Late Stage Mature Pre IPO Unicorns -

Second-largest Ethereum mining pool to suspend all operations.

By Helen Partz, Launched in China in 2018, SparkPool controls over 22% of Ether’s hash rate as of Monday, second only to Ethermine. Sparkpool, the second-largest Ethereum mining pool in the world, is suspending operations due to the ongoing Chinese crackdown on crypto. The mining pool officially announced that it has suspended access to new users in[…]

Crypto is impossible to destroy, says Tesla CEO Elon Musk

By Helen Partz, The decentralized nature of cryptocurrencies may be a challenge for the Chinese government, Elon Musk suggested. As global regulators continue to scrutinize the cryptocurrency industry, Tesla CEO Elon Musk has expressed support for crypto, calling it indestructible. “It is not possible to, I think, destroy crypto, but it is possible for governments[…]

Alibaba to ban crypto miner sales amid Chinese crackdown

By Helen Partz, Any sellers that list crypto miners or relevant products on Alibaba’s platforms after Oct. 15 will face significant penalties. Chinese e-commerce giant Alibaba is the next company to wrap up its cryptocurrency-related services in response to the ongoing crypto crackdown in China. Alibaba officially announced Monday that its platform will prohibit sales of cryptocurrency[…]

Peruvian stablecoin launches on Stellar blockchain

By Helen Partz, Anclap expects to launch two more Stellar-based stablecoins for Chile and Colombia later this year. Latin American stablecoin issuer Anclap is expanding its Stellar-based stablecoin network by launching a new stablecoin in Peru, Cointelegraph en Español reports. Pegged to Peru’s official fiat currency, the Peruvian sol (PEN), the new stablecoin is designed to enable[…]

China Declares All Virtual Currency Transactions “Illegal”, Sending Crypto Prices Tumbling

By Tyler Durden, China expanded its escalating crackdown on cryptocurrencies on Friday when its central bank declared that all activities related to digital coins are “illegal” and must be banned. In a statement the People’s Bank of China said the latest notice was to further prevent the risks surrounding crypto trading and to maintain national security and[…]

First Weekly Outflow From Stocks In 2021

By Tyler Durden, After a tremendous stretch of non-stop weekly inflows into mutual funds and related investment products since before the start of 2021, the latest week showed net selling of equities for the first time this year. According to EPFR, net flows into global equity funds turned negative in the week ending September 22[…]

JPMorgan: Institutional Investors Are Piling Into Ethereum, Leaving Bitcoin.

By Tyler Durden, It’s not the first time that a major bank has expressed preference for ethereum over bitcoin: back in May, when Goldman published its initiating coverage on the crypto sector (available for professional subs in the usual place), the bank was surprisingly dismissive toward bitcoin which it saw as an electricity-draining Proof-of-Work, one trick pony… …[…]

Veteran trader explains when it’s the best time to cash out of the market

By Jordan Finneseth, Veteran trader Charlie Burton gives tips on how investors can manage their emotions in bull markets and the importance of sticking to a defined set of trading rules. 2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863, and[…]

‘Extreme fear’ as Bitcoin price falls below $40K… and then bounces

By Samuel Haig, While many analysts believe Bitcoin is destined for six figures if support at $40,000 can hold up, others are predicting an imminent bear cycle. The price of Bitcoin (BTC) has slumped below $40,000 for the first time in six weeks. The slide took place near the close of the day on Tuesday,[…]

Ripple Blocked from Seeing SEC Employees’ Crypto Holdings.

By Alex Dovbnya, Ripple has been delivered another blow by the court, with the judge denying it access to SEC employees’ crypto trading records and holdings. Magistrate Judge Sarah Netburn has denied Ripple’s motion to obtain documents about the U.S. Securities and Exchange Commission’s preclearance decisions regarding cryptocurrency trading as well as the staff’s personal holdings.[…]