Browsing:Bitcoin

Coinbase CEO Brian Armstrong
3 days ago 1 min read

Coinbase CEO reveals that the exchange holds $39.9 billion in Bitcoin following FTX Fall

In a letter to shareholders, Coinbase CEO Brian Armstrong revealed the company’s $39.9 billion worth of Bitcoin holdings. Following widespread market efforts to be transparent in the wake of the FTX crash, the letter was eventually made public. The CEO of Coinbase made the Bitcoin total announcement and emphasized the company’s open status via Twitter. In addition, he then cautions clients to exercise caution when relying on any financial information that isn’t directly from the business. Coinbase CEO Brian Armstrong took to Twitter to address the significant market response to the closure of the cryptocurrency exchange FTX, saying, “We all

Kaspersky report on crypto-related topics
3 days ago 1 min read

Crypto-related cybercrime will not slow down in 2023, but will shift away from Bitcoin as a payment method: Kaspersky

According to the cybersecurity firm Kaspersky, crypto-related cybercrime will not slow down in 2023, but it will shift away from Bitcoin as a payment method. Bitcoin (BTC) is expected to become a less appealing payment option for cybercriminals as regulations and tracking technologies improve, limiting their ability to move funds safely. In a November 22 report, cybersecurity firm Kaspersky stated that ransomware negotiations and payments would rely less on Bitcoin as a means of transferring value as increased digital asset regulations and tracking technologies force cybercriminals to shift away from Bitcoin and toward other methods. In addition, Kaspersky noted that

Netherlands Public Prosecutor
4 days ago 1 min read

The Netherlands Public Prosecutor arrests a citizen for allegedly laundering money with bitcoin

A man was arrested in the Netherlands for allegedly laundering money with bitcoin (BTC). Prosecutors claim there were links to dark web trading. According to a statement from the Fiscal Information and Investigation Service, the 42-year-old man from the municipality of Midden-Groningen was arrested on November 16. The investigation was launched after the man used several Bitcoin ATMs. An investigation revealed that the man had been making large volumes of bitcoin trades through exchanges for a long time and possessed far more bitcoin than he could have purchased with his current income. The English version of the document published states,

Mayowa crypto analyst
4 days ago 3 mins read

Exclusive Interview with Adenle Mayowa, a crypto and Business Risk Analyst for a startup project

My name is Adenle Mayowa, I am a cryptocurrency and business risk analyst for a startup project. I am also a blockchain enthusiast. When did you start your journey into cryptocurrency? I began in 2017 as a trader. I was able to use my skills in technical and fundamental analysis to trade crypto thanks to my experience in FOREX trading. I gradually started reading more about blockchain technology and its applications. Over the years, I have worked with some blockchain-related companies, including Lbank Exchange Labs (VC arm). What are your major challenges as a Nigerian Crypto Expert in UAE? Since

GrayscaleLogo Logo
5 days ago 2 mins read

Grayscale remains mum on reserves amidst speculations

Grayscale has chosen an alternative route to deal with industry speculations regarding its operational viability. Its business longevity was put into question following the collapse of FTX. Panic quickly spread across the board, with investors seeking assurance that the firm would not fold in the same manner. Grayscale was quick to dismiss the scenario by branding it unlikely and nearly impossible, due to regulations it maintains across its various entities. Grayscale further elaborates that each of its products are duly registered as a separate entity with its own unique regulations. The regulations prohibit underlying assets from being sold, loaned, or

Grayscale Bitcoin
1 week ago 2 mins read

Grayscale claims security concerns as the reason for not providing on-chain proof of reserves

Grayscale published a letter from Coinbase Custody attesting that each of Grayscale’s cryptocurrency products is fully backed. Grayscale Investments, a cryptocurrency investment product provider, has refused to provide on-chain proof of reserves or wallet addresses to demonstrate the underlying assets of its digital currency products, citing “security concerns.” Grayscale laid out information regarding the security and storage of its crypto holdings in a November 18 Twitter thread addressing investor concerns and said all the crypto underlying its investment products are stored with Coinbase’s custody service, but stopped short of revealing wallet addresses. Grayscale’s move comes as pressure mounts on the

cryptocurrency-exchange-platform-market
1 week ago 5 mins read

Global Cryptocurrency exchange platform Market Size to grow USD 347.5 Billion by 2030 | CAGR of 30.08%

