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☆ 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 could hit a new high now that BlackRock's Larry Fink got 'orange-pilled' and became a true believer, billionaire Mike Novogratz says
▼ + stars: | 2023-07-31 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin could hit a new record high now that Blackrock's Larry Fink is a believer, Mike Novogratz said. "The most important thing that happened this year in bitcoin is Larry Fink," he said on Bloomberg TV. "I think the most important thing that happened this year in bitcoin is Larry Fink," the Galaxy CEO said in an interview on Bloomberg TV with David Rubenstein. This pivoting sentiment could help bitcoin surpass its $69,000 record set in 2021, Novogratz said, further supported by a future cut in interest rates. The token stands out for its use of an eyeball scanner, used to establish unique digital identities per user.

Persons: Bitcoin, Larry Fink, Mike Novogratz, Larry Fink's, David Rubenstein, —, Larry, Fink, bullishly, Novogratz, Fundstrat, OpenAI, Sam Altman, Altman Organizations: Bloomberg, Service, Galaxy, Securities and Exchange Commission Locations: bitcoin, Wall, Silicon, BlackRock

☆ 3 reasons countries around the world want to break up with the dollar
▼ + stars: | 2023-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

The US dollar has been the world's reserve currency for decades, but its dominance is fading. US monetary policies, the strong USD, and structural shift in the global oil trade also contribute. Here are three other reasons countries around the world are attempting to line up plans to possibly move away from a dollar-dominated world. The arrangement was formalized in 1945 when the oil-giant country Saudi Arabia and the US reached a historic deal wherein Saudi Arabia would sell its oil to America only using the greenback. In return, Saudi Arabia would reinvest excess dollar reserves into US treasuries and companies.

Persons: Valéry Giscard d'Estaing, —, Narendra Modi's, Luiz Inácio Lula da Silva, It's, Donald Trump, wasn't, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, Sarah Miller Organizations: Service, International Monetary Fund, Wilson, Reserve Bank of, Indian, Reuters, Allianz, Global, US, Washington Post, Energy Intelligence Locations: Russia, Wall, Silicon, Western, Ukraine, Washington, Brazil, Argentina, Bangladesh, India, France, Reserve Bank of India, China, South Africa, Saudi Arabia, America, Saudi

☆ These blockchain ETFs are soaring, but investors seem skeptical
▼ + stars: | 2023-07-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Many of the best performing thematic ETFs this year are related to cryptocurrencies and the blockchain as bitcoin rebounds, but investors have so far declined to embrace the rally. The Global X Blockchain ETF (BKCH) and the Bitwise Crypto Industry Innovators ETF (BITQ) , for example, are both up nearly 200% year to date. BKCH YTD mountain This Global X blockchain ETF has nearly tripled in price in 2023. ETF investors looking for crypto exposure could also be waiting for a more pure-play product. However, Weiskopf said that he thinks there is room for direct crypto exposure and blockchain funds.

Persons: bitcoin, Dan Weiskopf, —, it's, Weiskopf, BLOK Organizations: Innovators, Tidal Financial, BLOK, Global, Robotics, Intelligence, Securities, Exchange, Coinbase, Securities and Exchange Commission, BlackRock

☆ Bitcoin touches a 13-month high on BlackRock CEO comments, growing ETF optimism
▼ + stars: | 2023-07-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A pile of Bitcoins are shown here after Software engineer Mike Caldwell minted them in his shop in Sandy, Utah. The price of bitcoin touched a 13-month high on Thursday as optimism grew among investors that the U.S. could soon get a bitcoin ETF. Earlier in the morning, it climbed to about $31,450, reaching its highest level since June 2022. Sentiment among traders was high though, after BlackRock CEO Larry Fink said his firm plans to make it easier, and less costly, to invest in bitcoin. Bitcoin has steadily climbed since June 15, when BlackRock filed to launch a spot bitcoin ETF.

Persons: Mike Caldwell, Bitcoin, Larry Fink, Fink, Michael Sonnenshein, Sonnenshein Organizations: Metrics, Treasury, BlackRock, Fox Business Locations: Sandy , Utah, U.S

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. A team behind the decentralized social messaging app Damus, which is backed by Twitter co-founder Jack Dorsey, said on Tuesday that Apple could remove the app from its App Store within 14 days. The move could stall one plan to ease the use of bitcoin and turn it into a more convenient transnational digital currency. In its tweet, Damus said that Apple is worried that zaps could be used by content creators to sell digital content on its platform. They don't sell ads, and don't collect and sell user data, which are the classic ways that social networks make money.

