[ad_1] JP Morgan is bullish on Bitcoin, SpaceX launches the first crypto satellite and guess which CEO served pizzas on the 12th Bitcoin Pizza Day? These stories and more this week in crypto. JP Morgan is Bullish on Bitcoin Global investment bank, JP Morgan, published a positive note on cryptocurrencies. The bank’s strategists wrote that the past month’s crypto market correction looks more like capitulation and going forward they see upside for bitcoin and crypto markets in general. The firm has also proclaimed cryptocurrency as its preferred alternative asset class along with hedge funds. SpaceX Launched the First Crypto Satellite…
Author: Robert McCracken
[ad_1] Crypto banks could join the central banking system, Huobi’s stablecoin briefly loses its peg, and Bitcoin now has over 1 billion unique wallet addresses. These stories and more this week in crypto. Sudden Crypto Crash Takes Bitcoin Below 21,000 Bitcoin fell to its lowest level in three weeks, dipping below $21,000 amidst a sudden sell-off across the broader crypto market. It’s not clear what caused the drop in crypto prices as the move comes just days after Bitcoin surpassed the $25,000 mark for the first time since June. Central Banking System Could Embrace Crypto Banks The Federal Reserve…
[ad_1] Telegram moves into Web3, half of Bitcoin’s trading volume could be fake and an ex claims that John Mcafee faked his death. These stories and more this week in crypto. Bitcoin Drops Following Fed’s Warning Federal Reserve chair, Jerome Powell, warned households and businesses to prepare for pain as the US central bank aims to bring down inflation. Bitcoin dropped almost 5% in the two hours following Powell’s keynote address at the Fed’s conference on Friday. Telegram Moves Into Web3 Popular chat app, Telegram, will allow custom usernames, groups, and channel links to be traded on the blockchain as…
[ad_1] JP Morgan says to dump crypto, Colorado gas firms are mining Bitcoin and Crypto.com issues a $10 million refund by mistake. These stories and more this week in crypto. JPMorgan Strategist Bearish on Crypto David Kelly, chief global strategist at JPMorgan, claims that investors should sell their crypto, according to a new Bloomberg report. Kelly is convinced that the persistent hawkishness of the U.S. Federal Reserve will spell more trouble for digital assets, expecting more volatility and a high risk of a recession. Colorado Gas Firms Are Mining Bitcoin Colorado Sun reporter, Mark Jaffe, has found numerous Colorado gas…
[ad_1] New York could ban Bitcoin mining, Japan regulates stablecoins and could Bitcoin become legal tender in 3 years? These stories and more this week in crypto. New York Passes Bill on Bitcoin Mining Lawmakers in New York have passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The bill calls for a two-year moratorium on mining operations which use proof-of-work methods. If Governor Kathy Hochul signs it into law, it would be the first state in the US to ban any kind of blockchain infrastructure. The parliament of Japan has approved a…
[ad_1] PayPal finally allows external crypto withdrawals, regulators investigate Binance over BNB issuance and what do billionaires think about crypto investments? These stories and more this week in crypto. PayPal Allows Crypto Withdrawal PayPal is finally allowing cryptocurrency holders to transfer their digital assets from its platform to other wallets and exchanges. The option to move crypto from PayPal to external wallets was the feature most often requested by users since the fintech giant went live with its crypto buy, sell and hold service in October 2020. US Probes Binance Over BNB US regulators are investigating whether Binance broke any…
[ad_1] Celsius pauses withdrawals, a crypto hedge fund faces insolvency but a Bank of America survey shows crypto interest is still strong. These stories and more this week in crypto. Celsius Pauses Withdrawals Crypto lending platform, Celsius, announced that it had paused all withdrawals, swaps, and transfers between accounts, blaming “extreme market conditions.” While investors were without access to their money, the platform’s native token, CEL, dropped 70% in value within an hour of the announcement, triggering another wave of panic across the crypto market. Crypto Hedge Fund Got Liquidated One of the largest digital currency hedge funds, Three Arrows…