Article: Robinhood Faces 458% Spike in Crypto Customers–Massive Increase from 1.7 Million to 9.5 Million in Q1 of 2021

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Robinhood Faces 458% Spike in Crypto Customers–Massive Increase from 1.7 Million to 9.5 Million in Q1 of 2021

Joen Coronel, 09 April 2021

On Thursday, Apr. 8, Robinhood announced a staggering surge in the number of its customers who engage in cryptocurrency trading. The financial services company which was founded on Apr. 18, 2013, has recorded that 9.5 million people have used the platform during the first quarter of this year.

The said number shoots up to a stupendous 458% increase in users, which only accounts for 1.7 million in 2020’s Q4.

How Robinhood Sudden Became Popular in Crypto Trading Continue reading “Article: Robinhood Faces 458% Spike in Crypto Customers–Massive Increase from 1.7 Million to 9.5 Million in Q1 of 2021”

Article: Did The NFT Boom Just Burst?

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Did The NFT Boom Just Burst?

TYLER DURDEN, 03 April 2021

Non-fungible tokens, or NFTs, are changing the way we think about art (and other collectibles), and in 2021, investors have started to take notice. As Decrypt writes, in the last year, NFTs have shot to the forefront of the crypto space. The cryptographically-unique tokens make it possible to create real-world scarcity for digital objects, and artists have seized on the opportunity presented by the technology.

“It’s not meaningful to characterize a concept as a financial bubble,” said Chris Wilmer, a University of Pittsburgh academic who co-edits a blockchain research journal. Continue reading “Article: Did The NFT Boom Just Burst?”

Article: Financial Crime Reporting Rules Extended To Cryptoasset Firms

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Financial Crime Reporting Rules Extended To Cryptoasset Firms

Kevin Pratt, 31 March 2021

The UK’s financial regulator, the Financial Conduct Authority (FCA), has announced a shake-up of its anti-money laundering activities which will see firms dealing in cryptoassets obliged to file annual reports on their trading activities.

The FCA will use the information to determine the potential risk of financial crime, enabling it to target its supervisory resources where it identifies the greatest risk.

Cryptoasset ‘exchange tokens’ such as Bitcoin, Litecoin, Ether and other virtual currencies are only regulated in the UK for money laundering purposes. This means that you have little or no protection if something goes wrong and, as the FCA points out, you should be prepared to lose all the money you invest. Continue reading “Article: Financial Crime Reporting Rules Extended To Cryptoasset Firms”

Article: Nasdaq Futures Tumble As Value Surge Makes Europe A Sea Of Green

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Nasdaq Futures Tumble As Value Surge Makes Europe A Sea Of Green

TYLER DURDEN, 08 March 2021

US equity futures and global markets jumped higher at the reopen of Asian trading late on Sunday following news of the Senate’s passage of the Biden $1.9TN stimulus plan and the spike higher in oil following the Houthi drone attack on Aramco facilities in the Gulf, but have since dipped amid renewed reflationary fears which pushed Treasury yields as high as 1.61% overnight hitting tech stocks with lofty valuations even as value stocks and European markets were broadly in the red. After rising above $71, Brent has since faded gains and was last trading near where it closed Friday at $69. Bitcoin soared as HK-based firm the latest institution to convert cash into Ethereum and Bitcoin.

At 7:10 a.m. ET, Dow e-minis were down 16 points, or 0.07%, S&P 500 e-minis were down 16.5 points, or 0.44%, and Nasdaq 100 e-minis were down 154.25 points, or 1.20%. Continue reading “Article: Nasdaq Futures Tumble As Value Surge Makes Europe A Sea Of Green”

Article: Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges

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Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges

Jonathan Stempel, 23 February 2021

NEW YORK (Reuters) – The owner of the Tether cryptocurrency and Bitfinex trading platform will pay an $18.5 million fine to settle charges it commingled client and corporate funds to cover up $850 million that went missing, New York Attorney General Letitia James said on Tuesday.

James said the civil settlement with Hong Kong-based iFinex Inc and related entities will also require them to halt trading activity with New Yorkers.

Bitfinex was accused of having sent the $850 million to Crypto Capital Corp, a payment processor believed to be in Panama, without telling clients, and after the funds went missing, draining at least $700 million from Tether’s reserves. Continue reading “Article: Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges”

Article: ‘Striking’ Bitcoin Market Manipulation Revealed

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‘Striking’ Bitcoin Market Manipulation Revealed

Billy Bambrough,  25 September 2019

Bitcoin and cryptocurrency markets are in turmoil tonight after the disappointing launch of the hotly-anticipated Bakkt crypto platform.

The bitcoin price shed 15% of its value this week, with some of its biggest rivals including ethereum, Ripple’s XRP, litecoin, and bitcoin cash, recording losses as high as 22% as investors balked at Bakkt’s low bitcoin trading volume.

Now, new research has warned of a “striking systematic trend” in bitcoin price movements, with bitcoin falling far further than average ahead of CME’s bitcoin futures contracts being settled each month. Continue reading “Article: ‘Striking’ Bitcoin Market Manipulation Revealed”