New York, United States , Nov. 16, 2022 (GLOBE NEWSWIRE) — The Global Cryptocurrency Exchange Platform Market Size to grow from USD 32.77 billion in 2021 to USD 347.50 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 30.08% during the forecast period. The sector is expanding due to growing public awareness of cryptocurrencies and their benefits, including flexibility and security. Due to the development of blockchain technology, there is a great emphasis on safe and decentralized networks, which is positive for market expansion. The demand for the cryptocurrency exchange market is expected to rise as digital assets such as

Michael Saylor talks bitcoin after FTX crash
2 weeks ago 2 mins read

Michael Saylor discusses crypto after the FTX saga

Michael Saylor, co-founder and former CEO of MicroStrategy, discussed his views on the value of cryptocurrencies in an interview with Natalie Brunnel on the podcast show Coin Stories after FTX’s demise. When Brunnel asked Saylor what the most important lesson from the FTX crash was, he responded that the previous week’s significant decline in FTX had shown both the virtues of Bitcoin and the vices of crypto. The fact that money under human control cannot be trusted in its entirety is “an incredibly expensive lesson,” he continued, as well as the “basic fundamentals of monetary theory and banking.” He continued

Elon Musk says bitcoin will make it
2 weeks ago 1 min read

Elon Musk says “BTC will make it, but it might be a long winter”

Elon Musk responded to a tweet about Bitcoin (BTC) by saying it will “make it.” The owner and CEO of Twitter predicts that the crypto winter will be long. Musk made the comments during a conversation with angel investor Jason Calacanis and artist D. A. Wallach. Calacanis started the conversation by asking where BTC might be in a year, given that it has already dropped from $69,000 to $16,000 in the last year. Furthermore, in response to a user’s joke question about Dogecoin (DOGE), Musk stated that he feels the same way about the memecoin. Musk became noticeably more involved

CEO of FTX
2 weeks ago 1 min read

FTX files for bankruptcy after CEO Bankman-Fried resigned

In a notice posted to the FTX official Twitter account this morning, the company announced that Sam Bankman-Fried would step down as CEO of the FTX Group. According to the note, approximately 130 companies affiliated with Bankman-Fried’s FTX Group have also filed for voluntary bankruptcy. FTX has “valuable assets that can only be effectively administered in an organized, joint process,” according to new CEO John J. Ray III, who also noted that the Chapter 11 proceedings do not include LedgerX LLC, FTX Digital Markets Ltd, FTX Australia Pty Ltd., and FTX Express Pay Ltd. FTX is said to have a

Founder of MicroStrategy
2 weeks ago 1 min read

Founder of MicroStrategy: ‘the crypto industry needs to grow up’

MicroStrategy founder and Bitcoin enthusiast Michael Saylor appeared on CNBC’s “Squawk on the Street” to discuss the latest developments in the cryptocurrency space. To elicit a response from Saylor, the CNBC host began the interview by recapping recent news in the ecosystem, including the collapse of cryptocurrency exchange FTX, RippleFX, and the plummeting price of Bitcoin. Saylor begins by stating that the events of the past week highlight the vulnerability of the cryptocurrency landscape. “Because Bitcoin is a commodity, you can self-custody it without an issuer,” Saylor began. He went on to say that the vast majority of crypto tokens

Peter Schiff
2 weeks ago 1 min read

Peter Schiff advises his followers to sell all their Bitcoin following Block.fi’s announcement

Following Block.fi’s announcement about its inability to conduct business as usual, prominent Bitcoin and crypto critic Peter Schiff has been actively pushing the selling narrative to his followers. Schiff also stated that there will be much more in the near future and advised his subscribers to sell all of their Bitcoin (BTC) if they still have any on exchange, if at all possible. FTX is currently the only exchange in the top ten that is unable to process withdrawals at full capacity. Obviously, the situation surrounding Block.fi is the result of the FTX’s insolvency. The crypto lending and borrowing platform

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