The just passed 1.2 trillion dollar spending bill passed by the U.S. House of Representatives left the crypto sector wondering—and worried—about the ramifications. Most Democrats voted for the bill. All except 13 Republicans voted against it. Why are crypto provisions even in an “infrastructure” bill? Simply put, the regulations meant to track and tax crypto...
Category: TRENDS IN CRYPTOS
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CRYPTO MARKET CAP HITS ALL-TIME HIGH
After a crash in May, the total market cap valuation of cryptos has recovered, with 250 billion dollars to spare. Crypto investments now represent a 3 trillion dollar market. That’s a 280-percent increase from where the valuation stood on 1 January 2021, at 775 billion. It also means cryptos have more than overcome a May...
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BLOCKCHAIN BATTLES
NYDIG ACQUIRES BOTTLEPAY TO EXPAND CRYPTO FOCUS. Every day there are fresh signs that traditional finance is working overtime to catch up and move with haste into the cryptosphere. Case in point: the New York based NYDIG crypto investing firm just bought British payments startup Bottlepay for an estimated 300 million dollars. NYDIG was created...
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CRYPTO OPENING WEALTH TO YOUNGER GENERATION
Younger generations who are more crypto savvy are currently seeing the lion’s share of benefits in the crypto revolution. As older investors scoff at and wonder about the value of bitcoin and other projects, cryptos have been a bright spot in what is in many ways, an overall bleak economic climate for young people. This...
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CHINA PRESSURES RETAILERS TO EXPAND DIGITAL PAYMENT SYSTEM
The Chinese government is pressuring McDonald’s to expand its ability to accept payments in e-renminbi, China’s new state-backed digital currency, in more stores before next year’s Winter Olympics begin in February, according to the Financial Times. Currently, McDonald’s plans to accept the e-renminbi at 270 restaurants in Shanghai but the government wants the burger chain...
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FOLLOW THE MONEY: FTX CRYPTO EXCHANGE VALUATION REACHES $25 BILLION
The cryptocurrency exchange FTX rose in value to $25 billion through a new $420-million funding round that drew investors including the Ontario Teachers Pension Plan and funds managed by Blackrock, according to The Wall Street Journal. Other funders included IVP, Iconiq Growth, Sequoia Capital, Tiger Capital Management, and Temasek, Singapore’s national wealth fund. FTX had...
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WALMART SIGNS UP FOR CRYPTO
Walmart, the U.S.’s biggest retailer, has installed Bitcoin ATMs at 200 stores and plans to add another 8,000 across the U.S. in the months ahead, allowing customers to buy the world’s premiere cryptocurrency while they buy socks and Pampers. Walmart’s Bitcoin ATMs are operated by CoinMe, which has partnered with Coinstar. Coinstar fields vending machines...
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INVESTORS DUMP GOLD FOR CRYPTO
Gold prices dipped below $1,800 on 25 October as investors continued to sell gold and invest in cryptocurrencies, the Financial Times reported. Investors have yanked $10 billion from the world’s largest gold-focused exchange-traded fund so far this year, and gold reserves also have lost owners, Bloomberg data shows. The price of gold has slipped about...
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BLOCKCHAIN BATTLES
PROSHARES BITCOIN ETF REAPS BENEFIT FROM BEING FIRST. Perhaps some day we’ll hear news of how one Bitcoin Exchange Traded Fund (ETF) managed to capture the first slot against a handful of others, gaining a competitive advantage. There’s no reason why the Securities and Exchange Commision (SEC) couldn’t have arranged for several ETF proposals to...
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POLS EMBRACE CRYPTO CAMPAIGN FUNDING
There may not be much clarity from the SEC or Congress regarding cryptos, but politicians trying to rack up donations may be seeing the light. Several initiatives are in the works that would make it easier for candidates to add crypto to their campaign coffers. In Texas,the state ethics commission has suggested a new regulation...
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