Crypto Account Manager

Tesla’s latest filing with the U.S. Securities and Exchange Commission (SEC) shows that the fair market value of the company’s bitcoin holdings was $191 million at the end of 2022. In addition, billionaire Elon Musk’s electric car company recorded $204 million of impairment losses resulting from changes in the prices of bitcoin. Tesla’s Digital Assets and Its Bitcoin’s Fair Value Elon Musk’s electric car company, Tesla (Nasdaq: TSLA), filed its annual report for the year ended Dec. 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on Monday. The filing shows that the fair market value of Tesla’s BTC holdings was $191 million at the end of 2022 while their carrying value was $184 million, as Bitcoin.com News previously reported . “As of December 31, 2022, and 2021, the carrying value of our digital assets held was $184 million and $1.26 billion, which reflects cumulative impairments of $204 million and $101 million, each period, respectively,” the company detailed, e...

Asset management firm Devere Group says that 82% of millionaires surveyed have asked their financial advisors about adding cryptocurrencies, such as bitcoin, to their portfolios despite the crypto winter. “Wealthy investors understand that digital currencies are the future of money, and they don’t want to be left in the past,” the firm’s chief executive said. Millionaires to Capitalize in Forthcoming Crypto Bull Run, Devere Says Devere Group, a global financial advisory and asset management firm with $12 billion in assets under management (AUM) worldwide, published the results of its crypto survey Monday. Devere found that among its millionaire clients with between $1 million and $5 million of investable assets, 82% have sought advice about investing in cryptocurrencies. Without providing additional details, the asset management firm wrote: Eight out of 10 high net worth (HNW) individuals have asked their financial advisers about including cryptocurrencies, such as bitcoin, into t...

During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S. dollar. Meanwhile, several alternative cryptocurrencies saw even greater increases in value, with metaverse tokens like Decentraland’s MANA and The Sandbox’s SAND rising 92-150% against the greenback. Metaverse Crypto Assets Outshine Bitcoin and Ethereum Metaverse crypto assets have outperformed both bitcoin (BTC) and ethereum (ETH) , the leading crypto asset and top smart contract token, respectively. In the past month, Decentraland’s MANA token has been the top performer, rising 150% against the U.S. dollar. Over the last two weeks, MANA climbed 7.3%, and in the past seven days, it rose 2.9%. On January 31, 2023, a single MANA was trading for $0.716 to $0.755 per unit. The Sandbox’s SAND metaverse token has increased 92% in the past 30 days and has risen 5% in the last two weeks. However, despite the 30-day increase, seven-day metrics show...

Seven days ago, finder.com, a product comparison website, published a forecast report based on predictions from several crypto and fintech experts, predicting bitcoin’s year-end price for 2023. Following the bitcoin price prediction report, Finder released another survey focused on ethereum, the second-largest crypto asset in terms of market capitalization. Finder specialists believe ethereum will reach a peak of $2,474 per token this year and end the year at $2,184 per unit. 24% of Panelists Believe Ethereum Will Surpass Bitcoin by 2025, Finder Survey Shows This week, finder.com, a product comparison website, published a report that surveyed 56 fintech and cryptocurrency specialists to gauge their predictions for ethereum ( ETH ) prices this year. ETH experienced a challenging year in 2022, similar to most digital currencies in the crypto economy, but prices have picked up in the first month of 2023. Thirty-day statistics show ETH has risen more than 32% against the U.S. dollar ...

The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan originations backed by mining equipment. Bankprov’s Portfolio of Cryptocurrency Collateralized Loans Decreased by 65% Bankprov disclosed that it holds approximately $41.2 million in cryptocurrency-collateralized loans, with about $26.7 million of the debt backed by crypto-mining equipment. Collateralized loans secured by application-specific integrated circuit (ASIC) mining rigs became a popular investment vehicle in 2021, but the crypto winter resulted in significant pressure on the industry. By the end of June 2022, Luxor executive Ethan Vera estimated that about $4 billion in loans backed by mining machines we...

Dogecoin climbed to an eight-week high on Jan. 31, as prices broke out of a key resistance level on Tuesday. The meme coin surged ahead following the release of the latest consumer confidence report in the United States. Shiba inu also moved higher, rebounding from losses to start the week. Dogecoin (DOGE) Dogecoin (DOGE) raced higher on Tuesday, as the meme coin broke out of a key resistance level. Following a low of $0.08578 to start the week, DOGE/USD rose to an intraday high of $0.095 earlier today. As a result of the surge, dogecoin rose to its strongest point since December 11, when prices were at a high of $0.0972. Since the move, earlier gains have somewhat eased, as the 14-day relative strength index (RSI) collided with a ceiling of its own. As of writing, the index is tracking at 65.03, which is marginally above a resistance level at 65.00. Providing bulls are able to maintain current momentum, their next target will likely be $0.099. Shiba Inu (SHIB) Another notabl...

Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way in which Bitcoin’s blockchain should be used, and how this new use case will affect bitcoin nodes and fees in the future. Ordinals Enable Bitcoin NFTs Courtesy of Taproot A newfound use case for the Bitcoin chain is now being tested by individuals that have found a way of getting content directly to the blockchain. The project, called Ordinals , and launched just a few days ago, has enabled anyone to create Bitcoin NFTs (called inscriptions) as part of its functionality. This opportunity was inadvertently opened by the Taproot upgrade that the network underwent in November, which extended the length of Bitcoin transactions to almost the whole size of a block. This has been key for what’s c...

Russian crypto traders have been looking to obtain unrestricted accounts for global exchanges as their access to such platforms is limited. Over the past year, the offering of such accounts on the dark web has increased significantly, cybersecurity experts told the Russian press. Supply of Crypto Exchange Accounts for Russian Users Doubles in a Year of Sanctions More and more ready-to-use accounts for cryptocurrency exchanges are being sold to Russian residents. While this is not a new phenomenon — such accounts are often employed by fraudsters and money launderers — the current growth in supply has been attributed to the restrictions imposed by the trading platforms on customers from Russia, as a result of compliance with sanctions over the war in Ukraine. Russian residents have been buying these accounts despite the dangers, including the risk that whoever created them could maintain access after the sale, the Kommersant reported. But they are inexpensive and offers on darknet ma...

The South Korean government will adopt a cryptocurrency tracking system within the first half of this year, the country’s Ministry of Justice reportedly announced. The tracking system will be used to monitor and analyze crypto transactions, particularly to uncover the sources of illegal funds. South Korea to Start Tracking Crypto Transactions in 1H South Korea’s Ministry of Justice (MOJ) reportedly announced that it will adopt a cryptocurrency tracking system within the first half of this year. In its 2023 task report , the Justice Ministry explained that the tracking system will be used to monitor and analyze cryptocurrency transactions, particularly to uncover the sources of illegal funds. The ministry was quoted by local media as saying: We will overhaul the forensic infrastructure in response to the modernization of crime. The Korean government has been talking about adopting a system to track down illegal crypto transactions for many months. In October last year, the coun...

A new decentralized exchange (dex) on Arbitrum, called Vest Exchange, was announced this past weekend, and the team that created the project said the platform aims to focus on democratizing perpetual futures. The team behind Vest further detailed that the new Arbitrum dex is backed by firms such as Jane Street, QCP Capital, and Big Brain Holdings. Vest Aims to Revolutionize Defi Perpetuals With Cutting-Edge Risk-Engine and Backing From Prominent Investment Firms The creators of a new dex platform built on the Arbitrum layer two blockchain announced on Jan. 28, 2023, that the project has emerged from stealth mode. The project, called Vest Exchange , closed a seed round with investments from firms including Jane Street, QCP Capital, Big Brain Holdings, Pear VC, Cogitent, Moonshot Research, Fugazi Labs, Ascendex, Builder Capital, Infinity Ventures Crypto, and Robert Chen (Ottersec). Vest Exchange also provided a summary of the project in a blog post published on the same day. Vest ...

Seven months ago, current Twitter owner Elon Musk said, prior to acquiring the social media giant, he would integrate cryptocurrency payments. According to sources, a team is working on the infrastructure for a payment platform, and Twitter is proceeding with regulatory approvals and registrations. Elon Musk’s Plan for Twitter Payment System Advances, Adding Cryptocurrency Later Elon Musk appears to be proceeding with plans to integrate a payment system into Twitter. According to sources cited by the Financial Times (FT), Elon’s lieutenant, Esther Crawford , is working on logistics and has formed a small team. Musk has previously stated his intention to create a payment system, and in mid-June 2022, the current Twitter owner mentioned the integration of cryptocurrencies. “I think it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth, and fiat currency as well as crypto — essentially, whatever somebody would find useful,” Musk detai...

PRESS RELEASE. Today it was announced that Unbanked , the leading provider of white-label crypto card issuance and program management service for Web3 companies has partnered with Mastercard, to accelerate DeFi card issuance in Europe. Mastercard and Unbanked have already established a footprint in the United Kingdom and Europe and solidified relationships with leading Web3 organizations to launch card programs with a focus on innovation in the payments space. Through this initiative Unbanked and Mastercard are committed to enabling the issuance of cryptocurrency powered card programs focused on simplicity, security, and consumer protections. “At Mastercard we believe in offering choice to consumers and businesses on how they want to pay and be paid. This initiative with Unbanked is to testament to that as we work to accelerate issuance of crypto cards and empower choice in the market, knowing that it comes with the safety, security and protections they would expect from our networ...

Lawmakers in Nur-Sultan have approved the final version of the law “On Digital Assets in the Republic of Kazakhstan.” The new legislation, including several other bills, regulates the circulation of cryptocurrencies in the country and introduces a licensing regime for crypto miners and exchanges. Senate Votes on Crypto Law, Sends It to President of Kazakhstan Kazakhstan’s Senate has adopted a bill designed to regulate cryptocurrencies and related activities in the Central Asian nation. Along with additional legal documents, the new law “On Digital Assets in the Republic of Kazakhstan” creates conditions for establishing a crypto ecosystem in the country, local media reported. Members of the upper house of parliament considered the comprehensive package earlier in January and decided to propose certain amendments to the Mazhilis, which had already approved its version of the legislation. However, President Kassym-Jomart Tokayev dissolved the lower house on Jan. 19 and called early e...

