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At a packed Miami conference in June, Jack Dorsey, mused in front of thousands of attendees about where his real passion lay: “If I weren’t at Square or Twitter, I’d be working on bitcoin.” On Monday, Dorsey made good on one part of that, announcing he would leave Twitter(TWTR.N) for the second time, handing the CEO position to a 10-year veteran at the firm. The 45-year-old entrepreneur, who is often described as an enigma with varied interests from meditation to yoga to fashion design, plans to pursue his passion which include focusing on running Square Inc (SQ.N) and doing more philanthropic work, according to…
US law enforcement officials in August seized roughly $2.3 million in cryptocurrency tied to ransomware attacks committed by a Russian resident, according to court document unsealed Tuesday. Aleksandr Sikerin, whose last known address was in St. Petersburg, Russia, is affiliated with a notorious ransomware gang known as REvil that has cost US businesses millions of dollars, the Justice Department alleged in a complaint filed in the Northern District of Texas Dallas Division. The cryptocurrency account, or “wallet,” that is now under the FBI’s control is “traceable to ransomware attacks committed by Sikerin,” the complaint states. The seizure is part of…
His departure as the social media company’s CEO and the choice of successor may signal a fresh push into cryptocurrency and blockchain technology. As influential as Twitter has been in our society, it could have been an even bigger business if Chief Executive Officer Jack Dorsey had figured out how to capitalize on short video — a format that went on to make TikTok a social media sensation. Bloomberg Opinion senior columnist Tim O’Brien was joined by Kurt Wagner, who covers Twitter Inc. for Bloomberg News, for a wide-ranging discussion on Twitter Spaces about Dorsey’s legacy after he abruptly resigned…
Since its inception, cryptocurrency has been the subject of hot debate. Proponents of more widespread use and investment see tremendous potential for a decentralized but secure medium of exchange with untold implications for global finance. Detractors instead argue that cryptocurrency is highly volatile, inconvenient, and designed to facilitate illegal conduct. One thing all can agree on, however, is that the U.S. Department of Justice (DOJ) is sharpening its focus on combatting cryptocurrency-related crimes. In October 2021, the DOJ took a major step to address concerns about cryptocurrency’s susceptibility to abuse. On Oct. 6, 2021, Deputy Attorney General Lisa Monaco announced…
Grayscale Investments is launching a product that will solely and passively invest in solana to ride on the eye-popping gains the cryptocurrency has seen since the beginning of the year. The Grayscale Solana Trust, the 16th investment vehicle from the world’s largest digital currency asset manager, is available to individual and institutional investors. It will be similar to Grayscale’s other single-asset investment trusts, including ones that provide exposure to bitcoin, bitcoin cash, ethereum, and litecoin, among others. The Solana Trust has an investment minimum of $25,000 and an annual fee of 2.5%. Solana, a layer-one protocol, is widely viewed as a competitor to fellow smart-contract platform…
The crypto craze is going to the dogs. Pet owners are actually naming their dogs “Doge” and their cats “Bitcoin,” according to Rover.com’s 2021 Most Popular Pet Names and Trends of the Year report. The online pet marketplace has published an annual report on trending pet names for the past nine years. And 2021 marks the first time that Bitcoin BTCUSD made the list; it’s apparently a trending name for cats. What’s more, dogs named after Tesla TSLA CEO Elon Musk and Amazon AMZN founder Jeff Bezos also made the list for the first time — and cats named “Elon” in particular were trending up by 343% over last…
Shiba Inu continued its 2021 rocketship journey Tuesday, shooting up 27% as other cryptos saw much more moderate gains (and some losses). The China-based meme coin that looks to follow in the pawprints of Dogecoin once again caught the attention of speculators after Kraken, a major U.S. cryptocurrency exchange, confirmed it would add support for the coin. Trading on SHIB began today on the exchange. At the same time, tech e-tailer Newegg announced Tuesday that it would begin accepting Shiba Inu as payment in early December. “We are always looking for ways to innovate the shopping experience on Newegg.com, and something our customers want is greater…
South Korea’s finance ministry said on Tuesday the National Assembly passed a bill on pushing back the planned taxation of capital gains from cryptocurrency trading by one year. Once the bill receives approval at the plenary session, the country will begin imposing 20% capital gains tax on any annual gains of more than 2.5 million earned from trading of cryptocurrencies beginning January 2023. The government had earlier said it will start imposing taxes from January next year. The National Assembly is expected to hold the plenary session on Dec. 2. -Read original story on Reuters
Indonesia’s central bank wants a digital form of the rupiah to “fight” cryptocurrencies as it considers whether to issue such a tender, said a senior official. Crypto assets are traded alongside commodity futures and are regulated by the trade ministry despite having a significant impact on the financial system, said Juda Agung, an assistant governor at the central bank. He spoke at parliament while undergoing a fit-and-proper test to be named deputy governor. Bank Indonesia has been considering a central bank digital currency, or CBDC, since the start of this year. “A CBDC would be one of the tools to fight…
Bitcoin, the largest cryptocurrency, is holding above key technical levels amid more volatility induced by the omicron virus strain. The token fell as much as 4.1% Tuesday and was at about $56,350 as of 7:47 a.m. in London. The drop came as global markets were roiled by concerns about the efficacy of current vaccines and the time needed for new shots. The asset is so far anchored by support prices that define shifts in momentum, a signal of strength for crypto bulls. Bitcoin is up about $3,000 from a Nov. 26 low — the day when the virus variant first caused market…