Author: Donald Munn

PayPal announced on Tuesday that its users can now move funds from the platform to external wallets in Bitcoin and Ethereum. PayPal implements the transfer of Bitcoin and Ethereum The fintech giant opens the door to Bitcoin and Ethereum transfers to external wallets PayPal notified its users of the long-awaited new feature with the following announcement: “We are thrilled to announce that starting today, PayPal supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges. This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of…

Yesterday, the US Senate Homeland Security and Governmental Affairs Committee (HSGAC) held a hearing, the topic of which was crypto payments for ransomware attacks.  Record crypto transactions for ransomware attacks During the hearing, the committee heard from a panel of industry experts, including Chainalysis’ Chief Cyber Threat Intelligence Officer Jackie Koven.  Koven reported that Chainalysis had identified as much as $712 million paid to ransomware attackers in 2021, an all-time high.  74% of this money allegedly went to Russian attackers, or those with connections to Russia.  The average payment was $121,000, with the median at $6,000.  Furthermore, he reported that…

The Central Bank of Ethiopia has issued a public statement warning its citizens that Bitcoin transactions are illegal in the country. Ethiopia speaks out against Bitcoin exchanges According to the Ethiopian Central Bank, trading Bitcoin in the country is illegal In recent days, the Ethiopian Central Bank reiterated in a public statement that Bitcoin transactions are illegal, while also warning of severe penalties for offenders.   In a note, the NBE stated that: “Ethiopia’s national currency is the Ethiopian Birr, with any financial transaction in Ethiopia to be paid in Birrs, according to the law”. The announcement was picked up by…

In Brazil, the national CBDC, the Digital Real, will be used as collateral and backing for stablecoins launched by the country’s other banks. This was stated by the President of the Central Bank of Brazil, Roberto Campos Neto. Brazil: the Digital Real as wholesale stablecoin The Brazilian CBDC will also function as collateral for the issuance of stablecoins According to reports, the Digital Real, Brazil’s CBDC, will be used as collateral and backing for other stablecoins launched by the country’s banks.  This was said by the President of the Central Bank of Brazil, Roberto Campos Neto, during Valor’s Crypto Summit…

Omens of a cryptocurrency debacle are nothing new, and Paul Krugman, Nobel laureate in economics, reiterates this.  Paul Krugman predicts a big crash in the cryptocurrency sector According to Paul Krugman, cryptocurrencies have no solid foundation and are ready to explode Over the years there has been much criticism of this asset, first because of the novelty it represented with the advent of blockchain and Bitcoin, which marked too sharp a departure from the past, generating suspicion. Then, as time went by, the market reached a capitalization of $3 billion and criticism became more and more frequent, leading to fears…

SPONSORED POST* When the market enters a downturn, it can be tempting to cut your losses and run. However, this could mean missing out on some of the potentially highly lucrative opportunities presented by a bear market.  This is not the first time that crypto prices have slumped. Crypto is an incredibly volatile asset class, and history has shown that the most viable coins experience dips but see an overall upward trajectory over the long term.  Here are the top 5 coins to buy while prices are depressed, based on the likelihood that as soon as the market recovers, they…

The bipartisan crypto bill by Senators Cynthia Lummis and Kirsten Gillibrand was unveiled in the US yesterday.  Today, I’m introducing the Responsible Financial Innovation Act alongside @SenGillibrand. The United States is the global financial leader, and it’s absolutely critical the U.S. plays a leading role in this new frontier. https://t.co/PziuTwn8Wd — Senator Cynthia Lummis (@SenLummis) June 7, 2022 Senators Lummis and Gillibrand present new bill for the crypto market The bill addressed in particular the jurisdiction of the CFTC and the SEC, the regulation of stablecoins, the banking sector, the tax treatment of digital assets, and inter-agency coordination. The aim…

The UK looks to begin testing Blockchain for traditional markets next year, with the aim of the country becoming a “crypto hub”.  UK tests Blockchain to become a global “crypto hub” According to reports, Gwyneth Nurse, director general of the Ministry for Financial Services, said that the UK will test Blockchain technology for traditional markets next year, so as to become a global crypto hub.  In essence, Nurse described how the underlying technology of cryptocurrencies will soon be tested in the country for the trading and settlement of shares and bonds.  Blockchain in the UK (and beyond) has become a…

Elon Musk, CEO of Tesla and beyond, is back to the drawing board, and this time he is doing so by touching on issues that are very sensitive to the population, employment and productivity, and giving a stark view of his point of view.  According to Elon Musk, Tesla needs a 10% reduction in its workforce Tesla is about to cut its staff by 10% Musk, who has always held the value of his employees in high regard, even with lavish production bonuses and benefits, this time around, despite the best quarter in Tesla‘s history, had to revise his plans…

Sheryl Sandberg, the Chief Operating Officer of Meta, who helped turn Facebook into a social networking giant, resigned from her position on Thursday. On Thursday, Sheryl Sandberg officially resigned from her position at Meta Sheryl Sandberg resigns from Meta Rumours had already been circulating for a few weeks, but the resignation of Meta‘s manager Sheryl Sandberg, 52, a Harvard graduate with a personal fortune estimated at around $1.5 billion, has left many speechless. She had joined the company, in which she still holds a seat on the board of directors, in 2008, when Facebook was not the planetary giant it…