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Business World

NFT Crypto Asset: Non Fungible Token’s loses steam after pandemic rush

Non-fungible token ( NFT) is a crypto asset. These are digital assets stored in the form of pictures, videos, audios and other e-files. Block-chain technology is used to track the ownership of such assets. The prices of NFTs are defined by what buyers are offering and willing to pay. It is a risky market since […]

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Business Insane World

Crypto exchange brothers disappear in South Africa with $3.6 billion worth of bitcoins

A major cryptocurrency fraud unfolded in South Africa after the disappearance of two brothers who ran a crypto investment company. In mid April this year Cajee brothers – Ameer and Raees – informed investors that all business operations at Africrypt would be put on hold due to a massive hacking attack faced by the company […]

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Business World

UK regulator bans crypto exchange Binance from conducting regulated activity

Binance, the world’s biggest crypto-currency exchange, has been banned by the UK’s financial regulator. The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any “regulated activity” in the UK. It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns on cryptoasset investments. This comes […]

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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

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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Business World

El Salvador could become the first country to make Bitcoin cryptocurrency legal tender

El Salvador could become the first country in the world to make Bitcoin crypto-currency legal tender in the country. President Nayib Bukele said Bitcoin will make it easier for Salvadorans living abroad to send payments home. He said he would send the legislation to congress next week. Should it pass, the move would open up […]

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Social Media Reactions

Elon Musk’s Bitcoin breakup tweet sends the crypto market crashing

The price of bitcoin sank on Friday after Elon Musk appeared to lament the end of his relationship with the cryptocurrency. The Tesla CEO tweeted a meme about a couple breaking up along with the bitcoin hashtag and a broken heart emoji. The post included lyrics from a song by rock band Linkin Park titled […]

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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 […]