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Showing posts from June, 2021

Bank Of France Governor: Europe Should Regulate Crypto As Quickly As Possible

      Bank of France governor François Villeroy de Galhau has recommended the urgent framework for cryptocurrency regulation to avoid potential erosion of Europe’s monetary sovereignty. France has been one of the most forward countries when it comes to virtual currencies. In 2019, for instance, the French parliament approved a law to enable cryptocurrency-focused companies to be licensed by the AMF, the country’s financial watchdog. Now, the central bank’s Villeroy has asked the European Union to urgently regulate the cryptocurrency space. This request advocates that cryptocurrencies should be regulated within one or two years or risk losing Europe’s monetary sovereignty. “I must stress here the urgency: we do not have much time left, one or two years. On both digital currency and payments, we in Europe must be ready to move as quickly as needed or risk an erosion of our monetary sovereignty — something we cannot tolerate,”  Villeroy  said  during a Paris Europlace financial conference

Over 650 US banks to offer Bitcoin trading to 24 million customers

A deal between two payments giants NCR and NYDIG, will allow community banks and credit unions to enable cryptocurrency trading via mobile apps. The move will allow direct competition between these institutions and cryptocurrency exchanges across the US.   Forbes recent article stated that National Cash Register (NCR) currently provides digital banking service to ATMs and point-of-sale establishments such as the restaurant business in 160 countries worldwide. It is the largest global provider of point-of-sale software, primarily to grocery and other retail stores, serving 180,000 restaurants and dominating the sector with a 45% market share.  Sometime in May, NCR partnered with Flexa to allow Sheetz customers to pay for goods with cryptocurrencies such as bitcoin, ether, litecoin, doge and others. Since then,  “dozens” of clients have reported to them that clients were using their savings to buy cryptocurrencies.  NCR decided not to try and dissuade their banking clients from buying bi

Mexico's Third Richest Person Said He Would Rather Hold Bitcoin for the Next 30 Years

  While saying that fiat currencies are all “scam,” Salinas Pliego stated that he'd rather hold only bitcoin for the next 30 years if he had to make a choice. Ricardo Salinas Pliego, Mexico third richest man remains with his approval for bitcoin by specifying that his bank is going to begin using BTC. He marked off BTC limited supply as its most key benefit, he also added that if he was to choose only one asset to invest for the next 30 years, it will certainly be Bitcoin. Pliego's Bank to Study BTC The Mexican industrialist, initiator, and chairperson of Grupo Salinas, has made known his support for the first cryptocurrency for years. His first purchase came at $8,000, and most recently, he advised every investor to think of getting at least a minimum amount for their personal portfolios. In a current interview in Mexico, he declared about the cryptocurrency once again and stated that having a finite quantity of only about 21 million coins to exist is “the pivotal part.” In ad

Understanding The P2P( Peer -to- Peer) payments Frame work and avoiding scam

 P2P( Peer -to- Peer) payment that doesn’t involve a third party  P2P exchange is a common way of exchanging cryptocurrency for fiat/local currency, this is done using the Escrow system. It’s important we get to understand the risk involved and how to avoid them Join us today Saturday26th June 2021 at 5:00pm @Clubhouse with Adedeji Owonibi, Founder & COO Convexity, Toju Kaka Blockchain Consultant & Convexity in-house Crypto Trader, Jahdiel Chris Chidi Founder Cryptocribz & President The Blockchain League  for a brief breakdown on the risk of P2P and how to avoid being scammed  Make sure to download the clubhouse app and join us this Saturday 5pm. Make sure to come along with your question as well. 👉 link to the session https://bit.ly/convexityhub

A $2.2 Billion Cryptocurrency Fund will be Set in Motion by VC Giant Andreessen Horowitz

  VC giant Andreessen Horowitz has declared their plans to start a new $2.2 billion fund concentrated on the cryptocurrency business. Abruptly, three years after announcing its first crypto-linked commodity, the private US enterprise capital company a16z has declared intentions to double down through a ‘wholly optimistic’ digital cryptocurrency fund. The firm’s associate called the corporation ‘the future of finance.” Established in 2009, Andreessen Horowitz is a project capital giant running from California that has already started various pro-cryptocurrency products. It has also initially engaged in the funding rounds of several DeFi protocols, as well as Uniswap. As stated by CNBC report from June 24th, a16z plans to issue its biggest fund targeted on cryptocurrency yet. Its antecedent funds will be $2.2 billion, which the company plans to dispense across blockchain and cryptocurrency start-ups. “The size of this fund speaks to the size of the opportunity before us: crypto is not on

Bitcoin's Bottom is Extremely Near Following Dip to $30k Sub Levels

  Stack Funds is still very bullish on bitcoin, declaring that its bottom is 'extremely near' following the huge decline to beneath $30,000. The recent price altercation that rode bitcoin to its bottom spot in almost six months put the cryptocurrency “exceedingly close” to the base, stated analysts from the crypto-oriented firm, Stack Funds. Nevertheless, they notified of possible high volatility in the coming weeks which is as a result of expiring quarterly BTC options and the unbolting of GBTC in July. What exactly is Bitcoin's base? The unstable nature of cryptocurrency market showed face again yesterday as bitcoin went through a very sharp fall back. The asset declined in price by more than $6,000 in a day to its most minimum price line since January of around $28,500. While, it bounced back speedily. The dip caught with traders as some went further to comment on the effect. As stated by strategists from Stack Funds, China’s clampdown on the business, and BTC mining are

