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Showing posts with label Cryptocurrency News. Show all posts
Showing posts with label Cryptocurrency News. Show all posts

Ethereum’s 27-Year-Old Co-Creator Vitalik Buterin Is Now The World’s Youngest Crypto Billionaire

 Vitalik Buterin, who spearheaded the launch of the Ethereum blockchain in 2015, has become the world’s youngest crypto billionaire at age 27. Ethereum’s cryptocurrency, ether, surged past $3,000 for the first time early Monday morning, marking a 325% rise since the beginning of this year.


 Vitalik Buterin, co-founder of Ethereum


Buterin’s ether address, which he disclosed in October 2018 as his main ether wallet, currently holds 333,520 ETH, worth $1.09 billion at the ether price of $3,278 at 1:30 p.m. ET on Monday

The ether cryptocurrency has a market capitalization of $376 billion, second only to bitcoin’s $1.08 trillion. Ether’s value has surged since the beginning of the year, largely due to the rising popularity of decentralized finance (DeFi) applications that are aiming to replace traditional financial intermediaries like banks and insurance companies. According to the data aggregator DeFi Pulse, over $72 billion is now locked in DeFi protocols, many of which are built on top of the Ethereum blockchain.


However, Ethereum is facing tough competition from Binance Smart Chain (BSC), the blockchain infrastructure developed by the world’s largest cryptocurrency exchange, which has been processing an average of more than 8 million transactions on a daily basis since late April (Ethereum is just over 1 million). Other prominent blockchains include Algorand, Cardano, Polkadot and Solana.   


Buterin was reportedly born in 1994 in the town of Kolomna, just outside of Moscow. He later moved to Canada with his family and was raised in Toronto. Prior to launching Ethereum, in 2012 when he was 18, Buterin cofounded (and wrote for) Bitcoin Magazine with Mihai Alisie, who later joined Buterin in founding Ethereum. In 2014, Buterin was awarded the prestigious Thiel Fellowship, offering $100,000 for young people under the age of 23 to pursue interests outside of academia (instead of going to college or university).

 The fellowship is funded by billionaire Peter Thiel, an early investor in Facebook and a graduate of Stanford University. A year later, the Russian-Canadian entrepreneur and the rest of the developing team launched Frontier, what they called the “barebone implementation of the Ethereum project.”

The future of blockchain technologies in financial markets

 When Satoshi Nakamoto introduced the Bitcoin (BTC) white paper over a decade ago, it was hard to imagine what role the cryptocurrency sector would play in global finance. Some argue that the invention of blockchain technology is comparable to the revolution brought on by the invention of the internet back in the 1980s. Starting as a niche space for tech enthusiasts, in just 12 years Bitcoin has become a serious player in the financial field, with its market capitalization closing in on Google, one of the world’s largest tech giants.

              Crypto-future (@crypto_nitro) | Twitter

One of the reasons for the increasing popularity of, and people’s increasing interest in, crypto lies in the fact that the technology that forms the backbone of cryptocurrency promises more financial inclusion compared with legacy finance. It is especially important for developing countries and emerging markets with fast-growing economic potential — the regions with the most promising potential for mass crypto adoption. And while blockchain cannot solve all of society’s problems, it’s the community behind this industry that should address the factors causing financial exclusion. Being decentralized in its origins and driven by the community, the crypto industry indeed greatly prioritizes diversity and inclusion, including valuing the contributions of women and the LBGTQ+ community.


The general public discourse on the crypto space still suffers from the notorious reputation of the Silk Road saga and the ICO craze back in 2017 — 80% of initial coin offerings ended up being scams. Meanwhile, by appealing to the younger generations — who will soon enough be the major drivers of the world’s economy — crypto is certainly gaining its momentum. Just last year, PayPal, the world’s largest payments processor, announced it would allow its customers to buy, sell and hold cryptocurrencies, and the demand for that service has been greater than the company expected.


Also last year, the world witnessed the rise of the decentralized finance industry, and some even argue that DeFi will complete what Bitcoin started, proving “to be the guarantee of a better, more liberated future.” DeFi has become a symptom of the real shift from centralized to decentralized services, fueling massive innovation and growth in Web 3.0 protocols and the demand for the decentralized internet. Since the old financial system has rotted and degenerated, we have witnessed an unprecedented amount of money-printing by governments all over the world amid the COVID-19 pandemic. DeFi brings forward the prospect of a paradigm shift, promising not just the democratization of money but the democratization of finance, representing a seismic shift in the way people will bank in the future.


