Bitcoin News and Finance: What You Need to Know

Financial guru Dave Ramsey has given advice on whether one should invest in cryptocurrencies, like bitcoin. Ramsey sees cryptocurrency as a get-rich-quick scheme, preferring to make his money in a “methodical” and “boring” way. Dave Ramsey’s Advice on Investing in Bitcoin and Other Cryptocurrencies Dave Ramsey has given advice on cryptocurrency investing. Michael from Dayton, Ohio, called into The Ramsey Show saying that he had been looking into cryptocurrency and asked whether he should be investing in it. The episode, entitled “Should I Invest in Cryptocurrency?” was aired on May 20. Michael is 24 years old and has saved up $3,800 from working his job. He told Ramsey: “I just want to know what are the best investments to really look at and where to go about it.” The self-proclaimed personal money management expert, Ramsey calls himself “America’s trusted voice on money.” He is the author of seven best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, Ent

Major British bank Natwest has launched an alert to urgently warn its customers of cryptocurrency scams, which have been on the rise. The bank has provided several tips for customers “thinking of investing in bitcoin or other cryptocurrencies” on how to spot scams involving cryptocurrencies. “If you ignore the above advice, you could lose all of your money,” the bank cautioned. Natwest’s Advice on How to Spot Crypto Scams National Westminster Bank (Natwest), a major retail and commercial bank in the U.K., has launched an urgent cryptocurrency scam alert on its mobile app. The alert urges customers to beware of scams involving cryptocurrencies following a record number of reports in the first quarter. Natwest explained that a common scam people fall victim to involves fake celebrity endorsement, such as The Virgin Group founder Sir Richard Branson . Natwest’s head of fraud prevention, Jason Costain, was quoted by the media as saying: We have prevented millions of pounds from being

The infamous Joseph Maldonado, aka “Joe Exotic,” from the docuseries “Tiger King: Murder, Mayhem and Madness,” has launched his own Ethereum-based token. According to the website tiger-king.org, the project will also feature non-fungible tokens (NFTs) and the proceeds from NFT sales will go toward helping Joe Exotic’s legal defense team and tiger rescue funding. ‘Tiger King’ Joe Exotic Launches an ERC20 Token The costar of the docuseries “Tiger King” has announced the launch of a new crypto asset called “TKING,” according to the reality series star’s official Twitter account. Bitcoin.com News reported on the popular docuseries last year when it was discovered that Joe Exotic’s costar Carole Baskin accepted bitcoin donations for Big Cat Rescue . Now Exotic “is back,” according to the website tiger-king.org and whoever developed an ERC20 token for him has minted a trillion TKING tokens. “The legend of Joe Exotic has launched on the Ethereum blockchain! The man the world learned to

While a number of media pundits and politicians have been talking about Bitcoin’s energy consumption, there’s been a myriad of firms working toward green solutions well before all the controversy. Unfortunately, critics don’t highlight the amount of renewables miners use or the cogeneration applications. One project called EZ Blockchain has partnered with the Texas-based oil and gas service provider, Silver Energy to monetize wasted natural gas with bitcoin, while reducing emissions. Monetizing Stranded Gas and Reducing Emissions With Bitcoin A firm called EZ Blockchain recently detailed that the company has partnered with Silver Energy, an oil and gas provider based in Texas. According to the firm, the team installed Silver Energy’s first mining site at the company’s Alberta, Canada location in February 2021. After the installation of Microbt Whatsminers, EZ Blockchain said that the project reached around 1 megawatt of power consumption. All of the power is “processed from 250 MC

U.S. Senator Rick Scott has urged Treasury Secretary Janet Yellen to take action on cryptocurrency scams, which he said have risen 1,000% in the past year and cost consumers at least $80 million. “This is an unregulated industry, and the alarming amount of criminal activity surrounding cryptocurrency demands action,” he told Yellen. Senator Scott Alerts Janet Yellen to Cryptocurrency Scams Senator Rick Scott wrote a letter to Treasury Secretary Jenet Yellen on Thursday raising concerns regarding the rising number of scams involving cryptocurrencies. The senator wrote: I write today with concern about the risks taken by ordinary investors and the significant potential for scams related to cryptocurrency. He explained that “Cryptocurrency values have fallen drastically over the last few weeks, while reports of scams and fraud have skyrocketed.” Senator Scott cited research by the Federal Trade Commission (FTC) stating that cryptocurrency scams have risen 1,000% in the past year a

Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face hefty fines. Deadline for Tax Filing in Brazil Expires Midnight May 31 Brazilian citizens are required to file their 2021 income tax returns before June 1. This year, the deadline was extended by a month due to the coronavirus pandemic which took a heavy toll on South America’s largest economy. Failure to report revenues and tax obligations will result in fines starting at around $30 and going up to 20% on the tax due, Portal do Bitcoin warned readers recently. Taxpayers who kept over 5,000 reals worth of coins in their wallets, or $960 at the current exchange rate, must report the crypto holdings to Receita Federal , the country’s internal revenue service. This year, the tax age

Digital currency market prices have been dropping during the last few days as the crypto economy now rests at $1.53 trillion in value. Crypto trade volumes have increased a hair on Sunday, and a few crypto assets have seen decent percentage gains over the course of the last seven days. Crypto Market Prices Consolidate While Traders Wait to See if Bears or the Bulls Grab the Reigns Last week, crypto proponents witnessed billions of dollars shaved off the entire crypto-economy and many are curious as to where things are headed next. Bitcoin ( BTC ) jumped back above the $40k handle a few days ago, but then plummeted below the $34k zone on Saturday. At the time of publication, BTC is exchanging hands for $36,098 per unit and is up over 3% this week against the U.S. dollar. Despite the 4% gain last week, 30-day percentages show bitcoin prices are still down 35%. The top five trading pairs with bitcoin ( BTC ) on Sunday, May 30, 2021, includes tether ( USDT ) with 57% of all trade

Sveriges Riksbank, the central bank of Sweden, will carry out the next stage of its e-krona project with the help of two organizations from the financial sector. The move signals a transition from the initial in-house testing with simulated participants to cooperation with real, external partners. Riksbank to Work With Handelsbanken and Tietoevry to Test E-krona The main task during the new phase of the pilot will be to trial “the technical solution for the e-krona” with the participation of real market entities. To accomplish this, Riksbank has invited Handelsbanken, one of the country’s major banking institutions, and Tietoevry, a digital services and software company. In an announcement published Friday, the regulator noted: Involving external actors as participants in the test environment will make it possible for the Riksbank to evaluate the integration between the participants’ existing systems and the technical platform for the e-krona pilot. One of the elements that wil

During an interview this week, Metalla Royalty & Streaming CEO, Brett Heath, explained that he believes cryptocurrencies will lead to the next financial crisis. The precious metals boss said history shows that “mass adoption of a new financial product” typically leads to a financial crisis . Precious Metals Exec Says the Public Embracing Crypto May Lead to a Financial Disaster Brett Heath is the CEO of Metalla Royalty & Streaming (NYSE: MTA) (TSXV: MTA), a company designed to generate leveraged precious metal (PM) exposure via royalties and streams for shareholders. On May 27, Heath spoke with the precious metals news desk from kitco.com and explained that he believes the mass adoption of digital currencies like bitcoin will lead to catastrophe. Economic calamities begin when society adopts a new financial product Heath asserted. “When you look back to the last few decades and all of the financial crises that happened, they all have a couple of things in common. And one of

Renowned investor Stanley Druckenmiller has shared his views on dogecoin and ethereum. He said he wouldn’t long or short dogecoin and laughs when the meme cryptocurrency rises in value. As for ether, he is skeptical whether it can hold its position. Stan Druckenmiller on Dogecoin and Ether In an interview with The Hustle last week, famed investor Stanley Druckenmiller shared his thoughts on bitcoin, ether, and dogecoin, the meme cryptocurrency that has recently taken the market by storm. Druckenmiller founded Duquesne Capital in 1981. He managed money for George Soros as the lead portfolio manager for the Quantum Fund until 2000. He and Soros made massive profits betting against the British pound in 1992. The billionaire investor said that dogecoin “is just like NFTs [non-fungible tokens]. It’s a manifestation of the craziest monetary policy in history.” He added: “I think since there’s no limit on supply, I don’t really see the utility of it right now. It’s just this wave of mone

JPMorgan Chase CEO Jamie Dimon has given personal advice to investors regarding investing in cryptocurrencies, like bitcoin. He said that his own personal advice to people is to “stay away” from cryptocurrencies. However, his bank, JPMorgan, will not stay away as clients want exposure to this asset class. Jamie Dimon’s Personal Advice to Investors About Bitcoin, Other Cryptocurrencies Jamie Dimon, the CEO of JPMorgan Chase, the largest bank in the U.S., gave his congressional testimony before the House of Financial Services Committee regarding cryptocurrency on Thursday. While admitting that JPMorgan’s clients are interested in investing in bitcoin, Dimon said: My own personal advice to people is stay away from it. That does not mean the clients don’t want it. This goes back to how you have to run a business. I don’t smoke marijuana but if you make it nationally legal, I’m not going to stop our people from banking it. “We are debating should we make it available in some way, in

