$24M CryptoPunk sale shows either ‘NFTs are over’ or ‘this is the bottom’

U.S. mining firm Riot Blockchain has published its financial report for Q1 2020 — painting a picture of a company heavily reliant on equity and debt financing to fund its operations.The firm reported recurring losses and negative cash flows from its operations, with Riot anticipating continued losses over the near term.But the mining outfit is…

While global stock markets are experiencing extreme turmoil, cryptocurrency projects keep introducing more ways to trade gold-backed assets twenty-four hours a day.PAX Gold (PAXG), a major cryptocurrency pegged to physical gold, has now rolled out for trading against two European fiat currencies — the Swiss franc (CHF) and the British pound (GBP).The new trading pairs…

United States Secretary of the Treasury Steven Mnuchin said that he and Federal Reserve Chairman Jerome Powell do not anticipate the development of a national digital currency in the country.Mnuchin delivered his comments during a House Financial Services Committee hearing in Washington, Bloomberg reported on Dec. 5. “Chair Powell and I have discussed this —…

The physical ETPs will only be available to professional and institutional investors as the retail ban on crypto trading and sale of crypto derivatives

The last ten days have been nothing short of impressive for Dogecoin (DOGE), which rallied by more than 500% to a new all-time high at $0.45. Even after a 15% correction, the powerful rally catapulted Dogecoin’s market capitalization above well-established financial institutions like ING, Barclays, and Credit Agricole.The meme-driven cryptocurrency was pushed higher by multiple…

Russia's central bank wants the digital ruble to help businesses by cutting out financial middlemen. 218 Total views 3 Total shares Russia’s digital ruble is expected to reduce business costs, but could also cut profits for commercial banks, according to Elvira Nabiullina, the chairwoman of the Bank of Russia.At a Dec. 3 meeting of “Opora…

Bitcoin (BTC) has seen solid growth to break back above the $7,000 mark today, August 7. The overall crypto market is seeing a healthy flush of green, rallying forth after the weekend’s losses, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,118 at press time, up around 2.5 percent…

Shortly after Russia’s President Vladimir Putin signed the country’s recent cryptocurrency law, the country’s largest bank voiced its considerations. Sberbank, a state-owned company and the largest bank in Russia, is considering the possibility of issuing its own token, according to its key executives.Sergey Popov, Director of the transaction business at Sberbank, says that Russia’s banking…

The Asia Pacific and European markets slide in caution ahead of key U.S. inflation data. 158 Total views 1 Total shares Growing inflation has become a mounting concern for nations around the world, especially the United States. The U.S. has seen one of the sharpest rises in consumer inflation over the past year. Lawmakers around the…