Crypto Pirates

Square's rebranding comes just days after Jack Dorsey resigned as Twitter's CEO.

Square, the payments company founded by Twitter Inc co-founder Jack Dorsey, announced its name change to Block Inc. on Wednesday as it looks to expand beyond payments and into new technologies such as blockchain.

Square, based in San Francisco, stated that the name had become synonymous with its seller business. Square added that the new name would differentiate the corporate entity from its businesses, a strategy similar to Meta Platforms' rebranding last month.

The company stated that there would be no organisational changes and that its various business units - Square, a peer-to-peer payment service - would continue to operate independently. Cash App, a streaming music service Tidal and its financial services segment focused on bitcoin will retain their respective brands. Extended trading saw shares rise nearly 1%.

"The name has a number of connotations for the company — it refers to building blocks, neighbourhood blocks, and their local businesses, communities coming together for music-filled block parties, a blockchain, a section of code, and obstacles to overcome," Square said in a statement.

The move comes just days after Dorsey resigned as Twitter's CEO. Square Crypto, a team "dedicated to advancing Bitcoin" within the digital payments giant, will also change its name to Spiral. As of 10 a.m. IST on December 2, the bitcoin price in India was Rs. 45.21 lakh.

Under Dorsey's leadership, Square purchased $50 million (approximately Rs. 375 crore) worth of Bitcoin prior to the wave of institutional interest that propelled the digital currency's price to record highs this year. In February, it increased its wager by another $170 million (approximately Rs. 1,275 crore).

Square has also considered developing a hardware wallet for Bitcoin in order to make its custody more accessible.

Square said the new name would take effect on or about December 10, but the "SQ" ticker symbol on the New York Stock Exchange would remain unchanged.

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Hillary Clinton, the previous Secretary of State, stated that cryptographic money markets require stronger regulation to guard against technological manipulation by Russia, China, and others. Her comments on digital currency were significant for a larger portion of her Wednesday interview with MSNBC's Rachel Maddow on specific nations' control of social media platforms. She was particularly interested in how web-based media platforms, which have been used to influence races through disinformation, could be combined with digital money markets to assist state and non-state actors in destabilising other countries.

"Consider the combination of social media and the amassing of even larger sums of money via control of specific cryptocurrency chains," she explained.

Clinton's warning extended to "all forms of technology," which she said could be used by states and non-state entities to destabilise countries and the dollar's status as the world's reserve currency. "There is one additional issue on the horizon, which people are only now beginning to recognise, and that is the need for regulation of the cryptocurrency market," she explained.

"We're not just talking about states like China, Russia, and others manipulating technology for their own ends. We're looking at non-state actors destabilising countries, destabilising the dollar as the reserve currency, either in concert with states or on their own."

Although she did not elaborate, this could occur through market manipulation, the creation of hype, or even the engineering of a financial crash via social media troll farms.

Notably, North Korea has financed its nuclear weapons programme through cryptocurrency. Additionally, the country has avoided detection by utilising privacy coins and a variety of other methods.

Several countries have used or publicly considered cryptocurrency in recent years to circumvent US economic sanctions.

Additionally, the Iranian government has publicly endorsed cryptocurrencies. Saeed Mohammad, the commander of the Islamic Revolutionary Guard Corps, specifically requested that Iran use cryptocurrency to circumvent sanctions in early 2020.

Clinton has recently spoken out against the potential dangers that cryptocurrency poses to the US dollar's global dominance. She said Friday at the Bloomberg New Economy Forum in Singapore that while cryptocurrencies are a "interesting" technology, they have the potential to have negative consequences for the United States and other countries, "starting with small ones but growing much larger."

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El Salvador will be the first country to recognise bitcoin as legal tender. It is looking forwards to establishing a bitcoin city powered by bitcoin mining. El Salvador's President recently announced that bitcoin will become legal tender within the country's geographical boundaries.

The bitcoin city expected in El Salvador will be located alongside the Gulf of Fonseca, which is home to a volcano, and will be financed through the issuance of a one-billion-dollar bond.

The announcement about the bitcoin city was made during a bitcoin week event held in El Salvador. Numerous enthusiasts believe in cryptocurrencies and believe that this move will result in significant financial gains for investors and traders.

Due to bitcoin's growing popularity, El Salvador's government has placed a high premium on cryptocurrency. This is one of the primary reasons why the government believes bitcoin will support and stimulate economic growth in the country. It is likely that this will generate a plethora of investment opportunities on BitIQ The Official website.

These forecasts are made because bitcoin prices have been on an upward trend for an extended period of time. According to reports from the event in El Salvador, the country plans to build a circular bitcoin city. And it will create a plaza in the city's heart that will symbolise bitcoin.

