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Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of “the mother of all crashes.” He further explained that the problem with cryptocurrency is the leverage. Michael Burry Warns of Mother of All Crashes Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, shared his view
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The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement. BOU Launches Regulatory Sandbox for Fintech
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Bitcoin (BTC) dropped to local lows of $33,750 on June 20 as fears over weak support levels proved to be well founded.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView showed BTC/USD swiftly dropping below $34,000 on Sunday after choppy behavior at the start of the weekend. A comedown from resistance
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Grayscale Investments is considering 31 crypto assets to add to its family of investment products. The company, with $32.9 billion in crypto assets under management, currently offers investments in 13 cryptocurrencies. Grayscale Investments announced Friday 13 additional crypto assets it is considering for investment products. These cryptocurrencies add to the initial list of coins the
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CEBL, the Canadian men’s basketball league, will offer its professional basketball players the option to receive a portion of their salary in cryptocurrency. The new payment option has been enabled through a partnership with the Canadian cryptocurrency exchange Bitbuy. Bitbuy to Convert Canadian Dollar Salaries Into Bitcoin The Canadian Elite Basketball League (CEBL) announced the
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El Salvador flag over bitcoin. El Salvador as first country adopting bitcoin as legal tender concept. Bitcoin dropped another 2.73 percent in conjunction with the Dow dropping 210 points by 0.6%. While the latter was due to the US Federal Reserve’s latest monetary policy decision and projections. (I’ll give you a hint: Higher interest rates),
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As part of an initiative that seeks to build the crypto and blockchain space talent base, the Decentralized Autonomous Organization (DAO1), a community-led protocol, will be holding a major collaborative computer programming or a hackathon. Organizers are hoping this event will help to create a buzz about cryptocurrencies and blockchain technology. To understand more about
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A new study by the United Kingdom’s Financial Conduct Authority has indicated a significant increase in cryptocurrency ownership in the country. On Thursday, the FCA published the results of a consumer survey which found that 2.3 million adults in the U.K. now hold crypto assets, up from 1.9 million last year. Alongside the increasing number of crypto
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