Bitcoin News and Finance: What You Need to Know

Pascal Blanque, CIO of Amundi, one of the biggest asset managers in Europe, has stated that bitcoin and other cryptocurrencies are a farce, exposing its skeptical stance on the real value of cryptocurrencies. The investor stated that crypto assets are an expression of markets making bubbles and that investors should focus on other more logical assets. CIO of Amundi States Cryptocurrencies Are a Farce Pascal Blanque has declared that bitcoin and similar cryptocurrencies are a farce during a recent news conference, according to a report from Reuters. The skeptic also said that cryptocurrencies were a clear symptom of a bubble-led market. Blanque, who has been CIO of Amundi and Head of the investment management platforms since 2005, was not shy in professing his incredulity when it comes to the new asset class that bitcoin and other cryptocurrencies have become. However, he did praise them due to the new paradigm these introduced to the economy, making central banks really feel the n

Localbitcoins, one of the biggest P2P exchanges in the world, has added Bitcoin Cash and other cryptocurrencies as payment methods to acquire Bitcoin on its platform. This marks a clear departure from the earlier position of the company, which hadn’t added new payment methods and had remained Bitcoin-only for some time. Localbitcoins Adds Bitcoin Cash and Other Cryptos Localbitcoins, one of the biggest P2P cryptocurrency exchanges in the world, is now allowing its users to purchase Bitcoin with other cryptos, in a departure from its earlier Bitcoin-only approach. The company announced in a blog post last week they will now allow listings leveraging Tether ( USDT ), Polkadot (DOT), Cardano ( ADA ), Bitcoin Cash ( BCH ), USD Coin (USDC), Chainlink (LINK), and Dogecoin (DOGE) as payment methods. The exchange also added several new fiat-based payment methods that can be used internationally, and others that can only be used in specific countries. The decision marks a clear departure f

Regional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification. South Korean Regulator Holds a Closed-Door Meeting With 20 VASPs A report stemming from D.Street who quoted undisclosed sources stated the South Korean FSC met with 20 “small and medium-sized exchanges in South Korea” to discuss the cryptocurrency environment. The insiders further noted that the exchanges could detail grievances to the financial regulator. ISMS certified exchange representatives who attended the meeting came from companies like Upbit, Bithumb, Korbit, Coinone, Kordax, Coinncoin, Tennten, Poblegate, and Flybit. The meeting was called the “Report Registration Guidance Consulting” and the report noted that only Upbit, Bithumb, Korbit, and Coino

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PRESS RELEASE. Planetwatch , a French start-up which decentralizes and incentivizes environmental monitoring, announced that its utility token, PLANETS, will be listed on Bitfinex on June 4th . PLANETS are the first Algorand Standard Asset (barring stablecoins) to be supported on a major international exchange. Claudio Parrinello, PlanetWatch’s CEO said: “This is a major milestone for PlanetWatch. Less than 18 months after company creation, and despite the COVID-19 pandemic, we have managed to demonstrate that our Smart City as a Service solution, based on community sensor deployment and crowdsourced air quality data, can deliver business-grade data feeds in a fast and cost-effective way.” PlanetWatch revolutionizes the way we measure air quality by using the Algorand Blockchain, IoT-enabled sensors and AI-based data analysis. PlanetWatch incentivizes citizens to operate air quality sensors and earn token rewards for data streams. Sean Lee, CEO of the Algorand Foundation, said : “W

The cofounder of Twitter and the CEO of the payments firm Square, Jack Dorsey, has revealed his firm is contemplating creating a bitcoin hardware wallet in collaboration with the community. Dorsey revealed this in a tweetstorm and said he wanted to share some “guiding principles” concerning this possible venture. Dorsey: ‘Square Is Considering Making a Hardware Wallet for Bitcoin’ On Friday, Jack Dorsey tweeted about the possibility of Square creating a bitcoin hardware wallet and discussed a number of principles the firm is guided by when approaching the subject. The founder of Twitter and Square explained that what the company creates needs to be “open,” as he noted that “bitcoin is for everyone.” “Square is considering making a hardware wallet for bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community,” Dorsey tweeted. “We want to kick off this thinking the right way: by sharing some of our guiding

