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Asian shares slide as traders fret on Fed rates Asian shares slipped on Thursday after a surprise interest rate hike by Bank of Canada revived worries that U.S. rates could stay higher for longer and the Federal Reserve could remain hawkish when it meets next week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.53%, while Japan's Nikkei edged 0.08% higher. Australia's S&P/ASX 200 index eased 0.09%. The Bank of Canada (BoC) surprised markets on Wednesday by hiking its overnight rate to a 22-year ...
Asian shares slide as traders fret on Fed rates
Asian shares slide as traders fret on Fed rates
Source: Reuters
8/06/2023 9:20:20 AM
Asia stocks gain on hopes for China stimulus, Fed pause  Most Asia-Pacific stocks markets strengthened on Wednesday, as expectations for stimulus from China and overnight gains on Wall Street boosted the mood. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.7% in the morning. China's benchmark equity index rose 0.3%, while Hong Kong's Hang Seng added 1.2%. On Tuesday, China reportedly asked the biggest banks to cut deposit rates to boost the economy. Speculation of policy support for the troubled prope...
Asia stocks gain on hopes for China stimulus, Fed pause
Asia stocks gain on hopes for China stimulus, Fed pause
Source: Reuters
7/06/2023 8:50:17 AM
Bitcoin trading volume tanked nearly $700 bn in April Bitcoin trading volume sank by almost $700 billion in April, historically seen as one of the strongest months for Bitcoin and other cryptocurrencies, bringing the biggest average monthly returns, a report showed on Wednesday. Although Bitcoin topped over $30,400 on April 18, reaching the highest level since early June, its monthly gain was only 3 per cent, way down from 21 per cent in March and much less than gains usually seen in the fourth month of the year, according to data by BitcoinC...
Bitcoin trading volume tanked nearly $700 bn in April
Bitcoin trading volume tanked nearly $700 bn in April
Source: IANS
3/05/2023 2:19:20 PM
Dollar retreats, headed for biggest weekly loss since mid-January; bitcoin down The U.S. dollar slid from a 2-1/2-month high versus the Japanese yen on Friday, on track for its largest weekly loss since mid-January against a basket of six major currencies, as traders stepped back to gauge the path for Federal Reserve policy. Analysts said the market has for the most part priced in the prospect of a higher terminal fed funds rate after the recent run of upbeat U.S. economic data. The yen, which is sensitive to U.S.-Japan long-term rate differentials, looked set to h...
Dollar retreats, headed for biggest weekly loss since mid-January; bitcoin down
Dollar retreats, headed for biggest weekly loss since mid-January; bitcoin down
Source: Reuters
4/03/2023 9:01:45 AM
Dollar adrift as optimism over China reopening turns to caution  The dollar pared some gains on Thursday after riding long-end U.S. Treasury yields higher overnight, though investors remained on edge going into the year end as initial optimism over China's reopening fizzled. Following China's removal of its quarantine rule for inbound travellers beginning Jan. 8, countries such as the United States, Japan and India said they would require COVID tests for travellers from China. The speed at which the country has scrapped COVID rules has ...
Dollar adrift as optimism over China reopening turns to caution
Dollar adrift as optimism over China reopening turns to caution
Source: Reuters
29/12/2022 8:57:12 AM
Stocks sputter as growth fears offset China COVID shift World stocks eased on Wednesday and bonds remained supported after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism about China's major shift in its tough zero-COVID policy. Top executives at Goldman Sachs, J.P. Morgan and Bank of America all sounded downbeat in remarks on Tuesday about the economic outlook, hurting risk appetite globally and triggering fresh recession signal from bond markets. "Yields have accentuated the downward trend...
Stocks sputter as growth fears offset China COVID shift
Stocks sputter as growth fears offset China COVID shift
Source: Reuters
7/12/2022 9:00:33 AM
Gold steady as investors seek direction from U.S. inflation data Gold prices were little changed on Thursday as investors held back from placing big bets ahead of U.S. inflation data that may provide cues on further interest rate increases, with the outcome of U.S. midterm elections also on the radar. Spot gold was steady at $1,707.29 per ounce by 1124 GMT, while U.S. gold futures fell 0.2% to $1,710.70. "The uncertainty over the election outcome has offered some support to the safe-haven metal; on the other hand, CPI release is likely to provid...