Persons: Jack Dorsey, Damus, Apple, zaps, Dorsey, Tim Cook, Elon Musk, Musk, Ron DeSantis Organizations: Indian Institute of Technology, Twitter, Apple, Lightning, Damus, CNBC, Elon Locations: New Delhi, India

☆ Bitcoin's 72% rally to start 2023 helps push Michael Saylor's MicroStrategy to its first profitable quarter in over 2 years
▼ + stars: | 2023-05-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Michael Saylor's MicroStrategy posted its first profit in nine quarters to start 2023. The largest holder of bitcoin added 7,500 tokens in the quarter as it rallied over 70%. MicroStrategy added 7,500 bitcoin tokens in the first quarter, bringing its total to 140,000 tokens. But with the token's rally this year, MicroStrategy reported an impairment loss of $18.9 million for the quarter, down from the prior quarter's $197.6 million impairment. And after tapping a tax benefit of $453.4 million, MicroStrategy posted net income of $461 million in the first quarter, reversing from a net loss of $249.7 million in the fourth quarter.

☆ Crypto winter is over — and bitcoin could hit $100,000 by the end of 2024, Standard Chartered says
▼ + stars: | 2023-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Bitcoin's value could jump to as much as $100,000 by the end of 2024, Standard Chartered said in a note published Monday. The collapse of Silicon Valley Bank and other mid-tier U.S. lenders has solidified the case for bitcoin as a "decentralised, trustless and scarce digital asset," Standard Chartered analyst Geoff Kendrick said in the note. "We see potential for Bitcoin (BTC) to reach the USD 100,000 level by end-2024, as we believe the much-touted 'crypto winter' is finally over," Kendrick said in the report, titled "Bitcoin — Pathway to the USD 100,000 level." "Given these advantages, we think BTC's share of total digital assets market cap could move into the 50-60% range in the next few months (from around 45% currently)." The woes of Circle's USD Coin and other so-called stablecoins, which aim to achieve a 1-to-1 peg to the U.S. dollar, has also benefited bitcoin, Kendrick said.

☆ Crypto stocks rally after bitcoin breaks above $30,000 to hit a 10-month high
▼ + stars: | 2023-04-11 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Crypto-related stocks rose Tuesday after bitcoin broke above $30,000 to hit a 10-month high. Bitcoin miners Marathon Digital and Riot Platforms also edged higher in early-morning trading, having logged double-digit gains the previous trading session. Amplify's Transformational Data Sharing ETF, which tracks crypto stocks, has outperformed in 2023. The crypto stocks logged gains Monday even as the Nasdaq Composite — which tracks the tech sector more broadly but tends to move in lockstep with bitcoin — closed 0.03% lower. Read more: Bitcoin's nearing a breakout moment — prices topped $30,000 for the first time since June 2022

☆ Silicon Valley Bank imploded in a single day. It could just be the tip of the iceberg.
▼ + stars: | 2023-03-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +8 min

The Federal Reserve's prolonged period of low interest rates created many financial dislocations that are now flaring up. Case in point: Silicon Valley Bank imploded in a single day after surging interest rates caused it to sell a bond portfolio at a huge loss. The chaotic episode showed that the Fed's aggressive interest rate hiking regime could upend institutions that were once thought to be relatively stable. Since the Fed started raising interest rates in March 2021, bitcoin — formerly a highly touted inflation hedge — has plunged more than 65%. "Investors, smelling blood, then turn their attention to the next bank exposed to interest rate risk and specific credit risk, and then the next."

☆ Reddit cofounder Alexis Ohanian paid only $15,000 for ether worth $80 million today - and has made $50 million on the crypto and Coinbase stock
▼ + stars: | 2023-02-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

If the Reddit cofounder kept all of the coins, they would be worth about $80 million today. Ohanian made a total of $50 million from early bets on the crypto and Coinbase stock. "In hindsight, I didn't invest nearly as much as I should have," Ohanian told Forbes. Ohanian told Forbes that he owns at least 700 non-fungible tokens (NFTs). Moreover, in 2021, Ohanian spent over $500,000 worth of ether at today's prices on seven NFTs that he thought looked like Williams, and gifted his favorite one to her.

