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Cryptocurrencies a ‘Good Alternative to Traditional Settlement Processes’ — Study
25.7.2022
Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money...
Kenyan Activists Say Cryptocurrencies Have the ‘Potential to Create New Ways for Young People to Earn’
24.7.2022
According to some Kenya-based activists, raising funds through cryptocurrency and non-fungible tokens (NFT) sales is not only faster but less costly as well. The activists added that digital currency also has the “potential to create new ways for young people to earn, spend, save and send...
Social Media Users Deride China’s Reported Use of Military Tanks to Intimidate Protesting Bank Customers
23.7.2022
Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue...
Tesla Sold 75% of Its Bitcoin — Elon Musk Says ‘We Have Not Sold Any of Our Dogecoin’
21.7.2022
Tesla has converted approximately 75% of its bitcoin into fiat currency. The cryptocurrency sales left the electric car company holding digital assets worth $218 million. “We are certainly open to increasing our bitcoin holdings in the future,” Tesla CEO Elon Musk said, adding:...
FBI Warns of Fake Crypto Apps — 244 Investors Defrauded, $42.7 Million Lost
20.7.2022
The Federal Bureau of Investigation (FBI) has issued a warning about fake cryptocurrency apps defrauding investors. “The FBI has identified 244 victims and estimates the approximate loss associated with this activity to be $42.7 million,” said the U.S. law enforcement agency....
The Central African Republic Says Sale of 210 Million Sango Crypto Tokens to Commence in Late July
17.7.2022
The sale of the Central African Republic (CAR)’s 210,000,000 Sango coins is set to begin on July 25 and participating investors will have to buy tokens worth at least $500. In return for buying and locking in the Sango coins, investors will gain citizenship and a piece of real estate...
Latest Global Findex Survey: Share of Adult Population with a Bank Account Now 76% — 1.4 Billion Adults Still Unbanked
16.7.2022
Between 2011 and 2021, the share of the world’s adult population that had bank accounts rose from 51% to 76%, the findings of the latest World Bank Global Financial Index survey have shown. About 1.4 billion adults are, however, still unbanked, not having the money or the identification...
Study: 14% of Saudis Are Crypto Investors, 76% Have Less Than One Year of Experience in Cryptocurrency Investment
14.7.2022
About 14% of Saudi residents are either current crypto investors or have traded crypto in the past six months, the latest Kucoin study has found. The study has also found that 76% of investors have less than one year of experience and thus may be in need of relevant crypto education. Crypto Winter...
State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market
14.7.2022
Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our clients want direct access to this market through their house bank.” Swiss Post Office’s Banking Arm to Enter Crypto Market The banking and financial...
Charlie Munger: Everybody Should Avoid Crypto ‘as if It Were an Open Sewer, Full of Malicious Organisms’
13.7.2022
Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has a message for investors considering cryptocurrency. “Never touch it,” he stressed, adding that everyone should follow his example and avoid crypto “as if it were an open sewer, full...
Twitter Sues Elon Musk to Enforce $44 Billion Buyout Deal — Insists Breach Allegations Lack Merit
13.7.2022
Twitter Inc. has filed a lawsuit against Elon Musk to force the Tesla CEO to go through with the agreement to buy the social medial platform for $44 billion. Twitter alleges that Musk has breached the agreement repeatedly since he signed the deal with the company. Twitter v. Elon Musk: Lawsuit...
Insurance Company Sued for Refusing to Cover $7.5 Million Bitcoin Ransom Payment
12.7.2022
A British jeweler has sued its insurance company for refusing to cover a bitcoin ransom payment of $7.5 million. The jeweler paid the hackers to prevent sensitive customer data from being published. Insurance Company Faces Lawsuit for Refusing to Cover Bitcoin Ransom Payment A luxury British...
China Frozen Bank Account Controversy: Affected Clients Injured During Protests, Nearly $6 Billion Missing
11.7.2022
Some Chinese bank clients, whose accounts were frozen in April, were injured while staging a protest at the Zhengzhou branch offices of the country’s central bank. Reports from local media outlets suggest that as much as $6 billion in client funds is missing and the individual believed to...
Bitcoin Skeptic Peter Schiff Will Sell Troubled Euro Pacific Bank for BTC if Regulators Let Him
11.7.2022
Peter Schiff says he will sell his bank, Euro Pacific, for bitcoin if the Puerto Rican regulators let him sell it. “My bank was not put into receivership for being insolvent. It was put there for being under-capitalized,” the bitcoin skeptic said. Peter Schiff Says He’s Willing...
Tesla CEO Elon Musk Officially Terminates $44 Billion Twitter Deal — Twitter Threatens Lawsuit
9.7.2022
Tesla CEO Elon Musk has formally informed Twitter that he is terminating his $44 billion bid to buy the social media platform. “Twitter is in material breach of multiple provisions” of the agreement, Musk’s lawyer explained. Musk Ending Deal With Twitter Citing ‘Material...
Satoshi Nakamoto Dropped From the World’s 20th Richest Billionaire to the 79th in 8 Months
7.7.2022
In mid-November 2021, Bitcoin’s inventor Satoshi Nakamoto was one of the wealthiest individuals on the planet, with more than $69 billion in bitcoin, and was among the top 20 on the Forbes 2021 Billionaires list. Seven months have passed since then, and Bitcoin’s unknown creator...
Bank of America’s Active Crypto Users Drop More Than 50% in Bear Market
7.7.2022
Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that...
Voyager Files for Bankruptcy Citing Contagion in Crypto Markets, Three Arrows Capital’s Loan Default
6.7.2022
Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy. The company explained that the “prolonged volatility and contagion in the crypto markets” and the default of crypto hedge fund Three Arrows Capital (3AC) on a loan require it “to take deliberate and decisive...
British Army’s Social Media Accounts Hacked to Promote Bitcoin Giveaways, Crypto Scams
5.7.2022
The British Army’s official Youtube and Twitter accounts were compromised Sunday and hackers used them to promote crypto, including bitcoin and ether giveaway scams featuring Tesla CEO Elon Musk. British Army’s Social Media Accounts Used to Promote Bitcoin, Crypto, NFT Scams...
Metaverse Domains Are Trending as Minting Goes Live on Quik․com
5.7.2022
Quik.com, a portal to the web3-optimized metaverse, is bringing firsthand knowledge of the .metaverse, .vr, .web3, and many other top-level domains to the web3 race. These domains on Quik.com are minted on blockchain technology and are featured to be stored as an asset in the user’s digital...