Shanghai Man: Bitcoin interest drops in China amid crackdown on social media and miners

Xinjiang crypto miners forced to shut down, Antpool hash rates drop by 30%, and Baidu and Weibo try to scrub crypto players from their platforms. This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. This week, following a tumultuous few weeks of regulation, the Bitcoin world’s focus shifted to Miami and Latin America. Searches for Bitcoin on China’s most popular social media app WeChat stabilized between 1-3…

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Kraken rethinks direct listing plan following Coinbase’s lackluster performance

Kraken CEO Jesse Powell is having second thoughts about a direct listing in light of Coinbase going public, and is potentially leaning towards an IPO instead. Jesse Powell is rethinking Kraken’s plan to go public which is set for late 2022, following the uninspiring performance of Coinbase stock (COIN) since its launch on April 14. Speaking with Fortune on June 11, Powell stated that in light of the performance on Coinbase’s direct public offering, the firm is now considering an initial public offering (IPO) more “seriously now,” as the firm…

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Bitcoin 2021 attendees’ positive COVID-19 tests are going viral

Social distancing, mask mandates, and proof of vaccination were not required to attend the event. Some of the attendees who attended the Bitcoin 2021 event in Miami last weekend have tested positive for Covid-19 after returning home from the conference, leading to a wave of negative media coverage and social media speculation it could turn into a “super spreader event.” Bloomberg called Miami Bitcoin a “Covid hot spot” while Gizmodo reported the conference “May be the latest COVID-19 super spreader event.” Arcane Research CIO, Eric Wall, was among those to…

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Bitcoin Mining Firm Hut 8 Approved to List on Nasdaq

Major North American bitcoin mining firm Hut 8 Mining has been approved for listing on Nasdaq under the ticker symbol HUT. The company is also listed on the Toronto Stock Exchange (TSX). Hut 8 Mining Corp. announced Thursday that its common shares have been approved to list on the Nasdaq Global Select Market (Nasdaq) under the ticker symbol HUT. Nasdaq’s website explains that the global select market “has the highest initial listing standards of any exchange in the world.” Hut 8 Mining describes itself as “one of North America’s oldest…

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IMF Voices Concerns Over El Salvador Making Bitcoin Legal Tender

The International Monetary Fund (IMF) has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,” an IMF spokesperson cautioned. IMF Sees Issues With Bitcoin Being Legal Tender in El Salvador The International Monetary Fund (IMF) raised a number of economic and legal concerns Thursday regarding El Salvador making bitcoin a legal tender, with equal footing with the U.S. dollar. With the recent approval of the…

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Here’s 5 ways investors can use the MACD indicator to make better trades

Traders use the MACD indicator to identify turning points, facilitate entries on pullbacks and capture the larger part of a move until the trend starts to reverse course. The Moving Average Convergence Divergence, also called the MACD, is a trend-following momentum indicator used widely by traders. Although the MACD is a lagging indicator, it can be very useful in identifying possible trend changes. BTC/USDT daily chart. Source: TradingView The MACD oscillates above and below a zero line, also known as the centerline. The shorter moving average is subtracted from a…

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New Player on the Market, TecraCoin – a Cryptocurrency That Tolerates Market Fluctuation

The crypto market is busier than ever. More and more tokens and cryptocurrencies are flooding the exchanges and it’s getting difficult to recognize the best trading opportunities. The majority of tokens and altcoins available on the market fail to represent any real value. A new cryptocurrency that will soon be listed on the new CEX seems to have a solution to this problem. Continue reading to find out more about TecraCoin and have a look at the bigger picture of the ecosystem of Tecra. Bullish Run on Uniswap From the…

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Financial Giant State Street Launches Digital Finance Division – Unit’s Focus Aimed at Crypto and Defi

On Thursday, the Boston-based financial services and bank holding company State Street Corporation announced the launch of a division dedicated to cryptocurrencies, the digital economy, and decentralized finance (defi). State Street Invokes New Division Dedicated to Crypto, Blockchain, and Defi The financial services company State Street (NYSE: STT) offers a wide array of products like Investment management, securities lending, stock trading, and custodial banking services. In Q3 2020, data shows that State Street has around $3.15 trillion assets under management (AUM). On June 10, the company revealed it is stepping…

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Interview: The Epic Of Bitcoin With Allen Farrington

Allen Farrington joined the “Bitcoin Magazine Podcast” to discuss his articles and Bitcoin’s cultural alignments. Watch This Episode On YouTube Listen To This Episode: Apple Spotify Google Libsyn Overcast Prior to the Bitcoin 2021 conference, “Bitcoin Magazine Podcast” host Christian Keroles sat down with keynote speaker and incredible Bitcoin thinker Allen Farrington for one of his very first podcasts appearances. This interview covered two of Farrington’s seminal works and why Farrington prefers to investigate Bitcoin’s cultural and literature alignments over the typical framing of economics, trading and technology. First, Keroles…

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Nigerian Lawmakers Slam Naira Devaluation, Warn of Inflation Implications

Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. In his unanimously adopted motion, House Representative Bamidele Salam warned the Central Bank of Nigeria (CBN) of the negative “implications of further devaluing the naira.” Lawmakers Slam CBN U-Turn The House’s warning follows the CBN’s recent decision to devalue naira from an exchange rate of 393 to the current one of just under 411 nairas for every dollar. Furthermore, the Nigerian lawmakers’ call for intervention comes just a…

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