Bitcoin News and Finance: What You Need to Know

Dan Nathan, the founder of Risk Reversal Advisors, says that the U.S. government will not keep allowing corporations like Elon Musk’s Tesla to replace dollars with bitcoin. They won’t “let the dollar fall away from being the reserve currency for the world,” which could happen if corporations keep replacing dollars in their balance sheets with bitcoin. US Government Will Not Let Bitcoin Replace Dollars, Says Risk Reversal Advisors’ Chief Dan Nathan offered his view on the future of bitcoin in an interview with CNBC last week. His comments followed the news of Elon Musk’s Tesla investing $1.5 billion in bitcoin and planning to allow the cryptocurrency as a form of payment for its products in the near future. Nathan is the principal of Risk Reversal Advisors, which offers consulting services to investment banks, investment advisors, and private companies. He spent the late 1990s and the 2000s as an equity and options trader at hedge fund firms SAC, Exis, Cheyne Capital, and within the...

During the last few weeks, the former Ripple executive Jed McCaleb has reportedly been selling millions of XRP tokens and every sale has been monitored by the public. On Sunday, McCaleb dumped another 38 million XRP worth $22 million after selling 95 million XRP last week worth $56 million today. Ripple Cofounder Sells 38 million Coins on Valentine’s Day The cofounder and former Ripple executive, Jed McCaleb has been a topical conversation in recent days since the founder has been selling a lot of XRP . News.Bitcoin.com has been covering a number of McCaleb’s XRP sales in December 2020 and into January 2021 . During the month of February, it has been no different, as reports have been showing McCaleb’s alleged wallet called ‘Tacostand’ making regular sales. In our last report, news.Bitcoin.com explained that the analyst Leonidas Hadjiloizou has been monitoring McCaleb’s XRP sales and tweeting about the dumps regularly. On Sunday, February 14, otherwise known as Valentine’s D...

In recent days, bitcoin cash has seen significant gains, and supporters of the digital currency have been positive about specific developments, like the internet entrepreneur Kim Dotcom’s current support. On February 11, the Chinese New Year, the prominent bitcoin mining executives, Jiang Zhuoer and Jihan Wu joined a Satoshi’s Angels discussion channel and spoke favorably about the peer-to-peer crypto-asset bitcoin cash. The well known mining executives, Bitmain cofounder Jihan Wu and Btc.top founder Jiang Zhuoer seem very bullish about bitcoin cash (BCH) , according to a couple of members from the marketing agency and umbrella organization Satoshi’s Angels . The organization Satoshi’s Angels (SA) was founded by Akane Yokoo , an organizer of the Tokyo Bitcoin Cash Meetup, and the educator and author Cindy Wang . Both of the SA founders are bitcoin cash (BCH) proponents and have educated the masses on the many benefits of the decentralized crypto asset. During the Chinese New Year...

On February 12, the well known Lebanese-American essayist and risk analyst, Nassim Nicholas Taleb, declared that the leading digital currency bitcoin is a failure, at least for now. Cryptocurrency fans have been upset by Taleb’s recent statements, after it seems the renowned author has done a complete 180 after supporting the crypto asset for years. Nassim Taleb Is Not Impressed With Bitcoin These Days Nassim Nicholas Taleb is a very popular author, mathematical statistician, and scholar. Over the years, Taleb has been very critical of today’s monetary system, the current finance industry, and the most recent financial crises. The philosopher is best known for his books “The Black Swan” (2010) and “Antifragile: Things That Gain from Disorder” (2012). After Satoshi Nakamoto released the Bitcoin network, Taleb was initially very optimistic about this emerging technology and over the years he wrote positive things about the digital asset. Nassim Nicholas Taleb’s recent critique of ...

The Spanish financial markets watchdog and the country’s central bank criticized — again — cryptocurrencies as an investment asset. The entities issued a joint statement warning about the high risks the cryptocurrency market poses. Document: Crypto Adoption as a Payment Means ‘Is Still Limited’ Per the paper , the Bank of Spain and the National Securities Market Commission (CNMV) reaffirmed their stance against considering bitcoin ( BTC ) as a means of payment. After dismissing cryptos as secure investment assets, they also pointed out the lack of regulation in the European Union. However, they recognized that the European bloc is holding talks on establishing a legal framework to regulate the crypto environment. The document elaborates on the “liquidity” factor; Many of these cryptocurrencies can find themselves lacking the necessary liquidity to be able to undo an investment without suffering significant losses, especially since their circulation among investors, both retail a...

As the Indian government gets closer to moving forward with the cryptocurrency bill, an official from the Ministry of Finance reportedly explained what discussions the government has been having regarding the crypto bill and the impending legislation. Indian Crypto Bill’s Progress Update The Indian government is getting closer to introducing the cryptocurrency bill in Parliament. On Friday, CNBC TV18 and Bloombergquint provided some updates on the status of the bill and what discussions the government has been having regarding cryptocurrency. However, both news outlets cited anonymous sources. According to Bloombergquint, “India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit the holdings … this would include a ban on transacting directly via foreign exchanges.” The publication cited “a senior finance ministry official on condition of anonymity.” The official also clarified that the ban will not be...

One of the largest darknet marketplaces for selling identity data and stolen credit card information, Joker’s Stash retired last month after making off with a cool $1 billion in cryptocurrencies. Weeks ago, U.S. and European officials seized some of the web portal’s servers tied to Joker’s Stash site, but were unable to completely shut operations down. Darknet Market Joker’s Stash Closes Shop A number of reports indicate that the world’s largest darknet market (DNM), in terms of stolen credit card and identity sales, has called it quits after operating since 2014. Joker’s Stash explained in mid-January that the business would be closing shop in mid-February and it has followed through with the plan. The blockchain analysis firm Elliptic detailed that the Joker’s Stash raked in more than $1 billion in cryptocurrencies during its tenure. Elliptic also revealed that the estimate was a conservative calculation based on the revenue Joker’s Stash took in during the years and all the fe...

