Bitcoin: be prepared to lose all your money, FCA warns consumers

Jan 11, 2021 | Aggregated Cryptocurrency News, Bitcoin News Wire

Posted by: Bitcoin News Editor
in Bitcoin News Wire
1 hour ago

Consumers should be prepared to “lose all their money” if they invest in products that promise high returns from cryptoassets such as bitcoin, the City watchdog has warned. The Financial Conduct …
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For the tech world, 2021 has started off on a rather strong and unusual note.Perhaps it was a long time coming, but the world seems to have suddenly taken a turn toward personal accountability and control over their data.This was marked earlier this week when Tesla Founder, Elon Musk took to Twitter last week to slam Facebook’s latest privacy policy updates.The updates effectively allowed Facebook to have direct access to data from messages that private users send and receive from businesses through the platform. Although the update does not affect the privacy of messages that users exchange with friends and...

January 15, 2021

Uniswap has seemingly gotten back on track after eclipsing $3 billion in liquidity for the first time since November The decentralised on-chain protocol currently has a liquidity of $3.21 billion according to Uniswap’s official stats. It started showing signs of hitting $3 billion at the start of the week and surpassed the mark yesterday. The trading volume sits at $655.3 million — up 21% in the last 24 hours. Uniswap’s total liquidity. Source: Uniswap The last time Uniswap touched such a high was in November last year before plunging after farming ended. It was the world’s leading DeFi project then...

January 15, 2021

Hey there, Geckos! Our November Monthly Report is here! It’s been quite a roller coaster ride this past month with so much going on in the crypto space. To name a few, Bitcoin (BTC) successfully hit a new All-Time High at $19,725, DeFi protocol hacks that cost nearly $70 million in losses, as well as a new yearly high in open interest for the Bitcoin Derivatives market. In addition to that, we saw large financial corporations such as Square, PayPal, and DBS Bank continue their efforts in adopting it as part of their hedging strategies. Here are our 5 key...

January 15, 2021

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January 15, 2021

A Short Introduction To What Influences Money Supply In The Modern Economy It’s undeniable — the world runs on money. This thought is ingrained in all of us and we all understand it deeply. This is evident by the fact that we spend vast amount of hours every day in order to attain more of it. In the Bitcoin space, we constantly see news, memes and critiques about how the central banks have printed absurd amounts of money yet again. The truth of the matter is that the monetary system does not work quite as simply as that — there...

January 15, 2021

Published on January 14th, 2021 by BTCMedia Click to download audio version My guest is Derek Muhney, Director of Marketing & Strategy at CoinSource the largest Bitcoin ATM network in the world. We are discussing the impact the 2020 pandemic is having on their business, about how Bitcoin ATMs work, and Bitcoin's future from his perspective. Topics: Derek's personal Bitcoin story Coinsource's company development Impact of the pandemic Volume of transactions and users How does a Bitcoin ATM work from the user perspective Setting up an ATM Privacy and regulation Bitcoin's future from his/company perspective Shownotes on the episode page...

January 15, 2021

Bitcoin initially became popular as a way to pay for illegal goods on the dark web marketplace the Silk Road. But just recently as cryptocurrencies enter the mainstream media once again, the current most active marketplace on the dark net has ditched Bitcoin in favor of Monero. Here’s why Bitcoin’s use as a dark web currency is diminishing, and why Monero could see a surge in adoption as the one cryptocurrency the government can’t infiltrate. Without The Dark Web, The Bitcoin We Know Today Might Not Be Bitcoin price is now trading at nearly $40,000 per <a class="wpg-linkify wpg-tooltip" title="CoinA...

January 15, 2021

LTC Price Prediction – January 14 LTC/USD manages to maintain its position above the 21-day MA, while the bulls are trying to defend the support at $140. LTC/USD Market Key Levels: Resistance levels: $175, $185, $190 Support levels: $125, $120, $115 LTCUSD – Daily Chart After being locked below the 9-day and 21-day moving averages on the price charts a few days ago, LTC/USD undergoes a much-needed break to the positive side as the market opens today. The coin is seen posting gains of around 1.9% in the last 24 hours, with the coin trading within the moving averages and...