Cryptocurrencies have jumped quite a bit in value over the course of the year and miners who verify transactions and earn digital assets have seen significant profits. While bitcoin miners have been seeing daily profits rise, a great number of other mineable digital currencies are pulling in much larger yields. Blake256R14 and Ethash Machines Pull Bigger Profits Than SHA256 Mining Devices The overall valuation of all cryptocurrencies in existence is around $1.5 trillion as digital asset values have risen considerably in 2021. While a great number of blockchains leverage consensus algorithms like proof-of-stake (PoS), there’s plenty of coins that can be mined with a machine like an application-specific integrated circuit (ASIC) mining rig. Mining rigs that can mine bitcoin (BTC) using the SHA256 algorithm can bring in anywhere between $7 to $16 per day in profits. That’s of course if the miner is using the latest hardware with at least 50 terahash per second (TH/s) of hashpower.

Cryptocurrency is a point of focus in President Joe Biden’s new directive aimed at combating corruption as a core national security interest of the U.S. An official of the Biden administration says that major parts of the directive will focus on cryptocurrency and cybercrime. Crypto a Focus in Biden’s New Directive for National Security President Joe Biden has issued a new directive to federal agencies to prioritize efforts to confront global anti-corruption. It was published in the “Memorandum on Establishing the Fight Against Corruption as a Core United States National Security Interest,” published by the White House on Thursday. An administration official explained that the memorandum is important because it publicly notifies federal agencies to “up their anti-corruption game,” CNBC reported Friday. Major parts of the directive will be focused on financial crimes, including steps to modernize existing anti-corruption laws to confront cryptocurrencies and cybercrime, the officia

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has clarified the central bank’s position regarding cryptocurrency. His statements followed a notice published by the RBI telling banks that its crypto banking restriction is no longer valid and cannot be cited. RBI Still Has Major Concerns About Crypto RBI Governor Shaktikanta Das clarified the central bank’s position on cryptocurrency In a post monetary policy press meeting Friday. Emphasizing that “There is no change in RBI’s position” regarding cryptocurrencies, Das said: With regards to RBI’s position, we have major concerns about crypto currencies, which we have conveyed to the government. And, with regard to investors, it is for each investor to do his own due diligence and take a very careful and prudent call. This clarification followed a notice posted by the RBI telling banks that its April 2018 circular which banned banks from dealing with cryptocurrencies is no longer valid and cannot be cited or quot

PRESS RELEASE. Shopping.io – Los Angeles, CA the premier crypto E-commerce platform will donate $50,000 to eToro’s flagship corporate social responsibility project GoodDollar , a non-profit initiative that distributes free crypto-based universal basic income (UBI) as part of its mission to onboard and educate the next billion digital assets users. Shopping.io’s $50,000 donation will be used to support the blockchain-based fund that sustainably mints and distributes digital basic income every day to more than 250,000 members in over 180 countries. GoodDollar stands apart for its scalable and sustainable approach to generating a crypto-based UBI, that leverages the principles of impact investing to enable financial supporters to earn rewards while using their crypto for good to fund a social project. Shopping.io’s $50,000 donation will be locked in the sustainable donation basic income fund, a smart contract that donates with all earned interest donated back to beneficiaries as basic

Digital currency markets have slid in value over the last 12 hours as the entire crypto-economy has lost over 7% during the last 24 hours. Bitcoin attempted to cross the $40k handle but was stopped at $39,490. Since then, bitcoin has dipped 7.3% during the early morning (EST) trading sessions on Friday. Bitcoin $40K Attempt Stopped Short, Crypto Prices Remain Range-Bound Bitcoin (BTC) is down today after trying to surpass the psychological $40,000 region but was stopped short. BTC is down more than 7.3% today and is currently swapping for $35,890 per unit. The leading crypto asset BTC lost some steam after Elon Musk tweeted about the digital currency on Twitter by sharing some memes and a broken heart emoji. BTC /USD on Friday, June 4, 2021. 30 day stats show BTC is down 36% while three-month stats show bitcoin ( BTC ) has lost over 25%. The leading crypto asset’s all-time high above the $64k handle took place around two months ago. ETH /USD on Friday, June 4, 2021.

