the official and market-based exchange rates narrowed since October due to the government’s adoption of more “orthodox measures to boost exports.” Is This the End of the Argentinean Peso in the Latin American Nation? This is given in the context of the recent stance from the Director of the Central Bank of Argentina (BCRA) on fiat, Carlos Hourbeigt, who stated in a recent presentation before the Argentine Chamber of Fintech that “the common enemy is the cash.” He has been promoting “Transferencias 3.0,” an upcoming national payments network that aims to replace the Argentinean peso in cash, and which will be monitored by the Central Bank and three companies from the financial sector, including Prisma, Red Link, Interbanking, and Coelsa. Despite the interest of the BCRA in replacing cash in the country, the local cryptocurrency community has taken this stance with some skepticism. Camilo Jorajuría, an Argentinean legal consultant and expert in bitcoin and blockchain affairs, made the following comment through his Twitter account on the digital wallet promoted through Transferencias 3.0, raising concerns on privacy: The desire of regulators, local and global, is the Chinese model. Maximum population control with zero privacy. Only bitcoin fixes this. Crypto Adoption Keeps Surging in Argentina A study published by Chainalysis on September 3, 2020, analyzed the current status of cryptocurrencies in Latin America, highlighting Argentina as one example of how its depreciation in the national fiat has been boosting crypto adoption significantly so far this year. The report also adds that restrictions on the amount of U.S. dollars that Argentineans can buy per month fuel the need for buying cryptocurrencies across the nation, as such barriers limit their options to secure savings. Do you think the recent tax measures will only help to further boost crypto adoption in Argentina? Let us know in the comments section below. The post Bitcoin Is Going Through the Roof in Argentina While the Government Imposes New Taxes appeared first on Bitcoin News. View the full article

Billionaire hedge fund manager Ray Dalio, a long-time bitcoin skeptic, is warming up to the cryptocurrency. The founder of Bridgewater Associates, the world’s largest hedge fund, now says that bitcoin “could serve as a diversifier to gold and other such storehold of wealth assets.” Bridgewater’s Ray Dalio Sees Bitcoin’s Role in Investment Portfolios Bridgewater Associates founder Ray Dalio, who has long been skeptical about bitcoin, now says that the cryptocurrency has a place in investment portfolios. In a Reddit AMA on Tuesday, Dalio clarified his view about bitcoin. The American billionaire hedge fund manager founded Bridgewater Associates and has served as its co-chief investment officer since 1985. With about $140 billion in assets under management, his hedge fund is the largest in the world. AICIO Magazine and Wired Magazine have called Dalio the “Steve Jobs of Investing,” and TIME Magazine has named him one of the 100 Most Influential People. Last month, Dalio tweeted that he “might be missing something about bitcoin,” and would “love to be corrected.” However, at that time, he was still unconvinced about the cryptocurrency, raising several key concerns, which bitcoiners quickly debunked. Many Reddit users asked Dalio about bitcoin during the AMA, including user Nassimtalebiscoolleb, a self-proclaimed fan of American economist and trader Nassim Taleb. “I think it’s clear that the inequality in this country has gotten too rampant and we have lost our ways as a capitalist nation. I believe you recognize that central bank stimulus has played a big role in this,” he began. “Is bitcoin a potential answer to this issue that the global new world fiat monetary system has caused?” Dalio wrote in response, “I think that bitcoin (and some other digital currencies) have over the last ten years established themselves as interesting gold-like asset alternatives, with similarities and differences to gold and other limited-supply, mobile (unlike real estate) storeholds of wealth,” elaborating: It could serve as a diversifier to gold and other such storehold of wealth assets. The main thing is to have some of these type of assets (with limited supply, that are mobile, and that are storeholds of wealth), including stocks, in one’s portfolio and to diversify among them. The billionaire fund manager added that “Not enough people do that.” Nonetheless, he maintained: “As for bitcoin relative to gold, I have a strong preference for holding those things which central banks are going to want to hold and exchange value in when they are trying to transact.” A slew of hedge fund managers have recently become more bullish about bitcoin, including Paul Tudor Jones, Bill Miller, and Stan Druckenmiller. Jones recently said he believes that bitcoin’s market cap would grow beyond $500 billion. Even the CEOs of major banks are speaking positively about bitcoin and launching bitcoin services, including Standard Chartered CEO Bill Winters and Blackrock CEO Larry Fink. What do you think about Ray Dalio changing his stance on bitcoin? Let us know in the comments section below. The post Founder of World’s Largest Hedge Fund Ray Dalio Sees Bitcoin as Gold Alternative in Portfolios appeared first on Bitcoin News. View the full article

According to onchain data analytics researchers, one of the founders of the company Ripple, Jed McCaleb allegedly sold 29.5 million XRP in a single day. McCaleb, an early cryptocurrency investor, and self-made entrepreneur is one of the richest men on the planet. There are a number of investors who happened to get into cryptocurrency at a very early time during the crypto economy’s history. The following editorial is the first of a series of articles that delve into some of the richest crypto investors worldwide. Jed McCaleb is an enigma and incredibly wealthy thanks to his early investments into the digital asset space, specifically when he cofounded the company Ripple. He’s also been pegged as the 40th richest individual on the face of the planet. It is estimated that McCaleb owns more than $20 billion in digital assets and that’s just his XRP token ownership. Estimates also show that when McCaleb founded “Opencoin,” which was rebranded to Ripple, the founder held 9 billion XRP tokens. Blockchain researcher Leonidas Hadjiloizou has been reporting on Jed McCaleb’s XRP sales. Hadjiloizou spied McCaleb’s alleged XRP wallet transferring over 29 million XRP last Sunday. Just recently, the researcher Leonidas Hadjiloizou shared data concerning McCaleb selling a massive quantity of XRP on December 6. On Sunday, December 6, 2020, XRP was swapping for $0.59 to $0.62 per token. That would make McCaleb’s sale worth over $17 million and prior to the dump, Hadjiloizou says that McCaleb has been selling increments of over 9 million XRP on a daily basis. “After selling 9.9 million XRP per day for a week, Jed was able to sell 29.5 million XRP today,” Hadjiloizou tweeted on Sunday. Another report published by the blockchain analytics provider, Whale Alert, last February indicates that in September 2019, researchers caught 100 million XRP flow from Ripple to McCaleb’s known wallet. Whale Alert said they managed to “track the sales of 1.05 billion XRP (almost exclusively through Bitstamp) between 2014 and 2019. “At an average sale price of 0.129 cents per XRP, the total sale amount was $135 million USD,” the researchers added. However, not too long after the XRP post was published, Whale Alert updated the post with new numbers that they uncovered. The post says: Update: We have calculated the sales of XRP by Jed McCaleb for 2020 up to August 3. During this period an additional 375 million XRP have been sold through his accounts for a total value of $75 million USD. Jed McCaleb is the cofounder of Ripple and is considered the 40th richest individual today. It has been estimated that at one time, McCaleb had around 9 billion XRP and has sold much of the coins over the years. McCaleb’s history is much larger than creating Ripple, as the entrepreneur and programmer founded the infamous trading exchange Mt Gox and sold it to Mark Karpeles. He also served as the chief technical officer (CTO) for Ripple until 2013. Before Mt Gox, McCaleb was also well known for crafting the peer-to-peer Edonkey 2000 application. Moreover, McCaleb also cofounded another digital currency network called Stellar with Joyce Kim. Stellar (XLM) is a fork of XRP and it is similar to the Ripple network. When the Stellar network first started it leveraged a Federated Byzantine Agreement (FBA), which was originally invoked by the Ripple network. However, one of Stellar’s chief scientists, David Mazières switched XLM’s network over to the Stellar Consensus Protocol (SCP). The distributed ledger protocols’ Stellar and Ripple do not leverage proof-of-work (PoW) or proof-of-stake (PoW) consensus algorithms, as the networks depend on the use of validators. Today, there’s 21,761,065,319 stellar (XLM) in circulation and the coin is worth $0.16 per token, making it the 11th largest market capitalization according to statistics. McCaleb is quieter than most proponents in the industry and typically keeps to himself these days. In 2017, he founded Lightyear.io, which later became known as the Interstellar payment system. In addition to being named the 40th richest person by Forbes, in 2018 McCaleb was also awarded one of the top ten individuals who is leading the “blockchain revolution” by the New York Times. While perusing Google’s 204,000 results of articles about Jed McCaleb, one will find quite a lot of them are about him selling XRP. The Ripple cofounder has also given a lot of XRP away over the years, as McCaleb is known for donating over $500,000 XRP to the Machine Intelligence Research Institute (MIRI). The donation from McCaleb was MIRI’s largest donation to-date. Further McCaleb also donated funds to the artificial intelligence research laboratory and the for-profit corporation Openai LP. What do you think about Jed McCaleb’s recent 29 million XRP sale and the history behind the early investor? Let us know what you think about this subject in the comments section below. The post Crypto Billionaires: Ripple’s Jed McCaleb World’s 40th Richest Person, Cofounder Sells 29 Million XRP Last Week appeared first on Bitcoin News. View the full article

