Crypto News Cast đŽ 02-07-2022
Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today
24hours Cryptocurrency Market Cap:
đMarketCap:Â Â Â Â Â $866 B
đ24h Mcap %: Â Â Â -0.23%
â ď¸Bitcoin Dom:     42.30%
đActive Coins: Â Â Â 4547
đ24h Vol %: Â Â Â Â Â -13.66%
đ˛24h Vol:        $51 B
Crypto News Updates :
- Banks Can Now Maintain 1% Of Their Reserves In Bitcoin
- Indian Crypto Companies Are Moving to Singapore And Dubai
- El Salvador High School Students Can Earn A BTC Diploma
- Binance Collaborates With Cambodian Authorities To Create Local Regulatory Framework
- Bitcoin Whales Currently Holds 45.6% Of BTC Total Supply
- VanEck Submits A New Application For A Bitcoin ETF
- BlockFi Will Be Purchased By FTX For Up To $240 Million Price
- Retail Investors Continue Buying More Bitcoin Despite Price Crash
- El Salvador Buys 80 More Bitcoins For Each $19,000
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â Banks Can Now Maintain 1% Of Their Reserves In Bitcoin
By allowing banks to store up to 1% of reserves in cryptocurrencies like Bitcoin, Bank for International Settlements (BIS) wants to embrace the new asset class (BTC). In its consultative paper titled âSecond consultation on the prudential treatment of cryptoassets,â issued on June 30, BISâs Basel Committee on Banking Supervision (BCBS) proposed capping banksâ overall exposures to Group 2 cryptoassets to 1% of Tier 1 capital. Read Full on Finbold.
â Indian Crypto Companies Are Moving to Singapore And Dubai
Indian Local exchanges are being forced to relocate to Dubai and Singapore due to Indiaâs onerous cryptocurrency taxation rules and what appears to be convoluted treatment of digital assets. These actions have caused the Indian central bank to be branded âunfriendlyâ to the Bitcoin industry. In addition to a contentious 30 percent tax on investment gains, Indian cryptocurrency users must pay a 1 percent tax on every transaction. Read Full on blockworks.
â El Salvador High School Students Can Earn A BTC Diploma
A non-governmental organization (NGO) by the name of My First Bitcoin reported that 38 high school students had graduated with Bitcoin degrees through a new vocational program in El Salvador in collaboration with the bitcoin-only enterprise IBEX Mercado. Students will be able to complete eight skill-based diplomas as part of their graduation requirements, and it will also impart useful life skills. Read Full on Bitcoin Magazine.
â Binance Collaborates With Cambodian Authorities To Create Local Regulatory Framework
Binance, the biggest cryptocurrency exchange in the world, and the Securities and Exchange Regulator of Cambodia (SERC) reached an agreement. The partnership will work to impose thorough regulations on the local digital asset market and support the initiatives of cryptocurrency businesses. In a related development, Binance partnered with Khaby Lame, a popular TikTok user. The 22-year-old will represent the companyâs brand internationally. Read Full on CryptoPotato.
â Bitcoin Whales Currently Holds 45.6% Of BTC Total Supply
In spite of the current crypto market meltdown, Bitcoin whalesâthose who possess more than 1,000 BTC are continuing to amass huge sums in their wallets. These sets of individuals are not perturbed with the recent dip and are regularly purchasing 140,000 BTC directly from exchanges. Due to this system, 8.69 million BTC, or 45.6% of the total Bitcoin supply, was concentrated in the wallets of these whales. Read Full on U.Today.
â VanEck Submits A New Application For A Bitcoin ETF
The Securities and Exchange Commission (SEC) has received a fresh application for the spot market Bitcoin ETF from New York-based asset management company VanEck. The SEC rejected VanEckâs prior proposal for a Bitcoin ETF in November 2021 because of worries about fraud and manipulation in the Bitcoin spot market. The SEC has only permitted futures-based Bitcoin ETFs, denying all applications for spot market Bitcoin. Read Full on Decrypt.
â BlockFi Will Be Purchased By FTX For Up To $240 Million Price
Cryptocurrency behemoth FTX.US has agreed to purchase embattled lender BlockFi for up to $240 million. A $400 million revolving credit facility is also included in the arrangement. It is important to note that the $240 million purchase is at the high end of the pricing range, which implies that, depending on âperformance triggers,â the acquisitionâs final price could decrease dramatically. Read Full on U.Today.
â Retail Investors Continue Buying More Bitcoin Despite Price Crash
Since January of this year, the balance held by traders has risen to its highest levels. In just 30 days, Retail Investors increased their holdings by 28.81 percent, reaching 2.13 million BTC on June 24. The whales were also seen stacking, in addition to the tiniest retail investors with 10 BTC or less in their wallets. Whales are shifting currencies from exchanges to personal wallets, which may indicate that prices are about to bottom out.Read Full on CryptoPotato.
â El Salvador Buys 80 More Bitcoins For Each $19,000
Earlier yesterday, El Salvador purchased 80 more bitcoins for $19,000 apiece, according to a tweet from the nationâs president Nayib Bukele. The president also posted pictures of what looks to be a list of Transactions, the timestamps on the pictures reveal that the transactions took place earlier yesterdayâs morning. Since the government introduced bitcoin legal tender in September of last year, the president has disclosed acquisitions of 2,381 bitcoins. Read Full on theblock.