Gold steady as investors seek direction from U.S. inflation data
Gold steady as investors seek direction from U.S. inflation data
Source: Reuters
10/11/2022 8:48:19 PM
Dollar slumps after CPI data suggests Fed may ease rate hikes The dollar fell sharply on Thursday after U.S. consumer prices rose less than expected last month and data pointed to underlying inflation having peaked, opening the way for the Federal Reserve to slow its aggressive interest rate hikes. The consumer price index rose 0.4% in October, the same increase in the prior month, the Labor Department said. Economists polled by Reuters had forecast the CPI would advance 0.6%. Excluding volatile food and energy, core CPI increased 0.3% month-over-...
Dollar slumps after CPI data suggests Fed may ease rate hikes
Dollar slumps after CPI data suggests Fed may ease rate hikes
Source: Reuters
10/11/2022 8:30:36 PM
Dollar wobbles while investors await midterms; cryptos skittish The dollar wavered on Wednesday, as traders awaited results from U.S. midterm elections and inflation data that could disappoint hopes for a slowdown in rate hikes, while cryptocurrency markets attempted to steady after news of a bailout of exchange FTX. The greenback has been under downward pressure from bets on the Federal Reserve easing back on interest rate rises and on China reopening and driving growth. It touched multi-week lows against the euro, Australian dollar and New Zealand...
Dollar wobbles while investors await midterms; cryptos skittish
Dollar wobbles while investors await midterms; cryptos skittish
Source: Reuters
9/11/2022 9:01:08 AM
Ethereum`s dominance in crypto market up 20% after the `Merge`  The domiannce of Ethereum, the second largest cryptocurrency after Bitcoin, is up 20 per cent in the global crypto market following the 'Merge', a report shpowed on Wednesday. The historic upgrade of Ethereum, known as the 'Merge', last month will create a more energy-efficient network based on the second largest cryptocurrency with a promise to save the environment. According to niche news publisher BanklessTimes.com, the Ethereum merge created a lot of Buzz, with...
Ethereum`s dominance in crypto market up 20% after the `Merge`
Ethereum`s dominance in crypto market up 20% after the `Merge`
Source: IANS
27/10/2022 9:17:33 AM
Indian Blockchain industry hails Ethereum merger for greener crypto  The Indian blockchain industry on Thursday hailed the historic upgrade of Ethereum, known as the 'Merge', that will create a more energy-efficient network based on the second largest cryptocurrency (after Bitcoin) with a promise to save the environment. The Merge was the most complicated upgrade to Ethereum to date-- from a proof-of-work consensus mechanism to a proof-of-stake Blockchain -- to make Ethereum at least "99 per cent more energy efficient". Ethereum c...
Indian Blockchain industry hails Ethereum merger for greener crypto
Indian Blockchain industry hails Ethereum merger for greener crypto
Source: IANS
16/09/2022 9:23:41 AM
King dollar crushes yen as aggressive Fed bets ramp up The dollar hit a 24-year high against the yen on Wednesday after U.S. economic data reinforced the view that the Federal Reserve will continue aggressive policy tightening. The Chinese yuan sank to a two-year trough, closing in on the psychologically important 7 per dollar mark despite steps by authorities to stem its decline. The Philippine peso slid to a record low. The euro languished not far from Tuesday's two-decade low, well below parity, as European Union ministers prepare to...
King dollar crushes yen as aggressive Fed bets ramp up
King dollar crushes yen as aggressive Fed bets ramp up
Source: Accord Fintech
7/09/2022 11:30:25 AM
Bitcoin plunges below $20K, may reach $10K level this year After showing some stabilisation in the last few weeks, world's largest cryptocurrency Bitcoin has plunged once again below $20,000 after Federal Reserve Chair Jerome Powell's keynote address. Bitcoin initially showed little reaction to Powell's remarks, but then nosedived sharply and on Sunday, it was hovering around $19,975 per digital coin which is more that 60 per cent drop in its value since last year when it reached a record-high of $68,000 in November. Bitcoin prices ...
