Bitcoin News and Finance: What You Need to Know

Mad Money host Jim Cramer, a long-term gold proponent, says that gold has let him down. He has become more bullish on bitcoin, advising investors to put 5% of their portfolios in the cryptocurrency to protect their assets. Jim Cramer Reduces Gold Holdings, Increases Bitcoin Allocation In an interview published Monday with Morgan Creek Digital partner Anthony Pompliano, Jim Cramer talked about his new investment strategy for bitcoin and gold. Cramer is the host of Mad Money on CNBC, a former hedge fund manager, and a co-founder of Thestreet.com, a financial news and literacy website. Emphasizing that bitcoin is what he had been searching for with gold, Cramer opined: I have, for years, said that you should have gold … but gold let me down. Gold is subject to too many vicissitudes. It’s subject to mining issues. It’s frankly subject to failing in many cases. The Mad Money host became interested in bitcoin after Pompliano explained the benefits of the cryptocurrency to him in Sep

The American news magazine Time has revealed it is getting into the cryptocurrency and blockchain space, as a new job listing shows the 98-year-old publication is in search of a chief financial officer (CFO) who understands bitcoin. Additionally, Time will be selling non-fungible token (NFT) assets via Superrare and in 30 days, the news outlet will be accepting crypto assets for digital subscription payments. American News Company Time Is Looking for a CFO That Understands Bitcoin A job listing posted to Linkedin shows that Time magazine, the American publishing company, plans to hire a new CFO who understands bitcoin and blockchain technology. “The media industry is undergoing a rapid evolution,” the job advert notes. “Time is seeking a Chief Financial Officer who can help guide its transformation.” The job offer also states that the interested party must have “comfort with bitcoin and cryptocurrencies” according to the listing’s qualifications section. Additionally, the individ

As the Indian government prepares to introduce the cryptocurrency bill, there are reports that it is considering blocking the IP addresses of cryptocurrency exchanges. Despite ban reports, many people in the Indian crypto community believe that the government will not impose an outright ban on cryptocurrencies, including bitcoin. Blocking IP Addresses of Crypto Trading Platforms The Indian government is reportedly “considering the blocking of internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening,” Business Standard publication reported Monday, citing an unnamed “source in the know.” This measure, if implemented, will be part of the government’s efforts to impose a ban on cryptocurrencies. Indian Finance Minister Nirmala Sitharaman recently said that the cabinet note regarding cryptocurrency legislation is being finalized and will be soon submitted to the cabinet. A bill entitled “The Cryptocurrency and Regulation of Official Dig

The NFT sector continues to grow, and it is no surprise that Dvision Network is looking to release NFTs. The Virtual Reality blockchain platform offers users the opportunity to purchase virtual space within its ecosystem, and NFTs are a significant part of this. Limited-Edition NFT Characters Dvision Network , a virtual reality blockchain ecosystem, has announced that it is set to pre-release the designs of five limited-edition NFTs. This information was revealed on March 15 and signaled the first major foray into the Non-fungible tokens sector by Dvision Network. According to the report, the five designs are from the limited-edition NFT originally scheduled to be available before the end of March. The NFT characters are built based on the avatar of major stakeholders within the cryptocurrency industry and will be auctioned in the coming days on NFT Marketplace OpenSea . The NFTs released by Dvision Network are unique and scarce since they are obtained from the limited edition

The Turkish lira currency plunged by more than 10% on March 22 after the country’s President Recep Tayyip Erdogan unexpectedly fired Naci Agbal, the country’s central bank governor. Having initially touched a new low of 8.280 a dollar, the lira recovered to close at 7.75 a dollar by 20.00 hours GMT. Inflation Fears On the other hand, a day before the lira crashed, bitcoin became the most searched word in Turkey. As Google trends data shows, searches for bitcoin spiked by more than 500% as inflation fears grew following Agbal’s ouster. Before his sacking, Agbal, who favored using higher interest rates to tame inflation, had helped make the lira “one of the best performing emerging market currency this year.” According to a report , satisfied overseas money managers had reacted to Agbal’s policies by pouring funds into the Turkish economy. The report said: Overseas money managers had added a net of $4.6 billion to Turkish stocks and local currency bonds during Agbal’s tenure, bett

On March 19, 2021, the U.S. Federal Reserve Board published a press release that detailed the temporary supplementary leverage ratio easements will be expiring as scheduled. U.S. banks will no longer have the relaxed capital requirements they once held since the onset of the Covid-19 outbreak. Despite Wall Street’s Protest Federal Regulators Deny SLR Extension During the first week of March, members of the U.S. Federal Reserve shrugged off concerns over inflation and erratic bond markets. More recently, Fed Chairman Jerome Powell explained that he looks at bitcoin as a substitute for gold. Now analysts and economists think the Fed may have some different issues ahead, as the U.S. central bank is ending the supplementary leverage ratio (SLR) easements invoked back in April 2020. “[The] Federal Reserve Board announces temporary change to its supplementary leverage ratio rule to ease strains in the Treasury market resulting from the coronavirus and increase banking organizations’ a

