Bitcoin News and Finance: What You Need to Know

Two U.S. senators have urged lawmakers to increase measures to regulate cryptocurrencies, including how to trace cryptocurrency transactions, in order to combat ransomware attacks. “We haven’t figured out in the country or in the world how to trace cryptocurrency,” one senator said, adding that “We’ve got to do a better job here.” Senators Urge Lawmakers to ‘Do Better’ in Regulating Cryptocurrencies Two senators on the Intelligence Committee talked about the government’s efforts to combat a growing problem of ransomware involving cryptocurrency in an interview with NBC News Sunday. Senator Roy Blunt recalled that he and Senator Tom Carper were leading the effort to try to make reporting of ransomware attacks mandatory. However, he said that “there was a lot of pushback” because “Nobody wanted to report that they had been hacked.” He added: “That was a fight we’ve been having now for almost a decade. And the only way you can begin to get on top of this is to know how pervasive the

Player cashes out approximately $180,000 after winning it on Sun of Fortune: Hold the Jackpot! Multiple Wins Result in a Total Bank of Over 5 BTC The weather was perfect, with just enough sunshine to warm up one lucky player starting a gaming session on the newly released game, Sun of Fortune: Hold the Jackpot . Little did this player know that the day had much more in store for them: the most lavish fortunes they ever imagined. With a range of game choices at Bitcoin.com Games , picking one is a matter of deciding whether you want to play for the biggest jackpots available, choose a game with the highest multiplier, or get busy chasing free spins on a game that offers plenty of bonuses. Sun of Fortune – Hold the Jackpot is the newest release from the top gaming provider Wazdan This lucky player happened to pick the newest release from one of the top gaming providers, Wazdan , and ended up winning a massive prize of approximately $180,000 in BTC over multiple rounds with bets o

Microstrategy will soon hold more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins. Microstrategy Acquiring More Bitcoin Microstrategy Inc. (Nasdaq: MSTR) announced Monday it intends to offer $400 million of “senior secured notes due 2028” in a private offering to qualified institutional buyers. The company detailed: The notes will be fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Microstrategy Services Corporation, a wholly owned subsidiary of Microstrategy, and certain subsidiaries of Microstrategy that may be formed or acquired after the closing of the offering. The company further explained that “The notes and the related guarantees will be secured, on a senior secured basis with Microstrategy’s existing and future senior indebtedness, by security interests on substantially all of Microstrategy’s and the guarantors’ ass

The chairman of major Indian company Infosys says that crypto should be regulated as an asset, like a commodity. He believes that crypto investors will significantly contribute to India’s economy. Infosys Chairman Wants Crypto Regulated as an Asset Infosys Chairman Nandan Nilekani says the Indian government should regulate crypto as an asset that can be bought or sold, like a commodity, according to an interview with the Financial Times. He explained: Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto. I think there’s a role for crypto as a stored value but certainly not in a transactional sense. Established in 1981, Infosys is a NYSE-listed Indian multinational information technology and consulting company with about 25,000 employees. The company has a presence in over 50 countries. Nilekani has long worked with Indian authorities to help craft digital policies, including the Aadhaar biometric identity program. He also chai

PRESS RELEASE. Bitcoin.com Exchange is ecstatic to announce the listing of STAK, being available to trade on the 7th June 2021 at 10:00AM UTC. STAK was created by the Jigstack team, as the driver and as its governance token, incorporating a variety of specific DeFi protocols under one Jigstack umbrella. STAK will start trading with USDT as a pair . What is Jigstack? Jigstack is a decentralised autonomous organisation governing a portfolio of ethereum network assets and protocols. All assets deployed under the Jigstack brand are audited, non custodial, trusted and secure. By standardising a uniform quality with a high performance and resilient application, users all around the world can manage their finances with confidence and comfort, knowing their assets are safe and under their complete control. What is the STAK token? The term DAO stands for “decentralized autonomous organization” and can be described as an open-source blockchain protocol governed by a set of rules, creat

Over six years ago, at the Massachusetts Institute of Technology (MIT), a couple of scholars distributed $100 in bitcoin to 3,100 students. According to testimony from a few participants who held the leading crypto asset since then, the students netted 13,000% in profit. MIT Grad Who Made 13,000%: ‘Most of Us Thought It Was a Bit of a Joke’ For a very long time now, MIT has been experimenting and supporting bitcoin ( BTC ), the leading crypto asset in terms of market capitalization. In 2014, two computer science students Dan Elitzer and Jeremy Rubin distributed $100 worth of BTC to thousands of MIT undergraduates. After Rubin and Elitzer left MIT, they continued working in the cryptocurrency space. On Friday, a few of the students who held the BTC for over six years explained that they saw significant gains. One particular student, Mary Spanjers, told Bloomberg that she still has the BTC and has kept it tucked away. Spanjers said that the $100 worth of BTC before the May market

