Goldman Sachs reportedly started trading on JPMorgan’s repo blockchain

Goldman Sachs reportedly traded digitized treasury bonds for JPM Coin on JPMorgan Chase's Onyx blockchain platform. After six months of eyeing JPMorgan Chase’s custom blockchain service for repo markets, Goldman Sachs has started trading on the platform. Mathew McDermott, global head of digital assets for Goldman Sachs’ global markets division, confirmed the first transaction dated June 17 in an interview, Bloomberg reported.

New Investments, Miner Migration, US Treasury Nominee on Crypto + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. _____ Investments news Investment firm VanEck filed a new draft prospectus for a bitcoin (BTC) futures mutual fund with the US Securities and Exchange Commission (SEC).

Biden nominee for Treasury Dept will prioritize crypto regulation

"If I am confirmed, I will prioritize implementing that piece of legislation, including new regulations around cryptocurrency," said Brian Nelson. Brian Nelson, US President Joe Biden’s nominee for under secretary for the Department of the Treasury’s division on terrorism and financial crimes, said he would prioritize implementing new regulations around cryptocurrency.In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs, Nelson said he would be focusing on anti-money laundering regulations if he were to be confirmed for the position in the Treasury Department’s terrorism and financial intelligence arm, adding cryptocurrency would be particular priority.

Polywhale Finance founders accused of rug pull amid abrupt shut down

The founders of the DeFi yield farm have allegedly redeemed over $1 million worth of tokens as the Treasury wallet was drained Monday.

Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines

Stablecoin inflows to exchanges tapered off as investors turned bearish on Bitcoin, but a surge in USDC minting could be a signal of upcoming regulation. The growth of stablecoin's market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times.Monitoring the Tether (USDT) treasury for large issuances was a common tactic used by analysts and traders to position themselves for a possible pump in the price of Bitcoin (BTC) and altcoins and previously this has been a good source of alpha for those willing to take a risk.

MicroStrategy expands company's Bitcoin holdings with $489M purchase

MicroStrategy has announced an additional Bitcoin purchase to the tune of $489 million. MicroStrategy has bought even more Bitcoin (BTC) despite the current price struggles for the largest crypto by market capitalization.According to an announcement on Monday, the business intelligence firm purchase 13,005 BTC at an average price of $37,617 for a combined total of about $489 million.Monday's report takes MicroStrategy's Bitcoin balance sheet north of the 100,000 mark with the firm now holding 105,085 BTC.At the current BTC spot price, MicroStrategy's Bitcoin holdings are worth $2.74 billion which amounts to an average of a little over $26,000 per Bitcoin.Earlier in June, the firm had announced a $400 million debt raise to expand its Bitcoin treasury holdings.

MicroStrategy May Sell $1 Billion in Stock to Buy More Bitcoin

The cloud software firm already has most of its treasury holdings in the alternative asset.

US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal

US Senator Pat Toomey has urged Treasury Secretary Janet Yellen to “make significant revisions” to the proposed crypto regulation by the Financial Crimes Enforcement Network (FinCEN) and the planned adoption of the guidance issued by the Financial Action Task Force (FATF).

Square Launches $5M Bitcoin Fund to Promote Crypto Inclusion

The new Bitcoin Endowment is intended to promote crypto education, and is funded by interest from Square's corporate treasury.

Rogue states dodge economic sanctions, but is crypto in the wrong?

When the United States first began going after crypto companies for violating its economic sanctions rules, it didnt exactly start with a bang.In December, the Treasury Departments Office of Foreign Assets Control (OFAC) announced a settlement with crypto wallet provider BitGo after the Palo Alto firm failed to prevent persons apparently located in the Crimea region, Iran, Sudan, Cuba and Syria from using its non-custodial secure digital wallet management service.

Former SEC head and treasury undersecretary defend US crypto regulations

Former top policymakers Jay Clayton and Brent McIntosh has defended the crypto regulatory regimes established during their respective government tenures. The regulatory pressure is mounting in the US, with more politicians questioning whether the current framework is adequate.An opinion piece penned for Wall Street Journal by former SEC Chairman, Jay Clayton, and former Undersecretary of the Treasury, Brent McIntosh, have defended the United States’ existing regulatory apparatus regarding crypto and warned that excessive rulemaking could stifle innovation.The discussions come as cryptocurrencies have been thrown into the regulatory spotlight once again in the wake of two crippling ransomware attacks in the US Over the weekend, two senators deliberated on the prospect of banning cryptocurrencies as a solution to the ransomware attacks.Clayton served as SEC head from May 2017 until December 2020 and stated that the agency did not take up Bitcoin regulation because the asset was declared not to be a security before he took up his position as its head.

