Business

Twitter chief executive officer Jack Dorsey has resigned his position at the social media firm after serving for more than six years. In a Monday tweet to his 5.9 million followers, Dorsey said he had stepped down as the CEO of social media giant Twitter, which he helped co-found in 2006. He announced the company’s board of directors had appointed CTO and board member Parag Agrawal to replace Dorsey “starting today.” Dorsey said his decision to step down was based on the board’s approval of Agrawal, board member Bret Taylor agreeing to be the new chair, and the opportunities for upward mobility for other Twitter team members. “I believe it’s really important to give Parag the space he needs to lead,” said Dorsey. “I believe it&...

Cryptocurrency is now a hot topic in United States politics. It wasn’t always like this, however, especially since just a small percentage of U.S. politicians seem to have a baseline understanding of digital currencies. Nonetheless, it’s now a wedge issue poised to morph into a destructive political football destined to occupy a new, uncomfortable space in the consistently devolving culture war. Although this is certainly uninspiring news for common sense political discourse in the United States, it remains to be determined how this will affect the cryptocurrency ecosystem. Let’s start with how we got here.  A few legislators in Congress have been quietly working on common-sense cryptocurrency regulation for the last couple of years. These informed Democrats and Republicans in the U.S...

Michael Saylor, CEO of enterprise data analytics company MicroStrategy, announced Monday via a Twitter post and company filing that the firm purchased an additional 7,002 Bitcoin (BTC), worth approximately $414.4 million, at an average price of $59,187 per coin. MicroStrategy sold 571,001 shares of company stock between Oct. 1 and Nov. 29 at $732.16 apiece, raising a total of $414.4 million in cash. MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX — Michael Saylor⚡️ (@saylor) November 29, 2021 As of Monday, the com...

Are big emerging economies more likely to gravitate toward blanket crypto bans? China has set a precedent, and now it appears as if India could be weighing a similar policy direction: A bill containing a proposed ban on all “private cryptocurrencies” will go in front of the nation’s parliament sometime this winter. The measure is designed to clear the way for India’s central bank to advance its digital currency agenda. Whether a sovereign central bank digital currency can coexist with a thriving market of “private” cryptos will be one of the central questions of the looming CBDC age, and it is clear that governments will be tempted to use their coercive authority to tilt the playing field in favor of the centralized money that they control. Below is the concise version of the latest “Law D...

AMC Theatres is planning a NFT promotion to celebrate the opening day of Sony Pictures’ Spider-Man: No Way Home at cinemas across the United States. The company is offering a limited number of up to 86,000 Spider-Man NFTs for members of its “AMC Stubs Premiere & A-List” and “AMC Investor Connect” subscriptions. Those who purchase an advance ticket for the Dec. 16 showing of the latest Spider-Man movie will be eligible for the airdrop. The collaboration between Sony Pictures and AMC Entertainment is the first of its kind according to the Nov. 28 announcement. More than 100 NFT designs will be available created by Cub Studios, a BAFTA award-winning animation studio. The tokens will be redeemable on the WAX platform, a carbon-neutral blockchain running on proof-of-stake consensus. The hot...

Bitcoin (BTC) is back at $57,000 as a new week begins after a late surge produced a much better weekly close than many expected. Making up for last week’s Coronavirus-induced sell-off and associated price dip, Bitcoin passed $58,000 overnight before consolidating higher, still up around 5.7% on the day. The outlook could hold many a surprise — Coronavirus nerves remain, as macro markets hint before the open, and sellers still have the option of taking advantage of leveraged optimists on the back of the latest gains. With everything to play and the monthly close due in under 48 hours, Cointelegraph takes a look at the numbers to see what could shape Bitcoin price performance this week. Bitcoin bounces back in record time Just three days after losing $6,000 in a single daily candle, BTC pric...

Despite India’s unpredictive stance towards crypto regulations, Singaporean crypto exchange Coinstore has allocated a $20 million fund to set up three new offices in the Indian cities of Bangalore, Delhi and Mumbai. Coinstore announced to launch its web and app platform in India for spot and futures trading, opening up a new crypto investment avenue for Indian investors. The platform mandates Know Your Customer verification before allowing users to purchase and sell over 50 cryptocurrencies. #Coinstore is very excited to be bringing our services to our users in India! Thank you so much for your unwavering support towards Coinstore, as we continue to expand our services! ▶️https://t.co/I08SlB4iBK https://t.co/PqYgSafgF8 #BTC #ETH #DOGE #crypto #exchanges https://t.co/Ae29cTBSp...

Almost half of retail investors in Russia believe that cryptocurrencies like Bitcoin (BTC) are a hedging asset associated with stable income, according to a new survey. Financial publication Investing.com has polled 1,000 Russian retail investors to find out the most requested types of alternative investments. According to a survey of 1,000 Russian retail investors by Investing.com, as many as 46% of respondents viewed cryptocurrencies as a potential defensive asset allowing them to hedge against financial risks at times of an economic crisis. Russian retail investors favored crypto more than real estate as just 37% of respondents investing in alternative assets considered buying real estate an effective investment instrument. Real estate was historically the top hedging asset in Russ...

Bitcoin (BTC) and most major altcoins have been struggling to recover from the sharp fall seen on Nov. 26. This indicates that traders may be nervous to buy at current levels due to the uncertainty regarding the new heavily-mutated coronavirus strain detected in South Africa. According to a CryptoCompare report, Bitcoin’s assets under management decreased 9.5% to $48.70 billion in November. On the other hand, the AUM of altcoin-based crypto funds increased 5.4% to $16.60 billion. This indicates that traders may have booked profits in Bitcoin and rotated part of that money into altcoins. Crypto market data daily view. Source: Coin360 Celsius founder and CEO Alex Mashinsky is unfazed by the recent decline and viewed the fall as a buying opportunity. He said on Nov. 28 that he had “bought alm...

A recent update to Her Majesty’s Revenue and Customs (HMRC) regulations has introduced a digital services tax that will be levied on cryptocurrency exchanges operating in the United Kingdom. Crypto exchanges in the UK will now have to pay a 2% digital services tax according to a Telegraph report. Britain’s tax authority, HMRC, does not recognize digital assets as financial instruments and therefore exchanges are not eligible for financial exemptions. On Nov. 28, the authority included cryptocurrency exchanges under the Treasury’s tech tax. The digital services tax on revenue was introduced in April 2020 targeting social media and search giants such as Facebook and Google. The latest blow to crypto exchanges is a result of the HMRC’s classification of crypto assets, as the regulator explain...