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☆ The Winklevoss twins just invested millions in a tiny British soccer club
▼ + stars: | 2024-04-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Tyler Winklevoss and Cameron Winklevoss (L-R), co-founders of crypto exchange Gemini, on stage at the Bitcoin 2021 Convention in Miami, Florida. Cameron and Tyler Winklevoss, the billionaire twins known for suing Mark Zuckerberg for allegedly stealing their idea for Facebook, are investing millions of dollars into a small English soccer club. The twins, who today run the crypto exchange Gemini, announced Friday that they've invested $4.5 million worth of bitcoin in Real Bedford Football Club (RBFC), making it the "first football club powered by bitcoin," according to a statement Friday. RBFC, a non-league, semiprofessional club from Bedford, England, was purchased in 2022 by bitcoin investor and podcaster Peter McCormack. The latest deal will see the Winklevoss twins serve as co-owners of RBFC, alongside McCormack, a lifelong Bedford resident.

Persons: Tyler Winklevoss, Cameron Winklevoss, Cameron, Mark Zuckerberg, they've, RBFC, podcaster Peter McCormack, McCormack Organizations: Facebook, Real Bedford Football Club, Bedford, CNBC Locations: Miami , Florida, Real, Bedford , England, bitcoin

☆ The upcoming Bitcoin halving is different from others before it. Here’s what investors need to know.
▼ + stars: | 2024-04-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Stock Chart Icon Stock chart icon Bitcoin (BTC), entering its fourth halving period next week. After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top. The halving occurs when incentives for bitcoin miners are cut by half, as mandated by the code of the Bitcoin blockchain. Zoom In Icon Arrows pointing outwardsThat $30 million assumes a bitcoin price of about $70,000. Diminishing returns from halving to halving Bitcoin has always shot to the moon in the months following its halving – that's what makes it such a celebrated day among enthusiasts.

Persons: Yu Chun Christopher Wong, bitcoin, Antoni Trenchev, it's, Steven Lubka, Swan Bitcoin, Trenchev, Swan's Lubka, Lubka Organizations: S3studio, Wall, Swan, Miners

☆ Texan bitcoiners start mining in Argentina, where peso is in freefall
▼ + stars: | 2024-03-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

For two Texas-based bitcoin miners, the oil deposit offers a dream resource: wasted energy. Brent Whitehead and Matt Lohstroh, both graduates of Texas A&M University, have been mining bitcoin on the oil fields of East Texas since 2019. That's when they founded Giga Energy with the goal of taking flared natural gas and turning it into electricity to run bitcoin mines, which are notoriously power-thirsty. Whitehead comes from a long line of "wildcats," a term used to describe those who engage in high-risk exploratory drilling. On the small pilot site in Argentina, Exa Tech is handling operations on the ground, Phoenix Global is providing the gas and Giga is supplying the equipment.

Persons: Brent Whitehead, Matt Lohstroh, Vaca, Whitehead Organizations: Texas, M University, Giga Energy, Giga, Phoenix Global Resources, IT, Tech, Energy Systems, CNBC, wildcats, Exa, Phoenix Global Locations: Texas, Argentine, Mendoza, East Texas, Argentina, Shanghai, Vaca Muerta, Denver

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Crypto’s 2023 was marred by fraud and scandal. It was its best year ever
▼ + stars: | 2023-12-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. Bitcoin, the crypto’s bellwether asset, is up 160% for the year. “It was the year of crypto’s resiliency,” Kyla Curley, a crypto expert and partner at global advisory StoneTurn, tells CNN. “Fraud is fraud,” Curley says, “Regardless of the technology or the industry … you cannot stop human nature. Adding to that bullish sentiment: the bitcoin halving, or, more menacingly, “the halvening.”While it’s often a buy-the-hype-sell-the-news kind of event, the halving does tend to push bitcoin higher.

Persons: New York CNN —, “, ”, Sam Bankman, Zhao, Alex Mashinsky, Heather “ Razzlekhan ” Morgan, Ilya Lichtenstein, ‘, Bonnie, Clyde ’, Bitcoin, crypto’s, ” Kyla Curley, ” Curley, Changpeng Zhao, Eduardo Munoz, Costas Baltas, Faryar Shirzad, bitcoin, ” Antoni Trenchev, ” Trenchev, Warren Buffett, Anthony Scaramucci, “ Bitcoin Organizations: New, New York CNN, New York CNN — Crypto’s, CNN, Department of Justice, crypto’s, grifters, Bitcoiners, SkyBridge Locations: New York, SBF, Bitcoin

☆ Ethereum founder Vitalik Buterin travels the globe to keep crypto alive as the U.S. cracks down
▼ + stars: | 2023-09-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Today, the biggest challenge for Buterin and the ethereum community is making sure that it provides actual value to people. Buterin was named the world's youngest crypto billionaire at age 27 as the crypto market swelled to its peak in 2021. And he isn't, according to his own estimation, the be-all and end-all authority on the ethereum network. About the ethereum network, he says, "On the other hand, you've got your laptop. In terms of what's next for ethereum — Buterin says a big priority is focusing on privacy and scalability through zero-knowledge rollups.