Price analysis 6/7: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, ICP, BCH

Bitcoin and altcoins are likely to remain under pressure for a few days but lower levels could attract buying. United States Treasury Secretary Janet Yellen defended President Joe Biden’s latest massive spending package while speaking to Bloomberg.

Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC

Microstrategy will soon hold more than 100,000 bitcoins in its treasury.

Biden’s Crypto Tax Evasion Crackdown Could Also Hit Non-US Traders

Joe Biden. Source: A screenshot, Instagram/joebiden The American President Joe Biden appears ready to go to war with tax evaders, particularly those seeking to make use of crypto – and has put forward a plan that could hit crypto traders outside the United States, as well as domestic users. In a set of Treasury proposals released last week, the department called “tax evasion using

US Senator Urges Treasury Secretary Yellen to Take Action on Cryptocurrency Scams to Protect Investors

US Senator Rick Scott has urged Treasury Secretary Janet Yellen to take action on cryptocurrency scams, which he said have risen 1,000% in the past year and cost consumers at least $80 million.

New Crypto Trading Restrictions Good for Hong Kong, Government Official Says

Hong Kong's Treasury Secretary - Christopher Hui - found benefits for the city from the proposed restrictions by the FSTB.

Restricting crypto trading to millionaires good for Hong Kong, says official

Hong Kong’s Treasury Secretary says the government is right to pursue restrictive crypto regulations in the city. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury has defended the recent proposal by the city’s Financial Services and the Treasury Bureau to ban retail crypto trading.In a speech delivered at StartmeupHK virtual fintech summit on Thursday, Hui said that the proposal was in line with the government’s plan to properly police the emerging crypto market.As previously reported by Cointelegraph, the FSTB issued a proposal after months of consultation, calling for a ban on retail crypto trading and the establishment of a strict regulatory regime for cryptocurrency exchanges.As part of the proposal set to be presented before the city’s legislature, the FSTB argued for a minimum investment threshold for crypto trading at about $1 million.

Biden Administration Looking to Increase Cryptocurrency Oversight to Protect Investors, Prevent Illicit Transactions

The Biden administration is reportedly looking to increase oversight of the crypto market with the aim to protect investors and prevent illicit transactions.

Bank of England Governor Bailey Says Cryptocurrencies Are ‘Dangerous’

Known for his reluctant stance on decentralized money, the Governor of Bank of England (BOA), Andrew Bailey, has recently taken his anti-crypto rhetoric up a notch.

Former US Treasury Secretary Larry Summers Says Cryptocurrency Is Here to Stay as Digital Gold

Former US treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency is here to stay as a kind of digital gold.

Rich Dad Poor Dad’s Robert Kiyosaki Urges Crypto Investors to Buy the Dip, Says ‘Stop Whining and Take Action’

Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” says now that bitcoin is “crashing,” it is a buying opportunity, especially for those who said that they could not afford it before.

US Treasury Requests Report to IRS for Crypto Transfers Over $10,000

The US Treasury Department today proposed to the US Internal Revenue Service that investors need to report on crypto transactions of more than $10,000.

US Investors Will Have to Report Cryptocurrency Transactions Over $10K to the IRS

The United States Treasury has called for stricter cryptocurrency compliance measures with the IRS, claiming that there is a significant tax evasion risk in the space.

US Treasury Details Major Push to Regulate Bitcoin and Cryptocurrency

The US Treasury Department is detailing a set of new tax compliance measures designed to bring in billions in new revenue – and crypto investors are a key target.

US Treasury Calls For IRS Reporting Of $10K+ Crypto Transfers

Continued political buzz is abundant lately around crypto, and today is no exception.

US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS

The US Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures.

USD 10K+ Crypto Transfers & IRS, Central Banks on Crypto Volatility + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. ____ Tax news The US Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of at least USD 10,000 of crypto to be reported to the Internal Revenue Service,

Buy the Dip: Microstrategy Grabs $15 Million More Bitcoin — Now Holds 91,850 BTC in Treasury

Nasdaq-listed Microstrategy has bought the dip and purchased $15 million more bitcoins, taking advantage of the falling price for the cryptocurrency after Tesla CEO Elon Musk revealed that his company has suspended accepting bitcoin for payment.