Due to its decentralized nature, the crypto industry is not and will never be a local trend — the changes that it causes to the financial landscape are global. With central bank digital currencies, or CBDCs, being researched by governments all over the world and more institutional players — such as MicroStrategy, Mastercard, Bank of New York Mellon, Tesla and many others — entering the space, it seems inevitable that the global economy will have to accept that crypto, and the technology behind it, is here to stay. These examples also clearly represent signs that the industry is maturing.


Meanwhile, not all countries treat crypto equally: India has had a difficult relationship with the crypto space for some time already; China is leading CBDC development; the European Commission has proposed its Markets in Crypto-Assets Regulation, which has raised concerns within the crypto industry; and in the United States, while the crypto space is hopeful about new appointments in the administration of President Joe Biden, regulators are tightening the belts for crypto users. Cointelegraph decided to reach out to experts from China in the blockchain and crypto space for their opinions on the following question: What role will emerging technologies — such as blockchain, crypto and DeFi — play in shaping the future of finance in the world in general and in China specifically?


Bobby Lee, founder and CEO of Ballet:

“I think the way that blockchain and crypto have changed finance globally is by essentially introducing a brand-new asset class. Traditionally, the world only had gold and silver. After that, we had the invention of paper money, which became currency, and that was a new asset class. And then after a few more hundreds of years, the invention of stocks. Equity stocks in a company became the notion of ownership in the company, so stocks became an asset class. And of course, we've had loans and bonds. So, whether it's government or corporate bonds, that's another asset class.


And what we're seeing with crypto for 12 years now is that we have Bitcoin and now a new asset class called digital currency. Now, it's called digital currency, but it really doesn't have to be used like currency. It should be just treated like a new asset class. But why do we need that new asset class?


The issue with paper currency is that people in power always want to change rules to sort of strengthen their power over and hold on the economy, and thus over the people. So, they introduce the notion of unlimited printing. And this was only introduced in 1971. We're now at the 50-year anniversary of this new kind of asset class, which has a new feature: unlimited printing. Pretty much, before 50 years ago, the U.S. dollar did not have unlimited printing because it was backed by gold. So, you couldn’t have unlimited printing, but now you can have a little bit of printing because you've uncoupled from gold. Fiat currency has changed.


And now because of its change, the world’s locomotive has introduced a new asset class called Bitcoin, which is meant to counterbalance the change in fiat currency — to give people and give the world a choice. Do you want to continue to use an asset class that keeps on printing with no limit? Or would you prefer to put your savings at value into an asset class that has a strict upper limit of 21 million units? That's what crypto is bringing to the world.


Important questions are: Who wins? Who's right? Who's wrong? I think crypto will win because of its limited issuance, strictly limited in nature. My thoughts on Bitcoin as an asset class can be read in my book The Promise of Bitcoin: The Future of Money and How It Can Work for You. Cryptocurrency is bringing to the world the notion of a new asset class. And it's also bringing balance back to the world because before Bitcoin, the most relevant form of money was currency issued by governments, what we call fiat currency, and crypto has changed the very nature of it.”


Chang Jia, founder of Bytom and 8btc:

“First of all, the digital yuan mentioned in the first article, which integrates the cutting-edge blockchain technology and cryptography technology, has started to carry out the application in several first-tier cities in China. One could say that DCEP is already serving the national economy and the people’s livelihood. The prototype of China’s future financial network is gradually emerging. Therefore, in terms of digital finance, China is in a leading position over the world.


For the world, blockchain technology has a major mission in the future, including promoting currency internationalization, trade globalization and a better structure for the world’s top-level financial system to avoid the recurrence of a financial crisis.


At present, we can perceive that Bitcoin created by blockchain technology is becoming the preferred hedging asset of mainstream finance and has reached a market value of 1 trillion U.S. dollars within a short decade.


In the long process of financial evolution, Bitcoin and other high-quality cryptocurrencies will bring a new logical switch and asset portfolio to the world from the nature of currency and finance.”

Source: Cointelegraph

Berkshire Hathaway’s Charlie Munger Envy Bitcoin massive Success -Charlie Munger interview

 Berkshire Hathaway’s Charlie Munger Finds Bitcoin 'Disgusting and Contrary to the Interest of Civilization


Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, says he hates bitcoin’s success. “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth,” Munger said.


 Buffett, on the other hand, dodged the question about bitcoin because he did not want to upset the sheer number of investors who are long on the cryptocurrency.


