Wednesday, July 28

Crypto assets

Amazon, Bitcoin, bitcoin as payment, crypto, Crypto assets, Markets, MI Exclusive, Tech, Tech Insider

Amazon rejects speculation about bitcoin payment plans as untrue, but says it’s still exploring crypto

AP Photo/Elaine Thompson Amazon dismissed a report specifying its plans to accept bitcoin and to issue its own token. Speculation around plans for crypto payments by the end of 2021 is not true, the online retailer said Tuesday. But it is looking into crypto developments and what this could mean for Amazon shoppers, it said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Amazon on Tuesday rejected a report that it plans to accept bitcoin payments by the end of 2021, dismissing the widespread speculation around the details of its approach to digital currencies as untrue.Chatter around the US online retail giant's crypto intentions was sparked by CityAM's report on Monday, which cited an Amazon insider as its source. The insider said Amazon is working tow...
Amazon, Bitcoin, bitcoin as payment, bitcoin price, Cathie Wood, crypto, Crypto assets, Cryptocurrencies, Elon Musk, Jack Dorsey, Markets, MI Exclusive, Tech Insider, The B Word

Bitcoin surges 15% to top $38,000, boosted by comments from influential investors and chatter about Amazon getting into crypto

OZAN ​​KOSE/AFP via Getty Images Bitcoin leapt 15% on Monday to rise above $38,000 for the first time in about six weeks, after remarks from influential commentators and a report that Amazon is considering accepting payments in the cryptocurrency helped restore bullish investor sentiment.The coin was trading at around $38,750 as of 3:15 am ET, representing a 33% gain so far this year. It had earlier hit a 24-hour high of about $39,544, its highest level since mid-June.After being stuck in a descending slope for three months, bitcoin broke out at the top end of recent levels following positive comments from leading CEOs Elon Musk, Jack Dorsey, and Cathie Wood at "The B Word" event last week. Tesla CEO Musk said the electric-vehicle maker would be open to accepting bitcoin as payme...
Bitcoin, Bitcoin ETF, Bitcoin ETF delay, bitcoin price, crypto, Crypto assets, Cryptocurrencies, Markets, MI Exclusive, SEC, SEC bitcoin

A bitcoin ETF may not be approved by the SEC until 2023 despite surging interest, according to a fund provider that’s already been through the process

Former Commodity Futures Trading Commission Chairman Gary Gensler testifying before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill on July 30, 2013. Photo by Chip Somodevilla/Getty Images The wait for an SEC approved bitcoin ETF might be longer than most think, according to one fund provider that's been through the approval process.William Cai of Wilshire Phoenix doesn't expect the SEC to approve a bitcoin ETF until 2022 or 2023. "A bitcoin ETF is not on his top priority list as far as we can see," Cai said, referring to SEC chief Gary Gensler.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Anticipation for a SEC-approved bitcoin ETF is high, but investors shouldn't hold their breath as it may still be years away from becoming re...
Bitcoin, bitcoin price, bitcoin price outlook, crypto, Crypto assets, Cryptocurrencies, Finance, Markets, MI Exclusive, Trading

Here is what it’ll take to pull bitcoin out of its bear market, according to JPMorgan

Nurphoto / Getty Images The bear market in bitcoin is ongoing as momentum traders unwind their positions, JPMorgan said in a note on Wednesday. The bank is looking for signs of new institutional adoption to help lift bitcoin from its rut."We believe that the share of bitcoin in the total crypto market would have to normalize further and perhaps rise above 50%" to end the current bear market, JPMorgan said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The ongoing bear market in bitcoin is showing no signs of ending anytime soon, JPMorgan said in a note on Wednesday.The bank is looking for indications that the worse in bitcoin's price decline may be behind us, but in order to argue that the bear market is over, JPMorgan wants to see bitcoin's valuation sh...
Bitcoin, crypto, Crypto assets, Crypto crash, Cryptocurrencies, Markets, MI Exclusive

Bitcoin slides below $30,000 as fears mount over surging COVID-19 cases-and now trades 55% below its record high

STR/NurPhoto via Getty Images Bitcoin slid below $30,000 on Tuesday for the first time in about a month as rising fears of the fast-spreading Delta variant hit global stocks sharply on Monday.The cryptocurrency was last trading at $29,770 as of 3:25 am ET, down about 55% from its record high of $64,870 on April 14.Ether fell 7% to $1,761, cardano fell 9% to $1.07, XRP fell 9% to 53 cents, and dogecoin fell 7% to 16 cents.The broad sell-off led to a drop of $98 billion in the value of the entire cryptocurrency market, according to data from CoinMarketCap. "Bitcoin has not been immune to market volatility and is another casualty of the sell-off across financial markets. Investors edged away from crypto wallets after stocks plunged," said Susannah Streeter, senior investment ...
Bitcoin, crypto, Crypto assets, Crypto crash, Cryptocurrencies, Markets, MI Exclusive

