Bitcoin 44

2022-02-14 23:44:43 Coinbase 'Free Bitcoin' Super Bowl Ad Causes Site to Briefly Crash

Coinbase made the first big crypto splash during this year's Super Bowl after the company aired a bold commercial that consisted of nothing but a QR code floating around the screen for 60 seconds.

The ad also quickly flashed a Coinbase URL at the end, leading to a website displaying a promotion for $15 in free Bitcoin for new customers who sign up in the next two days.

The Coinbase commercial appeared to be a success—perhaps too much of one. Shortly after it aired, people tweeted that the company's site and app had crashed. Open / Comment

2022-02-12 03:04:59 Russian government and central bank agree to treat Bitcoin as currency

The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement.

Russia’s government and central bank are now working on a draft law that will define crypto as an “analogue of currencies” rather than digital financial assets set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries.

Kommersant noted that Bitcoin (BTC) transactions and possession of cryptocurrency in the Russian Federation are not prohibited; however, they must be done through a “digital currency exchange organizer” (a bank) or a peer-to-peer exchange licensed in the country.

The report also highlights that cryptocurrency transactions of more than 600,000 rubles (roughly $8,000) would have to be declared; otherwise, it could be considered a criminal act. Those who illegally accept cryptocurrencies as payment will incur fines.

This news comes after months of speculation about how the Russian government will handle digital currencies. While it is still unclear what this decision will mean for businesses and citizens in Russia, it seems that the country is slowly warming up to the idea of cryptocurrencies.

Related: Russian central bank registers nation’s first digital asset manager

In January, the Bank of Russia called for a nationwide crypto ban in a report that warned about the speculative nature of the industry. The bank also stated that financial firms should not facilitate crypto transactions as part of that proposal to ban digital assets.

However, the proposal generated opposition from the Russian Ministry of Finance. A few days after the central bank’s call for a ban, Ivan Chebeskov, a ministry official, said that the government should regulate crypto rather than prohibiting it entirely. He warned that a total ban might result in Russia falling behind in technology.

Reports have also emerged that President Vladimir Putin supports efforts to regulate the country’s crypto mining sector. Open / Comment

2022-01-23 09:47:27 The president of El Salvador, Nayib Bukele, tweeted that his country bought 410 BTC for $15 million. Having paid about $36,585 per coin, Bukele wrote, «Some guys are selling really cheap.»

The Salvadoran government has bought a total of 1 801 Bitcoins since the cryptocurrency was made legal tender in the country. Open / Comment

2022-01-08 11:07:40 Paypal reportedly confirms plans to explore the launch of a stablecoin

American fintech giant PayPal Holdings has reportedly confirmed its intent to launch its own stablecoin named PayPal Coin. The development of an in-house stablecoin was first discovered in the source code of Paypal’s iPhone app by developer Steve Moser.

Read details Open / Comment

2021-12-28 17:45:38 Dormant Bitcoin wallet holding 321 BTC activated after eight years

A Bitcoin wallet containing millions of dollars worth of Bitcoin (BTC) has come out of dormancy. For one reason or another, the wallet has not transacted for years despite having what is considered life-changing money.

The wallet had not been used since 2013, barely a few years after the mysterious Bitcoin creator Satoshi Nakamoto disappeared. The wallet currently contains $15 million worth of BTC, and it’s unclear who owns this account or why it was reactivated on Tuesday.

The wallet has 321 BTC. After eight years, the value of this amount has increased from $6,594 to a staggering $15,103,046. By now, the funds in the wallet had appreciated almost 2,300 times.

The Bitcoin community is abuzz with speculation about who owns the wallet and why it has just come out of dormancy. Some believe that it could be a whale — an individual or group with a large stash of Bitcoin — who is about to make a move that will shake up the market.

Old, sleeping wallets from the early days of Bitcoin are being reactivated with large amounts of cryptocurrency inside. Early investors who put up a few hundred dollars and kept their stakes have evolved into BTC whales, with values continuing to rise.