Bitcoin plunges below $20K, may reach $10K level this year
Bitcoin plunges below $20K, may reach $10K level this year
Source: IANS
28/08/2022 11:42:37 AM
Tesla reveals $170 mn loss from $1.5 bn Bitcoin investment  Elon Musk-run Tesla on Monday revealed it incurred $170 million loss from its Bitcoin investments in the first six months of the year. Tesla revealed last week that it has sold 75 per cent of its Bitcoins, adding $936 million in cash to its balance sheet in the second quarter (Q2) this year, as it deals with economic meltdown amid cryptocurrencies falling off the cliff. In a new filing with the US Securities and Exchange Commission (SEC), Tesla said that in the first quarter of 20...
Tesla reveals $170 mn loss from $1.5 bn Bitcoin investment
Tesla reveals $170 mn loss from $1.5 bn Bitcoin investment
Source: IANS
26/07/2022 8:50:53 AM
Tesla sold 75% of its Bitcoin, Musk says Dogecoin still with him Tesla has sold 75 per cent of its Bitcoins, adding $936 million in cash to its balance sheet in the second quarter (Q2) this year, as it deals with economic meltdown amid cryptocurrencies falling off the cliff. Last year, Tesla made a $1.5 billion investment in Bitcoin and announced that it would accept Bitcoin as payment. In the second-quarter (Q2) earnings call with analysts, Tesla Ceo Elon Musk said that the reason the company sold a bunch of its Bitcoin holdings "was that we we...
Tesla sold 75% of its Bitcoin, Musk says Dogecoin still with him
Tesla sold 75% of its Bitcoin, Musk says Dogecoin still with him
Source: IANS
21/07/2022 10:23:06 AM
Bitcoin investor Roger Ver owns us $47 mn: CoinFlex CEO Cryptocurrency exchange CoinFlex's CEO Mark Lamb has revealed that early Bitcoin investor Roger Ver owns them $47 million and this is why the platform has frozen crypto withdrawals for its users. CoinFlex froze crypto withdrawals on June 27, saying that it would restart withdrawals on June 30 with a condition that it needs to sell tokens related to a debt owed by a "certain high net worth individual". It then did not name Ver, also known as Roger "Bitcoin Jesus" ...
Bitcoin investor Roger Ver owns us $47 mn: CoinFlex CEO
Bitcoin investor Roger Ver owns us $47 mn: CoinFlex CEO
Source: IANS
29/06/2022 12:02:04 PM
Crypto exchange FTX denies it is acquiring Robinhood Global crypto exchange FTX has clarified that it is not in active talks to acquire Silicon Valley-based online trading app Robinhood, the media reported on Tuesday. A TechCrunch report said that FTX is "excited" about Robinhood's business prospects but is not talking about acquiring the platform. "We are excited about Robinhood's business prospects and potential ways we could partner with them, and I have always been impressed by the business that Vlad and his tea...
Crypto exchange FTX denies it is acquiring Robinhood
Crypto exchange FTX denies it is acquiring Robinhood
Source: IANS
28/06/2022 10:19:49 AM
Crypto exchange FTX acquiring stake in BlockFi Leading crypto change is reportedly acquiring a stake in the beleaguered crypto lending firm BlockFi, as the crypto industry faces meltdown. According to Wall Street Journal, FTX is currently in discussions with BlockFi regarding the stake in the firm. The acquisition talks came as BlockFi secured a $250 million line of credit from FTX, which the crypto industry largely recognised as a "bailout." "BlockFi does not comment on market rumours. We are still negotiating the...