Bitcoin slides below $30,000 as fears mount over surging COVID-19 cases — and now trades 55% below its record high

LoadingSomething is loading. Bitcoin slid below $30,000 on Tuesday for the first time in about a month as rising fears of the fast-spreading Delta variant hit global stocks sharply on Monday.The cryptocurrency was last trading at $29,770 as of 3:25 am ET, down about 55% from its record high of $64,870 on April 14.Ether fell 7% to $1,761, cardano fell 9% to $...
Anthony Di Iorio, Blockchain, Canada, crypto, Crypto assets, Crypto billionaire, Cryptocurrencies, Decentral, Ethereum, Markets, MI Exclusive

Ethereum’s co-founder says he’s done with crypto because it’s too risky-and only represents a small bit of what the world needs

Anthony Di Iorio, co-founder of ethereum. Decentral Anthony Di Iorio, a co-founder of the ethereum blockchain, is wrapping up his time in the cryptocurrency world due to personal safety concerns, and because he no longer wants to be known as the "crypto guy."He recently told Bloomberg he wasn't too encouraged by the risk profile attached to the industry."I don't feel necessarily safe in this space," he said. "If I was focused on larger problems, I think I'd be safer."The 48-year-old Canadian has had a security team since 2017, and mostly been accompanied on his travels, Bloomberg said. He soon plans to sell his current blockchain venture Decentral to focus on philanthropy and other projects unrelated to crypto. Decentral, founded in 2014, is a Toronto-based wallet and cryp...
Bitcoin, crypto, Crypto assets, crypto experts, Cryptocurrencies, Markets, MI Exclusive, Predictions

We spoke to 4 experts about the key themes for crypto for 2021-from regulation, to price volatility, and growing everyday use

Edward Smith/Getty Images Cryptocurrency prices have been somewhat quiet this month against a backdrop of increased scrutiny from regulators, and as those with interest in the market pay close attention to daily developments.Insider spoke to four industry executives-whose expertise spans retail and institutional adoption, collectible non-fungible tokens, and decentralized finance-to give us their predictions for what lies ahead.State regulatory clampdowns"Regulation will hurt crypto. We're already seeing how things like crackdowns over bitcoin mining in China and scrutiny over global exchanges like Binance have caused panic in the markets. Governments should be in favor of innovation, but right now we're seeing a lot of governments step in and try to regulate a sector that they d...
Bitcoin, Crypto assets, Cryptocurrencies, Dogecoin, Hamas, israel, Israeli Defense Force, Military & Defense, Palestine, Politics, UK Weekend, Weekend BI UK

Israel is seizing cryptocurrency wallets from the Palestinian militant group Hamas, which has been using them to raise funds from donors worldwide

Cryptocurrency wallets used by the military wing of Hamas are being seized by Israel. Israel's defence minister ordered security forces to seize 84 Hamas-controlled crypto wallets. Most deposits were found to be in tether and bitcoin, according to a tracking firm's analysis. See more stories on Insider's business page. Israel has begun seizing cryptocurrency wallets used by the Palestinian militant group Hamas, the Associated Press and Al Jazeera reported.Defence minister Benny Gantz said the group had been pursuing an online campaign to raise finances in the aftermath of the 11-day Gaza conflict, which killed more than 200 Palesti...
Bitcoin, Crypto assets, Cryptocurrencies, Ether, Markets, MI Exclusive, Visa, Visa Card

Visa is partnering with over 50 crypto companies to allow clients to spend and convert digital currencies

Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Visa is partnering with over 50 crypto companies to allow clients to spend digital currencies. This means clients can buy from any merchant accepting Visa, even those who do not accept crypto. More than $1 billion was spent on crypto-linked Visa cards in the first half of 2021. Visa on Wednesday announced that it is partnering with over 50 cryptocurrency companies to allow clients to spend and convert digital currencies through its card program.The partnership will make it easy for clients to convert and spend digital currencies at 70 million merchants worldwide, even those that do not accept digital assets."The merchants don't have to change anything," Cuy Sheffield, Visa's head of cryptocurrency, told Insider. "It will be t...