Tesla Inc chief Elon Musk said on Tuesday the electric carmaker will accept dogecoin as payment for merchandise on a test basis, sending the meme-based cryptocurrency up 24 per cent, Reuters reported. “Tesla will make some merch buyable with Doge & see how it goes,” Musk said in a tweet. Dogecoin, popular among retail investors, raced up … Read more
RIYADH: The cryptocurrency exchange company Binance has withdrawn its application for a crypto-licence in Singapore, Bloomberg has reported. The company will shut down its trading platform in the country by February 13, ending speculation about the city state becoming the global headquarters for Binance. The Singapore-based crypto exchange is to refocus its operations toward blockchain technology, Bloomberg … Read more
RIYADH: Softbank-funded 2TM, owner of the largest cryptocurrency exchange in Latin America, has launched a venture capital unit focusing on blockchain companies around the world, Arab News reported. Brazil-based 2TM, valued at roughly $2.2 billion after the latest $50 million fund-raise, is the holding company of Mercado Bitcoin, with 3.2 million customers as of October 2021. During … Read more
RIYADH: Zimbabwe’s Central Bank is exploring using its own digital currency instead of allowing cryptocurrency as legal tender, its Governor John Mangudya told Bloomberg. “As a central bank we don’t believe in cryptocurrencies,” Mangudya said in an interview on Monday. “We believe in central bank digital currency which is basically trying to say how do we … Read more
RIYADH: Bitcoin, the leading cryptocurrency, plunged around 30 per cent from the year’s high of $69,000 on November 10, Arab News reported. It; however, traded higher on Sunday, rising by 2.82 per cent to $48,972 at 5:14pm Riyadh time. Ether, the second most popular cryptocurrency, traded at $4,140, up 4.16 per cent, according to data from CoinDesk. … Read more
HO CHI MINH CITY – Vietnamese police have smashed a huge cryptocurrency ring worth around $3.8 billion, state media said Friday, as authorities battle rampant illegal gambling in the country. Fifty-nine people were detained in southern business hub Ho Chi Minh City, accused of luring players through social media to place bets online, according to the city … Read more
RIYADH: Meta, formerly known as Facebook, has updated the criteria for running ads about cryptocurrency on its platform, according to Bloomberg. The tech giant announced on Wednesday its decision to reverse a long-standing policy that prevented most cryptocurrency companies from running ads on its services. The move came after Meta’s marquee crypto-related effort had been downsized. … Read more
RIYADH: The Tourism Authority of Thailand is working with the country’s regulators to make it easier and more convenient for visitors to spend cryptocurrency in the country, Bloomberg reported. Thailand is laying the groundwork for becoming a positive crypto community with the aim of attracting cryptocurrency holders and promoting tourism in it. The country is also hoping … Read more
LAHORE: The Lahore High Court (LHC) on Friday sought a report from the federal government on the legal status of cryptocurrency in the country. The court wanted to know whether the State Bank of Pakistan (SBP) or Security Exchange Commission of Pakistan (SECP) has laid down any law, rules, regulations for regulating the digital currencies … Read more
SAN SALVADOR: The International Monetary Fund (IMF) on Monday warned El Salvador against using Bitcoin as an official tender given the risks associated with the cryptocurrency, a day after the country announced plans for the world’s first “Bitcoin City”. El Salvador, which has used the US dollar for two decades, became the first country in the … Read more
RIYADH: Bitcoin will emerge as a $100 trillion asset class and grow 100 times more than it is today, Michael Saylor, CEO of Microstrategy, said about the future outlook for Bitcoin in an interview with CNBC. “At the end of the decade, it will have flipped gold, and then it will flip monetary indexes, a little … Read more
RIYADH: The cryptocurrency market is witnessing sharp declines in the past few hours, CNBC Arabia reported. Bitcoin, the world’s largest cryptocurrency, fell by more than 5 per cent in the past 24 hours to trade near levels of $57,000, its lowest level since Oct. 13. The Ethereum currency also fell by about 7 per cent during the … Read more
PARIS: When Paris Saint-Germain signed Lionel Messi, the salary package included something previously unheard of for a player — a one-off payment, understood to be worth around one million euros ($1.15m), made in PSG ‘fan tokens’. It was the result of a partnership signed by the French giants in 2018 with Socios.com which sees fans … Read more
Crypto acceptance remains to gain energy in Switzerland as local financial regulators allowed more authority approvals for cryptocurrency investment tools. The Swiss Financial Market Supervisory Authority (FINMA) has accepted the Cryptocurrency Market Index Fund as the “first crypto fund according to Swiss law,” the authority legitimately publicized. The fund is introduced by Swiss asset manager … Read more
From Oct. 8, E-commerce hulk Alibaba will stop selling specialized mining equipment on its platforms. Alibaba stated its decision was in reply to the most recent People’s Bank of China (PBoC) policy circular on cryptocurrency trading as well as a 2017 circular. The notice, signed by some of China’s top financial regulators and issued, banned … Read more
As per Chinese media, at least 18 cryptocurrency-related platforms either publicized that they are leaving the Chinese market or restricted their websites. Cryptocurrency exchange BitMart, Trading information platform Feixiaohao, Cryptocurrency exchange Biki, and Trading information provider TradingView have been inaccessible in China or will end giving all services to China. At least another 11 firms … Read more
BEIJING: China’s central bank on Friday said all financial transactions involving cryptocurrencies are illegal, sounding the death knell for the digital trade in China after a crackdown on the volatile currencies. The global values of cryptocurrencies, including Bitcoin have massively fluctuated over the past year partly due to Chinese regulations, which have sought to prevent … Read more
The cryptocurrency market was active together with equities, a day after the Federal Reserve publicized monetary policy in the U.S. and that is about to become a lot snugger. Though BTC and ETH are trading 1% upper over the past 24 hours, alternative cryptocurrencies like Cardano, SOL, and LUNA are up between 6% and 25%. … Read more