Crypto exchange FTX acquiring stake in BlockFi
Crypto exchange FTX acquiring stake in BlockFi
Source: IANS
26/06/2022 1:25:55 PM
Electricity used to mine bitcoin decreased sharply as crypto crisis widens The amount of electricity consumed by the largest cryptocurrency networks has decreased by up to 50 per cent as the "crypto winter" continues to eat at the incomes of "miners" and financial contagion spreads further throughout the sector, media reports said. The electricity consumption of the bitcoin network has fallen by a third from its high of June 11, down to an annualised 131 terawatt-hours a year, according to estimates from the crypto analyst Digiconomist, The Gu...
Electricity used to mine bitcoin decreased sharply as crypto crisis widens
Electricity used to mine bitcoin decreased sharply as crypto crisis widens
Source: IANS
25/06/2022 9:58:57 AM
Bitcoin surges past $20K, Ethereum crosses $1,100 per coin After witnessing free fall for weeks, Bitcoin finally managed to rebound past $20,000 per digital coin on Monday, around 16 per cent gain over the weekend. The rally came after Bitcoin, the largest cryptocurrency by market capitalisation, dropped below $18,000 per digital coin on Sunday -- a massive over 70 per cent drop from its record high of $68,000 in November last year -- as mayhem in the crypto market continued. The global market cap of cryptocurrencies sank below $850 billion, wh...
Bitcoin surges past $20K, Ethereum crosses $1,100 per coin
Bitcoin surges past $20K, Ethereum crosses $1,100 per coin
Source: IANS
20/06/2022 10:45:16 AM
Bitcoin falls below $18K, Ethereum down 80% in freezing crypto winter Leading cryptocurrency Bitcoin dropped below $18,000 per digital coin on Sunday -- a massive over 70 per cent drop from its record high of $68,000 in November last year -- as mayhem in the crypto market continued. Overall, the prices of top cryptocurrencies declined as much as 35 per cent last week in the wake of economic recession fears. The global market cap of cryptocurrencies sank below $850 billion, which recently hovered over $1 trillion. The second-largest Ethereum cryptocurre...
Bitcoin falls below $18K, Ethereum down 80% in freezing crypto winter
Bitcoin falls below $18K, Ethereum down 80% in freezing crypto winter
Source: IANS
19/06/2022 10:28:53 AM
Bitcoin falls to fresh 18-month low as crypto meltdown deepens LONDON  - Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world's largest cryptocurrency fell as much as 7.8% to $20,289, its lowest since December 2020. It has lost around 28% since Friday and more than half of its value this year. It has slumped about 70% from its record high of $69,000 in November. The digital currency sector ...
Bitcoin falls to fresh 18-month low as crypto meltdown deepens
Bitcoin falls to fresh 18-month low as crypto meltdown deepens
Source: Reuters
15/06/2022 9:02:11 PM
88% drop in Google searches for 'buying NFTs' as crypto market crashes As mayhem continues across the crypto market, be it cryptocurrencies or Blockchain-based Decentralised finance (DeFi), there has also been a massive 88 per cent drop in Google searches for "buying NFTs", a new report said on Tuesday. The term "buy NFT" has dropped down to a score of 12 on a scale of 100 at the beginning of June, representing an 88 per cent drop from its peak score of 100 that was recorded in January, reports niche news publisher Bankless Times. Simil...
88% drop in Google searches for 'buying NFTs' as crypto market crashes
88% drop in Google searches for 'buying NFTs' as crypto market crashes
Source: IANS
15/06/2022 9:04:57 AM
Bitcoin falls to record-low of $21K over worrying inflation data Top cryptocurrency Bitcoin (BTC) further nosedived to around $21,000 per coin on Tuesday, a level it saw some five years ago. It was hovering around Rs 20,000-Rs 21,000 per BTC as the global crypto market crashed owing to the weak macroeconomic environment and systemic risk from within the crypto space. Bitcoin has fallen for nearly 12 straight weeks, from nearly $49,000 in March to around $21,000. It showed some signs of bottoming out in mid-May but worrying US inflation data did &q...
