Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, has urged the U.S. government to ban cryptocurrencies like China has done. “A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house,” he stressed. Berkshire Vice Chair Charlie Munger Wants Cryptocurrencies…
In February 2022, OpenSea fell prey to a major phishing attack that resulted in over $1.7 million in nonfungible tokens (NFTs) being stolen from users. It wasn’t the only incident: Blockchain users reportedly lost $3.9 billion to fraudulent activity in 2022 alone. As we entered 2023, there was a chorus of promises to increase security within the crypto space. But,…
Indonesia’s Ministry of Trade is reportedly aiming to roll out a national crypto exchange by June this year, six months after its previous target of December 2022. Trade Minister Zulkifli Hasan shared the new target launch date on Feb. 2 at the opening of Crypto Literacy Month in Jakarta, noting that the government is currently reviewing which companies meet their…
Software analytics company MicroStrategy recorded a paper loss of over a billion dollars on its Bitcoin (BTC) holdings in 2022 but says it has no plans to stop trading the digital asset. MicroStrategy released its 2022 Q4 and year-end earnings on Feb. 2 showing the recorded impairment charges on its BTC holdings, net of gains on sale, was nearly $1.3…
Billionaire investor Ray Dalio has described fiat currency as being in serious “jeopardy” as an effective store of wealth but doesn’t believe Bitcoin (BTC) and stablecoins will be the solution either. Dalio, the founder of hedge fund firm Bridgewater Associates explained on CNBC Squawk Box on Feb. 2 that the mass money printing of the United States ollar and other reserve…
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has shared his view on why the prices of gold, silver, and bitcoin are rising higher. Noting that silver is cheap right now, Kiyosaki urged investors to buy a silver coin and start getting richer. Robert Kiyosaki Bullish on Gold, Silver, Bitcoin The author of Rich Dad…
Crypto-friendly bank Silvergate is coming under increased scrutiny as the U.S. Department of Justice reportedly investigates the bank’s role in the collapse of the FTX cryptocurrency exchange. The Department of Justice’s fraud unit is looking into California-based Silvergate Bank’s hosting of accounts tied to FTX and Alameda Research, Bloomberg reported, citing anonymous sources close to the probe. Launched in 1988,…
Getting an app listed in the Apple App Store is no easy task, but it’s been an especially onerous process for crypto companies and projects. That’s not by accident, according to Apple’s former App Store director. Phillip Shoemaker, who originally crafted the App Store’s guidelines together with the late Steve Jobs, says that those guidelines have been rewritten since his…
In an extensive Twitter thread, Mastercard’s product lead for NFTs announced Thursday he had resigned from the global payments and credit card company, citing harassment and emotional distress. I have resigned from @Mastercard. For the past year, I served as the ‘NFT Product Lead.’ I evangelized Web3 for Mastercard leadership & regional teams, as well as all our Fortune 500…
Bitcoin is the greatest form of defense against wealth confiscation and an insurance policy for the developing world, according to ARK Invest CEO Cathie Wood. The investor—a longtime bull for the crypto industry—stands by her $1 million Bitcoin price target, believing the asset presents opportunities for wealth preservation to the rich and poor alike. “There’s hyperinflation all over the world…
