Tag Archives: AA News

The Diem Association – a cryptocurrency initiative backed by Meta – is reportedly considering the sale of its assets to return capital to its investors. The project is also in discussions with investment bankers about how best to sell its intellectual property and help the developers find new places to work. Diem Might Sell Its Assets During its relatively short time of existence, Diem has sparked some controversy. Established in 2019 under the name Libra, it aimed at...

NYC-based entrepreneur Dan Reich has recently regained access to more than $2 million worth of crypto left in a Trezor One hardware wallet with the help of renowned computer engineer and hardware hacker Joe Grand. In a YouTube video uploaded recently, the Portland-based hacker popularly known by his pseudonym “Kingpin” gave a comprehensive narration of how he cracked the wallet to recover the “lost” crypto assets. How it all Started Earlier in 2018, Dan Reich and his friend...

The Founder of SkyBridge Capital – Anthony Scaramucci – advised investors to cool off on their concerns regarding the most recent plunge in the cryptocurrency market. He believes bitcoin, as well as other digital assets, are the right investment tools for the long-term, and people should not abandon them because of their current price dips. ‘Stay Long’ The last several days were not pleasant for the cryptocurrency industry, as many assets lost a significant chunk of their USD...

Arthur Hayes – co-founder of BitMEX – just gave an interesting Bitcoin price forecast in his bi-weekly analysis. Despite his expectations that the Federal Reserve won’t raise interest rates, he still doubts Bitcoin’s bottom will arrive until a $28,500 retest. Calling the Fed’s Bluff In BitMEX’s latest post from Crypto Trader Digest titled “Bottomless,” the former CEO extols cryptocurrencies as the “last free market on earth”. He explained that due to “wanton” money printing,...

A research team of the American investment management firm ARK Invest envisioned a highly optimistic future for bitcoin. According to them, the price of a single coin could surpass $1,000,000, and the asset’s market capitalization might reach $28.5 trillion by 2030. Bitcoin to Peak at Over $1 Million The Nasdaq-listed company ARK Invest, led by Catherine Wood, has been an advocate of the cryptocurrency industry for a while, especially bitcoin. In July last year, the...

The top monetary watchdog of Indonesia – the Financial Services Authority (OJK) – reportedly prohibited local companies from using, offering, or facilitating cryptocurrency services. The regulator believes dealing with bitcoin and the altcoins is risky due to their enhanced price fluctuations. Crypto Is Under Crossfire in Indonesia The authorities of the Asian country have displayed a hostile stance towards the cryptocurrency industry over the past several months. In November...

The Bank of Thailand (BOT), Securities and Exchange Commission (SEC) and Ministry of Finance (MOF) have jointly decided to regulate the use of cryptocurrencies as a medium of exchange. They cite threats of financial instability and crime as primary justifications. Strictness On Crypto BOT announced its regulatory decision in a press release earlier today. It begins by recognizing how digital asset companies are expanding the functionality of cryptocurrencies as a medium of...

Despite the multiple outages that the Solana network suffered in recent months, FTX CEO Sam Bankman-Fried (SBF) believes the high-performance blockchain is still better than other networks in the industry. The latest Solana network outage happened on Friday and lasted for more than 48 hours, causing DeFi users who borrowed funds from lending platforms to suffer forced liquidation. According to Solana’s team, Friday’s incident resulted from “excessive duplicate transactions”...

Amid surging interest in cryptocurrencies, the legendary American investor and founder of the investment management firm Bridgewater Associates, Ray Dalio, opined that the crypto industry is receiving way too much attention. Too Much Attention on Crypto During his latest interview on “The David Rubenstein Show: Peer-to-Peer Conversations,” Dalio claimed that he has only a “tiny” amount of crypto in his investment portfolio. Recall that earlier in May 2021, the billionaire...

The International Monetary Fund (IMF) recently urged El Salvadoran authorities to remove Bitcoin’s legal tender status. They called it a threat to market integrity, financial stability, and consumer protection. Criticizing the Bitcoin Law The IMF publicly revealed its warning in a website statement earlier today, after concluding its Article IV consultation with El Salvador on Monday. Despite noting the country’s speedy post-pandemic economic recovery, it still cited...