Bitcoin News and Finance: What You Need to Know

Paxful, one of the largest peer-to-peer cryptocurrency marketplaces in the world, is celebrating the real reasons people use bitcoin everyday with a special $15,000 giveaway . The platform helps millions to have access to payments, e-commerce, remittances, wealth preservation and philanthropy with bitcoin. What Real People Use Bitcoin For With bitcoin’s incredible recent rally it is no surprise that most of the news you hear about the cryptocurrency focus on the price gains. However, it is important to remember that for many people it is so much more than just a speculative asset. Paxful is active all over the world, including in markets with hundreds of millions of unbanked people such as in Africa and Asia, and it therefore can see the real uses people have for bitcoin. In order to celebrate these real world uses cases and the fact that bitcoin is a valuable tool for all people, Paxful is launching a special $15,000 giveaway where 1,500 traders can win up to $100 in BTC . To lear...

Back in January, the notorious Craig Wright who claims to be Satoshi Nakamoto had his lawyers send letters to a number of websites like bitcoin.org telling them to remove the Bitcoin white paper hosted on their web portals. On January 31, bitcoin.org’s owner Cobra claimed he was threatened by a Bitcoinsv supporter after the person discovered the anonymous owner’s phone number. Moreover, the organization Crypto Open Patent Alliance (COPA) has sent a letter to Wright’s legal team seeking more information regarding the claims of copyright ownership. Cobra Refuses to Stop Hosting the Bitcoin White Paper, Allegedly Receives a Threat from a Bitcoinsv Supporter Not too long ago, Craig Wright’s lawyers stemming from the law firm Ontier LLP, have sent letters to various websites telling them to remove the Bitcoin white paper from the web portal. The claim was of course met with controversy and the owner of the website bitcoin.org refused to take down the paper. On February 3, 2021, the own...

The founder of Stone Ridge Asset Management and the New York Digital Investment Group (NYDIG) sees a “wall of money” coming into bitcoin based on his firm’s order book. The executive believes that institutions are just getting started and we will see an explosion of bitcoin-focused traditional financial products within a year. NYDIG Bullish on Bitcoin Stone Ridge Asset Management and NYDIG founder Ross Stevens shared his insight on institutional adoption of bitcoin last week in an interview with Microstrategy CEO Michael Saylor. Stevens founded Stone Ridge in 2012 and NYDIG in 2017, where he now serves as its executive chairman. Today, “NYDIG is a full service vertically integrated bitcoin-only financial services firm,” he described. “A year ago, we had 25 institutional clients,” he told Saylor. “Today, we have 280 institutional clients. We’ve got a pipeline in the onboarding process of 96.” Stevens added that at the current capacity, his company can onboard 75 institutions a month...

Pro-bitcoin U.S. Senator Cynthia Lummis has been appointed to the Senate banking committee. She has been talking to Janet Yellen and has outlined her plans to help the new Treasury Secretary and other U.S. lawmakers understand that bitcoin is a great store of value. Lummis says that Yellen has an open mind on this topic even though she currently thinks that cryptocurrencies are mainly used for illicit financing. Senator Lummis Plans to Convince Congress and Janet Yellen About the Benefits of Bitcoin U.S. Senator Cynthia Lummis was appointed to the Banking, Housing, and Urban Affairs Committee last week. The committee has jurisdiction over a range of matters, including banks, banking, federal monetary policy, currency, and financial aid to commerce and industry. Lummis was sworn in to the U.S. Senate on Jan. 3, becoming the first woman to serve as U.S. Senator from the state of Wyoming. She previously served as Wyoming state treasurer. In an interview with Morgan Creek Digital part...

Billionaire hedge fund manager Bill Miller’s flagship fund will soon be able to add bitcoin exposure by investing in Grayscale’s bitcoin trust (GBTC), according to its filing with the U.S. Securities and Exchange Commission (SEC). The fund currently has about $2.25 billion in assets under management. Bill Miller’s $2.25M Hedge Fund to Invest in GBTC The Miller Opportunity Trust, a hedge fund in the Miller Value Funds family, has filed an amendment to its registration statement with the U.S. SEC to be able to gain exposure to bitcoin. Billionaire investor Bill Miller founded Miller Value Partners LLC in 1999 and serves as the investment manager for the Miller Value Funds family. The company’s flagship fund, the Miller Opportunity Trust, had $2.25 billion in assets under management as of Dec. 31, 2020. Miller and Samantha McLemore manage the fund. According to the Feb. 5 filing with the SEC: The fund may seek investment exposure to bitcoin indirectly by investing in the Grayscale ...

