Connect with us

Cryptocurrency

Goldman Sachs Predicts “Explosion” in Use of Digital Currencies

Published

on

Goldman Sachs COO John Waldron expects the demand for crypto to soar through the roof
John Waldron, the chief operating officer of Goldman Sachs, says that client demand for cryptocurrencies is rising in a recent interview with Reuters.

He notes that the pandemic has significantly accelerated the pace of cryptocurrency  adoption, and he now expects an “explosion” in crypto:

The pandemic has been a significant accelerant. There is no question in our mind there will be more digital commerce … and (use of) digital money.

One of the biggest Wall Street banks is now attempting to strike a balance between meeting this demand and following regulations:

Advertisement

We are regulated on what we can do. We continue to evaluate it … and engage on it.

Waldron also reveals that Goldman is currently having discussions with regulatory bodies and central banks around the globe about how the nascent asset class should be approached.

Goldman has big plans for Bitcoin

Goldman Sachs started trading Bitcoin futures earlier this week after reopening its cryptocurrency trading desk.

The banking institution is looking into an exchange-traded fund (ETF) tied to Bitcoin while also planning to offer cryptocurrency custody.

Advertisement

However, trader Peter Brandt recently warned that Goldman’s focus on crypto wasn’t necessarily bullish for the flagship coin.

” alt=”” aria-hidden=”true” />article imageImage by @PeterLBrandt

News Source

SHIB

Is Elon Musk a Shiba Inu Holder? Tesla CEO Says He Owns These Three Crypto Assets

Published

on

Tesla CEO and tech mogul Elon Musk says he owns only three crypto assets.

Earlier this month, Tesla CEO Elon Musk tweeted a photo of his Shiba Inu puppy, which sparked speculation about his support for the surging Ethereum-based memecoin. However, when a Twitter user quizzed Musk about his SHIB holdings on Sunday, Musk said he doesn’t own any of the Dogecoin (DOGE) competitor.

Advertisement

SHIB is trading at $0.00004275, up a staggering 49,268,197.7% in the past year, according to CoinGecko. Despite Musk’s revelation, Shiba Inu is up more than 14% in the past 24 hours.

Musk also revealed he still holds the same three crypto assets that he said he owned in July.

“Out of curiosity, I acquired some ASCII hash strings called ‘Bitcoin, Ethereum and DOGE.’ That’s it.

Advertisement

As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form.”

The Tesla chief executive also elaborated on why he’s been so vocal about supporting Dogecoin (DOGE).

“Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own DOGE. They aren’t financial experts or Silicon Valley technologists.

Advertisement

That’s why I decided to support Doge – it felt like the people’s crypto.”

Musk is currently the wealthiest person in the world with a net worth of $255.2 billion, according to Forbes.

News Source

Advertisement
Continue Reading

Cryptocurrency

Elon’s Tesla May Recommence Accepting Cryptocurrency Soon

Published

on

  • Tesla may restart accepting crypto in the future.
  • Bitcoin trades at a bullish price of over $63,000.

Elon Musk — the CEO of Tesla, also known as the DOGE father, never fails to surprise the crypto world. In detail, 

Indeed, this news brings joy and excitement to the crypto world, especially to all the fans of Elon and Tesla.

We may in the future restart the practice of transacting in cryptocurrencies (“digital assets”) for our products and Services.

In the past month, Tesla opened its doors to the crypto payment system where Bitcoin plays a big role. This crypto payment option of Tesla for Bitcoin runs within the month of January to March this year. However, due to environmental issues that involved Bitcoin, Tesla stopped accepting crypto-asset payments. Of course, this scenario frustrated the crypto community.

On the other hand, Elon continues to be one of the most iconic people in the crypto world. Interestingly, Elon and DOGE remain on good terms as the days go by. In Elon’s latest tweet, he mentioned DOGE once again on his official Twitter account, an event that awakened the blood of the DOGE army.

Advertisement

Meanwhile, Bitcoin keeps dominating the crypto world with its overwhelming market cap that amounts to over $1 trillion. It has a 24-hour trading volume of almost $32 billion. At the time of writing, Bitcoin trades at a skyrocketing price of $63,000, a bullish position.

News Source

Advertisement
Continue Reading

Cryptocurrency

Here’s How Crypto Investment Helped Facebook Whistleblower

Published

on


Frances Haugen, the Facebook whistleblower currently in the headlines revealed she has crypto to thank for her survival during her refuge in Puerto Rico. Haugen is a former Facebook product manager who quit over the social media giant’s incompetence to stop misinformation and unethical trade practice.

Haugen also claimed to possess sensitive documents that show Facebook prioritized profits over well being of users. She said,

“Facebook prioritizes profit over the well-being of children and all users.”

Facebook’s unethical practices are nothing new, and it has been fined on numerous occasions for not putting enough measures to curb Facebook-linked violence in various countries. A recent report also accused Facebook of fueling communal tensions in India leading to the death of 53 people.

Advertisement

During her recent with Washington Post, Haugen was also asked about her finances and how she managed to remain active post-Facebook exit. Haugen thanked her auspicious crypto investments and said,

“For the foreseeable future, I’m fine, because I did buy crypto at the right time.”

She also revealed that the shift to Puerto Rico helped her get in touch with crypto friends that led her to make crypto investments.

Advertisement

Bitcoin and Crypto Remains Primary Choice of Whistleblowers

Haugen is not the first whistleblower who has found a friend in crypto at the right time. The decentralized nature and censorship resistance help crypto become a tool for revolution. During last year’s protest in Hong Kong, protestors turned to Bitcoin when the government cut banking facilities for these protestors

Similarly, Edward Snowden, one of the most popular whistleblowers has been seen advocating for Bitcoin time and again. Apart from whistleblowers, Bitcoin has also come to the rescue of financially challenged nations and those suffering due to international trade sanctions.

News Source

Advertisement
Continue Reading