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Nick Marinoff



Articles by Nick Marinoff

Congress Really Wants to Regulate Crypto After FTX

1 day ago

With FTX filing bankruptcy and Sam Bankman-Fried now leaving the throes of his once-great company, Congress and the elites in Washington are once again turning up the volume on their arguments for regulating the crypto space.
Congress Is Coming After FTX
There have been far too many accidents this year in the world of crypto. With companies like Celsius suddenly halting withdrawals and then filing for bankruptcy and assets like the Terra Luna (allegedly) stable coin crashing to the ground, many members of Congress are hoping to instill proper regulations to ensure people remain protected and that their investments are not tampered with.
This latest news surrounding FTX is making more members of Congress join the “we need crypto regulation” fight. The irony of the situation is that

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El Salvador Says It Has No Ties to FTX

1 day ago

A rumor was swirling around online that the nation of El Salvador in Central America had tons of bitcoin locked away in the FTX exchange, which has now filed for chapter 11 bankruptcy. However, many industry heads – including Changpeng Zhao of Binance, the company that at one point was likely to purchase FTX and save it from its present string of problems – are saying this is not true, and that the country is not in any danger.
El Salvador Says It’s Not Tied to the Failed Exchange
El Salvador is a rare region in that it has banked everything on digital currency over the last year. Initially labeling bitcoin legal tender in September of 2021, it was announced the world’s number one digital currency by market cap could be used alongside assets like USD to purchase everyday goods and

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What Will Happen Now That FTX Is Bankrupt?

1 day ago

FTX, one of the world’s biggest and most popular digital currency exchanges, has filed for bankruptcy. This was abruptly followed by the formal resignation of the company’s founder and head executive Sam Bankman-Fried.
FTX Has Fully Gone Under
The company has been in hot water for the past several weeks. FTX experienced what’s been referred to as a “liquidity crunch” and initially sought the aid of its main rival Binance to bail it out of the dark hole that had been created for it. It appeared – at least for a while – that the larger firm was going to purchase the smaller one and become even more powerful in the long run, though this wasn’t to be.
Binance put out a statement saying that it was backing out of the deal as the problems swarming FTX were too big and too complicated for it to

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Warren Buffett Explains His Hate for Bitcoin

2 days ago

Bitcoin has had its worst year to date, and Warren Buffett – the billionaire investor and CEO behind real estate giant Berkshire Hathaway – is laughing in all our faces right about now.
Warren Buffett Really Hates Bitcoin
Buffett has never supported bitcoin. In fact, he’s said some rather negative things about it. Discussing crypto assets in 2018, he said:
They will come to a very bad ending.
He also made it clear that he had no intention of owning any form of crypto, stating in early 2022:
If you… owned all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it.
In the long run, Buffett doesn’t see much value to BTC and claims it’s not a productive asset. In the year 2020, he stated that cryptocurrencies do not have any real value in that they don’t lead to any

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Bandesal Bank in El Salvador Won’t Discuss BTC Activities

2 days ago

Bandesal – a traditional bank in the nation of El Salvador – is refusing to discuss with reporters how the country is spending its bitcoin funds. It will not provide any data regarding how the country is maintaining its bitcoin purchases, nor will it say where the money is going or how it’s being stored, claiming that data is “confidential.”
Bandesal in El Salvador Is Staying Quiet
The Anti-Corruption Legal Advisory Center (ALAC) is condemning the bank and El Salvador for not being transparent about their business dealings, claiming much of it has to do with the use of public funds. In a statement, the organization said:
The confidentiality limits the possibility for citizens to access and receive information on the operations carried out with public funds by Bandesal.
Some reports are

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Coin Check Wants a Stock Exchange Listing

2 days ago

Crypto exchange Coin Check is looking to follow in Coinbase’s footsteps and wants to be listed on the Nasdaq. The firm is aiming to complete a merge with a special acquisition company by July of next year so it can be listed on the stock exchange.
Coin Check Wants to Be Like Coinbase
Coinbase – the western world’s largest and most popular cryptocurrency exchange – started a trend in April 2021 that many new companies apparently want to copy. The company got itself listed on the Nasdaq, becoming the first crypto exchange to do so, and began offering stock shares to retail investors in the U.S. and anywhere else in which people wanted to put their money into the growing company.
While things ultimately began on a strong note, it appears they’ve come to a standstill, as Coinbase has

