Category: Blockchain

With interests in Bitcoin (BTC) skyrocketing, leading the cryptocurrency to set a new all-time (ATH) of above $51,000, large financial institutions, especially banks, are considering offering Bitcoin-related services.  Co-founder of Elliptic, Tom Robbinson, told Telegraph today that several global financial institutions have reached out to him to explain the compliance risk of launching Bitcoin services.  “I’ve seen a massive uptick in inquiries from several financial institutions that are seriously considering launching some type of cryptocurrency service,” he said.  According to Robbinson, Asian banks first indicated an interest in offering bitcoin-related services four months ago, followed by US financial institutions, which started

Strategists from JPMorgan Chase have recently opined that the largest cryptocurrency by market cap, Bitcoin (BTC), needs to disassociate from its increased volatility to sustain its current bull run.  The strategists led by Nikolaos Panigirtzoglou noted in a report that BTC’s current price of above $51,000 is “not sustainable” unless the cryptocurrency eases its high volatility.  BTC Volatility Not New, Sparks Controversy BTC’s volatile nature has been a major topic of discussion among global financial experts since 2017.  The asset, which spiked as high as almost $20,000 in early 2018, plunged below $10,000 that year.  This unfavorable price swing has sparked debate

Finally, Bitcoin kissed $50,000 to create a new all-time high on February 16, while yet another fiat currency entered the seven-figure zone against BTC. The new all-time high followed Microstrategy’s announcement that the company is planning to raise $600 million in convertible notes and use the proceeds to go Bitcoin shopping. The company already holds over $1.5 billion in bitcoin. Last week, BNY Mellon disclosed that it would store crypto-assets for its clients. This announcement made Bitcoin surge by 5% to test the $50,000 resistance level, marking the first, second time BTC firmly tested that resistance level. That earlier effort

Crowdfunding is often referred to as a funding source to launch a new venture or business. The startups and new entrants in the business get small sums of money from several people to support such an endeavour. Crowdfunding, for all practical purposes, functions in the same way as the Initial Coin Offering or ICO of the cryptocurrency portfolios or platforms. The ICOs give huge returns to those invested in it. But the ICOs also have a wide range of benefits that the investors in cryptocurrency can reap. However, often cryptocurrency dealing causes problems as a section of people indulges in

Bitcoin’s pseudonymity, since its creation is one scoring point for the cryptocurrency considering its holders are confident that no company or government can get a hold of their money because of the network’s decentralized nature. However, a recent announcement by the president of the European Central Bank (ECB) in an interview at the Reuters Next conference questions Bitcoin’s pseudonymity. President Christine Lagarde stated that Bitcoin should be regulated globally, for reasons that criminals use the digital currency for money laundering and so precautionary actions should be taken to stop future occurrences. Due to the recent upsurge in the price of BTC in

German authorities have arrested the operator of DarkMarket, a dark web marketplace that helped criminals process illicit transactions amounting to more than $164 million in cryptocurrencies.  The DarkMarket operator, a 34-year-old unnamed Australian was arrested near the German-Danish border over the weekend in a joint international operation involving several nations, such as Germany, Australia, Denmark, Moldova, Ukraine, the U.K., and the U.S.  According to a Europol report today, the illegal dark web marketplace has been taken offline by officers of the cybercrime unit of the Koblenz Public Prosecutor’s Office.  Before the platform was taken down, it had nearly 500,000 users

Scammers on the dark web have taken advantage of the ongoing pandemic to defraud victims, claiming to sell unspecified doses of the COVID-19 vaccines for sums as high as $1000 worth of bitcoin. According to a Wednesday report, researchers from the cybersecurity firm, Check Point, discovered that these scammers have been putting out ads for the vaccines and asking for payments in bitcoin. As per the report, the Check Point researchers had reached out to a vendor via the encrypted messaging app, Telegram, and were offered an unspecified dose of vaccine for $750 worth of bitcoin. However, once the bitcoin

According to The New York Times, Stefan Thomas, a San Francisco-based programmer, lost access to his Bitcoin because of a forgotten password. The private keys to his 7,002 Bitcoin now worth about $220 million, due to the recent price surge, is locked in a small hard drive called IronKey. The IronKey wallet has a feature that allows owners who forget their passwords to attempt 10 guesses. Failure to get the password right on the 10th attempt, the wallet seizes up its contents indefinitely. Thomas revealed that he lost the paper where he stored the