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Nick Marinoff



Articles by Nick Marinoff

New York Suggests Two-Year Moratorium on Crypto Mining

May 24, 2022

The state of New York has introduced a new bill that if passed, would officially end all future proof of work (PoW) mining operations that want to call the Empire State home.
New York Could End Crypto Mining for a While
Right now, the bill is being discussed by the New York State Assembly in Albany, the region’s capital. The bill calls for a moratorium of not less than two years on all crypto mining operations within the state’s borders. The idea is to further study the crypto mining sector and see if emissions are, in fact, a danger to the environment.
New York is clearly a state that cannot seem to make up its mind on crypto. On the one hand, it clearly has a problem with the large number of mining firms that now call the state home. In addition, it implemented

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Elizabeth Warren Attacks Fidelity for Allowing Crypto Retirement Investing

May 24, 2022

Fidelity Investments has opened its retirement services to those who love crypto. Fans of digital currencies like bitcoin and Ethereum can now purchase these assets and many others like them through their Fidelity-based 401Ks and retirement funds.
Fidelity Is Stirring Concerns Amongst US Lawmakers
Naturally, the move leads to many questions, a main one being, “How big will the crypto space become from here on out?” The maneuver is likely to lead to new levels of legitimacy and mainstream appeal, though there are several politicians and industry leaders out there who are rather concerned that Fidelity could take such a big step towards saying, “Go ahead and spend the money you’ll likely use in your old age and plunk it into volatile assets.”
Among the doubters and

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Luxury Enterprise Gucci Says “Yes” to Crypto Payments

May 24, 2022

Italian luxury brand Gucci – which specializes in fashion and leather goods – is allowing customers to pay for items with digital currencies like bitcoin and Shiba Inu, a popular spinoff of meme cryptocurrency Dogecoin. The company says its customers have been showing heavy demand for crypto in recent years, and thus executives want to adhere to their needs and wants.
Gucci Will Begin Accepting Crypto Payments for Luxury Items
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push

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FTX to Process Crypto Rent Payments for Luxury Miami Condos

May 23, 2022

FTX – one of the largest and newest crypto exchanges in the world – has partnered with Diesel Wynwood Condominium, a luxury residential apartment complex in Miami. The partnership will allow residents to pay their rents and respective living fees with crypto.
FTX Joins Hands with Disel Wynwood
At the center of the partnership is a firm known as West Realm Shires Services, a payment processing division of FTX. This company will convert any crypto used for rent payments into fiat currency to ensure apartment managers, owners, and assorted personnel receive their due funds.
Bel Invest is the development firm that constructed Diesel Wynwood Condominium. The company’s CEO Maximilian Beltrame explained in a recent interview:
We are aligned with Miami’s mission to establish

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Coinbase NFT Division Experiences Dismal Debut

May 23, 2022

Coinbase – one of the largest and most popular crypto exchanges in the world – opened its new non-fungible token (NFT) division to dismal results. The department has been in beta mode since late April and finally opened on May 4, yet experienced little traction.
The NFT Coinbase Market Isn’t Doing Well
Many are wondering if this is a sign that the NFT market has reached its peak. The NFT space has grown exponentially in recent years and now boasts a market cap exceeding $10 billion. There are many traders out there willing to pay hundreds of thousands of dollars for the several tokens being offered in the NFT world, yet there are many people out there who question if these prices are justified and if the NFT space is just another bubble set on bursting soon.
Coinbase

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The SEC Is Looking to Police Digital Currency Activity in the U.S.

May 23, 2022

The Securities and Exchange Commission (SEC) is hiring several new faces for its agency to examine cryptocurrency activities. These individuals and many others will be tasked with fighting illicit behavior in the space and ensuring all crypto trading occurring within America’s borders is clean and regulated.
The SEC Is Looking to Police Crypto Activity
Thus far, the SEC says it’s looking to add roughly 20 new positions to its cryptocurrency department. These positions are being hired out to auditors, investigators, and others who have served in positions of power in the United States financial sector. The crypto division of the SEC will be known as the Crypto Assets and Cyber Unit in the Division of Enforcement.
Gary Gensler – the current head of the SEC – explained

