Unraveling the Mystery: Bitcoin's Meteoric Rise and the Cryptocurrency Problem

Read my new article on Substack on the complex landscape of bitcoin's surge and the unresolved mysteries of cryptocurrency - is it an asset, gambling or a scam?

Free access HERE

What's the future of crypto?

The financial revolution once promised by cryptocurrencies has been knocked off course by regulators and allegations of fraud. So what does the future hold for crypto?

Could digital currencies put banks out of business?

Cryptocurrencies like Bitcoin have been billed as a major disruptor to finance. But digital currencies issued by governments might be even more radical—they may even threaten the future of traditional banking.

FTX Hearings: All the Big Moments in 12 Minutes

Congress recently held two hearings investigating the FTX collapse. Watch the big moments in this recap.

‘This Company Was Uniquely Positioned to Fail:’ FTX Group CEO John Ray

Streamed live 14 hours ago. Watch coverage of a House Financial Services Committee hearing with FTX Group CEO John Ray following the arrest of former CEO Sam Bankman-Fried in the Bahamas.

Sam Bankman-Fried Arrested in Bahamas After US Files Charges

Sam Bankman-Fried was arrested in the Bahamas. His detention followed a notification from the US that it had filed criminal charges against the disgraced co-founder and former head of digital-asset exchange FTX, according to the Bahamas attorney general.

Citadel Advantage News Digest - Issue #158

Read / Subscribe to the “Citadel Advantage News Digest” Issue #158 - In this edition -

• Green Loans: A Fast-Track Method to Be a Banking ESG Leader
• Cryptocurrency Exchanges, Regulation and Bank Runs: A Summary
• The whole point of money is to NOT know your customer - Chris Skinner's blog
• Just 8% of Americans have a positive view of cryptocurrencies now
• 'Bank of Twitter': Is Elon Musk Spitballing Or Could It Really Work?
• Why Crypto’s Crash Hasn’t Spilled Into Other Markets
• Elon Musk Is Hiring Relatives at Twitter in Literal Nepotism

NEWS about World Affairs, Banking, Fintech, Payments, Business, Blockchain, Crypto, Money and more…

Check it out HERE

Bitcoin mining: Watt is money?

Using exclusive data from the Cambridge Centre for Alternative Finance, Rhizomatiks gives fresh insights into the impact of the vast energy used to mine cryptocurrency - a business that consumes the same electricity as a medium-sized country. This film, with original music, was made to be viewed as a live video installation and as an online film.

Why Ether’s Value Is Going Down After the ‘Merge’

The cryptocurrency ether saw its value climb ahead of the highly anticipated software upgrade known as “the merge.” But even though the changeover went smoothly, ether’s price has fallen since then. And that might not be the only challenge for Ethereum, the network behind ether. WSJ crypto reporter Paul Vigna joins host Zoe Thomas to discuss.

Is Bitcoin a failed experiment?

"Bitcoin has become that decentralized, digital currency that grew up and left the hood. It has become slow, clunky, and expensive to use. It is not useful as a store of value. It is not very useful for day-to-day transactions.

Bitcoin is, however, not a failed experiment. It has opened the way for other better cryptocurrencies with more utility and stability" So writes  Tomisin Olujinmi.

Read the full article HERE.

Read the latest Edition (#131) of the Citadel Advantage News Digest

NEWS about Banking, Fintech, Payments, Business, Blockchain, Crypto, Money and more…

Read the newsletter HERE (with links to all the below mentioned articles).

Contents of this edition;

• Is it time to unbundle ESG?
• Et Tu, Muske?
• 6 Keys to Data Center Planning
• How banks can personalize financial wellness
• Consumers Expect Personalization at Every Banking Touchpoint
• Creating a Secure Mobile App: Main Vulnerabilities and Security Practices
• 4 Ways Citizens Bank Keeps 'Human' in Its Digital Banking Experience
• Your Complete Guide to Getting A Job On Blockchain
• Why Banks Need to Fix Their Poor Digital Onboarding Experience
• Artificial Intelligence in AP Automation – A Look at What Really Works, and What Doesn't
• High Rates & Tight Housing Spells Bleak Outlook for Mortgage Lending
• Making the branch relevant by design
• Electric Vehicle Lending: How Green Loans Can Accelerate Growth
• Nigerian Commercial Banks ‘Apathetic’ Over CBDCs, says Governor
• A Lifetime's Consumption of Fossil Fuels: Visualized
• What Happened to Terra Luna?
• Are We Having 1929 Again? - Warren Buffett
• What happens to investors money when a cryptocurrency exchange goes bankrupt
• How Blockchain Technology Is Revolutionizing Fintech in 2022
• How Payment Businesses Deal with Fraud and Data leaks
• The Importance of IoT Security
• Organization and metaverse privacy concerns

