As we’ve discussed in previous Daily Dives, March 2020 was a significant catalyst and turning point for bitcoin. We can see that in the behavior of exchange balances which have shown consistent net outflow over the last two years. The two most recent periods of significant inflows were right before both 2021 bitcoin local price tops. These tops in April…
India’s finance minister, Nirmala Sitharaman, has reportedly revealed that the government is “constantly monitoring” and “watching the crypto sector.” Referring to her budget speech, she noted that crypto taxation will be implemented before the central bank, the Reserve Bank of India (RBI), issues its digital currency. Indian Finance Minister on Monitoring Crypto Sector and RBI’s Digital Currency Launch India’s finance…
The below is a direct excerpt of Marty’s Bent Issue #1158: “Mainstream Monday.” Sign up for the newsletter here. Things are escalating quickly. On Friday we highlighted the fact that many individuals turned to Tallycoin, a service that makes it very easy to spin up a crowdfund campaign that uses Bitcoin to allow those running the campaign to receive funds…
In brief A Congresswoman’s comments reveal growing hostility to Puerto Rico’s crypto millionaires. But it’s unlikely that policy change will follow anytime soon. Stories about crypto millionaires decamping to Puerto Rico have become commonplace in recent years. The island’s attraction lies in its sandy beaches, mild climate—and its reputation as a place for U.S. residents to avoid paying taxes. But…
The stock price of popular video game store chain GameStop (GME) surged roughly 13% in one day amid rumors circulating online regarding a partnership with Microsoft to work on NFT gaming. At the time of writing, GME sits at $115.60 as of market close on Feb. 8 and has also held around that level in after-hours trading according to data…
In brief A new report by Elliptic points to a sharp rise in Bitcoin and cryptocurrency donations to Ukrainian NGOs. Many of these groups provide financial assistance to the military. Others are involved in cyber warfare. As tensions on Ukraine’s border continue to mount, Ukrainian non-governmental organizations (NGOs) are seeing a sharp rise in Bitcoin donations, according to a new…
Crypto exchange FTX is giving away bitcoin during the Super Bowl this weekend. The company estimates that each winner could receive between eight and 10 bitcoins. The actual prize amount depends on the time FTX’s Super Bowl commercial airs. FTX Giving Away Bitcoin in Super Bowl Sweepstakes Cryptocurrency exchange FTX announced Monday that it is giving away bitcoin during the…
When analyzing Ether’s (ETH) price chart, one could conclude that the 3-month long bearish trend has been broken for a few reasons. The current $3,100 price range represents a 43% recovery in 15 days and, more importantly, the descending channel resistance was ruptured on Feb. 7. Should Ether bulls start celebrating and calling for $4,000 and higher? That largely depends…
Many Bitcoiners may have a sour taste in their mouth when they think of financial advisors. Maybe it’s because they repeatedly tell their loved ones that Bitcoin is a ponzi scheme or worthless. Being wrong for years, and refusing to admit it the entire time, makes Bitcoiners hesitant to think highly of advisors. And to be frank, many financial advisors…
The U.S. Federal Deposit Insurance Corporation (FDIC) has named the evaluation of crypto assets a priority this year. “The rapid introduction of a variety of crypto-asset or digital asset products into the financial system could pose significant safety and soundness and financial system risks,” the FDIC said. Crypto Evaluation Named a Priority for FDIC The U.S. Federal Deposit Insurance Corporation…
