Finance

Nobel Laureate Paul Krugman Compares Crypto to Housing Bubble and Subprime Crisis

Coins Legend June 8, 2022 0

Nobel Prize-winning economist Paul Krugman has compared the current state of cryptocurrency to the housing bubble and the subprime mortgage crisis. Noting that crypto lacks any real value, he said: “it is a house built not on sand, but on nothing at all.” Paul Krugman on Crypto, Housing Bubble,

Regulation

Lawsuit Claims US Labor Department’s Crypto Guidance Is Unlawful

Coins Legend June 7, 2022 0

The U.S. Department of Labor has been sued by a 401(k) plan administrator over its cryptocurrency guidance. “This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts.” U.S. Labor Department Sued Over Crypto Guidance The U.S. Department of Labor (DOL) and Secretary of Labor […]

Technology

Eurovision Winners’ NFT Auction Raises $900K for Charity

Coins Legend June 6, 2022 0

Kalush Orchestra, the winners of the Eurovision Song Contest 2022, have successfully auctioned off an NFT for charity. The auction was held on MetaHistory — the official Ukrainian charitable NFT museum – and raised $900,000 in cryptocurrency for Ukraine. MetaHistory and Kalush Orchestra’s NFT Charity Auction The largest European crypto exchange originating from Ukraine,

News

US Regulator: Investors Reported Losing Over $1 Billion in Crypto to Scams Since 2021

Coins Legend June 5, 2022 0

The U.S. Federal Trade Commission (FTC) has revealed that more than 46,000 people have reported losing over $1 billion in cryptocurrency to scams since the beginning of last year. FTC Says Scammers Stole Over $1 Billion in Crypto The U.S. Federal Trade Commission published a “Data Spotlight” report on crypto scams Friday. The FTC is […]

News

Governor of Bank of Spain: Crypto Markets Are ‘Bigger Than Subprime Mortgages Before the Financial Market Crisis’

Coins Legend June 4, 2022 0

Pablo Hernandez de Cos, governor of the Bank of Spain, has again warned about cryptocurrencies and the growth that the crypto market is experiencing. Hernandes de Cos stated that, while the market is still relatively small at a worldwide level, the cryptocurrency market is now bigger than subprime mortgages before the financial crisis circa 2008, […]

News

Singapore’s Deputy Prime Minister Advises Retail Investors to Steer Clear of Cryptocurrencies

Coins Legend June 1, 2022 0

Singapore’s deputy prime minister has advised retail investors to steer clear of cryptocurrencies, citing that they are “highly risky.” He stressed, “We cannot express this enough.” Singapore’s Deputy Prime Minister Warns About Crypto Singapore’s Deputy Prime Minister Heng Swee Keat reportedly warned retail investors against investing in cryptocurrency Tuesday while

Market updates

Fresh Gains Push Bitcoin Back Into the World’s Top 10 Most Valuable Assets

Coins Legend May 31, 2022 0

While bitcoin has lost more than 16% in value against the U.S. dollar during the past 30 days, the cryptocurrency’s market capitalization is still the tenth-largest asset by market valuation. With $603 billion in market value, bitcoin is above Meta’s (formally Facebook) capitalization and just below Berkshire Hathaway’s overall valuation. Despite Losing Over 16% in […]

News

Swiss Watchmaker TAG Heuer Now Accepts Cryptocurrency in US

Coins Legend May 23, 2022 0

Luxury watch manufacturer TAG Heuer announced it’s introducing online cryptocurrency payments for customers in the United States. The Swiss company provides the new payment option through a partnership with crypto payment processor Bitpay. Tag Heuer Partners With Bitpay to Offer US Clients Bitcoin Payments Designer and maker of luxury timepieces TAG Heuer is now accepting

Mining

Crypto Mining Farm Uncovered in Russia’s Oldest Prison

Coins Legend May 22, 2022 0

Russian law enforcement officials are investigating a crypto mining operation at Butyrka, Russia’s oldest prison. A deputy warden has been accused of stealing electricity to mint digital coins with the help of unidentified accomplices. Deputy Warden Suspected of Mining Cryptocurrency in Moscow Prison A high-ranking representative of the management of Butyrskaya prison, in

Regulation

Cryptocurrency Is ‘Based on Nothing,’ Should Be Regulated, ECB’s Lagarde Says

Coins Legend May 21, 2022 0

President of the European Central Bank Christine Lagarde has insisted that unlike a digital euro, cryptocurrency has no underlying asset. It should be regulated to prevent people from losing their life savings by speculating on crypto assets, the top ECB official has suggested. Cryptocurrency Is ‘Worth Nothing,’ ECB Governor Claims The head of the eurozone’s […]