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Former White House Chief of Communications, Anthony Scaramucci, continues to tout cryptocurrencies as an integral part of people’s financial future.

Anthony Scaramucci has been a proponent of digital currencies for a while now, specifically bitcoin (BTC). In a recent interview with 401K Specialist magazine, he doubled down on his push for Americans to invest sooner rather than later in the world’s most popular digital currency.

While Scaramucci does warn that investing in such a volatile currency should be done in “bite-size, digestible chunks,” he firmly believes that bitcoin should be part of people’s retirement plans. Even if it is just a small amount. In fact, the volatility of digital currencies is exactly why he believes in investing in bitcoin. The co-founder of SkyBridge Capital said that:

“People can trade within their 401k without tax consequences. If we’re right about bitcoin and I was your financial advisor, I would tell you that over the next 100 years, this is the technology that people are going to use for a large swath of commerce on the planet.”

Continue reading at finance.yahoo.com

More than a decade after Satoshi Nakamoto combined proof of work and bitcoin mining together, fallacious comparisons of “energy cost per transaction” continue to be spread by seemingly intelligent and well-researched individuals.

We can trace much of the spread of this narrative back to Alex de Vries—a data scientist who goes by the handle “Digiconomist” and is cited in nearly every anti-bitcoin energy article and op-ed in the mainstream media. There's just one problem. Neither he, nor most of the journalists that cite him, regularly disclose that his employer is De Nederlandsche Bank (DNB), the Dutch Central Bank, which is an undeniable opponent of bitcoin and open payment rails. It’s irresponsible for journalists to cite de Vries, or his work, without disclosing his conflict of interest. He is effectively a DNB lobbyist.

Continue reading at bitcoinmagazine.com

Many of South Korea’s 200 crypto exchanges face an “existential crisis” as they struggle to meet conditions for regulatory approval, in a shake-up for one of the world’s biggest cryptocurrency markets.

To win a business licence as a legal trading platform, Korean exchanges are required to partner local banks to open real-name bank accounts for customers. But banks are concerned that this could leave them liable for any money laundering in digital currencies.

Now, a deadline of September 24 from the Financial Services Commission is looming, and only a handful of exchanges is expected to meet the requirements, reflecting the pressure on the thousands of crypto exchanges that have sprung up around the world while global regulators tighten up on the market.

Continue reading at ft.com

The entire crypto market saw a crash last week and both of these cryptocurrencies took a hit. Below is a comparison of the charts over the past month.

Bitcoin Daily Chart Analysis:

• Bitcoin was unable to break out of the ascending triangle pattern. It saw a large dump after it was unable to cross above the $60,000 level.
• Bitcoin is trading below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the sentiment has been bearish.
• Each of these moving averages may hold as an area of resistance on the chart.

Continue reading at benzinga.com

Indexed joins the fleet of DeFi projects aiming to make passive investing in specific markets in crypto much easier.

Crypto, and DeFi in particular, can be tedious work to follow. By facilitating investment in specific sectors through indices, Indexed Finance creates an enticing financial product that removes much of the hassle of micromanaging a portfolio.  

What Is Indexed?

Not dissimilar to a traditional index fund, Indexed offers passive portfolio management strategies that allow for easy investment in broad sectors of the crypto market.  

In traditional finance, indices are an extremely popular product. There are currently 5,000 U.S. indices available to trade on the stock market. They allow investors to increase their exposure to particular market sectors while softening any sudden downward price movements from a single investment. These indices can represent a country’s largest companies, the key players in a certain sector (the XLV for the health care market, for example), or even a wider selection of consistently well-performing companies like the Dow Jones Industrial Average. Indices play a key role in analyzing the health of a sector and facilitating investments in a broader market.

Continue reading at cryptobriefing.com

US banks may soon give their customers to buy cryptocurrencies – Gecko

The New York Digital Investment Group (NYDIG) is a financial service dedicated to financial services Bitcoin. It has partnered with global banking technology solutions group Fidelity National Information Service (FIS) to provide and provide guidance to US banks seeking to offer exchange services.

When asked by the American channel CNBC on Wednesday, Patrick Sell, director of banking solutions for NYDIG, said that many small banks had already signed up for the program, but also that the firm was in contact with large institutions . Actually, according to him, big banks prefer JP Morgan Or Bank of America, previously reluctant to bitcoin, may change its mind if the adoption of cryptocurrency trading proves successful for small banks.