Diem parters with Silvergate bank to launch stablecoin in the US

Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate. Facebook-backed digital currency project, the Diem Association, has partnered with cryptocurrency-friendly bank Silvergate to launch a stablecoin pegged to the United States dollar.Diem announced Wednesday a new model of its upcoming stablecoin, relocating its main operations from Switzerland to the United States and withdrawing its application for a payment system license from the Swiss Financial Markets Authority.The association, which comprises of 26 financial firms including Nasdaq-listed cryptocurrency exchange Coinbase, is now planning to move forward with its USD stablecoin plans through Silvergate bank, which is set to be the issuer of the Diem USD and will manage the Diem USD reserve.Diem Networks US, Diem’s wholly-owned subsidiary, will run the Diem Payment Network, a permissioned blockchain-based payment system facilitating Diem stablecoin transactions.While Silvergate is a California state-chartered bank and a member of the Federal Reserve, Diem Networks US is seeking to register as a money services business with the US Department of the Treasury's Financial Crimes Enforcement Network, the announcement notes.“We believe in the future of US dollar backed stablecoins and their potential to transform existing payment systems,” Silvergate CEO Alan Lane said.

Data analytics giant Palantir now accepts Bitcoin payments

The firm added Bitcoin was "definitely on the table" as consideration for a treasury reserve asset. The $30 billion Colorado-based data analytics company founded by billionaire Peter Thiel now accepts Bitcoin from clients as a form of payment. According to a CNBC report today, Palantir said during its earnings call for the first quarter of 2021 that it had begun accepting Bitcoin (BTC) payments.

Yellen Selects Fed Associate Director Michael Hsu to Succeed Brian Brooks at OCC

US Treasury Secretary Janet Yellen announced her intention to nominate Fed Associate Director Michael Hsu to take charge as the new acting Comptroller of Currency.

Turkish government to track crypto transactions over $1,200

Turkey’s Minister of Treasury and Finance sheds light on regulatory actions following an alleged $150-million crypto exchange scam.

E-Commerce Giant Mercadolibre Buys Bitcoins Worth $7.8 Million for Treasury

Mercadolibre Inc., Latin America’s leading e-commerce company with almost 70 million users on its marketplace, has bought bitcoins worth almost $8 million for its treasury.

Largest Latin American eCommerce platform adds $7.8M Bitcoin to its treasury

The purchase makes the eCommerce platform the 36th publicly traded company to add Bitcoin to its balance sheet. Mercado Libre, the largest e-commerce platform in Latin America, has announced to the US Securities and Exchange Commission (SEC) that it acquired $7.8 million in Bitcoin in the first quarter of 2021.

Treasury Secretary Yellen Says US Does Not Have Framework ‘up to the Task’ of Regulating Cryptocurrencies

US Treasury Secretary Janet Yellen says that the US does not have an “adequate framework” to deal with all the different issues posed by cryptocurrencies, such as money laundering and illicit financing.

Mogo Adds 146 ETH to Firm’s Balance Sheet, Plans to Turn 5% of Its Portfolio Into Crypto Assets

On Tuesday, the Nasdaq-listed Canadian company Mogo revealed the firm has purchased 146 ether at an average price of $2,780.

Why bitcoin and crypto regulation is not a priority for US Treasury Secy

As the crypto-community on Twitter was sinking into the unverified headline that stated the US Treasury Department was set to crack down on a number of unknown banks for their activities related to th The post Why bitcoin and crypto regulation is not a priority for US Treasury Secy appeared first on AMBCrypto.

Treasury Management Firm Says CFOs Avoid Risk, Bitcoin Won’t Become Corporate Vehicle

If you need reassurance on just how early you’re to Bitcoin, head to Fortune.com.

Fed to Keep Rates Near Zero, Treasury Purchases to Continue, Powell Expects ‘Transitory’ Inflation

In a policy meeting on Wednesday, the US Federal Reserve told the public that monetary easing will continue and the benchmark interest rate will be kept near zero.

Genesis spot volume up 287% in Q1, corporate treasury service takes off

Genesis Global Trading released its Q1 report on April 28, with corporates leading trading volumes, accounting for $8 billion in spot trading alone.

Japanese Game Publisher Nexon Makes a $100 Million Bitcoin Bet

Video game maker Nexon has become the latest publicly listed technology firm to add Bitcoin to its treasury.