Charlie Munger Hates Bitcoin’s Success

At Berkshire Hathaway’s annual shareholder meeting Saturday, Vice Chairman Charlie Munger commented about bitcoin. The 97-year-old said during a Q&A session:


Of course I hate the bitcoin success. I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth.


Munger, who is often known as Warren Buffett’s right-hand man, added that he also does not like “shuffling out of a few extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air.”




Berkshire Hathaway CEO Warren Buffett (left) and Vice Chairman Charlie Munger at the company’s shareholder meeting on Saturday. Source: Berkshire Hathaway Inc.


The billionaire vice chairman of Berkshire continued:


I should say modestly that the whole damn development is disgusting and contrary to the interest of civilization, and I’ll leave the criticism to others.


After Munger finished expressing his view about bitcoin, Berkshire CEO Warren Buffett quickly added: “I’m alright on that one.”


The “Oracle of Omaha” avoided answering a bitcoin question earlier, emphasizing that he did not want to comment on the cryptocurrency directly.


“We’ve probably got hundreds of thousands of people watching this that own bitcoin, and we’ve probably got two people who are short,” Buffett said, elaborating:


So, we have a choice of making 400,000 people mad at us and unhappy or making two people happy, and that’s just a dumb equation.


Munger has long been a bitcoin critic. “It’s really kind of an artificial substitute for gold. And since I never buy any gold, I never buy any bitcoin, and I recommend other people follow my practice,” he said in February. “Bitcoin reminds me of what Oscar Wilde said about fox hunting. He said it’s the pursuit of the uneatable by the unspeakable.” The Berkshire vice chairman previously called bitcoin “rat poison” and likened its trading to “trading turds.” Buffett then called the cryptocurrency “rat poison squared.”


What do you think about what Charlie Munger said about bitcoin? Let us know in the comments section below.

Young Koreans Turning to Crypto as Alternative for Creating Wealth

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 Young Koreans Turning to Crypto as Alternative for Creating Wealth

Young employees in their 20s and 30s are reportedly leaving the workforce to pursue riches in crypto trading.

Bitcoin Trading now Legalised in South Korea [Updated] - Crypto Rand Group


Young South Koreans are reportedly turning to cryptocurrencies as a means of generating wealth in greater numbers , much to the chagrin of their employers.


Many of South Korea’s young workers aged in their 20s and 30s are leaving their average paying jobs to explore crypto day trading, according to a report by local news outlet The Chosun Ilbo on Tuesday.

Their goal is to escape poverty and amass enough wealth to buy a home, a dream many young people worldwide feel is out of reach.


“I face the reality of being unable to afford my own home no matter how hard I save up my salary,” said one anonymous worker cited in the report. “There is no other way than cryptocurrency investments for me to accumulate wealth.”


Some employers even threaten to block access to crypto trading websites during trading hours as employees check on price fluctuations continually throughout the day.


Many employers are experiencing an exodus in the workforce of young people who are looking to make their fortune trading amid the current crypto bull run.


This is particularly prominent in the IT industry, where professionals are quitting their jobs once their trades have brought them healthy profits.


The report cites success stories like Han Jung-soo who reportedly left his employer after three years because he accrued over $2.6 million through trading.


“This is one of the reasons that IT companies have recently rushed to give big pay rises to their staff,” laments one team leader from a startup in the south of Seoul. “Most employees of IT companies in this area invest in cryptocurrency and we’re seeing workers quit after making more profits from their [crypto] investments than their jobs.”


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Tesla Motors Makes $101 Million On Sale Of Bitcoins

                                     Tesla's Brand Believers

 Before it starts India operations this year, Tesla has reported $10.3 billion in sales and net income of $438 million in the first quarter of 2021, a growth of 74 percent from a year-ago period, along with making $101 million on sales of Bitcoins which is its next big bet.


In its quarterly earnings presented late on Monday, Tesla reported it produced 180,338 vehicles in Q1 and delivered 184,777 vehicles.


“In Q1, we achieved our highest ever vehicle production and deliveries. This was in spite of multiple challenges, including seasonality, supply chain instability and the transition to the new Model S and Model X,” the company said in a statement.


“Due to the launch of new products and new factories and the reduced mix of Model S and Model X, our average cost declined to sub-$38,000 per vehicle in Q1,” the electric car-maker said.


Model 3 was the best-selling premium sedan in the world, outselling long-time industry leaders such as the 3 Series and EClass.


