Tag Archives: social

U.S. Senator and chairman of the Senate Banking Committee, Sherrod Brown (D-OH), spoke on Sunday about what actions regulators need to take after the implosion of FTX.  He suggested that crypto may be something that “ought to be banned” if not for the risk of sending the industry offshore.  Banning Crypto Speaking with NBC’s Chuck Todd on Meet the Press, Brown agreed that Sam Bankman-Fried – FTX’s former and disgraced boss – used political favor and donations to create an...

The number of bitcoin automated teller machines (ATMs) has surged in accordance with the development of the cryptocurrency industry. The first such machine saw the light of day in October 2013. Needless to say, the industry has expanded by leaps and bounds since then, propelling massive interest and, in turn, more ATMs.  Currently, there are 39,678 such devices spread across 84 countries, with over 85% located in the United States of America. An Overlook of the Map...

Scott Minerd – CIO and Chairman of Guggenheim Partners – believes the demise of crypto exchange FTX will cause more problems for companies and investors. He reiterated his stance that market crashes could be beneficial for the industry because they could eliminate meaningless projects. Buckle up for More Trouble According to Minerd, the domino effect that the FTX bankruptcy triggered might continue in the near future affecting other entities: “There’s another shoe to drop – I...

Sam Bankman-Fried – the former CEO of defunct crypto exchange FTX – will supposedly reverse his decision to contest extradition to the US. According to a Reuters report, SBF will appear before the court in the Bahamas on Monday, December 19. Bankman-Fried is currently held at a correctional facility in the Bahamas following his arrest on December 13. He faces multiple charges, including criminal, and is being investigated by the DOJ, SEC, and the CFTC. It was previously said...

Over the past day, the total cryptocurrency market capitalization managed to recover a few billion, but the overall market saw no considerable volatility, and volume is drying up. Some altcoins managed to pull ahead, but the broader sentiment remains fearful. Bitcoin Struggles Below $17K Bitcoin’s price was unable to hold above the $17K level yesterday and dropped to a low of $16,527 on Binance. The cryptocurrency has failed to recover and is currently trading at around...

Amber Group – a cryptocurrency platform backed by Singapore’s investment company Temasek – completed a $300 million funding round. The money will be distributed to clients affected by the FTX collapse.  The company, which had to cope with severe issues due to the ongoing bear market, recently acquired the Singaporean exchange – Sparrow Holdings. Trying to Reimburse Victims As announced on Twitter, the Series C fundraiser was led by Fenbushi Capital US. Amber Group said the...

One of the most successful soccer clubs in Europe – FC Barcelona – inked an agreement with the cryptocurrency platform WhiteBIT. Тhe trading venue will serve as the Official Cryptocurrency Exchange partner of the team until June 2025. Barca’s Next Crypto Step In an official announcement on its website, the soccer giant claimed that the partnership with WhiteBIT will underpin its commercial strategy and consolidate its “international expansion” by remaining a “benchmark both...

CNBC’s “Your Money Survey” estimated that 60% of the American participants consider the risk of investing in cryptocurrencies to be high. Just 5% of the respondents believe it is entirely safe to allocate some wealth to the asset class. Crypto Looks Riskier to Americans The decline of the cryptocurrency market, as well as the various adverse events in the sector, have had an impact on the sentiment among many Americans. CNBC’s latest research found out that 60% of the US...

The past 24 hours have been tough in the cryptocurrency markets, with the total capitalization dropping by some $40 billion. This comes on the back of major coins charting serious declines and BTC plummeting below $17K. Bitcoin Goes Below $17K Bitcoin’s price took a serious beating over the past couple of days, losing about 9% of its value since hitting $18,300 earlier in the week. For the past 24 hours alone, the cryptocurrency is down by almost 3%, training at around...

The Japanese government greenlighted a bill to exempt local cryptocurrency issuers from paying corporate tax on their holdings. The ruling body currently requires such firms to pay 30% on their ownings even if they haven’t gained profits through a sale. Japan’s ruling political party – The Liberal Democratic Party – aims to ease corporate tax legislation for domestic crypto issuers and thus stimulate such entities to operate in their homeland. Akihisa Shiozaki – an LDP...