February 2021 / 112 posts found

Bitcoin Ban: Bitcoin Ban Expands Across Credit Cards As JPMorgan, BofA Recoil

by crypto journalist
(Bloomberg) — A growing number of big U.S. credit-card issuers are deciding they don’t want to finance a falling knife. JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. JPMorgan, enacting the ban Saturday, doesn’t want the credit risk associated with the transactions, company spokeswoman Mary Jane Rogers said. Bank of America started declining credit card transactions with known crypto exchanges on Friday. The policy applies to all personal and business credit cards, according to a memo. It doesn’t affect debit cards, said company spokeswoman […]

Tesla fell 25% and Elon Musk lost more than $ 15 billion in one day because of Bitcoin?

by crypto journalist
February 24, 2021 3 min read This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. On Monday, Elon Musk lost his position as the world’s richest person , after losing more than $ 15 billion of his net worth in a single day. This after Tesla shares plunged more than 10% after investing 1.5 billion dollars in Bitcoin (BTC) . With the recent drop, Tesla racks up losses by 25% in just one week, according to Forbes data. Thus, the electric car company has lost about $ 215 billion in market […]

Bitcoin prints biggest hourly candle in history after BTC rebounds strongly to $54K

by crypto journalist
Bitcoin (BTC) fell below $50,000 on Feb. 22 as a correction gathered pace at Wall Street’s opening to deliver 20% daily losses prior to a strong response from the bulls.  Bitcoin loses $6,000 in minutes Data from Cointelegraph Markets and TradingView shows BTC/USD falling heavily during Monday trading, hitting lows of $47,400. After reversing at all-time highs of $58,312 on Sunday, Bitcoin fell almost $7,000 in under an hour, sparking intense volatility, which continued at the time of writing. “Almost a $7,000 hourly candle. That has to be by far the largest hourly move in history,” analyst Scott Melker reacted. Earlier, […]

177-Year-Old Swiss Bank Adds Bitcoin, Ethereum Trading – Decrypt

by crypto journalist
In brief Bordier & Cie SCmA, a Swiss bank that was founded in 1844, has added cryptocurrency trading to its list of services, according to a published today. “We have seen increasing demand from our clients to diversify into alternative asset classes such as digital assets,” said Bordier’s managing partner Evrard Bordier. The new service allows Bordier’s clients to buy, hold and trade cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Tezos. The firm plans to expand the number of coins it offers in the future. Banking platform Sygnum Bank is providing the infrastructure management that will custody the private keys […]

State Bank of India joins JPMorgan’s blockchain payments network

by crypto journalist
The State Bank of India, or SBI, a major Indian government-owned bank, is looking to improve cross-border payments with a blockchain solution by American investment bank JPMorgan Chase. According to a Feb. 23 report by The Economic Times, the SBI has joined Liink, a new blockchain-based interbank data network developed by JPMorgan. By integrating the technology, the bank expects to reduce transaction costs and improve cross-border payments for its customers. SBI deputy managing director Venkat Nageswar said that the bank has already gone live on Liink. “We are excited to be the first bank in India to go live on […]

The US SEC Revokes Registration of Long Blockchain Corp’s Securities

by crypto journalist
The U.S. Securities and Exchange Commission (SEC) says it has revoked the registered securities of Long Blockchain Corp (LBCC) after the company failed to file annual reports since Dec. 31, 2017. In addition, the SEC says LBCC, which made the switch from soft drink production to activities related to blockchain technology in December 2017, is also “delinquent in filing quarterly reports.” Non-Existent Blockchain Business In a document that reveals the proceedings against LBCC, the SEC, which cites the Securities Exchange Act of 1934, says its decision (to revoke securities) is intended to protect investors. The SEC adds that an investigation […]

Michael Saylor Predicts Massive Investor Shift from Gold to Bitcoin After Buying Another $10M Worth of BTC

by crypto journalist
Michael Saylor, the ‘bitcoin slayer’ that needs no introduction, continues his attacks on everything non-bitcoin, this time unleashing his wrath on gold. In an interview with Andrew Henderson of Nomad Capitalist, a legal finance advisory, Saylor, condemning gold as a “dying asset” and “dead money,” offered his view of the future of investment: gold is out, bitcoin is in. To recap Saylor’s ascent to bitcoin supremacy, his firm Microstrategy made headlines for its relentless bitcoin shopping spree during 2020, in December alone. 2021 is no different, with Saylor announcing today another purchase of 295 bitcoins, bringing his total to 71,079. […]

Hong Kong Bitcoin “millionaire” arrested after literally making it rain cash on the street – shanghaiist

by crypto journalist
A man has been arrested in Hong Kong after making it rain cash on the street in an apparent cryptocurrency stunt. On Friday afternoon, residents of one of the city’s poorest neighborhoods in Sham Shui Po district looked up to see hundreds of 100-HKD banknotes falling from the sky. Videos from the scene show a cheering crowd scrambling to pick up as many of the bills as they can. In one video posted to the Facebook page Epoch Cryptocurrency, a man in a black hoodie is seen giving a speech to the camera before the money starts raining down, asking, “Does […]

Bitcoin price crashes spectacularly, wiping $10k from value

by crypto journalist
The latest dip also caused bitcoin’s market capitalisation to fall below $1 trillion, having passed that milestone for the first time last week. In comments shared with The Independent, Mr Peters, who works for the online trading platform eToro, said that such signs would probably lead to some short-term losses. He said the indicators “will be a warning to many investors that the current price trajectory may be weakening, and that a consolidation or change in price direction is on the horizon”. Subscribe to Independent Premium to bookmark this article Want to bookmark your favourite articles and stories to read […]

Bitcoin (BTC) price down 10% after Elon Musk says prices seem high

by crypto journalist
Bitcoin tanks 10% after Elon Musk says prices seem high Published Mon, Feb 22 202110:18 AM ESTUpdated Mon, Feb 22 202110:29 AM EST This content was originally published here.