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Crypto Fan Elon Musk Now Fully Controls Twitter

3 days ago

Crypto bull Elon Musk now officially owns Twitter. As one of the largest and most powerful social media platforms in the world, the deal cost approximately $44 billion, which is probably a drop in the bucket for the world’s richest man.
Twitter and Musk… The Perfect Match?
One of the first orders of business was to fire Twitter’s CFO Ned Segal and its chief executive Parag Agrawal, who took over when initial CEO Jack Dorsey announced his resignation last November. Musk is now the official CEO of the company and is taking it private, meaning all stock trading will be suspended. It’s not entirely clear who will replace Segal at the time of writing.
Musk was also quick to let go of Vijaya Gadde, the company’s legal and policy executive, along with Sean Edgett, the general counsel for

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Is Crypto Volatility Over for 2022?

3 days ago

Over the past few weeks, many crypto analysts have claimed that the prices of the world’s largest and most mainstream assets have become “boring” in many ways. Bitcoin, for example, has seen a real dip in its volatility over the past month or so, and the asset continues to hover at around $20K. Sometimes it’s slightly up and sometimes it’s slightly down, but the range has remained relatively consistent.
Could Volatility Finally Be Standing Still?
This has been the sentiment for some time, though now these same crypto analysts believe the industry is going to endure a serious shakeup, and prices could experience higher levels of volatility than what traders have seen. In reaching the end of the year, many are under the impression that the Fed is going to hike rates once again, and another

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Buterin: It’s Not the Time for a Crypto ETF

3 days ago

Vitalik Buterin – the man behind Ethereum, the world’s second largest digital currency by market cap and the number one competitor to BTC – has announced that he doesn’t think right now is the best time for a crypto-based ETF (exchange-traded fund).
Vitalik Buterin: It’s Not the Time for a Crypto ETF
To be fair, such a product already exists. It was introduced by Pro Shares during autumn of last year, and it stirred heavy controversy by being based on futures technology rather than actual spot trading (aka physical bitcoins). There were several traders and analysts out there that claimed the product was inferior given that future technology was not as strong as legitimate spot trading.
They also took issue with the fact that while the product was approved by the Securities and Exchange

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Upbring Uses Crypto to Aid Underserved Children in Texas

4 days ago

Upbring – a nonprofit organization based in Austin, Texas – has stated it’s going to be using crypto and blockchain technology to help more than 11,000 kids in the Lone Star State.
Upbring Is Looking to Help Texas Kids
Upbring provides three main services: education, resettlement, and foster care. The group seeks to provide aid and assistance for underprivileged children in the region and prevent them from being exposed to danger and unhealthy scenarios. In other words, it wants to make child abuse a thing of the past. At the time of writing, there are 75 locations in the state of Texas hosted by Upbring.
President and CEO Michael P. Loo says he’s currently utilizing the services of five laboratory workers to explore how new forms of technology can help boost the company’s goals and

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Dogecoin Is Now a Much More Powerful Token

4 days ago

In late October, Dogecoin – a popular meme cryptocurrency – overtook Cardano’s ADA token to become the sixth largest digital currency around.
Dogecoin Suddenly Surges Through the Ranks
Dogecoin has some odd history behind it. Co-created by Jackson Palmer, the currency was created as a means of bringing the digital currency community down. It was built to make fun of those who swore by crypto, yet it somehow aroused lots of popularity and attracted heavy attention from big-name tech conglomerates like Elon Musk of SpaceX, Tesla, and now Twitter fame.
Musk has always been a huge fan of Dogecoin, going so far as to call it the “people’s crypto.” He has often shown favor for Doge over bitcoin and has listed it as a payment option for some of his other companies while revoking one’s

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El Salvador and Switzerland Are Working to Boost Crypto Adoption

