CFTC Fines Stablecoin Issuer Tether and Crypto Exchange Bitfinex $42.5 Million

On Friday, October 15, 2021, the U.S. Commodity Futures Trading Commission (CFTC) announced that it had ordered the company Tether Holdings Limited and Ifinex Inc., the parent company of Bitfinex, to pay fines totaling $42.5 million. The CFTC accuses Tether of “making untrue or misleading statements and omissions of material fact in connection with the U.S. dollar tether token (USDT) stablecoin.” CFTC Issues Two Fines to Tether and Bitfinex, CFTC Expects ‘Honesty and Transparency in the Developing Digital Assets Marketplace’ The stablecoin issuer Tether and Ifinex have been charged by…

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Bitcoin And The Lightning Network: The Most Efficient Payment System In The World

The Lightning Network makes Bitcoin the most efficient payment system in the world. But, in basic terms, how does it work? Watch this guide on YouTube. We’re going to go over the Lightning Network: how it works, how it makes Bitcoin scalable and how it fits in with the larger Bitcoin network. But before we talk about the Lightning Network, we need to talk about Layer 1: Bitcoin’s blockchain. The blockchain is a public ledger that keeps a record of all of the transactions that people make with their bitcoin.…

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Bitcoin Price Smashes $61.7K High — Leading Crypto Asset Needs to Gain Over 5% to Reach ATH

The price of bitcoin has continued to push toward higher prices as the leading crypto asset has tapped a high of $61,749 per unit on Friday. The crypto asset came awfully close (around 5.3% away) from tapping the all-time price high reached six months ago on April 14. Bitcoin’s Bull Market Rampage Continues Bitcoin (BTC) has done phenomenally well during the last two weeks as October has been a good month for the leading crypto asset. On October 15, 2021, BTC tapped a high of $61,430 per unit. The crypto…

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MassMutual Bitcoin Investment Has Tripled In Dollar Value

The Massachusetts-based insurance company’s $100 million bitcoin purchase in December 2020 is now worth more than $300 million. MassMutual has more than tripled the dollar value of its bitcoin investment in under one year. The insurance company bought an undisclosed amount of BTC for $100,000,000 on December 10, 2020, when the bitcoin price was hovering around $18,500. The Massachusetts Mutual Life Insurance Company has more than tripled its bitcoin investment in under one year. The previous BTC/USD top before December 10 was $19,918, and at the time of writing, one…

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SEC Set To Allow Bitcoin Futures ETF Trading Next Week

Sources told CNBC that the Securities and Exchange Commission is set to allow the first Bitcoin futures ETF to go live in the U.S. Next week, the SEC is set to allow the trading of Invesco and or ProShares Bitcoin futures exchange-traded funds (ETFs) go live in what would be a first in the United States, according to CNBC. A source close to the matter, who wished to remain anonymous, told CNBC that the SEC is unlikely to block the two ETFs, which are not settled in actual BTC but…

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Coingecko Publishes Q3 Crypto Report — BTC Outperformed Every Major Asset Class, Altcoins Decouple

On Thursday, the crypto asset aggregation portal Coingecko published the firm’s 2021 third-quarter report which shows a number of different findings. According to the study, for the most part, the crypto economy recovered from the market downturn in May as the top 30 market caps grew by 31% in Q3. The report shows that altcoins continue to decouple (specifically those from alternative chains) and the leading stablecoin tether has been losing its share “as the preferred stablecoin.” 2021 Q3 Cryptocurrency Report Observes the Crypto Landscape and Bitcoin’s Third-Quarter Market Performance…

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Bitcoin, Bitcoiners And Citadels

So-called “toxic Bitcoin maximalism” is inspired by a desire for Bitcoiners to hold themselves accountable to the ideals of the network itself. “12 Rules For Life” Series, Essay Three The series continues. You can find part one here and part two here. Foreword The third chapter in Jordan Peterson’s “12 Rules For Life” is entitled, “Make Friends With People Who Want The Best For You.” This instantly reminded me of the Bitcoin community and the fundamental values that true Bitcoiners have in common, despite many in the broader tech, finance,…

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Jack Dorsey’s Square Doubles Its Money On Bitcoin Investment

Jack Dorsey’s Square has officially doubled its money on its Bitcoin Investment. The company’s $220,000,000 invested in Bitcoin is now worth over $470,000,000. Jack Dorsey’s Square has officially doubled its money on its Bitcoin investment. The company’s $220,000,000 invested in Bitcoin is now worth over $470,000,000. To date, Square holds approximately 8,027 bitcoin, acquired at an aggregate purchase price of $220,000,000 and an average price per bitcoin of $27,407, inclusive of fees and expenses. Note, that of other companies whose Bitcoin investments have recently doubled, namely MicroStrategy and Tesla, Square…

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Bitcoin Is Now World’s 8th Most Valuable Asset — BTC Now Targets Silver’s $1.31T Market Cap

The price of bitcoin had crossed the $60K zone at 1:30 a.m. (EST) early Friday morning. The leading crypto asset’s latest price jump has made it so bitcoin’s overall market valuation of $1.119 trillion has surpassed Facebook’s market capitalization. The digital asset is also nearing the entire net worth of all the silver in the world as bitcoin is 17.3% away from surpassing the precious metal’s overall capitalization. Bitcoin Surpasses Facebook’s Overall Worth, Needs to Gain More Than 17.33% to Exceed Silver Bitcoin is currently the eighth-most valuable asset in…

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Bitcoin Price Hit $60,000! New All Time High Inbound

Bitcoin surpasses $60,000 and looks poised to retake a new all-time high soon and pump to prices never seen before. Bitcoin is back at $60,000 and looks poised to retake a new all-time high of $65,000 in the near future. Starting off the year in the low $30,000s, we watched bitcoin put doubters in disbelief as it ran all the way up to $64,000 later on in April. Since then we’ve seen a pretty decent decline that really put the class of 2020/21 Bitcoiners’ resilience to the test. Many of…

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