Possible Bitcoin treasury adoption as more companies cite inflation concerns

Bitcoin is likely a topic of conversation among the treasury department of many US companies amid rising inflation. No fewer than 47 companies have cited the term “inflation” in their earnings calls for Q1 2021. According to a report by financial market data provider FactSet on Monday, the figure represents the highest number of companies to do so in the last decade. Earlier in April, the United States Bureau of Labor Statistics released its “Producer Price Index” report showing a 4.2% year-on-year increase in PPI, the highest since September 2011. While Federal Reserve chairman Jerome Powell continues to argue that current inflation and consumer price index numbers are only temporary, there is a counter-argument that businesses will move to transfer the burden of greater production costs to their consumers. Meanwhile, companies may also be seeking ways to protect their cash reserves from US dollar debasement following the nearly $6 trillion in stimulus money poured into the US economy over the course of the ongoing coronavirus pandemic. Back in August 2020, business intelligence outfit MicroStrategy made headlines when it announced its first Bitcoin (BTC) purchase.

Yearn Finance Expects Treasury Yield-Farming to Boost Their Revenue

Yearn Finance (YFI)'s recently launched yield-farming with Treasury assets is making "significant amounts" in revenue and is expected to bring forth "an increasing amount" going forward, the yield-aggregator protocol said in its Q1 report.

Did Tesla Really Sold Its Bitcoin? Earnings Report Sheers Some Light

Tesla adding Bitcoin to its corporate treasury back in February was considered an inflection point for the cryptocurrency.

The convergence between Tesla, SpaceX, renewable energy and Bitcoin mining

To establish an interplanetary economy, humanity needs a better financial system that decentralized cryptocurrency can offer. Tesla — a top 10 company in the Fortune 100 that is run by one of the world’s wealthiest people, Elon Musk — transferred $1.5 billion of its treasury cash into Bitcoin (BTC) in early February.

Understanding the Rise in Long-Term US Treasury Yields

Tobias Adrian is the Financial Counsellor and Director of the International Monetary Fund (IMF)’s Monetary and Capital Markets Department, Fabio M.

Bitcoin greenwashing? Lawmakers want clearer definitions of green energy

UK legislators want clearer definitions applied to green energy usage to combat the rise of financial “greenwashing.” Legislators in the United Kingdom have asked for greater regulatory powers to combat the rise of financial “greenwashing” — a deceptive practice where a company overstates or fabricates the extent of its green energy usage. A report by the House of Commons cross-party Treasury Committee urges the UK government to sharpen its definition of environmentally conscious investments and to consult on the prospect of attaching “green labels” to financial products.

Expert explains why Britain needs a digital pound

One of the contributors to the Bank of England's preliminary CBDC research tells us why a digital pound is neccessary in the United Kingdom. The United Kingdom Chancellor of the Exchequer announced the launch of a CBDC task force this week, bringing together the Bank of England and Her Majesty’s Treasury to coordinate the exploration of a potential central bank digital currency.

Biden Administration Developing Cryptocurrency Regulation — Treasury to Provide Direction to SEC

The Biden administration is reportedly developing a regulatory framework for the cryptocurrency markets.

WeWork to accept crypto payments and hold them on its balance sheet

The coworking firm is the latest to see crypto as a suitable asset for its corporate treasury.

UK Announces the Launch of its CBDC Task Force

The UK has launched a CBDC task force where the Bank of England and the HM Treasury will collaborate to study CBDC.

Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce

Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce.

Blockchain Association executive debunks rumored crypto crackdown by Treasury

A United States blockchain lobbying group executive says there is no danger of a crypto crackdown in the country. Kristin Smith, executive director of the Blockchain Association has dismissed fears that the United States Department of the Treasury was close to cracking down on Bitcoin (BTC) and cryptocurrencies. Indeed, rumors of the Treasury bringing money laundering charges against some financial institutions using cryptocurrencies began circulating on social media over the weekend. The report emerged during a period of massive selloffs in the crypto space, with the market capitalization dropping over $240 million as Bitcoin slid to $52,000. In an interview with CNBC, Smith debunked the reports, stating that it was the Department of Justice’s remit to charge companies with money laundering. Janet Yellen, the secretary of the US Treasury, is a noted crypto critic, who in February characterized the apparent misuse of cryptocurrencies for illegal activities as a growing concern. Meanwhile, several studies show the criminal usage of cryptocurrencies accounts for a minute proportion of global crypto commerce.

