United States Senator Elizabeth Warren, one of the most vocal cryptocurrency skeptics in the U.S. government, has called the cryptocurrency industry the “new shadow bank.” In a Sunday interview with the New York Times, Warren said that the cryptocurrency industry offers “many of the same services” as shadow banks but still lacks “consumer protections or financial stability that back up the traditional system.” Warren expressed concerns over the rapidly growing market for stablecoins, a type of cryptocurrency whose value can be pegged to that of other assets, including fiat currencies like the U.S. dollar, the euro or commodities like gold. …
Bitcoin (BTC) poses a significant threat to the world’s reserve currency, the United States dollar, according to a strategist at major American investment bank Morgan Stanley. Ruchir Sharma, chief global strategist at Morgan Stanley Investment Management, believes that the dollar’s reign is likely to end due to global distrust in traditional finance, while Bitcoin is likely to capitalize on that lack of confidence. In a Dec. 9 article in The Financial Times, Sharma provided a brief outline on the history of the world’s reserve currencies, noting that the dollar’s run had lasted 100 years at the start of 2020. According …
LibertyX, the firm that launched America’s first Bitcoin (BTC) automated teller machine (ATM), will add 90 new machines to its network. In order to expand the network, Boston-based LibertyX has partnered with independent ATM operator DesertATM, according to a report by global ATM market publication ATMmarketplace on July 18. As a part of the partnership, DesertATM will upload LibertyX on 90 of its Genmega ATMs to enable Bitcoin operations. New Bitcoin ATM locations will include gas stations such as AMPM, ARCO & Chevron, as well as Family Dollar retail stores, the press release notes. In October 2018, LibertyX teamed up …
Global mobile crypto wallet provider BRD has announced a partnership with blockchain payments and infrastructure firm Wyre that will enable its United States-based customers to purchase cryptocurrencies using bank transfers. The news was revealed in a press release shared with Cointelegraph on June 13. According to the press release, U.S. customers will be able to purchase bitcoin (BTC), ether (ETH) and dai (DAI) by directly linking their BRD wallet to their bank account and making a low-fee transfer. The new service is reportedly supported by over 1,700 U.S. banks, and ostensibly allows for purchases to be completed within five minutes. …
A federal law enforcement agency within the U.S. Department of Justice has recently announced a bid auction for approximately 660 confiscated Bitcoins (BTC), the U.S. Marshals Service (USMS) reports Thursday, Oct.18. The bid, held by the USMS, will take place on Nov. 5, but the participants have to register themselves no later than Oct. 31 and deposit $200,000 in order to take part. The auction is divided in two parts: the first is made up of six sets of 100 BTC, and the second with 60 BTC. Once a bid is set, the participants won't be able to change it …