Tag Archives: Bitcoin News

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The European Central Bank has issued a statement claiming that bitcoin is on its way out and closely approaching “irrelevance.” The European Central Bank Is not a Bitcoin Fan The financial institution released a blog entitled “Bitcoin’s Last Stand” that details the fall of the world’s number one digital currency. Interestingly, the bank does not refer to FTX and its November collapse as the reason as to why bitcoin is doing so poorly. Rather, it hints that bitcoin was on...

When it comes to risky assets like crypto, Singapore banks are no longer required to hold 1:1 in collateral, but rather 1.25:1. What this means is that for every $1 in cryptocurrency, a financial institution needs to hold $1.25 in regular cash. This is designed to ensure there are enough reserves in place to cover losses or other problems should the crypto industry decide to crash and burn all over again. Singapore Is Trying to Stop Future Crypto Problems 2022 was one of...

Republican Senator of Wyoming Cynthia Lummis says what happened with FTX is exactly why Congress needs to begin paying attention to cryptocurrency. She cited the bipartisan bill she established in early 2022 with New York congresswoman Kirsten Gillibrand (a democrat from New York) and said U.S. regulators need to give the bill their full attention so that what happened with the exchange can never happen again. Cynthia Lummis on the Future of Crypto in Congress Lummis is...

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Tom Lee of Fundstrat fame believes that what happened with the now disgraced crypto exchange FTX should not reflect on bitcoin or the industry in general. He still believes in the power of crypto and doesn’t think the arena should suffer because of what a few bad actors have done. Tom Lee on Bitcoin and FTX In a recent interview, Lee commented that the current bear run the crypto space is enduring is similar with the one it experienced in 2018. He said that bear run came...

Tiantian Kullander – the founder of digital currency firm Amber Group – is alleged to have passed away in his sleep on November 23 according to a statement from the company. Tiantian Kullander Has Passed On Kullander launched the enterprise in 2017. At the time of his death, the firm was valued at more than $3 billion and was in the process of garnering another $100 million. The company was composed of several workers who spent time in the traditional finance sector,...

Bitcoin price started a recovery wave above the $16,500 support against the US Dollar. The price is now trading above $16,500 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $16,780 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could rise further if it clears the $17,000 resistance zone. Bitcoin price is recovering above $16,500 against the US Dollar. BTC might extend its...

Matrix Port – a crypto services provider – believes it’s time for all crypto custody firms and related businesses to begin offering insurance to digital currency customers. Matrix Port Wants Crypto Insurance Offered Everywhere The belief stems from the recent fall of disgraced crypto exchange FTX, which took less than a week to crash and burn. Despite being only three years old, FTX (which began in 2019) rose through the ranks rather quickly to become one of the biggest...