Billionaire David Rubenstein Explains Why Cryptocurrency Isn’t Going Away

David Rubenstein – co-founder of the asset management firm Carlyle – recently told Bloomberg about how his view on crypto has changed over time.  The billionaire now believes that digital assets are “not going away,” and said he has personally invested in some crypto industry businesses.  Why Would Someone Want Crypto? During the interview, Rubenstein began by equating cryptocurrency investing to gambling. “If it gives you pleasure to do the gambling, allocate enough money that you can afford to lose,”…

Most Banks are Not Prioritizing Crypto Technology in Near Future: Fed Survey

The Federal Reserve Board of the United States recently surveyed 80 banks on their future financial and investment expectations. A majority of respondents displayed little interest in investing in distributed ledger technology (DLT) in the near term. Just a quarter of surveyed banks called DLT-related investment a “medium” or “high” priority within the next 2 years. Meanwhile, 22% called it “low priority,” while 33% said it was no priority at all. On a 2 to 5-year timeframe, the results were…

Crypto Adoption Improves in Turkey as Inflation Hits Record High

Turkish residents are turning to cryptocurrency and gold as the nation remains in the grip of rapidly rising inflation rates. Inflation Rates Soar Over the years prices in Turkey have shot up gradually. However, June marked the highest increase the nation has seen in nearly a quarter-century. At the moment, Turkey’s statistics institute places the annual inflation rate at 78.62%. The agency recorded a 4.95% increase from May’s 73.5% inflation rate. Various factors have contributed to the skyrocketing prices. These…

Vitalik Buterin Doubts That Crypto Will Take Over the World

Ethereum co-founder Vitalik Buterin recently showed doubt that cryptocurrencies will replace traditional currencies on the world stage. He does, however, believe cryptos can co-exist as an alternative asset class. Assets, Not Currencies As reported by Reuters, Vitalik made his comments at the VivaTech conference in Paris. “I do not expect cryptocurrencies to take over the world,” he said. “It’s about cryptos and digital and governments.” [caption id="" align="aligncenter" width="2880"] Vitalik Buterin. Source: Fortune[/caption] As originally conceived, Bitcoin was created as…

The Five Stages of Bitcoin Acceptance

Bitcoin is inevitable – but we all come to terms with it at a different pace. Here’s how that reconciliation process will probably look for you. (Article inspired by a tweet from @skwp) There are two types of people: those who love Bitcoin, and those who are irrationally frustrated with and baffled by its success. There are also plenty of people that don’t spend much time thinking about Bitcoin at all – but they won’t last for long. With both…

Brazil Makes Moves Towards Regulating Crypto Transactions

Brazil’s Senate’s Economic Affairs Committee (CAE) has released an official report stating that it has approved a bill endorsing the regulation of BTC and crypto markets across the South American nation. What does the Bill Entail? With this move, Brazil is steadily on the road to adopting cryptocurrency on a wider scale. The bill paves the way for residents of Brazil to invest in Bitcoin and other digital assets. It also facilitates their use in everyday transactions.  Effective regulation is…

Russia To Recognize Crypto As “Currency”, But With Major Restrictions

While many of the most bullish crypto investors have adopted the term “digital assets,” Russia isn’t shying away from the industry’s origins. Authorities have recently agreed to recognize cryptocurrencies as “currencies straightforwardly”. That said, it will regulate these cryptos in a rigorous manner intended to weed out criminal activity in the space. Why Russia? The regulatory decision may come as a surprise to outsiders. El Salvador is the only country to recognize Bitcoin as a national “currency” to date. Even…

Cryptocurrency Is Entering Hyper-Adoption, According To Wells Fargo

As crypto prices show signs of recovery following a three-month downtrend, some institutions remind investors that they’re still early to the space. Among them is the international American bank Wells Fargo. In a recent report, the company argued that the crypto industry is entering a “hyper adoption phase” like the internet in the mid-1990s. Crypto VS The Internet As stated in the company’s report on Monday, the bank rejects the notion held by some investors that it's “too late” to…

Former Goldman Sachs CEO Acknowledges That Crypto Is “Happening”

Though Bitcoin has been at its most oversold point since March 2020, long-term investors haven’t taken their eyes off the ball. Ex-Goldman Sachs CEO Lloyd Blankfein believes the crypto industry is “happening”, having matured significantly in 2021. As a result, he suggested that now could be a great time to invest, much like other devotees buying this week’s dip. A Rapidly Growing Ecosystem Blankfein aired his thoughts on the industry in an interview with CNBC’s Andrew Sorkin on Monday. Sorkin…

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