“This demonstrates that an electric vehicle can be a category leader and outsell its gas-powered counterparts. We believe Model Y can become not just a category leader, but also the best-selling vehicle of any kind globally,” Tesla said.


Tesla made about $101 million on the sale of Bitcoin in the first quarter. The company announced in January this year that it had bought $1.5 billion worth of the cryptocurrency and started allowing customers to pay for cars using bitcoin.


“We are currently building Model Y capacity at Gigafactory Berlin and Gigafactory Texas and remain on track to start production and deliveries from each location in 2021. Gigafactory Shanghai will continue to expand further over time. Tesla Semi deliveries will also begin in 2021,” the company informed.

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The New way to Generate Passive Income in Cryptocurrencies Trading: Crypto staking vs Liquidity Mining

The New way to Generate Passive Income in Cryptocurrencies Trading: Crypto staking vs Liquidity Mining

They have a lot of uses and objectives so far, but we can’t forget that cryptocurrencies are mainly financial instruments of some sort. They can work perfectly as a payment method (like Bitcoin), but they can also work perfectly to make more money by investing at the right times and places.

 That’s the case for crypto staking and liquidity mining.


These two methods have worked for a lot of investors as a way of passive income while using cryptocurrencies and tokens. Let us explain a bit about them.


 

What is Crypto Staking?

We’re talking here about Proof-of-Stake (PoS) coins. In this kind of blockchains, the figure of the “crypto miner” is replaced by the “validator”. This validator, which can be anybody who wants to (even yourself), will be in charge of verifying transactions and mint new coins, if necessary. And they will do that only by “staking” their own coins on the platform.


That means, they’ll lock inside a special wallet a certain amount of native tokens that they previously acquired. They won’t be able to use them for long periods (ideally), but, in exchange, the blockchain will reward them with brand new coins. Kinda like traditional crypto-miners, only this time the investment can be higher.


Let’s make an example with Alice. She wanted to do some crypto staking with Ethereum 2.0, so, she went to a crypto-exchange to buy the required coins for staking (32 ETH, in this case). She transferred those coins to the smart contract designed for deposits, and that’s it for now. As a reward for providing her coins, Alice will receive around 8.9% in annual interest earned, as long as the first 32 coins are locked.



What is Liquidity Mining or  Yield Farming ?

You can also use the term “ Yield Farming” here because most of the time they’re interchangeable. However, it might be a tiny difference in the hierarchy. Liquidity Mining can be considered only one system inside the niche of Yield Farming, which also includes other advanced methods to earning with DeFi tokens.


But well, speaking of Liquidity Mining, it happens when you provide liquidity to an Automatic Market Maker (AMM). In other words, you deposit your tokens (usually in pairs — like DAI/ETH) in a liquidity pool provided by a DeFi platform. Then, other users (aka token swappers) can lend, exchange or, in general, use those tokens for their own purposes. These token swappers pay a small fee per transaction, and those fees are accumulated and later distributed among all the liquidity providers (LP).


We should note, though, that the rewards can be done with a different token than those deposited, and the withdrawals may lead to losses sometimes. For example, let’s say Alice now wants to provide liquidity into the Circle Snail pool, with the pair USDC-ETH. She deposits both tokens in the smart contract, and she will receive rewards in SUSHI tokens, with a promised annual percentage yield (APY) of around 10.6%. If everything goes well, that’s it.


Crypto Staking vs. Liquidity Mining

So, what’s better? Crypto Staking or Liquidity Mining? Well, we can say it highly depends on the platform and the investor. But each method has advantages and disadvantages, of course.

In the first place, Crypto Staking is far more secure than Liquidity Mining. The validators or stakers are less exposed to smart contract failures, which can lead to millionaire hacks in the platforms. Besides, they can choose a platform with a short locked period for their coins, and withdraw them (along with the rewards) when this time is done. They can repeat the process if they want to, or not.



Now, speaking about investments and rewards, is usual that Crypto Staking demands a high initial investment. The figures vary in different PoS coins. Dash demands a 1,000 tokens collateral ($105,700) for its PoS validators and offers around 6% yearly interest. For its part, Cosmos (ATOM) has different levels for staking. The first one doesn’t require any specific amount as a minimum to staking, so you can do it easily from wallets like Atomic Wallet, and the calculated profit is 8% yearly. The next level (for official validators) is harder to reach, though. The costs are over $57k.


