Crypto Newsletter

China’s oldest exchange BTCC exits bitcoin trading business amid regulatory pressure

BTCC, the crypto firm that once ran the most prolific exchange in Asia, announced last week that it had exited the cryptocurrency business. The crypto firm said it had sold its shares in the Singapore exchange ZG.com in May 2020. Most of the cryptocurrency exchanges based in China migrated overseas years ago, during the first cryptocurrency crackdown back in 2017. According to statements, this was the result of the continued regulatory pressure Beijing is exerting on cryptocurrency businesses.

Crypto Stocks: Hash Rate Collapse Is A Windfall For Bitcoin Miners - We're Bullish

Cryptocurrencies have tested investors' patience this year considering the significant volatility. Part of the challenge has been a renewed focus on environmental concerns particularly as it relates to the impact of bitcoin mining's power consumption and carbon footprint adding to regulatory uncertainties.

Morgan Stanley Reveals Stake in Grayscale Bitcoin Trust

According to a filing with the Securities and Exchange Commission (SEC), Morgan Stanley’s Europe Opportunity Fund has purchased a significant amount of shares from the largest asset manager in cryptocurrency, Grayscale.

Mysterious Bitcoin Maximalist Mircea Popescu Allegedly Found Dead

Mpex founder and Bitcoin evangelist Mircea Popescu reportedly drowned off the coast of Costa Rica, adding to the mystery surrounding the man, his purported bitcoin fortune, and what it might mean for the future of the network.

Can Bitcoin Reclaim the Psychological $50,000 Level?

Bitcoin has been stumbling for a long time and has recently registered a 50% drop. From the highs of $64967 to the lows of $28810, it touched on June 22, we have witnessed a strong pullback of more than 20%. As of now, bitcoin is trapped between stiff resistance and strong support levels. The future price action on this crypto counter will direct its momentum in the coming days.

Salvadorans will not be forced to use the government's Bitcoin wallet

The latest announcement from El Salvador's pro-Bitcoin president, Nayib Bukele, has clarified that citizens will not be forced to use the government-issued “Chivo” Bitcoin wallet.

In a tweet on June 29, El Salvador’s President Bukele stated he wanted to clear up any misinformation regarding the government’s wallet application following the passing of the country’s Bitcoin law on June 9, which will take effect on September 7.

Jay-Z and Jack Dorsey-owned music streaming service could feature NFTs and smart contracts

Jay-Z and Jack Dorsey have hinted that their music streaming service, Tidal, could be eying integrations supporting nonfungible tokens (NFTs) and smart contracts.

Speaking during a June 28 conference hosted on Twitter Spaces, the duo emphasized the importance of introducing features that empower the artists using the platform, citing smart contracts, NFTs, and analytics tools as examples.

AfricCypt founders deny stealing billions from customers, claim $5 million lost in a hack

Raees Cajee, the co-founder of South African crypto investment platform AfriCrypt, has denied claims after it was reported that he and his brother ran off with billions in investor funds. Instead, he asserted that the platform lost $5 million in a hack. As reported previously, AfriCrypt, an asset manager purporting to offer daily returns of up to 10% that launched in 2019, had been accused of disappearing with 69,000 BTC of investor funds in a mysterious exploit.

Impact of China’s Crackdown on Bitcoin Miners In Charts, BTC Block Interval Hits 10 Year High

China’s recent crackdown on cryptocurrency miners over the last month has resulted in a massive exodus of mining operations to overseas locations. This has had a severe impact on the Bitcoin price which came crashing down under $30,000 levels last week.

With the recent Chinese crackdown, the on-chain activity on the Bitcoin network has significantly changed hitting multi-year milestones. Let’s take a look at how things have changed w.r.t different on-chain parameters.

No, Paraguay is NOT legalizing Bitcoin, Congressman confirms

A Paraguay official changed course on what was an unprecedented development in crypto circles: That of the Latin American country legalizing Bitcoin as legal tender on the back of a similar move in nearby El Salvador.

But the sentiment has now proven short-lived as Carlos Rejala, a Paraguayan congressman rectified the statement in an interview with Reuters over the weekend.