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Author: Finbold
Vodafone has launched a blockchain-backed platform that authorizes connected devices to perform secure automated transactions on a customer’s behalf. According to an official statement, the new platform, called Digital Asset Broker (DAB), draws on the strength of its Internet of Things (IoT) platform and will help Vodafone clients benefit from the new ‘Economy of Things.’ Most connected devices and sensors today collect and send information via the Internet. However, the new ‘Economy of Things’ platform from Vodafone goes further than that. It allows verified connected devices, vehicles, smart street furniture, and machines to transact seamlessly and securely on a user’s behalf…
Cardano (ADA) has achieved some remarkable results over the past couple of months, most recently observable in the dramatic boost of its total value locked (TVL) which has reached a new all-time high. Notably, on March 2, the TVL for the largest Proof-of-Stake (PoS) asset stood at $133.39 million, surpassing its previous record set on February 17 of $130 million. In particular, the TVL for the blockchain platform has been rising in the last week across decentralized marketplaces, according to the data from Defi Llama which records on on-chain data. TVL (USD). Source: Dan Gambardello Although its TVL stands marginally lower at press time (March…
Following Russia’s invasion of Ukraine on Thursday, Bitcoin (BTC) fell below the $35,000 mark. Since then, however, the cryptocurrency has risen significantly, and it is presently trading around the $39,000 mark. Notably, during this time, Bitcoin ‘whales’ made an enormous amount of transactions in this range as prices bottomed out, according to data from behavior analysis platform Santiment. As a result, the number of transactions on the platform above $100,000 and $1 million has peaked at their highest level in a month; interestingly, Bitcoin whale transactions last reached their peak levels on January 24, just as prices were about to bottom out…
Defense attorney James K. Filan recently informed XRP community members that Ripple had filed their Opposition to the SEC and Judge Netburn’s deliberative process privilege (DPP) Ruling. The SEC wants to force the company to give over notes made by Matthew Estabrook, counsel to former SEC Commissioner Elad Roisman; however, Filan observes that the SEC is merely seeking a “do-over.” “Ripple and the Individual Defendants have filed their Opposition to the SEC’s Motion for Partial Reconsideration and Clarification of Judge Netburn’s DPP Ruling, noting that the SEC is simply seeking a “do-over.” Mr. Filan wrote. By making public the initial filing…
One U.S. dollar invested in Bitcoin 5 years ago would return $32 today, while gold only $1.5
In the present market environment, comparisons between Bitcoin (BTC), the flagship digital currency, and gold continue to be made as traders and investors hunt for a hedge against inflation and a safe-haven asset amid escalating geopolitical tensions. When comparing the performance of a $1 outlay in Bitcoin 5 years ago with a $1 investment in gold, investors notice a much larger return on investment (ROI) with BTC. Purchasing $1 worth of Bitcoin five years ago when Bitcoin was valued at $1185 would be worth $32.32, now a 3132% increase. In comparison investing $1 in gold, which was valued at $1254, would…
Alex Mashinsky, the CEO of Celsius Network, has said the ongoing conflict between Russia and Ukraine has acted as a catalyst helping Bitcoin establish a critical support level at $30,000. Speaking to Kitco News, Mashnsky stated although Bitcoin was touted to gain in such a high tension environment, the asset’s correlation with the stock has contributed to its correction. According to Mashnsky, Bitcoin will be crowned as the digital gold once the cryptocurrency decouples from the stock market. The executive believes the correlation between the two asset classes is because the same traders are investing in equities and Bitcoin. Mashinsky insinuated that as the…
Hacking group Anonymous has officially declared a cyber war against Russia as the country’s forces continue to advance into Ukraine. The group made the declaration through Twitter and revealed that it had taken down several Russian government websites. Among the prominent websites affected include state-backed news platform Russia Today, accessible through the RT.com domain. RT.com has since confirmed that the attack took place for an extended period. According to Anonymous, the Russian government uses the targeted websites to spread propaganda amid the ongoing war. By press, the Isitdownrightnow.com tool indicated that RT.com was still down. Notably, the website has caught the attention…
Due to its ongoing litigation with the Securities and Exchange Commission (SEC) and the use of two freshly disclosed legal memos, Ripple (XRP) has lately been in the spotlight. According to the General Counsel (GC) at Ripple, Stuart Alderoty, The 2012 Perkins Coie memoranda to Ripple’s founders shows the company’s good faith in trying to issue digital tokens without clear rules on how current governmental regulations would apply to cryptocurrencies. In short, Ripple solicited Perkins Coie’s advice “because of a firm commitment to get things right, to be on the right side of the law, to act responsibly,” Mr. Alderoty told Reuters.…
The narrative that Bitcoin should have increased in value in reaction to Russia’s invasion of Ukraine is one that many in the crypto space anticipated, but the reverse has occurred on February 24, with the market suffering an enormous selloff. Speaking with Scott Melker, the host of Wolf of all Streets podcast, Bloomberg senior commodity strategist Mike McGlone highlighted that the markets are way overdue for a pretty significant correction, most notably in terms of equities, but this has also been felt in the crypto market as well. Notably, McGlone thinks that this is a ‘defining moment’ for the digital asset; although there are downside risks, he…
Russia will limit the number of cryptocurrencies purchased by citizens in a new bill that seeks to regulate digital currencies in the country. The bill sponsored by the finance ministry recognizes Bitcoin and other cryptocurrencies as investment vehicles instead of a payment option, FXStreet reports. Russians who want to own Bitcoin will be limited to purchasing the asset capped at $7,700 per year after undergoing rigorous Know Your Customer (KYC) procedures. The draft bill proposes that investors will be required to show their understanding of cryptocurrencies before purchasing their preferred assets. Residents will be limited to purchasing Bitcoin worth $650 per year if they fail the…