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Paul Chou of Ledger X Is Building a New Galactic Token

May 22, 2022

Paul Chou is the founding CEO of Ledger X, a crypto wallet system. At only 38 years of age, he is one of the most successful crypto entrepreneurs in the space, and he recently sold his company to Sam Bankman-Fried of FTX fame, suggesting the wallet protocols will now become part of this new and growing exchange.
Paul Chou Is Building a Universal Cryptocurrency
Now, Chou has his sights set on a new crypto project. He’s looking to create a new digital token called Foundation Coin, and he says it can be spent on Earth, Mars, the moon, and anywhere else in the universe. As the world plans future space exploration and even colonization in some cases, Chou anticipates that people are going to spread across the galaxy and will need a single unit of currency to keep them all

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Fidelity Lets Customers Fund Their 401Ks with Crypto, but Not Everyone’s Happy

May 22, 2022

Not long ago, Fidelity Investments announced that customers would be able to invest in crypto like bitcoin through their 401Ks and retirement accounts. In addition, several businesses offering 401Ks to their employees could soon see these individuals purchase assets like BTC, ether, and maybe even Dogecoin through their company-funded retirement profiles.
Fidelity Moves Forward with Crypto
The news was widely welcomed in the crypto space, with many analysts saying it would be a huge step toward mainstream status and legitimacy. Financial advisor Ric Edelman – founder of the Digital Assets Council of Financial Professionals – announced in a statement:
This will be remembered as a seminal moment in the evolution of crypto. For the average American worker, their only

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Bitcoin Spikes After Fed Says It Won’t Hike Rates That Much

May 22, 2022

The bitcoin price has been going through some tough times in the month of May. The currency has been trading in the high $30,000 range after several market factors – including rumors that the Fed was going to hike rates and growing conflict in eastern Europe between Ukraine and Russia – took the world’s number one digital currency by market cap down nearly 50 percent from its November 2021 high. At that time, BTC was trading at nearly $70,000.
The Fed Won’t Hike Rates Too High
However, it looks like bitcoin has risen by about six percent at the time of writing. The currency has once again hit the $40K mark after the Fed stated that while it plans to hike rates, this hike will not be out of the ordinary.
There has long been talk that the Fed was going to enforce a

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Despite Dips, Michael Saylor Is Still a BTC Fanatic

May 21, 2022

Despite the many losses his company has incurred due to bitcoin’s price swings, Michael Saylor of MicroStrategy says he remains a bitcoin fan and he’ll never doubt the asset’s abilities.
Michael Saylor Still Trusts Bitcoin
At the time of writing, bitcoin – the world’s largest and most popular cryptocurrency by market cap – has dropped to around $39,000 per unit. This may not seem bad on paper, but when one considers the fact that the asset was trading for just shy of $70,000 about six months ago, things aren’t looking so good, and Saylor has lost quite a bit for investing so much of his company’s money into the asset.
MicroStrategy is arguably one of bitcoin’s biggest institutional supporters. The software giant first began trading and buying bitcoin in August of

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ETHAX: 75% of Traders Want Nothing to Do with BTC Unless Regulation Is in Place

May 21, 2022

A new research study conducted by ETHAX – a regulated and licensed crypto firm – suggests many adults are in favor of crypto regulation and aren’t looking to trade any bitcoin without proper protocols in place.
ETHAX Sets the Tone for Regulatory Compliance
Regulation is something of a two-sided coin (pardon the pun). On one hand, the crypto space has been riddled with crime since it first came about. We all remember the early days of Coincheck and Mt. Gox, which occurred in Japan four years apart in 2014 and 2018. Both are listed among the deadliest attacks to occur on crypto exchanges. Together, both account for more than $1 billion in crypto losses.
In addition, scams are occurring in the crypto industry on an individual level. There are several incidents of traders

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Camper & Nicholsons Will Accept Crypto for Yacht Services

May 19, 2022

Camper & Nicholsons – a company that sells, manufactures, and charters luxury yachts – has teamed up with Bit Pay to permit companies and individuals in need of boating services to pay with crypto assets like bitcoin.
Camper & Nicholsons Says “Yes” to Crypto Payments
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey given the volatility that continues to drag them down.
It is

