Tag Archives: AA News

Blockchain Capital remains a major tech backer in the DLT space with investments in numerous crypto and DLT projects. Fund V with $300M Funding According to a press release published on Monday (June 22, 2021), Blockchain Capital has closed funding for its Fund V LP. The capital raise reportedly drew participation from several high-profile backers including global payment giants Visa and PayPal. Capped at $300 million, Blockchain Capital’s latest fund was oversubscribed likely...

Iranian authorities have confiscated about 7,000 cryptocurrency mining machines. The latest development is in line with Iran’s crackdown on illegal bitcoin mining activities. According to Reuters on Tuesday (June 22, 2021), General Hossein Rahimi, Tehran police chief, revealed that the computer miners were found at an abandoned factory in Iran’s capital, which was used to carry out illegal cryptocurrency mining activities. The latest seizure is the largest ever carried out by...

Jan van Eck, the CEO of the giant investment manager, VanEck, has asserted that the firm’s customers have a growing appetite for a Bitcoin ETF. This comes amid the company’s frequent attempt to have an exchange-traded product approved in the US. During a recent interview with CNBC, van Eck spoke about the company’s plans to enter the cryptocurrency space through an exchange-traded fund that tracks the performance of bitcoin. The firm has already filed for a few such ETFs. It...

The consequences of the nationwide Chinese crackdown on Bitcoin mining are more than evident in a few short weeks. The hashrate has dropped dramatically by nearly 50% from its peak, the number of daily issued coins has declined, and the Puell Multiple has reached a multi-month low. The Effects of the Chinese Crackdown Although Bitcoin has been banned in China for years, the Asian Superpower doubled down on its stance just recently. It went further this time by ordering...

Things in the cryptocurrency market are looking increasingly bad as the price for bitcoin just crashed below $30,000. Bitcoin’s price is currently trading below $30,000. This hasn’t happened in months as the last time we saw these levels was in January 2021. BTC/USD. Source: TradingViewOther cryptocurrencies are also following suit with most of the altcoins charting double-digit declines on the weekly. This has also led to almost $800 million worth of liquidated positions...

Now, on-chain analytics and reports from fund managers are showing significant Bitcoin outflows amid continued crypto restrictions in China. Multiple Bitcoin Bear Market Signals In its weekly report for the period ending June 21, 2021, published on Monday, digital asset investment outfit CoinShares revealed $79 million in outflows from institutional crypto investment funds. This report marks the third consecutive seven-day period to see a negative balance on the flow of...

The American racer Stefan Parsons crashed with his Dogecoin-sponsored car at NASCAR. Interestingly, the accident of the Chevrolet Camaro coincides with the recent collapse of DOGE’s price. DOGE’s Car Couldn’t Finish NASCAR Xfinity Series Race in Nashville presented to the American fans another spectacle. Unfortunately, the 22-year-old Stefan Parsons couldn’t reach the finish as he crashed his Dogecoin-sponsored Chevrolet Camaro. Because of the accident, the car finished...

A few weeks after China started its nationwide crackdown on Bitcoin mining, new reports have confirmed the speculations that at least some miners will look to transition to the US. The most recent one indicated that three tons of mining machines will move from Guangzhou to Maryland. BTC Miners: From China to the US The world’s most populated nation strengthen its grip on Bitcoin mining in May this year after reiterating its ban on operating with BTC and other digital assets....

Michael Saylor’s business intelligence giant now owns over 100,000 bitcoins after the company purchased another chunk of 13,005 BTC for nearly $500 million. Consequently, the firm now has 0.5% of all bitcoins ever to exist. The founder and CEO of the NASDAQ-listed company announced the latest purchase earlier on June 21st. It came after the firm raised $500 million through an offering of senior secure notes, as reported earlier. MicroStrategy has purchased an additional...

The Chinese crackdown on crypto continues to escalate with a new statement from the nation’s central bank banning more banks and payment providers from interacting with digital assets. CryptoPotato reported today that one of the country’s largest banks, the Agricultural Bank of China, had prohibited its clients from doing business with anyone even remotely connected to the crypto space. Although that had an immediate adverse effect on the market, with prices starting to...