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Category Archive : Crypto News

Bitcoin shoots past $40,000 for the first time ever

Bitcoin’s price has exceeded the $40,000 mark for the first time.

As of the time of writing, bitcoin is changing hands at roughly $38,800 on Coinbase, per price data from the exchange. Coinbase saw a high above $40,400.

The movement above $40,000 — and the drop from that level — was similarly reflected by data published on TradingView:

On Wednesday, the collective market capitalization for all cryptocurrencies exceeded $1 trillion for the first time, according to data published by CoinGecko.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Author: Michael McSweeney

Coinbase Acquires Routefire to Beef Up Institutional Bitcoin Offering

Leading U.S. crypto exchange Coinbase has acquired trade execution startup Routefire. The terms of the deal were not disclosed.

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Author: Zack Seward

ETH’s market capitalization hits a new all-time high

Ethereum’s market capitalization broke its previous all-time high on Thursday, according to market data from TradingView.

The market capitalization, which tracks the total value of all tokens in circulation, reached $149.77 billion. The price of ETH is currently at $1,270 with a market cap of roughly $145.1 billion.

The previous all-time high market cap reached $145.7 billion in January 2018. The latest development came less than a day after the global market capitalization of all cryptocurrencies hit $1 trillion.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Author: Aislinn Keely

Blockchain Bites: Sustainability and Uncertainty as Crypto Crosses $1T Benchmark

Amid political chaos and global uncertainty, one bitcoin is now worth more than $39,000 as the value of all cryptos passes $1 trillion.

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Author: Daniel Kuhn

Ignoring Outages, Coinbase Futures Set Record Highs as Bitcoin Rally Continues

CBSE futures on FTX hit $311 Thursday afternoon.

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Author: Zack Voell

65K Comments and Counting: Crypto Industry Fights ‘Arbitrary’ Treasury Rule

The crypto industry says a proposed rule to collect personal data from private wallet transactions is being rushed, might be challenged in court and could be difficult to implement.

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Author: Nikhilesh De

Bitcoin News Roundup for Jan. 7, 2021

With the price of bitcoin up another $2K and the cryptocurrency sector now valued at more than a trillion dollars, CoinDesk’s Market’s Daily is back with the latest crypto news roundup.

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Author: Adam B. Levine

Coinbase Suffers ‘Connectivity Issues’ Again as Bitcoin Hits Another Record

Leading U.S.-based cryptocurrency exchange Coinbase is suffering connectivity issues for the second consecutive day amid bitcoin‘s parabolic price rally. The story is developing and will be updated as more information is available.

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Author: Zack Voell

Bank of England governor on Facebook-backed Diem: ‘Where’s the business model?’

Andrew Bailey, governor of the Bank of England, has publicly questioned the business model of stablecoin project Diem.

During questioning from MPs as part of a Treasury Committee panel on January 6, Bailey was asked by Conservative MP Steve Baker about privacy concerns relating to central bank digital currencies, or digital currencies that are backed in some fashion by central bank reserves. Bailey answered by turning the focus to Diem.

“One of the things that’s obviously been doing the rounds in the last year or so is this proposal that was called Libra, it’s now called Diem, which has been associated with Facebook,” he said, adding:

“And that’s caused quite a few reactions obviously. But one of the issues in that of course is where’s the business model in this thing? And is it actually in the privacy of information, in terms of access to information? Which would not be central banks of course, this would be private sector access to information.”

The proposed stablecoin, formerly known as Libra and initially bootstrapped by social media giant Facebook, was rebranded to Diem in December, a name the Diem Association’s chief executive Stuart Levey said the move signaled the project’s “growing maturity and independence”.

It is not the first time Bailey has appeared to pour cold water on Diem’s designs. In November, speaking as part of a European Central Bank panel discussion, the Bank of England governor said, “the bar is set very high for private stablecoins, and I don’t think they have met that bar”.

Earlier in the Treasury Committee hearing on January 6, Anil Kashyap, external member of the Financial Policy Committee, which monitors systemic risk to the U.K. financial system, said the Bank of England is planning to publish a discussion paper in March which will lay out the central bank’s thinking on CBDCs.  

“I think our March paper hopefully will put us in a leadership position vis-à-vis lots of other countries,” he said.

Kashyap also said he doesn’t think it is inevitable that the emergence of retail digital currencies, issued and backed by central banks, will spell the demise of private banking – which was another area of questioning. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Author: Ryan Weeks

Crypto Investment Firm Grayscale Names New CEO, Plans to Double Staff in 2021

Grayscale’s managing director, Michael Sonnenshein, has now been appointed CEO.

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Author: Tanzeel Akhtar


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