As previously stated, the city will be located near the volcano, and in recognition of El Salvador's enormous faith in the bitcoin mining venture, the country is already operating a geothermal power plant near the Tecapa Volcano. However, it will not only power the city; it will also power bitcoin mining.

Every day, cryptocurrency mining is nothing more than solving mathematical calculations. As a result, the President announced that cryptocurrency mining will take place during the day. The coins will be verified and added to the blockchain network over the course of the night.

El Salvador's President announced that the city would be exempt from income, capital gains, property, and even payroll taxes. The city will be entirely based on the concept of foreign investment, and as such, it will be a first in the world. Additionally, it will be a city dedicated to the creation of new cryptocurrencies. Additionally, there will be new innovations that will benefit industries such as malls, restaurants, and residential areas. Additionally, there will be a port for residents of the bitcoin city to use.

Additionally, the city will have access to digital education and environmentally friendly Mummy transportation. It has a strong emphasis on technology and development, and thus the fundamental idea of investing in the bitcoin city is that you can earn all the money you need and want.

Additionally, the President stated that there would be a single tax, which would be a value-added tax (VAT). The funds raised will be used in two distinct ways. The first portion will be used to repay municipal bonds, and the remainder will be invested in municipal infrastructure and its maintenance. There will be no property, income, or municipal taxes. Additionally, the city aspires to be carbon neutral.

However, El Salvador's President provided no specific timeline for the establishment of the bitcoin city. Simply put, the President anticipates investing a US$1 billion bitcoin bond in the bitcoin city's financing. Half of which will be used to develop the country's energy and mining infrastructure, while the remainder will be used to purchase additional bitcoins.

Blockstream, which specialises in bitcoin services, would drive and manage the issuance of the bitcoin-based bonds. Additionally, the bitcoin city will provide services not only to future investors, but also to small investors. Anyone from anywhere in the world can invest as little as a hundred dollars in bitcoins.

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Cryptocurrencies have been rallying significantly over the last couple of years, but this extended bull run has been quite unlike many others in the past. And, as the industry continues to grow in popularity, investors' opportunities to find new high-potential crypto stocks to buy and hold long-term continue to expand.

Major cryptocurrencies such as Bitcoin and Ether are experiencing significantly longer rallies, and when they correct, they are far more resilient than in the past, frequently forming a new support level.

This extended rally in cryptocurrencies dating all the way back to last year demonstrates the industry's new revolution and the investors who have entered the space and are committed for the long haul.

Thus, with Bitcoin, Ether, and other major cryptocurrencies having recently pulled back slightly, now may be an excellent time to invest before the next big rally. As a result, here are three of the best cryptocurrency stocks to buy now at a discount.

Among the most productive cryptocurrency miners

Mining stocks are among the most risky in the space, but they also offer some of the highest growth potential. And while all of these stocks will benefit from the next major cryptocurrency rally, Hut 8 Mining has been the standout performer thus far.

When conducting an analysis of a cryptocurrency mining company, two critical points should be kept in mind. What is the underlying cryptocurrency that it mines, and how valuable is it in the long run? In the case of HUT, this is primarily Bitcoin, indicating that it should continue to have tremendous long-term potential.

The other factor to consider is the competitiveness of the company's operations. Cryptocurrency mining is all about constantly upgrading your computing power in order to remain competitive, and HUT 8 has been one of the best at this. Additionally, it holds over 5,000 of its own self-mined Bitcoin, which it believes is a prudent investment because it should appreciate in value over time.

Therefore, if you're bullish on cryptocurrencies, particularly Bitcoin, and looking for one of the best growth stocks, Hut 8 Mining is a cryptocurrency stock I'd consider purchasing at a discount today.

A crypto stock with a low risk profile and a high growth potential

Galaxy Digital Holdings is another high-quality crypto stock to consider, as it should be less volatile than Hut 8 while still offering comparable long-term growth potential.

Galaxy Digital is the ideal cryptocurrency stock to buy for investors seeking a high level of long-term growth without the risk associated with mining stocks, or for investors seeking exposure to the entire industry's growth potential rather than just the performance of a few cryptocurrencies.

The company operates a well-diversified business that should continue to grow as more retail and institutional investors join the fray.

Additionally, as more businesses seek to go public or consolidate, Galaxy's investment banking business should thrive. Finally, as the industry continues to innovate, Galaxy's principal investment division, which identifies high-potential cryptocurrency startups, should experience significant growth.

Therefore, with the stock trading more than 25% below its all-time high, Galaxy Digital is unquestionably one of the best cryptocurrency stocks to buy today.

Consider a Bitcoin exchange-traded fund (ETF).