Bitcoin falls to record-low of $21K over worrying inflation data
Bitcoin falls to record-low of $21K over worrying inflation data
Source: IANS
14/06/2022 10:38:51 AM
Crypto lender Celsius blocks withdrawals due to 'extreme market conditions' Crypto lending platform Celsius announced on Monday that it is pausing all withdrawals citing "extreme market conditions", media reports said. The controversial company -- which has lent out more than $8 billion and managed nearly $12 billion in assets as of May -- has not announced a timeline for when the withdrawals will resume. "Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts,"...
Crypto lender Celsius blocks withdrawals due to 'extreme market conditions'
Crypto lender Celsius blocks withdrawals due to 'extreme market conditions'
Source: IANS
14/06/2022 9:01:46 AM
Bitcoin, Ethereum crash to record low amid crypto winter The crypto winter hammered cryptocurrencies on Monday as the price of a single Bitcoin fell sharply to around $25,600, an 18-month low. The world's largest cryptocurrency further tanked 7 per cent over fears of risk-off sentiment due to a sharp rise in inflation globally, especially the US. Bitcoin (BTC) had reached an all-time high of over $68,000 in November 2021, and has fallen more than 60 per cent since then. According to analysts, Bitcoin may hit a grim $14,000 this year at...
Bitcoin, Ethereum crash to record low amid crypto winter
Bitcoin, Ethereum crash to record low amid crypto winter
Source: IANS
13/06/2022 12:56:46 PM
Crypto lender Celsius Network pauses all withdrawals, transfers Leading crypto lender Celsius Network has announced to pause all withdrawals, swap and transfers between accounts due to "extreme market conditions". The decision led to a nearly 55 per cent crash in the price of its digital token 'CELL' to as low as 19 cents. "We are taking this action today to put Celsius in a better position to honour, over time, its withdrawal obligations," the crypto lender said in a statement late on Sunday. Celsius Network is a Bloc...
Crypto lender Celsius Network pauses all withdrawals, transfers
Crypto lender Celsius Network pauses all withdrawals, transfers
Source: IANS
13/06/2022 11:30:23 AM
Jack Dorsey, Jay-Z partner on Bitcoin educational programme in US Twitter co-founder and Block CEO Jack Dorsey on Friday partnered with artist Shawn Carter, popularly known as Jay-Z, to launch The Bitcoin Academy -- an educational initiative in New York. The initiative is a 12-week free educational course, both online and in person, for residents of the Marcy Houses in Brooklyn, where Jay-Z grew up, starting from June 22 till September 7. The programme, designed in collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire, aims to provid...
Jack Dorsey, Jay-Z partner on Bitcoin educational programme in US
Jack Dorsey, Jay-Z partner on Bitcoin educational programme in US
Source: IANS
10/06/2022 3:55:36 PM
Over 75% of Bitcoin miners' earnings going into soaring electricity costs Bitcoin miners are spending more than 75 per cent of their earnings in soaring electricity costs, resulting in a significant carbon footprint which is damaging to our environment, a new report revealed on Tuesday. Bitcoin (BTC) mining is a very electricity-intensive process. A recent study has shown that a single Bitcoin transaction consumes about 2165 kWh of electricity which a regular household in the US would use in 74 days. "Factor in the roughly $0.14/kWh that an average house...
Over 75% of Bitcoin miners' earnings going into soaring electricity costs
Over 75% of Bitcoin miners' earnings going into soaring electricity costs
Source: IANS
31/05/2022 3:50:59 PM
Governments, companies own 8% of all Bitcoin worth $46 bn in the world The governments and companies own close to 8 per cent of all Bitcoin in the world, roughly 1.6 million Bitcoin (BTC) worth $45.8 billion, and Bulgaria is the major holder of the top cryptocurrency, a new report said on Thursday. Several nations own a combined 271,417 BTC with a value of $7.97 billion. Of these, Bulgaria owns the largest share of coins at 213,519 Bitcoin with a valuation of $6.27 billion, according to data provided by niche news publisher BanklessTimes.com. "The ...