Another Bitcoin wallet awoke in January after having been inactive since June 2010. The wallet had $5 million worth of BTC. In June 2021, another Bitcoin whale account with 900 BTC became active. On Sunday, another dormant address with 235 BTC ($11,114,901) was reactivated after nine years. A dormant address containing 225 BTC was activated on Thursday after almost eight-and-a-half years. Open / Comment

2021-12-14 18:18:56 Metaverse Company InfiniteWorld to Go Public in $700M SPAC Merger

Metaverse infrastructure platform Infinite Assets, also known as InfiniteWorld, will go public in a merger with special purpose acquisition company (SPAC) Aries I Acquisition Corp.

The combined company will have a pro-forma equity value of $700 million and will trade on the Nasdaq under the “JPG” ticker, the companies said in a statement Monday. The deal is scheduled to close in the first half of next year.

InfiniteWorld helps brands create and monetize digital assets and non-fungible tokens (NFTs) and engage with consumers and fans. The company says it has partnered with over 75 creators and brands. InfiniteWorld recently combined with strategic partner DreamView, which was founded by the team that pioneered computer-generated imagery (CGI) technologies at Lucasfilm and Disney.

“With up to $15 trillion of wealth expected to flow into digital assets over the next 10 years, we are witnessing the birth of a new global asset class and economic system,” Aries Chairman Thane Ritchie said in the statement. “InfiniteWorld’s unparalleled technology infrastructure underscores the transition of commerce to the digital world.”

The transaction will provide up to $171 million in funds, including the cash held by both companies and InfiniteWorld-owned cryptocurrencies valued at $93 million. InfiniteWorld stockholders will own approximately 75% of the combined company, and up to a maximum of 81% if certain share price milestones are achieved.

InfiniteWorld expects the deal to accelerate its platform development and expand brand partnerships.

The company will be led by CEO Yonathan Lapchik, a Deloitte Blockchain Lab veteran and co-creator of blockchain ecosystem SUKU. Nathaniel Hunter, the former CEO of DreamView, will become chief operating officer.

Previous investors in InfiniteWorld include investment firm Morgan Creek Digital, trading firm GSR and liquidity provider Wintermute. Open / Comment

2021-12-02 21:02:42 SEC CHAIRMAN GARY GENSLER: BITCOIN COMPETES WITH THE U.S. BANKING SYSTEM

https://bitcoinmagazine.com/business/bitcoin-competes-with-the-us-banking-system-says-sec-chairman Open / Comment

2021-11-27 10:20:16 Bitcoin offers «Black Friday deal» with sub-$55K BTC price — Just like 2020

Bitcoin (BTC) may be down 20% from all-time highs, but this is a golden opportunity to “buy the dip,” analysts argue.

Black Friday is living up to its name in crypto this year as both Bitcoin and many altcoins are trading at their lowest in six weeks.

After an overnight sell-off sparked by a declining United States dollar and macro markets rattled by a new coronavirus variant, BTC/USD is trading near $54,000.

As mainstream media highlight the fall, others are far from concerned, however — current prices arguably offer a golden entry opportunity.

Others poked fun at a knee-jerk article from Bloomberg in which the publication initially declared that Bitcoin had “entered a bear market.”

On short-term targets, popular trader and podcast host Scott Melker warned over going with the herd, expecting even lower levels to buy. Open / Comment

2021-11-09 20:14:13 Austria Crypto Tax Will Treat Digital Tokens Like Stock

https://www.bloomberg.com/news/articles/2021-11-09/austria-crypto-tax-will-treat-digital-tokens-like-stock Open / Comment

2021-11-05 13:00:57 Indian Payments Giant Paytm Could Offer Bitcoin Services if Government Makes Crypto Legal, Says CFO


https://news.bitcoin.com/indian-payments-giant-paytm-bitcoin-services-if-government-makes-crypto-legal/ Open / Comment