Mark Cuban's Dallas Mavericks will accept dogecoin for tickets and merchandise
In another sign that dogecoin may be moving beyond its roots as a meme token, the Dallas Mavericks are set to begin accepting the cryptocurrency as payment for tickets and merchandise. Owner Mark Cuban told DealBook Thursday that he and his basketball team decided on this, "because we can!" The billionaire entrepreneur added: "Sometimes in business, you have to do things that are fun."
Crypto Adoption in Russia, Ukraine, and Belarus
Russia, Ukraine, and Belarus are championing the adoption of cryptocurrencies in Eastern Europe. Presently, the region is ranked as the fourth-largest by volume of cryptocurrency traded, but Russia and Ukraine are among the top crypto nations in the world, with transaction volume numbers of $24 billion annually.
OLB Group enables crypto payments for thousands of US merchants
OLB Group (OLB), a New York-based e-commerce merchant service provider, is making it easier for businesses to accept cryptocurrency payments. OLB’s more than 8,500 merchants are now able to accept Bitcoin (BTC), Ethereum (ETH), USDC and DAI at the point-of-sale through the company’s OmniSoft business management platform. Customers wishing to pay with cryptocurrency in-store or through their mobile phones can simply elect to do so with their cryptocurrency wallets. All payments are processed through SecurePay, a payment gateway that authenticates the transaction, converts the cryptocurrency to U.S. dollars and approves the final sale.
All of the Federal Reserve's wire and ACH systems go down
Nearly all of the services available through the Federal Reserve's online portal went down for more than an hour today. According to the Federal Reserve Bank Services website, the bank is currently experiencing a disruption in its Check 21, Check Adjustments, FedLine Advantage, FedLine Command, FedLine Direct and FedLine Web services, which started at 6:18 pm UTC today. Its FedACH, Central Bank, FedCash, Fedwire Funds, Fedwire Securities and National Settlement services went offline at the same time but were restored within two hours.
Bitfinex, Tether settle with New York's Attorney General for $18.5 million
Crypto firms Bitfinex and Tether have settled with the New York Attorney General's (NYAG's) office, ending a legal dispute that began in mid-2019. As part of the settlement, Bitfinex and Tether have agreed to pay $18.5 million in penalties to the state of New York, according to a statement from New York Attorney General Letitia James.
US charges three North Korean hackers over crypto attacks and WannaCry ransomwa…
On Wednesday, the United States Department of Justice announced charges against three North Korean hacker. Making the announcement, Assistant Attorney General John Demers condemned the North Korean program, the most famous branch of which is Lazarus Group. Demers said: North Korea’s operatives, using keyboards rather than guns, stealing digital wallets of cryptocurrency instead of sacks of cash, are the world’s leading bank robbers.
Ethereum 2.0 set to undergo first hard fork upgrade
Ethereum co-founder Vitalik Buterin published a plan on Monday for the first hard fork of the new Ethereum 2.0 Beacon Chain, tentatively named HF1. The hard fork would allow the developers to introduce several key upgrades to the recently launched Beacon Chain, which would also serve as a useful test for deeper changes in the future.
Miami council supports mayor’s move to offer city worker salaries in Bitcoin
Miami Mayor Francis Suarez has proposed an official resolution that would see Bitcoin (BTC) become an acceptable payment instrument in various parts of the city's administration. Announcing the news on Twitter, the Mayor said that the city commission has supported the resolution, and is now taking next steps: “I wanna thank the city of Miami commissioners for supporting my resolution, which directs a city manager after analysis to procure a vendor to be able to offer our employees to get a percentage of their salary in Bitcoin; allows our residents to pay for fees in Bitcoin.”
MasterCard announces support for crypto on its network
MasterCard has announced plans to support cryptocurrencies in 2021, paving the way for its nearly one billion users to spend digital assets at more than 30 million merchants. The firm believes this may open merchants up to new customers and build loyalty with existing customers who are already migrating to digital assets over traditional fiat options.
Russia has imported its largest Bitcoin miner batch
Russia has reportedly imported thousands of cryptocurrency mining devices amid a massive surge in the crypto market. A senior executive at BitRiver, the largest crypto mining colocation services provider in Russia, claimed that a local client received over 20,000 crypto mining devices, Russian news agency Kommersant reports Feb. 10.
Jeff Bezos steps down: Crypto-curious Andy Jassy to become new Amazon CEO
Amazon has announced today that founder and CEO Jeff Bezos is planning to step down as CEO, and Amazon Web Services CEO Andy Jassy — who oversaw Amazon’s crypto product offerings — will replace him. In his letter to employees, Bezos said that he would be transitioning to the role of executive chair of the Amazon board, where he would “focus my energies and attention on new products and early initiatives.” The transition is scheduled for later in the year.