Risks and rewards

On the other hand, Liquidity Mining has higher risks, but also higher rewards with much fewer investments. Although, we need to talk here about Impermanent Loss. This means that your tokens can lose value while they’re locked inside a DeFi protocol, providing the liquidity needed to cultivate rewards. This loss might be temporal or permanent if you need to withdraw or trade those funds at a certain moment.


Additionally, maybe you deposited X amount of tokens in equal proportion. Let’s say 50% in ETH and 50% in USDC. However, at the moment of withdrawing the funds, they can give you 30% in ETH and 70% in USDC, so to say. This is because the liquidity pool may need more ETH at that moment for the token swappers, so, you’ll probably lose money if the ETH price is rising. Will it worth the rewards from the fees in the pool then? Maybe yes, or maybe no.


That’s definitely a variant that doesn’t exist in the Crypto Staking. However, the higher reward per staking is around 323% for Tendies (TEND), while Liquidity Mining offers more exuberant rewards. For example, the pair DAI-BNB in the pool PancakeSwap has a promised 18,647% APY at the moment of writing, according to CoinMarketCap. But again, the risk of impermanent loss is high.


Finally, then, Crypto staking or Liquidity mining? That depends. Don’t focus from the beginning on how much you want to earn, but how much you want to invest, and how much you can afford to lose. Then, there is your answer. Remember to trade responsibly!

Binance To List Microsoft , Apple as Tokenized Stocks in its Platform

Binance To List Microsoft, Apple, MicroStrategy As Tokenized Stocks |  CryptoGazette - Cryptocurrency News

 The exchange said it would list Microstrategy (MSTR), Apple (AAPL), and Microsoft (MSFT) stocks as tokenized tokens, per a notice posted on its website. This follows the earlier listing of Coinbase and

 Tesla tradable tokens listed earlier this month.


Binance’s stock tokens are referred to as tokenized equities that can be traded on traditional stock exchanges.


The new arrangement will provide Binance users with the opportunity to qualify for economic returns on the underlying shares, including potential dividends.


Instructively, the tokens will be denominated in the exchange's stablecoin, BUSD.


Furthermore, interested retail investors can purchase as low as one-hundredth of a regular stock using BUSD.


The exchange will list MicroStrategy's tokens later today, at 1:30 PM UTC. Apple tokens will follow two days later, on April 28th. Microsoft's stock tokens would be added much later, on April 30, 2021.


These tokenized shares qualify their holders for economic returns, including dividends. Each tokenized stock is backed by a depository portfolio held by German investment firm CM-Equity AG.


Regulations On Binance Stock Tokens

Tradable securities are a new turf for Binance, which explains why regulators are hot on the heels of the exchange.


In Hong Kong, there are already concerns about whether or not the exchange secured a license to market security tokens in the region. UK financial watchdog, the Financial Conduct Authority (FCA), is also investigating Binance for securities law compliance.


Although the German regulator BaFin has been silent on whether an investigation into Binance’s stock tokens will be conducted or not.


However, BaFin maintains that if the tokens are transferable and traded on a cryptocurrency exchange for economic gains, then they could be regarded as securities and must operate with a clearly defined prospectus.


In an interview with Bloomberg, Binance CEO Changpeng Zhao said that all its products adhere to the European Union’s MiFID II.


Unlike BaFin’s claim, Zhao emphasized that there is no need for any prospectus because the tokens can only be bought and sold within the walled garden of CM-Equity.


The crypto trading exchange CEO clarified that the stock tokens might entitle investors to potential dividends; it doesn’t confer any voting rights relating to regular securities on holders.


Meanwhile, trading in securities falls under stiff regulation by governments across the world.

Bitcoin decline deepens to $48,000

 Biden's capital gains proposal also weighed on the price of Bitcoin (BTC-USD), which fell on Thursday for the sixth time in seven sessions. The slide pushed the crypto down as much as 8% to about $50,500, and it fell to the $48,000 level overnight. U.S. investors already face a capital gains tax if they sell the cryptocurrency after holding it for more than a year, and the fast action in alt-coin names like Dogecoin (DOGE-USD), Litecoin (LTC-USD), ZCash (ZEC-USD) - and plenty of others - is drawing comparisons to the late-2017 blow-off top in all cryptocurrencies.


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Stats: Yesterday was the first time since 2018 that Bitcoin accounted for less than 50% of total crypto market cap.


Bitcoin futures volumes have soared in recent months, becoming a crucial part of the market that can intensify price swings in the underlying cryptocurrency itself. The quick drop earlier this week reportedly followed a large liquidation in futures contracts, highlighting some of the biggest growing pains for the crypto market.