The rise of bitcoin is hurting the gold market and may continue to do so for many years to come as institutional adoption grows, according to JPMorgan Chase & Co strategists. Led by Nikolaos Panigirtzoglou, the strategists noted the declining inflow of funds allocated to gold exchange-traded funds (ETFs) since October, as flows into bitcoin (BTC) funds have swelled almost simultaneously. They said that the move “represents the transfer of billions in cash.” “The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced,” Panigirtzoglou said, in a Bloomberg report on Dec. 9, adding: If this medium to longer-term thesis proves right, the price of gold would suffer from a structural headwind over the coming years. To illustrate the point, JPMorgan looked at the performance of the Grayscale Bitcoin Trust, a publicly listed security widely used by institutional investors. Since October, said the bank, nearly $2 billion has poured into the Trust. That compares with outflows of $7 billion for gold-backed exchange-traded funds over the same period. JPMorgan suggested that one-way gold holders could play the coming onslaught is to buy one Grayscale unit and sell three units of the SPDR Gold Trust. It detailed that while bitcoin accounts only for 0.18% of family office assets, compared with 3.3% for gold ETFs, any small movement of funds from gold to BTC would “represent the transfer of billions in cash.” Wall Street financial barons that previously used all sorts of adjectives to discredit bitcoin have this year either started to rescind their past opinions or to pile into the top crypto, looking to hedge against inflation fuelled by coronavirus-induced stimulus spending. Notable investors like Paul Tudor Jones, Stan Druckenmiller, and Wall Street giants Guggenheim Partners have all moved money into bitcoin or are planning to do so. Blackrock CEO Laurence D. Fink, who in the past called bitcoin a money-laundering tool, now thinks the asset will grow into a global market. In its analysis, JPMorgan warned, however, that “there’s a good chance that bitcoin prices have overshot and gold is due for a recovery.” It said bitcoin prices have lost momentum, which could result in some selling pressure in the short-term. Bitcoin has tumbled by about 8% since reaching an all-time high of $19,864 on November 30. On Wednesday, the digital asset lost nearly $2,000 of its value in a precipitous decline to $17,600. At the time of writing, prices had recovered to around $18,277. What do you think about JPMorgan’s gold predictions? Share your thoughts in the comments section below. The post Growing Bitcoin Adoption Hurting Gold Market, Gold Price Will Continue to Weaken, Says JPMorgan appeared first on Bitcoin News. View the full article

At Bitcoin.com, our team is all about spreading the benefits of peer-to-peer electronic cash and our flagship wallet is a testament to our team’s passion. Bitcoin.com’s noncustodial crypto wallet recently upgraded and now offers a new payment link feature that allows anyone to send bitcoin cash by email, and even social apps like Whatsapp, Facebook, Slack, Telegram, and Instagram. Just recently the Bitcoin.com Wallet added a number of new features in the latest 6.10.3 version release. The Bitcoin.com Wallet is a noncustodial bitcoin cash (BCH) and bitcoin (BTC) client that also allows users to store SLP-based tether USDT stablecoins, and Simple Ledger Protocol tokens as well. In the latest edition of the Bitcoin.com Wallet, our software development team has made it much easier to send transactions in a few different ways. On November 24, the BCH proponent David Bond (@hellodavidbond) tweeted about the Bitcoin.com Wallet’s new “Send Anywhere” feature. “The Bitcoin.com Wallet now allows you to send [bitcoin cash] the same way you’d share a link, or meme. This is awesome,” Bond tweeted. After depositing $2 worth of bitcoin cash into the wallet, I simply pressed send and the client allows you to choose the “shareable link” feature. With the new Send Anywhere feature from the Bitcoin.com Wallet, sending BCH gifts during Christmas or during the Chinese New Year has never been easier. In order to leverage the new Send Anywhere feature, Bitcoin.com Wallet users need to upgrade to the latest 6.10.3 client version. After depositing some funds into the BCH wallet, simply press “send” to create and send a shareable link. In addition to sending to any BCH wallet by scanning a QR code or sending to one of your own BCH wallets, the client offers a choice called: “shareable link.” After selecting the shareable link feature, I simply pressed send all and continue and the wallet creates the URL link which can be shared with anyone and anywhere. Following pressing the “shareable link” tab, the wallet directs you to the page where you enter the amount of bitcoin cash you want to send. With my test wallet containing $2 in bitcoin cash (BCH), I simply pressed “send all,” and pressed “continue” to finalize the transaction. After pressing “continue,” the Bitcoin.com Wallet will create a URL link with the bitcoin cash that can be sent using nearly any application on the web. You can send the shareable link via text message, email, Twitter, Facebook, Whatsapp, Slack, Telegram, and basically anywhere you can share a link. Now, remember, you probably want to send the link privately, rather than sharing it in public, as anyone with access to the link can scan the funds. The wallet allows you to interact with the various methods of sending whether it be on Telegram, email, Facebook, Twitter, Instagram, SMS text, and other online web portals and messaging apps. After the creation of my $2 BCH payment link, the Bitcoin.com Wallet gave me a choice to send it via a myriad of applications on my device. Since this was only a test, I sent the bitcoin cash to myself via SMS text message, and instantly received the shareable link. This is an example of the payment link that I sent to myself as an experiment via text message. In order for someone to access the funds, they simply need to scan the QR code using their Bitcoin.com Wallet. Of course, the link shown in this screenshot has been used when I finished this test. Opening up my Bitcoin.com Wallet version 6.10.3, I selected the little scan QR icon on the top right-hand side of the application, which is located next to the notifications bell icon. I simply scanned the payment link’s QR code, and my $2 worth of bitcoin cash (BCH) was instantly added to my wallet. Another cool thing about the Bitcoin.com Wallet’s Send Anywhere feature is that if the recipient does not deposit the funds, the user can simply reclaim the bitcoin cash any time they want. The latest wallet version still gives users the ability to safely store multiple crypto assets including BCH and BTC, offers a portfolio breakdown, the ability to hold stablecoins, and the capacity to purchase and swap coins in a matter of minutes as well. With our secure and super fast Bitcoin.com Wallet, the latest Send Anywhere feature makes sending cryptocurrency to anyone worldwide extremely easy. What do you think about the latest Bitcoin.com Wallet feature? Let us know what you think about this subject in the comments section below. The post Bitcoin.com Wallet Adds Shareable Payment Link Feature – Send Bitcoin Cash to Anyone via Text, Email, and Social Media appeared first on Bitcoin News. View the full article