☆ Tesla's bitcoin holdings fell nearly $1.8 billion in value last year, as Elon Musk called crypto a 'sideshow'
▼ + stars: | 2023-02-02 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

The value of Tesla's bitcoin holdings fell nearly $1.8 billion last year, a company filing showed. CEO Elon Musk distanced himself from crypto last year, calling it a "sideshow to the sideshow." But 2022 saw a bloodbath for the vast majority of crypto assets, after a bull rally through most of 2021 where prices peaked. "We're neither here nor there on cryptocurrency," Musk told investors. The value of bitcoin has risen more than 40% through 2023 in a sign of returning bullishness for riskier assets after a dour 2022.

☆ Coinbase will chop 20% of its staff in a 2nd round of big job cuts, as its boss blames 'unscrupulous actors' for putting pressure on crypto
▼ + stars: | 2023-01-10 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Coinbase will cut 20% of its workforce amid a crypto selloff, its CEO Brian Armstrong said Tuesday. It's the 2nd round of big job cuts after the crypto exchange chopped 18% of staff in June. The crypto exchange plans to slash 950 jobs in a bid to reduce its operating expenses by 25%, he said in a blog post. "In 2022, the crypto market trended downwards along with the broader macroeconomy," he said. The job cuts are part of a restructuring plan that Coinbase expects to complete by the end of June 2023.

☆ Crypto had a catastrophic 2022. Here are 3 reasons it will bounce back again, according to analysts.
▼ + stars: | 2023-01-04 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

Analysts from Bernstein laid out why they're still bullish on the crypto space. But Bernstein analysts Gautam Chhugani and Manas Agarwal offer crypto true believers a few reasons to keep the faith. In a note published on January 3, they wrote that despite a catastrophic 2022, the larger crypto ecosystem still has potential. Much of the crypto space remains decentralized. Chhugani and Agarwal said FTX's collapse had hastened DeFi adoption, which makes DeFi a bright spot in crypto investing, according to crypto VCs.

☆ The internet-famous Shiba Inu who inspired 'doge' memes, and a joke cryptocurrency, is seriously ill with cancer
▼ + stars: | 2022-12-28 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Atsuko Sato said Tuesday that her Shiba Inu, Kabosu, was diagnosed with liver disease and leukemia. Shiba Inu dogs have an average life expectancy of between 12 to 15 years. It is unclear whether the Shiba Inu was Kabosu. Shiba Inu dogs have an average life expectancy of between 12 to 15 years. According to an Instagram post, Kabosu celebrated her 17th birthday in October.

☆ Cathie Wood breaks down FTX, Elon Musk, and Twitter in a new interview. Here are her 9 best quotes.
▼ + stars: | 2022-11-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Cathie Wood spoke to Bloomberg on Tuesday in a wide-ranging conversation on crypto, FTX, Elon Musk, and investing. She compared Sam Bankman-Fried's FTX to Bernie Madoff's Ponzi scheme, and shared her thoughts on Elon Musk, Twitter, and Tesla. "We do think bitcoin — and you can see through the behavior of the infrastructure it hasn't skipped a beat, not one beat — it's more secure than yesterday, the day before, the day before. "We think bitcoin is coming out of this smelling like a rose." "Think about the amount of data Twitter has, and think about the combination of that and artificial intelligence.

☆ Cathie Wood still sees bitcoin hitting $1 million by 2030 as the current crisis will have the token 'coming out of this smelling like a rose'
▼ + stars: | 2022-11-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Cathie Wood reiterated her forecast of bitcoin hitting $1 million by 2030 in a Bloomberg interview Tuesday. "Sometimes you need to battle test, you need to go through crises... to see the survivors." "Sometimes you need to battle test, you need to go through crises... to see the survivors," she said. "We think bitcoin is coming out of this smelling like a rose," she maintained. Similar to bitcoin, ether — the second largest crypto by market cap, behind bitcoin — has shed nearly 70% of its value year to date.

Hackers who stole around $477 million worth of cryptocurrency from collapsed exchange FTX have started to launder the funds into bitcoin . Blockchain analytics company Elliptic estimates that around $477 million worth of cryptocurrency had been stolen from FTX. The theft adds insult to injury to FTX, a once $32 billion crypto empire who collapse has sent shockwaves across the industry. Crypto compliance software company Chainalysis in a tweet on Sunday also confirmed that hackers are moving funds. The implosion of FTX has left Bankman-Fried a paper pauper and investors left unable to access their crypto assets.