January 15, 2021

Digital asset custody services provider Anchorage has secured conditional approval for a national trust charter from the US Office of the Comptroller of the Currency (OCC). The move makes Anchorage Digital Bank National Association the first federally chartered digital asset bank in history. Since launching in 2017, Anchorage - which counts Visa among its investors - has signed up a host of big name institutional investors as clients, helping them to keep their crypto assets safe.However, it hopes the charter will turbocharge business, saying: "Anchorage Digital Bank is the first entity to have both the tech and the regulatory clarity...

January 15, 2021

24 Exchange, the OTC platform backed by Fastmatch founder Dmitri Galinov, has lured FX media veteran Julie Ros to join as a marketing and business development consultant.Julie Ros founded Profit & Loss in 1999, which until November 2020 has published a print magazine twice a year, operated online news and events brand, as well as several other titles. While running two associated entities and managed a team located across the UK, US and Australia, Julie additionally launched several publications both print and online.Julie RosAnnouncing the new hire, Dmitri Galinov, CEO and founder of 24 Exchange, said, “Julie’s understanding of the needs of...

January 15, 2021

Chainalysis today published a blog post addressing how some of the most controversial and well-known figures of the alt-right are getting financial support outside of mainstream methods. Blockchain intelligence platform said a France-based computer programmer sent 28.15 Bitcoins to far-right activists who gathered outside the US Capitol before rioters broke into the building.The large cryptocurrency donation was sent to 22 separate addresses in a single transaction that occurred a month before protesters stormed the iconic building on December 8. Worth roughly $550,000 at the transaction date, nearly half of this mount was sent Nicholas Fuentes, the leader of a radicalized...

January 15, 2021

The hardware wallet company has offered a Bitcoin bounty to anyone that provides information leading to the arrest of the perpetrators Ledger announced in a blog post yesterday it would reward 10 bitcoins to anyone that delivers useful information regarding the ongoing data attacks. The current incident involves the e-commerce platform Shopify, which suffered a security breach last year. The breach resulted in a data leak of customers of about 200 of its merchants. Shopify reported that rogue members of its support team accessed and stole customer transactional records of several companies including Ledger. The wallet maker has admitted that...

January 15, 2021

Bitcoin is a digital currency introduced by Satoshi Nakamoto in 2009. Unlike fiat currencies such as Malaysian Ringgit, bitcoin is decentralized where it is not controlled by any entity and does not rely on governments or banks for issuance and oversight. Bitcoin allows you to stay pseudonymous while making transaction. Rather than using your name, only your sending/receiving addresses will be revealed. Bitcoin transactions are also relatively faster and cheaper when compared to traditional remittance. It takes around 10 minutes for someone on the other side of the world to receive bitcoin, rather than traditional remittance which takes a few days. A...

January 15, 2021

Posted by: Bitcoin News Editor in Bitcoin News Wire 1 hour ago Bitcoin has been trading near $40,000 today. Will it break through the resistance near that price level or suffer a pullback?Read Full Story The ForexTV Bitcoin editor automatically searches and aggregates stories related to bitcoin and other crypto currencies. Latest posts by Bitcoin News Editor (see all) Source

January 15, 2021

According to Bloomberg, bitcoin’s 9 million percent price rise makes it the best performing asset of the last decade. But what if I told you that even in 2021, Bitcoin is still one of the most undervalued assets there is? If you are one of those people who has thought of putting money into bitcoin, but just could not pull the trigger, then you are not alone. The crypto community today is flooded with people who, unfortunately, do not understand the fundamentals lying behind these digital assets. And because bitcoin has amassed a significant following of these “weak hands,” institutions...

January 15, 2021

As we are hopefully seeing the light at the end of the tunnel from the pandemic with proper distancing, masks, lockdowns, and vaccines, we should turn our attention to how business will be done in the post-pandemic economy.An often overlooked concern during these times is how to handle cybersecurity in an ever changing business setting. Many employees enjoy the freedom of working from home (WFH), however it makes for a much more fragmented and less secure strategy in trying to deal with securing a company network.At the start of the pandemic last year, hacking and phishing attempts were observed at...

