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Coinbase will shut down the Borrow program for retail customers that enabled them to obtain cash loans using bitcoin as collateral, The Block reported. According to The Block, in May, Coinbase said customers would no longer be able to take out new loans with Borrow. Now, the company says loan holders have until November 20 to pay any outstanding balances
El Salvador has become the first country to adopt bitcoin as legal tender, CNBC reported. Lawmakers in El Salvador’s Congress voted by a “supermajority” in favor of the Bitcoin Law. It got 62 out of 84 of the legislature’s vote. As you might have expected, the price of bitcoin went up by 5% to $34,239.17 shortly after the results of
The U.S. Department of Justice announced that it seized 63.7 bitcoins currently valued at approximately $2.3 million. According to the Department of Justice, “these funds allegedly represent the proceeds of a May 8, ransom payment to individuals in a group known as DarkSide.” This is the group that targeted the Colonial Pipeline, causing it to shutdown. As alleged in the
In March of 2021, Elon Musk announced on Twitter that people could buy a Tesla with Bitcoin. Yesterday, Elon Musk changed his mind about that. Elon Musk tweeted “Tesla & Bitcoin”, and included a screenshot of a statement: Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions,
Elon Musk, the “Technoking of Tesla”, used Twitter to post some information that people who love cryptocurrency will probably enjoy. His tweet said: “You can now buy a Tesla with Bitcoin.” In a second tweet wrote: “Pay by Bitcoin capability available outside US later this year.” CNBC reported that Tesla revealed last month that it had bought $1.5 billion worth
Jack Dorsey and Jay Z have created an endowment to fund bitcoin development initially in Africa and India, TechCrunch reported. Jack Dorsey is the CEO of Twitter and Square, and Jay-Z is a rapper. TechCrunch also reported that the two have pledged 500 bitcoin – which is around $23.3 million – toward ₿trust. On February 11, 2021, @jack tweeted: "JAY-Z/@S_C_
The Department of Justice has arrested a man who allegedly was running a bitcoin mixing service on the dark web that helped criminals launder bitcoin transactions. ZDNet reported that this was the first case the Department of Justice brought against a bitcoin mixer. The Department of Justice stated that Larry Harmon, from Ohio, was arrested for his operation of Helix,