Author: Atis. Sh

In a whirlwind of speculation and drama, Bitcoin soared from $27,000 to $30,000 in mere minutes. Undoubtedly, this volatility was fueled by a now-debunked report from CoinTelegraph, stating that BlackRock’s Bitcoin ETF had secured SEC approval. The news spread like wildfire, causing a seismic shift in market sentiment. Within no time, leading media outlets like Reuters also echoed this groundbreaking announcement. However, the euphoria was short-lived. Soon after, the claim was debunked, sending Bitcoin tumbling back down to $28,000. Interestingly, this frenzy liquidated over $71 million in Bitcoin leveraged positions and more than $15 million in Ethereum leveraged positions. Bloomberg…

In a groundbreaking initiative set to democratize the real estate market, the Moscow Stock Exchange is laying the groundwork to launch Digital Financial Assets (DFAs) for real estate in 2024. The announcement comes from Sergei Kharinov, the exchange’s director of digital assets, and promises to drastically lower the barriers to entry for would-be real estate investors. These DFAs are essentially tokenized versions of real-world assets, in this instance, real estate properties. Interestingly, they’re recorded as program code on a blockchain, bringing the sophistication of distributed ledger technology to an otherwise traditional marketplace. Unlike regular stocks or bonds, DFAs come with…

In the aftermath of last weekend’s attacks by Hamas on Israel, a critical question has emerged: how did the militant group manage to fund its operations? Remarkably, cryptocurrencies have been highlighted as a pivotal element in their financial strategy. According to Israeli seizure records and blockchain analytics, Hamas, along with Palestinian Islamic Jihad (PIJ) and Hezbollah, garnered substantial funds through cryptocurrencies. Specifically, Hamas pocketed approximately $41 million in cryptocurrency over the last two years, based on data from Tel Aviv-based analytics firm BitOK. Intriguingly, this modern form of financing has managed to evade the traditional monetary system, which is laden…

Ferrari NV has greenlighted cryptocurrency as a payment method for its iconic sports cars. Initially, the feature is available to U.S. customers, with the Italian automaker planning to extend this option to Europe by the first quarter of 2024. In an interview, Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, divulged that the company is also mulling over introducing crypto payments in other jurisdictions where it is legally sanctioned. Furthermore, transactions can be made in Bitcoin, Ethereum, and USDC without any additional fees, thanks to the integration with crypto payment processor BitPay. The Tesla Effect and Environmental Concerns Interestingly, this…

In an epoch-making fireside chat at Bitcoin Amsterdam 2023, President Miguel Albuquerque of Madeira and Prince Filip of Serbia uncorked a headline-grabbing revelation. With palpable excitement, President Albuquerque announced the launch of a Bitcoin business hub in Madeira, a move that is set to reposition the region as a cornerstone of digital innovation. Moreover, the association has been created to spearhead the growth of both Bitcoin and technology-related activities, with a warm invitation extended to anyone wishing to collaborate. Prince Filip, who serves as the Chief Strategy Officer at Jan31 and is a notable Bitcoin enthusiast, commended Madeira for its…

The UK Metro Bank has successfully negotiated terms with key investors, offering a glimmer of optimism amid recent financial uncertainties. The finalized agreement, revealed on Sunday, unveils a £325mn capital boost, comprising £150mn of novel equity primarily from Metro’s predominant stakeholders, and a supplementary £175mn from new bondholder debt. For Context: UK Metro Bank Stock Crashes Even Lower A New Chapter: Investor Commitment & Share Rebound Spearheading this influx of equity, Colombian magnate Jaime Gilinski Bacal has committed an impressive £102mn. Consequently, Bacal is poised to emerge as Metro’s principal shareholder, a strategic move considering his successful history of revitalizing…

Denis Beau, the first deputy governor of Banque de France, has recently voiced his support for Central Bank Digital Currencies (CBDCs), emphasizing their potential as the cornerstone of a revamped global monetary system. Instead of merely mimicking fiat or facilitating local settlements, Beau suggests that CBDCs could revolutionize cross-border payments. “CBDCs,” the French deputy governor states, “are the catalyst for improving cross-border payments by enabling the build-up of a new international monetary system.” The perspective shared by the bank’s executive aligns with that of his peers, all of whom advocate for the CBDC. However, Beau underscores the need for defining…

The trial of FTX founder, Sam Bankman-Fried, commenced on Tuesday, placing him at the epicenter of a contentious legal battle. Despite the foggy U.S. legal framework surrounding cryptocurrencies, the Department of Justice (DOJ) remains resolute. Their stance? The nebulous state of crypto regulations will not deter them from pressing fraud charges against Bankman-Fried, as revealed in a document disclosed on Wednesday. Sam Bankman-Fried, pleading not guilty, is facing allegations of misusing FTX customer funds. However, as the trial kicks off, lawyers on both ends remain in heated discussions over which evidence the yet-to-be-decided jury should be privy to. Moreover, the…

In a recent interview, BitMEX founder Arthur Hayes forecasts Bitcoin to skyrocket to a staggering $1 million by 2026. Hayes divulged his bullish perspective in a chat with prominent YouTuber Tom Bilyeu, citing Bitcoin’s limited supply, potential spot ETFs in key regulated domains, and prevailing geopolitical unrest as pivotal influencers. Factors Driving the Bullish Projection Central to Hayes’ optimism is the inherent scarcity of Bitcoin, with its supply capped firmly at 21 million coins. He posits that as more investors become cognizant of this limited availability, demand will soar, pushing prices upwards. However, Hayes’ enthusiasm doesn’t end with Bitcoin. In…

As the cryptocurrency frontier expands globally, Georgia takes a monumental leap into the future, with Ripple Labs standing as a pivotal ally. The National Bank of Georgia (NBG) has recently announced its commitment to pioneering the digital Georgian lari central bank digital currency (CBDC) through a structured live trial. This bold move seeks to redefine the nation’s economic landscape, placing Georgia firmly on the map of innovative finance. Central to this initiative, Ripple Labs has been selected to participate. Collaborating with eight other influential entities, this involvement underscores Ripple’s burgeoning impact in Georgia’s economic tapestry. The selection of Ripple speaks…