What are the chances BTC is actually overtaken by another crypto?

When the famous Satoshi Nakamoto first designed his masterpiece, few could possibly have imagined the almost $63,500 peak that sent investors into a frenzy. Even these days, the first-ever cryptocurrency’s price feels hard to believe at times and investors might be pinching themselves every now and then. Taking a seat alongside Bitcoin (BTC) on the roller coaster, altcoins like Litecoin (LTC), Ether (ETH) and Bitcoin Cash (BCH) joined the ride — and, more recently, DeFi giants Polkadot and Cardano. But for the long haul, looking into the crystal ball, it’s…

Crypto Briefing’s CB10 Index Sees Large Rebalance to ETH, DOGE

Key Takeaways Crypto Briefing’s CB10 index has doubled in value since it was created in January. Ethereum was the top gainer in the index, enjoying 63% monthly returns this month. Dogecoin and Solana entered the index replacing Filecoin and Stellar. Share this article Crypto Briefing’s CB10 index of the top ten cryptocurrencies weighted by market capitalization has continued to outpace Bitcoin in this bull run.  The index’s monthly reconstitution was performed at 10 am on May 3, 2021.  CB10 April Performance  CB10’s return for April stood at 11% at the…

Bank of England governor issues crypto investment warning

Andrew Bailey, governor of the Bank of England has warned crypto investors of the dangers of participating in the market. Speaking during a conference on Thursday, Bailey balked at the notion of “cryptocurrencies,” stating that “crypto assets” was a more suitable nomenclature for describing virtual currencies. The BoE governor espoused well-worn anti-crypto rhetoric, specifically the argument that cryptocurrencies lacked intrinsic value. “I would only emphasise what I’ve said quite a few times in recent years [and] I’m afraid they have no intrinsic value,” Bailey added. Delivering his stark warning to…

Turkish government to track crypto transactions over $1,200

Crypto exchanges with a presence in Turkey must now inform the Financial Crimes Investigation Board, or MASAK, about any crypto transactions over 10,000 Turkish liras ($1,200).  Turkish Minister of Treasury and Finance Lütfi Elvan announced the new policy on a CNN Turk live broadcast last night.  Two weeks after a $150-million fraud involving a major crypto exchange in Turkey, Elvan shared updates on the government’s draft crypto regulation on live TV. Turkey’s central bank has defined crypto as a nonmonetary asset and banned the use of cryptocurrency as a form of…

Citigroup considers crypto amid surge in customer demand on Wall Street

Citigroup is reportedly considering offering crypto-related services to its customers in response to rising demand, specifically from asset managers and hedge funds. The financial services firm’s global head of foreign exchange, Itay Tuchman, told the Financial Times on Friday that the investment bank was already exploring the possibility of providing crypto services to its clients. Trading, financing and custody services are being discussed, but Tuchman said the firm would not be rushed into launching something that would worry regulators. “We shouldn’t do anything that’s not safe and sound. We will…

Ivanka Trump’s luxury Miami apartment block accepting crypto for condos

Luxury Miami apartment Arte Surfside will now accept cryptocurrency as a form of payment for its remaining luxury residences — including the Villa Nove penthouse, currently listed for $38 million. The firm has partnered with trading platform SolidBlock, allowing potential buyers to pay in multiple cryptocurrencies, including Bitcoin and Ether. The region’s “most exclusive” condominium is already home to Ivanka Trump and Jared Kushner, as well as fashion blogger Arielle Charnas from Something Navy. It’s now attempting to appeal towards crypto millionaires and billionaires attracted by Miami’s Bitcoin-friendly reputation.  According…

Nuvei eyeing $250M acquisition of crypto startup Simplex

Canadian payments giant Nuvei is reportedly in talks to acquire Simplex, an Israeli cryptocurrency startup, for up to $250 million — sending a strong signal that the electronic payments processing industry is pivoting toward digital currencies.  The deal between Nuvei and Simplex is expected to be finalized “in the next few days,” according to BlockBeats, a Beijing-based blockchain publication. The deal could be worth between $200 million and $250 million. Neither Nuvei nor Simplex have confirmed the sale at the time of publication. By targeting Simplex, Nuvei is clearly expanding…

SEC chair hints at greater regulatory oversight for US crypto exchanges

Recently confirmed U.S. Securities and Exchange Commission chair Gary Gensler punted to congress on providing more regulatory oversight to the crypto space, but also said the commission would act within its purview.  In a virtual hearing held by the House Financial Services Committee today, North Carolina Representative Patrick McHenry asked Gensler what the regulatory body would be doing to ensure a “vibrant digital asset marketplace with legitimate money and the rule of law.” McHenry highlighted collaborations across regulatory agencies regarding digital assets and cryptocurrencies. Gensler said the crypto market could…