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Ben Bernanke Dismisses Adoption of Bitcoin as a Legal Tender

According to Ben Bernanke, former Federal Reserve Chairman, Bitcoin will not replace traditional payment methods in an interview with CNBC on Monday. According to Bernanke, they designed BTC to function as an alternative for fiat money, but it has failed to do so. According to a top American economist, no one can buy groceries with … Read more

Microstrategy Among The Top Gainers As Crypto-Related Stocks Record Massive Profits

Over the last couple of weeks, when the authorities announced increasing interest rates to combat growing inflation, there has been intense selling pressure in the equities and crypto markets. However, the crypto market is showing gradual recovery amidst the collapse of Terra’s stablecoin (UST). The leading digital asset (BTC) has recovered from a 16-month low, … Read more

U.S. Citizen Accused of $59M Illegal Foreign Exchange Scheme by CFTC

The CFTC has charged Eddy Alexandre, a New York-based U.S. citizen and founder of EminiFX Inc. was charged with a $59M foreign exchange scam scheme. CTFC Charged a U.S. Citizen for Illegal FX Scheme The U.S. government has taken similar steps against Alexandre’s corporation, EminiFX Inc. According to the CFTC, Alexandre guaranteed investors a weekly … Read more

Nigeria’s SEC Release Regulations For Digital Assets, Calls Them Securities

The Securities and Trading Commission of Nigeria has released new laws regarding the nation’s issue, exchange, and storage of digital assets. These regulations may be seen here. It comes twenty months after the first statement the Commission provided on how it will define and regulate digital assets. The stance taken by the SEC is also … Read more

Cryptocurrency Meltdown Increasing El Salvador’s Chances of Defaulting On Its Debts

Based on a report released earlier this week, it seems like El Salvador would not be able to pay up its debts after losing one-third of its investment in Bitcoin investments and legalizing Bitcoin as a legal tender. El Salvador’s President Began Investing in BTC, But It Failed The Wall Street Journal has reported that … Read more

The US Space Agency Aligns with Gaming Manufacturer to Launch Metaverse Project Challenge 

NASA, America’s space agency, has reportedly aligned with Epic Games to launch a challenge for digital product creators to assist with setting up a project in the Metaverse. The challenge would reportedly relish the daily routines of a Martian astronaut. Epic Games, who are the creators of the renowned Game called Fortnite, would now assist … Read more

Coinbase CEO Gives Reason for Halting UPI Settlements in India

The Chief Executive Officer of Coinbase, Brian Armstrong, recently disclosed his reason for halting its operations in India. The executive said that the Reserve Bank of India had placed “informal” pressure on his organization. During his remarks concerning the event, the executive remarked that the economic situation in the Asian nation was a peculiar one. … Read more

MicroStrategy Loses $170.1M on Bitcoin Impairment Grounds – Report

MicroStrategy, a cryptocurrency financial services firm, announced its financial situation for the first quarter of 2022. The software firm announced it lost over $170 million via impairment charges on its virtual asset treasury during the report’s period. Based on the organization’s most recent financial reports, its losses due to impairment during the report’s period were … Read more

Bitcoin Set For Its Worst Bearish Week

The flagship coin could head straight into its worst week of losses in history as investors show fear of low liquidity due to the hike in interest rates.  Currently, bitcoin is arguably in the worst state, falling 7.4% last week. A further capitulation will see the largest cryptocurrency head into six consecutive weeks of losses, … Read more

Luxury Health Club In NYC, Equinox, To Allow Cryptocurrency Transactions Via Bitpay

One of the leading health clubs in Newyork, Equinox, is set to accept cryptocurrencies  for its service as it announces its partnership with Bitpay, a top crypto-enable payment platform, a news source reports. According to the report, the success of this collaboration will make Equinox the first health club to adopt digital currencies as a … Read more