On Tuesday, Five Star Bank, which is a subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), announced a new partnership with NYDIG, through which it will “become one of the first financial institutions in the U.S. to enable its banking clients to securely buy, sell and hold bitcoin.” Five Star Bank is “a $5 billion community bank offering a wide range of consumer and commercial […]

US President Joseph Biden will decide the fate of Bitcoin and other cryptocurrencies in the US with a White House Executive Order (EO) scheduled for release in February. Biden’s executive order will probably glean from a series of reports and guidelines issued by the US treasury, the Congress finance oversight committee, and the US Federal Reserve. Already, a recently released […]

Pay no attention to the latest crypto market crash. ARK Invest, the asset management firm helmed by Cathie Wood, says Bitcoin has a chance of crossing the $1 million bracket. But you’re going to have to wait for BTC to reach that marquee figure. The New York-based investment house believes the bellwether cryptocurrency will be able to achieve this milestone […]

Key Takeaways Bitcoin has not yet reached a cyclic bottom according to Ki Young Ju, CEO of CryptoQuant. He draws his judgment from Bitcoin’s MVRV ratio, which is currently trending lower.  While the metric is bearish, bullish sentiments continue to linger in the market.   Bitcoin’s price has been in free fall in the last few days, plunging below $33,342. According […]

Kazakhstan officially shuts down energy for Bitcoin miners till February. The oil-rich nation is struggling to keep up with energy demands as BTC hash rate drops. Kazakhstan may stall bitcoins’ slow recovery with its shut down on mining activities. Following a week-long strain on its national energy supply, Kazakhstan will pull the plug on all crypto mining activities until the […]

In a recent interview, Michael J. Saylor, Co-Founder, Chairman, and CEO of Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR), gave two reasons for the current downturn in the crypto market. On 11 August 2020, MicroStrategy announced via a press release that it had “purchased 21,454 bitcoins at an aggregate purchase price of $250 million” to use as a “primary treasury reserve […]

Bitcoin mining difficulty surged by 9.32 percent in the early hours of January 21, 2022, to hit a new all-time high of 26.64 trillion. Observers have attributed the increase to the resumption of mining operations in North America and other regions by Chinese miners who left China during last year’s crackdown by the government. Bitcoin Mining Difficulty Hits Fresh ATH […]

The SEC rejected the spot Bitcoin application from Skybridge giving a plethora of reasons for their decision. The regulator had previously delayed giving a decision for the application that was first filed in May 2021. Despite the rejection, analysts remain bullish that a pure-play Bitcoin ETF is around the corner. The SEC remains a stumbling block for the grant of […]

Bitcoin billionaires are migrating en masse to Puerto Rico for the array of tax benefits that the region offers.  Although the numbers are on the rise, the economic benefits for Puerto Rico remain divided. Locals are dealing with the rising cost of living as a result of the influx of rich foreigners.  A recent CNBC TV interview revealed that crypto […]