Recent News

Buffett Buys Gold Not Stocks!

REUTERS FRI AUG 14, 2020 / 4:35 PM EDT Berkshire reduces Wells Fargo, JPMorgan, Goldman stakes; adds Barrick Gold   (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said on Friday it has reduced its investments in some of the largest U.S. banks, lowering its stakes in Wells Fargo & Co and JPMorgan Chase & Co and eliminating a stake in Goldman Sachs Group Inc In a regulatory filing detailing its U.S.-listed investments as of March 31, Berkshire also disclosed a new 20.9 million share investment in Toronto-based Barrick Gold Corp,…

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Gold to Stay Above $2,000

FX Empire Gold Prices Expected to Stay Above $2,000, on Growing Global Geopolitical Uncertainty Adesina Olumide August 9, 2020, 12:09 AM The precious metal prices, however, remained above $2,000 a critical support level, showing the pullback in prices recorded recently might be for the short term. Gold traders are still relatively bullish on growing global geopolitical uncertainty on what will follow in the months ahead. President Trump is likely to increase more pressure on the Chinese ahead of the US Presidential election scheduled to hold in November. China presently has…

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Investors Move 10% of Their Gold From Hong Kong Amid Financial Censorship Fears

Hong Kong investors are moving their gold offshore as China’s new national security law prompts fears of financial censorship. Some 10% of private holdings have been moved to safer jurisdictions such as Singapore and Switzerland since the beginning of protests in Hong Kong last year. In a recent interview, Joshua Rotbart, head of Hong Kong-based gold dealer and storage provider J Rotbart & Co, said the new legislation has revived the bullion flight. “Many clients now perceive Hong Kong as riskier than other jurisdictions,” Rotbart said. The development comes as…

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Nasdaq-Listed Company Sued for Backing $2 Billion Loans With 83 Tons of Fake Gold

The Nasdaq-listed company that allegedly used 83 tons of fake gold bars as collateral to secure loans worth about $2 billion from multiple financial institutions in China is now in default and facing several class-action lawsuits. $2 Billion Fake Gold Scheme Unravels The gold industry was recently shaken when it was discovered that a U.S. publicly-traded company was allegedly using 83 tons of fake gold bars to secure loans worth $2 billion in China. Kingold Jewelry Inc. is based in Wuhan, China, but it is listed on Nasdaq in the…

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Germany Begins Closing Down All Bitcoin Unlicensed ATMs

Germany’s Federal Financial Supervisory Authority (BaFin), the country’s top financial regulator responsible for regulating crypto service providers, has begun actively closing down unauthorized bitcoin ATMs, a BaFin spokesperson has confirmed to news.Bitcoin.com. All Unauthorized Bitcoin ATMs to Shut Down German financial regulator BaFin has begun actively closing down all unlicensed bitcoin ATMs in the country. This followed Germany’s new regulation that went into effect in January, requiring crypto service providers to obtain authorization from BaFin. A spokesperson for BaFin told news.Bitcoin.com: Currently, BaFin is taking action to shut down all…

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Goldman Sachs Cryptocurrency: Possible Collaboration With JPMorgan and Facebook

Goldman Sachs is considering creating its own cryptocurrency. Having recently appointed a new head of digital assets, the company indicated a possible collaboration with other companies, including JPMorgan and Facebook. JPMorgan has created the JPM coin and Facebook has proposed the Libra cryptocurrency project. Goldman Sachs’ Cryptocurrency Plan Global investment bank Goldman Sachs has recently appointed a new head of digital assets, Mathew McDermott, a managing director who ran the investment bank’s internal funding operations. He has now revealed that Goldman is exploring creating its own cryptocurrency, CNBC reported on…

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Square’s Cash App Bitcoin Revenue Surges 600% to $875 Million in Q2, Profit Up 711%

Square Inc. has reported a significant bitcoin revenue increase in the second quarter. Its Cash App generated $875 million in revenue, a 600% increase from the previous year. In addition, Square’s bitcoin gross profit jumped 711%. Square Cash App’s Bitcoin Revenue Square released its performance report for Q2 2020 on Tuesday. The company’s net revenue, including bitcoin revenue, was $1.92 billion, an increase of 64% year over year. Its gross profit, including from its bitcoin business, rose 28% year over year to $597 million. Cash App, Square’s popular payment service,…

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How I Missed The Early Days Of Bitcoin

This is an opinion editorial by Enza Coin, a Bitcoin-focused investor and content creator. The other day I was looking through my closet and found a pair of my old FitFlops. Does anyone remember these? FitFlops sold for some $100 and promised to work your legs into shape just by walking. Seeing them made me recall the time I spent traveling across Asia from around 2008 onward. In those years and into the early 2010s, I was busy managing a company based in Hong Kong while accompanying my then boyfriend/fiancé…

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Argentina Ready To Support Bitcoin With Gathering And Event In Buenos Aires