A U.S. lawmaker has introduced a resolution that encourages Capitol gift shops to accept cryptocurrency payments. He stressed that lawmakers “should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who visit Capitol Hill.” US Senator Advocates Crypto Payments U.S. Senator Ted Cruz (R-TX) announced Thursday that he has reintroduced the Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions (ACCEPT) Resolution. Cruz first introduced this resolution in November 2021. The senator from Texas said: Cryptocurrency is generating new jobs, encouraging entrepreneurs to invent new values and creating new hedges against inflation, and presenting new opportunities. It is also increasingly being used as a secure form of payment for goods and services. “This is precisely why we, here at the United States Capitol, should increase accessibility and signal our support for the burgeoning cryptocurrency industry to those who ...

U.S. Senator Elizabeth Warren has called on Congress to ensure regulators, such as the Securities and Exchange Commission (SEC), have the tools to regulate the crypto industry effectively and crack down on crypto money laundering activities. “The current legal structure essentially holds up a giant sign over crypto that says, money laundering done here,” the lawmaker stressed. Senator Urges Congress to Crack Down on Crypto Money Laundering U.S. Senator Elizabeth Warren (D-MA) said in an interview with Politico’s Morning Money Wednesday that cracking down on money laundering activities is her “main focus” in terms of crypto-related legislation. The senator confirmed that she will reintroduce her bill titled “Digital Asset Anti-Money Laundering Act of 2022.” Originally introduced in December last year, this bill is “the most direct attack ” on the personal freedom and privacy of crypto users, according to experts in the field. Warren explained that money laundering is “not nearly as...

The Bitcoin blockchain recorded another difficulty increase on Sunday, Jan. 29, 2023, at block height 774,144. The network’s difficulty increased by 4.68%, from 37.59 trillion to an all-time high of 39.35 trillion. Bitcoin Difficulty Reaches New All-Time High as Mining Gets Tougher Bitcoin’s difficulty reached another all-time high, surpassing the record set two weeks ago, after rising 4.68% on Sunday. The increase occurred at block height 774,144 , at 6:10 a.m. (UTC). The difficulty is now at 39.35 trillion, close to surpassing 40 trillion. The next adjustment is due Feb. 11, 2023. The rise makes mining blocks more difficult, following a 4.68% jump after the 10.26% increase on Jan. 15, 2023. Jan. 29 statistics show a hashrate of 279.7 exahash per second (EH/s) over the last 2,016 blocks, currently at 283.55 EH/s dedicated to the Bitcoin blockchain. Statistics from macromicro.me on Jan. 28, 2023, estimate the cost of BTC production at $21,176 per unit. On Jan. 29, the spot p...

Stocks, precious metals, and cryptocurrencies rallied during the first month of the year, and market strategists are saying that markets could retract in the near future if the U.S. Federal Reserve keeps hiking rates and maintaining a broader tightening policy. In three days, on Feb. 1, 2023, the Federal Open Market Committee (FOMC) is set to convene. While the market expects rate cuts, some analysts think the Fed will continue raising the federal funds rate. Chris Vermeulen, the founder and chief investment officer of The Technical Traders, insists the S&P 500 is due to slide 37% lower than its current position. Strategist Predicts Potential Market Correction as Powell’s Re-tightening of Financial Conditions is Anticipated Markets are closely watching the next Federal Open Market Committee (FOMC) meeting, scheduled to occur on Wednesday, Feb. 1, three days from now. Last week, Bitcoin.com News reported on how investors are closely following the decision of Jerome Powell, the 1...

Trends show that artificial intelligence (AI) will be a major topic in 2023, as data indicates a surge in interest. Since interest peaked and Microsoft invested billions into Chatgpt, demand for AI-focused cryptocurrency projects has risen dramatically. For example, the crypto project Fetch.ai has seen its native token FET rise 212% in the past 30 days, and another AI project, Singularitynet, has seen it’s token AGIX increase 293% against the U.S. dollar. There’s Been a Surge in Interest in AI-Focused Cryptocurrency Projects During the week of Jan. 22-28, 2023, the worldwide Google Trends score for the term “AI” was 94 out of 100. In the first week of Dec. 2022, the search term reached its highest Google Trends score of 100. It’s safe to say that the world has become increasingly focused on artificial intelligence (AI) since the release of AI-infused art platforms like Dall-E, Deep AI, Jasper Art, Starry AI, Nightcafe, and others. In the past two months, the Openai platform Chatgpt...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that we are in a global recession. Warning of soaring bankruptcies, unemployment, and homelessness, he noted that there is good news for investors looking for “bargains.” Robert Kiyosaki’s Latest Warnings The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the U.S. economy and global recession. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Saturday: “Q: What is worse than a great depression? A: a global recession.” He added: Unfortunately, we are in global recession. Hang on. Rough landing for world. Bad news. Bankruptcy, unemployment, homelessness soar. Retirements toast. However, the famed author pointed out there is good news for investors...