According to a study published by the blockchain analysis firm Elliptic, over 13% of all proceeds of crime in bitcoin (BTC) were laundered via privacy wallets in 2020, up from 2% from the figures posted in 2019. 13% of All Proceeds of Crimes Leveraging BTC Were Laundered Via Privacy Wallets Dr. Tom Robinson, Elliptic’s co-founder and Chief Scientist, stated in the report called “Financial Crime Typologies in Cryptoassets” that so far in 2020, laundered crypto money through privacy wallets represented over $160 million worth in bitcoin from darknet markets, thefts, and other types of scams. Robinson highlights one of the most famous crypto-related incidents due to its mainstream nature: July’s Twitter hack, where hackers took control of over 130 high-profile accounts on the social media platform and whose bitcoin collected through the deployed scam campaign were laundered through the Wasabi Wallet. Another example mentioned in the report was the $280 million in cryptos stolen from the Asian exchange Kucoin in September, where, again, Wasabi Wallet was used to mix some of the stolen funds, according to forensics analysis. Report Claims Privacy Wallets Are Now the New Money Laundering Tool of Criminals Criminals have been shifting from using mixers to privacy wallets over the past few years, said Dr. Robinson. A mixer is a service that allows users to deposit BTC and then withdraw different bitcoin from the pol, breaking the blockchain trail. There have been some cases where mixers’ providers were fined with million-dollar fines for violating anti-money laundering regulations, such as Helix. Dr. Robinson gave his thoughts on the privacy wallets: Privacy wallets help their users to achieve just that – privacy. There are completely legitimate reasons to use mixers or privacy wallets, and financial privacy is a foundation of any open society. However, the blockchain data shows that criminals have been quick to exploit this new tool and that this represents a growing challenge for regulators, law enforcement and compliance professionals seeking to combat financial crime in cryptoassets. On December 3, 2020, news.Bitcoin.com reported about a study made by Chainalysis, which revealed that darknet marketplaces surpassed so far this year the $800 million threshold worth of cryptocurrencies in revenue made in 2019, the all-time high. The most used cryptocurrencies in the transactions have been BTC, bitcoin cash (BCH), litecoin (LTC), and tether (USDT). What do you think about the report concerning privacy wallets? Let us know in the comments section below. The post Study: Over 13% of All Proceeds of Crimes in Bitcoin Passed Through Privacy Wallets in 2020 appeared first on Bitcoin News. View the full article

Recently, cryptocurrency trading in India has spiked and grown at an unprecedented level. As the Bitcoin rallies and grows strength by strength, the Indian crypto community has multiplied and with this, a fair and regulated market has been on the top of their demands. Amidst the ever-growing market, there are some existing players that have been operating since the past few years, but the entry of CryptoBiz Exchange has built up a hype as they look to take the market by storm with their features. The Reason for the Hype CryptoBiz has a disruptive business model in place where they aim to break the premium-priced Indian market. This will encourage more and more people to start investing in cryptocurrency and become a part of the virtual assets world. One thing to note is that in the current scenario, Indian traders are already at a disadvantage when they are left with no option but to buy at a higher premium than the existing crypto trading platforms. This is where CryptoBiz comes into the picture and aims to disrupt this unjust higher-premium rate and establish a fair market. The company has its financial headquarters in Estonia, but with an Indian team at the heart of its operations, it aims to make Cryptocurrency-trading a seamless experience amid a plethora of innovative features it brings to the table. Cryptobiz Exchange aims to provide an experience that is fast, secure and convenient to accommodate even a first-time user and introduce more and more people to the digital assets ecosystem. Mr. Arjun Dev, who heads the Business Development for CryptoBiz Exchange, is an experienced financial and trading expert – having seen the ins and outs of the cryptocurrency industry since the past 7 years. Mr. Dev believes in a global approach. In his words, “ CryptoBiz Exchange is an ambitious project. Our product reflects our vision for the future. The kind of features we offer and the facilities we are rolling out in a matter of time – it is an all-in-one crypto platform. India is one of the emerging markets in the crypto world and we want to mark our beginning by starting with India – with operations beginning in Malaysia, Japan, Thailand as well as Singapore. We plan to go all out and take the crypto trading market by storm where more and more traders shall be benefited. This is just the beginning. ” With an aim to reach out to the ever-expanding crypto community in India, the COO for CryptoBiz Exchange, Mr. Ahmad Dal envisions to educate and transform the existing market with a product that not only fulfils the needs but also creates new opportunities for the crypto enthusiasts across India, and the international market in the near future. CryptoBiz to Take the Indian Crypto Market by Storm At the moment, the basic BTC buying/selling has been set up and is open for registrations. To use the amazing features provided by CryptoBiz, users are expected to register and open an account on CryptoBiz Exchange. The sign-up process is simple and standard, and once verified, users are directed to their dashboard. Put simply, CryptoBiz looks to become the frontrunner for stabilising the Indian cryptocurrency-trading market. There are some unique features to list, and are all outlined on the official website. As of now, CryptoBiz Exchange is running a Beta version as more and more features are being rolled out. The Android and iOS smartphone applications shall be launched in the next few weeks as CryptoBiz seeks to take its feature-rich platform to the maximum users. In addition to that, an advanced exchange platform with DeFi features is being worked upon and shall be available to the ever-growing Crypto community very soon. With the focus being on a secure platform and convenient user experience, CryptoBiz Exchange vows to serve its customers with the best proactive experience the market has seen. Moreover, CryptoBiz Exchange has built up strategic partnerships with some of the biggest emerging names and services in the cryptocurrency world. Recently, CryptoBiz has collaborated with Trastra – a prominent Crypto Debit Card that enables Crypto to EUR Exchanges and facilitates purchase of crypto in the European Economic Area without exorbitant fees. CryptoBiz seeks to gear up for global expansion with an advanced exchange set to be launched very soon. Collaboration with global products like Trastra is just an indication of how customer convenience is the priority for CryptoBiz. Are you tired of buying Bitcoin at a higher-premium? Do you need an exchange that prioritises your safety while still providing great services? CryptoBiz Exchange is the solution. With a smooth interface and prompt support, the superlative features are here for CryptoBiz to take the Indian cryptocurrency market by storm. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. The post CryptoBiz Exchange Launches in India appeared first on Bitcoin News. View the full article