New technologies, including blockchain and cryptocurrency mining, have helped Iran to increase budget receipts and withstand foreign sanctions, according to the country’s minister for economy and finance. The high-ranking official believes the government can’t interfere with their development for too long. Government Official Cautions Against Impeding Crypto Development Over the past few years, Tehran has moved closer to reaching its income tax targets, Iran’s Minister of Economic Affairs and Finance, Farhad Dejpasand, remarked recently. He revealed that the implementation of new technologies accounts for about a third of the budget revenue growth. Commenting on the data, Dejpasand elaborated: Blockchains will account for 10 percent of the world’s gross domestic product in the next four years. As electricity consumption has increased we limited the mining of cryptocurrencies, while in the long run, we cannot stand in the way of technology development. The economy minister was re

Sina Weibo, the Chinese equivalent of Twitter, banned the accounts of several key cryptocurrency and defi influencers in the country yesterday, according to reports from local sources. This might be a continuation of the anti-crypto stance the Chinese state has been exerting since 2013, and more profoundly in the last days with the crackdown of the state on crypto trading and mining. Sina Weibo Suspends Crypto-Related Accounts Sina Weibo, the Chinese substitute for Twitter, has recently banned the accounts of a large amount of cryptocurrency and decentralized finance (defi) related accounts from its platform. This was announced by Colin Wu, a local cryptocurrency journalist, using his Twitter account dubbed “Wu Blockchain.” According to the reporter, this might be the logical continuation of the latest crackdown the Chinese government is orchestrating to ban trading and mining in its territory. Wu states the suspension of these accounts can have an impact on how Chinese traders co

Billionaire Stanley Druckenmiller has shared how he got into bitcoin and it involved famed hedge fund manager Paul Tudor Jones. When bitcoin was going up, Druckenmiller said, “I just couldn’t stand the fact that it was going up and I didn’t own it … I felt like a moron.” Paul Tudor Jones, Stan Druckenmiller, and FOMO Renowned investor Stan Druckenmiller has shared how he got into bitcoin in an interview with The Hustle published on May 26. He also shared his views on ethereum and dogecoin, as Bitcoin News previously reported . 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. When the price of bitcoin skyrocketed from $50 to $17,000, Druckenmiller described, “I just sat there aghast,” admitting, “I wanted to buy it every day.” The billionaire investor elaborated: It was going up and — even though I didn’t thi

The finance minister of Norway believes that bitcoin may experience “breakthroughs.” He noted that “There is no doubt that there is great interest in cryptocurrency both in Norway and internationally.” Bitcoin May See Breakthroughs, Says Finance Minister of Norway The finance minister of Norway, Jan Tore Sanner, suggested in an interview last week that “cryptocurrencies will at some point move past the volatility for which they’re currently known and experience a period of ‘breakthroughs,'” Bloomberg reported. He was quoted as saying: It is clear that there may be a development over time, whereby you will be able to get more stabilization mechanisms in the currencies that can lead to greater breakthroughs and upheavals in the slightly longer term. However, he noted that for the time being, cryptocurrency is not a market he would recommend consumers to enter. The finance minister added that he does not believe crypto assets will go mainstream until they are properly regulate

Investment bank Goldman Sachs recently held two roundtable sessions for chief investment officers of hedge funds. The bank found that they see bitcoin as their least favorite investment. In contrast, the latest Bank of America Fund Manager Survey found that “long bitcoin” was the most crowded trade. CIOs Reveal Their Most and Least Favorite Investments Goldman Sachs published a note Saturday after conducting a survey to find out what investments chief investment officers (CIOs) favor in the current market. Goldman Sachs strategist Timothy Moe wrote: We held two CIO roundtable sessions earlier this week, which were attended by 25 CIOs from various long-only and hedge funds. Their most favorite is growth style but least favorite on bitcoin. Besides growth style, the CIOs favored value style and then commodities. Their least favorite investment was bitcoin, followed by new IPOs, and rate-sensitive investments. The most and least favorite investments for chief investment officers.

On Friday, the well known nonprofit charitywater.org announced the launch of a celebrity-funded Bitcoin Water Trust initiative. The trust will be allowed to hold bitcoin donations to fund water projects worldwide until 2025. Charity Water Launches Bitcoin Water Trust A number of announcements were revealed at the Bitcoin 2021 conference in Miami and one announcement was from the global safe drinking water nonprofit, charity water . The organization charity water is a nonprofit that helps provide clean and safe drinking water to citizens living in developing countries. On June 4, charity water revealed a celebrity-funded Bitcoin Water Trust initiative which aims to leverage bitcoin ( BTC ) to spark a “paradigm shift in the charitable sector adopting this digital asset.” The charity said that it received its first bitcoin donation back in 2014 and since then the leading crypto asset has grown in value by more than 100x. According to the announcement, the Bitcoin Water Trust has opene