UK government establishes central bank digital currency task force

The United Kingdom is the latest country to begin exploring the possibility of creating a central bank digital currency. Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency. In a document published by HM Treasury, the exchequer announced the creation of a CBDC taskforce in collaboration with the UK’s central bank. Jon Cunliffe, deputy governor of the Bank of England and Katharine Braddick, director general of financial services at HM Treasury will co-chair the task force. According to the terms of reference document, the task force will synergize the efforts of all relevant statutory bodies in the UK regarding CBDC development. As part of its duties, the task force will explore preliminary issues associated with the design, implementation, and operation of a CBDC in the UK The task force will also interface with stakeholders across academia, fintech and other relevant industries to identify the technological hurdles involved in creating a sovereign digital currency. The joint HM Treasury and BoE task force will also monitor CBDC-related developments on the international scene especially as other nations are actively exploring their own central bank digital currency projects. According to a BoE press release issued on Monday, the central bank will also run its own internal CBDC unit headed by Jon Cunliffe. The establishment of the task force is yet another indication of the UK government’s focus on digital currencies and fintech in the aftermath of Brexit.

Bank of England and UK Treasury Launch CBDC Taskforce

The Bank of England and HM Treasury have launched a taskforce to coordinate the exploration of a central bank digital currency in the UK.

US Lawmaker Warns Treasury Secretary and Fed Chair Not to Ignore Bitcoin or America Will Fall Behind

Congressman Kevin McCarthy has urged Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell not to ignore bitcoin like they have been trying to do.

OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

Rumors concerning the US Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums.

Bitcoin Price Dipped Below $52K Amid US Treasury Rumors (Market Watch)

The crypto market experienced a massive price slump with bitcoin dumping as low as $51,500, ETH to $1,940, and BNB to $440.

Bitcoin and Crypto Markets Plummet As US Treasury Rumor Spreads

The crypto markets are reeling amid rumors that the US Treasury Department may soon accuse a number of financial institutions of using digital assets to launder money.

The crypto FBAR: Implications beyond

What crypto owners should know if crypto accounts fall within the new Foreign Bank and Financial Accounts regulations. The United States Department of Treasury is again sharpening its sword upon crypto.

Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon

Back in mid-February, Bitcoin.com News reported on Miami’s Mayor Francis Suarez supporting the idea of the city holding bitcoin in the treasury and allowing tax payments in bitcoin as well.

Pakistan Firm Sold Fake KYC Docs to Russian Trolls for Bitcoin: US Treasury

The US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned 16 groups and 16 persons for meddling in the 2020 election.

Microstrategy Will Now Pay Board of Directors in Bitcoin as Treasury Grows to Nearly 100K BTC

Nasdaq-listed Microstrategy, which has amassed nearly 100K bitcoins in its treasury, has modified its compensation agreements for the board of directors.

Chinese Tech Firm Meitu Buys 175 Bitcoin, Treasury Now Holds $100 Million Worth in BTC and ETH

The China-based smartphone and internet app maker Meitu has announced the acquisition of $10 million worth of bitcoin for its treasury after the firm purchased digital assets two times prior last month.

Terrorists still raise money through crypto, but the impact is limited

Evidence suggests crypto’s role in terrorism remains relatively minor: “It has not yet become a primary means of terror financing.” We’re living today “amidst an explosion of risk related to fraud, money laundering, terrorist financing, and data privacy,” said United States Treasury Secretary Janet Yellen in February — and she specifically cited cryptocurrencies as a “tool to finance terrorism.” Yellen appeared to be flagging an important new turn in the war against terror, and it begged some questions: Is crypto in the hands of terrorists a real, present danger to governments and society? If so, should the cryptocurrency and blockchain industry be worried? Recent evidence suggests that crypto’s role as an enabler of terrorism globally remains relatively minor.

Number Of Bitcoin Mentions In Company Earnings Reports Goes Parabolic

Among the many reasons for the ongoing bull run in Bitcoin, has been the emergence of corporations and businesses adding BTC to their company treasury reserves.

Real Estate Billionaire Buys Bitcoin, Accepts BTC for Rent Payment at His Residential and Retail Properties

Billionaire real estate mogul Rick Caruso has revealed that his company has invested in bitcoin for its treasury and will begin accepting the cryptocurrency for rent payment at its properties.

