Ethereum killers and layer-2 tokens rally despite 5% Bitcoin price drop

On Feb. 10, Bitcoin (BTC) price pulled back 5% from its newly established $48,220 high and a number of altcoins also underwent slight corrections.  Data from Cointelegraph Markets and TradingView shows Bitcoin has declined 4.96% since yesterday’s highs and currently trades at $44,900. The pullback to the $45,000 level could simply be the result of traders taking recent profits from Bitcoin and altcoins as the rally appeared to be losing momentum around the $48,000 level. A recent announcement from JPMorgan analysts saying that they don’t expect to see any large…

BadgerDAO partners with Yearn.Finance to build sustainable Bitcoin vaults

Today, Bitcoin-on-Ethereum yield vault project BadgerDAO and fellow yield vault platform Yearn.Finance announced a partnership designed to bring Yearn’s sustainable vault expertise to Badger.  “Today we’re excited to develop a partnership that will bring our teams together to further accelerate best in class BTC vaults for the industry,” BadgerDAO said in a blog post. “This is a step to further secure users funds as we continue to introduce more Yearn developed, maintained and secured vaults to our users.” Badger will migrate their current synthetic Bitcoin vault balance to Yearn’s, and…

3 reasons why Binance Coin (BNB) hit a new all-time high at $148

On Feb. 10 Binance Coin (BNB) hit a new all-time high at $148 after the native exchange token rallied 121% since the start of the week.  Data from Cointelegraph Markets and TradingView shows that BNB rose from $35.37 on Jan. 11 to $148, a 256% increase in less than a month. BNB/USDT 4-hour chart. Source: TradingView Three reasons for the explosive growth in the price of BNB include the recent surge in trading volume to a new record high, the expansion of DeFi related protocols to the Binance Smart Chain,…

“We don’t plan to invest in Bitcoin,” says CEO of company that made the Pontiac Aztek

Mary Barra, who has served as the chief executive officer of General Motors for seven years, said the company has no immediate plans to emulate Tesla’s Bitcoin purchase. During GM’s Q4 2020 earnings call today, Barra said the firm would monitor demand for customers wanting to pay for vehicles using Bitcoin (BTC), but didn’t intend to make a massive crypto purchase like Tesla just yet. “This is something we’ll monitor and we’ll evaluate,” she said. “If there’s strong customer demand for it in the future, there’s nothing that precludes us…

Youngest HODLer ever? Elon Musk buys DOGE for his 9-month-old son

Elon Musk’s child with Canadian musician Claire Elise Boucher, or Grimes, may now be one of the youngest public crypto users on record. In a tweet today from the Tesla CEO, Musk said his 9-month-old son is now the proud — or maybe just fussy — owner of some Dogecoin (DOGE), referring to him as a “toddler HODLer.” The boy, born last May, is named X Æ A-Xii — pronounced “ex ash eh twelve” — with the last two syllables an homage to Lockheed’s A-12 aircraft. Bought some Dogecoin for…

Don’t expect large firms to follow Tesla’s Bitcoin move, JPMorgan says

Strategists at JPMorgan Chase, one of the largest investment banks in the United States, believe that Tesla’s $1.5 billion Bitcoin (BTC) purchase will not necessarily trigger a ton of similar investments. A group of JPMorgan strategists led by Nikolaos Panigirtzoglou reportedly argued that Bitcoin’s highly volatile nature could keep mainstream corporate treasurers away from Bitcoin. “The main issue with the idea that mainstream corporate treasurers will follow the example of Tesla is the volatility of Bitcoin,” the strategists wrote in a note to investors, Bloomberg reported Tuesday. According to JPMorgan,…

Bitcoin is a ‘masterpiece of monetary engineering’ Michael Saylor tells Austin Davis

The financial and economic narratives surrounding Bitcoin (BTC) barely scratch the surface of what makes the digital asset so unique, according to Michael Saylor, CEO of MicroStrategy.  In an exclusive interview with Austin Davis for Cointelegraph, Saylor calls Bitcoin “a masterpiece of monetary engineering,” and one that will likely go down in history as the world’s “first engineered monetary network.” “Once you understand money is monetary energy and you understand Bitcoin is a monetary energy network, then you start to appreciate the fact that it either does or does not…

Jack Dorsey commits $1M to Coin Center on top of Grayscale’s $2M donation

2021 is shaping up to be a generous year for cryptocurrency donations. On Wednesday, Coin Center, the leading cryptocurrency nonprofit in Washington, D.C., announced that it had raised millions in additional funding from high-profile names in the crypto industry.  Jerry Brito, Coin Center’s executive director, tweeted that his organization had received enough donations to claim the $1 million in matched contributions from Grayscale Investments, the world’s largest crypto fund manager. Less than three weeks ago, Grayscale announced that it had donated $1 million to the advocacy group and pledged an…

Twitter looking into Bitcoin payments for employees, says CFO

Twitter may be the next major company to purchase Bitcoin, according to the tech firm’s chief financial officer. In an interview on CNBC’s Squawk Box today, Ned Segal, who has served as the CFO of Twitter since 2017, responded to questions about how Twitter would react to Tesla’s recent $1.5 billion Bitcoin (BTC) investment this week. Segal said the tech firm was watching other companies closely, and discussed potentially adding the crypto asset to its own books or using it for Twitter employees’ salaries. “We’ve done a lot of the…