DBS, the largest bank in Southeast Asia, has officially announced the launch of several crypto services, including a crypto exchange. DBS’ crypto trading platform supports four fiat currencies and four cryptocurrencies, including bitcoin. DBS Launches Bitcoin Services DBS officially announced Thursday that it is launching a “full-service digital exchange” to provide “tokenisation, trading and custody ecosystem for digital assets.” The bank’s new service aims at institutional and accredited investors. “With the DBS Digital Exchange, DBS will leverage blockchain technology to provide an ecosystem for fund raising through asset tokenisation and secondary trading of digital assets including cryptocurrencies,” the bank detailed. It added that this includes security token offerings (STOs), crypto exchange, and digital custody services. DBS explained its crypto exchange will offer “Cryptocurrency trading that will facilitate spot exchanges from fiat currencies to cryptocurrencies and vice versa.” The four fiat currencies supported are the Singapore dollar, the U.S. dollar, the Hong Kong dollar, and the Japanese yen. The bank elaborated: The DBS Digital Exchange will offer exchange services between four fiat currencies (SGD, USD, HKD, JPY), and four of the most established cryptocurrencies, namely bitcoin, ether, bitcoin cash and XRP. The DBS crypto custody service will provide “An institution-grade digital custody solution to meet the increasing demand for secure custodial services tailored for digital assets,” the bank described, noting that its “digital custody services provide the custody of cryptographic keys that control digital assets on behalf of clients.” The launch of DBS’ crypto services came as no surprise since the bank accidentally published information on its upcoming crypto exchange back in October on its website, which it quickly removed. DBS Group CEO Piyush Gupta commented: “The exponential pace of asset digitalisation provides immense opportunities to reshape capital markets. For Singapore to become even more competitive as a global financial hub, we have to prepare ourselves to welcome the mainstream adoption of digital assets and currency trading.” DBS’ announcement follows a similar one by Standard Chartered Bank, which announced Wednesday that it is launching a crypto custody service for institutional investors next year. In addition, Spain’s second-largest bank BBVA has announced that it too will begin offering bitcoin trading and custody service next year through its subsidiary in Switzerland. What do you think about DBS launching a bitcoin exchange? Let us know in the comments section below. The post Southeast Asia’s Largest Bank DBS Launches Full-Service Bitcoin Exchange appeared first on Bitcoin News. View the full article

A South Florida federal district judge has sentenced Jose Angel Aman to 84 months in prison for his role in perpetrating a $25 million diamond Ponzi scheme. In addition, the judge ordered Aman to pay over $23 million in restitution to victims who invested in his diamond cutting business and the purported diamond-backed crypto token. Fraudulent Claims and Promises In a statement, the U.S. Department of Justice (DOJ) says Aman and his unnamed partners successfully recruited hundreds of people after convincing them “to invest in diamond contracts.” The statement adds that the recruitment, which targeted American and Canadian citizens, occurred between May 2014 and 2019. Victims responding to the accused’s solicitations were told their money would be used “to purchase rough coloured diamonds for Aman to cut, polish and resell at a profit.” Still, in order to bolster the appeal of the business, the DOJ alleges that Aman and his partners resorted to lies. The DOJ statement explains: They reassured investors that their money was safe because it was secured by Aman’s inventory of diamonds (purportedly valued at $25 million). Aman and his partners presented the investment as a high return, no-risk deal. The DOJ asserts that the promises and statements were false because “Aman rarely used investors’ money to purchase, cut, and resell rough diamonds.” In addition, Aman did not have a $25 million diamond inventory as he claimed. Still, in order to conceal the fraud and therefore sustain the Ponzi scheme, Aman “made purported interest payments to existing investors with money from new investment victims.” Next, the scammer and his partners convinced the early victims to roll over their investments. According to the DOJ, this “tactic (was) used to buy time until Aman could locate new investors and additional money.” The Diamond-Backed Crypto Token However, when the Ponzi scheme was about to collapse, Aman changed his strategy by setting up a new company known as Argyle Coin. This company would be in “the business of developing a cryptocurrency token backed by diamonds.” Detailing how Aman’s new tactic also failed, the DOJ statement says: Aman solicited new investors for Argyle, promising high rates of return with no risk. Aman used only a fraction of the money received from Argyle investors to develop a cryptocurrency token. He used most of it to pay purported interest payments to the earlier investors and to benefit himself and his partners. The DOJ says Aman used some of the investors’ funds to support “his lavish lifestyle.” What do you think of Aman’s sentencing? Share your thoughts in the comments section below. The post Man Jailed for Role in $25 Million Ponzi Scheme Involving a Failed Crypto appeared first on Bitcoin News. View the full article

BBVA, the second-largest bank in Spain, has announced the launch of its bitcoin trading and custody service through its Swiss subsidiary. Beginning with bitcoin, BBVA plans to expand its services for other cryptocurrencies. BBVA Rolls Out Bitcoin Trading and Custody Services BBVA announced on Wednesday that it “has begun to roll out the trials of what will become its first commercial service for the trading and custody of digital assets.” BBVA (Banco Bilbao Vizcaya Argentaria) is Spain’s second-largest bank after Banco Santander. The group was founded in 1857 and has 727 billion euros in total assets as of the end of September. It has 7,565 branches and almost 80 million customers in over 30 countries. The bank explained that the new service will be offered through its Swiss subsidiary, BBVA Switzerland, which is “dedicated to international private banking services.” Customers will be able to “manage bitcoin transactions and have deposits in this cryptocurrency,” the bank described, elaborating: Starting in 2021, BBVA will offer its clients a service of trading and custody of digital assets, with all the guarantees of any other banking service, with a transparent system that is very simple to operate. “Digital assets have enormous potential to transform the way value and information are exchanged through blockchain technology,” commented Alicia Pertusa, Head of Client Solutions Strategy at BBVA. “Financial institutions, in collaboration with supervisors, can play a relevant role in the integration of digital assets in current markets and infrastructures.” The bank also pointed out that its crypto initiative “comes at a time when several countries are taking important steps toward a new regulation on how these digital asset markets can operate.” BBVA noted that it will not offer advisory services for cryptocurrencies. It further explained that the crypto service will initially be offered in Switzerland “due to the fact that it is the most advanced European country in terms of regulation and adoption of digital assets, and has a wide array of companies in blockchain technology, which it is very useful to start these services.” The bank additionally clarified: BBVA will initially only manage bitcoin transactions and accounts, as it is the most accepted cryptocurrency, but it plans to expand its offering to include other digital assets. What do you think about BBVA launching bitcoin services? Let us know in the comments section below. The post Spain’s Second Largest Bank BBVA Launches Bitcoin Trading and Custody in Switzerland appeared first on Bitcoin News. View the full article

