Bitcoin News
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Bitcoin touches lowest level since December 2020 after Fed’s 75 bps hike
Bitcoin fell to its lowest point since December 2020 after the Federal Reserve’s (Fed. 75 basispoint interest rate rise. The price of Bitcoin fell nearly 2 percent in the last 24 hours. Now, the crypto market cap stands at $900 billion. It reached $1 trillion as of September 15. According to coinmarketcap, Bitcoin traded at $18,735, while Ethereum was at $11,272 as of 12 PM (IST). According to CoinDCX research, Bitcoin reacted with a 6.5 percent swing to the downside and bottomed at $18,600, while Ethereum plummeted from $1,393 directly after the announcement. In the past seven days Ethereum has dropped 22 percent. Since September 15, when the company announced that it had completed its upgrade to Merge, the fall has…
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Here’s How Many Wallets Is Needed For Bitcoin To Be An Inflation Hedge
Bitcoin’s most important selling point is its ability to beat inflation rates. It has been referred to as the “digital gold” because a large portion of the community believes that bitcoin is an inflation hedge better than any other asset. But not all bitcoin supporters believe that bitcoin is an inflation-hedge. Anthony Scaramuccci, CEO of Skybridge Capital is one of them. Here is what he thinks. We need more wallets Since its inception over a decade ago, bitcoin has seen a tremendous rise. It is no surprise that bitcoin is being compared with other assets that have been around longer. Gold, which was previously the preferred inflation hedge for investors, is one of them. However, BTC…
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Nigeria SEC: We have the best Bitcoin regulations in Africa
A top official from Nigeria’s securities watchdog claimed that Nigeria is the leader in Africa for digital asset regulations. Dayo Obisan stated that the Securities and Exchange Commission had made significant strides in the regulation of the digital asset market. He discussed the division of powers and responsibilities of the Central Bank of Nigeria and the SEC in relation to digital assets. We released additional rules about crypto a few months ago. Nigeria leads Africa in terms of regulating the digital asset space and making rules. We are recognized worldwide as being keenly interested in that space,” Obisan, the executive Commissioner at the SEC, stated. The most important aspects for the SEC when it…
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Nexo Claims a Co-Founder Walked Away With Millions in Company Assets
According to a recent court ruling, Nexo, one the largest crypto lenders in the world, has been quietly engaged in a heated argument with a cofounder who allegedly stole tens million dollars worth of company assets following his firing. A Bitmex account that held more than $10 million in Nexo’s cryptocurrency at one time was registered under the name Georgi Shulev. Shulev is a former banker and co-founded Nexo around 2017. The account was then ‘terminated’ in September 2019. Nexo removed Shulev’s access from his company email account, and warned Bitmex Shulev could try to’siphon off funds’. After losing his Nexo email account, Shulev said that the money was his and that…
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Report: A British Virgin Islands Court Order Liquidates Crypto Firm Three Arrows Capital
A source familiar with the situation once again has information regarding a digital currency company that is in trouble and facing financial hardships. Sky News reports that Three Arrows Capital Ltd. was officially liquidated by a British Virgin Islands court. Sky News author Mark Kleinman explains that it is not clear what the immediate financial consequences would be for Three Arrows creditors. Bitcoin.com News reported about the initial problems of the crypto hedge fund two weeks ago. Frank Chaparro, The Block’s editor, cited sources that indicated 3AC might have been liquidated at around $400 million. Su Zhu, and Kyle Davies were the founders of 3AC. 3AC was founded in 2012 by Zhu and Davies. Zhu did however tweet…