Governments, companies own 8% of all Bitcoin worth $46 bn in the world
Governments, companies own 8% of all Bitcoin worth $46 bn in the world
Source: IANS
26/05/2022 3:46:30 PM
Andreessen Horowitz announces new $4.5 bn fund for Web3.0 startups Leading investment firm Andreessen Horowitz (A16Z) on Wednesday announced a new $4.5 billion fund for crypto and blockchain companies and startups (or Web3.0 startups), as the global crypto market undergoes turmoil with Bitcoin losing nearly 50 per cent of its worth from November last year. It marks Andreessen's fourth fund for the asset class and brings its total raised for crypto and Blockchain investments to $7.6 billion. According to the investment firm, in the last decade, the ...
Andreessen Horowitz announces new $4.5 bn fund for Web3.0 startups
Andreessen Horowitz announces new $4.5 bn fund for Web3.0 startups
Source: IANS
26/05/2022 8:07:32 AM
Bitcoin eyes record losing streak as 'stablecoin' collapse crushes crypto SINGAPORE - Cryptocurrencies nursed large losses on Friday, with bitcoin pinned below $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets. Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. Sentiment is particularly fragile, however, as tokens supposed to be pegged to the dollar have faltered. Bitcoin, the largest cryptocurrency by total...
Bitcoin eyes record losing streak as 'stablecoin' collapse crushes crypto
Bitcoin eyes record losing streak as 'stablecoin' collapse crushes crypto
Source: Reuters
13/05/2022 9:12:33 AM
Crypto meltdown deepens as stablecoin Tether drops below dollar peg HONG KONG / LONDON  - The meltdown in TerraUSD, one of the world's largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank tightening...
Crypto meltdown deepens as stablecoin Tether drops below dollar peg
Crypto meltdown deepens as stablecoin Tether drops below dollar peg
Source: Reuters
12/05/2022 7:33:32 PM
Global crypto market sheds $275 bn, Bitcoin down at 2020 level The free fall in the global cryptocurrency market continued on Thursday as over $275 billion were wiped off from its global market cap within 24 hours and Bitcoin dropped to nearly $27,000 - a level it saw in December 2020. The global cryptocurrency market cap reached the $1.25 trillion mark, down 13 per cent in the last 24 hours. Bitcoin accounts for about a third of the cryptocurrency market. The global crypto mayhem was triggered by the total collapse of Terra Luna cryptocurrency tha...
Global crypto market sheds $275 bn, Bitcoin down at 2020 level
Global crypto market sheds $275 bn, Bitcoin down at 2020 level
Source: IANS
12/05/2022 4:19:15 PM
Bitcoin falls to 16 month low HONG KONG - Bitcoin fell to its lowest in 16 months on Thursday, continuing to fall alongside risk assets such as tech stocks, and also dragged down by the collapse of TerraUSD, the so-called stablecoin which lost its dollar peg this week. [nL2N2X30RZ] The world's largest cryptocurrency dropped around 2% to as low as $28,379.26, its lowest since January 2021.  
Bitcoin falls to 16 month low
Bitcoin falls to 16 month low
Source: Reuters
12/05/2022 9:22:07 AM
Stablecoin Terra's broken dollar peg hits wider crypto markets HONG KONG - TerraUSD, the world's fourth-largest stablecoin, lost a third of its value on Tuesday, spooking cryptocurrency investors and partly contributing to bitcoin's tumble below $30,000 for the first time in 10 months. Stablecoins are digital tokens pegged to the value of traditional assets, such as the U.S. dollar. They are popular as safe-havens in times of turmoil in crypto markets and are a common medium of exchange, often used by traders to move funds around and spec...
Stablecoin Terra's broken dollar peg hits wider crypto markets
Stablecoin Terra's broken dollar peg hits wider crypto markets
Source: Reuters
10/05/2022 4:25:20 PM
Mayhem in cryptocurrency market as Bitcoin drops below $30,000-mark The global cryptocurrency market entered its worst phase ever on Tuesday, with Bitcoin dropping below $30,000 per coin and leaving millions of investors in a panic mode. The overall global cryptocurrency market dropped 13 per cent, and was hovering around $1.37 trillion market cap, which is its lowest this year. Bitcoin was more than 55 per cent down since its all-time high of $69,000 in November last year. Other digital coins also suffered double-digit-percentage drops, led by Carda...
