Microsoft Corporation co-founder Bill Gates revived his stance on cryptocurrencies or non-fungible tokens (NFTs) on Tuesday, further clarifying prior remarks on why he doesn’t own any form of digital currencies. Speaking at a TechCrunch talk on climate change on June 14, the business magnate described the asset class as 100 percent “based on the greater…
Bill Gates Says Crypto, NFTs ‘Based on Greater Fool Theory,’ Prefers Tangible Assets
Binance Pauses Bitcoin Withdrawals Amid Crypto Sell-off
Crypto firm Binance paused withdrawals of Bitcoin (BTC) on Monday, claiming that a technical issue had left the company unable to process withdrawals as the crypto market suffered from a large-scale sell-off, bringing the value of Bitcoin to an 18-month low. Binance said that the issue was attributable to a “stuck on-chain reaction,” which prevented…
Bitcoin Stems Heavy Losses but Pessimism Reigns in Crypto Markets
LONDON—Bitcoin steadied on Tuesday after earlier hitting a new 18-month low, as major crypto lender Celsius Network’s freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class. Bitcoin clawed its way to positive territory after falling as much as 7.3 percent to $20,816, its lowest since Dec. 2020….
Binance CEO on $1.6 Billion Loss in Terra Investments; Why He Never Spoke to Do Kwon
CEO of Binance Changpeng Zhao says that his company initially invested $3 million in the much-hyped Terra project in 2018. In return, Binance received around 50 million LUNA. But in a recent Twitter post, he indicated that Binance ultimately lost $1.6 billion in its Terra investment. CZ: We invested in Terra as a part of a Binance Labs investment…
What Are Crypto Debit/Credit Cards and Are They Worth Using?
May 27, 2022
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Cryptocurrencies offer benefits for both customers and businesses alike. Businesses, in general, have gains by accepting cryptocurrency payments and as a result, some have become more open to the idea. Here is what crypto debit/credit cards are—and are they worth using? Customers and businesses face some difficulties when it comes to paying and receiving payments for…
The Role of Crypto in the Fintech Industry and the Wider Economy
Over the past couple of years, modern society has witnessed the increasing prevalence and adoption of Blockchain technology. However, for the Padawans out there who think of the Blockchain as a network of nano-bots ready to overtake humanity, the Blockchain is basically just a set of code that records events, and each record is unalterable….
Former Facebook Crypto Chief Launches Bitcoin Payments Company
David Marcus, the former head of Meta Platforms Inc-owned Facebook’s crypto project Diem, has launched a Bitcoin payments startup. What Happened Marcus and a few ex-Meta crypto team members have started a new venture, according to a report from TechCrunch on Thursday. The new company, called Lightspark, would build on the Bitcoin Lightning Network. It will reportedly…
Crypto Owners Need to Report Capital Gains in 2022, Australian Tax Office Warns
Australian cryptocurrency (or crypto) owners will need to pay due diligence when they lodge their tax returns this year as the Australian Tax Office (ATO) has announced that it will focus on capital gains from crypto-assets for the 2022 tax season. In a statement released on May 16, the ATO emphasised that Australians would have…
How to Avoid ‘Rug Pulls,’ the Latest Cryptocurrency Scam
May 13, 2022
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A new type of scam has emerged in the hype-filled world of cryptocurrency: the “rug pull.” The scam, which gets its name from the expression “pulling the rug out,” involves a developer attracting investors to a new cryptocurrency project, then pulling out before the project is built, leaving investors with a worthless currency. It’s part…
Will Twitter Get More Crypto-Friendly With Musk’s Investments From Binance and A16z?
Tesla Inc. CEO Elon Musk has landed backers for his buyout of social media platform Twitter Inc. What Happened Agreements were reached with 19 total investors, including 18 new companies to help facilitate Musk’s $44 billion buyout of Twitter. Among the investors were two names that are well known in the cryptocurrency space: Binance and…
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