22.3 million Bitcoin addresses were active during January
January was a record month for Bitcoin’s price and network activity, with more than 22.3 million unique addresses actively sending or receiving BTC over 31 days. The milestone was spotted by crypto market data aggregator Glassnode, who tweeted that January had seen the highest monthly number of unique active addresses in Bitcoin’s history
Visa dedicated a section to crypto during its Q1 2021 earnings call today. In his prepared remarks, CEO Alfred Kelly said Visa is poised to make crypto payments safer and more widely used through its partnership approach. Kelly said Visa plans to work with wallets and exchanges to enable Visa users to purchase crypto-assets, and to allow users to cash out and make fiat purchases with their crypto.
Cathie Wood: Bitcoin ETF Approval Unlikely Until Market Cap Rises to About $2T
Ark Investment Management CEO Cathie Wood said she doubts U.S. regulators will green-light a bitcoin exchange-traded fund before the original cryptocurrency’s market cap hits $2 trillion. “The flood of demand has to be satisfied so it’s going to have to get well over a trillion dollars – $2 trillion, I think, before the [U.S Securities and Exchange Commission] will feel comfortable about” a bitcoin ETF, Wood said at Tuesday’s ETF Trends Big Ideas event. Bitcoin’s market capitalization hovered a tick under $600 billion at press time Tuesday.
President Biden freezes FinCEN's proposed crypto wallet regulations
One of the first actions President Joe Biden has taken on his first day in office is to freeze Federal regulatory process, including the controversial self-hosted crypto wallet regulations proposed by former Treasury Secretary Steven Mnuchin. The announcement came in a White House memorandum for the heads of various federal agencies, the Financial Crimes Enforcement Network (FinCEN) included. The edict doesn’t specify the crypto wallet proposal, but places a general freeze on all agency rulemaking pending review, effective for 60 days from the date of the memorandum.
Biden's Treasury Secretary nominee calls cryptocurrencies a 'particular concern…
Janet Yellen, a former leader at the Federal Reserve and Joe Biden's pick for Treasury Secretary, is still suspicious of crypto as a threat for illicit financing. In a virtual hearing of the U.S. Senate Finance Committee held today, Yellen faced questions on combating the financing of terrorism, or CFT, from Democratic Senator Maggie Hassan from New Hampshire. Hassan asked Yellen how she would respond as Treasury Secretary to “emerging financial technology” used to fund criminal organizations and terrorists. The senator called cryptocurrencies a “growing concern” and asked Biden’s pick how she would handle CFT.
IMF Tells Governments: Spend as Much as You Can and Then Spend More
The head of the International Monetary Fund (IMF) has called on countries worldwide to spend as much as they can and then spend more. She admitted that this is a “very unusual” policy for the IMF but it is needed to revive economies. Many people are interpreting her statement as very bullish for bitcoin.
Anchorage granted US's first national crypto bank charter
Custody pioneer Anchorage is the first crypto firm to see a charter from the U.S. national bank regulator. Per a Wednesday announcement from the Office of the Comptroller of the Currency, Anchorage will have conditional authorization to operate as a trust institution nationally. The charter is the first of its kind, part of an idea of a "fintech charter" stretching back to the Obama years, but which has been accelerated under the leadership of Acting Comptroller Brian Brooks, formerly of Coinbase's legal team.
As Biden preps $3T stimulus, Bitcoin could be set to erupt
The incoming Biden administration’s plan to flood the U.S. economy with trillions of dollars could ignite the next leg of the Bitcoin (BTC) bull market, as more investors seek refuge from a crumbling United States dollar. Axios, an Arlington-based news outlet, reported Thursday that Joe Biden has asked Congress to provide Americans with $2,000 in stimulus payments to help offset the economic devastation of Covid-19. The incoming president has also proposed a $3 trillion tax and infrastructure package as part of his “Build Back Better” program.
Crypto Advocates Think Joe Biden's $3 Trillion Stimulus Plan Will Bolster Bitco…
According to various reports, U.S. President-elect Joe Biden is planning to create another $3 trillion for Covid-19 relief and infrastructure. The massive stimulus plan and the backers behind the Biden administration have made crypto proponents believe that bitcoin will prosper greatly. Ever since the coronavirus outbreak took hold across America, politicians and members of the U.S. Federal Reserve has distributed massive amounts of dollars to special interests and Wall Street trading houses. Americans did get a stimulus check for $1,200 during the last program, and then $600 per person during the most recent stimulus plan.