You can read/subscribe/get all the back issues HERE

After $2 trillion crypto crash, what happens next?

Digital currencies have now lost $2 trillion in value after hitting a peak of $3 trillion in November 2021. There are also signs that many crypto firms have exposed themselves to riskier financial bets than previously known. Andrew Chang, a crypto consultant and former COO of Paxos, a New York-based financial institution and technology company, joins Geoff Bennett to discuss.

The ongoing battle to beat the crypto thieves

The price of crypto currencies has plunged recently, but whatever the value of their investment, for digital asset holders, protecting their crypto from thieves is an ongoing problem. In March this year, hackers carried out one of the biggest cryptocurrency heists of all time and with cyber criminals increasingly wielding high-tech tools and techniques, in 2021 cryptocurrency theft grew by around 500 per cent over the previous year.

What Happens If a Crypto Platform Such as Coinbase or Celsius Goes Bankrupt

When cryptocurrency lending platform Celsius froze user accounts amid a plunge in valuations, it sent ripples across the industry and raised questions about what happens to user assets if a crypto platform files for bankruptcy. WSJ’s Vicky Ge Huang explains.

Crypto's crash - why it matters

It has been a vicious year for financial markets, and more punishing still for crypto assets. The market capitalization of crypto has slumped to just $1.3trn, from nearly $3trn in November 2021. 

On May 18 bitcoin traded at around $29,000, a mere 40% of its all-time high in November; the price of ether, another cryptocurrency, has collapsed just as spectacularly. 

Six months ago Coinbase, an exchange and the leading crypto-industry stock, was worth $79bn. Now it is valued at just $14bn, and the firm is “reassessing its headcount needs”.

So, what the has gone wrong? Read the full story from The Economist HERE.

Don’t Fall For The Hype in Cryptocurrencies

It’s impossible to avoid - even if you tried - the words cryptocurrency, NFT, and the metaverse. It's as if these futuristic concepts are knocking – no, banging – on our front doors. The world is abuzz with thoughts, curiosities, and judgments about the industry, both in theory and in practice; turning once-fringe ideas into cultural talking points, the punchline of a million jokes, and the booze-fueled party conversation that everyone hates to love.

Is there a decentralized financial utopia beyond the hype of meme coins, billionaires, speculation, and clickbait?

Find out more HERE.

Taxes and Crypto: Five Things You Need to Know

For many, 2021 marked their first year—and now first tax season—in cryptocurrency. WSJ tax columnist Laura Saunders breaks down how to navigate reporting digital assets to the IRS.

Biden’s executive order - Did it boost Bitcoin, Ethereum, and other cryptocurrency prices?

Did President Biden’s recent executive order regarding the responsible development of digital assets really boost the price of Bitcoin, Ethereum, and other cryptocurrencies?

And do Americans really want cryptocurrency from their banks?

To find out the answer to these questions and more, 
read Ron Shevlin's article in Forbes HERE.

Crypto Cards - a New Payments Disruption?

Account openings of crypto-backed cards are outpacing traditional cards. Using Visa and Mastercard as the rails, several crypto platforms now enable consumers to make everyday purchases with cryptocurrency. Analysts say it's a crucial step to making crypto a mainstream form of payment.

Is this the start of a new payment disruption?

Read the full details from The Financial Brand HERE.

Crypto exchanges refuse to block Russian users

Amid a wave of firms cancelling services in Russia, cryptocurrency exchanges are standing by what they call "financial freedom". This as the conflict in Ukraine continues to weigh heavy on markets causing stocks to slump in the beginning of the week. We'll break it all down. And China is facing mounting pressure as the world's second-most powerful economy in the wake of the Ukraine crisis and trade woes.