Bitcoin

JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins. JPMorgan’s CEO on Bitcoin and Its Supply Cap The CEO of global investment bank JPMorgan Chase, Jamie Dimon, reiterated his skepticism about bitcoin in an interview with CNBC Thursday. The JPMorgan executive… Source link

D-Keine/iStock Unreleased via Getty Images Bitcoin (BTC-USD) is on track to end the week over 13% higher, despite yet another cryptocurrency firm falling victim to the recent downturn in the digital asset market. The parent company of troubled crypto lender Genesis filed for bankruptcy, buckling under losses from the collapse of FTX and Three Arrows Capital. Markus Thielen, head of research at crypto services provider Matrixport, said the market appears to have priced in the Genesis… Source link

Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs.  As the crypto market turned bearish and liquidity seized within the sector, miners found themselves in a bad situation and those who were unable to meet their debt obligations were forced to sell the BTC reserves near the market bottom or… Source link

CNE’s decline departs from recent performance, and still remains the top performing sector for the month. The index itself is designed to capture price movements of assets within the virtual world, gaming, metaverse, art and social network universe. Notable assets include Axie Infinity (AXIE), Apecoin (APE) and Livepeer (LPT) Source link

A Chinese miner has sent nearly 5,600 bitcoin (BTC), about $124 million worth, to the Binance crypto exchange, blockchain data shows, in what might be interpreted as a move to sell the holdings. Bitcoin miner 1Thash sent almost its entire bag of bitcoin to Binance in a series of transactions earlier this week that were flagged by the analysis firm CryptoQuant. Binance is the largest crypto exchange by daily trading volume. The conventional wisdom among crypto traders is that large BTC inflows… Source link

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A visual representation of Bitcoin. Edward Smith | Getty Images Cryptocurrencies rose this week even as U.S. equities briefly retreated from their new year rally and a major crypto lender submitted a long awaited bankruptcy filing. Bitcoin was last higher by about 12% for the week, according to Coin Metrics, while ether has risen 14%. related investing news By comparison, two of the three major stock averages were on track to post a losing week, which has been shortened for the Martin Luther King… Source link

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their… Source link

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Euro Pacific Asset Management’s chief market strategist Peter Schiff – who is well known for his pro-gold, anti-bitcoin stance – recently took to Twitter to say that the rally seen in Bitcoin over the past week has overshadowed the performance of gold, and that the precious… Source link

Lawmakers from the U.S. states of Mississippi and Missouri have introduced bills that seek to legally protect their citizens’ rights to run a Bitcoin node and to mine BTC. Excerpt of Mississippi’s bill Excerpt of Missouri’s Bill Bills have been submitted to both the Houses and Senates of the respective states, with Senator Josh Harkins (R) and Representative Jody Steverson (R) leading the movement within Mississippi. Representative Phil Christofanelli (R) of Missouri submitted its… Source link