The Grayscale Bitcoin Trust (GBTC) closed the previous week with a record discount of 21.36%, data from Glassnode shows. This means that new investors can purchase GBTC shares at prices significantly lower than the actual market value of Bitcoin, while the existing holders face losses due to the six-month lock-up period for the initial investment. According to Grayscale, the price…
The United States Treasury made further hints at new laws for stablecoins on Dec. 17. Nellie Liang, the Under Secretary of the Treasury for Domestic Finance, fueled more stablecoin regulation speculation with comments on investors ‘potentially big risk’ when using stablecoins. Following on from the Financial Stability Oversight Council November 2021 report on stablecoins, the top official for financial oversight…
Bitcoin (BTC) fell over 5% from local highs through Dec. 20 as macro tensions persisted into the new week. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Brace for volatile end to 2021 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it fell back below $46,000 overnight on Sunday, reaching lows of $45,787 on Bitstamp. The pair had hit…
Billionaire Ray Dalio gave another positive sentiment, saying he is impressed with crypto while classifying cash as “the worst investment.” In an interview with Yahoo! Finance, on December 17, the Bridgewater Associates founder stated that he thinks it’s “impressive” that crypto lasted without being hacked in the last decade. “I think it’s impressive that for the last 10-11 years, that…
Instagram CEO Adam Mosseri has said the social media giant is “actively exploring” the NFT industry. “Nothing to announce yet but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” Mosseri said via his own Instagram account. “I think it’s an interesting place that we can play…and also a way to…
A cryptocurrency bill introduced in July to the Senate of Paraguay has been approved. The text, which defines several important concepts including virtual assets, and establishes the need for licenses to mine cryptocurrencies, will now advance to the Deputy Chamber to be discussed. Paraguay Could Approve Crypto Law by Next Year A new cryptocurrency bill has taken its…
beginner It’s beginning to look like Christmas in Cryptoville! This year, we all are residents of this magical and crypto-oriented fictional city. Imagine, lights are everywhere, and the roads are strewn with white fluffy snow. At the foot of the mountain, locals slide down the hill. And at the top of the mountain, everything is not as beautiful as in…
The state government of Telangana announced the launch of the India Blockchain Accelerator program to foster early-stage Web2 and Web3 startups and blockchain developers aimed at solving real-world challenges. The program will be launched in partnership with unicorn crypto exchange CoinSwitch Kuber and Lumos Labs, a technology innovation management firm. In a dialogue with Cointelegraph, Rama Devi Lanka, Director Emerging…
Radioshack, the electronics-associated brand, has announced it will now pivot to a cryptocurrency-centric model. The company informed that its focus will be to “bridge the gap” to bring cryptocurrency into mainstream use. This is the latest iteration in the story of the brand, which was known for offering electronic products at a retail level in the ’70s and ’80s. …
The decentralized finance (DeFi) protocol Grim Finance reported $30 million in losses due to a reentrancy exploit of the platform’s deposits. Grim Finance officially announced on Dec. 18 that an “external attacker” had exploited the DeFi platform, stealing “over $30 million” worth of cryptocurrencies. According to Grim Finance, the hack was an “advanced attack,” with the attacker exploiting the protocol’s vault…
