Democratizing finance has been a dominant theme in recent years — with companies vying to create a level playing field and give amateur investors the same opportunities that hedge funds and institutional investors enjoy. There have been some successes along the way. Purchasing stocks is...
Did a massive Chinese power outage cause Bitcoin’s crash down to $50K?
Popular crypto market analyst Willy Woo noted reports identifying the blackouts were published late last week, with the power outages occurring to facilitate safety inspections in response to a recent flooding accident at a local coal mine that saw 21 miners temporarily trapped underground after...
ASIC calls for closer engagement, but crypto industry says rules are unclear
The Australia Securities and Investments Commission, or ASIC, is urging local blockchain and crypto firms to engage with regulators to help them foster innovation in the region. Speaking at the Australia Blockchain conference on Monday, Jonathan Hatch, senior advisor of strategic intelligence at the ASIC, emphasized...
Crypto users demand reinstatement of Pakistani government adviser following sudden resignation
Many users on social media have started an online campaign for Pakistan Prime Minister Imran Khan to bring back pro-crypto adviser Zia Ullah Bangash. On Saturday, Bangash, the science, technology, and information technology adviser to Mahmood Khan, the chief minister of the Khyber Pakhtunkhwa province, announced he...
Dogecoin, CryptoCurrency Reddit communities surge as crypto euphoria heats up
With much of the market fixated on Bitcoin’s (BTC) sudden price correction over the weekend, retail interest in digital assets appears to be on the rise, according to the latest statistics from Reddit. The r/dogecoin community added 145,859 weekly subscribers, according to Subreddit Stats. The...
Top 5 cryptocurrencies to watch this week: BTC, VET, SOL, EOS, FTT
Bitcoin (BTC) price witnessed a sharp dump to $50,900 on April 18, which some analysts attribute to a drop in hash rate and rumors of possible action by United States regulators against unnamed “financial institutions” alleging crypto-related money laundering. While it is difficult to pinpoint...
China is studying crypto as an investment tool, says PBoC deputy governor
Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets. According to Chinese journalist Colin Wu, Li made the comments...
Peak fear? Bitcoin funding rates crash to lowest levels in 7 months
The funding rate of Bitcoin (BTC) has dropped to levels not seen since September 2020 as the price of Bitcoin plummeted below $52,000 on April 18. Quant trader and analyst Lex Moskovski says it shows fear has returned to the market. According to the data from...
More IRS summonses for crypto exchange account holders
The United States Internal Revenue Service has been hunting crypto vigorously for more than five years now, and the pace is getting faster. A couple of decades ago, the IRS was after offshore accounts, and that effort was among the most successful in the IRS’...
SEC loses a battle to win the war? Ripple dissociates from pumping XRP
When the United States Securities and Exchange Commission filed legal action against Ripple Labs and its top-two executives in December, alleging that its XRP coin was in fact a security and that the firm had raised over $1.38 billion through an unregistered securities offering in...