Bitcoin News and Finance: What You Need to Know

On June 13, the billionaire investor and co-host of the television series Shark Tank, Mark Cuban, explained his fascination with decentralized finance (defi) in an editorial published to his blog. Cuban details that many defi organizations are different because they are not corporate entities or based in the United States. He believes that “no one owns majority control” of these operations which makes them “permissionless” innovations. Mark Cuban Sees Massive Potential When It Comes to Permissionless Finance The entrepreneur Mark Cuban has been in the crypto space for quite some time now, and a recently published blog post explains he is focused on defi innovation and decentralized exchange (dex) platforms . Cuban wrote an opinion piece on his blog called: “The Brilliance of Yield Farming, Liquidity Providing and Valuing Crypto Projects,” which explains the defi universe from his point of view. Cuban stressed that yield farming via staking and liquidity providing are the core feat

Investment bank JPMorgan Chase is stockpiling cash according to the company’s CEO Jamie Dimon. The investment banker doesn’t seem to believe inflation is “transitory” and he thinks there’s a “very good chance” inflation could stick around. JPMorgan Chase CEO: ‘I Do Expect to See Higher Rates and More Inflation’ At the end of April, Bitcoin.com News reported on the Federal Open Market Committee (FOMC) and explained how FOMC members said the benchmark interest rate will be kept near zero. Moreover, members of the FOMC also said the committee wasn’t too concerned about inflation, but admitted inflation may have “transitory effects” on the American economy. JPMorgan Chase’s boss doesn’t believe this is the case, according to his recent statements. While telling the public he warned people about cryptocurrencies at the end of May, Dimon recently warned of runaway inflation , alongside Larry Summers’ inflation predictions. On Monday during a conference, Dimon reiterated his inflation

On Monday, Jurrien Timmer, director of global macro at Fidelity and co-manager of the Fidelity Global Strategies Fund, told his 56,000 Twitter followers his perspective on the current bitcoin prices. “In my view, it looks like the bottom is in,” the Fidelity executive explained, sharing a BTC /USD chart. Fidelity’s Jurrien Timmer Attempts to Call Bitcoin’s Bottom In mid-April, bitcoin ( BTC ) prices touched an all-time high at $64,895 per coin and then plummeted to $30,066 per unit on May 19. The price of BTC has not fallen below the $30K threshold but a number of investors have speculated that it could. There’s been a few predictions noting that $20K BTC prices could be in the cards, while others are still hopeful BTC will achieve six-digit values by the end of the year. On Monday the director of global macro at Fidelity, Jurrien Timmer, tweeted that he believes bitcoin’s price has dropped to its lowest point. “In my view, it looks like the bottom is in,” Timmer tweeted . Of

Microstrategy Inc. is selling up to $1 billion of its common stock, MSTR, with the aim to use some of the net proceeds to buy bitcoin. The Nasdaq-listed company also recently completed a $500 million secured notes offering and will use the proceeds to acquire bitcoins. Selling MSTR Stock to Buy Bitcoin Microstrategy Inc. has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to launch an “‘at the market’ securities offering for flexibility to sell up to $1 billion of its class A common stock over time,” the company announced Monday. The company’s class A common stock is listed on the Nasdaq Global Select Market under the symbol MSTR. MicroStrategy Launches “At the Market” Securities Offering for Flexibility to Sell Up to $1 billion of its Class A Common Stock Over Time $MSTR https://t.co/qouK8pFmBF — Michael Saylor (@michael_saylor) June 14, 2021 In the prospectus filed with the SEC for this offering, Microstrategy explained how it plans to

The Russian Foreign Minister Sergei Lavrov talked about the future importance of cryptocurrencies as an international settlements layer at the Primakov Readings Forum. Lavrov referred to these assets as having a “significant role” in the future. Russia has been striving to de-dollarize some of its activities, and this statement might offer a glimpse into future plans. Russian Foreign Minister Says Crypto Could Play Significant Role in Settlements Russian Foreign Minister Sergei Lavrov referred to the future importance of cryptocurrencies as a part of the international settlements layer. Lavrov made the reference while attending the Primakov Readings Forum last week, an important diplomat meeting. The Russian Foreign Minister was optimistic about the use of cryptocurrencies to settle debts among countries. Lavrov stated: I think the time will inevitably come when cryptocurrencies will play a very significant role, occupy a very significant segment in international settlements. R

Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies. She also urged the country’s central bank to begin the necessary preparations for a step-change in global attitudes towards banking. However, in her address of the Tanzanian finance chiefs, Hassan acknowledges that not everyone in the country is embracing crypto. The 61-year-old leader still wants them to plan ahead. She said: I know that throughout the nation, including Tanzania, they have not accepted or started using these routes. However, my call to the Central Bank is that you should start working on that development. The Central Bank should be ready for the changes and not be caught unprepared. Hassan is the latest national leader to speak favorably of cryptocurrencies after El Salvador’s Nayib Bukele. At the beginning of June 2021, Bukele told attendees of a Bitcoin 2021 conference in the U.S. that his country planned to make BTC

Twice as many European startups have achieved unicorn status in 2021 compared to last year. Despite the negative effects of the ongoing Covid crisis, young companies on the Old Continent, including several crypto unicorns, have managed to attract a record high amount of VC capital. European Unicorns Collect €32.5 Billion in 2021 This year alone, 23 companies in Europe and Israel have become unicorns (startup companies valued at over $1 billion), beating last year’s total of eight, according to a report by financial data and software firm Pitchbook . European startups have managed to attract a staggering €32.5 billion (around $39.3 billion) since the beginning of 2021. This year’s capital inflow could easily surpass the €37.6 billion raised in the whole of 2020. Of the total, 20 companies are based in Europe, including several crypto startups. The U.K. accounts for most of these unicorns, with London-headquartered Blockchain.com currently valued at $5.2 billion after securing $420

Docker, a popular cloud computing integration solution, is making changes to its free-tier service due to cryptocurrency mining abuse. The service discontinued its “autobuild” feature due to misuse by bad actors, using it to mine cryptocurrencies in their servers. This is a modus operandi that is now affecting several cloud continuous integration platforms, including GitHub, GitLab, and Microsoft Azure. Docker Forced to Make Changes to Its Free-Tier Services Docker, a popular CI cloud service, is making changes to its service policy due to crypto mining abuse. The cloud computer continuous integration service announced last week it will no longer provide its autobuild features to its free-tier service. Docker announced this in a blog post, stating the attacks have grown in recent months, affecting their paying customers. The team declared: In April we saw the number of build hours spike 2X our usual load and by the end of the month we had already deactivated ~10,000 accounts due

The Argentinian National Soccer Selection launched its official token last week, with a great reception. The token that would give fans involvement in the decisions regarding the soccer team, sold out quickly. The Argentinian National Soccer Selection is the first national team to launch its own fan token. Nonetheless, other European clubs already have their fan tokens. The Argentinian National Soccer Selection Launched Its Official Token The Argentinian National Soccer Selection, one of the most popular teams worldwide, launched its fan token last week. The token, launched in partnership with the platform Socios.com, will allow fans to have involvement in some decisions involving the team. According to a blog post from the AFA, the Argentinian Soccer Association, fans will: “Have the possibility of taking part in surveys, discounts, exclusive promotions, and unique experiences, which will only be intended for those who own these digital currencies.” The launch was a success,

HUMAN Protocol is an infrastructure to reshape how humans work, by supporting distributed job markets in which any job, of any size or type, can be securely tokenized, published, and completed. The Protocol facilitates direct, globally mapped connections that bring workers closer to the rewards of their work, organizations to workforces, and machines to understanding. HUMAN Protocol also provides the tools for better human-to-machine collaboration; within the job markets it supports, AIs can handle repetitive tasks while humans focus on specialized or creatively challenging tasks. HUMAN’s vision is to create a more human world: disintermediated yet connected, with every viewpoint and background accounted for and represented, in which all value produced is rewarded. Distributed Job Markets To improve a digital world, you must address its foundations : the mechanisms and systems through which people connect, interact, and collaborate. HUMAN enables distributed job markets, but it i

A number of lawmakers in Latin American countries have expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender. The countries include Paraguay, Argentina, Panama, Brazil, and Mexico. Tonga and Tanzania have also reportedly expressed interest in bitcoin. More Countries Eye Bitcoin Adoption After El Salvador passed the bill making bitcoin legal tender alongside the U.S. dollar, a growing number of lawmakers in neighboring countries have either expressed their interest in making a similar move or put laser eyes on their Twitter profile pictures. The laser eyes meme has swept through the bitcoin community since February with the underlying meaning that anyone donning the eyes is laser-focused on bitcoin’s price rising to $100,000. Politicians, celebrities, and investors have partaken and put laser eyes on their profile images. Gabriel Silva, Member of Parliament in Panama, tweeted congratulating El Salvador when the bitcoin law

