Tag Archives: AA News

The Singaporean private banking arm of OCBC Bank has dismissed the chances of cryptocurrencies eventually replacing fiat currencies as a medium of exchange. However, the large institution believes that BTC and other altcoins can replace gold in terms of serving as a store of value.Cryptocurrencies: Store Of Value; Not Medium Of ExchangeEver since the introduction of Bitcoin in the late 2000s, people have wondered if the cryptocurrency could indeed live up to the potential of operating as an...

China will launch another major test for its digital currency, the digital yuan, in January. Local reports affirm that Sichuan’s capital Chengdu will be the next hotspot for the consequent tryout of the nation’s future virtual asset.The Local Government Giving Away $4.6M Worth of CBDCAccording to a recent media report by mobile payment network Mpaypass, the capital of the Chinese province of Sichuan, Chengdu, will be the next area, which will test the efficiency of China’s digital yuan....

The leading cryptocurrency asset manager, Grayscale Investments, has donated $1 million to the non-profit think tank focused on public privacy in the crypto ecosystem – Coin Center. Additionally, Grayscale has vowed to match every other donation up to $1 million through February 2021.Grayscale Donates $1M To Coin CenterBased in Washington, DC, Coin Center is a non-profit research and advocacy center aiming to resolve public issues within the cryptocurrency field and decentralized computing...

2021 has so far been an exciting year in the cryptocurrency market. We saw its capitalization surpassing $1 trillion for the first time in history.And while a lot of it had to do with Bitcoin’s surging price, over the last few days, it’s becoming evident that altcoins are claiming their share, causing many to believe that we’re in a state of the market known as “altcoin season.”Altcoin Season 2021: It’s Just BeginningAn “altcoin season” is a term used to describe a market condition where...

Several weeks after signing legislation that required Russian officials to disclose their crypto holdings, the world’s largest country by landmass has gone a step further by prohibiting them from owning any digital assets. The Ministry of Labor and Social Protection of the Russian Federation has sent a letter to civil servants regarding their cryptocurrency holdings, according to Forklog coverage. It reads that such officials have until April 1st, 2021, to get rid of their digital asset...

Bitcoin will have a hard time reclaiming $40,000 as the inflows towards the Grayscale Bitcoin Trust (GBTC) have reduced in the past few weeks, argued strategists from the giant US multinational investment bank – JPMorgan Chase & Co.Inflows Towards GBTC Not Enough To Push BTC HigherJPMorgan analysts, led by Nikolaos Panigirtzoglou, have highlighted the role of Grayscale in terms of BTC adoption and price development.Simultaneously, they have reasoned that if the inflows from institutional...

Bitcoin has matured as an asset in the past few years and is now a safe investment such as gold and bonds, said SkyBridge Capital’s Anthony Scaramucci and Brett Messing.In a recent joint post, the duo also highlighted BTC’s intangibility as significant merit, which outlines bitcoin’s uniqueness.BTC Is As Safe As Gold And BondsAnthony Scaramucci, the co-founder of the large Wall Street investment company SkyBridge Capital, and the firm’s president and COO, Brett Messing, published an...

Amid the renewed anti-Bitcoin remarks ascribed to mainstream finance stakeholders, reports have emerged showing banks in Australia working in cahoots with violent South American cocaine cartels. Despite aspersions to the contrary, the crypto market continues to account for an insignificant proportion of global financial crimes.Australian Banks Funelling Dirty Money for Drug CartelsAccording to the Australian Financial Review, banks in the country have reportedly laundered about 500 million...

Bit Digital – a NASDAQ-listed company, is to face a class-action lawsuit. A recent report by J Capital Research alleged the Bitcoin mining firm in “fake cryptocurrency business.”Impossible to Operate 22,869 Bitcoin Miners in ChinaBitcoin mining company Bit Digital is facing a class-action lawsuit on allegations of fraud and misleading its clients. According to an official court document filed in the Southern District Court of New York on Thursday, by plaintiff Anthony Pauwels, the case seeks...

Ethereum’s fundamentals and network utilization will push the price of the native cryptocurrency to a five-digit price territory, believes a popular cryptocurrency commentator. Although this potential surge by eight-fold from this position could sound far-fetched to some, Fundstrat strategists recently offered a similar prediction.ETH’s Fundamentals Raise A $10K Opportunity?Ethereum’s native crypto has been on a tear in the past several months. After gaining about 500% in 2020, the...