Yellen & Global Tax Plan, Russian Crypto Consultation, Indian NFT Marketplace + More News

Janet Yellen. Source: A video screenshot, Youtube/Credit Suisse Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Tax news Janet Yellen will use her first major address as US Treasury secretary to argue for a global minimum corporate tax rate, as she makes the case for President Joe Biden’s

Crypto Analyst Claims MicroStrategy Is “On The Ropes” Amidst Bitcoin Selloff

MicroStrategy and its head honcho Michael Saylor have become synonymous with Bitcoin, responsible for kicking off the corporate treasury reserve trend that’s transpired ever since.

Bitcoin is Showing Great Resilience Considering the Surging 10-Year Treasury Yield

Crypto analyst and investor Joseph Young has disclosed that BTC is showing considerable resilience despite unfriendly market forces like the surging 10-year treasury yield.

Bullishness for Bitcoin continues despite its struggle to reclaim $60,000

Bitcoin bulls attempt to chip away at the $60,000 resistance level as rising US Treasury yields continue to cause havoc in global financial markets. Bitcoin (BTC) continued to face strong resistance at the $60,000 level on March 19 as bulls spent the day climbing back from an early morning drop which briefly pushed BTC into the sub-$56,500 range. Data from Cointelegraph Markets and TradingView shows that after being rejected at the $60,000 level on March 18, the price of Bitcoin hit a low of $56,268 in the early hours on Friday before dip buyers returned to help lift the price back above $58,500.

Canadian Condo Company Invests in Bitcoin, Hopes to Become ‘Self-Sustaining Real Estate’

A few months ago a trend started where well known businesses like Microstrategy, Square, and Tesla started adding bitcoin to their company balance sheets.

Bank of America claims it costs just $93 million to move Bitcoin’s price by 1%

Bank of America strategists have estimated that it takes in-flows of just $93 million to move Bitcoin’s price by one percent. The now infamous Bank of America research note slamming Bitcoin also contains research suggesting that it takes just $93 million worth of inflows to move Bitcoin’s price by one percent. “Bitcoin is extremely sensitive to increased dollar demand,” said the note authored by Bank of America strategist Francisco Blanch, featuring contributions from Philip Middleton and Savita Subramanian. The analysis found that it would take at least $2 billion worth of inflows to move the price of gold by a single percentile, while more than $2.25 billion would be needed to exert the same price impact on 20-year-plus treasury bonds.

Chinese Public Company Meitu Buys More Bitcoin — Treasury Now Holds $90 Million in Cryptocurrencies

One of China’s top internet app makers, Meitu Inc., has purchased more bitcoin for its treasury.

Bitcoin bulls 'hold back’ as BTC’s monthly futures expiry approaches

Bitcoin price briefly rallied above $60,000 but analysts say bulls are holding dry powder until after the March BTC futures expiry. Bitcoin (BTC) briefly reclaimed the $60,000 level on March 18 as concerns over the strength of the equities market mount due to rising US Treasury yields.  Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin began increasing in the late-night trading hours on March 17 and it briefly crossed above $60,150 before meeting overhead resistance.

Ethereum fails to break out vs. Bitcoin as Treasury yields soar — Will ETH relief rally?

The ETH/BTC pair remains pinned below a key resistance level as the macro landscape worsens.

BTCS Generating Revenue By Securing Smart Contract-Based Proof-Of-Stake Blockchains

Disclaimer: The text below is a press release that was not written by Cryptonews.com. In 2021, companies are enhancing their treasury management strategies to realize improved returns by allocating liquid funds to cryptocurrencies.

Blow to Bitcoin as Key US Yield Hits Feb 2020 High Ahead of FOMC Meeting

Key Bitcoin Takeaways Bitcoin sell-off accelerated ahead of the US session as US 10-year Treasury yields hit a fresh 13-month peak.

Bitcoin price dips under $55K as US bond yields touch 13-month high

Fresh difficulties for BTC price action fails to dent investor enthusiasm as the battle for $55,000 support begins. Bitcoin (BTC) slid under $55,000 on March 17 as United States treasury yields built on a comeback, which took them to their highest in over a year. BTC/USD 1-hour candle chart (Bitstamp).

Hedge Fund Manager Says Sell-off in US Treasury Bonds a Threat to ‘High-Flying Assets’ Like BTC

Hedge fund manager Bob Prince has warned that the recent sell-off in the US government bond market could accelerate and this could “threaten high-flying assets” like cryptocurrencies and blank cheque companies.

