Cryptocurrencies hold “no societal benefits,” and should instead be seen as a form of gambling, according to European Central Bank (ECB) board member Fabio Panetta. In a speech held at the Bank for International Settlements (BIS) last week, Panetta argued that cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), fail to serve any meaningful purpose in society. He also made it clear that…
A culprit in the infamous 2020 Twitter hack who phished thousands of dollars in Bitcoin from Twitter users has been sentenced to five years in prison for his crime, as well as for a separate SIM swapping scheme. During the sentencing in the U.S. District Court for the Southern District of New York on Friday,…
Venezuela’s ban on cryptocurrency mining has severely damaged the industry that President Nicolás Maduro once supported. Back in March, the state regulators ordered a halt on mining cryptocurrencies after an investigation into a corruption scheme in which crypto wallets redirected payments owed to the state-run oil company Petróleos de Venezuela. So far, around 80 people have been arrested in…
The U.S. government has established a new task force for targeting crypto crime consisting of five investigators from different federal agencies. Established on June 15, the “Darknet Marketplace and Digital Currency Crimes Task Force,” aims to “disrupt and dismantle criminal organizations” that use the “appearance of anonymity” provided by digital currencies to enable drug trafficking, money…
Warren Buffett says a “too-high purchase price” can undo a decade’s worth of stock market returns. It’s not enough to buy a good company, you need a good entry point too. One way to do this is to look at stocks near their 52-week lows. A company at its cheapest price in a year could end…
A French real estate firm has signed a partnership deal with domestic crypto pay provider, an indication that the European nation may be the next to embrace crypto-powered commerce. Per Boursier, Apsys will allow customers to pay using crypto at all of its shopping malls. The firm operates the malls L’Heure Tranquille in Tours, Les Rives de l’Orne in Caen,…
Crypto exchange Gemini has announced plans to expand into the Asia-Pacific (APAC) region to capture the “next wave of growth for crypto.” The US-based crypto exchange aims to increase its headcount in Singapore and establish an engineering division in India, the platform said in a Monday blog post. “We are excited to announce our expansion plans in APAC as Gemini’s leadership team recently…
The competition to launch a spot Bitcoin exchange-traded fund (ETF) in the US has intensified, with Invesco and WisdomTree filing submissions with the Securities and Exchange Commission for their own Bitcoin ETFs. On Tuesday, WisdomTree filed for the WisdomTree Bitcoin Trust, requesting the SEC to allow it to list its fund on the Cboe BZX Exchange under the ticker “BTCW.” The asset management firm, with…
recently got a promotion and figured it was a great time to start really hashing out my finances. I wanted to make a financial plan of some kind, but wasn’t sure where to start. When I reached out to experts on the matter, many of them referenced the six steps in the financial planning process, according…
C3.ai (: AI) has been a volatile and divisive stock ever since its public debut in Dec. 2020. The enterprise artificial intelligence (AI) software company priced its IPO at $42, and its stock more than quadrupled to an all-time high of $177.47 that same month. Investors were initially drawn in by its rapid revenue growth…
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