Billionaire hedge fund manager Paul Tudor Jones says he likes bitcoin. Noting that he can trust math, the famed hedge fund manager said, “bitcoin has appealed to me because it’s a way for me to invest in certainty.” Jones also shared his investment strategies in response to the Fed’s policy. Paul Tudor Jones on Bitcoin, Fed Policy, Inflation Paul Tudor Jones, the founder of asset management firm Tudor Investment Corp., explained to CNBC Monday why he likes bitcoin. He described: I like bitcoin. Bitcoin is math and math has been around for thousands of years. 2+2 is going to equal 4 and it will for the next 2,000 years. So, I like the idea of investing in something that’s reliable, consistent, honest, and 100% certain. So, bitcoin has appealed to me because it’s a way for me to invest in certainty. “I look at the difference between the Fed in 2013 and Fed of 2021 … I look at the difference between Trump and Biden,” Jones noted. “Do I want to have faith and that same reliability a

Investment bank Goldman Sachs has reportedly unveiled its plans to expand its cryptocurrency desk to offer ether futures and options trading. The bank says “institutional adoption will continue,” noting that “Despite the material price correction, we continue to see a significant amount of interest in this space.” Goldman Sachs Gets Ready to Offer Ether Futures and Options Trading Goldman Sachs’ head of digital assets, Mathew McDermott, has reportedly revealed that the global investment bank plans to offer futures and options trading in ether ( ETH ) in the coming months, Bloomberg reported Monday. McDermott said in a phone interview with the publication Thursday: We’ve actually seen a lot of interest from clients who are eager to trade as they find these levels as a slightly more palatable entry point. We see it as a cleansing exercise to reduce some of the leverage and the excess in the system, especially from a retail perspective. The executive additionally said that Goldman

Bitcoin remittances to El Salvador jumped more than fourfold in May from the previous year, according to data from blockchain analytics firm Chainalysis. Last week, El Salvador passed a bill making bitcoin legal tender in the country alongside the U.S. dollar. The monthly bitcoin transfers of under $1,000 to El Salvador totaled $1.7 million in May, representing more than a 300% increase from $424,000 the previous year, Reuters reported, citing data from blockchain analytics firm Chainalysis. The monthly bitcoin transfers to the country peaked in March at $2.5 million. While remittances using bitcoin have soared, they are still a small portion of total remittances to the country. According to the World Bank, remittances using traditional money totaled nearly $6 billion in 2019, and about 95% of total remittances in the first quarter of this year came from Salvadorans working in the U.S. El Salvador became the first country in the world to make bitcoin legal tender when its congress

Xiong’an New Area, a state-level new area in Hebei, China, is seeing the use of onchain digital yuan payments, according to a circular issued by the Xiong’an government. The announcement details that Xiong’an subcontractors and builders are being paid using the central bank digital currency (CBDC) via the People’s Bank of China and the new area’s development management committee. Xiong’an New Area Pays Contractors in Digital Yuan It seems workers in the state-level new area in Hebei, China also known as Xiong’an New Area, are being paid with China’s CBDC. Xiong’an government officials published a circular which described the project’s testing goals. According to the announcement , the People’s Bank of China’s (PBOC) Shijiazhuang office and the new area’s development management committee are involved in the wage pilot system. The statement stemming from the Xiong’an New Area, which explains its paying builders in onchain digital yuan payments, follows the recent statements from the

Cyberthreats related to cryptocurrencies have increased with rising demand for the digital assets, a study has concluded. Russia, Thailand and Peru are the most affected countries by malicious attacks designed to exploit the heightened interest in decentralized money, the authors point out. Booming Crypto Markets Bring Out Cybercriminals Despite the ongoing Covid pandemic still leading the headlines around the world, the topic has lost some prominence in the cyberthreat landscape since the beginning of this year. At the same time, threats related to cryptocurrencies have increased alongside rising crypto prices over the past few months, shows a recent report by ESET. Mainstream acceptance, including by celebrities and executives like famous American rapper Snoop Dogg and Tesla CEO Elon Musk , has also contributed to the growing appeal of crypto assets. “Booming cryptocurrencies bring out cybercriminals,” the company emphasized in the study, released earlier this month and quoted