Central banks across the world have been increasing stimulus and letting inflation run high in order to combat the disastrous economic effects of the coronavirus outbreak response. The Bank of Japan has recently become the country’s largest stockholder and the European Central Bank is prepared to expand its colossal stimulus program. Meanwhile, Federal Reserve Chair Jerome Powell is calling on Congress to act fast on America’s stimulus program proposal as “the risk of overdoing it is less than the risk of underdoing it.” Bank of Japan’s $434 Billion Treasure Chest of Exchange-Traded Funds Central bankers are dizzy from all the talks of more economic stimulus and concerns of rising inflation across the globe. In 2020, these financial behemoths have injected massive amounts of stimulus into the hands of private banks and stockholders. For instance on numerous occasions this year, the Bank of Japan (BoJ) has expanded the central bank’s stimulus program. BoJ board members have blamed Japan’s economic fallout on the Covid-19 outbreak. Reuters reports that the BoJ’s “primary tool to deal with the pandemic-striken economy” is “easing corporate funding strains.” Reports say that the primary tools the BoJ has been utilizing to combat the effects of the coronavirus on the economy have been dedicated mostly to “easing corporate funding strains.” This corporate easement, if you will, has led to the BoJ becoming the largest stock owner of the country’s stocks with a $434 billion treasure chest of stocks. According to a report written by Shingo Ide, chief equity strategist at NLI Research Institute, in order to help support the Japanese economy, the BoJ purchased massive quantities of exchange-traded funds. The BoJ’s stocks under management make it the first time ever, the central bank’s stash overshadows the Government Pension Investment Fund. ECB Ready to Launch Colossal-Sized Stimulus Program, Federal Reserve’s Powell Prepared to Over Stimulate The BoJ is not the only bank offering large sums of easement to the smaller banks and corporate sector. According to a recent report and a research note from Societe Generale ECB watcher Anatoli Annenkov, the European Central Bank (ECB) is ready to inject immense amounts of funding into the European economy. The EU economy has been enduring the stress of excessive lockdowns again due to rising coronavirus cases. “The near term outlook remains abysmal, and the ECB will want to keep its focus on the short-term pitfalls until a clearer end to the pandemic is in sight,” Annenkov said on Wednesday. Reports say the European Union is deadlocked on getting stimulus out due to Hungary and Poland having disagreements. However, experts believe the ECB will continue its bond-buying scheme and even add to the massive numbers already recorded in 2020. Societe Generale and Annenkov expect the ECB to continue bond-buying until the end of 2021 and they also believe the ECB will add a supplementary 600 billion euros to the collection of smaller European banks. Meanwhile, Federal Reserve Chair Jerome Powell and former Fed leader Janet Yellen have been calling on U.S. Congress to pass a new stimulus deal. At a recent hearing, Powell explained that the “risk of overdoing it is less than the risk of underdoing it.” However, according to a number of investigators, economists, and analysts, the U.S. central bank has already been overdoing it. Critics Say the Central Banks Have Kept Wall Trading Houses Fat and Continue to Feed Them While Common Citizens Are Thrown Crumbs Investigative reporters Pam and Russ Martens from wallstreetonparade.com have already exposed the Fed in numerous reports outlining how the central bank sluiced trading house Wall Street bankers with $9 trillion, while giving a measly one-time check to American citizens. “The Fed will no longer reveal how much it is making in loans to Wall Street’s trading houses,” the financial researchers and journalists Pam and Russ Martens detail. “Wall Street On Parade suspected that the Fed was secretly pumping out huge sums to Wall Street and that this information would be revealed someday, just as the $29 trillion was revealed in 2011,” the Martens stressed on Wednesday. On December 9, the Martens reported on the Financial Stability Oversight Council’s (F-SOC) recently published 2020 Annual Report. The funding of Wall Street trading houses did not stop in June as the Fed made it seem at that time. Instead, the New York branch of the U.S. central bank “stopped reporting how many billions of dollars a week it was funneling to miscreant mega-banks on Wall Street.” In the meantime, the Martens stress “food pantry lines grew by miles across the U.S. and 3.3 million small businesses were forced to shutter.” While millions of Americans are unemployed and hungry thanks to government-enforced lockdowns, the Fed has kept the stomachs of Wall Street full at all times. Spencer Schiff, the son of the famed economist and gold bug Peter Schiff, recently said it’s unfathomable to contemplate how much the U.S. money supply has grown. “According to data that [was] just released by the Federal Reserve, the U.S. money supply (M2) has now increased by more than 25% over the past year for the first time on record,” Schiff tweeted. “This rate of monetary inflation is astonishing,” he added. The situation is the same with nearly every central bank worldwide as central planners have eased the worries of corporations and banks but have left the citizens out in the cold. This is why many individuals wholeheartedly believe they must hedge with assets like cryptocurrencies and safe havens like precious metals. The horrid macroeconomic circumstances across the globe are clear and blatant indicators that the world’s central banking system during that last century has been an utter failure. What do you think about the actions of the central banks worldwide and all the stimulus programs? Let us know what you think about this subject in the comments section below. The post As Citizens Suffer Central Banks Flush Trading Houses With Trillions, Ease Corporate Strains appeared first on Bitcoin News. View the full article

