Category Archives: Cryptocurrency News

The IMF urges the El Salvadoran government to withdraw its support for bitcoin

The leadership of the International Monetary Fund (IMF) once again called on the El Salvadoran government to refuse to recognize bitcoin as legal tender. In a statement published on the organization’s website, it is emphasized that the use of the first cryptocurrency for payments “causes huge risks to financial stability, financial integrity and consumer protection, as well as to the accompanying fiscal obligations.” “Members of the Board of Directors of the IMF are calling for…

Meta introduced a supercomputer for the development of AI Research

Meta has unveiled the Research SuperCluster supercomputer to develop next-generation AI that will “prepare the ground” for the creation of the metaverse. Technology company Meta has unveiled its own Research SuperCluster (RSC) supercomputer, which will help in the development of “advanced” artificial intelligence. The computer is already running and the company says it will be the fastest computer in the world. It is planned to put the RSC into operation by mid-2022. According to Meta,…

Goldman Sachs: Metaverses will be able to bring their creators $ 8 trillion

Eric Sheridan, an analyst at the global investment bank Goldman Sachs, called the emerging metaverse industry capable of generating multi-trillion-dollar profits. Sheridan shared his forecast in the latest issue of Exchanges at Goldman Sachs on the investment company’s YouTube channel. The issue was titled “Understanding the Metaverse and Web 3.0”. The authors asked Sheridan’s opinion on how much potential the metaverse has as a business project. The analyst replied: in terms of revenue and monetization,…

The new mayor of New York will convert salary into BTC and ETH

The head of the New York City Hall, Eric Adams, said that he would convert his first salary in this post, which the official is waiting for the other day, into bitcoin and ethereum. Eric Adams took office as Mayor of New York on January 1, 2022. In November, Adams said he was ready to receive his first three salaries in bitcoin. However, under Department of Labor regulations, U.S. citizens cannot receive digital assets as…

SEC banned MicroStrategy from listing BTC as an asset in reporting

MicroStrategy was forced to remove data on investments in cryptocurrencies from the financial statements at the request of the SEC. The regulator justified this by the volatility of bitcoin. MicroStrategy posted a net loss of $36.1 million in its Q3 financial statement ending September 30, 2021. However, the addition of share-based compensation expenses and the drop in cryptocurrencies resulted in the company’s unofficial non-GAAP earnings ), rose to 18.6 million. MicroStrategy has told the Securities…

Bloomberg: Google Is Forming New Blockchain Development Group

According to Bloomberg, Google is forming a new team that will develop blockchain and “related technologies”. The group will be led by Shivakumar Venkatamaran. Bloomberg reports that Shivakumar Venkatamaran previously served as vice president of technology at Alphabet Inc. The group will focus on blockchain and other “next-generation technologies for distributed computing and data storage.” The team will be part of a division that develops in the field of virtual and augmented reality. As one…

Bybit opened its own NFT trading platform

Cryptocurrency exchange Bybit announced the launch of a platform for “first-class NFT projects”, where it plans to attract well-known brands and world celebrities. The NFT Marketplace platform, according to Bybit, will have to be different from existing sites that trade non-fungible tokens. Customers do not need to connect external wallets – they can use their existing Bybit accounts to purchase NFTs. In addition, the site promises to support NFTs based on different blockchains. Blockchain game…

The British Treasury is going to ban free advertising of cryptocurrencies

The UK Treasury Secretary said that advertising of cryptocurrencies should be controlled by the FCA or the Bank of England and comply with the standards that apply to insurance products. UK Treasury Secretary Rishi Sunak has taken the initiative to ban the uncontrolled distribution of cryptocurrency advertising. According to him, more than 2.3 million Britons already own crypto assets, but they have become less understanding due to misleading ads. The minister said that he increasingly…

Research: Since 2013, the SEC has fined cryptocurrency projects for $2.35 billion

According to Cornerstone Research, since 2013, the SEC has filed 97 lawsuits against participants in the cryptocurrency industry, 20 of them occurred in 2021. The total amount of fines amounted to $2.35 billion. According to an updated report by Cornerstone Research, last year the U.S. Securities and Exchange Commission (SEC) filed 14 lawsuits in U.S. federal courts and initiated 6 administrative proceedings regarding cryptocurrency projects. 70% of these enforcement actions were related to Initial Coin…

Texas mining company Rhodium is preparing for a $1.7 billion IPO

Rhodium Enterprises filed with the US Securities and Exchange Commission (SEC) for an initial public offering on January 13th. This will be the first IPO of a cryptocurrency company in 2022. Rhodium plans to issue 7.69 million shares at $12-14 each, the statement said. Under the Nasdaq ticker RHDM, the company will issue 56.8 million Class A shares and 67.5 million Class B shares for a total of $1.7 billion. Rhodium Enterprises is a mining…