January 14, 2021

Published on January 13th, 2021 by BTCMedia Click to download audio version “As books became more accessible and affordable, individuals were now personally consuming, reflecting upon and critiquing written texts. It was an idea meritocracy. No longer was “truth” conferred solely by the ordained to the illiterate masses inside of churches.” - Anil The Printing press was a revolution in the spread of information and communication, leading to the Renaissance and the age of Science & Reason. Bitcoin is a revolution in the dissemination & spread of real economic value. It will create a Renaissance that will dwarf that of...

January 14, 2021

Decentralized video streaming service Theta Network will host a three-month-long hackathon starting next week to develop innovations on the platform. “Join us in building products, integrations and tools for the Theta ecosystem to decentralize video infrastructure worldwide!” The Theta Network requests that programmers submit apps, SDKs, or protocols to improve its use case, functionality, and useability. Examples of such projects include integrations with other video platforms, dApps, NFTs, analytics tools, and block explorers. CEO Mitch Liu and CTO Jieyi Long will judge the submissions. The scoring criteria will weight 40% to value added to the Theta ecosystem, 40% on execution,...

January 14, 2021

If you’re a financial adviser, would you like to have a statistics-based way of accurately predicting which of your clients are about to bolt, and which are happy with you? Broadridge Financial Solutions, which provides technology to financial-services firms, says a partnership with artificial-intelligence start-up Fligoo has yielded software that can do just that — […] Source

January 14, 2021

The trading giant eToro has recently given out a notice that showed that customers should be prepared for disruptions within its crypto trading services. These disruptions were blamed on the “unprecedented demand” seen within the space at large. Too Much Demand And Too Little Supply The trading giant highlighted the “unprecedented” trading conditions that the crypto space is seeing, with Bitcoin’s total market cap and prices gently gracing its all-time highs once more. The eToro trading crypto trading platform was launched within the US back in March of 2019. As such, the crypto exchange platform didn’t have the chance to...

January 14, 2021

UBS is in talks to invest $400 million in Indian digital payments startup Paytm, according to Bloomberg. A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients, according to people close to the talks. UBS is negotiating the purchase of Paytm stock from a group of the Indian fintech company’s employees, the people said.Paytm was last valued at $16 billion during a 2019 funding round, but its price is likely to have risen substantially in a market where regulatory pressure for a move away from cash...

January 14, 2021

Market data provider, dxFeed said its revenues grew 33 percent year-over-year in 2020. The subsidiary of Devexperts did not reveal exact numbers but said it continued its five-year revenue growth trend and managed to post a total of over 400% increase since January 2016.dxFeed shared a few details about its operational metrics, with daily operations now supporting more than 6 million end-users through direct and B2B2C relationships. Other milestones in 2020 include entering the retail market, expanding the company’s product portfolio and presence in five new locations worldwide. In 2021, the firm plans to add additional market surveillance, analytics and...

January 14, 2021

Winklevoss twins-owned crypto exchange, Gemini announced on Thursday that it is going to launch Gemini Credit Card, offering rewards in digital currencies.The New York-based exchange acquired Blockrize, a startup already working on cryptocurrency reward systems, for accelerating its efforts of launching the crypto credit card.Commenting on the move, Gemini CEO, Tyler Winklevoss, said: “The Gemini Credit Card will make it easier for any consumer to invest in bitcoin and other cryptos without changing their existing behavior.”3 Percent Reward on TransactionsThe credit card will offer rewards of up to 3 percent in Bitcoin and other cryptocurrencies on every purchase. The rewards...

January 14, 2021

DOT/USD broke above a crucial horizontal resistance level at $10.5 before surging to $12.20 Polkadot (DOT) has surged to a record high of $12.20 and looks likely to extend its gains beyond $14.00 in coming sessions. DOT is up by more than 35% in the past 24 hours and currently trades around $12.07 on Kraken at the time of writing. The strong rally follows a break above a key horizontal resistance line at $10.50, which allowed bulls to build momentum above $11.00 and push higher. The uptrend saw Polkadot climb into the fifth spot among the largest cryptocurrencies by market...