The founder of two cryptocurrency hedge funds has been charged in U.S. federal court for securities fraud. He has pleaded guilty and is facing up to 20 years in prison. His two funds cumulatively had over $100 million in investments. The U.S. Department of Justice (DOJ) announced Thursday that Stefan He Qin, a 24-year-old Australian national and founder of two crypto hedge funds, has been charged with securities fraud and has pleaded guilty in Manhattan federal court. Qin “owned and controlled two cryptocurrency investment funds” called Virgil Sigma and VQR Multistrategy Fund between 2017 through 2020, the Justice Department described. Both funds were based in New York. According to the DOJ, the two funds had “over $100 million in investments.” HSI (Homeland Security Investigations) Special Agent Peter Fitzhugh commented that “Qin mastered the art of trickery by representing these firms as profitable investment strategies so more victims fell to his tactics and were defrauded ...

German authorities have been unable to gain access to more than 1,700 bitcoins belonging to a convicted hacker, who kept silent about how to access his crypto stash while serving his prison sentence. German prosecutors in the Bavarian town of Kempten said Friday that they have been unable to gain access to more than 1,700 bitcoins they said were seized from a hacker. The hacker, who was 29 years old at the time, was convicted in April 2014 of computer fraud, among other charges. He covertly installed software on other people’s computers to mine bitcoin, which he kept for himself. He was sentenced to more than two years in jail. The authorities “seized” more than 1,800 BTC belonging to him at the time and were able to sell 86 bitcoins from the stash in 2018, according to local media. The sale brought in about 500,000 euros ($602,452). A spokesperson for the Kempten district court said the rest of the bitcoins were protected by multiple passwords and IT specialists assigned to ...

PRESS RELEASE. The LUXURIOUS PRO NETWORK TOKEN is now officially listed on PROBIT, a globally reputed professional digital currency exchange. Officials from both the organizations have expressed their opinion in this regard. “In my opinion, LPNT’s solid strategy will benefit users and investors in multiple ways because this financial revolution has everything to top the growth ladder for a long period of time, said Mr. Eesmond Hwee, Associate Director, PROBIT.” “Listing on PROBIT, an internationally reputed digital currency exchange, will boost LPNT’s utilization, circulation, demand & supply by manifolds as users will be able to purchase it for use in all walks of life, said MR. Satish Mostra, CMD, LPNT and Mr. Happy Sheikh, Global Corporate Head, LPNT”. The group plans on adding value to this incredible feat through the utilization of all LPN TOKEN’s attributes like a decentralized cryptocurrency payment gateway, forex trading with LPN TOKEN, a decentralized cryptocurre...

The American musician, co-lead singer, and bassist for the rock band Kiss, Gene Simmons, has been very talkative about cryptocurrencies during the last two weeks. Just recently, Simmons sat down with Bitcoin.com’s podcast host, Dustin Plantholt and the two discussed a variety of subjects like the Ripple lawsuit, and why the rockstar thinks cryptocurrencies are worth owning. Gene Simmons Talks Crypto In an Upcoming Bitcoin.com Podcast Exclusive Gene Simmons is well known for his band Kiss , the rock band that was formed in 1973 by Simmons, Paul Stanley, Peter Criss, and Ace Frehley. Simmons is also known for being an entrepreneur over the years and just recently, news.Bitcoin.com reported on Simmon’s telling his Twitter followers about which cryptocurrencies he owned. Last week, the bass player told his fans he purchased BTC , ETH , LTC , DOGE, XRP , and other digital assets. Rockstar legend Gene Simmons has been discussing cryptocurrencies regularly on social media and this week...

The Indian government is reportedly considering taking “the ordinance route” to quickly pass the cryptocurrency bill. “The government is of the firm view that they want to introduce the law within a month of clearance of the ordinance,” a local news outlet detailed. Indian Government Seeks to Quickly Pass Crypto Bill All eyes are on what the government of India will do with the cryptocurrency bill that is listed to be introduced in the current session of parliament. The bill seeks to ban cryptocurrencies while creating a framework for the official digital currency to be issued by the central bank, the Reserve Bank of India (RBI). On Friday, CNBC-TV18 reported that “The government may take the ordinance route to pass the Cryptocurrency and Regulation of Official Digital Currency Bill,” citing unnamed sources. The news outlet elaborated: The PMO, Finance Ministry, and Cabinet Secretariat have started preparing the draft details of the ordinance. The government is of the firm view...

While the rise in cryptocurrencies over the last year has been the source of excitement among advocates and consternation for its detractors, a look at prices alone hides the real value being unlocked within the ecosystem. Cryptocurrency’s Real Value Lies in its Use, Not Speculation With the pandemic weighing on the global economic outlook and confidence in legacy frameworks ebbing near an all-time low, crypto fills the void among investors, consumers, and merchants alike. While easy to look at the significant rise in crypto valuations as the harbinger of times to come, cryptocurrency’s real value lies in its use, not speculation. The adoption of cryptocurrency is rapidly on the rise across industries and use cases. While the most high-profile moves are taking place on the financial stage as more funds and financial institutions pile into the nascent asset class , cryptocurrency’s primary hurdle has always been spendability. However, the increased financial allocations have oversh...