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The IMF has urged Ukraine to complete virtual asset legislation by the end of 2024 due to regulatory concerns and economic potential.
The International Monetary Fund (IMF) has urged Ukraine to finalize its update of legislation regarding virtual assets by the end of 2024, according to a Facebook post from Oleksandr Bornyakov, a deputy minister of digital transformation of Ukraine on IT industry development.
This requirement was outlined in the Memorandum of Economic and Financial Policies signed between Ukraine and the IMF, Bornyakov said, adding that the European international financial institution cited concerns about the current lack of regulation in the new sector, which poses risks to price stability and the effectiveness of monetary transmission.
The chief investment officer of Goldman Sachs’ Wealth Management unit does not see cryptocurrency as an investment asset class. She also believes that bitcoin “creates absolutely no value in any shape or form.” Her perspective differs from that of some other Goldman Sachs executives regarding bitcoin and cryptocurrencies.
The chief investment officer of Goldman Sachs’ wealth management unit, Sharmin Mossavar-Rahmani, discussed her perspective on bitcoin and other cryptocurrencies in a Wall Street Journal interview last week. Mossavar-Rahmani has served as the chief investment officer of Goldman Sachs Wealth Management for the past 23 years.
She compared the recent crypto enthusiasm to the tulip mania of the 1600s, dismissing it as nothing more than a means of speculation.
A new rug pull alert sounded on Tuesday after crypto detective ZachXBT unveiled on-chain details of an alleged hack suffered by an NFT project last month. The project’s CTO announced that a response was in the works but ultimately vanished as criticism grew.
On-chain sleuth ZachXBT revealed the alleged misuse of funds by the CTO of NFT project Nuddies NFT. In a now-deleted post, its CTO Kyle explained that the project was “derugged from its previous founder” and built differently from other NFT projects.
According to the crypto detective, Kyle faked a hack that seemingly stole the project’s funds. On March 3, the alleged culprit posted on the Nuddies NFT Discord server, informing us of the hack.
The post affirmed that Kyle’s Mac was hacked despite “not clicking in any malicious link.” The CTO concluded that a “zombie process” was on his computer for an undetermined period.
Forty-eight U.S. lawmakers sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler last week regarding ether (ETH) potentially being classified as a security by the Commission.
They explained that both the SEC and the Commodity Futures Trading Commission (CFTC) “have long-recognized ETH as a non-security digital asset or digital commodity.” In October 2023, the SEC also approved nine exchange-traded funds (ETFs) that provide exposure to ETH through CFTC-regulated ETH commodity futures products.
Officials seeking court order to compel Michael Patryn to detail how he acquired seized assets, including $250,200 in cash. Provincial officials in Canada are trying to force the surviving co-founder of defunct crypto exchange QuadrigaCX to explain how he came by a cash hoard, 45 gold bars and jewelry including a diamond-studded Rolex.
The Director of Civil Forfeiture in British Columbia on Wednesday sought a court order to compel Michael Patryn to detail how the seized assets — including $250,200 in cash — were acquired.
Robert Kiyosaki, author of the renowned personal finance book “Rich Dad, Poor Dad,” predicts $100,000 Bitcoin by September and views the current economic landscape.
Kiyosaki, known for his insights on wealth-building and investment, announced his plans to purchase 10 more Bitcoin before April, emphasizing the upcoming Bitcoin halving as a significant event for potential investors.
He suggests that those who cannot afford a whole Bitcoin might consider buying a fraction of one through the Bitcoin ETFs or Satoshis, hinting at the possibility of owning an entire Bitcoin by year’s end if the process unfolds as expected.
Two Democrat Senators are urging the Securities and Exchange Commission (SEC) to block any further crypto exchange-traded products (ETPs) to protect retail investors from risks associated with poor broker disclosure and thin liquidity in major cryptocurrencies.
Sen. Jack Reed (D-R.I.) and Sen. Laphonza Butler (D-CA) write that a FINRA survey disclosed that 70% of brokers’ communications with retail investors violated fair disclosure rules.
The Senators also argue that by naming bitcoin exchange-traded funds as such, the name “obfuscates important characteristics about these investments.”
“Retail investors should be made aware of how these ETPs differ from more common funds which they may have experience,” they said in the letter, writing that bitcoin is not subject to the same protections under the Investment Company Act of 1940 that ETFs which hold shares of various companies would have.