PRESS RELEASE. Crypto adoption is on the crest of a wave and so is India’s Antier Solutions that has aced the business in a short span. The blockchain and cryptocurrency development company has launched tokens worth USD 500M for its customers all over the world. In an industry that values worth USD 1 Trillion, this is an encouraging achievement for one of the earliest entrants in decentralized finance development . “We take immense pride in devoting our efforts towards the futuristic scope of decentralized finance that has had a scintillating take-off in the past 2 years. Despite an irregular sentiment curve towards the business, we never deviated from our core areas and built products that have churned explosive returns for businesses. “– as told by Shashi Pal, COO, Antier Solutions . For Antier, crypto token development is an integral part of their center-of-excellence. The company provides full-stack support from planning, development, and listing a token on leading platfor

A communications provider is in legal trouble with the U.S. authorities for a money laundering case involving cryptocurrencies. A federal court incited Sky Global for allegedly having facilitated criminal organizations to launder millions worth in crypto. Sky Global Is Also Accused of Remotely Destroying Devices to Avoid Seizing Per the filings , the Southern District of California stated that the Canadian-based company had been selling encryption devices to allegedly facilitate drug trafficking into Australia, Asia, Europe, and North America. The court believes Sky Global committed obstruction of justice by “creating, maintaining, and controlling” a system whereby the firm would remotely delete evidence of the illegal activities once authorities arrived to seize the equipment. Moreover, law enforcement accused the Canada-based telecom provider of using its infrastructure for the following purpose: To avoid detection of its illicit conduct by, among other things, laundering its

On Monday, Jack Dorsey the founder of Twitter and Square witnessed a digital certificate or non-fungible token (NFT) of his first tweet being sold for $2.9 million. The new owner of the NFT Jack Dorsey tweet is the CEO of Bridge Oracle, Sina Estavi, who outbid the founder of Tron Justin Sun for the tokenized tweet. The non-fungible token (NFT) asset hype has grown immensely and on Monday, March 22, 2021, Jack Dorsey’s tokenized tweet from March 21, 2006, was sold for $2.9 million in ether . Bitcoin.com reported on the tokenized 2006 Dorsey tweet during the first week of March when bids were up to $1.5 million for the tweet. Jack Dorsey’s first tweet was tokenized by an application called Valuables, which is operated by a company named Cent. The Web3 compatible website v.cent.co leverages the Matic blockchain for the tokenization process. The final bid from the Bridge Oracle CEO Sina Estavi was for $2,915,835 or a touch over 1,630 ETH . The project Bridge Oracle is an oracle

Tony Hawk joins a growing list of celebrities digitizing and selling their collectibles as non-fungible tokens. The skateboarding icon plans to auction a film of the last time he performed the Ollie 540 – the trick he first mastered 32 years ago. Ethernity Chain to Mint and Auction the Digital Collectible as NFT Boom Accelerates On the heels of numerous blockbuster NFT auctions by artists, celebrities, entertainers, and crypto evangelists, professional skateboarder Tony Hawk is set to auction his digital collectible at a still-unannounced date and time. The 52-year old pop-culture icon announced on Instagram that he had completed his final performance of the 540-degree “Ollie” that he landed first in 1989, underlining the scare and danger of doing the trick. On Twitter, he added, “Did my last ever ollie 540 today. You can compare it with my first one 32 years ago. This one meant a lot to me.” Did my last ever ollie 540 today. You can compare it with my first one 32 years ago. T

On Monday, the New York-based company Greenidge Generation Holdings revealed the business aims to be the first publicly-listed mining operation with a wholly-owned power plant. Greenidge expects to be publicly listed on Nasdaq via a merger with the firm Support.com. Greenidge Bitcoin Mining Operation and Gas Power Plant Plans to be Listed on Nasdaq Last year in March, Bitcoin.com reported on the company Greenidge Generation Holdings joining the bitcoin mining ecosystem, as it launched a fleet of mining rigs at the 65,000 square-foot natural gas utility plant in Dresden New York. Because Greenidge leverages the utility plant’s natural gas as its native energy source the company developed a direct “behind-the-meter cryptocurrency mining operation.” The following month, the gas power plant sold a fully compliant hashpower contract of 106 petahash to an undisclosed buyer as well. On March 22, 2021, Greenidge announced it plans to be publicly listed via Nasdaq through a merger with Su

