“Cryptocurrency is a scam and always has been,” are the words used by Dogecoin creator Jackson Palmer to describe the burgeoning digital currency ecosystem, as he resurfaced on Twitter after two years of absence. But Palmer didn’t stop there. He described cryptocurrency industry to be “a right-wing, hyper-capitalistic system, serving the protection of powerful cartel […]
Cryptocurrency
The UAE’s Central Bank announced on Monday plans to rollout a new digital currency in accordance with its monetary 2023-2026 strategy, according to the state-run WAM news agency. However, while the report surfaced for a short period of time, the state-run news agency had pulled it from its platform for unknown reasons. In preparation for the digital […]
Crypto traders are seeking reparation from Binance to enforce regulations and accountability on the crypto exchange platform following Bitcoin’s latest plunge from $64,000 per coin to almost $30,000 per coin by end of May. Since modernity is one of the leading factors of cryptocurrency’s extended influence, traders count on crypto market to safeguard their digital funds as it is decentralized and not tracked by any governmental sector. On […]
U.S.-based hardware company Square Inc announced on Tuesday plans to create a hardware wallet for Bitcoin, following a U.S. senator’s warning about imposed cryptocurrency threats on consumers and financial markets. The U.S. based financial service and digital payments company Square Inc — announced via one of its lead’s Twitter account– its plan to create a […]
Israel said Thursday it will begin seizing cryptocurrency accounts used by the Palestinian Hamas group to raise money for its armed wing. Israeli Defense Minister Benny Gantz ordered security forces to seize the accounts after a joint operation “uncovered a web of electronic wallets” used by Hamas to raise funds using bitcoin and other cryptocurrencies, […]
Bitcoin mining difficulty has decreased by 28 percent, considering the recent drop-in hash rate caused by China’s declaration in May to clamp down on mining and trading. This difficulty adjustment was the largest in its history with more than 54 percent of bitcoin’s hash rate, which is the collective computing power of miners worldwide, has […]
As cryptocurrency market is one the rise, Bank of France governor fears France is running out of time to regulate its cryptocurrency policy. Francois Villeroy de Galhau; Governor of France’s central bank spoke in Europlace financial conference about the importance of “considering crypto regulations as a priority or risk digital assets challenging its monetary sovereignty.” […]
Popular cryptocurrency exchange company Binance has been baned by the UK’s Financial Conduct Authority (FCA), citing claims that it is not authorized to undertake any regulated activity in Britain, a statement by the watchdog said late last week. Binance is one of the main cryptocurrencies exchanges that provides a platform for trading various cryptocurrencies. Despite […]
Mexico’s central bank on Monday swatted down the cryptocurrency enthusiasm expressed over the weekend by one of the country’s leading bankers. Ricardo Salinas Pliego, a magnate with large operations in retail, banking and television who has been seen as President Andrés Manuel López Obrador’s closest business ally, wrote in his social media accounts Sunday that […]
Just around one month ago, Tesla stopped accepting Bitcoin as payment for vehicles citing precisely environmental concerns as the main reason. The reason for this is that Bitcoin, and in fact, most cryptocurrencies, use an energy exhaustive method to mine and complete transaction. The creation of new Bitcoins, or mining, is essentially rewarding the user, […]