The token targets a U.S. senator who has frequently criticized the cryptocurrency industry. Meme coin traders are flocking to a derogatory cryptocurrency that attacks Elizabeth Warren, the Massachusetts senator and prominent crypto critic. Meanwhile, cryptocurrency exchange Coinbase is running awkwardly in the other direction.
The trading giant on Wednesday nixed a webpage that for a short while promoted "how to buy Elizabeth Whoren in United States." Links to the auto-generated webpage instead reverted to a more generic hub for buying crypto in general.
"These pages are automatically generated based on tokens that have been created by third parties," a Coinbase spokesperson said in a statement. "They are informational only, do not endorse any asset, and do not indicate that the assets are available for trading on Coinbase."
Warren Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World – He Considers Crypto 'Rat Poison' And Warns: 'I Can Say With Almost Certainty That They Will Come To A Bad Ending'
Buffett has been vocal about his caution toward Bitcoin and the broader cryptocurrency market, predicting a grim outcome. “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” Buffett said.
As the cryptocurrency debate rages on, with enthusiasts and skeptics voicing their opinions, the insights of experienced investors like Buffett provide a valuable counterpoint to the frenzy.
Bitcoin's bullish trend bolstered by institutional demand and shifting investment patterns. Bitcoin’s price is primed for a surge that could hit record-breaking highs this week, according to a 10X Research report shared with CryptoSlate.
The report outlines key factors driving this bullish momentum. It suggests that Bitcoin will experience a significant upswing if the outflows from Grayscale’s Bitcoin ETF drop below $100 million while substantial inflows continue to BlackRock.
These ETFs, launched in January, have notably influenced Bitcoin’s price, propelled by institutional demand. Markus Thielen, the founder of 10X Research, said this influence contributed to a notable 43% increase, amounting to $18,615, in Bitcoin’s price during February.
A new report by JPMorgan warns of a looming price correction for the world’s top cryptocurrency. Bitcoin’s price—above $63,000 on Thursday—has reached heights not seen in two years, but the coin’s upcoming halving event could push prices down to $42,000, according to analysts at JPMorgan.
“The Bitcoin production cost has empirically acted as a lower bound for Bitcoin prices,” the analysts wrote in a report released Wednesday, estimating that post-halving production costs could double to about $53,000. This could cause a 20% decline in the Bitcoin network’s hashrate, meaning fewer miners would be competing to produce Bitcoins simultaneously.
“This $42,000 estimate is also the level we envisage Bitcoin prices drifting towards once Bitcoin-halving-induced euphoria subsides after April,” the analysts wrote.
2024 has unfolded as a flourishing year for bitcoin’s valuation, as its market capitalization breezed past the $1 trillion milestone, positioning the cryptocurrency as the world’s tenth-largest asset by overall market valuation. This uptick in price has significantly boosted the net worth of Bitcoin’s mysterious creator, Satoshi Nakamoto, elevating the value of the inventor’s holdings by almost $9 billion within the last two months.
It is believed that upon the inception of the Bitcoin network, its founder, Satoshi Nakamoto, also mined the digital currency, amassing between 1 and 1.1 million BTC. The consensus among most estimates suggests that Nakamoto likely gathered around a million coins. Holding a million bitcoins places Nakamoto’s net worth at approximately $51.56 billion. Furthermore, were Nakamoto to be ranked on the Forbes Real-Time Billionaires list, the creator of Bitcoin would stand as the 26th richest individual globally.
Senator Cynthia Lummis has expressed support for Bitcoin mining in the United States, marking a significant development for the BTC mining industry.
During her remarks, Senator Lummis highlighted the innovative potential of Bitcoin mining to act as a catalyst for the energy sector. By creating demand for surplus and unused energy, Bitcoin mining operations can incentivize the development of renewable energy sources and the utilization of energy that would otherwise be wasted in turn, fosters more sustainable energy practices and contributes to the growth of the green energy sector in the United States.
Sen. Lummis is actively inviting Bitcoin miners to consider Wyoming as a prime location for their operations. Wyoming has positioned itself as a forward-thinking state in the realm of cryptocurrency and blockchain technology, fostering a regulatory environment increasingly supportive of digital asset businesses. Senator Lummis, by extending this invitation, not only advocates for the cryptocurrency sector’s growth within the state but also underscores the potential economic benefits, such as job creation and technological innovation.