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Facebook Debunks Social Media Rumours Says It Doesn’t Hold Bitcoin On Its Balance Sheet

It is not uncommon to hear various companies and firms investing in cryptocurrencies nowadays. After all, the crypto industry has skyrocketed in terms of usage and popularity as of late, and Bitcoin continues to dominate despite some fluctuations here and there. Many companies such as Tesla, PayPal and JPMorgan Chase and Co. have all made their intentions known when they decided to invest in Bitcoin, but the world’s famous social media platform, Facebook, seems to be heading in the opposite direction. Due to so many socio-economic institutions adopting crypto, it would have made sense for one to assume that Facebook…

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PayPal’s CEO Says Demand For Company’s Crypto Offering Surprisingly Exceed Expectations

Dan Schulman, the current Chief Executive Officer of the U.S based payment processing company PayPal, had recently stated that credit cards are eventually going to “go away.” It had been during an interview with TIME Magazine yesterday, on April 25th, that Dan had claimed that the demand for cryptocurrency and its continued implementation into the current financial systems is overwhelming and that as far as PayPal goes, the company’s crypto offering experienced massive success as of late. The comments by the PayPal CEO come at a time when interest in cryptocurrency is at an all-time high, with countries and companies…

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South Korean PM Nominee To Investigate Country’s Controversial Cryptocurrency Tax Law

The situation regarding cryptocurrency in South Korea continues to develop, as the country’s latest tax law faces heavy opposition from various crypto proponents. The new Prime Minister Nominee Kim Boo-kyum, who had been nominated by Moon Jae-in, the country’s current President, has stated that his team shall be investigating this new crypto tax law. As the use of cryptocurrencies and blockchain technologies become increasingly mainstream, numerous countries have dealt with it in varying ways. Whereas some have embraced it with open arms, others remain hesitant. Then there are some who refuse to want to do anything with it, as they…

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JP Morgan Set to Launch Bitcoin Fund Soon

Reports have shown that the banking powerhouse, JP Morgan,  is set to launch its first BTC fund by the summer for the bank’s clients. According to sources, the move is being led by Jamie Dimon, a well-known critic of BTC. Rich customers of the bank are expected to get it during the summer, later in the year. NYDIG is set to give custody to Bitcoin. When this is finally accomplished, the bank becomes the biggest banking institution in the United States to recognise Bitcoin as an official asset. JP Morgan Makes U-Turn This development comes a few years after its…

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Satoshi Nakamoto Identity Case Takes a New Turn

The London High Court is currently trying Craig Wright in a civil lawsuit. The lawsuit is filed by Crypto Open Patent Alliance (COPA). The movement is spearheaded and founded by Square Inc. CEO Jack Dorsey and has other noteworthy participants like Coinbase, Ark investment, Kraken, Satoshi Labs, and 13 other crypto organizations. The civil suit is a response to Wright’s copyright claims over the Bitcoin whitepaper. Wright is an Australian computer scientist who claims to be the creator of Bitcoin. He has claimed on several occasions saying that he is the real creator behind the entire Bitcoin blockchain. However, his…

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After Turkey, United Kingdom also Moving Towards Imposing Regulations against Crypto Corporations

Turkey has recently joined the list of countries that have banned cryptocurrencies. Another country that has been working towards the same goal is the United Kingdom. A few days ago, Investment bank HSBC introduced a restricting ban on the users that were dealing in MicroStrategy stock. The account holders of the bank had already been prohibited from investing their money into cryptocurrencies. Now another bank, NatWest, has introduced similar restrictions for their corporate clients. Morten Friis, head of the bank’s risk committee, told in an interview with the Guardian about the stern stance of the bank towards digital assets. He…

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Famous Crypto Analyst PlanB Says Bitcoin (BTC)’s Bull Run Isn’t Over Yet

Nearly every cryptocurrency in the market has experienced a major decrease in price lately, and perhaps the one that felt the effects the most was Bitcoin. Bitcoin is still the leader of the industry in terms of both price and market capitalization. However, after experiencing a drop of over several thousand dollars in price, some were left wondering whether this is the end for the bull run of the world’s largest cryptocurrency. On the other hand, PlanB seems to think that the dip in BTC price is not necessarily a strong and definitive indication that Bitcoin’s bullish run is indeed…

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US House Of Representatives Newly Passed Legislation Will Make Cryptocurrency Regulation Clear

The ‘Eliminate Barriers To Innovation Act’ is set to be released soon. This Act will see both the CFTC (Commodities Futures Trading Commission) and the SEC (United States Securities and Exchange Commission) working alongside one another in the hopes of establishing a working group based around digital assets. This decision had been made by the United States House of Representatives. The House had managed to approve legislation that would shed some light and provide some much-needed clarity on the rules and regulations regarding cryptocurrencies and also whether they are to be considered as commodities or as securities. Before anything, though,…

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American Real Estate Company WeWork Now Supports Bitcoin (BTC) As A Payment Method

Simply put, WeWork is an office-sharing and rental business. It is a commercial real estate firm based in the United States that offers open, collaborative workspaces for young entrepreneurs and technology start-ups, as well as services to various other businesses. WeWork creates physical and interactive shared environments, as well as workplace facilities for developers and businesses alike. WeWork made headlines when it announced that BTC can now be used to pay for the services provided. Many have considered this as a move towards ensuring that WeWork stays relevant in today’s economy, as well as a decision to capitalize on the…

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Bitcoin Price Crash Gives Bears Advantage

Bitcoin is the most coveted digital asset of the cryptocurrency market. Many investors believe that the cryptocurrency is a good hedge against inflation and sees it as a long-term investment plan. However, the digital asset continues to put investors’ earnings at risk, as its rapid price volatility continues to be heavily criticized by outsiders. The digital asset was able to hit a new ATH last week, crossing the $65K mark for the first time. Unfortunately, it crashed a few days after, hitting several lows, and is now entering a market correction phase. However, it appears that Bitcoin bears are not…

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How is the West Driving Bitcoin’s Bull Market?

