The British-founded American multinational corporation headquartered in New York City, Sotheby’s, closed the Yuga Labs “101 Bored Ape Yacht Club” non-fungible token (NFT) collection auction at $24.3 million for the lot. The auction ended on September 10 and surpassed the expected settlement for the NFT lot which was estimated to be around $12-18 million. The
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Everything is bigger in Texas, which is why it shouldn’t come as a surprise that the Lone Star state is making moves to become America’s next Bitcoin (BTC) hotspot. Most recently, Texas implemented two laws to ensure that cryptocurrencies are recognized under state commercial law. Texas House Bills 4474 and 1576 both took effect on
Nigerian fintech entrepreneurs have slammed the Central Bank of Nigeria (CBN)’s decision to select Bitt Inc as its fintech partner. They insist that the choice of Bitt Inc, a Barbados based firm, undermines central bank claims that it is “fighting for the naira in the forex market.” Bitt Inc’s Market Capitalization In fact, as the
The governor of Sweden’s central bank, the Sveriges Riksbank, has dismissed Bitcoin (BTC) as an altogether far-fetched alternative to government-backed fiat currencies. Speaking at a banking conference in Stockholm, Governor Stefan Ingves argued, “Private money usually collapses sooner or later.” In a further disparaging remark, he claimed, “sure, you can get rich by trading in
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Victory for the regulators After a tumultuous summer of crackdowns, the Chinese regulators are declaring their victory in eliminating illegal cryptocurrency trading activities
On Wednesday, the stock and cryptocurrency trading platform Robinhood rolled out recurring crypto investments and now customers can purchase as little as $1 in crypto commission-free daily, weekly, biweekly, or monthly. The company’s announcement discusses the strategy of investment called dollar-cost averaging “in order to help smooth out the price swings.” Robinhood Rolls Out Recurring
By his own admission, Lee Cooperman still does not understand Bitcoin, despite BTC being up more than 300% since early December 2017. Speaking to CNBC on Thursday, the billionaire investor alluded to people his age having a hard time understanding Bitcoin, adding: “I’d be very careful with Bitcoin; I don’t think it makes a great
The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses. Ukraine Legalizes Crypto Activities, Defines Virtual Assets Ukraine’s Verkhovna Rada, the country’s
El Salvador’s adoption of Bitcoin (BTC) as legal tender is widely celebrated across the crypto ecosystem, but one expert believes the importance of the rollout was a little bit exaggerated. Speaking to CNBC, Fidelity Investments director Jurrien Timmer said that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.” “Because it’s not like
Analysts are attributing Bitcoin’s (BTC) plunge on Sep. 7 to the liquidation of over-leveraged positions. According to Bybt data, about $3.68 billion worth of long positions were liquidated in the last 24 hours in the Bitcoin options market. On-chain monitoring resource Whalemap said the decline was largely caused due to selling by whales who had
In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller’s hedge fund, state that “bitcoin has significant upside potential as a form of digital gold.” The report details that despite its volatility, bitcoin’s “risk-reward is attractive.” Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside
Bitcoin (BTC) crashed by $9,000 in hours on Tuesday thanks to a mass unwinding of leveraged traders and borrowers, one analyst believes. In a series of tweets on Wednesday, Willy Woo sought to get to the bottom of what made BTC/USD dive to lows of $42,800 on Tuesday. Woo: Bitcoin margin borrowers and open interest
The chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has singled out the growth of cryptocurrencies as something that now poses “a far greater danger to the world economy.” Therefore, in order to deal with such dangers or threats, Bawa advocates for a “collective and collaborative approach by authorities around the world.”
The crypto market is back to major price swings followed by a Bitcoin (BTC) price crash on Tuesday, the day the largest cryptocurrency became legal tender in El Salvador. But it was not unexpected for many crypto veterans, including Galaxy Digital CEO Mike Novogratz. Speaking to Bloomberg, the billionaire Bitcoin bull said that crypto is
Traders were caught flat-footed on Sept. 7 after a sharp collapse in the price of Bitcoin saw the digital asset fall below $43,000 and this led to widespread liquidations in derivative markets as more than $3.54 billion was liquidated. Amount of Liquidations in the past 24 hours by exchanges in total $3.54 was liquidated! In the
President of Ukraine Volodymyr Zelensky has highlighted the importance of launching a legal digital assets market in his country during a working visit to the U.S. The Ukrainian head of state met with top investors including from the cryptocurrency industry. President Zelensky Highlights Importance of Ukraine’s Virtual Assets Market Speaking to venture capital funds and
Bitcoin (BTC) holders took profits on Tuesday, just as El Salvador moved to recognize the digital currency as legal tender in a landmark move that could have significant implications for global adoption. After hitting local highs north of $52,800 on Monday, Bitcoin’s price plunged all the way to $42,900 in Tuesday trading, according to Cointelegraph
Fourteen suspects allegedly behind a cryptocurrency scam have been arrested in Taiwan. According to the country’s Criminal Investigation Bureau, the scheme has defrauded investors out of millions of dollars. Suspects Behind Crypto Scam in Taiwan Arrested The country’s Criminal Investigation Bureau (CIB) explained that the crypto scam allegedly defrauded more than 100 people out of
Bitcoin (BTC) targeted $53,000 on Sep. 7 as fears of a fresh BTC price dip faded above crucial resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “No going back” after El Salvador Bitcoin adoption Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new highs of $52,960 on Bitstamp overnight. After a swift retest
Bitcoin (BTC) has been the uncontested cryptocurrency market leader since its creator launched the digital asset in 2009 and to date, it continues to be the dominant force in the industry. This truth was put on display on Sep. 6 when BTC price rose to the $52,000 level and ignited a market-wide rally that lifted