Blockchain analysis firm, Chainalysis’ latest crime report has named Mirror Trading International (MTI) as the biggest cryptocurrency scam of 2020. Chainalysis arrived at this conclusion after an investigation found that MTI had taken in $589 million from more than 471,000 deposits. According to the report, MTI’s haul is significantly higher than that of Forsage and J-enco, the next biggest scams. Both scams raked in less than $350 million each. More South African Victims Meanwhile, in the report’s brief focus on MTI, Chainalysis reveals that more than half of MTI’s web traffic had originated from South Africa. On the other hand, Canada, Mexico, the United Kingdom and the U.S together account for nearly a quarter of the remaining web traffic. Using this web traffic data, the blockchain analysis firm concludes that “most MTI victims hail from these countries in similar proportions as well.” Separately, the blockchain analysis firm’s report also found that the BTC that was sent to...

The U.S. Securities and Exchange Commission (SEC) could investigate Elon Musk over Tesla’s $1.5 billion bitcoin purchase, some legal experts have warned, including a former SEC enforcement officer. Given the timing of Tesla’s bitcoin purchase and Musk’s multiple tweets on the subject, some say that the SEC will look into the matter. Elon Musk Could Face an SEC Probe Regulators could probe Tesla CEO Elon Musk over his company’s bitcoin purchase, the Telegraph reported Tuesday. Last week, an SEC filing reveals that Tesla bought a substantial amount of bitcoin in January. “We invested an aggregate $1.50 billion in bitcoin … we expect to begin accepting bitcoin as a form of payment for our products in the near future,” the filing reads. Doug Davison, a partner at Linklaters and a former branch chief of the SEC’s division of enforcement, explained: It would not be surprising – given the focus on the chief executive’s tweets, bitcoin pricing and recent dramatic market moves – for the ...

Former presidential candidate Andrew Yang is running for mayor of New York City. He has promised that as mayor he would invest in making the city “a hub for bitcoin and other cryptocurrencies.” Yang is also pro-universal basic income (UBI) and wants to launch “the largest basic income program in history.” Andrew Yang Promises to Turn New York City Into a Bitcoin and Crypto Hub as Mayor Entrepreneur and former presidential candidate Andrew Yang is running for mayor of New York City. The Democratic primary is on June 22. He ran for U.S. president in the 2020 election before dropping out early last year. Yang tweeted Thursday: “As mayor of NYC – the world’s financial capital – I could invest in making the city a hub for BTC and other cryptocurrencies.” “I am running for mayor because I see a crisis – and I believe I can help,” Yang explained on his campaign website. The pro-bitcoin candidate moved to New York City 25 years ago. Yang has long been a proponent of bitcoin. Early last...

Bitcoin payments service provider Bitpay has added support for Apple Pay. Holders of a Bitpay prepaid Mastercard in the U.S. can now add it to their Apple Pay app to make payments for goods and services. Bitpay says that Google Pay and Samsung Pay will also be added in the near future. Bitpay Cardholders Can Now Use Apple Pay Bitpay announced Friday its support for Apple Pay. U.S.-based Bitpay debit card users can now add their Bitpay card as a funding source inside their Apple Pay app. This will allow them to make online and in-store purchases with cryptocurrencies wherever Apple Pay is accepted. The announcement states: US cardholders of the Bitpay prepaid Mastercard can add their card to Apple Wallet and spend with Apple Pay. With Apple Pay, Bitpay cardholders can make secure purchases in stores, in apps, and online. The company explained that while new Bitpay customers wait for their plastic card to arrive, they can add virtual cards to Apple Wallet via the Bitpay Wallet app...

PRESS RELEASE. DeFi Yield Protocol (DYP) is a decentralized yield farming platform that allows liquidity providers to earn rewards in Ethereum and its native token DYP. It offers a solution to the risk involved in Yield Farming by offering different options for investors to earn while maintaining full decentralization of its platform. DYP users can bank on the anti-manipulation feature that ensures that the volatility of tokens is controlled and prevents whales from taking over its token price mechanism (DYP). Massive Earning Potentials via Staking Pool DYP has been able to generate massive buzz since its launch in 2020. The yield farming protocol launched its staking pool in December, and liquidity providers have earned immense rewards on their stakes. As of Feb 3, 2021, over $63 million worth of crypto-assets have been staked in DYP smart contracts making it one of the fastest-growing yield farming platforms. DYP has distributed over 2,575 ETH worth around $4,206,003 since its ...

On February 12, the founder of the now-defunct file-sharing website Megaupload and cryptocurrency proponent, Kim Dotcom tweeted about a new website he created that shows the upside of bitcoin cash. The web portal whybitcoincash.com highlights why people should join the digital money revolution and how “cryptocurrencies stand to transform the way business and individuals exchange value.” Kim Dotcom Launches Whybitcoincash.com In mid-January, news.Bitcoin.com chatted with Kim Dotcom and he discussed how he planned to “accelerate” the mission of peer-to-peer electronic cash. Dotcom has been very vocal about his support for bitcoin cash (BCH) and before our interview, the internet entrepreneur said his next-generation content monetization app K.im will see bitcoin cash ( BCH ) integration. Dotcom has continued to pursue accelerating bitcoin cash adoption and on Friday, Dotcom told his 700,000 Twitter followers about his new website. “Many people are asking me why I’m supporting Bitc...