Persons: Vitalik Buterin, Buterin, coder, doesn't, Czech Republic Pavel Sinagl, that's, clasped, Buterin wasn't, cryptocurrencies, Sam Bankman, Luna, they're, Dmitry, Vitalik, Dmitry Buterin, ethereum blockchains, you've, Satoshi Nakamoto, ethereum, — Buterin Organizations: CNBC PRAGUE, CNBC, Canadian, U.S . Tornado, Buterin, U.S, Securities and Exchange Commission, SEC, CFTC, People's Bank of China, tinker, Ethereum, Ethereum Foundation Locations: Prague, Russia, Czech Republic, Ukraine, Netherlands, Paralelní Polis, Holešovice, China, U.S, Africa, Argentina, Buenos Aires, San Francisco, CBDCs, Moscow, ethereum, Denver, Paris

☆ What it's like in Europe's popular crypto haven Portugal as the U.S. cracks down
▼ + stars: | 2023-09-09 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

They understood the importance of self custody of bitcoin, bitcoin on bitcoin blockchain, not on other chains." Sunrise over Lisbon, Portugal Alexander Spatari | Moment | Getty ImagesThe San Francisco of EuropeA walk through Portugal's capital feels eerily similar to a stroll in San Francisco. "This makes Portugal a really attractive place for crypto users to live," explained Shehan Chandrasekera, a CPA and head of tax strategy at crypto tax software company CoinTracker.io. The only exception to the country's generous crypto scheme relates to companies registered in Portugal that deal in crypto. Cyclists photographed in Lisbon, Portugal, in October 2018.

Persons: Alexander Spatari, PORTUGAL —, maximalists, Lorenzo Primiterra, He's, Peter Pan, Primiterra, Terra Luna, bitcoin, solana, Greenfield, Portugal Alexander Spatari, Jemson Chan, Chan, CNBC Guy Young, Seb True, CNBC Seb, True, That's, it's, bitcoiners, I've, Stephen Knowles, cryptocurrencies, Shehan Chandrasekera, Katie Ananina, Ethena's Young, —, Deley, Deley doesn't, that's, Didi Taihuttu, They've, Taihuttu Organizations: Campo Pequeno, maxis, CNBC Software, CNBC, titans, Securities and Exchange Commission, British, Abril, European, CPA, Cyclists, European Union, D7, Companies, Algarve Locations: LISBON, PORTUGAL, Lisbon, Italy, Portugal, Almada, Lisboa Region, outranking New York, Berlin, Singapore, European, Sunrise, San Francisco of Europe, San Francisco, bitcoin, Europe, Crypto, U.S, Egypt, Asia, Switzerland, it's, Puerto Rico, Australia, Canada, Ghent, Belgium, cryptocurrency, Cryptocurrencies, Lisbon's, Lagos, Angeles, Algarve

☆ What Grayscale’s bitcoin ETF victory over the SEC means for the cryptocurrency and an exhausted market
▼ + stars: | 2023-08-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin jumped 7% on investor hopes that the ruling will pave the way for approval of one or more spot bitcoin ETFs from BlackRock, Fidelity, Invesco and others. Yet the SEC's commitment to regulation by enforcement under Gensler, rather than laying out clear rules, has left companies struggling and hindered new bitcoin investors. If Tuesday's ruling does open the door to the first spot bitcoin ETF in the U.S., that could eventually push crypto prices higher. Owen Lau, an analyst at Oppenheimer, cautioned that Grayscale's court victory "doesn't necessarily mean the SEC will approve Grayscale's conversion, or that there will be a floodgate of spot bitcoin ETF approvals in the near term." Regardless, Tuesday's court decision "is not enough" to bust the market out of its summer stupor, Lau added.

Persons: Bitcoin, it's, Ric Edelman, Gary Gensler, Edelman, Owen Lau, Oppenheimer, Lau Organizations: SEC, ., Appeals, Securities and Exchange Commission, Fidelity, Digital Assets, Financial Professionals Locations: BlackRock, U.S

☆ Inside Prague's Institute of Crypto Anarchy — where they're plotting to bring down the dollar
▼ + stars: | 2023-08-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

Today, that union of minds finds refuge in Prague in a retrofitted factory building called Paralelní Polis, or "parallel world." The dark stucco of Polis' Prague headquarters is an outlier among the ornate, brightly-colored buildings that tower over it. ETHPrague 2023 was held at Paralelní Polis in the Czech Republic Pavel SinaglThe 'parallel world' concept is sticky. The Vienna branch goes so far as to self-describe as a living example of how "the Paralelní Polis cryptoliberation virus is spreading." The most popular Czech bitcoin YouTuber boasts 90k subscribers, while the annual Czech-only bitcoin conference called Chaincamp attracts around 2000 visitors, even during the bear market."

