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“# Bitcoin price set to rebound? BTC shorts on Bitfinex crash by 25% after record spikes ” Bitcoin (BTC) bears should watch out for a potential blow as the number of margined short positions on the Bitfinex exchange crashes by roughly 25%. The dataset dropped to 11,066 BTC as of 12:20 GMT Saturday, compared to…
“# Cointelegraph Exclusive: Artist Damien Hirst says NFTs are like ‘the invention of paper’ ” Damien Hirst, a contemporary artist known around the world, talked about similarities and differences between artwork and fiat currency as he prepared to drop 10,000 NFTs tied to his physical paintings. Speaking with Cointelegraph’s Andrew Thurman at his London studio…
“# Binance reportedly halts pounds sterling withdrawal for UK customers again ” Binance customers in the United Kingdom are once again left without a fiat currency withdrawal option on Binance. According to Financial News on Tuesday, the crypto exchange giant sent emails to affected customers informing them of the problem. However, the exchange reportedly has…
“# Crypto ownership has nothing to do with distrust in fiat: BIS study ” The Bank for International Settlements (BIS), a global financial institution owned by some of the world’s biggest central banks, is trying to dispel the theory that cryptocurrency ownership is linked to distrust in traditional finance. On Thursday, the BIS published a…
“# Crypto.com taps Circle for global dollar deposits ” Digital asset exchange platform Crypto.com opened a new U.S. dollar fiat on-ramp thanks to a new partnership with global payment provider Circle, according to a June 28 announcement. The partnership between Crypto.com and Circle enables users in over 30 countries to deposit dollars from their bank…
“# Bitcoin likely won’t entirely replace current financial system, Coin Center director says ” Bitcoin may not mean an end to traditional currency and banking, according to Peter Van Valkenburgh, research director at Coin Center. “I think there’s folks in the Bitcoin community who probably make too many noises about how Bitcoin is going to…
“# Bank of Indonesia joins central bank digital currency race ” The Bank of Indonesia is one of the latest global central banks to announce state digital currency plans amid a major spike in the country’s digital payments. Governor Perry Warjiyo said Tuesday that Indonesia’s central bank is planning to launch a digital rupiah currency…
“# State-backed digital currencies can disrupt financial systems: Report ” Central bank digital currencies, or CBDCs, could pose a threat to financial systems if related risks are not managed, Big Three credit agency Fitch Ratings has warned. Fitch Ratings released a report on Monday entitled “Central Bank Digital Currencies: Opportunities, Risk and Disruption,” which discussed the…
“# Banking system consumes two times more energy than Bitcoin: research ” Amid the ongoing concerns over Bitcoin’s (BTC) energy consumption, a new study states that the traditional banking system consumes much more energy than the Bitcoin network. Michael Novogratz’s cryptocurrency firm Galaxy Digital released a report Friday titled “On Bitcoin’s Energy Consumption: A Quantitative Approach…
“# UK will likely need to issue a digital currency, says BoE deputy governor ” The Bank of England’s deputy governor Jon Cunliffe has argued that a sea change in the issuance and circulation of public and private monies could make general access to a digital form of central bank money crucial for ensuring financial…