Mayhem in cryptocurrency market as Bitcoin drops below $30,000-mark
Mayhem in cryptocurrency market as Bitcoin drops below $30,000-mark
Source: IANS
10/05/2022 10:30:57 AM
GST Council mulling 28% tax on Bitcoin, other cryptocurrencies In what could further dampen the mood of crypto investors in the country, the goods and services tax (GST) council is mulling a 28 per cent tax on cryptocurrencies, at par with the current GST on casinos, betting and lottery, multiple media reports claimed on Monday. The services such as crypto mining along with sales and purchases are likely to attract the 28 per cent GST if the proposal goes through in the next GST meeting, according to reports. The date of the next GST meeting is yet...
GST Council mulling 28% tax on Bitcoin, other cryptocurrencies
GST Council mulling 28% tax on Bitcoin, other cryptocurrencies
Source: IANS
10/05/2022 9:13:41 AM
Bitcoin value drops by 50% since November peak The value of Bitcoin continued to fall over the weekend as it dropped below $34,000, according to the Coinbase cryptocurrency exchange, BBC reported. The world's largest cryptocurrency by market value has now fallen by 50 per cent since its peak in November last year. The slide in the value of digital assets comes as stock markets around the world also dropped in recent days. On Monday, some Asian markets headed lower again with Japan's benchmark Nikkei index down by around 2...
Bitcoin value drops by 50% since November peak
Bitcoin value drops by 50% since November peak
Source: IANS
9/05/2022 11:29:40 AM
Bitcoin, other cryptocurrencies in free fall after interest rate hikes Bitcoin on Sunday witnessed another round of free fall, slipping below $35,000 per coin, as the global crypto market went through a massive slump of over 4.5 per cent in the past 24 hours to $1.66 trillion. All cryptocurrencies were weighed down as central banks globally tried to control inflation by raising interest rates. Bitcoin is down more than 20 per cent since the beginning of this year. On Sunday, Bitcoin was hovering around $34,400 and ethereum, which is the second largest c...
Bitcoin, other cryptocurrencies in free fall after interest rate hikes
Bitcoin, other cryptocurrencies in free fall after interest rate hikes
Source: IANS
8/05/2022 10:54:16 AM
Investors likely to lose up to $545 mn worth Bitcoin in 2022 Bitcoin investors are likely to lose up to $545 million this year, owing to various reasons like forgetting passwords to their wallets or making a mistake in recording their "seed phrases", according to a new report. A seed phrase is a series of words generated by your cryptocurrency wallet that give you access to the crypto associated with that wallet. Analysts have estimated that at least 20 per cent of all Bitcoin is lost and that the majority of those funds are irretrievab...
Investors likely to lose up to $545 mn worth Bitcoin in 2022
Investors likely to lose up to $545 mn worth Bitcoin in 2022
Source: IANS
27/04/2022 4:47:11 PM
Cryptoverse: Ether prepares for epic 'merge' in quest to eclipse bitcoin Ether has promised to do better. It has promised to go to the next level, edging out crypto rivals and even outshining the godfather, bitcoin. But the clock's ticking. The No.2 cryptocurrency was supposed to be weeks away from the "merge", a transformative June upgrade of its blockchain Ethereum to make it faster, cheaper and less power hungry, holding out the prospect of a meaner and cleaner crypto future. The anticipation had supported ether this year, even as inflation ...