Bitcoin has come to the crossroads again, and by now, the whole crypto market should be pretty much used to it, but when the bull run is in such action, and the prices remain consistent, investors do associate a lot of things from the present performance of the market and when it takes hit so do their hopes and dreams. Bitcoin’s price at this moment is roughly around $55.7k, and a lot of that has to do with the incident with the Chinese coal mines, halting of the mining operations for Bitcoin, and the severe dropping of the hash rate,…

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World’s Largest Music Store has Announced to Accept Bitcoin as the Payment Option

Beatport is a dynamic and world’s largest music store that will now be accepting cryptocurrency as the source of payment from its customers and clientele worldwide. It is also the biggest establishment out there regarding DJs and such, and now from April 20, it will be accepting cryptocurrency as the mode of payment. Robb McDaniels, who is also the CEO of Beatport, has shed some light that the music company wants to bring out this initiative where they become the pioneers in the music industry to have accepted Bitcoin and other sources of cryptocurrency as the payment method for their…

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Whales Activities Could Have Caused Bitcoin’s Declines

Bitcoin’s price has been unstable for the past few days as it touched as low as $52,000 earlier this week. The asset has regained some of its lost value, but it’s still far from its ATH, which is around $65,000. The asset is currently trading around the $55,000 mark, which shows that the crypto could be on the verge of welcoming new gains. The continuous price decline came as a shock to many people, but new whale cluster analysis reveals that long-term holders and market whales could have caused the latest selling pressure. The asset had stayed around $54,000 for…

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Users Can Now Buy Or Sell Crypto Using PayPal’s Venmo

Venmo, the social payment arm of the online payments giant PayPal, has now officially made it possible for users to hold, sell and buy cryptocurrency through the use of the mobile app. ‘Crypto on Venmo’ is the name given to this service, as had been announced by PayPal itself. This service will begin to be implemented from here on and shall be made available to 70 million users worldwide, who can all take advantage of the service with the Venmo app throughout the upcoming weeks. Much like PayPal, the Venmo offering is made possible via the Paxos Trust Company partnership,…

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Grayscale Buys $1 Billion Worth of BTC in 24 Hours

Serial bitcoin buyers, Grayscale have bought another round of BTC and other crypto assets. The company announced via its official Twitter handle that its BTC holdings are now $46.1 bn compared to the $45.1 bn it had the previous day. Grayscale announcement. Source: Twitter Grayscale Increases Its Portfolio of Altcoins It would be recalled that the company recently bought huge amounts of altcoins to increase its digital asset portfolio. Among the most notable ones it bought are LPT, LINK, and BAT. Also, the firm has now created new trusts based on these new altcoins that they’ve bought. Meanwhile, it has…

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South Korea Intends To Initiate Interagency Crackdown On Illicit Cryptocurrency Transactions

While the cryptocurrency industry has been steadily increasing in popularity as of late, it is also true that a lot of people simultaneously feel threatened by it. This is certainly the case when it comes to South Korea, a country that has made its feelings on cryptocurrency clear in the past. Like other nations such as Turkey, South Korea is also not a big fan of crypto. It is with this in mind that the nation’s chief financial regulator has formed various teams all over the country just in the past week. These teams are to keep a close eye…

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Bitcoin Recovers Slightly From Recent Decline

Bitcoin is currently trading at around $57,000, and this is a 5.78% increase from yesterday’s price point. The digital asset had decline early Sunday morning and had hit as low as $52,000 before regaining some bullish momentum and hitting the $55,000 mark. The crypto has been unstable due to certain factors, such as rapid sell-offs for securing profits. This growing selling pressure made the coin weak against the resistance, and it eventually breached the $60,000 support level. Some indicators show that the $55,000 mark would ignite new gains, and this could be true as Bitcoin is now moving towards fresh…

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Was A Massive Power Outage In China Responsible For The Crash Of Bitcoin Price To $50k?

Might be bizarre to most, but Chinese analyst Willy Woo believes a power outage in China is responsible for the massive crash in Bitcoin price. This power outage occurred in the Chinese mining region of Xianjing. Woo made a theory that somehow, these power outage was responsible for the crash in Bitcoin price as reports about the outage were made public a few days ago. The power outage was to facilitate an inspection into the safety of a coal mine as there was a flooding accident that temporarily trapped over 20 miners. Bitcoin price which was as high as $64,000…

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Bitcoin Drags Major Altcoins Into The Bearish Zone

The leading digital asset, Bitcoin, has entered into a new bearish zone, putting paid to speculations that the digital asset will create another all-time high. The recent decline that the digital asset saw early this morning has brought it back to a region traders never hoped it would return to. As at this time, the digital asset is briefly trading in a region close to the lows it witnessed three weeks ago. Bitcoin is not the only digital asset that has been affected by the bears, as some major altcoins have seen massive falls since the start of the day.…

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Early Coinbase Investor Calls Cryptocurrency Industry Next Multimillion-Dollar Opportunity

As the cryptocurrency market is flourishing day by day, many have started praising this nascent market. An early investor in Coinbase, the major cryptocurrency exchange based in the United States, has talked about the potential of the cryptocurrency market and regarded this exponentially growing industry as the next multimillion-dollar opportunity. Ron Conway is known as the early investor in the San Francisco-based cryptocurrency exchange Coinbase. He has recently shared his thoughts about the rapidly emerging and growing cryptocurrency industry. He recently appeared in an interview on TechCheck of CNBC, where he shed light on the future of digital currencies. While…

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