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Van Eck Seeks to Enter the NFT Market

May 19, 2022

Van Eck – a company that at this point, every diehard crypto trader and fan should know about – is entering the non-fungible token (NFT) space.
Van Eck Is Establishing an NFT Division
Van Eck made a name for itself many years ago when it became one of the first companies to try and get a bitcoin-based exchange-traded fund (ETF) approved by the Securities and Exchange Commission (SEC). The company went through heavy rigamarole trying to earn a greenlight on its application, which apparently started in the year 2017.
During that time, the SEC was completely closed minded to anything crypto related, and the company was given a resounding “no” right at the beginning. However, after several more tries, Van Eck at least got the SEC to consider its application, though

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Ajeet Khurana On the Future of Crypto in India

May 19, 2022

Ajeet Khurana is a crypto expert looking to bring positive change to the digital currency world of India.
Ajeet Khurana Discusses India’s Crypto Future
The nation has continued to have a very rocky relationship with crypto and apparently cannot decide if digital currency activity should be banned. Not long ago, Khurana offered an interview about the development of crypto in the nation and where he thinks the future of the space is headed.
Khurana started off by talking about the influence of Web3. He says that never has this kind of technology been so in demand, and he thinks it’s going to do great things for the development of assets like non-fungible tokens (NFTs). He stated:
As Web3 revolves around decentralization, it requires mechanisms of governance and

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Equinox Health Club Says “Yes” to Crypto Payments

May 18, 2022

If you’re a crypto fan and you fancy bringing your heart rate up on the treadmill or bench pressing and pumping iron, you may want to give Equinox a try. As a luxury fitness center in New York, the company recently announced it’s going to permit crypto payments for gym memberships and merchandise.
Equinox Is Allowing Crypto Payments for Memberships
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey

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Cross Tower Seeks to Make a Difference in India’s Crypto Scene

May 18, 2022

Cross Tower – a cryptocurrency exchange in India – regulates trading and investing in crypto for institutions. Not long ago, the company launched a set of over the counter (OTC) services, hoping to help high net-worth individuals to get involved in this growing space.
Cross Tower Is a Leading Crypto Exchange in India
Vikas Ahuja is the chief executive officer of Cross Tower. In a recent interview, he talked about how the company is planning to grow despite the crypto environment being so unpredictable and wild in India at the time of writing. Overall, the company is doing quite well, having seen heavy trading increases in 2022 thus far when compared to 2021, and he thinks 2023 will be the company’s biggest year yet given parliament does not move forward on a full

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Could Bitcoin Drop Another $10K? Analysts Weigh In

May 18, 2022

With the price of bitcoin dropping even further and further down (at the time of writing, the world’s leading digital asset is trading for just under $38,000), many are wondering what kind of rough factors await the crypto space.
How Much Lower Will Bitcoin Go?
2022 has been a rough year for BTC and its altcoin cousins, especially when one considers the fact that roughly six months ago, the granddaddy of all crypto was trading for about $30,000 more than where it presently is. Now that the Fed has announced plans to potentially hike rates by as much as 50 basis points, some analysts believe bitcoin could fall to around $10,000… maybe even less.
This is a very dramatic drop, though it’s not implausible to assume this could happen not only because of the volatility that

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Bentley University Students Can Pay for Tuition with Crypto

May 17, 2022

Bentley University – a private higher education institution in Massachusetts – has announced that it’s going to start allowing students to pay for their tuition with cryptocurrencies like bitcoin.
Bentley University Says “Yes” to Crypto Payments
University president E. LaBrent Chrite explained in an interview:
Bentley University is at the forefront in preparing business leaders with the skills and knowledge to succeed in the changing world economy. We’re proud to embrace this technology that our students are learning about, which will soon transform the global business landscape they’re about to enter.
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its

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Edward Snowden was Involved in the Development of Zcash

May 17, 2022

For many years, crypto traders were under the impression that someone named John Dobbertin was the elusive man behind the legendary Zcash, an anonymous form of cryptocurrency. It now looks like that name is nothing more than a pseudonym to hide the real identity of one of the coin’s main developers. That developer is Edward Snowden, the NSA whistleblower who fled to Russia in 2013.
Edward Snowden and His History with Zcash
Snowden is a former employee of the National Security Agency (NSA) that leaked highly classified and sensitive information to the public roughly nine years ago. As a subcontractor, the information he revealed had to do with global surveillance programs and methods the U.S. government was using to spy on people throughout America and the world.