Finally, if you're new to investing or consider yourself to be more risk averse, you'll probably want to opt for a safer option like an ETF. The CI Galaxy Bitcoin ETF is an excellent investment for investors.

Of course, these ETFs are still tied to the performance of cryptocurrencies. Thus, it remains a highly volatile investment in general. However, if you're looking for exposure to the space, this is one of the lowest-risk ways to invest in cryptocurrencies, and the fund manages everything for you.

Consider purchasing the CI Galaxy Bitcoin Fund as if you were purchasing Bitcoin. Both prices should almost always move in lockstep.

Therefore, if you're bullish on cryptocurrencies and looking to buy the dip, the Bitcoin ETF or any of the previously-mentioned cryptocurrency stocks represent an incredible opportunity for investors today.

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While some financial experts believe cryptocurrencies are a hot trend, they remain extremely risky.

Is the physical dollar on the verge of extinction? Cryptocurrency has been around for years and is now more accessible to the general public. Here are some points to consider before making an investment.

"I believe that because it is more public, it will attract more people. It gives people the impression that there is less of a risk "Riverside resident Dorian Perkins was in Los Angeles for the L.A. Auto Show.

Brian Gilder, a Beverly Hills financial expert who advises clients on a variety of investments, believes that while cryptocurrencies are a hot trend, they remain quite risky.

"It's a young currency that is still developing its fundamentals, and when you combine the two, you get volatility," he explained.

Ethereum, Dogecoin, and Bitcoin are a few of the cryptocurrency players. Bitcoin's value has fluctuated between $17,000 and $64,000 in the last year.

However, some continue to harbour mixed emotions.

"I heard about it," said Derek Cotton, a Los Angeles resident. "I have not yet made an investment in it. I'm not entirely confident in it yet."

The dollar, the world's premier currency, is stable and backed by the US. Cryptocurrency, on the other hand, exists unregulated on computers and is not backed by any government or authority.

"I believe it absolutely must be regulated," Gilder stated. "I believe that would help reduce currency volatility, but there is currently no regulation."

The latest indication of its growing popularity is the rebranding of the former Staples Center as Crypto.com Arena.

"It makes business sense," Cotton stated. "If you're a cryptocurrency and want to gain some traction, there's nothing better than being on everyone's lips."

Odell Beckham Jr. of the Los Angeles Rams capitalised on the cryptocurrency trend by electing to take his entire salary in Bitcoin. Gilder does not recommend this, but believes that if individuals wish to invest in cryptocurrency, that is acceptable.

"Also be aware of the risks you're taking," he added. "This is an aggressive growth investment, and as long as you understand that and can sleep at night, having a small portion of your portfolio in it is acceptable."

Perkins stated that is precisely what he is doing.

"I mean, I do have some experience with cryptocurrency, and I'm going along to see how it goes," he explained.

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V Battery Technologies and IONiX Pro Unveil a Carbon-Neutral Cryptocurrency Mining Machine Using Patented BMS Technology and a Patent Pending Proof of Renewable Mining Protocol Extreme Vehicle Battery Technologies Corp. and its subsidiary, IONiX Pro Battery Technologies Inc, are pleased to announce the Smart Miner, the latest addition to the IONiX Pro product suite.

The Smart Miner is a cryptocurrency mining system that utilises energy storage. The Smart Miner will be the first device capable of mining the Renewable Obligation Base protocol for energy economy. The ROBe2 Protocol is mined using a process known as the Proof of Renewables that is "carbon negative." Additional information about the ROBe2 Protocol, the PoR Protocol, and the Company's involvement with both can be found in the Company's prior news releases dated October 28, 2021 and November 3, 2021.

"We've seen an incredible response to IONiX Pro Home Smart Wall, which is a home-based ESS. "The Smart Miner will not only store renewable energy for home use, but will also generate revenue by mining the ROBe2 Protocol," EV Battery Tech CEO Bryson Goodwin boasted.

The Astute Miner

The Company, in collaboration with IONiX Pro and the ROBe2 Protocol, has developed the latest addition to the IONiX Pro product suite: the world's first carbon-neutral cryptocurrency miner, the Smart Miner. The collaboration aims to advance crypto mining while also addressing the climate crisis and economic inequality. The Smart Miner is IONiX Pro's most advanced development to date, utilising the patent-pending PoR Protocol in conjunction with the Company's patented battery management system (BMS).

The Smart Miner is based on the IONiX Pro Home SmartWall concept, but has been modified to verify renewable energy generation and consumption, allowing it to mine the ROBe2 Protocol. This is enabled by the Company's advanced BMS and real-time AI, which are integrated into every IONiX Pro product.