MicroStrategy Now Has 100000 Bitcoins After Buying Extra, Worth $500 Million

  MicroStrategy obtained another substantial amount of 13,0000 bitcoins and the company now possesses 100,000 coins. So, MicroStrategy now owns 0.5% of all bitcoins that will ever exist after buying additional hunks of 13,005 bitcoins. The institutor and administrator of the NASDAQ-listed firm declared the recent purchase earlier on June 21st. This happened after the company  upraised  $500 million via an offering of senior secure notes, as announced earlier. MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin. As of 6/21/21 we #hodl ~105,085 bitcoins acquired for ~$2.741 billion at an average price of ~$26,080 per bitcoin. $MSTRhttps://t.co/gLfnOxZEZc — Michael Saylor (@michael_saylor) June 21, 2021 As Saylor described, the 13,005 coins were bought for just under $500 million with a standard price of $37,617. With this enormous purchase, MicroStrategy possesses 105,085 bitcoins. It has assigned an entire amou

Look Out: Fraudsters dispatch False Ledger Interchange to embezzle Digital Assets

A fake Ledger substitution have been sent by scammers to people who use Ledger devices, their purpose to rob them off their digital asset. This particular act has become a major challenge to all those using this popular hardware wallet. Users complained of getting fake Ledger substitution devices with the sole aim of taking their cryptocurrencies. Sham Ledger Interchange Ledger was established in 2014 and it came about a type of hardware wallet where investors hoard their cryptocurrencies offline. The company has experienced a notable increase particularly after the latest burst in price. Nevertheless, the growth of cryptocurrencies attracted scammers and Ledger has faced few disputable security violations which might result to lawful measures in opposition to the company. Scammers has taken upper hand of the violations by devising a new method. It was recently reported that a Reddit user lamented of been sent a brand new Ledger Nano X device looking exactly like the original one throu

Francis Suarez, Miami's Mayor said that Bitcoin miners discharged of China could find a new home with increased motivation.

Francis Suarez, Miami's Mayor said that  Bitcoin miners discharged of China could find a new home with increased motivation. The bitcoin miners who are forced out from China following the recent clampdown could find a dwelling in Miami, Florida. Francis Suarez, the city's mayor said that he's in work to reducing the tariffs for electrical power so as to lure more miners to the area. BTC Miners Moving To Miami? During a current interview with CNBC, Francis Suarez discussed about the town's bitcoin adoption but he focused more on Mining as well as the topic of chaste energy for Bitcoin. Miami’s mayor desires to employ the region’s affordable nuclear power to “make sure that our town has a chance to complete.” “We are talking to a lot of companies and just telling them, ‘Hey, we want you to be here.’ The fact that we have nuclear power means that it’s very inexpensive power.” – he added. While Suarez revealed that the present costs are still bigger than that of China, he a

Jessel Powell suggested that Elon Musk Should Read More About Bitcoin Mining.

Jessel Powell, the CEO of Kraken suggested that Elon Musk should take his time to learn more about Bitcoin mining as he is of the opinion that Bitcoin is greener than people understand.  In a recent interview lately, Jessel Powell, the CEO of Kraken mentioned that Elon Musk should read more about Mining of Bitcoin as it is a lot verdant than people think. The administrative also acknowledged that after the latest bull run, the crypto market has change state. Elon Musk Should Learn More About Bitcoin Mining. Elon Musk, the CEO of Tesla company stopped bitcoin payment last month and he stated his ecological bother. He has being continuously hammering on the giant energy utilization that bitcoin mining needs, and his opinion still stands despite the argument from various Tweets. Although, he made a positive assurance that the company will begin to accept bitcoin payments as soon as greater number of bitcoin start coming from renewable energy. Jesse Powell appears to think that Bitcoin is

World Bank Rejects El Salvador's Plea For Assistance On The Country's Transformation to Making Bitcoin a Legal Tender?

  The World Bank has rejected El Salvador’s plea for assistance on the country’s transformation to making Bitcoin a legal tender in their country. It referred to matters like the environmental effect and Bitcoin's lucidity as basis why it won't brace El Salvador decision to accept Bitcoin as a legal tender. "While the government did approach us for assistance on Bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings, " a World Bank spokesperson said. Nevertheless, World Bank offered to help in various other ways like  “currency transparency and regulatory processes." During the early hours of Wednesday, Salvadoran Finance Minister Alejandro Zelaya said the Central America country had sought scientific support from Banco Mundial (the World Bank). "I want to announce that we have requested technical assistance from @BancoMundial, so that like @BCIE_Org, they can accompany El Salvador in the implementatio