Argentina’s Bitcoin community is gearing up for a significant event this Saturday, June 10, as they plan to assemble a giant human Bitcoin symbol (₿) at the Campo Argentino de Polo in the city of Buenos Aires. The gathering, organized by NGO Bitcoin Argentina, marks the organization’s ten-year anniversary and aims to promote the advantages of Bitcoin and the blockchain ecosystem. With the support of numerous companies and organizations in the sector, thousands of participants are expected to send a strong message about monetary and financial freedom. Jimena Vallone, the…

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WikiLeaks Founder Julian Assange Facing Extradition After Losing Challenge

Julian Assange, the founder of WikiLeaks, is facing extradition from Britain to the United States after losing a challenge that would prevent that. Assange, who is wanted on 18 charges related to the release of confidential U.S. military records and diplomatic cables, will, however, renew his appeal next week according to a report by Reuters. The British High Court ruled that Assange had no legal grounds to challenge the extradition decision. Previously, a British judge ruled against Assange’s extradition, citing concerns about his mental health and the risk of suicide…

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‘Bitcoin And Nothing Else’: Why Former PayPal, Meta Executive David Marcus Is Building On The Lightning Network

For nearly 25 years, virtually as long as online payments have been possible, David Marcus has been trying to figure out how to perfect them. In the mid-’90s he founded a telecom company that offered internet access along with telephone service. In 2000, he launched Echovox, which he spun out into Zong in 2008 — a mobile platform that let users pay for things online directly through their mobile phone bills. When this venture was acquired by PayPal in 2011, Marcus joined the digital payments giant, becoming its president the…

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If We’re Not Careful, The AI Revolution Could Become The ‘Great Homogenization’

This is an opinion editorial by Aleksandar Svetski, founder of The Bitcoin Times and The Amber App and author of “The UnCommunist Manifesto,” “Authentic Intelligence” and the upcoming “Bushido Of Bitcoin.” The world is changing before our very eyes. Artificial intelligence (AI) is a paradigm-shifting technological breakthrough, but probably not for the reasons you might think or imagine. You’ve probably heard something along the lines of, “Artificial general intelligence (AGI) is around the corner,” or, “Now that language is solved, the next step is conscious AI.” Well… I’m here to…

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Bitcoin Is Becoming A Lifeline For Political Dissidents In Myanmar

This is an opinion editorial by Win Ko Ko Aung, a McCourt Scholar for Georgetown University’s Data Science for Public Policy program and a survivor of Myanmar’s 2021 military coup. As the 2024 U.S. Presidential election campaign kicked off, one of the candidates, Robert F. Kennedy Jr., took to Twitter to express his support for Bitcoin. In a tweet, he stated that “Bitcoin has been a lifesaver for people’s movements around the world, particularly in Burma.” Myanmar, also known as Burma, is a country located in Southeast Asia, bordering China,…

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BitGo Announces Preliminary Deal To Acquire Prime Trust Custody Firm

BitGo Holdings, Inc., has announced its intention to acquire Prime Core Technologies, Inc., the parent company of Prime Trust. According to a blog posted by BitGo, the acquisition aims to bring business continuity, long-term stability and regulated, secure services to Prime Trust clients. Prime Trust expressed excitement about the potential partnership. Jor Law, Prime Trust’s Interim CEO and President, said he believes that the combination of Prime Trust and BitGo will be a game-changer for the industry, stating, “No other company will have the breadth of product and services nor…

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SatoshiLabs Introduces Vexl Foundation With KYC-Free P2P Bitcoin App And Financial Tyranny Index

SatoshiLabs, the creator of the Trezor hardware wallet, has announced the launch of the Vexl Foundation at the BTC Prague conference. A press release shared with Bitcoin Magazine said the foundation aims to restore financial power to individuals and promote personal and financial freedoms. It takes a critical stance against KYC practices and, according to the release, believes that technology should empower individuals rather than control them.  The Vexl Foundation has also introduced the Financial Tyranny Index (FTI), which measures the extent of statist interventions in the financial space. Initial…

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Fedi Hosting First Ever Pop-Up Federation At BTC Prague

BTC Prague and Fedi are teaming up to launch the first-ever “Pop-Up Federation” on the OS, providing attendees of the BTC Prague conference with a unique opportunity to test Fedi Alpha, the builder-focused early release of the federated operating system.  The Prague Pop-Up Federation will offer exclusive features to invitees, including the ability to broadcast messages on chat, use sats (satoshis) and access Sites sessions with event information. The event, only available during the conference, aims to turn it into a proving ground for Fedi Alpha, with attendees serving as…

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ZEBEDEE Announces Alpha For New Social Layer Powered By Nostr

ZEBEDEE, a company known for its Lightning-powered ecosystem, has unveiled the alpha version of its latest app upgrade, Social. According to a press release shared with Bitcoin Magazine, this groundbreaking social layer introduces a new paradigm for social media, where engagement and content are transformed into monetary value. Creators on the platform will retain an impressive 99% of their earnings according to the release, providing what ZEBEDEE describes as a fair and value-driven experience. The ZBD app, powered by Nostr, a decentralized protocol with over 2 million users created at…

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