President Nayib Bukele of El Salvador introduced legislation on June 5, 2021, that would recognize Bitcoin as legal money in the country. Since then, El Salvador has been the pioneer in officially recognizing Bitcoin as a legal tender. That was the first time in history that a government had officially
A copy of Multicoin Capital’s yearly investor letter revealed a 91.4% loss for the hedge fund in 2022. The fall was blamed in the letter on the tumultuous year for cryptocurrencies and the direct and indirect effects of the FTX crypto exchange’s closure. The letter stated: “While the fund successfully
A legal lawsuit against MicroStrategy, an American business intelligence company, was rejected by the Superior Court of the District of Columbia. The lawsuit claimed that MicroStrategy assisted its co-founder, Michael Saylor, in avoiding paying income taxes. A new filing claims that in October, Saylor and MicroStrategy asked the court to
The recent talks about Bitcoin NFTs have gained massive attention. Post the launch of Ordinal at the start of the new year, the NFT marketplace saw a jump from leading NFT blockchains to Ordinals. Specifically, Ethereum and Solana were well-known leads in the field of NFT. Another major hit was
Another crypto industry giant Silvergate Capital is in danger of collapsing less than four months after Sam Bankman-Fried’s crypto exchange FTX and its sister company Alameda Research filed for bankruptcy. The global cryptocurrency market cap plummeted from $1.13 trillion to $1.02 trillion in just three days. The warning spread throughout
On Thursday, several cryptocurrency firms issued statements crafted to distance themselves from the crypto-friendly bank Silvergate Capital, whose shares have experienced a dramatic drop following the announcement that the firm would delay the publishing of its annual report and could report additional losses. Recently it was revealed that Coinbase, the
Following prominent crypto exchanges such as the Coinbase announcement, which made its distance with Silvergate bank, Bitcoin, Ethereum, and the rest of the cryptocurrency market have taken a significant blow. A sharp decline in the price of Bitcoin and across the global crypto market has sparked a flood of liquidations.
For the past two months, the global crypto market signals a sign of recovery from the 2022 prolonged crypto winter. As Bitcoin layer-2 protocol Stacks native cryptocurrency STX and SingularityNET AI token AGIX price surged more than 200% in a month. Stacks is a layer-1 blockchain that is designed to
The start of 2023 and February’s excitement over the cryptocurrency market turned to struggle at the end of Feb. After a prolonged 2022 bearish, the market signals recovery from Jan 1st, but the recent Federal regulator’s scrutiny over the crypto industry led top digital assets to face unstable price momentum.
Among the world’s most cryptocurrency-friendly locations in the United Arab Emirates (UAE). Ras Al Khaimah (RAK), one of the United Arab Emirates’ emirates, has made headlines by announcing the launch of the first free economic zone for cryptocurrency and other digital assets. The area’s business district is known as the
