China Bank Bailouts Spark ‘Biggest Credit Bubble In History’

Bitcoin could possible gain from economic uncertainty in China as one source describes the country’s third major bank bailout of 2019 as the world’s “biggest credit bubble.” China Bailouts: 3 Banks, $390 Billion Taking statistics from various sources, the Twitter cryptocurrency trader and commentator known as CryptoArbitrage noted that last week’s bailout of Heng Feng […]

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Wells Fargo Won’t Allow Customers To Buy Bitcoin

Wells Fargo, a huge traditional bank founded in 1852 to provide banking services, and mail delivery through the Pony Express, has recently come out stating that it does not allow its customers to purchase Bitcoin with their own funds. Wells Fargo ‘Does Not Allow Transactions Involving Cryptocurrency.’ Wells Fargo’s decision diverges from other leading financial […]

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Banks Down 99% In Value Against Bitcoin; Data Shows

Bitcoin now makes the world’s largest banks look literally worthless courtesy of new data showing returns on their shares. Banks Bite The Bitcoin Dust Published by research firm Messari on July 9, the five-year returns of the world’s six biggest lenders make for grim reading when valued in BTC.  According to Messari, since 2014, Deutsche […]

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‘Totally Absurd’ – New FATF Rules To Turn Bitcoin Exchanges Into Banks

Intergovernmental body the Financial Action Task Force (FATF) has committed to making 200 countries treat cryptocurrency exchanges like banks. FATF Among ‘Biggest Threats’ To Crypto As Bloomberg reported June 11, an update to how national regulators should treat businesses dealing with cryptocurrency tokens will officially go public on the 21st of the month. Its impact […]

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South Korea’s Biggest Bank U-Turns on Crypto With Custody Service

South Korea’s largest bank by assets, KB Kookmin, has partnered with a cryptocurrency startup to develop custody solutions. South Korea’s Kookmin U-Turns on Crypto Reported by local media outlet Business Korea June 11, Kookmin will now work with local company Atomrigs Lab, which is active in digital asset protection. The move marks a decisive change […]

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Apple and Facebook Now Competing With Banks

International ratings agency Weiss Ratings thinks tech giants like Apple and Facebook entering the crypto-space prove they are, in fact, becoming banks themselves and their ‘answer’ is nothing like Bitcoin – which competes with central banks.  Facebook, Apple ‘Becoming Banks’ In a blog post June 5, developer and Weiss Crypto Investor editor Juan Villaverde told […]

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‘Bankers Know They Can’t Stop Bitcoin’

Max Keiser has delivered a swift putdown of a US regulator head after he warned national TV cryptocurrencies such as Bitcoin are prone to manipulation. SEC Rejects Treating BTC Like Stocks Speaking to CNBC, Jay Clayton, chairman of the Securities and Exchange Commission (SEC), said that fiat markets had controls over malpractice which decentralized alternatives […]

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Bitcoin-Bashing Banking ‘Cartels’ Fined €1B For Currency Manipulation

The European Commission has fined five banks, including the anti-Bitcoin JP Morgan, a total of over €1 billion for currency rigging. Traders clubbed together into ‘cartels’ to manipulate the foreign exchange market between 2007 and 2013. You Can Trust The Big Banks… To Help Themselves The “Banana Split” cartel involved traders from Barclays, RBS, Citigroup, […]

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‘You Can’t Buy Bitcoin’ – Is How Banks Promote Bitcoin, Says Economist

Economist Saifedean Ammous was recently interviewed on Stephan Livera’s Podcast. Ammous explained the best way government can defeat Bitcoin and why banning it actually helps the opposite. As per the original podcast, Ammous was asked to comment on his most recent research on the potential strategies that could be employed by governments to shut down […]

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Bitcoin Should ‘Depart’ From Proof-of-Work, Says Bank Of International Settlements

Bitcoin figures have dismissed the latest report on cryptocurrencies by the Bank of International Settlements (BIS) after it claimed Bitcoin must stop using its Proof-of-Work algorithm. BIS: Bitcoin Must Drop Proof-of-Work The report, ‘Beyond the doomsday economics of “proof-of-work” in cryptocurrencies,’ was released January 21. It focused on double-spend attacks within cryptocurrency blockchains, as well […]

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