Crypto company CEO says the recent crypto boom brought increased adoption

Cryptocurrency has gone through a number of bull and bear cycles since the industry’s inception in 2009. While 2017 saw the crypto industry boom around initial coin offerings and a rising Bitcoin (BTC) price, 2020 and 2021 have seen the crypto space expand around decentralized finance (DeFi) and nonfungible tokens (NFTs). This time however, retail and institutional interest in crypto have ushered in greater adoption than ever before, according to one crypto company CEO.  “Cryptocurrencies have been growing steadily in popularity over the years, but 2017 left a bitter taste…

‘Bitcoin is the king of crypto and it’s here to stay’ says eToro CEO

While countries like El Salvador have welcomed Bitcoin (BTC) with open arms, other regions are pushing to legally ban the digital currency. Although this may be, some industry experts believe that Bitcoin is here to stay — for good.  For example, during an exclusive interview at Bitcoin 2021 Miami, Yoni Assia, chief executive officer of eToro, told Cointelegraph that he considers Bitcoin to be the “king of crypto,” noting that the most popular digital currency is here to stay: “I’ll be surprised if we don’t see a significant rise in…

Sygnia CEO criticizes Elon Musk for alleged Bitcoin pump and dump

Magda Wierzycka, one of the richest women in South Africa and CEO of financial services company Sygnia, said Tesla CEO Elon Musk would likely have been investigated by authorities regarding recent allegations over his manipulation of crypto prices — if his target had been almost anything other than Bitcoin. In an interview with Bruce Whitfield at the Money Show this week, Wierzycka said Musk’s recent social media activity on the price of Bitcoin (BTC) should have made him the subject of investigation by the U.S. Securities and Exchange Commission, or…

Regulator interest is good for the crypto ecosystem, says BlockFi CEO

BlockFi CEO Zac Prince agrees with United States Senator Elizabeth Warren that there is a lot of noise in the crypto industry. Still, he expects that the clarity that comes with regulations will positively impact the ecosystem.  Describing regulators’ interest in crypto as a natural evolution of the technology, Prince said that discussions like Wednesday’s Senate Banking Committee hearings are very positive trends overall for the crypto sector. It’s easy to miss the forest for al the trees, he said, highlighting that crypto is an asset class that has generated…

Russian central bank policies stop Tinkoff from offering crypto trading, CEO says

Tinkoff, a major private bank in Russia, is struggling to offer cryptocurrency trading to its clients due to the central bank’s tough stance on digital assets. Tinkoff CEO Oliver Hughes said that the digital bank is willing to offer crypto trading services but is restrained by the Bank of Russia’s policies, CNBC reports. The executive announced the news at the Saint Petersburg International Economic Forum on Thursday, stating: “There’s no mechanism for us to offer that product to them in Russia at the moment because the central bank has got…

H&R Block needs clear regulations before dealing with crypto taxes, CEO says

As the debate surrounding crypto regulations heats up, tax professionals are taking a more cautious approach to deal with Bitcoin (BTC) and other earnings. The United States-based tax preparation service company H&R Block is looking for more precise regulations before handling their customers’ crypto holdings. Answering tax-related questions on CNBC, H&R Block CEO Jeff Jones called crypto an interesting thing in terms of taxation: “Because it’s not federally regulated, it’s really not a place we weigh in with consumers much.” While the current regulatory state of crypto is muggy, Jones…

Bitcoin not on the agenda for HSBC says bank’s CEO

The recent tumultuous price action for cryptocurrencies seems to be providing ample opportunity for popular anti-crypto bank HSBC to double down on its negative stance towards virtual currencies. Speaking to Reuters on Monday, HSBC CEO Noel Quinn said that the bank was not interested in running a crypto trading desk or offering cryptocurrency-related investment packages to its clients. Quinn identified volatility as a major reason for the bank’s decision despite the emerging trend of other major financial institutions announcing plans to open up crypto investment avenues for their clients. Earlier in…

BTC could trade for $250K within five years: Morgan Creek Capital CEO

Morgan Creek Capital Management founder and CEO believes Bitcoin’s next market cycle could see the asset rival gold by market capitalization and trading for more than $200,000. While appearing on CNBC’s Trading Nation on May 9, Mark Yusko compared the rapid adoption of Bitcoin to the growth of FAANG companies — Facebook, Apple, Amazon, Netflix, and Google. “This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value, right on the heels of the FAANGs that took,…

Investment app Betterment still not ready to offer crypto services, says CEO

Betterment, a major financial advisory company providing robo-advising and cash management services, has not yet decided whether it will introduce cryptocurrencies to its platform. Betterment is still researching a potential expansion of its services to inclue digital assets like Bitcoin (BTC), CEO Sarah Levy said. “We’re believers that if we can provide the right kind of context and advice, that it’s OK to participate in some of these newer asset classes,” Levy said in a Tuesday interview at Bloomberg’s Wealth Summit. “I’d like us to find a way to responsibly…

Binance CEO warns of CBDC drawbacks as digital dollar pilots proceed in US

Cryptocurrencies like Bitcoin (BTC) and Ether (ETH) will co-exist “for a while” with more restrictive digital currencies like China’s digital yuan, Binance CEO Changpeng Zhao said in a Bloomberg interview on Monday. According to Zhao, some of the key features of cryptocurrencies like Bitcoin (BTC) — freedom of use and limited supply — won’t be offered by CBDCs. “At the end of the day, those are core properties that users care about,” he stated. Zhao said that the differences between the two types of digital assets could make central bank-issued currencies…