The Financial Conduct Authority (FCA) has warned that businesses that promote cryptocurrencies outside of one of four approved channels might be subject to criminal penalties including up to two years of jail time. Any advertising under the new regulations must be produced by or with the consent of an individual
Riot, a Bitcoin mining firm, claimed today that its monthly output hit a record 740 BTC in January. Despite a decrease in its fleet of mining equipment and hash rate capability. This is a 12 percent rise from the 659 BTC produced in December 2022. And a 62 percent increase
For the first time in five weeks, Bitcoin’s weekly trend finished on a bearish note. It soared at $24,000 but then dropped to just under $23,000. However, as long as it continues its upward tendency, the price of Bitcoin (BTC) is still comfortably rising above the $20,000 level. This has
While the cryptocurrency community attempts many ways to recover the market, a single entity withdrew more than $120 million in Bitcoin (BTC) from a centralized exchange Gate.io on February 4, 2023. According to whale tracker Mr.Whale, this is the second-highest withdrawal in the Gate.io exchange’s history. And currently, the crypto
At the StarkWare Sessions 2023, Visa’s head of crypto business Cuy Sheffield said that the corporation aims to create a “muscle memory” to settlements by enabling clients to convert digital assets to fiat currency on its platform. In a fireside discussion during the conference, Sheffield said: “We’ve been testing how
Zodia Custody, a subsidiary of Standard Chartered, and SBI Digital Asset Holdings have come to an agreement to form a joint venture in Japan that would serve as a custodian for crypto assets for institutional customers in Japan. SBI Digital Asset Holdings (SBI DAH) and Zodia Custody, which has the
While in Sri Lanka this week to film an edition of his “Meet the Drapers” TV programme with local businesses, billionaire investor and venture capitalist Tim Draper allegedly sought to persuade the government and central bank to accept bitcoin. According to Bloomberg, on Tuesday the billionaire met with Sri Lankan
In order to settle a $38.6 million debt to the New York Digital Investment Group (NYDIG), the once-prominent bitcoin miner Core Scientific signed an agreement to transfer 27,403 of its mining equipment to the latter. A few days before the holidays in 2022, the firm filed for bankruptcy. Over 27,000
The protracted bear market in Bitcoin and other cryptocurrencies led to a dramatic decrease in the value of WisdomTree’s digital asset holdings in the fourth quarter of 2022. As of December 31, 2022, the total value of the cryptocurrency funds managed by WisdomTree was $136 million. Down from $163 million
Overstock has a significant stake in the tZERO Crypto exchange, which will close on March 6 according to a tweet from the exchange on February 3. While the United States Securities and Exchange Commission (SEC) and other authorities determine the legal status of crypto assets. The business said it will