January 14, 2021

Hey there, Geckos! The time has come for us to look back on the exhilarating time we had in 2020 with our Cryptocurrency Yearly Report! It was certainly an adventurous journey for the crypto space as we began to see more institutional investors trickling in. Companies such as Square, and Microstrategy have begun to adopt Bitcoin as part of their hedging strategies. In fact, institutional investors now hold a cumulative approximate of 1,172,065 Bitcoins (That's 6% of the current circulating supply!) in their treasuries according to bitcointreasuries.org at the time of writing. We experienced the rise of Decentralized Finance (DeFi)...

January 14, 2021

Today, cryptocurrency exchange Gemini announced its plans to launch Gemini Credit Card, which will reward users with bitcoin back for purchases, later this year. The launch announcement follows Gemini’s acquisition of Blockrize, a fintech company that had already been working on such a product. Gemini has started a waitlist for early access to the credit card that will also include Blockrize’s more than 10,000 waitlist members. “By combining Gemini’s simple, reliable and safe platform with Blockrize’s rewards program, card holders will be able to seamlessly earn up to 3 percent back in bitcoin, or other cryptos, on every purchase they...

January 14, 2021

The coronavirus pandemic has highlighted the necessity of quality nursing home care for senior citizens. While 25% of US coronavirus deaths occurred in nursing homes, the quality of the institution caused results to vary dramatically. As of September 2020, 4-5 star nursing homes had 94% lower risk of infection than their 1 star peers. When the pandemic ends, those disparities will remain. As the population of America ages, nursing homes will house more people than ever in the coming years.Despite ever-growing future demand, nursing homes remain unpopular among Americans of all ages. Only 19% of Americans think nursing homes make...

January 14, 2021

Published on January 13th, 2021 by BTCMedia Click to download audio version Algorithmic stablecoins like Ampleforth, Basis Cash, Empty Set Dollar and Frax are all the rage...but do these ostensible "ponzi" games have have any lasting value? In Part 1 of our 2 part series, Mechanism Capital analyst Ben Simon(@benjaminsimon97) joins us in discussing: The economic origins of algorithmic stablecoins The main trade offs of algo stable models How algo stables compare to other trustless stablecoins Ampleforth vs. Basis Cash Jason Choi (@MrJasonChoi). This show is not financial advice; show host and guest may hold some of the assets discussed....

January 14, 2021

Yearn.finance (YFI), a leading decentralized finance protocol, has been hyping up the launch of its v2 Vaults. While Yearn.finance is an umbrella DeFi ecosystem, it is currently best known for its Vaults product. Vaults are contracts where users can deposit cryptocurrencies such as Ethereum, USDC, YFI, and others to earn a regular yield paid in the <a class="wpg-linkify wpg-tooltip" title="CoinA coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.» Read more" href="https://www.newsbtc.com/dictionary/coin/" data-wpel-link="internal">coin they deposit....

January 14, 2021

XRP Price Prediction – January 13 The daily chart reveals that the Ripple price is range-bound as bulls fail to move the cryptocurrency to a new height. XRP/USD Market Key Levels: Resistance levels: $0.50, $0.55, $0.60 Support levels: $0.15, $0.10, $0.005 XRPUSD – Daily Chart According to the daily chart, XRP/USD is trading above the 9-day and the 21-day moving averages, the coin is also floating within the middle of the channel as the RSI (14) indicator moves in the same direction below the 50-level. The daily breakdown shows that the intraday support and resistance lie between $0.28 and $0.30...

January 14, 2021

Carne Group, the Irish-founded supplier of regulatory reporting and compliance software to the asset management industry, has secured a €100 million equity investment from Vitruvian Partners. Founded in 2004, Carne’s 350 employees in eight locations across the world manage the governance, compliance, regulatory and substance requirements for more than 550 asset managers and institutional investors. Corr, Carne’s compliance management technology platform is currently used to oversee $2 trillion in assets.Stephen Byrne, partner, Vitruvian Partners, satys: “We look for capital investment opportunities that are redefining industries, and this is exactly what attracted us to Carne. We have partnered with Carne to...

January 14, 2021

Malta’s financial watchdog, the Malta Financial Services Authority (MFSA), has issued a warning against an online trading platform that reportedly doesn’t have approvals to operate in the country.The bogus broker, called Betal Trade FX, is alleging to hold a category 3 license, which its registration number appertains to a legitimate, unrelated Maltese licensed firm. Category 2 and Category 3 licenses allow firms to offer contracts for differences (CFDs) and spot forex contracts under the MiFID regime.The financial watchdog wrote that contrary to claims on its website, Betal Trade FX was not a Maltese entity, not known to the MFSA or...