Bitcoin Briefly Drops Below $50,000



 Bitcoin declined for the seventh time in eight days, extending losses after President Joe Biden was said to propose almost doubling the capital-gains tax for the wealthy.


The slide pushed Bitcoin down as much as 3.6% to about $49,760, sending it below the low of $51,707 reached Sunday before it bounced back. The coin had tumbled as much as 15% over the weekend in the wake of a false report from an anonymous Twitter account that the U.S. Treasury was cracking down on crypto money laundering.


“One of the biggest things you have to worry about is that the things with the biggest gains are going to be most susceptible to selling,” said Matt Maley, chief market strategist for Miller Tabak + Co. “It doesn’t mean people will dump wholesale, dump 100% of their positions, but you have some people who have huge money in this and, therefore, a big jump in the capital gains tax, they’ll be leaving a lot of money on the table.”


Bitcoin retests recent lows

Read more: Wall Street Starts to See Weakness Emerge in Bitcoin Charts


U.S. investors in the digital asset, which has advanced about 75% year to date, already face a capital-gains tax if they sell the cryptocurrency after holding it for more than a year. But the coin’s been one of the best-performing assets in recent years -- anyone who bought a year ago is sitting on a 575% gain. For investors who bought in April 2019, that gain equals roughly 800%.


The IRS has stepped up enforcement of tax collection on crypto sales. The agency -- which began asking crypto users to disclose transactions on their 2019 individual tax returns -- asks taxpayers whether they “received, sold, sent, exchanged or otherwise acquired any financial interest in any digital currency.”


The nervousness among the crypto crowd can be seen in another rash of speculative tweets that popped up, just days after the earlier-debunked conjecture sent the market spiraling.


Cuba Adopts Cryptocurrency as Part of Communist Party Agenda

 Cryptocurrency is now officially part of the Communist Party agenda in Cuba. Over the weekend, Cuba’s government adopted a proposal to include cryptocurrency as part of the “economic and social policy guidelines of the party and of the revolution” until 2026.



In Cuba, public policy is discussed and decided upon in massive assemblies held by the country’s Communist Party. During the eighth congress of the Communist Party of Cuba, attendees proposed various changes that aim to improve the country’s economy amid global economic sanctions initiated by the United States.


The list of adopted proposals will function as a sort of general guideline that provide government bodies with objectives to accomplish over the next five years. One of those objectives will now be to “advance in the study of cryptocurrencies in the current conditions of the economy.” The idea that the island nation should explore ways to use crypto to circumvent economic sanctions had been previously discussed by government officials, but the recent measure makes it now official policy.


Details remain scarce and the Communist Party of Cuba has yet to flesh out its specific plans regarding cryptocurrency. But should the country take its cues from Venezuela, a fellow socialist nation and strong political ally, then anything from developing its own state-backed digital currency to making use of established cryptos such as Bitcoin or Ethereum, could be on the table.


Bitcoin meets politics

Bitcoin and cryptocurrency have increasingly become part of the larger geopolitical discussion. Just last week, PayPal and Palantir Co-Founder Peter Thiel floated the possibility of China using Bitcoin as a financial weapon that could threaten the US dollar’s global hegemony. All the while, however, several prominent US institutions like Tesla, BlackRock, Anthony Scaramucci's Skybridge and even Miami continue to look to Bitcoin as a potential inflation hedge, protecting their assets should the dollar decline.




Meanwhile, several countries around the world have begun to explore ways to use digital currency to diminish the US’s influence over their own economies. Nations such as Brazil, Iran, China, Bermuda, Venezuela, and the Marshall Islands have taken various approaches that range from supporting the cryptocurrency mining industry to developing sovereign digital currencies. Venezuela has taken it a step further and confirmed that it now includes Bitcoin and Ethereum as part of its international reserves.


While it remains unclear what approach the Cuban government will take with crypto, citizens of the island nation aren’t waiting around, as Bitcoin adoption continues to rise.


While cryptocurrency adoption remains low relative to the general population, small communities of Bitcoin users in Cuba are flourishing—and growing. As Decrypt reported last year, software developers in the country are increasingly looking for ways to make it easier for people in Cuba to access Bitcoin, despite the country’s poor internet infrastructure.

French far-right leader Marine Le Pen backs retired generals’ hint at military uprising in France

               Far-right leader Marine Le Pen said France is at risk of a “civil war” as she prepares to tackle President Emmanuel Macron in...

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