Proposed FinCEN rule is a 'grave threat to personal privacy,' says Coin Center

In its latest comment, the advocacy group goes after the proposed requirement to create currency transaction reports for crypto transactions. After the US Treasury Department extended the comment period for anyone to express their thoughts on a proposed crypto rule, non-profit crypto policy advocate group Coin Center has made another — and possibly final — argument to regulators. Coin Center directed its comment to the Financial Crimes Enforcement Network, or FinCEN, over proposed rules that would require registered crypto exchanges in the US to verify the identity of people using "an unhosted or otherwise covered wallet" for a transaction of more than $3,000 and report on all crypto transactions of more than $10,000.

Microstrategy Scoops up 262 Bitcoin, Treasury Holds 91K BTC at an Average of $24K per Coin

On March 12, the publicly-listed firm Microstrategy announced the company purchased an additional 262 bitcoin for $15 million in cash.

Publicly Listed Maker of Billion-User Chinese App Meitu Buys $40 Million of Bitcoin and Ether for Its Treasury

One of China’s top internet app makers, Meitu Inc., is adding up to $100 million worth of cryptocurrencies to its treasury, joining a growing list of companies worldwide to do so.

Beware the ides of March: Bitcoin slumps as Treasury yields and the dollar rise again

Bitcoin sees weakening momentum as the US dollar recovers and Treasury yields rise. The price of Bitcoin (BTC) is struggling to break past $51,000 on March 8 as the US Treasury yield is rising again while the US Dollar Index (DXY) is at the highest levels in over three months. The global stock market, including equities in the US and Asia, have pulled back in tandem as the Senate's stimulus approval sparked inflation fears. BTC (orange) vs.

Blockchain Group to Meet With US Treasury Department Executives Over Brewing Regulations

The Blockchain Association plans to meet with US Treasury Department officials in the wake of impending cryptocurrency regulation.

Big Tech sell-off and rising Treasury yield pin Bitcoin price below $50K

A sharp spike in the 10-year US Treasury yield and an extended Big Tech sell-off is weighing on cryptocurrency prices as investors flee risk-on assets. Bitcoin (BTC) continues to struggle below $50,000 on March 5 as a spike in the 10-year Treasury yield to 1.62%, its highest level in over a year, has taken a toll on global financial markets and hit risk-assets especially hard.  At the time of writing the S&P 500 and Dow are up 0.46% and 0.64% but the tech sector sell off continues as companies like Apple and Tesla continue to slump further.  Economists see rising bond yields as the result of improvements in the economy thanks to the Covid-19 vaccine rollout and the expectation that economic activity will ramp up as the rate of coronavirus infections drop. The

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway

The US Federal Reserve is in a predicament as fiscal deficits erode the American economy and the nation is seeing a spike in benchmark 10-year Treasury yields.

Bitcoin Bearish Correction Pauses: Focus Remains on Dollar and Yields

Bitcoin prices extended losses on Friday as the US dollar gained alongside the long-term Treasury yields.

Blockchain Association meeting with key Biden staff about regulations

The crypto advocacy group is going on a charm offensive and meeting with top representatives of the Biden administration. US-based crypto advocacy group, the Blockchain Association, is lobbying key figures in the Biden administration to advocate for more favorable regulations. The Association’s executive director, Kristin Smith, told Fox Business the group has already met with or is in the process of scheduling meetings with high-ranking Whitehouse officials including Treasury Secretary Janet Yellen, Deputy Secretary nominee and former BlackRock executive Wally Adeyemo, along with representatives of the Treasury Department. Citing reported comments from Yellen about how the primary utility of cryptocurrency is “illicit financing,” Smith said the association’s key aim was to assist the Treasury chief to “understand the value of crypto networks:” Our number one priority is helping Yellen understand crypto goes beyond the financing of criminal enterprises.” Yellen has been criticized by the crypto sector for describing Bitcoin as “an extremely inefficient way of conduction transactions,” and speculating that BTC is not “widely used as a transaction mechanism.” Despite her apparent hostility toward Bitcoin, Yellen has expressed openness to centralized DLT, with the secretary stating a digital dollar could offer “faster, safe, and cheaper payments” than existing fiat currency last month.

Bitcoin Stablizes With Insitutional Support, But Volatility Could Hit in March

The text below is an advertorial article that was not written by Cryptonews.com journalists. Cryptocurrencies made a strong bounce back as the yield of the benchmark 10-year Treasury bond fell below 1.5% to 1.429% after a week's surge.

