Today: Bitcoin extends tumble in further blow to volatile crypto boom

Bitcoin Price

Today: Bitcoin extends tumble in further blow to volatile crypto boom   Bitcoin resumed declines today Wednesday as the digital coin heads for its worst week since March last year, a drop that’s raised questions about the outlook for the cryptocurrency boom. Bitcoin fell as much as 6.8% to about $32,359 before paring some losses. The largest cryptocurrency whipsawed investors over the past few days, hitting a record near $42,000 on Jan. 8 and then tumbling to a low around $30,300. The price swings evoke memories of Bitcoin’s December 2017…

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Crypto market cap surpasses $1trn for first time

Bitcoin Price

Crypto market cap surpasses $1trn for first time   The total market value of all cryptocurrencies rose above $1 trillion for the first time on Thursday as Bitcoin surged to a record high, according to data by crypto coin trackers CoinMarketCap and CoinGecko. Bitcoin has jumped more than 900% to $38,655 on Thursday, from $3,850 in March, as governments increase speeding to blunt the economic impact of the coronavirus. This has raised fears about rising inflation and U.S. dollar debasement. The cryptocurrency is also gaining traction with more mainstream investors…

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What investors need to know about crypto-asset risks, by IOSCO

Bitcoin Price

What investors need to know about crypto-asset risks, by IOSCO   The Board of the International Organization of Securities Commissions has published a report that seeks to help regulators inform retail investors about the risks and characteristics of crypto-assets. Crypto-assets carry risks that retail investors may not fully understand, increasing skepticism and the chance of losses on investments in these assets. The IOSCO report titled Investor Education on CryptoAssets identifies an array of possible risks to investors, including such things as lack of market liquidity, volatility, partial or total loss…

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Bitcoin Miners Witness 11% Revenue Drop in September

Bitcoin Miners

As price rallies back to $10,515 $281 million KuCoin Theft Suspects Identified ________________________________________ Bitcoin miners generated an estimated $328 million in revenue in September, down 11% from August, according to Coin Metrics data analyzed by CoinDesk. The moderate decrease in revenue came as bitcoin (BTC) stumbled through September, closing the month down 8% after gaining over 25% through July and August. Revenue estimates assume miners sell their BTC immediately. Network fees brought in $26 million in September, or just over 8% of total revenue, down 2 percentage points from fees…

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Crypto assets get SEC’s nod as alternative investment outlets

sec crypto utility token

The Securities and Exchange Commission (SEC), Nigeria’s highest capital market regulatory authority, has said various virtual digital assets present investing public with alternative investment opportunities. The commission classified the virtual digital assets into Crypto Assets, utility tokens, security tokens and Derivatives and Collective Investment Funds of Crypto Assets, Security Tokens and Utility Tokens. In a statement setting the tone for investing in the assets, SEC said there is need to ensure that these offerings operate in a manner that is consistent with investor protection, the interest of the public, market integrity and…

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