Persons: Czech Republic Pavel Sinagl, Ztohoven —, Ztohoven, provocateurs, Václav Benda, Dan Ligocký, Ligocký, William Lobkowicz, ethereum, Vitalik Buterin, Ethereum, Pavel Sinagl, Prague MacKenzie Sigalos, Holy, William, Ileana Lobkowicz, Josef Tětek, Tětek, isn't, biohacking, —, Carl Menger, Friedrich Hayek, BTCPrague, Michael Saylor, Satoshi cryptographer, Adam Back, Saifedean Ammous, bitcoin, Gary Gensler, bitcoin maximalist, Vaclav, — Matěj Žák, Jan Čapek, Christoph Kassas, YouTuber Jakub Vejmola, Jameson Lopp, Stephan Livera, Robert Breedlove, Stani Kulechov, Ondrej Polak, Czech Republic Pavel Sinagl Ligocky Organizations: Paralelní, CNBC, European Union, Polis, of Cryptoanarchy, Austrian, Securities, Exchange, Czech Craft, U.S, Treasury, Casa, Ethereum Foundation, Czech Blockchain Association, optimist Locations: Paralelní Polis, Czech Republic, Czech Republic Pavel Sinagl PRAGUE, Czech, Bohemian, Prague, It's, Polis, Polis —, Lobkowicz, Nazi, Vienna, Barcelona, Bratislava, Slovakia, Košice, Austrian, ., Alza, Bohemia, Europe, Old Town, Holešovice

☆ Bitcoin is poised to blow up Africa's $86 billion banking system
▼ + stars: | 2023-03-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Then there's mobile money, which has been around since the early 2000s. Africa's mobile money transactions rose 39% to more than $700 billion in 2021, according to data from the GSM Association, a non-profit representing mobile network operators worldwide. That cash network was extraordinarily difficult and expensive to build, which is why there aren't a lot of direct competitors. Bitnob is SMS-based and piggybacks on the mobile money system, making it easier for people to send money directly into bank accounts and mobile money wallets in African countries. "We're able to settle into bank accounts or mobile money accounts, without the recipients having to interact with bitcoin themselves," Parah tells CNBC.

☆ Bitcoin vs. FTX: Crypto king Sam Bankman-Fried is the problem
▼ + stars: | 2022-11-21 | by ( Joshua Hendrickson | Joshua Hendrickson Is An Associate Professor Of Economics At The University Of Mississippi | Senior Fellow At The Bitcoin Policy Institute. | ) www.nbcnews.com time to read: +8 min

Much of the crypto industry has deviated from the principles that were critical to the development of Bitcoin itself. But much of the crypto industry has deviated from the principles that were critical to the development of Bitcoin itself. As the stunning collapse of cryptocurrency exchange FTX highlights, the crypto industry is filled with scams, Ponzi schemes and bad actors. As a result, it has become increasingly clear that Bitcoin must be understood as something outside this crypto industry. Whereas Bitcoin was created to be a censorship-resistant, trustless digital form of money, crypto has become a space dominated by get-rich-quick-schemes.

☆ Crypto’s bear market is unlike others before it. This time the Fed's steering the ship
▼ + stars: | 2022-09-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +17 min

In any other year, the bitcoin price would have skyrocketed after the BlackRock announcement, but it didn't. Bitcoin hit its all-time high on Nov. 8, less than a week after the Fed first introduced the tapering . "Bitcoin OGs want to believe that it's a risk-off asset – that's a long-term trajectory," said Burak Tamac, senior researcher at CryptoQuant. It's bitcoin that's received so much hostility about being environmentally unfriendly, but myths about the cryptocurrency's environmental impact are slowly being debunked . Beyond bitcoin, crypto remains just a little too out of reach for many.

☆ I was in El Salvador, where bitcoin was accepted everywhere. Here's why their risky crypto experiment just might work.
▼ + stars: | 2022-03-16 | by ( Alex Kantrowitz | ) www.businessinsider.com time to read: +5 min

Bitcoin enthusiasts are waiting to see if if the bitcoin experiment will succeed, or tragically implode. Right after I hopped out the back of a pickup in El Zonte, El Salvador, I recognized I wasn't in an ordinary beach town. The bitcoin movement in El Salvador began in El Zonte when a California surfer named Mike Peterson received an anonymous $100,000+ bitcoin donation for the town's residents. For bitcoin's true believers, there's a ton riding on the El Salvador experiment. El Salvador's bitcoin experiment may not work, it could implode, but there's a chance it succeeds, and that makes it worth trying.

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