Russia’s Biggest Bank is Buying 5000 Blockchain ATMs That Can Mine Crypto

Russia’s biggest bank is spending more than $100 million on 5,000 blockchain enabled ATMs … that are capable of mining cryptocurrency. Russia’s largest bank, Sberbank, has called for tenders to provide 4,917 ATMs with a built-in graphic card capable of supporting “blockchain operations”. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency. Sberbank is Russia’s oldest and largest bank and holds almost 44% of all personal deposits in the country. It operates 14,200 branches and 77,000 ATMs across…

Read More

Bitcoin Retakes $9K — 3 Technical Reasons There’s Still Room to Run

The price of Bitcoin surges above $9,000 ahead of a Goldman Sachs client call about gold and BTC. The price of Bitcoin (BTC) surged above $9,000, demonstrating a decent recovery in the last 24 hours. Market data shows a further upsurge to the $9,300 to $9,400 range is likely in the near-term. Three key reasons increase the probability of a minor rally: liquidation of 25x to 50x shorts are at $9,300, whales using the Goldman Sachs narrative and low funding rates in the futures market. Liquidation price of 25x to…

Read More

Bitcoin Suisse: Users Can Now Trade Gold Against Bitcoin and Ethereum

Swiss crypto financial firm Bitcoin Suisse has added gold, silver, and platinum to its platform, allowing users to trade the precious metals against both bitcoin (BTC) and ether (ETH), as well as five other major fiat currencies. The precious metal trades are available for 24/7 trading with immediate cash settlement, the company announced on May 26. The offering is not physically settled, it said, and claims are limited only to crypto and fiat. Users can invest a minimum of 100 Swiss francs ($103) without custody fees for holdings up to…

Read More

FinCEN Director Blanco Concerned About Bad Actors Hijacking Crypto

The head of the agency that enforces the Bank Secrecy Act and KYC requirements in the U.S. says the agency aims to help crypto innovate responsibly. In a May 27 interview sponsored by Chainalysis, Director of the United States Financial Crimes Enforcement Network (FinCEN) Kenneth Blanco was adamant that the regulator is not the enemy. “This technology belongs to all of us” FinCEN is the governing body that enforces the Bank Secrecy Act in the U.S., requiring financial institutions to provide know-your-customer (KYC) information. It’s a contentious topic within crypto,…

Read More

$13B Custodian Launches Retirement Account Supporting Bitcoin

Kingdom Trust, a regulated custodian managing over $13 billion in assets, has launched a retirement account supporting both Bitcoin and legacy assets. Kingdom Trust, a South Dakota-based financial custodian that manages more than $13 billion in assets, has launched a retirement account that supports legacy, alternative, and crypto assets. The launch of the account “Choice,” follows the acquisition of Choice Holdings — a digital asset-focused retirement account that was built by CoinShare’s veterans. Kingdom Trust already backs more than 100,000 retirement accounts and custodies over 20,000 assets including Bitcoin (BTC).…

Read More

Kleiman Lawyers Seize on New Evidence of Craig Wright’s ‘Fabrication’

The Kleiman estate’s legal team has seized upon this week’s revelation that 145 Bitcoin addresses claimed by Craig Wright are controlled by someone else. The Kleiman estate’s legal team has entered into evidence this week’s revelation that 145 addresses claimed by Craig Wright are not controlled by him. They filed a notice of supplementary evidence supporting their motion for sanctions against Wright earlier this morning, adding to their laundry list of complaints against the Satoshi-claimant. They said the new evidence further proves the “CSW Filed List” is not a list…

Read More

Bitcoin May Be the Solution to Africa’s Broken Financial System

According to a recent report, Africa’s lack of traditional financial infrastructure makes the region fertile ground for cryptocurrency adoption. A recent report suggests that the lack of traditional financial infrastructure makes Africa a place where cryptocurrency adoption is likely. The report — shared with Cointelegraph by a Luno representative on May 27 — sheds light on Africa’s financial infrastructure and the role that cryptocurrencies play in it. The author of the research, which was jointly conducted by market analysis firm Arcane Research and crypto exchange, Luno, wrote that the financial…

Read More

Ethereum Network Use Hits a New All-Time High — Will ETH Price Follow?

Interaction with the Ethereum network recently hit an all-time high but the increase in gas usage may pose problems for the cryptocurrency network. According to a recent report by Delphi Digital, the total gas used on the Ethereum blockchain has reached an all time high and it seems like this the figure is set to increase. Gas is the measure used to price fees on the Ethereum blockchain, and the overall use of gas on the network has been rising since the beginning of 2020.  Gas Used vs. Max Gas…

Read More

Bitfinex is Constantly Printing More Tether, None Of It Has Ever Been Burned

A report indicates that no Ethereum-based Tethers have ever been burned, though new ones are constantly being printed. A report from Flipside Crypto indicates that no Ethereum (ETH)-based Tether (USDT) tokens have ever been burned. The report has also come to a conclusion that the stablecoin is mostly used by arbitrageurs on centralized exchanges. The Flow of USDT Within A Crypto Ecosystem. Source:  Flipside Crypto. Binance, Bitfinex & Huobi The report states that Tether has thus far failed to fulfill its aspiration of providing stability to the DeFi space as…

Read More

Trump Threatens to Close Down Social Media Platforms After Twitter Tampers With His Tweets

A row with Twitter has provoked U.S. President Donald Trump to threaten to close down social media platforms. This follows Twitter tampering with Trump’s tweets to alert people to fact check his claims. Trump is further outraged by Twitter’s use of “fake news” sources to fact check his tweets. Meanwhile, some people are happy with Twitter’s action. Trump Warns Social Media Platforms: Clean Up Your Act or Be Shut Down U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies after Twitter added a warning…

Read More