☆ Still not sure what crypto is? Join the club
▼ + stars: | 2022-11-15 | by ( Allison Morrow | ) edition.cnn.com time to read: +10 min

The original crypto, bitcoin, emerged in 2009, out of the ashes of the worst financial crisis in modern history. The term “crypto” harkens to the way the networks are secured, using cryptographic systems (think: really, really elaborate encryptions) that make the tokens virtually impossible to counterfeit. Once the transaction is verified by the network it is stored — forever — in an immutable “block.”Bottom line: Blockchain is the underlying technology of the crypto world. And like, sure, people are starting to adopt blockchain systems outside the world of crypto, and they do seem to hold promise. The bitcoin network went public in 2009, created by an anonymous developer (or group of developers) using the name Satoshi Nakamoto.

☆ Bitcoin will fall further, says fund manager — until this one catalyst kicks in
▼ + stars: | 2022-11-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

One key thing is needed for a rally in bitcoin prices, according to Michael Howell from Cross Border Capital: liquidity. "They're completely connected," he said and warned investors that prices will likely fall further in the near term. "We have maximum liquidity tightness right now, and central banks are actually thinking about squeezing even more." Bitcoin rally Howell believes cryptocurrencies are "extremely liquidity sensitive" and might be one of the first indicators of changing conditions in financial markets. He added that as soon as central banks pivot away from monetary tightening, assets — including bitcoin — "will see a very sharp rally.

☆ How crypto giant Binance came to bail out its biggest rival, FTX, days after their billionaire founders got into a very public spat on Twitter
▼ + stars: | 2022-11-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

The CEO of Binance tweeted on Sunday the exchange would be liquidating all its FTT tokens due to "recent revelations." On Monday, FTX head Bankman-Fried tweeted "a competitor is trying to go after us with false rumors." Bankman-Fried announced on Tuesday his exchange FTX is to be acquired by Binance. The most recent brawl started on Sunday when Zhao tweeted Binance would be liquidating all its FTT tokens — a crypto token native to FTX — due to "recent revelations." The former announced the deal with Binance, and Zhao said Binance "signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch."

☆ In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents
▼ + stars: | 2022-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +32 min

Others arrange clandestine meetings via Telegram to swap the stablecoin tether for U.S. dollars in order to buy groceries. In Jan., police raided a small crypto mining farm in the hydro-powered town of Jezzine, seizing and dismantling mining rigs in the process. But mining crypto tokens to earn a living is not for everybody. Younes tells CNBC that he initially moved 15% of his money into bitcoin, and he kept the remaining balance in cash. Lebanon has six bitcoin ATMs — one in Aamchit and five in Beirut, according to metrics offered by coinatmradar.com.

☆ Buffett-backed digital bank Nubank to launch its own cryptocurrency in Brazil
▼ + stars: | 2022-10-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

The Brazilian digital banking startup Nubank will launch its own cryptocurrency in the country next year, marking the latest move into digital assets by a large financial institution. Nubank said Wednesday it will launch the token, called Nucoin, in the first half of 2023. In a press release, the company touts Nucoin as "a new way to recognize customer loyalty and encourage engagement with Nubank products." Nubank isn't the first bank to launch its own cryptocurrency. The Wall Street bank Goldman Sachs , meanwhile, has its own internal crypto trading desk.

Data from Bloomberg Economics shows that El Salvador tops its ranking of emerging market countries that are vulnerable to a debt default. Another survey by the institute found that 76 out of 100 small and medium-size enterprises in El Salvador do not accept bitcoin payments. But in 2022, recent data shows that only 1.6% of remittances were sent to El Salvador via digital wallets. Meanwhile, its other national currency, bitcoin, is revered for the fact that it, too, is impossible to mint out of thin air. "Bitcoin doesn't solve any of El Salvador's important economic problems," he added.

☆ Biden White House just put out a framework on regulating crypto — here’s what’s in it
▼ + stars: | 2022-09-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

U.S. President Joe Biden walks from Marine One to the White House following a trip from Michigan, in Washington, U.S., September 14, 2022. Here are some of the key takeaways from the White House's new crypto framework. Fighting illicit financeOne section of the White House's new framework on crypto regulation focuses on eliminating illegal activity in the industry — and the measures proposed appear to have real teeth. Crime is rife in the digital asset sector. Then there's the hypothetical digital dollar that would be the Federal Reserve's take on a CBDC.

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