Cryptoverse: Ether prepares for epic 'merge' in quest to eclipse bitcoin
Cryptoverse: Ether prepares for epic 'merge' in quest to eclipse bitcoin
Source: Reuters
26/04/2022 11:09:47 AM
Germany shuts Russian marketplace Hydra, seizes $25.2 mn in Bitcoin Germany has shut down the Russian illegal darknet marketplace called 'Hydra Market', confiscating 543 Bitcoins with a total value of around $25.2 million. The authorities shut down the server infrastructure for Hydra which is a huge marketplace on Dark Web for drugs, stolen credit card information and other illegal goods. "Among other things, there is a suspicion of the commercial operation of criminal trading platforms on the Internet, the commercial procurement or grantin...
Germany shuts Russian marketplace Hydra, seizes $25.2 mn in Bitcoin
Germany shuts Russian marketplace Hydra, seizes $25.2 mn in Bitcoin
Source: IANS
6/04/2022 3:02:07 PM
Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion As a bleak first quarter draws to a close, crypto seems to have the wind in its sails. It has pushed through the $2 trillion barrier and is proving surprisingly resilient amid global chaos. At Monday's high of $47,765, market leader bitcoin broke above the narrow $34,000-$44,000 range it's traded in for most of 2022. Through a steady grind higher from a low just above $40,000 on March 21, it has gained 18%. Its comparative steadiness, versus previous performance at least, contra...
Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion
Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion
Source: Reuters
29/03/2022 10:59:50 AM
Yen back under pressure as BOJ steps in, bitcoin takes a leap HONG KONG - The Japanese yen resumed its slide on Monday morning, after the Bank of Japan stepped into the market to defend its implicit yield cap, and bitcoin rose to nearly its highest this year ahead of a week filled with plenty of data to guide markets. The yen fell to as low as 122.78 per dollar, its weakest since December 2015, giving up its mini recovery from Friday when the Bank of Japan did not step in to defend its target. However, On Monday morning, the BOJ offered to bu...
Yen back under pressure as BOJ steps in, bitcoin takes a leap
Yen back under pressure as BOJ steps in, bitcoin takes a leap
Source: Reuters
28/03/2022 9:11:08 AM
Bitcoin jumps ahead of Biden's order on digital assets Bitcoin surged on Wednesday ahead of an executive order that U.S. President Joe Biden will sign on digital assets which is likely to raise the legitimacy of virtual currencies in the U.S. financial system. Digital currencies surged overnight after what appeared to be a prematurely published U.S. Treasury statement that allayed market worries about a sudden tightening of U.S. rules around digital assets. In a statement that briefly appeared on the Treasury website before it was taken dow...
Bitcoin jumps ahead of Biden's order on digital assets
Bitcoin jumps ahead of Biden's order on digital assets
Source: Reuters
9/03/2022 8:00:50 PM
Bitcoin hovers around $39K amid talks of Russia-Ukraine dialogue The prices of Bitcoin and other cryptocurrencies somewhat stabilised on Saturday amid possible Russia-Ukraine talks. Bitcoin, which nosedived below $34,000 when the war began on Thursday, was flat on Saturday at nearly $39,000 per coin, compared with a 5 per cent gain in XRP digital asset and a 10 per cent rise in Terra's LUNA token, reports CoinDesk. The second major cryptocurrency Ethereum was at $2,710 per coin, up 2.66 per cent. "Some investors expect the rebound in cryp...
Bitcoin hovers around $39K amid talks of Russia-Ukraine dialogue
Bitcoin hovers around $39K amid talks of Russia-Ukraine dialogue
Source: IANS
26/02/2022 4:51:40 PM
Bitcoin donations soar for Ukrainian army amid war with Russia As Russia invaded Ukraine, people started donating the Ukrainian army in cryptocurrencies to support them and in the past 24 hours, more than $400,000 worth Bitcoins have been donated to just one group. Come Back Alive, a Ukrainian NGO that raises crypto funds for the Ukrainian army, received more than $400,000 worth of digital tokens in the past day, according to data from blockchain and crypto analytics firm Elliptic. The average amount donated is around $1,000 to $2,000, and the grou...
Bitcoin donations soar for Ukrainian army amid war with Russia
Bitcoin donations soar for Ukrainian army amid war with Russia
Source: IANS
25/02/2022 11:25:44 AM