4 days ago

El Salvador in Central America is joining hands with the Swiss city of Lugano in the name of bitcoin. Both areas have vowed to push bitcoin education and adoption in their regions and see about implementing bitcoin use tools in neighboring countries.
El Salvador and Switzerland Are Working Together
Both regions have proven to be major bitcoin advocates in recent years. El Salvador initially made bitcoin legal tender in September of last year. The country initially experienced heavy resistance from organizations like the World Bank, which stated it would not be aiding the nation’s bitcoin agenda given the digital asset was too volatile, and thus couldn’t be taken seriously.
Nevertheless, El Salvador worked past this resistance and the many technical issues its Chivo wallet system endured,

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Crypto Firm Core Scientific Says It’s Considering Bankruptcy

5 days ago

Core Scientific – one of world’s biggest publicly traded crypto mining firms – has announced it is considering bankruptcy protection as its stock has fallen by over 90 percent since the beginning of the year. The company has also stated it’s not likely to make any upcoming debt payments.
Core Scientific Says It’s Thinking About Bankruptcy
Core Scientific has been in trouble for some time. Not long ago, the firm mentioned it was going to release more than ten percent of its staff as a means of dealing with the ever-falling crypto space. CEO Mike Levitt mentioned at the time that the crypto mining scene was changing rapidly. He commented:
A lot of folks that don’t have a home for their mining equipment also don’t have capital… In the good old days, we used to be a reseller of servers, and

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AMG Says “Yes” to Crypto Payments

5 days ago

American Marketing Group (AMG) has announced it’s now allowing all the travel companies it does business with to accept cryptocurrency payments through its booking platform Trip Xpress.
AMG Is Opening Itself Up 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 extremely hard to understand when bitcoin and its crypto

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Brian Armstrong Says He Was Wrong About BTC

5 days ago

In a recent interview, Brian Armstrong – the CEO of popular digital currency exchange Coinbase – commented that he “overestimated” bitcoin as a hedge against inflation, and he’s learning now – like so many other traders – that bitcoin is not yet ready or mature enough to handle the hard-hitting economic factors that the country has been facing over the last year and a half.
Brian Armstrong Says He was Incorrect About Crypto
In a podcast discussion, Armstrong commented:
Frankly, I’ll admit, I overestimated the chances that bitcoin would be this inflation hedge in this macro environment. I thought it might draw more attention to bitcoin in this kind of environment, but it looks like we’re a little too early.
Armstrong continued with:
Typically, in down macro environments, we see there’s a

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Analysts Say Bitcoin Has Become “Boring”

6 days ago

For the last several months, the volatility of bitcoin appears to have calmed down somewhat. The world’s number one digital currency by market cap has, to one degree or another, been hovering around the $20K mark for some time, and while there are little moments here and there when it goes up or down, the range appears to be relatively consistent.
Bitcoin Volatility Has Remained Relatively Still
With all this in mind, it appears bitcoin trading has become rather “boring” as of late. This is the word some analysts have used to describe bitcoin and its present state of being, and some argue this isn’t necessarily a bad thing.
The idea that bitcoin’s volatility is dying down somewhat suggests, according to several industry heads, that the asset has finally bottomed out. What has been an

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Crypto Mining Companies Really Have It Hard

6 days ago

The crypto mining sector is falling apart, and miners are being hit from all angles at the time of writing.
Crypto Mining Is Beginning to Crash and Burn
To be fair, the prices of many mainstream digital assets – such as bitcoin, the world’s number one digital currency by market cap – have remained relatively still over the past few weeks. While things are nowhere near as solid as they were a year ago, volatility has remained relatively low in the autumn and winter months compared to where they were in the summer. Bitcoin continues to hover at around $20K for the most part, so it’s not really prices that are hurting miners in the long run.
However, while prices for digital assets are remaining somewhat still, the same cannot be said for energy prices, which continue to spike in recent

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The RBI Is Getting Its Digital Rupee Ready

6 days ago

The Reserve Bank of India (RBI) has unveiled its new pilot program that will see various consumers testing out the latest version of its digital rupee. A CBDC (central bank digital currency), the digital rupee is slated to be used for purchases of goods and items amongst everyday residents.
The RBI Is Boosting the Use of Its Digital Rupee
Pratik Gauri – co-founder and CEO of 5ire, a blockchain company – explained in a recent interview:
I believe blockchain and decentralization are necessary for the success of CDBC. In my opinion, what RBI should aspire for is to build a transparent and robust digital infrastructure.
The interesting news is that the RBI initially announced the pilot program in a note on October 7, though it did not begin initiating the pilot program until Halloween