January 14, 2021

It wasn’t bad enough for former CTO of Ripple, Stefan Thomas, to forget the password required to unlock a Bitcoin wallet worth more than $240 million. It’s even worse when he realized that there’s little chance of getting it back.The German-born computer programmer has just two password attempts left before a hard drive containing 7,002 bitcoins seize up his fortune and encrypt everything forever.Stefan, who lives in San Francisco, earned his bitcoins as a reward for making a video explaining how Bitcoin works in 2011.[embedded content]At this time, each bitcoin was worth around $5 per coin. But as Bitcoin rose...

January 14, 2021

The pioneer cryptocurrency incurred significant losses between 10th January and 11th January. While the correction can be regarded as one of the most significant price drops in BTC’s recent history, whales appear to have bought the dip in hopes of prompt recovery Bitcoin Crashes After an Impressive Bull Run Bitcoin entered an impressive 330% bull rally that began in early September. Since then, the flagship cryptocurrency saw its price rise from a low of $9,864 to an all-time high of $42,000 on January 8th, according to the exchange rate of CEX.IO. Bitcoin did not experience any significant correction throughout this...

January 14, 2021

Hey Geckos! We hope you’re having fun collecting Candies and redeeming them for awesome rewards. Our most recent collection of NFTs were claimed in the blink of an eye! However, the process to claim and migrate them can be a little tricky so here’s a quick tutorial for you. We will be outlining the steps for you to claim your NFTs as well as the process of migrating them. To migrate the NFTs, there are actually two methods to do so: The first is to claim first and migrate later which is ideal for situations where gas prices might be...

January 14, 2021

Bitcoin is obviously scarce. And it seems to be becoming scarcer over time. But, perhaps due to the current bull run, doubts about both of these propositions are seemingly on the rise among bitcoin skeptics. Criticisms come in a few different flavors. The main one that I have seen argues that bitcoin cannot be scarce because it is highly divisible. Recently, that particular line of reasoning was subject to some particularly colorful discussions on Twitter. In this article, I want to clarify bitcoin’s scarcity. Let’s start with what the concept of scarcity actually means. What Is Scarcity? Scarcity is a...

January 14, 2021

Entrepreneurship today is an occupation distinct from all others. It can be characterized by great individualism, increased risk, and the lure of great reward. Successful entrepreneurs explicitly seek to increase their own prosperity, yet they often improve social welfare along the way. Their development is a topic widely discussed on the individual level by business literature. On the societal level, entrepreneurship and innovation traces back to the early modern era when Western society rejected their previous aristocratic deal (“do what I say and I’ll let you work”) in favor of the bourgeois deal (“leave me alone and I’ll make you...

January 13, 2021

Click to download audio version Filmmaker Jason Rink joins the program to talk about his latest project, a documentary presenting an inside look at the “Stop the Steal” movement that arose around the 2020 Presidential elections. Jason followed organizers and activists for weeks, getting a raw and uncensored look at the group that culminated in the shocking raid on the US Capitol on January 6, 2021. Jason was on the scene for the mayhem in DC and brings his own perspective on what happened. Are they patriots? Terrorists? A cult? Or just the end-product of an entire year of lockdowns,...

January 13, 2021

Bitcoin wobbled between gains and losses on Wednesday as traders measured on-chain sell-off signals against the drop in the benchmark bond yields. The flagship cryptocurrency surged around 0.5 percent to $34,335 ahead of the New York opening bell. It was trading at $35,233 on Coinbase exchange at its intraday high, pointing to bullish attempts to log another bull run towards $40,000. Bitcoin feels bearish sentiment under $35,000. Source: BTCUSD on TradingView.com Bitcoin feels bearish sentiment under $35,000. Source: BTCUSD on TradingView.com Fundamentals supported a choppy outlook in the cryptocurrency market. Benchmark Bond Yield Trims Lower The yield on the US...

