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SIL Finance Opens Mining on Binance Smart Chain

On 22nd June, the SIL Ethereum-BSC Bridging Program will commence. Sister in Law Finance (SIL), a single-sided yield aggregator, has announced that it will open its mining operations on Binance Smart Chain (BSC) this week. This happens just after their PowerCurve Initial Decentralized Exchange Offering (IDO), which took place last week on DoraFactory.
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Morgan Stanley Invests in Security Token Startup Securitize

Securitize is going to build a crypto marketplace for trading digital securities. San Francisco-based blockchain firm Securitize has raised $48 million in a Series B funding round. Morgan Stanley led the funding for Securitize drive alongside the largest investor in the Series A funding round, Blockchain Capital. Recall that Blockchain...
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MicroStrategy Buys Additional 13,005 Bitcoin for $489 Million

With the current BTC price, MicroStrategy’s total Bitcoin holding is worth more than $3.4 billion. MicroStrategy Inc (NASDAQ: MSTR) has continued its Bitcoin acquisition spree as it has purchased another $489 million worth of BTC. As of the 21st of June, the Nasdaq-listed business intelligence company holds 105,085 Bitcoins. The...
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Coinbase (COIN) Stock Falls 4% amidst Chinese Crackdown on Crypto Mining

Coinbase listing was expected to bring more validation to the crypto market but recent events in China show the opposite effect. Coinbase Global Inc (NASDAQ: COIN) stock closed Friday trading at $229.29, down 0.59%. Meanwhile, COIN stock was trading at around $220.13, 3.99% down at the time of writing. The deep in Coinbase stock is attributed to the recent intense crackdown of crypto mining areas in China that contributed to a crypto market dip on Monday.
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Amazon (AMZN) Stock Slightly Down as Investors Remain Unperturbed Ahead of Prime Day

There are three key areas that inform the likelihood of a continued upsurge in Amazon (AMZN) shares. The shares of American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence company, Amazon.com Inc (NASDAQ: AMZN) was slightly down in the pre-market as volatility pushed the stock to the red zone. This current trend has failed to take into account the upcoming Amazon Prime Day, a period new offerings are expected to be unveiled.
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Regulators Caution Banks: Attach Huge Capital Requirements to Crypto

The Basel Committee on Banking Supervision has released guidelines detailing huge capital requirements for banks looking to explore the crypto space. Regulators have cautioned banks contemplating diversifying into the volatile world of crypto assets. This year has seen a growth in interest of financial institutions looking to broaden their offer. The Basel Committee on Banking Supervision cautioned the lenders to exercise care in investing in digital currencies.
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Bitcoin Will Lose to Ethereum Nine Times Out of Ten, Says Charles Hoskinson

Cardano founder Charles Hoskinson called Bitcoin outdated, owing to its inefficient community and work culture. The founder of Cardano Charles Hoskinson claims that Bitcoin, one of the most famous crypto assets in the world, will be the reason for its downfall. Owing to its slow rate of exchange, the Proof-of-Work system will be expropriated by the more convenient Proof-of-Stake networks.
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Flare Finance and XinFin Network Announce Partnership

Flare Finance and XinFin Network will have a bidirectional bridge that will enable XDC to be wrapped and bridged to Flare Network. Flare Finance recently announced its partnership with XinFin Network, an enterprise-ready hybrid blockchain for trade and finance. In one of the most significant events for the crypto space in 2021, this partnership will create new opportunities for different communities. With the announcement of this partnership, Flare Finance moves a step closer towards becoming the epicentre of interoperable DeFi.
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Agricultural Bank of China Affirms Ban on Crypto Transactions

ABC, in the now-deleted post, cited recent guidance from the People’s Bank of China for its decision to continue its crackdown on cryptocurrency transactions. The Agricultural Bank of China (ABC) in a statement published on its website restated its ban on all crypto transactions as well as any crypto-related activity. The now-deleted post also stated that the Agricultural Bank of China will seek to find and block any account associated with Bitcoin or any other cryptocurrency.
EconomyPosted by
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China Urges Banks to Restrict Crypto Operations

China has urged the major banks of the nation to restrict all possible crypto operations in terms of BTC trading, clearing, and settlement of transactions which can be an added blow to the existing crypto operations in the nation. China has been tightening the leash regarding the crypto operations in...
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XRP Doesn’t Have to Be Security, SEC Crypto Mom Asserts

The SEC claimed that owing to the centralized nature of XRP, it automatically becomes a security thus, it is under its scope. Hester Peirce, popularly referred to as “Crypto Mom”, believes that the ongoing lawsuit related to XRP against a blockchain firm Ripple Labs will no doubt add to the clarity of the regulations provided by the Securities and Exchange Commission (SEC). In an interview with Bloomberg TV, Ms. Peirce clarified the intentions of the regulator when it filed a lawsuit against a firm that offered securities to the public without registering. She said that when they think of crypto assets as securities, then they should be sold through investment contracts, which doesn’t necessarily imply that the assets are securities. However, that’s not what the lawsuit implied.
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GPU Prices Fall as China Continues Heavy Crypto Mining Crackdown

The recent Sichuan region ban has caused up to a 65% drop in GPU prices, cementing China’s continuous suspension of crypto mining operations. The graphics processing units (GPUs) market is starting to open up as prices drop. Following China’s crackdown on crypto mining operations in multiple parts of the country, more people can now afford current GPU prices.
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Amber Group Valued at $1 Billion in $100 Million Funding Round

Amber CEO said that the company’s trading volumes had doubled since the year began, from $250 billion to $500 billion. Cryptocurrency financial startup Amber Group got the second round of funding, Series B, to raise $100 million. The funding was spearheaded by China Renaissance, and it brought Amber to the valuation of $1 billion. Apart from the company’s resident investors, (Panthers, Blockchain.com, and Coinbase) the following were the other participants in the Series B funding Tru Arrow, Tiger Brokers, Gobi Partners, Arena Holdings, Tiger Global, Sky9 Partners.
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Age of Social Media NFT Markeplace Is Here and Why It Would Disrupt Industry

NFT is moving from just being a tokenization tool for art pieces to the realm of social media platforms. Non Fungible Tokens (NFTs) have become a breakthrough use case to come out of the crypto ecosystem this bull season which has got the attention of Floyd Mayweather, Paris Hilton, Eminem, and many more celebrities from the sports and art industry. The NFT mania is real and many see it as a disruption for the art industry. Many celebrated artists of our time are ditching the traditional way of auctioning their art prices and rare memorabilia in the form of an NFT. The highest-grossing digital art from a digital artist Beeple was sold as an NFT for $69 million.
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Stock to Flow Model Creator PlanB Projects $135K Worst Price for Bitcoin in 2021

While the PlanB projection is based on a worst-case scenario, the analyst says on a best-case basis, Bitcoin may climb to a new ATH of $450,000. Iconic crypto market analyst and the creator of the Stock-to-Flow analytics model PlanB has given the worst-case projection for Bitcoin (BTC) based on the elements of his tool. Taking to Twitter, PlanB noted that the current price plunge in the market was stirred by Elon Musk’s energy FUD (Fear, Uncertainty, and Doubt), as well as the massive clampdown on the mining activities in China.
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Next Bitcoin Halving in Less than 3 Years: How Market is Shaping Up

With the 2024 halving still about 1198 days, the stakes seem higher, perhaps because of the volatility of the trading market in 2021. No sooner will a person start talking about the crypto world before the Bitcoin halving is mentioned. It is a major event with a significant impact on cryptocurrencies generally – and has been from the onset. The idea, factored into the design of the crypto asset by Satoshi Nakamoto, helps manage the inflation of the asset.