Selloff of risky assets spreads to cryptocurrencies

Major cryptocurrencies continued their multi-day sell-off on Monday (Jan. 24), as digital coins are moving in tandem with stocks which had a rough week around the world. Wall Street’s tech rout on Friday saw the S&P 500 and Nasdaq Composite log their biggest weekly percentage drops since Covid struck. The total market cap of cryptocurrencies fell below $2 trillion last week after

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Crypto rally appears to fizzle as 2021 comes to a close

Bitcoin and Ethereum prices continued to drop on Wednesday (Dec. 29), extending Tuesday’s slump amid fears of a tougher regulatory stance the United States Federal Reserve could take on cryptocurrencies in 2022. Bitcoin was trading 1.38% lower at $46,897.62 as of 8:14 am ET. A minute later, Ethereum lost 1.6% to go for $3,732.59. Other tokens also got hit. Cardano and Solana

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Norwegian Block Exchange to become first publicly listed crypto exchange in Nordics

Norwegian Block Exchange (NBX) announced on Friday (Dec. 3) that it has applied for listing on Europe’s Euronext Growth and plans to become the first publicly listed cryptocurrency exchange in the Nordic countries (Norway, Sweden, Denmark and Finland.) NBX was founded in 2018, by Bjørn Kjos, who also founded low-cost airline Norwegian Air Shuttle and Bank Norwegian. The idea was to make

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Will Bitcoin City be the solution to El Salvador’s economy?

El Salvador, the first country to use Bitcoin as legal tender, plans to construct a “Bitcoin City” with the popular cryptocurrency used to fund the project. The city will be built near Conchagua volcano in the south-eastern region of La Unión and will be circular to represent the shape of a coin, the country’s President Nayib Bukele announced during the Latin American

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Singapore warns of risks of cryptocurrency investing

The Monetary Authority of Singapore (MAS) warned against cryptocurrencies on Tuesday (Nov. 9), saying retail investors in these tokens are at risk of suffering “significant losses.” “The prices of crypto tokens are not anchored on any economic fundamentals, and are subject to sharp speculative swings,” Ravi Menon, managing director of the MAS said at the Singapore Fintech Festival which runs through Friday (Nov.

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Kazakhstan power restrictions to affect crypto mining

Kazakhstan once encouraged bitcoin miners to set up shop in the Central Asian nation offering subsidies and tax incentives, but now in the midst of an energy crisis, it’s looking to put a cap on the industry’s growth, local media report. Data from the Cambridge Bitcoin Electricity Consumption Index shows that Kazakhstan’s global share of cryptocurrency processing power has increased significantly, with the country

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Switzerland approves its first-ever dedicated crypto fund

Swiss markets watchdog FINMA said on Wednesday (Sept. 29) it had approved the country’s first fund that invests primarily in crypto assets based on the blockchain or distributed ledger technology. The fund, which is restricted to qualified investors, goes by the name of the “Crypto Market Index Fund” and will now be sorted under the category of “other funds for alternative investments”

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