PRESS RELEASE. TimeCoinProtocol is the decentralized sharing economy protocol which aims to optimize world resource usage. Various applications can be built and run on theTimeCoinProtocol including third party applications. The project puts a strong focus on the Gig Economy and Creator Economy. The project has issued an original crypto currency called TimeCoin(TMCN) which is listed on some major exchanges and was initially financed by a few investors who invested around 4 million USD. There have been only a very limited number of tokens placed on the market so far. The project is currently focusing on a Gig Economy application called TimeTicket, Creator Economy applications called GameTomodachi, eSportStars, and VTuber Production, NeoRad. TimeTicket has more than 500,000 users in Japan and generates several million US dollars in sales. The revenue of TimeTicket has grown more than 40 times over 3 years and the business plans to expand internationally. GameTomodachi is a game play

The National Court in Spain has suspended the hearing destined to deal with the extradition request that John McAfee, the well known cryptocurrency influencer, has pending for its tax-related crimes in the U.S. The entrepreneur was apprehended in October last year in the El Prat Airport where he was going to take a flight. No new dates have been announced for the new hearing. National Court Suspends John McAfee Extradition Hearing The National Court of Spain suspended the extradition hearing of John McAfee this week for tax evasion charges, as was reported by local media. The Court alleged that due to some mistakes in managing the case, the defense would not have been in its full capacity to effectively exert its function. Javier Villalba, the lawyer of John McAfee, had not been able to get the full file of the case before the hearing. John McAfee was apprehended last year in the El Prat airport before taking a flight. Villalba criticized the way that the Spanish justice is deal

Progressive Care, a company that operates a chain of pharmacies in the United States, has announced it’s now accepting cryptocurrency for its Covid-19 rapid testing services. Customers are welcome to pay with bitcoin for the quick tests offered at its Pharmcorx locations using a dedicated QR code. Pharmacies Offer Quick Covid Tests for Bitcoin Florida-based Progressive Care Inc. announced in a press release that the company now accepts bitcoin ( BTC ) as payment for Covid-19 fast testing at its Pharmcorx locations. CEO Alan Jay Weisberg pointed out that the option will allow “those with an alternative view of payment systems to get the testing services they require.” Noting Progressive Care’s dedication to efforts against a resurgence of the virus, the executive stated: We believe in the future of blockchain technologies, generally speaking, and we want to extend our market-leading services in rapid Covid-19 testing solutions to those who prefer to pay through Bitcoin. Weisberg

As the conversation about Bitcoin’s energy consumption reaches a fever pitch, Jack Dorsey’s payment provider Square has unveiled plans to fund a sustainable bitcoin mining facility in conjunction with Blockstream. Mining Project to Serve as Scalable Proof of Concept Bitcoin faces no shortage of consternation, but the spat over the cryptocurrency’s footprint spilled out into the public over the last few weeks following comments from Elon Musk. Although U.S. miners have come together to form the Bitcoin Mining Council following Musk’s critique by promising more transparency on mining’s energy use, Jack Dorsey’s Square plans to lead the way in terms of substantive action. Instead of jawboning the crypto up and down, Dorsey is putting Square’s reputation on the line with an investment allocation to a sustainable mining initiative. The payment giant revealed plans to invest $5 million in a solar-energy-based mining facility in partnership with Blockstream, which will be responsible f

The G7 finance ministers and central bank governors have met and agreed to work towards common principles for state-backed digital currencies and publish their conclusions this year. They said these digital currencies “could act as both a liquid, safe settlement asset and as an anchor for the payments system.” G7 Setting Common Rules for Central Bank Digital Currencies The G7 finance ministers met in London on June 4-5, the first face-to-face meeting of finance chiefs since the G20 finance leaders met in Saudi Arabia in February last year. The meeting followed the one held virtually on May 28 where the G7 finance ministers and central bank governors attended. The G7 comprises the U.S., U.K., Japan, Germany, France, Italy, and Canada. Among the topics they discussed was central bank digital currencies (CBDCs), according to the G7 Finance Ministers and Central Bank Governors Communiqué published Saturday. “Innovation in digital money and payments has the potential to bring significa

Tony Hawk, the American professional skateboarder often referred to as ‘Birdman,’ discussed bitcoin at the Bitcoin 2021 conference in Miami and told the crowd he got into the crypto economy in 2012. Hawk said he heard about the crypto asset after reading about the Silk Road marketplace and at the time, he said to himself bitcoin is the “future of finance.” Tony Hawk Discovered Bitcoin in 2012, Professional Skateboarder Gave Some to Charity in 2014 The popular skateboarder Tony Hawk spent some time with bitcoiners this past weekend at the multi-day Bitcoin 2021 conference held in Miami. During Hawk’s speech at the event, he explained how he was “living the dream” when he was skating for a living. He compared this passion to people involved with bitcoin and said: I embraced the idea that skateboarding was for misfits. I felt like a misfit as a kid. I felt like I found my community, my tribe. At the conference, Hawk discussed the cryptocurrency revolution with the cofounder of Augu