January 13, 2021

Last year, LPL Financial sharpened its recruiting sights on wirehouse financial advisers by launching two new ways they can work with the independent broker-dealer. These channels may appeal to advisers who want to break away from the big national brokerages but prefer to focus on meeting with clients and managing their wealth over some—or all—of […] Source

January 13, 2021

Bitwise Asset management stands as a crypto index fund, and has recently published a survey that had discovered something interesting. According to the survey, there was a 50% yearly increase in the number of financial advisors that opt to allocate capital in the crypto space. More And More Advisors Trusting Crypto For Their Clients The survey itself was done with the partnership of ETF Trends, an investment website. It queried nearly 1,000 financial advisors based within the US, with findings indicate that 9.4% of these client portfolios held exposure within crypto. This stands as a start rise from the previous...

January 13, 2021

Buoyed by the pandemic-fuelled growth in cross-border digital payments, fintech-as-a-service platform Rapyd has bagged $300 million in a Series D financing round led by Coatue. Several new investors participated in the financing, including Spark Capital, Avid Ventures, FJ Labs, and Latitude, along with further investment from current investors General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital. The new financing gives the company a $2.5 billion valuation.Rapyd's platform enables businesses to accept and send payments without having to build their own infrastructure through the Rapyd Global Payments Network which supports hundreds of local payment...

January 13, 2021

Christine Lagarde, the President of the European Central Bank (ECB) called for global regulation of Bitcoin due to its speculative nature and usage in money laundering activities. The former Managing Director of the International Monetary Fund (IMF) added that the anonymous nature of the world’s largest cryptocurrency has raised several concerns.During her speech at the Reuters Next conference, Lagarde said that Bitcoin has conducted some funny business in the past including its usage in illegal activities. She asked for a comprehensive global regulation to cover the loopholes in Bitcoin.“Bitcoin is a highly speculative asset, which has conducted some funny business...

January 13, 2021

SIX announced today that it has welcomed the London-based financial services company, ETC Group to list a Bitcoin exchange-traded product (ETP) with a primary ticker symbol of BTCE. The trading product is available in three different currencies including the USD, CHF and GBP.According to the official announcement, the newly launched trading product (BTCE) tracks the price of Bitcoin and is 100% physically backed. The addition of ETC Group takes the total number of ETP providers at the Swiss Stock Exchange to 6. The exchange now offers a total of 34 ETPs.Commenting on the recent addition, Christian Reuss, Head of SIX...

January 13, 2021

Analysts predict a major upside swing for major altcoins as BTC dominance decreases Altcoins could be marching towards a bull run as Bitcoin (BTC) looks to stabilise above $30,000. The bullish outlook for altcoins is likely given most of the top 20 alts remain grounded, even after Bitcoin’s recent dumps. Ethereum (ETH) has, for instance, bounced above $1,000 and could target a new all-time high (ATH) well above the previous ATH of $1,432. Ripple (XRP) on the other hand continues to hold near $0.30 after struggling through a period of intense sell-off pressure. Elsewhere, major alts like Stellar (XLM), Cardano...

January 13, 2021

What is Eth2? Eth2 refers to the latest infrastructure upgrade of the current Ethereum blockchain (Eth1), which would improve the network’s scalability, efficiency, and sustainability by ironing out the existing bottlenecks and enabling the network to process more transactions. How does Eth2 differ from Eth1? Eth2 aims to solve three issues that have been haunting Ethereum: ScalabilityThe Ethereum network currently processes about 14 transactions per second (TPS). When demand surges, network users outbid each other in an attempt to have their transactions processed first.The increase in the network’s activity would cause the ecosystem to become congested and result in a...

January 13, 2021

Popular darknet marketplace DarkMarket, which hosted an estimated half million users, was shut down by German police authorities in a raid conducted over the weekend. Announcements from prosecutors in the cities of Koblenz and Oldenburg indicated that the operator of the marketplace was headquartered somewhere near the border between Germany and Denmark. The marketplace’s server was officially turned off yesterday. “Police in the northern city of Oldenburg ‘were able to arrest the alleged operator of the suspected world’s largest illegal marketplace on the darknet, the DarkMarket, at the weekend,’ prosecutors said in a statement,” according to Barron’s. The illegal marketplace...

January 13, 2021