Crypto Currency

Over 1,000 Cryptocurrency Rigs Destroyed By Malaysian Authorities Using A Steamroller

Authorities in Malaysia have destroyed 1,069 cryptocurrency rigs after they were confiscated in raids earlier this year. A steamroller was used to crush the hardware in the city of Sarawak, after the electric utility company of the Malaysian province accused the mining operators of stealing electricity for their activities.

The operators allegedly stole RM8.4 million ($2-million) worth of energy from the company. Authorities say the operation was scattered across four locations and six suspects have been arrested, between the ages of 24 and 64. The police chief of Sarawak says mining operations are becoming rampant in the city, and three

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Accountants, Lawmakers Urge Rules on Crypto Accounting

Accountants and lawmakers are urging standard-setters to fill a void and write concrete rules telling companies how to account for bitcoin and other cryptocurrency assets.

The assets, for which there are no binding U.S. accounting requirements, have drawn regulators’ interest after sharp swings in recent months and investments by companies such as electric-car maker

Tesla Inc.

and payment provider Square Inc. Bitcoin, which rose to a record of $63,381 in April, has roughly halved in value since then, mirroring volatility in other digital currency assets.

The Securities and Exchange Commission, which oversees U.S. securities markets, is considering new regulation for

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2 Bitcoin Stocks I’d Buy Right Now

I suggested that Bitcoin (CRYPTO:BTC) was a worthwhile buy two months ago, as long as you were prepared for some uncomfortable volatility. The leading cryptocurrency is 23% cheaper today, and it still strikes me as a reasonable investment, with the usual reminders to back up the truck very slowly and always be prepared for more volatility.

Maybe you’re not quite ready to take the Bitcoin plunge. Still, you’re interested in the cryptocurrency market and curious enough to dip your toes into the waters through more-traditional investment tools. Here are a couple of high-quality stocks with significant ties to Bitcoin.

These

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Andreessen Horowitz taps Arianna Simpson to help run $2.2B crypto fund

Andreessen Horowitz is adding a new, high-profile partner to help deploy its $2.2 billion cryptocurrency fund.

Thirty-year-old Arianna Simpson is being promoted to general partner from deal partner roughly a year after joining, the company announced Monday.

Simpson has become somewhat of a celebrity in the cryptocurrency world. She left a global marketing job at Facebook and joined BitGo in her early 20s. Then she launched her own venture capital firm at age 24 to invest in blockchain and crypto companies. Friends and mentors advised her not to.

“It was an unpopular decision,” Simpson told CNBC in an interview. “But

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Bitcoin (BTC) falls below $30,000 as cryptocurrency market plunges

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021.

Dado Ruvic | Reuters

The price of bitcoin dropped below $30,000 late Monday night for the first time since Jun. 22, dragging other digital coins lower with it.

Bitcoin is trading in the $29,000 range, about 3% lower on the day, according to Coin Metrics. Ether is down 1.25% and XRP fell 4%. Even with the plunge bitcoin is up 2.3% for the year, according to CoinDesk data. Ether and XRP are both up about 140% for the year.

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Square bitcoin DeFi business; Elon Musk dogecoin tweets

The top cryptocurrencies by market value, including bitcoin and ether, remain in the red on Monday, extending losses from the past week. Dogecoin is also down over 18% in the last seven days.

But a lot is still happening in the crypto world. From Jack Dorsey announcing that Square is building a bitcoin focused decentralized finance business to Elon Musk continuing to tweet about dogecoin, here are six things worth knowing in crypto from the past week.

1. Federal Reserve chairman Jerome Powell calls for more stablecoin regulation

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Bitcoin price falls 6% as cryptocurrencies slide

Bitcoin was trading lower by more than 6% on Thursday morning.

The price was around $32,920 per coin, while rivals Ethereum and Dogecoin were trading around $2,200 and 21 cents per coin, respectively, according to Coindesk.

The Securities and Exchange Commission wants more time to review SkyBridge Capital’s application for a bitcoin exchange-traded fund, according to a filing by the U.S. regulatory agency and reported by Coindesk.

The SEC has extended the initial 45-day review period to Aug. 25. Anthony Scarammuci’s SkyBridge Capital

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Why Bitcoin, Dogecoin, and Ethereum Just Crashed

What happened

It’s Thursday, and cryptocurrencies are crashing. As of 10 a.m. EDT, the prices of several of the biggest names in cryptocurrency are tumbling:

Image source: Getty Images.

So what

Why is that? Well, the most obvious answer appears to be government regulation.

In the United Kingdom for example, regulators at the Financial Conduct Authority have ordered Binance, the world’s largest crypto exchange by trading volume, to post a notice on its website advising that “it is not authorized to operate in the U.K.,” reports CNBC today. The news agency further notes that “customers were temporarily unable to make

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Israel says it’s targeting Hamas’ cryptocurrency accounts

JERUSALEM (AP) — Israel said Thursday it will begin seizing cryptocurrency accounts used by the Palestinian Hamas group to raise money for its armed wing.

Israeli Defense Minister Benny Gantz ordered security forces to seize the accounts after a joint operation “uncovered a web of electronic wallets” used by Hamas to raise funds using bitcoin and other cryptocurrencies, the ministry said.

It said Hamas has been waging an online campaign to raise donations for its military wing, efforts that accelerated after the 11-day Gaza war in May. Cryptocurrencies such as bitcoin are favored for illicit transactions because they are perceived

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Warren asks SEC to take closer look at cryptocurrency exchanges

Sen. Elizabeth WarrenElizabeth WarrenWarren slams Wells Fargo decision to close customer credit lines Schumer warns August recess in danger as infrastructure work piles up The Hill’s Morning Report: Afghanistan’s future now up to Afghans, Biden says MORE (D-Mass.) is asking the Securities and Exchange Commission (SEC) to assess the effect of cryptocurrency exchanges on U.S. financial markets and the risks they could pose to consumers.

In a letter released Thursday, Warren asked SEC Chairman Gary GenslerGary GenslerHillicon Valley: Warren asks SEC to take closer look at cryptocurrency exchanges | Maryland town knocked offline as part of massive

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