SAN SALVADOR—El Salvador has become the first country in the world to formally adopt bitcoin as legal tender after Congress approved President Nayib Bukele’s proposal to embrace the cryptocurrency. With 62 out of 84 possible votes, a majority of lawmakers voted in favor of the initiative to create a law that will formally adopt bitcoin,…
NTD Business Full Broadcast (June 8)
Colonial Pipeline’s CEO testifies before Congress, discussing the ransomware attack last month that led to skyrocketing gas prices. Does he regret paying the ransom? The White House launching a new task force Tuesday, to bring back supply chains of critical products and target China’s unfair trade practices. A software company, one of bitcoin’s biggest backers, is issuing bonds…
Trump Blasts Bitcoin as ‘Scam’ That Threatens Dollar’s Role as Reserve Currency
Former President Donald Trump took Bitcoin into his crosshairs on Monday, calling the blockchain-based cryptocurrency a “scam” that threatens the greenback’s dominance as the world’s chief reserve currency. “Bitcoin, it just seems like a scam,” Trump told Fox Business’s Stu Varney in an interview. “I don’t like it because it’s another currency competing against the…
El Salvador’s President Says Will Send Bill to Make Bitcoin Legal Tender
SAN SALVADOR—El Salvador’s President Nayib Bukele said on Saturday that he will send a bill to Congress next week to make bitcoin legal tender in the Central American nation, touting its potential to help Salvadorans living abroad send remittances home. “In the short term this will generate jobs and help provide financial inclusion to thousands…
Mining Companies Flee China as CCP Cracks Down on Cryptocurrency
After the State Council of China recently announced a crackdown on bitcoin mining and trading practices, several well-known mining pools and companies announced they are leaving China, and moving their businesses to other countries. Several mining platforms have announced that they are blocking IP addresses from China. The “mining” of virtual currency refers to the…
NTD Business Full Broadcast (May 31)
Feds announcing employers can require COVID vaccines for workers returning to the office. But they still have to accommodate exemptions. Bitcoin is on track to see one of its worst months in May, with the crackdown in China and U-S officials signaling tighter regulations to come. Americans are spending more and more money on pets….
Bitcoin Price Plummets After Beijing Warns of Crypto Crackdown
May 26, 2021
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After increasing in value for months, cryptocurrencies, led by Bitcoin, have recently depreciated across the board. Chinese state media admitted that it’s directly related to two recent moves by Beijing financial authorities. The first major action was on May 18, when National Internet Finance Association of China, China Banking Association, and Payment & Clearing Association…
Bitcoin Fights Back After Sunday Sell-Off
Cryptocurrencies fought back on Monday, clawing back ground after a bout of weekend selling fuelled by further signs of a gathering Chinese crackdown on the emerging sector.
Bitcoin Down Almost 50 Percent From Year’s High
Bitcoin fell 13 percent on Sunday after the world’s biggest and best-known cryptocurrency suffered another sell-off that left it down nearly 50 percent from the year’s high. Bitcoin fell to $32,601 at 1800 GMT (2 p.m. ET), losing $4,899.54 from its previous close. It hit a high for the year of $64,895.22 on April 14. Ether,…
Fed Inches Closer to Developing Central Bank Digital Currency
The Federal Reserve has announced it is taking a step closer to the potential adoption of a central bank digital currency (CBDC) by ramping up its efforts to study the use of fast-evolving technologies for digital payments, with a particular focus on the opportunities and risks associated with this new type of digital dollar. “Technological…
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