(Reuters) – Bitcoin dropped 7% to $35,431.15 at 20:02 GMT on Friday, losing $2,666.53 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 45.4% from the year’s high of $64,895.22 on April 14. Ether, the coin linked to the ethereum blockchain network, dipped 8.66 % to $2,165.68 on Friday, losing $205.45…
Nayib Bukele, El Salvador’s populist, social media-savvy president, has bedazzled the ruby-red laser eyes that dot the Twitter profiles of Bitcoin fanatics. They’re cheering his decision earlier this month to hitch his country’s wagon to the cryptocurrency. Beyond the true believers, however, the reception has been chillier. And that’s what should be on his mind….
The view that Bitcoin is a hallmark of speculative excess and froth is still going strong, even after last month’s 35% plunge. About 80% of fund managers surveyed by Bank of America Corp. called the market a bubble, up from 75% in May. The poll, which captures the view of 207 investors with $645 billion…
Bitcoin climbed to shy of $40,000 on Monday, after yet another weekend of price swings following tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold Bitcoin but may resume transactions using it. Bitcoin has gyrated to Musk’s views for months since Tesla announced a $1.5 billion…
Do you want to get involved in some online trading, but aren’t quite sure where to start when it comes to buying and selling stocks, forex, cryptocurrencies, and other financial markets on the internet? Keep reading to find out. 1. Online Trading Online trading is an active, short-term method of making money by investing…
China’s crackdown on cryptocurrencies has spread to the country’s southwest with a campaign against misuse of electricity by bitcoin miners in Yunnan province, local media reported on Saturday. In addition to concerns about the huge amounts of energy needed for the computing power to create cryptocurrencies, the central government is also concerned about speculation after…
The Enforcement Directorate (ED), in line with its current focus on crypto exchanges and money laundering, on Friday issued show-cause notice to WazirX and its directors Nischal Shetty and Sameer Hanuman Mhatre for allegedly violating foreign exchange laws involving crypto transactions of Rs 2,790 crore. “The agency has found evidence of non-compliance with forex rules…
The Enforcement Directorate on Friday said it has issued a show cause notice to the country’s largest cryptocurrency exchange for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA). WazirX, registered under the company named Zanmai Labs Pvt Ltd, was incorporated in December, 2017 as a domestic…
Mumbai-based Indian cryptocurrency exchange WazirX, on Friday, said it hadn’t received a show-cause notice from the Enforcement Directorate. “WazirX is yet to receive any show-cause notice from the Enforcement Directorate as mentioned in today’s media reports. WazirX is in compliance with all applicable laws,” the company tweeted. A couple of hours before, ED had tweeted…
China arrested over 1,100 people in a sweeping crackdown on the use of cryptocurrencies for money laundering, adding to signs it’s further reining in crypto-linked activities. Police busted more than 170 criminal groups that used cryptocurrencies to launder money in telecom scams to avoid being tracked down, the Ministry of Public Security said in a…