The price of the leading cryptocurrency took a hit after billionaire Elon Musk mentioned Bitcoin in a new tweet hinting at a breakup. Musk’s latest crypto post, featuring a broken heart emoji and a reference to a Linkin Park song, effectively halted this week’s market rebound. Musk Tweet Pushes Bitcoin Price Down Before the Weekend Famous entrepreneur Elon Musk has added another tweet to a string of social media posts that have deeply affected cryptocurrency markets over the past few weeks. Reasserting his role as a market influencer, this time Musk trolled Bitcoin with a hint at a possible split with the leading crypto that he has been targeting lately. #Bitcoin 💔 pic.twitter.com/lNnEfMdtJf — Elon Musk (@elonmusk) June 4, 2021 In another enigmatic tweet, Musk wrote “#Bitcoin” adding a broken heart emoji and a meme of what looks like a couple discussing their breakup. The text accompanying the picture is a reference to the lyrics of “In the End,” a popular song by American

Thanks to its high volatility and price momentum, cryptocurrency is an increasingly popular asset class amongst retail day traders. CFDs that track price changes in major tokens make cryptos even more accessible for investors without the steep learning curve that traditionally accompanies cryptocurrencies. Fewer Obstacles Attract Investors to Products That Mirror Cryptos 1-to-1 Over the last year, the resurgent popularity of cryptocurrencies, which has closely tracked the appreciation in major coins, has managed to drive more awareness and engagement than the previous adoption wave, demonstrating cryptos staying power. Besides drawing enormous attention to the space, more consumers than ever before are using cryptocurrencies as a means of transacting. For eager traders, cryptocurrencies’ opportunity is evident due to their volatile characteristics and rapid price swings. Unlike traditional asset classes like stocks, bonds, foreign exchange, or commodities, cryptocurrencies often ma

The governor of Ghana’s central bank, Ernest Addison, has said his institution is now “in the advanced stages of introducing a digital currency.” However, before its release into circulation, the digital currency—which is also known as the “e-cedi”— will first have to go “through three phases.” Bank of Ghana’s Embrace of Emerging Fintechs In his comments during a news conference on May 31, Addison also reiterated the Bank of Ghana (BOG)’s desire to maintain its reputation as Africa’s leader when it comes to embracing emerging financial technologies. Ghana’s central bank governor, Ernest Addison. “The Bank of Ghana was one of the first African Central Banks to declare that we were working on a digital currency looking at the concept of an e-cedi,” revealed Addison. Meanwhile, one local media report quotes the BOG chief explaining the key phases which the digital cedi is expected to pass through before its release to the public. As Addison notes, the digital cedi has already go

PRESS RELEASE. With cryptocurrency adoption increasing in the Philippines, Filipino users are looking for ways to convert their digital assets into cash at an affordable rate. The Central Bank of the Philippines has recorded P76 billion (US$ 1.5B) worth of transactions processed by local virtual currency exchanges (VCEs) in 2020, which is five times higher than the transaction volume in 2019. Moneybees , the pioneer of over-the-counter crypto (OTC) exchange in the Philippines, is changing the face of crypto transactions as it enables both OTC and online transactions to exchange cash and cryptocurrencies on the spot more conveniently. With Moneybees, cryptocurrency holders can convert their digital assets into cash without fees and get the funds within 10 minutes. What is Moneybees? Moneybees allows you to buy and sell major cryptocurrencies such as bitcoin and Altcoins like Ethereum, USDT , Chainlink, Uniswap, among others, at government-licensed Moneybees Partner Outlets without

A recent study published by Gambler’s Pick notes that Gen Zers are less likely to invest in traditional investments like equities and more likely to invest in cryptocurrencies, meme investments, and non-fungible tokens (NFTs). Gen Z More Likely to Invest in Cryptocurrencies and Meme Investments Than Stocks and Common Assets The web portal gamblerspick.com published a study at the end of April that highlights the investment choices of Gen Zers. Generation Z or Gen Z for short is a demographic that succeeds Millennials. The group colloquially known as “zoomers,” were born between the mid-to-late 1990s and up until the early 2010s. The Gambler’s Pick survey notes that Gen Zers are more apt to invest in cryptocurrencies and NFTs over traditional stocks. The survey polled 872 people and 24% of the group represented Gen Z and 27% were Millennials. “25% were Gen Xers, and 24% were baby boomers or older,” the Gambler’s Pick study adds. Some key findings noted that Gen Z likes collectives