Bank of America, Citigroup, and Wells Fargo have shared their policies regarding cryptocurrency before the U.S. Senate banking committee. The three banks are in different stages of offering crypto services to their clients. They also lag behind some of their peers, such as Morgan Stanley and Goldman Sachs, in offering access to investments with exposure to bitcoin or other cryptocurrencies. Bank of America Evaluating Crypto Opportunities The CEOs of Bank of America, Citigroup, and Wells Fargo gave their testimonies on cryptocurrency before the Senate banking committee last week. The committee, headed by Senator Sherrod Brown, summoned the investment bankers for its annual oversight hearing on Wall Street firms. Bank of America CEO Brian Moynihan said that BofA was keeping distance from bitcoin and other cryptocurrencies as the bank continued “to evaluate the opportunities, risks and client demand for products and services related to cryptocurrency.” Noting that his bank holds more

The Boston-based cryptocurrency finance firm Circle has announced the company has raised $440 million in financing in order to “drive market expansion and growth.” The investment was led by prominent finance firms like Digital Currency Group, Fidelity Management and Research Company, and FTX. Circle Reveals $440 Million in Financing Circle Internet Financial, Inc. has revealed the company has obtained $440 million in financing from a number of strategic investors. Leading investors in Circle include Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, alongside Michael J. Price and Friends. Circle has attributed a lot of growth to the “rapid rise” of the stablecoin usd coin (USDC). The company considers USDC the “fastest growing dollar digital currency, which now stands at $22 billion in circulation. USDC has grown by 436% in 2021 alone, and over 28,000% over

On May 27, the president of Bianco Research, Jim Bianco explained during an interview that he believes there’s a lot of upside potential when it comes to the crypto economy. Bianco said since 2017 he’s owned a basket of crypto assets like ethereum, but he doesn’t hold bitcoin. Bianco Research President Owns a Basket of Digital Coins but Doesn’t Hold Bitcoin Bianco Research, L.L.C. is a service provider that offers qualitative and quantitative macro investment analysis for the institutional investor. The company’s president and market analyst, Jim Bianco, sat down with the hosts of CNBC’s “Trading Nation” on Wednesday to discuss the crypto economy. Bianco is a believer in digital currencies and has been investing for the last four years, collecting a basket of crypto assets since then. However, Bianco doesn’t own bitcoin ( BTC ) and he believes “coins like ethereum are going to be a lot higher way down the road.” Even though this may be the case, Bianco stressed that crypto investo

PRESS RELEASE. Pandora Finance ( https://pandora.finance/ ) announced that they have successfully closed their $2.4m seed round. The Pandora team received pledges from some of the most visible investors within the crypto space, and closed the round oversubscribed by manifolds. Overview of strategic investors The funding round concluded with Pandora selecting some of the most well respected investors within the crypto space. Pandora’s strategic investors include Genesis Block, Spark Digital Assets, AU21, x21, NGC, Zokyo Ventures, Exnetwork, A195, Protocol Ventures, Genblock, Magnus Capital, Chain Asset Capital, Amesten, Crypto Dorm Fund and Master Ventures and accredited individual investors like Danish Chaudhari (Bitcoin.com Exchange) and others. “GBV has been following the NFT developments closely. In Pandora, we find a unique and innovative solution to bring liquidity to the NFT ecosystem. This represents a major breakthrough in the potential use cases for NFTs!” — Leslie Tam, G

The leading crypto asset bitcoin has seen its value drop more than 53% from its all-time high above the $64k handle, sliding to a low of $30k on May 19. While bitcoin is still down 25% during the last 30 days, it’s hard to forecast where bitcoin’s value is going from here. Although a number of people leverage indicators like the Golden Ratio Multiplier, Fibonacci sequence, logarithmic growth curves, and tools such as the infamous stock-to-flow (S2F) price model to predict future bitcoin valuations. Predicting Bitcoin’s Booms and Busts With the Number Phi Most people can’t predict the future and when it comes to bitcoin ( BTC ) and the crypto economy, in general, busts and booms are common. Moreover, lots of times busts and booms are unpredictable except for a few occasions like specific news stories that shake investors. However, there’s a plethora of technical analysis tools, charts, and models that help a great number of people get ahead of the game. For instance, fans of techni