Banking giant BBVA debuts Bitcoin trading and custody for Swiss clients

Banco Bilbao Vizcaya Argentaria (BBVA) — Spain’s second-largest bank — is set to offer Bitcoin (BTC) trading and custody services in Switzerland. According to a release issued on Friday, BBVA Switzerland will begin Bitcoin trading for all private banking clients interested in crypto assets from June 21. This initial crypto trading service isonly for Bitcoin but the bank says it has plans to extend its offering to other cryptocurrencies. However, BBVA says its crypto trading desk will not include any digital asset investment advisory services. As part of the announcement,…

Bitcoin pinned below $38K as investors stash record $756 billion with Fed

Bitcoin (BTC) suffered as investors moved a record amount of cash in Federal Reserve’s overnight facility after the central bank started paying interest on the money. The U.S. central bank received $756 billion via its reverse repurchase program from nearly 70 market participants on Thursday. The stash is about $172B higher than the one deposited last week and roughly $235B more than on Wednesday, wherein only 53 investors tapped the facility. A reverse repo facility takes in cash majorly from money-market funds and government-sponsored banks. Until Wednesday, the service offered eligible…

Miami mayor offers city’s clean nuclear power to Chinese Bitcoin miners

With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity. Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city. According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining. Mayor Suarez has previously weighed in on the issue…

Russian oligarch Deripaska blasts Bank of Russia for ignoring Bitcoin

Russian industrial tycoon Oleg Deripaska is the latest figure to criticize the Bank of Russia’s stance on cryptocurrency regulation in the country. Deripaska took to his official Telegram channel on Thursday to blast the Russian central bank for pressuring the crypto industry to avoid getting involved into cryptocurrencies like Bitcoin (BTC). The Russian oligarch pointed out that even small countries like El Salvador have moved into Bitcoin by recognizing it as legal tender: “Even poor El Salvador, known for being close to oft-mentioned Honduras, has realized the need for digital…

City in Sichuan reportedly orders crypto miners to shut down for investigation

Chinese authorities continue to crack down on cryptocurrency mining as a city in Sichuan province has reportedly halted local Bitcoin (BTC) mining farms. Authorities in Ya’an City, a prefecture-level city in the western part of Sichuan province, have ordered local Bitcoin mining operations to shut down for examination, Chinese financial publication Sina Finance reported Friday. Citing an anonymous source from Chinese news agency PA News, the report said that it is unclear when or whether miners will restart mining operations.  According to Chinese crypto blogger Colin Wu, the latest decision will impact…

Denmark’s largest bank cautious on crypto, but won’t interfere

Danske Bank, the largest bank in Denmark, laid out its official position on cryptocurrencies on June 17, when it published a four-point notice describing reasons to be careful when trading in digital assets. While the bank urged users to exercise caution, it stopped short of taking any practical stance against cryptocurrency. The bank stated that it won’t offer any cryptocurrency services to its customers itself, but also that it wouldn’t interfere with transactions coming from crypto platforms. “For customers that deposit funds that stem from investments in cryptocurrencies, we will…

Bitcoin price completes leg down to $37.4K as key indicator hits record ‘oversold’ level

Bitcoin (BTC) broke through $38,000 support on June 18 but a reversal at solid support already has traders seeking fresh upside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin buy wall sees big test Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows of $37,200 on Bitstamp before rebounding. As Cointelegraph reported, Thursday saw a significant wall of support appear on major exchange Binance, around half of which still remains with $36,500 as a “line in the sand.” “BTC is in the process of retesting the wedge it…

Has the Doge had its day? Dogecoin interest cools

Dogecoin (DOGE) hogged the spotlight on a tightly crowded stage throughout most of 2021, as Bitcoin (BTC) and the wider cryptocurrency market climbed to new all-time highs. Fueled by the social media flirtation of an eccentric billionaire, and the coordinated efforts of strategic Reddit traders, Dogecoin’s value increased 15,000% since the turn of the year when it peaked in early May. As Dogecoin’s price boomed so too did its exposure to a mass of internet users who had previously never heard of an eight-year old cryptocurrency that even industry insiders…

Hot Wheels, NBA game ticket NFTs and Crypto.com invests in eBay for NFTs

Crypto.com Capital has made a strategic investment into a multichain NFT marketplace aiming to be the eBay for NFTs, dubbed “Hodooi.com.” The platform is a new startup from Travala Founder Matt Luczynski and will officially launch on Binance Smart Chain (BSC) in Q3 2021, and integrate with Ethereum in the same quarter. The Crypto.org Chain recently upgraded the mainnet to offer NFT support and HoDooi.com intends to integrate it on the platform to “expand the options for creators and collectors alike.” The amount of investment wasn’t disclosed by Crypto.com. Bobby…

How Ethereum Close Below $2.3K Could Spark Larger Degree Decline

Ethereum remains in a bearish zone and it traded below $2,350 against the US Dollar. ETH price could accelerate lower if there is a close below $2,300. Ethereum extended its decline below the $2,400 and $2,350 levels. The price is now trading well below $2,400 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $2,380 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its decline if the bulls fail to protect the key $2,300 support…