Bitcoin News and Finance: What You Need to Know

The price of bitcoin and a number of digital assets saw significant gains on Monday, as the entire market capitalization of the crypto economy has gained 2.4% in the last 24 hours. Bitcoin’s value passed the psychological $50k zone after hitting a low of $43,021 the day prior on Sunday. Bitcoin (BTC) touched a high on Monday, March 1, at $50,244 per unit at around 7:26 p.m. (ET). At the time of publication, BTC ’s overall market valuation is around $926 billion and there’s $22.83 billion in global trade volume. The current price is over 15% higher than the low of $43,021 per unit on February 28. Out of all the crypto-assets in existence, BTC ’s market dominance in terms of market valuation against the $1.44 trillion in value is 61.02% today. Bitcoin is still down 8% for the week but is up 44.92% against the U.S. dollar during the last 30 days. The second-largest market capitalization is ethereum (ETH) , which is now trading for $1,583 per coin. ETH has jumped over 9% during ...

Thanks to TON Labs, BSN will now be able to produce real-life applications that require a scalable backend and use cases in compliance with China’s regulatory framework while still using an inherently decentralized network to do so. China’s Developers Gain Access to TON Technology China’s Blockchain-based Service Network ( BSN ) and TON Labs announced today that they have struck a partnership agreement to p r ovide China’s developers with access to TON Technology through BSN’s Open Permissioned Blockchain (OPB) Initiative in order to build applications and create use cases in compliance with Chinese regulatory demands. OPB Initiative is designed for public chains to enter the Chinese market legally. It makes public chains regulatory compliant by removing the mechanism of using cryptocurrencies to pay for gas fees and offering permissioned controls over node deployment. The TON protocol, originally developed by Telegram, was ultimately abandoned by its founders back in A...

Since the company Microstrategy shifted a lot of its treasury reserves into bitcoin, a great number of companies have followed the firm’s lead. According to the web portal, bitcointreasuries.org, data shows that 42 companies are now represented on the list and the businesses hold more than $65 billion worth of bitcoin. The Corporate Bitcoin Stash- 6.43% out of the 21 Million Capped Supply It has become a trend to add bitcoin (BTC) to a company’s balance sheet and the company Microstrategy invoked the trend when the business purchased $250 million worth of BTC . Since then, a great number of companies have followed suit and BTC ’s value has skyrocketed as well. For instance, at the end of 2020, 29 firms held around 1.1 million bitcoin worth more than $30 Billion using exchange rates on December 28. Moreover, at the time, the 29 companies owned 5.48% of the entire 21 million BTC supply. Today, according to bitcointreasuries.org statistics the numbers have changed a great deal. Th...

Last Sunday, the price of bitcoin touched an all-time price high at $58,354 per unit and surpassed a $1 trillion market capitalization. Bitcoin’s value has dipped since then, but the decentralized crypto asset’s market still captures a large $900 billion valuation. On February 26, the director of the Economic and Social Research Council (ESRC) warned that bitcoin’s growing value and success may lead to a technocratic dystopian society that rivals “the kings and emperors that ruled over empires in centuries past.” Hyperbitcoinization: ‘A Voluntary Transition From an Inferior Currency to a Superior One’ Almost seven years ago back in 2014, Daniel Krawisz wrote about and created the term “hyperbitcoinization,” in order to describe how fiat currencies will rapidly lose value and Bitcoin supplants them. Krawisz explained what demonetization is and one specific type that is often talked about these days called hyperinflation. Essentially, in economics, the term hyperinflation stands for...

On March 1, the startup General Protocols announced the company has raised $3 million in a Series A financing round led by a number of strategic investors. General Protocols is the firm behind the Anyhedge protocol, the first decentralized finance (defi) project built on the Bitcoin Cash network. ‘The Untapped Power Behind the Concept of Programmable Money’ The company General Protocols has revealed on Monday the startup has completed a Series A financing round that was funded by a number of investors. News.Bitcoin.com has reported on General Protocols on a number of occasions, as the startup believes “smart contracts on programmable money are the foundation of a multi-trillion dollar shift toward non-custodial and trustless networks.” At the end of December, General Protocols alongside the Detoken decentralized exchange (dex) launched the Anyhedge protocol into the wild. Being the first public defi protocol built on top of the Bitcoin Cash (BCH) network, Detoken and Anyhedge...

PRESS RELEASE. Decentralized storage is a crucial infrastructure in the technical field. With the Filecoin mainnet launch in October of 2020, Filecoin and IPFS are now leading the decentralized storage field. One of the star projects of the IPFS/Polkadot ecosystem, Crust Network proposes to implement key concepts of Filecoin based on the Substrate technical framework within the Polkadot ecosystem, and also address several design and technical issues of Filecoin. After several rounds of internal testing, Crust Network has launched its Decentralized Storage Market on Crust Apps and opened storage functions to users for public testing from the end of February. Crust Preview Network, Apps and DSM Based on the Substrate and PolkadotJS stack, Crust is building a decentralized storage network. Crust uses IPFS as the underlying data storage, retrieval and exchange protocol, and includes layered solutions on storage proof, PoS-derived consensus, storage market and storage applications. The...

Just days after the conclusion of its long-running feud with the Office of the Attorney General of New York, Tether says it is now a victim of an extortion attempt. According to the stablecoin issuer, the blackmailers are threatening to release documents they claim “will harm the bitcoin ecosystem” if their demand for the payment of 500 bitcoins is not met. Tether Not Paying the Ransom However, in its statement dismissing the threat, Tether says the blackmailers were attempting to extort money using “forged documents.” According to Tether, the documents purport to show an interaction between Tether personnel and representatives of Deltec Bank. Still, in a Twitter thread , Tether says it will not send the 500 BTC which the blackmailers want to be paid by March 1. The stablecoin issuer also says a formal report about the ransom demand has been made to law enforcement. Tether tweeted; We have reported the forged communications and the associated ransom demand to law enforcement. A...

A Spanish Court has issued an order compelling a division within the country’s police to investigate the possible existence of “computer fraud” on the Bittrex cryptocurrency platform. The order was issued following the filing of a complaint by a Tenerife based Bittrex user who claims to have lost 1.3 BTC (or $58,000) that was stored on the exchange platform . Cybercriminals Blamed According to a Spanish media report , the unnamed user’s problems started when initial attempts to access his funds were unsuccessful. However, after gaining access some 48 hours later, the user reports that “the money had literally disappeared.” The user contacted representatives of Bittrex who then “attributed the theft to the actions of cybercriminals.” Meanwhile, in its February 9 order, the Spanish Court says it wants law enforcement to carry out “a line of technological research that allows the author (of the theft) to be identified.” The court also wants “the Bittrex insurance company” to be invol...