The Indian cryptocurrency industry is experiencing massive growth. New traders are flooding crypto exchanges, executives from four of the largest crypto trading platforms in India exclusively told news.Bitcoin.com. They also share their views on what drives the Indian crypto market, current traders’ sentiment, and institutional interest in crypto in India. Massive Growth of New Crypto Traders, Volumes Cryptocurrency exchanges in India are seeing record numbers of new users signing up on their platforms, accompanied by huge surges in trading volumes. At Unocoin, one of the oldest crypto exchanges in India, CEO Sathvik Vishwanath told news.Bitcoin.com last week: “Compared to the month of September, we are seeing about 2.5x the number of customers signing up for the service right now.” He added that Unocoin recently “expanded from brokerage to full-fledged exchange.” Over at Wazirx, “New user signups have grown by 125%” and “Monthly trading volumes growth has increased by 225%,” CEO Nischal Shetty revealed. Bitbns CEO Gaurav Dahake is seeing a similar trend, sharing that trading volumes on his exchange have increased by 200% over the last quarter. In addition, “daily user registrations have gone up 800%” since the Indian supreme court lifted the banking restriction in March. Meanwhile, Coindcx CEO Sumit Gupta said that his exchange saw an overall yearly growth of 235.82% in signups compared to the previous year, adding that in the third quarter, his platform “saw 4x growth in daily active users.” What Drives India’s Crypto Market The four CEOs were asked about what is driving the Indian crypto market. Shetty told news.Bitcoin.com: In March 2020, two major events happened which have boosted crypto adoption in India: the supreme court’s historic verdict and the pandemic. He elaborated that “Several Indians have lost jobs, and this has led them to invest in cryptocurrency to earn side income by becoming traders, technical analysts, or crypto influencers.” Gupta explained that “the national interest and curiosity in cryptocurrencies [are] at a new high in Q4.” He recalled that “the gradual shift started right at the beginning of the nationwide lockdown,” induced by the Covid-19 pandemic, which gave people more time at home to explore crypto trading. The supreme court lifting the banking restriction also “gave new entrants confidence to enter the cryptocurrency market,” resulting in “an increasing number of user signups and volumes.” Dahake shared a list of key drivers fuelling the growth of the Indian crypto market, consisting of bitcoin’s “price, retail participation increase, exchanges spending more marketing dollars … and media coverage around it.” Indian Trader Sentiment ‘Strongly Positive’ The CEOs share a similar view when it comes to traders’ sentiment in India. “We are seeing a change in the mindset of investors and traders,” Gupta explained to news.Bitcoin.com, citing several educational initiatives, including some by his own exchange. “More traders are doing extensive research (technical and fundamentals) before making investments and trading decisions in cryptocurrencies.” According to him: There has been a seismic shift in the mindset of investors and traders in the past few years. “What I’m seeing is, people are now taking notice of crypto,” Shetty detailed, emphasizing that “bitcoin is a digital asset which is not limited to any country, or entity, but available to anyone around the globe. Most people you see would actually like to have bitcoin in their portfolio because it’s a future asset.” Furthermore, he noted that bitcoin’s price shooting up is an important factor. Dahake described Indian trader sentiment as “Strongly positive.” He recommends that most new users start with dollar-cost averaging (DCA) bitcoin instead of trading cryptocurrencies directly, noting that his exchange provides a service for this called Bitdroplet. The executives also agree that positive crypto news from around the world, such as Paypal’s new crypto services, does influence the Indian market. Growing Institutional Interest While institutional investors are increasingly interested in cryptocurrency in countries like the U.S., the four CEOs agree that there is still little institutional interest in crypto in India. Institutional interest “is fairly low but growing now,” Dahake remarked. “Custody remains the largest problem with institutional adoption. Till players like Fidelity and others which are big in traditional finance start providing that in India, that would not explode.” In comparison, he described: Retail is growing really fast because the Indian stock market equity returns have been really low. Noticing a similar trend, Gupta affirmed that “At the moment, interest and demand among Indians has been purely retail,” but added that he believes “we may see similar institutional investors in India in the coming years.” Sharing the sentiment, Shetty concurred that institutional participation is “very low in India in crypto,” citing that “regulatory uncertainty is the biggest hurdle.” He emphasized, “institutional players would need regulatory clarity before participating in a new asset class like crypto.” Vishwanath clarified that Unocoin’s recently launched exchange “is designed to cater to both retail and institutional investors,” concluding: We have seen in the past that India follows a trend that is similar to developed countries lagging by a few quarters. So this has made many institutions to start thinking about crypto in their balance sheet but they are yet to jump on the bandwagon yet. What do you think about how fast the Indian crypto industry is growing? Let us know in the comments section below. The post Indian Crypto Boom: New Traders Flood Exchanges — CEOs Reveal What’s Driving Massive Growth appeared first on Bitcoin News. View the full article

Fidelity Digital says it will allow institutional customers to pledge bitcoin as collateral against cash loans in partnership with Blockfi. The firm’s decision helps bitcoin investors turn their digital holdings into cash without selling. Fidelity’s targeted clients include hedge funds, crypto miners, and over-the-counter trading desks. According to a report that quotes Tom Jessop, the president of Fidelity Digital Assets, the firm is also envisioning “the loans to be longer-term than a typical repo trade.” Jessop adds: We want to develop a world-class brokerage capability for assets of all types. The decision by Fidelity’s digital assets division to accept bitcoin as collateral comes as the firm continues to report rising institutional interest in digital currencies. An earlier survey conducted by the firm found that 36% of the respondents held crypto in their portfolios. Additionally, about 60% expressed interest in bitcoin and other cryptocurrencies compared to 47% that had similar sentiment in 2019. Still, the report clarifies that in order to benefit from the loan service, “a Fidelity customer will have to have an account with Blockfi.” In the meantime, Blockfi CEO Zac Prince says his company “will risk-manage the famous volatility of bitcoin by offering cash worth 60% of a loan backed by the digital asset.” Still, he adds the program has room for “client-level customization and may be adjusted to meet the needs of large firms.” What do you think of Fidelity’s decision to accept bitcoin as collateral? Tell us your thoughts views in the comments section below. The post Fidelity Digital to Accept Bitcoin as Collateral for Cash Loans appeared first on Bitcoin News. View the full article

The Belgian regulator, the Financial Services and Markets Authority (FSMA), says scammers are employing new techniques which target Tinder and Facebook users. Using what the FSMA terms an “emotional scam,” criminals are targeting male users of the dating app Tinder with promises of exceptional returns on investments. However, the purported investments are in fact part of a plot to defraud unsuspecting Tinder users. As soon as the scammer gets the victim’s money, they disappear. Use of Fake Profiles In a public warning issued Dec. 3, the Belgian regulator explains how cybercriminals target male users of the app with fake profiles that feature “pictures of a charming woman.” According to the warning, the scammer(s), who usually uses a portrait of a woman of Asian descent, initiates contact by dropping a “Super Like” on the targeted victim’s Tinder profile. Once communication is established, the scammer will convince the victim to move the chat to Whatsapp. As the discussion continues on Whatsapp, the scammer will eventually explain how “she doesn’t have to worry about money and her financial future.” This prompts the targeted person to become curious. When the victim asks how she is making all that money, the scammer will then reveal her “secret” and asks the victim to follow her footsteps by investing in cryptocurrencies (new ICOs). The scammer will send the victim a link to the investing website. However, the FSMA warns the link will instead direct the victim to a “fraudulent online trading platform typically produced in English and Chinese.” Hacked Facebook Accounts Meanwhile, in addition to targeting Tinder users, scammers are also hacking Facebook accounts and are using the comprised accounts to promote fraudulent investment schemes. The FSMA explains: They will for example publish on the account of one of your friends a post boasting of an investment offer providing an exceptional return. If you click on that post, the scammers will usually very quickly call you to present their fraudulent offer. Meanwhile, the regulator is warning those seeking to invest to be wary of investments that promise returns which are completely disproportionate. It adds “where a return seems too good to be true, it usually is.” Furthermore, the FSMA is encouraging investors to do a background check of the investment company before committing funds. Finally, the FSMA wants investors to consult its website before committing funds to an investment platform. Do you know of other social media techniques used by scammers? Tell us in the comments section below. The post Belgian Regulator Warns of Crypto Scammers That Target Male Tinder Users With Fake ICOs appeared first on Bitcoin News. View the full article