Ripple's executive chairman moves to dismiss SEC lawsuit

Chris Larsen has filed a motion to dismiss the SEC's case against him as part of the Ripple lawsuit. Chris Larsen — Ripple’s executive chairman — has joined company CEO Brad Garlinghouse in moving to dismiss the securities violation case filed by the US Securities and Exchange Commission. In a court letter filed on Wednesday, Larsen’s attorneys provided four arguments detailing the reasons why the case against the Ripple executive should be struck. According to the letter, the SEC cannot substantiate its claims that Larsen “knowingly or recklessly provided substantial assistance” towards the violation of Section 5 of the Securities Act of 1933. Arguing further, the letter stated that in 2015, when Larsen bore the designation of Ripple CEO, both the Justice Department and the Treasury Department’s Finance Crimes Enforcement Network classified XRP as a currency.

Badger DAO announces $21 million treasury diversification via VC partners

Badger DAO has welcomed some deep-pocketed investors into the community with an asset sale aimed at de-risking the treasury portfolio. Some major venture capital names are ‘sett’ to join the Badger DAO community.  Bitcoin on Ethereum-focused decentralized finance (DeFi) protocol Badger DAO announced today a $21 million sale of DAO treasury assets to four major investors: Polychain Capital, Parafi Capital, Blockchain Capital, and noted whale wallet 0xB1.

Turkish finance ministry to study cryptocurrency with local regualtors

Regulators are taking a hard look at crypto in Turkey, but local experts welcome the oversight. Turkey made itself a name as a crypto-friendly country with a "wait and see" approach on digital assets, but that could be about to change as the government is now ready to take things in hand. The Turkish Ministry of Treasury and Finance went to Twitter to express concerns about cryptocurrencies and to announce collaborative work on the topic with several local regulators on March 1. According to the announcement, the ministry is working with the central bank alongside two financial regulatory agencies: "We share the rising concerns about crypto with the rest of the world.

Miami Mayor dismisses Treasury Secretary Yellen's criticism of Bitcoin

Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country's premier crypto-hub.

BTC Balance Sheets: 42 Companies Hold 1.3 Million Bitcoin Worth More Than $65 Billion

Since the company Microstrategy shifted a lot of its treasury reserves into bitcoin, a great number of companies have followed the firm’s lead.

Cathie Wood Says Janet Yellen Doesn’t Understand Cryptocurrency, Bitcoin Far More Energy Efficient Than Gold

Hedge fund heavyweight Cathie Wood of ARK Invest says US Treasury Secretary Janet Yellen doesn’t understand cryptocurrencies and Bitcoin.

Increasing stock market volatility drags Bitcoin and altcoin prices lower

Growing concerns over rising US Treasury yields are putting pressure on global financial markets and possibly dragging cryptocurrency prices lower. The cryptocurrency market faced another day of downward pressure as the unease in the traditional markets continues to spread following the recent interest rate spike on the 10-year US Treasury bond.  Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin (BTC) fell to a low at $44,710 late on Feb.

Crypto Industry Wins More Time For FATF Travel Rule

There may yet be some wriggle room for the crypto exchanges and other virtual asset service providers (VASPs) struggling to get their platforms ready for Travel Rule compliance – with the Financial Action Task Force (FATF) admitting that it may be prepared to budge on amending the guidance, which some claim is not fit for purpose. Per a paper from the American Treasury Department, the FATF has

Soaring Treasury yields are worrying economists — But what does this mean for Bitcoin?

The price of gold has also been stagnating, but this isn't necessarily bad for "digital gold" Bitcoin.

Coinbase has held Bitcoin on its balance sheets since 2012

The American exchange is offering services and advice to other private and publicly traded firms who want to hold digital assets in their treasuries. United States-based cryptocurrency exchange Coinbase has revealed that Bitcoin (BTC) and other crypto assets have been a key component of its corporate treasury since the company's founding back in 2012.  In a new announcement addressed to other corporate actors, the exchange presented its own experience in managing its treasury position in cryptocurrencies as a solid foundation for advising other private and publicly-traded companies about how to deal with their own prospective investments.  In a newly-published, highly detailed Corporate Treasury FAQ, the exchange provides a thorough overview of the kinds of investment, accounting, and tax policies that companies would need to consider and adopt if they wish to diversify their treasuries into crypto.  The FAQ is both a general resource that covers all manner of regulatory, auditory, technical and investment questions about crypto from a corporate investment perspective and a pitch for companies to choose Coinbase in particular as a trade execution, consultant and professional custody partner. The document also provides overviews of Bitcoin's performance in recent years from a macro perspective, revealing its favorable comparison to other financial assets such as gold and the S&P 500. "Bi