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Pick n Pay Opens Its Heart to Crypto Payments

7 days ago

Pick n Pay, a grocery retail outlet, has said “yes” to crypto payments and will now allow customers to pay for their items with assets like bitcoin and Ethereum.
Pick n Pay 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 extremely hard to understand when bitcoin and its crypto family will go up or down when

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Sixx King Uses Crypto to Get His Movies Off the Ground

7 days ago

Sixx King – an African American filmmaker and the founder, chairman, and CEO of Sixx Degrees Media – has teamed up with actor and film producer Sebastian Kahuna to establish new high-quality films funded by cryptocurrency.
Sixx King Thinks BTC Can Be Used for Producing Films
He believes there are many barricades in the way of black filmmakers trying to get their projects off the ground. He says it can be quite difficult to get projects funded, and thus he’s turning to digital assets to get the job done. In a recent interview, King discussed his motivation to utilize crypto for funding future movies and art-related projects:
I had a clear vision that funding films with crypto would add a layer of tangibility to them that could be understood by most. However, my chance meeting with actor

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Bitcoin Officially Turned 14 in October

7 days ago

Bitcoin turned 14 on Halloween this year.
How Far Has Bitcoin Come?
Back on October 31, 2008, Satoshi Nakamoto – the pseudonymous creator of the world’s largest and most powerful digital currency by market cap – sent the whitepaper for the new anonymous financial system to emails across the world. In the paper, Nakamoto wrote the following:
What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
At the time of the whitepaper’s arrival, the world was going through a tough financial situation. The Great Recession was in full swing. Countries everywhere were seeing their economies tank faster than the RMS Titanic. Banks were flopping, and

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24 Exchange and Talos Join Hands to Offer Crypto Trading to Institutions

8 days ago

Crypto trading platform 24 Exchange has joined hands with a network called Talos, which is a provider of digital asset trading technology. Together, they are giving customers access to new forms of crypto-based liquidity that will allow them to engage in quick and easy transactions and financial settlements.
24 Exchange and Talos… The Perfect Match?
Dmitri Galinov – the CEO and founder of 24 Exchange – commented in a statement:
By integrating into the growing Talos partner network, 24 Exchange will provide Talos customers with enhanced access to digital asset trading opportunities and increased liquidity. Expanding access to Crypto Spot trading is a key component of 24 Exchange’s growth strategy, and we are pleased to achieve that while also delivering a new liquidity

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Bitfinex Hack Victims Are Still Waiting to Get Their Funds Back

8 days ago

Earlier in the year, the Justice Department announced it had seized billions in crypto funds from a heist that occurred in 2016. Many customers of Bitfinex had their money stolen during that heist, and they learned that approximately $70 million of the recovered funds were likely theirs.
Funds Stolen from Bitfinex Have Not Yet Been Returned
One such victim – Frankie Cavazos – said he lost about 15 BTC units from the 2016 attack. Upon hearing that his money had been recovered, he commented:
It was the biggest relief of my life.
He said the money he stood to get back could be a “life-changing amount of money” as the units stolen in 2016 amounted to less than $1,000 each. Today, while the price of bitcoin may be crashing and burning, there is still a significant rise in

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Stockpile Is Helping Kids Invest in Crypto

8 days ago

A company called Stockpile – which is billed as the “simplest way” to invest in stocks – is looking to introduce kids and young people to crypto investing. The company’s executives feel it’s never too early to start learning about proper investing methods, and they think getting kids on the right track early will not only assist them, but ensure the world is in a stronger place from a financial perspective.
Stockpile Wants to Bring Kids and Crypto Together
The thinking makes sense in a lot of ways. There have been many programs and individuals out there that believe kids – being that they’re the future leaders of this country and the world – should know about crypto early given its likely the future of money and getting stronger with each passing year. One example

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Elon Musk Is Still Holding onto Some BTC