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Connecticut Mansion Owner Is Selling Her House for BTC or ETH

May 17, 2022

A large, $6.5 million mansion on the coast of Connecticut is up for sale. What’s the big clincher? The seller is willing to accept cryptocurrencies like bitcoin or Ethereum, marking the first time something like this is being done in the area.
A Mansion Owner Will Sell Her House for Crypto
The property’s listing agent Kevin Sneddon affirms the media and any potential buyers that this is not a joke. The owner is serious about crypto offers, and all looking to trade their BTC or ETH in for a large mansion should come forward. Sneddon says:
It’s not like a gimmick. Not only does my client hold a lot of cryptocurrencies [but] she actively trades a fair amount of it.
The house is stationed on 4.3 acres of rural farmland which dates to the early 1800s. Thus, the mansion

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Jamestown to Accept Crypto-Based Rent Payments

May 16, 2022

Jamestown – a global real estate investment and management firm – has partnered with leading digital currency payment enterprise Bit Pay to accept rent payments in bitcoin and assorted digital currencies.
Jamestown and Bit Pay Work Together in the Name of Crypto
At the time of writing, the plan extends only to properties based in the United States, though Jamestown is hoping to expand its crypto abilities to properties in Europe as well.
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were

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Stable Corp Gets a Lotta Money to Build Canadian Digital Dollar

May 16, 2022

Stable Corp – a leading Canadian fintech firm and a partner in the development of Canada’s first digital dollar (known as Digital Deposit Receipts or DDR) – has earned more than $1.5 million in growth capital from equity partners like Circle Ventures, Genesis, and the Stellar Development Foundation.
Stable Corp Gets a Lot of New Funding
In an interview, Alex McDougall – president and chief operating officer Stable Corp – announced:
We are thrilled to welcome Circle Ventures, Genesis, and the Stellar Development Foundation to our network of partners and investors. These forward-thinking companies are some of the most sophisticated and knowledgeable organizations in the cryptocurrency ecosystem, and we are gratified that they share our vision for the central importance

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Jamie Warder on Digital Banking and the Future of Crypto

May 16, 2022

Jamie Warder – executive vice president and head of digital banking at KeyCorp’s – said in a recent interview that in the future, as all banking becomes digital, cryptocurrencies are going to play large roles in how people engage with money.
Warder Is Confident in Crypto
In a recent survey that his company conducted, it was revealed that roughly 80 percent of all Americans choose to do their banking online or through other digital means. Warder believes this has something to do with the pandemic, but he also attributes it to downright convenience. He stated:
It’s important to remember that the pandemic inspired a massive surge in digital banking adoption across the country as lockdowns were imposed. Many Americans who may have been hesitant to use digital tools before

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Jeff Wyler Automotive Engages in First Car-for-Crypto Sale

May 15, 2022

If you’re in Ohio, Kentucky, or Indiana and you fancy purchasing an automobile with cryptocurrency, you may want to stop by the Jeff Wyler Automotive Family auto center. Recently, the company completed its first vehicular cryptocurrency sale, having sold a certified pre-owned 2021 Mercedes-Benz S580 to someone in Saudi Arabia.
Jeff Wyler Automotive Sells a Mercedes for Crypto
The news is solid in that it’s pushing the goals of cryptocurrency and bitcoin closer to being achieved. For many, the idea that bitcoin or its altcoin cousins will ever be used as a payment method is growing thinner every day. Many of these assets have taken on more speculative appearances in recent months and years given that several companies absolutely refuse to accept them for payments.
This

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Dorsey, Saylor and Others Pen Letter Claiming Crypto Mining Isn’t Damaging the Planet

