Bitcoin News and Finance: What You Need to Know

NFT tokens are taking over the investment scene these days, with unbelievable valuations and all kinds of brands and major artists rushing in. On the technology side SmartKey shows that NFT tokens can be used for more than just speculation, bringing real value and utility to the world. The project is now listed on KuCoin, with support for trading SKEY starting on March 19, 2021. SmartKey Brings Blockchain Technology to Real Life SmartKey is a platform that connects the DeFi revolution with real world objects. Unlike so many projects in the field that promise a lot but have nothing real to show for it, SmartKey has working blockchain technology that is already being used not only by companies but also by government emergency services to save lives. Last year it made headlines around the world when the city of Olsztyn in Poland used blockchain technology to streamline its fire, ambulance and police teams, reducing critical response times – using SmartKey. The advanced technologies...

The Russian President held a meeting with the attorney general’s office where cryptocurrencies came to the discussion table. Vladimir Putin raised red flags toward taking measures to prevent illegal activities on cross-border transfers with cryptos. Putin Calls Other Offices to Join the Fight Against the Usage of Cryptos for Illicit Purposes According to a transcript made public on the Kremlin’s official site, Putin considered that the General Prosecutor’s Office should keep engaged in strengthening financial monitoring. That being said, the Russian President pointed directly to cryptocurrencies: There is one more point — quite new, but essential: to take additional measures to suppress the illegal cross-border movement of funds of digital financial assets. Criminal elements are increasingly using these digital financial assets, and this certainly needs to be paid close attention to with colleagues from other departments, including Financial Monitoring. Financial Monitoring, or...

Bank of America sees no good reason to own bitcoin other than “sheer price appreciation.” The firm’s strategists found that the cryptocurrency’s “inflation hedging benefits are not particularly apparent.” Bank of America also claims that bitcoin does not offer diversification benefits and is “impractical as a store of wealth or payments mechanism.” Bank of America Sees One Good Reason to Own Bitcoin A Bank of America team led by strategist Francisco Blanch said in a report published Wednesday that there is “no good reason to own bitcoin unless you see prices going up.” Blanch is head of Global Commodities, Equity Derivatives, and Cross-Asset Quantitative Investment Strategies at Bank of America Merrill Lynch Global Research. The strategists wrote that “Bitcoin has … become correlated to risk assets, it is not tied to inflation, and remains exceptionally volatile, making it impractical as a store of wealth or payments mechanism.” They continued: The main portfolio argument for hol...

Ripple is thrilled to welcome Brooks Entwistle as Managing Director of Southeast Asia to lead and scale the company’s operations in our fastest growing region.  Brooks joins at an exciting time for RippleNet, which now includes Singapore-based remittance company BKK Forex, adding to Ripple’s fast growing customer base in the region like—Siam Commercial Bank, iRemit, … Continued The post Announcing Brooks Entwistle: Scaling Ripple’s Momentum in SE Asia appeared first on Ripple. http://dlvr.it/RvwrxC

One of China’s top internet app makers, Meitu Inc., has purchased more bitcoin for its treasury. The company now holds about $90 million in cryptocurrencies. Meitu is listed on the Hong Kong stock exchange and its flagship app has more than 1 billion users worldwide. Chinese Publicly Traded Company Increases Bitcoin Holdings in Its Treasury Meitu Inc. announced Wednesday that its wholly owned subsidiary Miracle Vision has acquired more bitcoin and ether in open market transactions. This is the second purchase announcement by the company. Meitu is listed on the Hong Kong stock exchange under the stock code 1357.HK. The company has bought 386.08581655 more BTC “at an aggregate consideration of approximately US$21.6 million” and 16,000 more ETH at “an aggregate consideration of approximately US$28.4 million,” the announcement details, adding: The group has accumulated a net purchase of approximately US$90 million worth of cryptocurrencies. “Settlement of the cryptocurrencies acq...

The mastermind behind a large-scale Twitter hack to promote a bitcoin giveaway scam has pleaded guilty and been sentenced to three years in prison. During the hack, a number of high-profile companies, politicians, and celebrities saw their accounts taken over to promote the cryptocurrency scam. Graham Ivan Clark, the Florida teen who hacked prominent Twitter accounts to promote a bitcoin giveaway scam in July last year, reportedly pleaded guilty on Tuesday to all state charges against him in exchange for a three-year sentence in a juvenile facility. He also agreed to three years of probation after his sentence, the Office of the State Attorney 13th Judicial Circuit in Tampa announced. Clark, now 18 years old, and his accomplices took control of popular Twitter accounts belonging to corporations, politicians, and celebrities. They included the accounts of U.S. President Joe Biden, former U.S. President Barack Obama, Microsoft co-founder Bill Gates, Tesla Technoking Elon Musk, Am...

The Belarusian president held a meeting over the week where he mentioned cryptocurrencies within the context of regulating the IT industry. Alexander Lukashenko hinted at tightening the regulatory framework to control crypto usage in Belarus. Lukashenko Seeks to Create a Unified Governmental Regulatory Body According to news agency Belta , Lukashenko met with senior government officials to clarify the regulatory environment that rules the crypto sphere. Overall, he asks for changes in the industry’s current rules. Firstly, he praised the fact that Belarus has been a “pioneer” in discussing legal matters on cryptocurrencies: The use of digital signs (tokens) and cryptocurrencies has become commonplace in many countries in the world. They are accepted as an additional means of payment along with traditional money. In 2017, we were the first in the world to create legal conditions for the development of these technologies in Belarus. That’s why the Belarus president believes the c...

