By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Bitcoin funds and products posted record outflows last week as investors continued to cast a cautious eye on the world’s largest cryptocurrency, which has seen its upward momentum stall in the last few months, according to digital currency manager CoinShares data released on Monday. Bitcoin outflows hit $141…
Bitcoin’s wild gyrations in 2021 have made sure of one thing: The future of money will be electronic, but it won’t remotely resemble a cyberpunk utopia. People’s power will bow to sovereigns’ might. The mania and panic that have gripped decentralized cryptocurrencies are heightening the attraction of their coming rivals: digital cash, issued by central…
Twitter CEO Jack Dorsey has announced to consider making a hardware wallet for Bitcoin for the customers of its digital payments services company Square. The hardware wallet will be build entirely in the open, from software to hardware design, and in collaboration with the community, he said in a tweet on Friday. “Bitcoin is for…
Bitcoin slipped more than 3% on Friday after Tesla boss Elon Musk fired off a tweet hinting at a breakup with the cryptocurrency, though it remains on course for its best weekly gain in about a month as it tries to recover from May’s crash. Bitcoin was last down about 3.6% at $37,809. Musk tweeted…
Country’s largest private sector lender HDFC Bank has asked its customers to ignore its email communication that cautioned them against dealing in virtual currencies. In an email communication the bank said, “We wish to update you that in the light of the advisory issued by RBI…dated May 31, 2021, on ‘Customer Due Diligence for transactions…
Bitcoin slumped on Friday to its lowest this week, taking losses sparked by a growing crackdown in China and environmental concerns to almost 40% so far this month. The biggest cryptocurrency extended earlier losses, falling as much as 8.2% to $35,339 as it stayed pinned in this week’s relatively tight trading range. It was last…
A crackdown by Beijing is rapidly accelerating a shift in focus by makers of machines that ‘mine’ cryptocurrencies like bitcoin from China to North America and Central Asia as Chinese clients face an uncertain future. China’s central government vowed to clamp down on bitcoin mining and trading on Friday, causing some miners to halt all…
After giving a massive jolt to the cryptocurrency fans, Tesla CEO Elon Musk has now come forward to help form a Bitcoin Mining Council that will promote energy usage transparency” and “accelerate sustainability initiatives worldwide.” Musk earlier announced not to use the popular cryptocurrency Bitcoin as a payment mode to buy its electric vehicles, citing…
Bitcoin rebounded from its roller-coaster weekend, with prices on track for the biggest gain in more than three months. The cryptocurrency was trading 12 per cent higher around $37,655 as of 10:58 am in New York. It climbed as high as $38,683. Digital currencies have been gripped by volatility in the past two weeks, with…
Cryptocurrencies fought back on Monday, clawing back ground after a bout of weekend selling fuelled by further signs of a gathering Chinese crackdown on the emerging sector. Bitcoin climbed as high as $37,391 after falling some 7.5% a day earlier, and was last up 5%. Second-largest cryptocurrency ether jumped more than 10% to as high…
