Category Archive : Europe

SHIB’s Unexpected Stardom Is Making Amazing Returns for Some Crypto Investors

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Manchin calls on wealthy to pay ‘patriotic tax’

“Everybody in this country that has been blessed and prospered, should pay a patriotic tax,” Manchin told reporters.The West Virginia Democrat said, “If you’re to the point where you can use all of the tax forms to your advantage, and you end up with a zero tax-liability, but have had a very, very good life and have had a lot of opportunities, there should be a fifteen-percent patriotic tax.”Manchin’s comments come after the Democratic chairman of the Senate Finance Committee, Ron Wyden, unveiled a proposal that would levy a new tax on billionaires to help pay for some of the social-service and climate change initiatives that are key to U.S. President Joe Biden’s domestic agenda.


Affirm founder Max Levchin on American Airlines deal, crypto

And the wins keep piling up for buy now, pay later outfit Affirm. 

The company announced this week it has inked a deal with American Airlines that will allow consumers to pay for their travel in installments. 

“It’s there to help travelers. Lots of people are going to try to go to a family getaway and not everyone is capable of paying for it instantaneously in cash,” said Affirm founder and CEO Max Levchin on Yahoo Finance Live.

For Affirm, the American Airlines tie-tup is the latest in a series of wins that have powered the stock higher by about 61% year-to-date.

Shares of Affirm exploded more than 48% on Aug. 30 after unveiling a new partnership with Amazon. Under the deal, Affirm will help Amazon consumers finance large purchases.

In early August, Affirm scored a financing deal with Apple for purchases of the tech giant’s products in Canada. In July, Affirm landed a deal with Shopify to power financing options for the platform’s U.S. merchants. 

Meanwhile, the company told investors at an event in September it will soon debut a new debit card and teased a foray into crypto.

‘Still fairly skeptical’

Levchin — a co-founder of PayPal — is still a touch skeptical of cryptocurrencies. But he acknowledges how important they have come in society and in financial services.

“As crypto and more established coins like bitcoin become part of the vernacular in the retail investing industry, I think it can orient as an asset class,” Levchin explained. “I am still fairly skeptical of a rapidly appreciating asset class being used as medium of exchange. So I don’t think it lives up to the currency name just yet, although as we know things are changing pretty rapidly.”

The volatility of crypto hasn’t stopped others in financial services to enter the waters.

Bakkt shares soared earlier this week after announcing a partnership with Mastercard to offer crypto debit and credit cards. The tie-up is alleged to make it easier for consumers to pay using digital coins,…


Texas Republicans want to make the state a cryptocurrency hub

ROCKDALE — Late last decade, the town of Rockdale appeared on the verge of economic ruin. The Alcoa aluminum plant there, which provided nearly 1,000 jobs, closed in 2008. The Luminant coal-fueled power plant shut down in 2017.

But now a new industry has come to the town of about 5,300.

North America’s largest bitcoin mine — owned and operated by Whinstone U.S. — sits just down the road from the old aluminum plant, about 60 miles northeast of Austin. The facility, which has added about 145 jobs, hasn’t fully filled the void created by Alcoa. But Whinstone U.S., which is owned by Riot Blockchain, is fast working to become a staple of the community: It helped rebuild the local dog shelter. It installed lights at the high school softball and football fields. It bought the town’s 32-foot-tall Christmas tree. Rockdale Mayor John King noted the company funds livestreaming for the high school sports events and donates fireworks for graduation.

Expansion plans are in the works to more than double the plant’s capacity and make it the biggest bitcoin mining facility in the world, according to Whinstone U.S. CEO Chad Everett Harris.

The city has found itself at the center of Texas’ ambitions. In recent years, Texas has rapidly drawn more and more in the cryptocurrency industry as state and federal lawmakers try to lay the groundwork for a blockchain technology explosion. Industry leaders say they are drawn to the state’s cheap energy and aversion to regulation.