More and more US banks’ increasing interest in access to crypto-assets can be explained by the success of exchange platforms Robin Hood Or Coinbase, the latter recently went public with flying colors. The amount of money deposited in the accounts of these platforms is staggering. Some 9.5 million Americans have traded cryptocurrency on the Robinhood platform since the beginning of the year and Coinbase deployed in Q20 2021 has revenue of $ 765 million. According to NYDIG President Yan Zhao, banks want a piece of the pie: “It’s not just banks that think their customers want bitcoin, they say: We have to do it, because we see the numbers.” They see deposits known in the world’s Coinbases, Galaxies and Krakens“.

Continue reading at sproutwired.com

Bitcoin – the world’s biggest and most popular cryptocurrency by market cap – is shooting back up. At the time of writing, the asset is trading for just over $57,000. This is a huge improvement over the $54,000 it was at a few days ago and the $49,000 per unit it was stuck at early last week.

Bitcoin May Grow Again Soon

For the most part, it was believed that bitcoin would likely continue its bullish patterns into the month of May, though thus far, this period is proving to be far more volatile than analysts thought. Nate Cox – chief investment officer of digital assets at Two Prime – explained in a recent interview:

Bitcoin did not move the way many derivative traders expected this month.

Steve Ehrlich – chief executive of Voyager Digital – echoed this sentiment but commented that this could potentially lead into something bigger. He says that a drop of this sort in the past has usually led to heavily bullish behavior, suggesting that bitcoin could be on a route to reach new all-time highs over the summer.

Continue reading at livebitcoinnews.com

Turkey’s fiat currency, the Lira (TRY), is in serious trouble – especially against Bitcoin – with consumer price inflation reaching an alarming 16% in March of this year. In January of 2008, the Lira traded at near-parity with the US Dollar but is currently near its all time low of 8.5 TRY to the USD.

Perhaps in response to the surging demand for reliable hard money alternatives like Bitcoin, the Turkish central bank, the CBRT, banned cryptocurrency as a payment method for goods and services in mid-April of this year.

The Plan

The subsequent failure of two Turkish crypto exchanges, Thodex and Vebitcoin, was perhaps a fairly predictable consequence of the harsh and sweeping new restrictions. While the CBRT’s governor has denied any blanket ban of crypto, according to a report published on Bloomberg and attributed to a senior government official, the CBRT is now planning to aggressively regulate the Turkish crypto industry. Much of the proposed regulation appears designed to prevent further exchange failures.

Continue reading at newsbtc.com

Visa CEO Al Kelly detailed the card brand's push to take advantage of trends such as central bank digital currencies and financial inclusion.

Visa is working with central banks on CBDC policy and is advocating for public-private partnerships to support CBDCs, a model that many digital currency experts believe will be the prevailing model, particularly given the complex work required to digitize currency in different nations. Visa has filed a patent application for technology that would support connections between financial institutions and central banks.

"Central bank digital currencies could end up being quite valuable in countries where the infrastructure is unavailable or limited," Kelly, who is also Visa's chairman, said during the company's earnings call. He estimated there's an addressable market of more than 1.7 billion consumers that could be reached and suggesting there's space to expand its work with government clients.

Continue reading at americanbanker.com

Bitcoin is facing a make-or-break moment following a recent bout of selling, according to technical analysis.

Though the cryptocurrency has rebounded above its average price over the past 100 days, it’s still trading below its 50-day moving average. Such a dynamic typically indicates an asset is nearing an inflection point. If Bitcoin can’t overtake its 50-day mean -- which currently sits at about $57,042 -- then it might be in for a period of volatility as the gap between the two trend lines converges. Technical indicators suggest breaking out might not be an easy feat -- Bitcoin failed to do so on several occasions last week.

Trading in the world’s largest digital asset has been choppy in recent days after it hit a record high in mid-April above $64,000. It’s down more than 15% since then, though it rebounded earlier this week amid positive news, including comments from Tesla Inc.’s chief financial officer that reiterated the company’s commitment to the cryptocurrency.

Continue reading at bloomberg.com