Category: Bitcoin Investment

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Kraken donates $ 150,000 in Bitcoin to the Black Bitcoin Billionaire Group

The bitcoin exchange gave the group a concession earlier this summer, totaling 4.5 BTC at the time.

Kraken announced a $ 150,000 Bitcoin Black Bitcoin Billionaire pool focused on diversity.

The dealership was ordered earlier this summer for a total value of 4.5 BTC.

Black Bitcoin Billionaire will invest funds in capacity building projects and services in the black tech community.

Bitcoin Exchange Kraken has announced a $ 150,000 donation to Black Bitcoin Billionaire, an organization focused on promoting inclusion and diversity in the Bitcoin space. The grant was ordered earlier this summer, according to Bitcoin magazine, for a total value of 4.5 BTC.

“Our main goal is to educate and support the Black Bitcoin community,” Lamar Wilson, co-founder of Black Bitcoin Billionaire, said in the announcement. “By working with companies like Kraken, we will be able to invest in technology that turns ideas into tangible products or services. We couldn’t be more excited. “

The group will use the funds received at its discretion, Kraken said, to fund projects by Bitcoin entrepreneurs from minority communities. The donation will support Wilson and Isaiah Jackson, also a co-founder of Black Bitcoin Billionaire, to launch a series of three Tech Demo Days, a competition to provide financing to black tech companies.

“In 2020, about 13% of black families in the United States did not have a bank account. This is a huge loophole in our legacy financial system, for which there is no public alternative of last resort, “Kraken CEO Jesse Powell said, according to the announcement.

“Not having a bank is expensive and disproportionately affects our poor and minority communities. Bitcoin offers relief to the 1.7 billion unbanked adults around the world – a new financial system created by the people, for the people. The only obstacle now is education, ”Powell added.

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U.S. Bank Launches Crypto Custody Services Amid Strong Demand From Institutional Clients

The US bank has launched its cryptocurrency custody services. “Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years,” the bank said.

US Bank Now Live Custody Encryption Services

The US bank announced Tuesday that its cryptocurrency escrow services are now live and available to its Global Fund Services clients.

U.S. Bancorp, with nearly 70,000 employees and $ 559 billion in assets as of June 30, is the U.S. holding company. Bank, the fifth largest bank in the country. The Minneapolis-based company serves millions of customers locally, nationally and globally. As of June 30, the US bank Wealth Management and Investment Services had more than $ 8.6 trillion in assets under custody and management and $ 282 billion in assets under global management.

Ad details:

The services are aimed at privately funded institutional investment managers in the United States or the Cayman Islands who want an escrow solution for bitcoin, with additional support for future currencies.

“NYDIG, a leading Bitcoin financial services and technology company, is the first crypto sub-custodian announced on the bank’s provider network,” he adds. The New York Digital Investment Group (NYDIG) is the bitcoin investment arm of Stone Ridge Asset Management.

Gunjan Kedia, Vice President of Investment Services and Wealth Management, U.S. Bank said:

Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years. Our institutional custodian and our fund clients have improved their cryptocurrency offering plans and, in response, we have made it a priority to accelerate our ability to offer escrow services.

The US bank first established its blockchain and cryptocurrency practice in 2015, when the price of bitcoin was below 200. The price of BTC currently hovers around $ 50,000.

The bank announced the launch of three cryptocurrency offerings in April to meet “growing customer needs.” The first was the guard duty, which is now active. The second was an investment in Securrency, a developer of institutional-level financial and regulatory technology based on blockchain. The third was that the US bank had been selected to manage NYDIG’s bitcoin ETF this year, pending regulatory approvals.

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El Salvador begins mining Bitcoin using geothermal energy from volcanoes

El Salvador started mining Bitcoin (BTC) using geothermal energy extracted from volcanoes.

Salvadoran President Nayib Bukele, who led the country’s movement to adopt the BTC as legal tender, unveiled a teaser video to his 2.9 million followers showing clips from the new mining facility.

Bukele also shared a screenshot of a portfolio the country uses to collect the BTC generated by its mining operations. At the time of Bukele’s post, 0.00599179 BTC, valued at $286, had been extracted with energy from volcanoes.

“We are still testing and installing, but this is officially the volcano’s first Bitcoin mining operation.”

Bukele said in June that he asked El Salvador’s geothermal energy company LaGeoSV to create a Bitcoin mining facility using “very cheap, 100% clean, 100% renewable, zero energy. Emissions” from the country’s volcanoes.

The Central American nation, known as the “Land of Volcanoes”, became the first country in the world to adopt Bitcoin as its legal currency, despite protests and polls showing that a large part of the population does not disagree. .

About 25% of El Salvador’s current energy comes from geothermal energy, according to a report by Unidad De Transacciones, manager of the country’s electricity market.

Bitcoin changed hands at $48,061 at the time of writing, a 14% increase from the $41,002 seven-day low, according to CoinGecko.

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Salvadoran President Nayib Bukele says citizens who pay for gasoline with Chivo Wallet will receive a discount

Salvadoran President Nayib Bukele revealed on Friday that Chivo wallet users will be able to benefit from a discount on refueling at the country’s largest service stations. Chivo wallet users who pay for fuel will save $0.20 per gallon using the government’s encrypted wallet.

Salvadoran President Nayib Bukele’s government subsidizes the country’s gasoline market

After Salvadoran President Nayib Bukele unveiled the volcano-fueled bitcoin mining facility last week, Bukele informed his Twitter followers of two positive implementations the government has adopted. To begin with, Bukele explained that he signed a decree authorizing a fund to stabilize gas prices in El Salvador. He noted that an increase in gasoline prices was expected, but his decree halted the increase.

In fact, gasoline prices will be “slightly reduced,” Bukele said. “The government is going to absorb the increases that have been taking place in the international market for a year,” said the Salvadoran president. “If there is any reduction, it will be passed on directly to the consumer in the price of LPG cylinders (of all existing brands in our country),” added Bukele.

The president also said that families that already receive the gas subsidy will continue to benefit from the aid and, as gas prices will not increase, they will see reductions. “This will not only ease the pockets of families, but also small businesses, thus helping to strengthen our economy, and the most vulnerable sectors ​​will also benefit from our country’s economic growth,” said Bukele.

Chivo Wallet users will save $0.20 per gallon

After these statements, Bukele explained that Bitcoin Chivo wallet users will be able to get a discount on gasoline per gallon on refueling.

The guidelines for this new discount are unclear, but Bukele said several of the country’s largest gas station companies would reduce the price of gas per gallon by $0.20 if a customer uses the Chivo gas wallet app to pay . He also shared some ads that were showing some of the participating gas stations. Bukele said:

State-owned Chivo negotiated with the largest gas station companies in our country, so that starting tomorrow these stations sell each gallon of fuel at US$ 0.20 cheaper, with Chivo's portfolio.
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