Cryptocurrency News

Prices of cryptocurrencies continue to decline. Bitcoin dropped below $28,000 and currently trades at around $27.900. The lowest price was around $26,350. Bitcoin's market cap stands at above $529 billion. Ether trades at around $1,880. The total crypto market cap decreased by over 13% in the last...

Blockchain investigation firm Chainalysis attracted $170 M in the recent investment round. Thus, the company's valuation hit $8.6 bln. A report by The Information says that the company raised the amount in Series F led by Singapore-based investment management company GIC. In June 2021, Chainalysis...

The price of LUNA, the native governance coin of the Terra blockchain fell by more than 94% in the last seven days. Although, in general, the crypto market sees difficulties now, LUNA's price drop was the most significant. LUNA hit its lowest price in a year falling below $1 and trading at $0.8...

SEC Chair Gary Gensler criticized crypto exchange platforms, saying some of them have rules that may be against their customers. In a recent interview with Bloomberg, he said that the agency is examining most of the digital assets and trading venues and finds they should register with the...

Galaxy Digital CEO Mike Novogratz finds crypto prices will remain volatile at least for the coming quarters. In the company's earnings call on May 9, he said that more damage is expected to be done and the BTC price could fall below $30,000. Galaxy Digital, a financial services firm focused on...

Terra blockchain's UST stablecoin fell below its $1 price peg. At the moment of writing, UST trades at around $0.92. On May 9, the stablecoins dropped as low as 68 cents according to data by CoinMarcetCap. UST is an algorithmic stablecoin created by Terraform Labs in 2018. Terra uses complex codes...

The president of El Salvador, Nayib Bukele announced that the country added $15.5 M worth of Bitcoins to its balance sheet at an average price of $30,744. El Salvador just bought the dip! 🇸🇻500 coins at an average USD price of ~$30,744 🥳#Bitcoin— Nayib Bukele (@nayibbukele) May 9,...

Top GPU (Graphics Processing Unit) company Nvidia was fined for not reporting details on how crypto mining impacted the company's gaming business. The US SEC published a press release saying that Nvidia agreed to pay a $5.5 M penalty for not reporting that crypto mining was a part of the company's...

Leading cryptocurrency exchange Binance backs Tesla CEO Elon Musk's purchase of Twitter. According to an SEC filing, the company committed $500 M in equity financing. Binance is one of 19 equity investors. According to the document, the raised amount is above $7 bln. Other participants include...

The US Federal Reserve made a long-awaited announcement on increasing interest rates. The Bank raised the amount of interest by ½ percentage point for the first time in more than two decades. This means that it will become more expensive for people, business operators and governments to borrow...

Popular fashion brand Gucci will enable customers to pay with crypto in several US stores at the end of May. According to an article by Vogue Business, the house will allow the option in all of its stores in North America during the summer. Gucci will accept over ten cryptos including Bitcoin,...

The Republic of Uzbekistan will enable domestic and foreign firms to mine cryptos using solar energy without requiring an income tax according to a presidential order published on April 27. The government mentioned that it is necessary to ensure a regulatory environment for the future developments...

Twitter unsuspended the account of Stani Kulechov, founder and CEO of the DeFi protocol Aave. The social media platform recently banned Kulechov after he twitted about becoming Twitter's interim CEO. The tweet was posted amid hot discussions about Elon Musk's $44 billion deal to buy the company. ...

The US financial watchdog, Securities and Exchange Commission revealed the decision to have 20 new positions to its enforcement unit for the crypto industry to prevent fraud cases in the sector. Changing its name to Crypto Assets and Cyber Unit (previously Cyber Unit) and it will expand to 50...

Wikimedia Foundation, the nonprofit organization running the online encyclopedia Wikipedia, stops accepting cryptos for donations. It released an update that says the organization will close its Bitpay account. On April 12, the WMF community requested to stop accepting donations in cryptos due to...

Toronto-based BTC mining firm Bitfarms issued an update for operations in April 2022. The company noted that 405 Bitcoins were mined which makes 13.5 Bitcoins per day on average. The number of mined Bitcoins went up by 75% from April 2021, and the mining hashrate reached 3.3 exahash per second....

American business magnate, the CEO of the conglomerate holding company Berkshire Hathaway, Warren Buffet said in the recent annual meeting of the company that he didn't change his mind about Bitcoin despite the growth of the asset. Buffet finds that Bitcoin isn't a productive asset and it doesn't...

Former BitMEX Chief Executive Officer Arthur Hayes predicts that the Bitcoin price will reach $1 M by 2030 because of the non-efficiency of the US and European Union policies. According to him, it was apparent after COVID 19 that the financial system has a number of disadvantages. Hayes wrote an...