9 days ago

Elon Musk has not always been the kindest person to bitcoin. He has made unfair judgements about it in the past, and when it comes down to it, it seems he’s a much bigger fan of some of its altcoin cousins, i.e., Dogecoin, than he is of the currency that started it all, and yet despite all this, there still seems to be some love in the mix.
Elon Musk Hasn’t Gotten Rid of All His BTC
It has come out that Tesla – the electric vehicle company owned and run by Musk – is still holding some bitcoin; approximately $218 million or so. This is interesting because it was made clear several months ago that Musk and Tesla had sold quite a bit of their bitcoin holdings after the price began to tank. The company had purchased roughly $1.5 billion worth of the asset during the early

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Poll: Residents of El Salvador Aren’t Into BTC

9 days ago

According to a new survey, many residents of El Salvador consider the bitcoin experiment implemented by their country’s leaders a failure.
El Salvador and Bitcoin… Will They Break Up?
The poll was conducted by the University of Central America. Roughly 75 percent of the survey participants said they have not used any cryptocurrency throughout 2022. A total of 77 percent of the participants flat out said that they don’t feel implementing bitcoin as legal tender was a worthwhile idea. They say they were perfectly fine just using USD.
It’s a shame when one really considers these results. El Salvador likely had the most noble of intentions: to give its people full financial independence, and what better way to do that than through bitcoin? Up to that point, the country

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For Biden, Crypto Is Just a Tool for Spying on People

9 days ago

Not long ago, an article emerged claiming Biden is using the crypto space to spy on people.
Biden Is Using Crypto to See What People Are Doing
The article said the government was “chipping away” at people’s financial freedoms and doing little to let them know what was going on. Financial privacy is clearly suffering under this administration, and it’s plausible to assume few people realize what’s happening.
There are several things one can say to this, the first one being “Duh!” in fat, bold letters. For anyone who thought Biden was going to do anything straightforward or even right as president, they’re likely learning their lesson the hard way right about now. When your big claim to fame is a 90s crime bill that’s responsible for the incarceration of more people of

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Nearly 100 Customers Sue Coinbase Over Its Wallet App

10 days ago

Coinbase is in hot water after close to 100 customers have filed lawsuits against the western hemisphere’s largest digital currency trading platform.
Customers Are Angry with Coinbase
These customers are accusing Coinbase of turning a blind eye to a scam that ultimately cost them more than $21 million in digital currency funds. The problem stems from the Coinbase Wallet, which last fall, directed users upon being downloaded to fraudulent or phony websites that allowed scammers and hackers to take control of their accounts and move their digital assets into wallets they owned.
At press time, due to the terms and conditions enforced by Coinbase, none of the lawsuits in question have resulted in defendants or plaintiffs going to court. Rather, everything is being handled

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Lionel Messi to Work with Crypto Platform Bit Get

10 days ago

Argentinian soccer player Lionel Messi has teamed up with a digital currency company called Bit Get. Based in Singapore, the firm will allow fans of the Paris Saint-Germain team – which Messi plays for – to trade digital assets and explore the growing world of web3.
Lionel Messi Travels Deeper into the Crypto Space
Few details have been announced regarding the deal, though it has been signed ahead of the 2022 FIFA World Cup which is set to take place in Qatar. This will be Messi’s fifth appearance at the event. Gracy Chen – the managing director of Bit Get – explained in a recent interview:
We try to reflect the diversity and richness of our platform community in the partnerships we choose. We open web 3.0 to sports fans. They open the field to crypto traders. As the

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Crypto Lending Platform Freeway Halts Customer Withdrawals

10 days ago

It’s happened again, folks. Another digital currency exchange has decided to halt all withdrawals, thus preventing its customers from gaining access to their assets. This time around, the company in question is staking platform Freeway, which says one of its trading strategies has failed miserably. This is the reason it’s cited for its recent halting of customer withdrawals.
Freeway Prevents Customers from Accessing Their Funds
This has been a common theme in the crypto space over the past several months, though to be fair, this is the first time where a company appears to be blaming itself for the outcome. Freeway is saying one of its investment strategies didn’t work. In most other cases, the companies that engaged in withdrawal halts said they did so because of

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