Federal Reserve Chairman Jerome Powell sees cryptocurrency as a substitute for gold, rather than the dollar. However, he cautioned that crypto assets, including bitcoin, are highly volatile and not useful as a store of value. Fed Chair Sees Bitcoin as a Gold Substitute During a webinar sponsored by the Bank of International Settlements (BIS) on Monday, Federal Reserve Chairman Jerome Powell talked about cryptocurrency, mentioning bitcoin in particular. The Fed chair detailed: “Crypto assets are highly volatile, see bitcoin, and therefore are not really useful as a store of value. And, they are not backed by anything. They are more of an asset for speculation. They are also not particularly in use as a means of payment.” He elaborated: It’s more a speculative asset. It’s essentially a substitute for gold, rather than for the dollar. Powell proceeded to say that with crypto assets, “the public needs to understand the risks. The principal thing is there’s the volatility. Th

Major chipmaker Advanced Micro Devices (AMD) keeps making headlines amid the battle between crypto miners and PC gamers. Now, the company seems to have made a step forward to become friendlier to those with crypto mining purposes. AMD Doesn’t Want to Follow Nvidia’s Path According to a PC Gamer report , citing a product manager from AMD, the chipmaker has zero intentions to block crypto mining operations on its devices. “The short answer is no,” said Nish Neelalojanan, a product manager of the firm. Crypto miners were concerned about AMD’s possibility of implementing the same measures as its competitor, Nvidia, which recently implemented a limiter on its graphic processor units (GPUs) for ethereum ( ETH ) mining. Specifically, Nvidia made the maneuver on the Geforce RTX 3090 graphics cards in the wake of the gaming community’s complaints. Neelalojanan said: We will not be blocking any workload, not just mining for that matter. That said, there are a couple of things. First of a

PRESS RELEASE. B26 Finance , the world’s first blockchain-based self-banking service, has recently been released to the world. Being a relatively new project, developed and worked on for years, but officially launched 2 weeks ago (8/03/2021), B26 Finance has seen massive growth and adoption from the DeFi and crypto communities alike, with immense potential for mainstream adoption. Being a community and transparency-driven project , B26 Finance was created with the goal of helping common citizens become their own bank, removing encumberments and fees created by middlemen and third parties that provide little to no value when it comes to the required services. In short, B26 Finance is leveraging the innovations created by the DeFi sector to become a worldwide self-banking service, accessible to anyone. An incredible achievement, not yet seen in the world of banking or blockchain. As Jérôme CALMETTES says: “Banking has always evolved alongside technology, privacy and trust and it i

Jordan Belfort, the self-proclaimed “Wolf of Wallstreet” has moved away from his bearish views on bitcoin and now predicts the crypto asset might reach $100,000. Belfort, who has reinvented himself as a motivational speaker and consultant, says bitcoin unlike company stocks is more about “pure supply and demand.” He adds that the crypto asset is “free from the distortion of effectively printing more of your own corporate currency.” Bitcoin’s Fixed Supply Distinguishes It From Stocks Belfort’s remarks about bitcoin ( BTC ) were made during an interview with Fortune where he offered his take on Gamestop stock’s recent Reddit inspired price rally. While some observers have viewed the Gamestop price rally as another form of pump and dump, Belfort disagrees. Although he concedes that traders were “collectively pumping up these stocks” he, however, insists there is “no dump.” Meanwhile, when compared to company stocks, Belfort concludes that the crypto asset’s fixed supply gives it an

The publicly-listed bitcoin mining rig manufacturer Ebang has announced the completion of a new 6nm ASIC mining chip. Ebang believes the next-generation mining chip will give the firm’s ASIC products a “competitive edge” in the ambitious bitcoin mining industry. Mass Production of 6nm Chips to Begin When Market Conditions Become Suitable During the last few weeks, Bitcoin’s hashrate has been climbing to new heights as the network tapped 190 exahash per second on March 22, 2021. The price of bitcoin ( BTC ) has also helped propel bitcoin mining profits, but improved mining rig semiconductors have also increased the hashpower a great deal. Firms like Bitmain, Canaan, Microbt , and Ebang have seen massive demand in 2020 and into 2021. Most of these manufacturers are out of stock after selling mass quantities of ASIC miners to institutional buyers. On March 17, the China-based Ebang International Holdings Inc. (Nasdaq: EBON), announced the development of a new 6nm ASIC mining chip.

The team behind Turtledex protocol, a Binance Smart Chain (BSC) project has reportedly rug pulled its investors shortly after raising 9,000 Binance tokens worth $2.5 million. Immediately following the confirmation of the theft, the value of the protocol’s native token TTDX, reportedly plunged to near zero. At the time of writing, the social media accounts associated with the protocol appear to have been deleted. The Rug Pull As one report explains, Turtledex, which touted itself as a decentralized storage platform for users, successfully duped users by claiming it could help them “keep data and preserve files without needing to keep them on their computer.” These claims initially helped the Turtledex team to raise funds via the pre-sale round “in just two hours on Monday 15th.” Next, the team would follow up this successful fundraising round by “opening their liquidity pools on two major BSC Decentralized exchanges (DEXs): Pancakeswap and Apeswap.” The native tokens, TTDX, “were u