A flash weekend bitcoin crash that wiped out a fifth of its value and caused $2 billion worth of positions to be liquidated has soured investor expectations of a massive run-up in the world’s largest cryptocurrency into the year-end.
Posts published in “cryptocurrency”
The top executives of eight major cryptocurrency firms, including Coinbase Global Inc (COIN.O), will testify before the United States House Financial Services Committee on Dec. 8, the panel announced on Wednesday.
Cryptocurrencies survived one of the largest market shocks since the earliest days of the pandemic last week, with El Salvador a notable dip buyer, while investors decided not to share Adidas’ excitement over a foray into the buzzy metaverse.
Bitcoin tumbled over 9% on Friday, dragging smaller tokens down, after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar.
Decentralized finance (DeFi) platforms have been the target of criminal attacks this year. Investors in the blockchain-based form of finance have lost billions of dollars to criminals that target the platforms.
Police in Catalonia are investigating the theft of a bitcoin ATM in a wealthy Barcelona neighborhood on Friday, Nov. 12, 2021, at around 3 AM. The ATM was located in a brick-and-mortar crypto exchange outlet belonging to Grayscale Bitcoin Trust in the Sarria neighborhood. A video claimed to be depicting the robbery showed an SUV colliding with closed shutters of the exchange’s storefront, followed by six men who carried the machine into another car that was nearby. Police declined to comment on the investigation to the local media.
Cryptocurrency mining is a highly energy intensive process that requires computers to solve complex algorithmic problems in order to add to the blockchain and receive cryptocurrency tokens. This process is necessary both to create new tokens and to register transactions on the blockchain.
Forex Suggest looked at some of the most popular cryptocurrencies currently on the market to see how they compare in terms of CO2 emissions, in its Global Impact of Crypto Trading research. Each cryptocurrency uses a different amount of electricity to process a transaction and mine new tokens. This depends on the process that each cryptocurrency uses to add to the blockchain, with some methods being more complex and energy-intensive than others.
Information reaching us says Some banks in the country have started shutting down accounts believed to be linked to cryptocurrency months after the Central Bank of Nigeria prohibited the trading in Nigeria.
Recall that on February 5, the Central Bank of Nigeria (CBN) released a circular addressed to banks and other financial institutions with the directive that transactions in cryptocurrencies and facilitating payment for cryptocurrency exchanges were prohibited.
Inflows into bitcoin products and funds have hit a record $6.4 billion so far this year, data from digital asset manager CoinShares showed, as investors bought the cryptocurrency on more widespread government acceptance and positive momentum.
Bitcoin inflows totalled $95 million last week, representing the largest inflows of all digital assets, while inflows during an eight-week bull run for the cryptocurrency were $2.8 billion, the CoinShares data showed on Monday.