Following the recently published survey by Mizuho Securities that estimates roughly $24 billion from the $380 billion in direct stimulus checks will go toward bitcoin, a Harris Poll was released that estimates around 1 in 10 Americans have used stimulus checks to invest in cryptocurrencies like bitcoin and ethereum. Recently Published Harris Poll Says 7% of the Americans Surveyed Intend to Spend Stimulus on Bitcoin and Ethereum Three days ago, Bitcoin.com reported on a poll that was published by the Japanese banking firm Mizuho Securities. The study polled 235 individuals who make less than $150,000 annually. The survey’s responses had shown that $40 billion out of the $380 billion in direct stimulus would go toward bitcoin and stocks. $24 billion out of the aggregate or 60% would possibly flow into bitcoin ( BTC ), Mizuho’s survey noted. Now a new survey has been published by the Harris Poll, otherwise known as Harris Insights, which claims 1 in 10 U.S. citizens have used their s...

Nearly ten years into failed fiscal and monetary policy experiments, when trust in institutions is ebbing near an all-time low, the rationale for holding bitcoin has never been stronger. Yet, many people are neutral and non-reactive on the matter, giving credence to the current state of affairs instead of challenging the very narrative that is gambling everyones’ future for small gains today. With Inflation Historically Behind the Collapse of Economic Empires, Bitcoin Offers A Way Out Many people point to the last financial crisis of 2008-2009 as the juncture where moral hazard reached a tipping point. For those unfamiliar with the phrase, moral hazard represents the idea that when an entity knows it will be protected against the risks it takes, it will take outsized risks with the full knowledge that any failure will result in no meaningful consequences. Instead of punishing the instigators and culprits behind the last crash, too-big-to-fail organizations and governments were pr...

On March 17, a report detailed that the digital exchange being developed by Switzerland’s principal stock exchange SIX is preparing to launch by the summer of 2021. The exchange called SIX Digital Exchange (SDX) reportedly will also offer bitcoin, alongside the possibility of non-fungible token (NFT) assets like tokenized works of art. SIX to Launch SDX by the Summer, Bitcoin to be Listed on the SIX Digital Exchange The exchange SIX based in Zurich is Switzerland’s most popular stock exchange that allows people to trade stock options, derivatives, Swiss government bonds, and other types of securities. Not only has SIX offered exchange-traded products focused on digital currencies like bitcoin ( BTC ) and ethereum ( ETH ), the stock exchange is launching a crypto asset exchange called SIX Digital Exchange (SDX) in the near future. A report written by Finews author Samuel Gerber notes in a recently published report that SDX is planning to launch soon and in addition to securitized c...

PRESS RELEASE. Bitcoin of America, a popular virtual currency exchange, has announced its partnership with Jambos. Jambos is a non-profit organization that helps bring comfort to thousands of children in the foster care system. Even though Jambos and Bitcoin of America differ in their services, it is their passion for working together for a greater cause that unites them. About Bitcoin of America: Bitcoin of America is a digital currency exchange, registered as a money services business with the United States Department of Treasury. Apart from ensuring a fast and hassle-free transaction, their customer support makes them the best in the industry. Their mission is to provide their customers with a fast and easy transaction process, while ensuring the best rate in the market. To date, Bitcoin of America has over 900 Bitcoin ATM locations. They are located in major cities across the USA. About Jambos: Jambos is an amazing nonprofit organization that helps bring comfort to children a...

One of the largest U.S. investment banks, Morgan Stanley, will be offering its wealth management clients access to bitcoin funds. Goldman Sachs, JPMorgan Chase, and Bank of America’s wealth management divisions do not currently allow their advisors to offer direct investment in bitcoin funds. Morgan Stanley to Offer Wealth Clients Access to Bitcoin Funds Investment bank Morgan Stanley, with $4 trillion in client assets, has become the “first big U.S. bank to offer its wealth management clients access to bitcoin funds,” CNBC reported Wednesday. The firm reportedly told its financial advisors in an internal memo that it is launching access to three funds that allow exposure to bitcoin, the publication conveyed, citing people with direct knowledge of the matter. According to the people, clients have been demanding exposure to the cryptocurrency, adding: Clients can likely make investments as early as next month, after the bank’s financial advisors complete training courses tied to t...

A South African crypto exchange, Ice3x, suspended trading on its platform on March 16 after noting discrepancies in balances of bitcoin and litecoin held on the platform. At the time of writing, the exchange had not revealed the cause of the mismatches in balances or when it expects trading to resume. In the meantime, a report that quotes the exchange’s CEO, Gareth Grobler, adds that BTC and LTC withdrawals have similarly been suspended. However, in his statement following the suspension of trading, Grobler reveals that subsequent consultations and deliberations on the issue with its partner, Merkeleon.com, did not yield “a satisfactory conclusion.” According to Grobler, this ultimately forced the exchange to take action that is intended to protect users. Meanwhile, as investigations into the cause of the discrepancies continue, the exchange is also urging holders of other coins to immediately withdraw. The statement reads: Currently, clients who hold any other currency (exclud...