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World

China orders banks and payment platforms to stop supporting cryptocurrency transactions

China ordered its banks and payment platforms to stop supporting cryptocurrency transactions. The price of Bitcoin slumped by more than 10% on Monday, and fell again on Tuesday, dropping below $30,000. The value of the cryptocurrency has fallen by about 50% since hitting a record high above $63,000 in April. On Monday, China’s central bank, […]

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Business World

El Salvador’s bitcoin experiment

El Salvador passed legislation to make Bitcoin – the largest of all the cryptocurrencies – as legal tender. It accepted the proposal of President Nayib Bukele to recognise Bitcoin as a medium of exchange to facilitate online transactions. The Central American nation became the first ever country around the globe to take this step. Why […]

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Business

Safe Bet: Cryptocurrency or Stock Market?

Investing your excess money in something ‘right’ is the best way to build your wealth, but picking the ‘right’ investment can be tricky. The stock markets have been around for decades, but cryptocurrency has made headlines lately. Here we take a look at how the traditional stock marketing industry works against the new age crypto […]

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World

Elon Musk makes crypto jump after his tweet says Telsa will allow Bitcoin when mining becomes clean

Elon Musk tweeted that his electric car company Tesla will resume allowing Bitcoin transactions when miners who verify transactions use more renewable energy. “When there’s confirmation of reasonable (~50 percent) clean energy usage by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” he said in a tweet on Sunday. Bitcoin surged […]

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World

El Salvador becomes the first nation in the world to approve Bitcoin as legal tender

El Salvador approved a proposal from President Nayib Bukele for a law to classify Bitcoin as legal tender, making the Central American nation the first in the world to do so. A majority of lawmakers voted in favour of the initiative late on Tuesday to create a law that will formally embrace the cryptocurrency, despite concern […]

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World

Donald Trump sees Bitcoin as a ‘scam competing against the dollar’

Former US President Donald Trump sees Bitcoin as a “scam” affecting the value of the US dollar. “Bitcoin, it just seems like a scam,” Mr Trump told Fox Business. “I don’t like it because it’s another currency competing against the dollar.” He added that he wanted the dollar to be “the currency of the world”. […]

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World

Elon Musk is ‘another rich dude desperate for attention’: Hacktivist target Tesla CEO for playing games with crypto market

A decentralised international hacktivist group, Anonymous, has threatened Tesla CEO Elon Musk to “expect” them, saying the games played by the entrepreneur with crypto markets seemed to have destroyed lives. In a video posted on the Facebook page of Anonymous, the hackers said that the “carefully curated” image of Elon Musk is getting exposed, and […]

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Insane

UK police raiding suspected cannabis farm find illegal bitcoin mining operation instead

When the police went to raid a suspected cannabis farm a massive bitcoin mine was found under operation in the West Midlands, United Kingdom. Police officials executed a search warrant in an industrial unit in Birmingham after receiving intelligence that the unit was being used as a marijuana farm. The department issued a press release […]

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Insane

Woman ‘mistakenly’ purchased drugs worth $663,500 using bitcoins on dark web

Cryptocurrency is very popular now and is used for all kinds of online transactions. Talking about on transaction, a woman disclosed how she had by mistake spent her Bitcoin fortune on the dark web to purchase drugs. Jia Tolentino a staff writer for New Yorker and a published author, revealed her own Bitcoin horror story […]

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World

Iran bans cryptocurrency mining for four months over widespread power outages across the country

Iran banned all cryptocurrency mining for the next four months as widespread power outages stir public dissatisfaction across the country. President Hassan Rouhani said that all crypto mining operations in Iran, including legal ones must shut down until the end of the sixth Iranian calendar month on September 22. “Now everybody has a few miners […]

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Insane

Florida man buys 20 billion ASS coins after missing Dogecoin rush

A 38-year-old unemployed man from Florida bought 20 billion Australian Safe Shepherd (ASS) coins with his $500 investment. Eric Hackney, 38, a former bartender from Tampa and lost his job during the COVID-19 pandemic. After being unemployed, he started to play the financial markets on the Robinhood app instead of working for $9 an hour. […]

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Insane

Mysterious ‘whale’ holds about 36.7 billion Dogecoins worth nearly $15 billion

The largest Dogecoin holder in the world is a whale, and it has further expanded its portfolio in the crypto crash last week. Data from Bitinfocharts shows that a Dogecoin address overall holdings to whopping 36.7 billion Dogecoins which are nearly worth $15 billion. The valuation was once close to $22 billion but has decreased […]