Lyle Theriot, chief operating officer at Whinstone’s Rockdale facility, leads a tour on Friday. Credit: Michael Gonzalez/The Texas Tribune

“I would like to see Texas become the center of the universe for bitcoin and crypto,” U.S. Sen. Ted Cruz, R-Texas, said at the Texas Blockchain Summit, where 700 attendees,…


Eightcap and BKForex Will Organise One of The Biggest Crypto Trading Events of the Year – CryptoFest 2021

Disclaimer: This is a sponsored press release. Readers should conduct their own research prior to taking any actions related to the content mentioned in this article. Learn more ›

Melbourne, Australia, 28th October, 2021, Chainwire — BKForex, a renowned trading education provider, and Eightcap, a multi-award-winning broker, have recently announced that they will be organising the biggest online crypto event of the year. The partnership is part of Eightcap’s commitment to building a home for crypto derivative traders. The event will provide traders with everything they need to know about the crypto derivatives market.

CryptoFest will be held on October 30-31, 2021, and anyone interested in trading cryptocurrency CFDs may attend for FREE. Not only will the most popular crypto derivatives such as Bitcoin and Ether be covered, but CryptoFest speakers will delve into the best crypto trades of 2022 and will be covering cryptocurrencies that have been in the spotlight recently, including, Solana, Shiba Inu, Dogecoin, Cardano and more.

Co-founder of BKForex, Boris Schlossberg,…


Robinhood’s new earnings report raises concerns about the company’s reliance on crypto trading

Robinhood’s new earnings report raises concerns about the company’s reliance on crypto trading | Fortune


Bitcoin wallet from Satoshi era mysteriously activates after 11 years

A bitcoin wallet last active in May 2010 suddenly activated in October 2021 (Getty Images/iStockphoto)

A bitcoin wallet that has been dormant since the time that the cryptocurrency’s anonymous creator was still active online has suddenly activated.

The wallet was last used on 17 May, 2010, less than one year before the pseudonymous Satoshi Nakamoto sent their final emails to fellow crypto developers.

Follow The Independent’s live coverage of bitcoin and the rest of the crypto market

The 50 bitcoins contained within the wallet were worth less than $4 when they were last used 11 years ago. Bitcoin’s astonishing price gains since then mean the funds are now worth more than $3 million at today’s rates.

The semi-anonymous nature of bitcoin means it is possible to track transactions on the public blockchain, however it is not possible to link them to an individual or group.

It is not the first time a so-called “sleeping whale” has awoken this year, with a similar sum from the same time period moved back in July.

The 50 bitcoins acquired at that time come from the mining reward size, which was 50 BTC per block at that time.

Last month, a bitcoin wallet containing 616 BTC also activated after not being used for nearly nine years.

Bitcoin’s underlying technology means only 21 million bitcoins will ever exist, however several million have been stuck in decades-old wallets whose access keys may have been lost or forgotten forever.

The most valuable dormant wallet currently contains nearly 80,000 BTC – roughly $5 billion at current exchange rates.

The cumulative sum held in bitcoin addresses that have been dormant for more than nine years is well in excess of $20 billion, according to data from BitInfoCharts.

This is nearly 2 per cent of bitcoin’s entire market cap, while recent analysis from crypto market intelligence firm Glassnode estimated that roughly one third of all bitcoins are owned by long-term holders.

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Shiba Inu coin price sky rockets to all-time…


Man Shot Dead In Hail of Gunfire Over Crypto Mining Rigs, Police Say

On October 20, a man opened fire on people attempting to steal his cryptocurrency mining equipment in the Abkhazia region bordering Russia. According to police, the man killed one of his own friends while fending off the attackers and is now in custody.

Abkhazia is a disputed territory along the Black Sea where officials have been fighting cryptocurrency miners for years. Electricity in the country is ten times cheaper than in neighboring Georgia and miners have flooded the area and stressed the power grid, leading to rolling blackouts. The problem is so bad that Abkhazia has estimated there is one crypto-mining facility for every 400 residents. Abkhazia briefly legalized mining, but then outlawed it again this year and began to seize and destroy the machines.

Authorities in Abkhazia have just started the investigation of the cryptocurrency shooting but early reports indicated it was a robbery gone wrong. According to a statement from the General Prosecutor’s Office of Abkhazia, a group of men running a cryptocurrency mining operation in the village of Aatsy tried to stop the theft of their machines by at least five men using Kalashnikov rifles and Makarov pistols. Amid the gunfire, police say that one of the men killed his friend. 

“When stopping the theft of equipment for the extraction of cryptocurrency by at least five persons, they opened fire from the available firearms, as a result of which Pachial R.G., realizing the social danger of his actions when firing shots from close range, comitted the murder of A.B. Ardzibna,” the statement said, according to Google translate.