PRESS RELEASE. DMEX, the leading decentralized derivatives exchange is officially announcing its public API launch for its users. DMEX, the decentralized BitMEX alternative, is opening its API for public use. Now traders can connect to the exchange and execute trades using their own interfaces or trading bots, bringing DMEX closer and closer to fully replacing centralized derivatives exchanges. Given the latest crackdown on centralized derivatives trading exchanges like BitMEX and OKEx, decentralized alternatives are becoming the go-to option for traders to bet on the price of crypto assets while still remaining anonymous and not having to go through KYC checks. Besides anonymity, DMEX lets users retain full custody of their funds while trading, accepts ETH, BTC and DAI as margin currencies and offers perpetual contracts with up to 100x leverage. Funds are stored on a smart contract and are never in possession of the DMEX staff. DMEX is a truly unique DEX due to its lightning-fast trade execution times, high liquidity, and razor-thin spreads. For new users and practicing traders, DMEX offers a DEMO version of itself, running on the testnet where users get 100 Test-ETH to practice trading and test the features of the exchange. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post DMEX Opens Public API Access appeared first on Bitcoin News. View the full article

BIGG Digital Assets, a Canadian crypto company, revealed this week that it bought 40 additional bitcoins for long-term treasury holding. The purchase increased BIGG’s reserves to 189.5 bitcoins valued at US$3.63 million in total. The Canadian Securities Exchange-listed firm spent about CAD$1 million ($775,000) on its latest buy. The company said it “believes strongly in the future of bitcoin, its store of value capability, and its future valuation potential.” Mark Binns, chief executive officer of BIGG, noted that his company, owners of crypto brokerage Netcoins and data analytics firm Blockchain Intelligence Group, started accumulating bitcoin (BTC) as far back as 2015. “Bitcoin has appreciated substantially as an asset class over 1, 2, 5 and 10 years horizons, and we believe the potential for impactful price appreciation is stronger today than ever,” he said, in an email statement to news.Bitcoin.com. “Institutional involvement and buying, and mainstream adoption, will continue to drive the price of bitcoin as supply remains capped. We believe our bitcoin holdings can act as self financing, over time,” he added. Institutional adoption has helped the price of bitcoin to scale past all-time highs, reaching $19,864 on Nov. 30. Microstrategy, led by its very bullish CEO Michael Saylor, has become the poster boy of this emerging corporate trend, grabbing $425 million in bitcoin in August and September. The company now owns 40,824 BTC, the largest holding of any publicly traded entity, having added another $50 million worth of the asset on Dec. 4. But Microstrategy is not done just yet. Saylor announced on Monday that the company plans to sell $400 million in convertible bonds to buy even more bitcoin. Recently, Cypherpunk Holdings, a Toronto-based outfit, sold all of its ethereum and monero holdings and put all of the proceeds into bitcoin, increasing its treasury reserve to 276.479 BTC. What do think about BIGG increasing its long-term bitcoin holdings? Let us know in the comments section below. The post Canadian Crypto Company Increases Its Bitcoin Treasury Holdings to $3.6 Million appeared first on Bitcoin News. View the full article

SC Ventures, the innovation and ventures unit of Standard Chartered, will launch a crypto custody service targeting institutional investors in London next year. According to a Dec. 9 press statement, the British bank is partnering with U.S. wealth and asset management firm Northern Trust for the project. Together, they will launch a new business called Zodia Custody. The deal is still subject to registration with the U.K. Financial Conduct Authority (FCA) and other regulatory approvals. At launch, Zodia will provide custody services for bitcoin (BTC), ether (ETH), ripple (XRP), litecoin (LTC), and bitcoin cash (BCH), said the statement. Standard Chartered noted that institutional investors account for only 9% of investments in crypto assets currently. The custody service rollout is a result of rising institutional interest in virtual currencies, it stated. “The introduction of digital custody backed by the know-how and experience of global banks is a breakthrough in the evolution and support of institutional cryptocurrency markets,” said Pete Cherecwich, president of corporate and institutional services at Northern Trust. “Zodia’s robust capabilities will make it possible for institutional asset owners, family offices and asset managers to invest in a range of cryptocurrencies as interest continues to grow in these emerging and innovative financial instruments,” he added. A lack of custody services targeting corporates may have been considered a stumbling block to institutional bitcoin adoption in the past. Now, large financial institutions and banks – including Fidelity Investments, JPMorgan, and others – are moving into the space, offering various crypto services. Founded in 1889, Northern Trust has offices across the U.S., Canada, Europe, the Middle East, and the Asia-Pacific region. As of Sept. 30, Northern Trust had assets under custody/administration of $13.1 trillion, and assets under management of $1.3 trillion. Operating out of London as its headquarters, Standard Chartered has a presence in 145 countries. The bank’s chief executive officer, Bill Winters, said this week that the adoption of digital currencies is “absolutely inevitable.” What do you think about Standard Chartered’s new custody service? Let us know in the comments section below. The post Standard Chartered to Launch Crypto Custody Service for Institutional Investors Next Year appeared first on Bitcoin News. View the full article

More cryptocurrency solutions keep appearing on the scene for Venezuelan residents as U.S. sanctions weigh on Nicolás Maduro’s government, including heavy restrictions on the circulation of foreign exchange transactions, driving people to find on crypto a way to circumvent such hurdles and the economic crisis. Venezuelan Freelancers Find Ways to Circumvent U.S. Sanctions by Using Crypto Venezuela Workers, a Venezuelan freelancing platform, had emerged to connect local freelancers with global employers who are seeking to pursue some project or performing a specific task. But the platform is the first-of-its-kind in the country, as all the payments are made via cryptocurrencies such as bitcoin (BTC) and bitcoin cash (BCH). According to their website, the major purpose of launching this platform is to help Venezuelan freelancers to deal with the ongoing economic crisis, which has driven Venezuela’s national currency, bolivar, to have a strong depreciation since several years ago due to hyperinflation. With the Venezuela-based freelancing platform, Venezuela Workers expects to connect local freelancers with “major companies” worldwide. If a firm wants to hire a Venezuelan worker through Venezuela Workers, but they don’t have BTC or BCH to arrange the payment, the platform allows exchanging other cryptos through a third-party site. Chainalysis: Venezuela Is an “Excellent Example” of Crypto Adoption Venezuela is among the key players in the Latin American crypto industry in terms of adoption. A study published by Chainalysis on September 8, 2020, described the country as an “excellent example” of crypto adoption within emerging countries as a means to mitigate the economic crisis. They stated: Our data shows that Venezuelans use cryptocurrency more when the country’s native fiat currency is losing value to inflation, suggesting that Venezuelans turn to cryptocurrency to preserve savings they may otherwise lose. Venezuelan freelancers have also been facing additional struggles to handle crypto peer-to-peer (P2P) payments. Paxful announced the shutting down of its operations in Venezuela back on September 16, 2020, to comply with the U.S. economic sanctions against the Maduro administration. According to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions, U.S. citizens are prohibited from doing business with the Venezuelan government or government-owned businesses, among other restrictions. What do you think about crypto-friendly freelancing platforms? Let us know in the comments section below. The post Venezuelan Crypto-Friendly Freelancing Platform Emerges Amid Economic Crisis, US Sanctions appeared first on Bitcoin News. View the full article

