BitcoinBites: 5 BTC stories you should know – February 9th, 2022
Bitcoin flips $44k to support, bulls in longest rally since September
Even though Bitcoin (BTC) was rejected at $45,500, hope for another substantial advance in the cryptocurrency market has reappeared. Bulls are now aiming to beef up their defense at the $43,000 support level.
According to TradingView data, after reaching a weekly high of $45,500 early on Feb. 8, bears were able to lower the price of Bitcoin to $42,900 during afternoon trading as investors realized profits and prepared to place bids at $38,000. At the time of writing, the pioneer token is worth $44,091.
U.S. accuses couple of laundering $4.5 billion in Bitcoin tied to 2016 hack
ASHINGTON/NEW YORK (Reuters) -The U.S. Justice Department said on Tuesday it has unraveled its biggest-ever cryptocurrency theft, seizing a record-shattering $3.6 billion in bitcoin tied to the 2016 hack of digital currency exchange Bitfinex and arresting a husband-and-wife team on money laundering charges.
lya "Dutch" Lichtenstein, 34, and his wife, Heather Morgan, 31, New Yorkers who were arrested in Manhattan Tuesday morning, spent the illegal proceeds on items ranging from gold and non-fungible tokens to a $500 Walmart gift card, prosecutors said.
The couple had active public profiles, with Morgan known as rap singer "Razzlekhan," a pseudonym that she said on her website referred to Genghis Khan "but with more pizzazz."
It was the Justice Department's biggest financial seizure, Deputy Attorney General Lisa Monaco said, adding in a statement that it shows cryptocurrency is "not a safe haven for criminals."
KPMG in Canada adds BTC and ETH to its treasury
In an inflationary environment, assets like Bitcoin are becoming more attractive to corporations looking to diversify their cash holdings.
Big Four auditor KPMG’s Canadian operation has officially added Bitcoin (BTC) and Ether (ETH) to its corporate treasury, joining other major companies in converting a portion of its fiat holdings into digital assets.
The decision to add Bitcoin and Ether to its balance sheet reflects KPMG Canada’s belief that cryptocurrencies are a “maturing asset class,” says Benjie Thomas, a managing partner for the firm. KPMG in Canada is following in the footsteps of hedge funds, family offices and pension funds in gaining exposure to crypto.
In addition to its newly acquired BTC and ETH holdings, KPMG in Canada said it also purchased carbon offsets as part of its environmental, social and governance (ESG) mandate
Tesla finished 2021 holding nearly $2B worth of Bitcoin
Elon Musk’s electric vehicle company Tesla finished 2021 with $1.99 billion worth of bitcoin, according to their recent annual filing with the U.S. Securities and Exchange Commision (SEC). In a filing early last year, the company announced that they had purchased $1.5 billion worth of bitcoin and expected to accept bitcoin as a form of payment:
We invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.
Canadian truckers are funded with Bitcoin after $10 Million GoFundMe campaign was shut down
In Canada, truckers are protesting against vaccine mandates. A GoFundMe campaign in support of the protests was shut down. Subsequently, another fundraising campaign based on Bitcoin and the Lightning Network was initiated. With Tallycoin, a fundraiser of over 6 BTC, worth around $250,000 at the time of writing, from 3400+ individuals from all over the world is being conducted. This comes with advantages — such as privacy, censorship resistance, low transaction fees — and concerns.
What started as a relatively small convoy of Canadian truckers protesting against vaccine mandates in the trucking business has snowballed into a weeks-long protest action including the blockade of major infrastructure. Truckers driving to Ottawa planned to block the streets of the Canadian capital as they felt that the government was not listening to their desires regarding a right to choose as opposed to vaccine requirements.
Bonus: Russian government and central bank agree to treat Bitcoin as currency
Cryptocurrency transactions of more than 600,000 rubles (roughly $8,000) will have to be declared; otherwise, it could be considered a criminal act.
The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement.
Russia’s government and central bank are now working on a draft law that will define crypto as an “analogue of currencies” rather than digital financial assets set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries.
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