According to Echo of the Caucasus, there are conflicting reports about what actually happened during the shooting. The official statement is worded strangely and friends and family of the deceased are keeping quiet so as not to disrupt the investigation, though the outlet notes that it appears indisputable that the shooting occurred around and because of a Bitcoin mine.



El Salvador invests over $25m in Bitcoin dip

El Salvador president, Nayib Bukele, announced that his country has invested in a further 420 Bitcoin (BTC) in the current dip.

The investment, worth more than $25m, brings the total number of coins in the national reserve to 1,120 BTC.

The announcement, made in a tweet, that El Salvador had invested in the ongoing BTC dip comes despite widespread criticism within the nation over the use of BTC nationwide.

It seems that the purchase was made at the ideal moment, in the depth of the dip. Bukele later tweeted that “we’re already making a profit of the [BTC] we just bought”.

BTC has seen a reversal in fortunes from its all-time high of $67,000. Price has dropped below the psychologically important floor of $60,000, falling as low as $58,000 overnight. However, the market still seems bullish, validating El Salvador’s decision to invest in the dip.

El Salvador made headlines earlier this year when it became the only nation to adopt BTC as a national form of currency. However, adoption has not been universally popular, with many protests concerned about the inflationary risk and instability.

Money made from previous investments in El Salvador has gone towards national infrastructure projects. Most recently President Bukele invested in a veterinary hospital capable of dealing with 400 appointments a day.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.


Wharton Business School gears up to accept BTC and ETH for tuition fees

The Wharton Business School at the University of Pennsylvania has rolled out an executive education program in blockchain technology. As part of this program, the college will let its students pay tuition fees in Bitcoin (BTC/USD) and Ethereum (ETH/USD), or USD Coin (USDC/USD). With this move, Wharton has become the first Ivy League institution to accept crypto as a means of payment from program participants.

Reportedly, the option to pay in crypto is available, starting today. As aforementioned, this option is only available to students that enroll for the six-week executive course dubbed Economics of Blockchain and Digital Assets. The college offers the course online, and it targets finance professionals across the globe.

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According to Reed Cataldo, one of the course administrators, the course costs less than one ETH, approximately $4,162.63 (£3,026.75) at the time of writing.

The college teamed up with Coinbase to process the crypto payments it receives through Coinbase Commerce. Coinbase charges a 5% fee for merchants that use the Coinbase Commerce service.

However, Wharton will settle this commission instead of passing it on to students. A Coinbase spokesperson disclosed that students can make crypto payments through any on-chain wallet.

More crypto adoption is in order

While the crypto payment option is currently limited to students that take the Economics of Blockchain and Digital Assets course, Cataldo is bullish that Wharton will soon expand the offering to other sectors in the future. He further noted that other schools would follow in Wharton’s footsteps and embrace crypto.

This news comes after the University of Pennsylvania announced that it received its biggest ever gift in the form of a crypto donation earlier this year. At the time, the university disclosed that an anonymous donor gifted the…


Coinbase overtakes Tik Tok in popularity on iPhone

The recent bull run of one Shiba Inu (SHIB) may have contributed to the rise of Coinbase above apps such as Instagram, Youtube, and Tik Tok on the Apple app store.

Coinbase has certainly taken advantage of the popularity it has garnered, including Shiba Inu in the name of the app.

The cryptocurrency exchange crashed on Wednesday and most theories put it down to traffic caused by Shiba Inu (SHIB), which recently overtook Dogecoin (DOGE) in market cap on both CoinGecko and CoinMarketCap.

The website was offline for 15 minutes as Shiba exceeded $5bn in trading volume on Coinbase and now ranks as the ninth biggest cryptocurrency.

While this is an admirable achievement for the exchange and those in the crypto industry, this isn’t the first time Coinbase has reached the pinnacle of the Apple app store.

The Coinbase app took first spot in May this year following the frenzy of Dogecoin and fast forward five months, its self-proclaimed rival has surpassed the original meme coin.

Let alone going back to May, Coinbase was the number one iPhone app in 2017 when Bitcoin experienced a major surge.

Shiba’s recent skyrocketing has enabled them to reach yet another all-time high of $0.00008519.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.


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