On December 9, the Nasdaq-listed cryptocurrency mining company, Marathon Patent Group, announced the firm is purchasing 10,000 Antminer S-19j Pro units from the Chinese mining manufacturer Bitmain. According to Marathon, after the acquisition of next-generation bitcoin miners, the company will have an aggregate total of 33,560 ASIC miners with up to 3.56 exahash (EH/s) of hashpower. Marathon Patent Group, Inc. (NASDAQ:MARA) has partnered with Bitmain once again to purchase another 10,000 application-specific integrated circuit (ASIC) bitcoin miners. In addition to the recent purchase, Marathon has noted it is also expanding operations and is currently working with the energy producer Beowulf Energy. Marathon details that with Beowulf Energy’s help, it plans to open a new “renewable energy-powered data center in the northeastern United States.” According to the announcement, Beowulf plans to supply Marathon with a 100 (MW) megawatts of energy and the ability to upgrade to 250MW. Marathon says that 6,000 S-19j Pro miners will be shipped in August 2021 and the latter 4,000 will be delivered to the firm’s Montana facility. After Bitmain completes the deal, Marathon’s Hardin Montana data house will be maxed out with a consumption level of 100MW. The company says the Big Horn County bitcoin mining facility will host a total of 33,560 ASIC bitcoin miners with 3.56 exahash per second of SHA256 hashrate. Merrick Okamoto, Marathon’s chairman and chief executive officer, explained that the firm is pleased that it met the maximum requirements at the Hardin data-house in Montana. “We are pleased to have successfully completed the purchase of all ASIC Miners required to fully utilize our 100 MW data center in Hardin MT,” Okamoto said. We are now looking forward to our next phase of growth as we build out our second data center. The new facility will be powered primarily by clean, renewable power, which is not only cost-effective, but will also allow us to lower our carbon footprint.” Okamoto further added: Currently, we believe the costs to operate our second facility will be similar to the industry-leading rates we have at our Hardin facility: $0.028 per kWh for power and $0.006 per kWh for hosting operations. A picture of the Hardin Montana mining facility owned and operated by Marathon Patent Group. By September 2021 the operation is expected to have 33,560 ASIC bitcoin miners with 3.56 exahash per second of SHA256 hashrate. “As a result, the Company will be consuming approximately 100 MWs of power, the maximum amount available at the Company’s data center in Hardin, MT,” Marathon states. At current bitcoin prices, and if electrical costs are truly around $0.028 per kWh at the Hardin facility, then any ASIC bitcoin miner with a hashrate between 80 to 100 terahash will capture over $8.50 or more a day per unit. With the Bitcoin network’s current difficulty at 19.16T and present market prices per unit, Marathon’s Hardin facility with 3.56EH/s can ostensibly capture 14.5 BTC per day, using today’s current estimates and figures for the average of 33,000+ 80TH/s machines. Marathon has been trying to capture a lion’s share of the hashrate derived from the Western side of the world, but the company is also competing with top operations such as Hut8 and Riot Blockchain as well. Bitmain’s Antminer sales director of North, Central, and South America (NCSA), Irene Gao says that the company envisions further cooperation with Marathon Patent Group. “We are pleased to have provided Marathon with another 10,000 of Bitmain’s latest generation of Antminer S-19j Pro mining hardware,” Gao said on Wednesday. “This alliance continues to be mutually beneficial, and we look forward to further collaborating with Marathon and helping them to maintain their leadership position in the Bitcoin mining industry,” she added. Bitmain’s Su Ke, sales director of EMEA CIS Region of Antminer, revealed the launch of the new S19j and S19j Pro mining rigs at the Mining and Investment Summit on November 24. During the last few months, institutions have been eating up a great portion of the next-generation ASIC bitcoin miners, causing bitcoin miners to be concerned about mining rig shortages. What do you think about Marathon maxing out the Montana bitcoin mining operation by purchasing 10,000 Antminer S-19j Pros? Let us know what you think about this subject in the comments section below. The post Marathon Purchases 10,000 Bitcoin Miners, Machines Will Max Out 100 Megawatt Montana Facility appeared first on Bitcoin News. View the full article

Standard Chartered Bank CEO Bill Winters sees the adoption of digital currencies as “absolutely inevitable.” He says there is a role for both private digital currencies and state-backed ones. His bank subsequently announces that it is launching a crypto custody service, supporting a number of cryptocurrencies including bitcoin, bitcoin cash, and ethereum. Standard Chartered Bank CEO Sees Opportunities in Cryptocurrencies The chief executive officer of Standard Chartered, Bill Winters, shared his views on digital currencies at Singapore’s annual Fintech Festival this week. Headquartered in London, Standard Chartered is a large British financial services company with about 1,026 branches worldwide. Winters was appointed Group Chief Executive of Standard Chartered PLC in June 2015 and Chief Executive of Standard Chartered Bank in April last year. Beginning his career with JP Morgan, he previously served as an advisor to the British Parliamentary Commission on Banking Standards. The Standard Chartered Bank CEO was quoted by CNBC as saying on Monday: I think there is absolutely a role for central bank digital currencies as well as non-central bank-sponsored digital currencies. He noted that the digital currency rollout would be led by both private and government-backed entities, adding that his bank will soon announce some news “along these lines.” Following his comments, Standard Chartered announced Wednesday that it has partnered with asset servicing provider Northern Trust to launch a cryptocurrency custodian service for institutional investors. The platform plans to support bitcoin, ethereum, XRP, litecoin, and bitcoin cash. Winters further explained at the Fintech Festival that he sees the biggest opportunity in digital currencies in “new, niche segments that don’t replicate existing fiat currencies,” the news outlet conveyed. “The really interesting development for me is to have currencies that don’t match a currency in and of itself, but are intended to capture either a superset of a subset,” the CEO described. Winters gave an example that digital currencies could be created for specific projects, such as trading in the voluntary carbon market, and users can be confident that the financing behind them is “verified, standardized, [and] monitored.” He emphasized: “Those sorts of applications for a digital currency, and creating a digital currency ecosystem, is something that can’t be replicated by a fiat currency, or, most likely, by a central bank digital currency any time soon … I think there is a whole new world that’s opening up for us.” Do you agree with Standard Chartered’s CEO? Let us know in the comments section below. The post ‘Absolutely Inevitable’: Standard Chartered Bank CEO Sees Widespread Cryptocurrency Adoption appeared first on Bitcoin News. View the full article