Bitcoin (BTC) bulls are still licking their wounds from the bloody Dec. 4 correction which saw the price collapse from $57,000 all the way to $42,000. This 26.5% downside move caused $850 million in long BTC futures contracts to be liquidated, but more importantly, it shifted the “Fear and Greed index” to its lowest level since July 21. Bitcoin/USD price…
Stablecoins, or crypto assets which peg their value to less volatile fiat money, are useful tools for a variety of reasons. They can be used to cash out crypto investments, send or receive stable money abroad, and to pay for everyday consumer transactions without fear of fluctuation. A recent estimate from the Bank for International Settlements, or BIS, put the…
The government of Australia is preparing to comprehensively regulate the activities of cryptocurrency exchanges and custodians. The push is part of a major overhaul, aimed at preserving the country’s sovereignty over its payments system, which will also affect providers like Apple and Google. Payment Laws in Australia to Cover Crypto Business and Big Tech Authorities in Australia are gearing up…
In only a few hours on Saturday, $5.4 billion of Bitcoin futures contracts were liquidated, draining the market of 25% of its value, according to Glassnode’s weekly report. It was the second largest single day change in the futures market this year, behind only the massive sell-off of May 19. It was only a week ago that Glassnode found futures…
Bitfury CEO and former Acting Comptroller of the Currency Brian Brooks has hinted the regulatory environment in the United States could drive many crypto firms outside the country, and has already stymied companies attempting to offer a variety of financial products. Speaking at a Wednesday hearing on Digital Assets and the Future of Finance with the House Committee on Financial…
In brief Reddit has launched a new website and waitlist for its Ethereum-based Community Points rewards program. In July, the online discussion community picked Ethereum layer-2 scaling solution Arbitrum to grow the initiative. Reddit first dabbled in Ethereum-based crypto token rewards two years ago but has charted a deliberate path towards scaling the program. Finally, the popular online discussion community…
This is the second installment in Okcoin’s “I am Satoshi” series, profiles of Salvadorans during the transition to bitcoin as legal tender. Read the first about Elina Marchenko’s visit with Enrique Barrios of Bitcoin Smiles. Impressions Of The State Of Bitcoin One of my favorite things to do in the midst of the craziness unleashed by the passing of “Ley…
Watch This Episode On YouTube Listen To This Episode: Music is a wonderful thing. Bitcoin, too, is a wonderful thing. Combine them and you have a simply fascinating mixture. One of my favorite people to work with here at Bitcoin Magazine, Pleb Music, discussed this and much more with me in our latest episode of “Meet The Plebs.” His time…
Blaine Luetkemeyer, a House Representative from Missouri, revisited the issue of major companies exerting control over vast swaths of the Internet, something he expressed concerns about encroaching in the crypto space. Speaking at a Wednesday hearing on digital assets with the The House Committee on Financial Services, Luetkemeyer addressed Bitfury CEO and former Acting Comptroller of the Currency Brian Brooks…
On Wednesday, Nikhil Rathi, CEO of the United Kingdom’s Financial Conduct Authority, or FCA, issued the following statement to the Treasury Committee when asked about the risks of the much-unregulated cryptocurrency sector in the country: When we talk about the compensation scheme, we have to draw some pretty clear lines. I would suggest anything is crypto-related should not be entitled…
