Author: Atis. Sh

David Marcus, former President of PayPal and now the CEO of Lightning Network infrastructure company Lightspark, is setting the stage for an ambitious plan—turning Bitcoin into a global payment network. In a recent discussion on CNBC’s Squawk Box, Marcus laid out his perspective on how Bitcoin could transcend its current status as a store of value and hedge against inflation to become a major player in worldwide financial transactions. https://youtu.be/Rka6EoR-uC0 Bitcoin’s Journey: More Than a Store of Value Over the past ten years, Bitcoin has made incredible progress. Once a fledgling digital currency, mostly the subject of skepticism and regulatory…

Riot, a leading Texas Bitcoin mining company, scaled down its power consumption to aid the state’s hard-pressed electrical grid. Exchanging mining profits for a staggering $31.7 million in energy credits, Riot’s effort helped the state narrowly avoid a major power outage amid a scorching summer. As Texas grapples with another summer of blistering heat, the state’s electrical grid is under tremendous stress. With air conditioners running full tilt and industrial power consumption maintaining its usual pace, the Electric Reliability Council of Texas (ERCOT) has had to scramble to ensure the grid remains operational. The dire situation led the state to…

In a move to advance cryptocurrency understanding, Ministry of Education in El Salvador, in partnership with the nonprofit organization Mi Primer Bitcoin (MPB), announced plans to integrate Bitcoin education into the public school curriculum by 2024. This initiative places El Salvador at the forefront of global cryptocurrency education, reaffirming the nation’s pioneering role in crypto adoption. A Collaborative Venture: Ministry of Education and Mi Primer Bitcoin John Dennehy, the founder of MPB, confirmed to Cointelegraph that the Ministry of Education is spearheading the project with active assistance from MPB and Bitcoin Beach, a local cryptocurrency community. The curriculum will draw…

In a significant move that signals its growing ambition in the financial sector, X, the social media giant previously known as Twitter and owned by Elon Musk, has secured its eighth money transmitter license in the United States. The latest state to grant X this essential license is Mississippi, thereby accelerating the platform’s foray into the payments industry. A Proliferation of Licenses: X’s Steady March into Payments Before its Mississippi milestone, X had already amassed seven different types of money transfer-related licenses across seven states, including Arizona, Georgia, Maryland, Michigan, New Hampshire, Missouri, and Rhode Island. Each of these states…

Grayscale Investments has won a significant legal battle against the U.S. Securities and Exchange Commission (SEC), inching closer to launching its much-anticipated Bitcoin ETF (Exchange-Traded Fund). Following a court victory last week, the digital asset giant is urging the SEC to hasten the approval process for its spot Bitcoin ETF proposal. The Court Ruling That Shook The Market In a case that kept industry stakeholders on the edge of their seats, a three-judge panel of the District of Columbia Court of Appeals ruled that the SEC had unjustly rejected Grayscale’s proposed Bitcoin ETF without sufficient explanation. This ruling led to…

Global payments juggernaut Visa has announced a groundbreaking expansion by integrating its stablecoin settlement capabilities with the high-speed Solana blockchain. Partnering with merchant acquirers Worldpay and Nuvei, Visa aims to redefine the speed and efficiency of cross-border payments through this strategic move. Bringing Stablecoins Into the Mainstream Cuy Sheffield, Head of Crypto at Visa, elaborated on the significance of this strategic decision, “By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s…

X, the social media platform owned by tech billionaire Elon Musk and formerly known as Twitter, has acquired money transmitter licenses in seven U.S. states, including Maryland, New Hampshire, and most recently, Rhode Island. While these licenses clear the path for X to process crypto payments, they also open doors for it to function similarly to established payment providers like PayPal and Venmo. X’s Expansion Beyond Social Media This latest development comes after Musk expressed his intention for X to evolve into an “everything app,” a platform that extends beyond mere social interaction. Since June, X has been securing these…

In a ground-breaking turn of events, Grayscale Investments, a leading crypto asset manager, has successfully overturned a prior rejection by the U.S. Securities and Exchange Commission (SEC) concerning its Grayscale Bitcoin Trust (GBTC). The outcome marks a pivotal moment in the company’s quest to transform its GBTC from an over-the-counter product into a bona fide Bitcoin exchange-traded fund (ETF). The Court’s Decision According to court documents filed on August 29, Circuit Judge Neomi Rao of the U.S. Court of Appeals mandated that Grayscale’s review petition be accepted and that the SEC’s earlier decision to deny GBTC’s application be rescinded. In…

The untimely demise of Yevgeny Prigozhin, owner of the controversial Wagner Private Military Company (PMC), has unleashed a flurry of speculations, particularly concerning his rumored association with an enormous Bitcoin (BTC) wallet. We delve into how these rumors could reshape our understanding of Wagner and its possible connections to the cryptocurrency ecosystem. A Mysterious Death Sparks Rumors On August 23, news outlets were abuzz with reports of a devastating plane crash in Russia’s Tver region. Among the ten passengers onboard, all of whom perished, were Yevgeny Prigozhin and Wagner’s commander, Dmitry Utkin. The BBC and other media houses have reported…

In a move that reflects the merging worlds of traditional online platforms and blockchain technology, Fenix International, the parent company of OnlyFans, has disclosed its investment in Ethereum. According to a financial filing submitted to the UK corporate registry on August 24, the company invested nearly $19.9 million in Ethereum between 2021 and 2022. The Ups and Downs of OnlyFans’ Crypto Venture Despite the significant investment, the company’s Ethereum holdings have not been without challenges. The financial disclosure reveals a stark reality: an $8.5 million decrease in the total value of its Ether investments. As of November 30, 2022, when…