May 15, 2022

Several bitcoin advocates – including Jack Dorsey of Twitter fame, Tom Lee from Fundstrat, and Michael Saylor (the CEO of MicroStrategy) – have penned a letter to congressional democrats who are asking that the Environmental Protection Agency (EPA) examine the effects of crypto mining on the planet.
Crypto Mining Isn’t the Monster Everyone Thinks It Is
The letter is aimed at getting these democrats to rescind their order to have the agency look at the emissions of said mining. The idea is that crypto mining allegedly doesn’t cause all the atmospheric problems these politicians have been led to believe, and Dorsey and everyone else in the letter want to convince them otherwise.
Jared Huffman – a California democrat calling for the investigation of emissions – said in a

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Crypto Fan Elon Musk Has Purchased Twitter

May 15, 2022

Elon Musk – the South African billionaire and entrepreneur known for both Tesla and SpaceX – has purchased Twitter from Jack Dorsey. The irony of the situation is that one of the world’s biggest social media platforms is being sold by one of the largest crypto fans to one of the largest crypt fans.
Elon Musk Is Now Twitter’s New Owner
Elon Musk has sworn up and down that his ownership of Twitter will bring about a new level of free speech that many users have not been experiencing or witnessing as of late. Twitter, under Dorsey’s ownership, had a bad habit of cutting out conservatives and either suspending or downright banning anybody with Republican or right-wing leanings (such as Mike Lindell of My Pillow fame).
In testimony before Congress back in 2018 – after the

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Thieves Continue to Call the Crypto Space Home

May 14, 2022

2022 has been a rough year thus for crypto investors in the sense that bitcoin and many of its altcoin cousins have had a hard time keeping their prices stable. However, the year has also been difficult because thieves have become so prominent in the space. At the time of writing, it appears crypto thieves have stolen more than $1.2 billion in crypto funds in 2022, and we’re not even at the halfway point.
Why Are Thieves So Prominent in the Crypto Industry?
Mitchell Amador – CEO at cybersecurity auditing firm Immunefi – explained in a recent interview:
We should expect these types of [sophisticated] attacks to continue to increase, as more and more criminal organizations build defi-hacking skills in-house. Furthermore, as defi gets bigger and bigger, these kinds of

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Will Warren Buffett Ever Like BTC? Probably Not.

May 14, 2022

It’s always disappointing when someone decides bitcoin isn’t any good. No matter how much the world’s number one digital currency has accomplished in the last few years, it seems there will always be doubters, and amongst them are Berkshire Hathaway executives Warren Buffett and his vice chairman Charlie Munger.
Warren Buffett Still Hates Bitcoin
At a recent shareholder meeting in Omaha, Nebraska, Buffett was quick to strike down bitcoin and comment about how weak it was. He stated:
Whether it goes up or down in the next year, or five or ten years, I don’t know, but the one thing I’m pretty sure of is that it doesn’t produce anything. It’s got a magic to it and people have attached magics to lots of things.
He also said that bitcoin’s passive nature was working

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Switzerland Is Trying to Aid Crypto’s Growth

May 14, 2022

Switzerland is a country that’s doing all it can to aid bitcoin’s reputation. The nation is home to the town of Zug, which hosts what’s known as “Crypto Valley,” a region that takes part of its name from Silicon Valley in northern California.
Switzerland Is Doing All It Can for Crypto
While the latter is known for housing some of the world’s largest tech companies – such as Facebook, Google, and Microsoft – the former hosts several crypto and blockchain firms that are drawn to Switzerland thanks to its easy-going regulation and low taxes.
Now, Switzerland has a new division of its federal government working to ensure the crypto space moves in the right direction. Nino Landerer – head of capital markets and infrastructure at the State Secretariat for International

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New York Mayor Eric Adams Wants to Toss the BitLicense

May 13, 2022

Eric Adams – the mayor of New York City – has suggested doing away with the dreaded BitLicense as a way of allowing New York to become more competitive in the crypto and blockchain worlds.
Will New York Get Rid of the BitLicense?
The BitLicense was first introduced in 2014. The document made things very hard for crypto companies seeking to establish presences in the Big Apple. It also made it very difficult for them to gain customers. Under the BitLicense, things became rather complicated, with crypto companies having to submit mounds of paperwork and pay heavy fees just to retain offices in NYC.
Thus far, very few crypto companies have obtained BitLicenses as a means of keeping their New York operations intact. Gemini is one example, but many crypto exchanges –

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