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When it comes to the energy- and capital-intensive process of mining cryptocurrency, people tend to think of China, where about 65% of global hash power is located.But like many other closely observed metrics in crypto, American hashrate is a number that seems to be on the cusp of significant increase. Crypto mining, which harnesses data centers full of specialized computers...
Coinbase cuts margin trading. Binance sweeps out U.S. customers. OKEx offers rebates to clients affected by its five-week pause.Top shelfTax changeCoinbase will no longer send customers 1099-Ks, the U.S. tax form that led the Internal Revenue Service (IRS) to mistakenly think traders had underreported their gains. The exchange will instead use the 1099-MISC form, at least for customers who...
The price of gold is off from its all-time high while bitcoin is within striking distance of a record. Billions of dollars are flowing out of gold while institutional money is pouring into bitcoin.The narrative for some cryptocurrency advocates – and a growing chorus on Wall Street – is that investors have finally seen the light and are pulling...
Earlier this month, reacting to a decision by India’s highest court, prominent comedian Kunal Kamra tweeted that India’s Supreme Court is the “most Supreme joke of this country.” The following day, local media reported that Attorney General K. K. Venugopal greenlighted court proceedings against the comedian, based on a few tweets criticizing the Supreme Court. The charge levied against him:...
Bitcoin is trading at fresh 35-month highs above $19,000, having defended the psychological support of $18,000 during the Asian trading hours. The crypto market leader is now just 4% short of testing the record high of $19,783.Hence, most alternative cryptocurrencies, which are still down significantly from their respective lifetime highs, are beginning to look relatively cheap. For instance, ether,...
Start with the realization that the cypherpunks were right.Back in the early 1990s, prescient software guys got both excited about the internet and anxious about a future in which it would ruin every meaningful bit of privacy.The cypherpunks’ work and their writings laid out the assumptions that would drive the cryptocurrency industry, years before the Bitcoin White Paper was...
It has become clear by now that Central Bank Digital Currencies or CBDCs will be in our future and the technology will fundamentally change the use of money and the economic system as a whole.The world’s biggest economies and their central banks have announced working on CBDCs: the Federal Reserve, the Bank of Canada, and the European Central Bank...
The U.S. government is using Circle’s USDC to bypass Venezuelan blockades. Chainalaysis is looking to raise $100 million in fresh capital at a $1 billion valuation. Billions of dollars from institutional players are flowing into Coinbase. And VanEck found that bitcoin is less volatile than a quarter of S&P500 stocks, reigniting the case for a bitcoin ETF. Top shelfInjecting “stability”An...
Crypto markets have historically been led by retail investors, with professional investors following. Is that changing? After all, high-tech innovation in the past 15 years has executed an opposite about-face, flipping an enterprise-led pattern into a consumer-led pattern. Retail’s lead was evident in the fourth quarter of 2017, as media hype soared, alongside the price. There’s no doubt the retail...
Bitcoin (BTC) has made a stellar comeback from its March lows in 2020 and this performance is getting noticed by institutional investors. Recently Rick Rieder, BlackRock’s CIO of fixed income, said that Bitcoin could replace gold as it is “more functional than passing a bar of gold around.”Comments like these are a positive sign as they demonstrate that the...

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