Page 13 - Cryptocurrencies

Explainer: What are meme coins and should you add them in your portfolio?

Started as a humorous, satirical take on the internet and often lacking in any real underlying value, these coins have gained significant popularity

Bankrupt crypto lender Genesis to pay $21 million to settle SEC charges

The deal resolves January 2023 charges the SEC filed against Genesis and Gemini Trust Company LLC over their joint crypto lending program

Bitcoin above $71,000 as demand frenzy intensifies, hits new record high

Britain's financial watchdog on Monday became the latest regulator to pave the way for digital asset trading products after

He should get 6 years in jail, pay back nothing: Sam Bankman's lawyer

Attorneys for the 31-year-old former crypto mogul made their recommendation to US District Judge Lewis A. Kaplan in a 98-page memo late Tuesday ahead of his March 28 sentencing

Bitcoin tops $57,000 for 1st time in over 2 years, Ethereum crosses $3,200

Since the start of 2024, Bitcoin has gained 33 per cent, primarily due to the high demand of its recently launched ETFs

Grayscale's Bitcoin ETF exodus reaches $7.4 bn in first 30 trading days

That stands in contrast to the other nine freshly launched spot Bitcoin ETFs, all of which are sitting on net inflows since trading began

Bitcoin tops $53,000 to reach highest in more than two years: Report

It last traded at this level in December 2021, and reached an all-time high of almost $59,000 the prior month

Crypto currencies have no underlying value: RBI exec director Vasudevan

Crypto currencies cannot be referred to as "currencies" as they have no underlying value, a central bank official said. The Reserve Bank of India (RBI) has been critical of new-age currencies like bitcoins, saying they pose systemic risk to the financial systems. "Crypto currencies cannot be called currencies as they don't have any underlying value," P Vasudevan, an executive director at the RBI, said during a panel discussion organised by IIM-Kozhikode here. Ultimately it is a call that the government has to take on how to tackle crypto currencies, the official said. Currently, bitcoins have no legal backing in India and investors have to pay a tax on the income earned by trading in them. In the backdrop of the action against Paytm Payments Bank and curbs imposed on some international card providers, Vasudevan said self-regulation can protect the fintech sector better. He also said that mechanisms could be looked at to highlight bad behaviour.

Bitcoin surges to $50,000 for the first time since 2021 on ETF demand

Aside from ETF inflows, sentiment toward Bitcoin is "typically positive" during the Lunar New Year holidays that are currently underway in Asia, Fundstrat Global Advisors wrote in a note

Bitcoin Surges to $50,000 for the First Time Since 2021 on ETF Demand

The original cryptocurrency has tripled in value since the start of last year, climbing back from a 64% plunge in 2022

Crypto wrap: Euphoria around Bitcoin ETFs continues to help market rally

The price of Bitcoin has been going up as the date of next of halving, April 19, approaches

Bitcoin approaches $45,000 with US spot ETFs showing steady inflows

The largest cryptocurrency rose as much as 1.6% to $44,872 on Thursday. Bitcoin last traded above $45,000 on Jan. 12, the day after the ETFs began trading

Crypto exchange FTX abandons efforts to restart its crypto exchange

FTX has been negotiating for months with potential bidders and investors, but none were willing to put in enough money to rebuild the FTX exchange

Crypto exchange FTX expects to repay customers in full: Bankruptcy lawyer

Restructuring advisers will need to examine all of the millions of claims that have been filed against FTX to weed out those that are not legitimate, lawyer Andrew Dietderich said

Bitcoin slips back toward $40,000 mark as ETF excitement simmers down

The world's largest virtual token declined as much as 3.4% by 7.30 a.m. in New York on Monday, hitting a low of $40,352 - just shy of its lowest point of 2024 recorded on Friday

Yet to finalise mechanism for regulating cryptocurrencies: Centre to SC

The Centre has told the Supreme Court it is yet to take a decision on a mechanism to regulate cryptocurrencies and effectively investigate related offences. A bench of justices Surya Kant and KV Viswanathan was told by Additional Solicitor General Vikramjit Banerjee, appearing for the Centre, that the issues related to the digital currency are continuously evolving and the government is deliberating on the mechanism to regulate the cryptocurrencies. He sought time to file an affidavit by the next date of hearing in the case giving updated position on the mechanism. "So far as the stance of the Union of India with reference to the matters of cryptocurrency arising in different states is concerned, the Additional Solicitor General of India seeks and is granted four weeks' time to file an appropriate affidavit," the bench ordered on Friday. During the hearing, Justice Kant said the court only wants that there are appropriate safeguards to protect the common man from frauds and misuse

TMS Ep610: Crypto fillip, snowless winter, PSU stocks, Bitcoin Spot ETF

Will Binance crackdown offer a fillip to Indian crypto exchanges? Why are Indian hills facing a snowless winter? Will rally in PSU stocks run out of steam? What is the Bitcoin Spot ETF? Answers here

Consider regulatory sandbox approach to deal with crypto issues: GTRI

India should consider a regulatory sandbox approach to deal with issues related to crypto products and services, economic think tank GTRI said in its report on Sunday. Regulatory sandbox usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain relaxations for the limited purpose of the testing. The Global Trade Research Initiative (GTRI) said that in the light of crypto's acceptance in the regular financial system in the US, it remains to be seen how India's crypto policy evolves in coming months. With the new US action, with ramifications on global capital flows, price of gold, foreign trade, it may not be possible to live with no regulation, it said. "India may consider adopting regulatory sandbox approaches, allowing for controlled testing of innovative crypto-related products and services. It may need to balance innovation with risk management and adapt advancements in blockchain

Binance loses India traders to local companies it recently dominated

WazirX and Mudrex estimated that roughly 70% of their fresh inflows came from Binance, while CoinDCX put the figure at around 40%

Bitcoin at 21-month-high as US SEC approves Bitcoin ETF from heavyweights

After the announcement, Bitcoin briefly touched $47,600, the highest since December 2021, before cooling down to $46,600 for the first time since April 2022