Bitcoin dropped back below $40,000, erasing almost all the gains sparked by optimism about US President Joe Biden’s executive order to put more focus on the crypto sector. The largest cryptocurrency declined as much as 7.2 per cent to $38,894 on Thursday, falling for the first time in three days. Most of the top cryptocurrencies…
India’s dithering on whether to embrace digital assets is causing thousands of developers, investors and entrepreneurs to leave for places with more friendly regulation, according to the co-founder of the country’s most famous crypto startup. “The brain drain is absolutely crazy,” Sandeep Nailwal, whose Polygon operates the biggest so-called Layer 2 protocol for the Ethereum…
Bitcoin surged on Wednesday after President Joe Biden signed an executive order that requires U.S. government agencies to assess benefits and risks of creating a central bank digital dollar and other cryptocurrency issues. The executive order potentially expands the adoption of virtual currencies in the U.S. financial system. Biden’s order will require the Treasury Department,…
Bitcoin jumped above $42,000 intra day amid a sharp rally in digital tokens, spurred by optimism about a US overhaul of crypto oversight that Treasury Secretary Janet Yellen called “historic.” US President Joe Biden signed an executive order on Wednesday requiring the government to assess the risks and benefits of creating a central bank digital…
President Joe Biden on Wednesday signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should jump in and create its own digital currency. The Biden administration views the explosive popularity of cryptocurrency as an opportunity to examine the risks and benefits of digital assets,…
President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded. The move comes as administration officials have raised concerns in recent weeks about Russia’s use of cryptocurrency to evade the impact of crushing sanctions in response to its…
Some of the world’s biggest cryptocurrency exchanges are staying put in Russia, breaking ranks with mainstream finance in a decision that experts say weakens Western attempts to isolate Moscow following the invasion of Ukraine. Western sanctions, which aim to squeeze Russia’s economy and sever it from the global financial system, have forced companies and financial…
With five of his paintings going under the hammer on an NFT marketplace on Friday, leading contemporary painter Paresh Maity becomes the new artist dipping his toe into the world of metaverse. Of the five assets, three will be physical paintings along with its non-fungible tokens (NFTs), and the remaining two will just be online…
Bitcoin kept advancing on Tuesday, briefly trading above $44,000 for the first time since Feb. 17 amid mounting signs that the war in Ukraine is bolstering demand for cryptocurrencies. The largest cryptocurrency rose as much as 6% to $44,183 and traded at $43,400 at 12:54 p.m. in Hong Kong, gaining along with other major digital…
Satish Kumbhani, founder of cryptocurrency platform BitConnect who has been indicted in the US for running a $2.4 billion crypto ponzi scheme, has likely “relocated from India to an unknown location” abroad. A federal grand jury in San Diego last week indicted Kumbhani with orchestrating a global Ponzi scheme. BitConnect is an alleged fraudulent cryptocurrency…