Additional factors were considered when designing the Smart Miner to entice consumers to participate in the PoR Protocol. It is compact, affordable, and simple to instal, and was created specifically to make a difference in the developing world.

"This is an exciting time for IONiX Pro as we embark on a journey that has the potential to impact billions of people worldwide," said Robert Abenante, Chief Innovation Officer at IONiX Pro.

"The Smart Miner combines the best features of battery technology, cryptocurrency mining technology, and renewable energy into a device that has the potential to be highly disruptive." While the Smart Miner is well-suited for any household interested in storing renewable energy or earning passive income through cryptocurrency mining, it was specifically designed for developing countries, where a significant percentage of homes lack electricity and residents are unable to open bank accounts. These sectors require innovations such as the ROBe2 Protocol and the Smart Miner," Mr. Abenante concluded.

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Bitcoin's 13-year existence has been marred by bouts of extreme volatility, and it was on track for its biggest one-day decline since September 20. 

Bitcoin fell over 9% on Friday, dragging down smaller tokens, as investors fled riskier assets for the perceived safety of bonds, the yen, and the dollar in response to the discovery of a new, potentially vaccine-resistant coronavirus variant.

Bitcoin, the most valuable digital currency, fell as much as 9.2% to $53,551, its lowest level since Oct. 10. Ether, the second largest cryptocurrency, fell more than 13% to its lowest level in a month as investors fled cryptocurrency. 

Bitcoin's 13-year existence has been marred by bouts of extreme volatility, and it was on track for its biggest one-day decline since Sept. 20. It has lost nearly a fifth of its value since reaching a record high of nearly $70,000 earlier this month. 

According to scientists, the coronavirus variant detected in South Africa, Botswana, and Hong Kong possesses an unusual combination of mutations that may enable it to evade immune responses or increase its transmission potential. 

"The spread of (the variant), particularly to other countries, may further dampen investor appetite," Yuya Hasegawa of Tokyo-based exchange Bitbank said. "Bitcoin's upside potential is likely to be limited, and the market should brace for additional losses." 

Bitcoin reached an all-time high of $69,000 earlier this month as more institutional investors embraced cryptocurrencies, many attracted by their alleged inflation-resistant properties. 

Others have poured money into the digital token on the promise of quick gains, a lure exacerbated by record low or negative interest rates. However, bitcoin's volatility has persisted, raising concerns about the currency's suitability as a stable store of value. 

Ether is down nearly 20% from its record high reached on Nov. 10.

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According to one cryptocurrency executive, a pure-play bitcoin exchange-traded fund may not be as far away as some believe. 

The Securities and Exchange Commission signalling this week that it is embracing cryptocurrency as an investable asset class by approving three bitcoin futures ETFs, Gemini's David Abner told CNBC's "ETF Edge." 

"The SEC is taking these progressive steps to move us forwards," said Abner, who is the crypto exchange's global head of business development. 

"I thought we'd be there by the end of the year," he said, adding that he was surprised by the SEC's rejection of VanEck's bid for a physical bitcoin ETF. 

"I'm still extremely optimistic," Abner stated. "I believe they are simply awaiting the opportunity to take the next step. They may be looking for stronger, more transparent regulatory guidelines throughout the industry, so we may see that in Q1 and then an ETF shortly thereafter. I believe there has been some movement in that direction." 

Tom Lydon, CEO of ETF Trends, expressed less optimism about the SEC's timeline but highlighted several catalysts that could benefit hopeful ETF providers. 

"For the average advisor managing a diversified portfolio on behalf of their clients, the inability to purchase bitcoin or a spot bitcoin ETF on a brokerage platform is a bit of a handcuff," he said in the same interview. 

"If your clients go rogue and open a Coinbase account, they may be shooting themselves in the foot in terms of volatility," he explained. 

With many forecasting a price of $100,000 for bitcoin in 2022, "glowing demand" could give way to increased calls for bitcoin-tracking ETFs, Lydon said. 

"I believe that this is a goal that the advisor community is pursuing. I believe we will see it eventually. I wish it would be in Q1, but fingers crossed for the end of '22," he said.

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While the recent 7.8% drop in Bitcoin may have scared some traders, El Salvador is now taking advantage of the dip to purchase additional cryptocurrency. El Salvador's President, Nayib Bukele, stated that his country took advantage of the dip and purchased an additional 100 Bitcoin to add to the country's national treasury.

According to Yahoo Finance, El Salvador's president Bukele recently tweeted that his country had "just purchased the dip." This move comes less than a week after he announced the country's intention to sell $1 billion in tokenised 10-year dollar-denominated bonds. 

El Salvador purchased 1,100 Bitcoins in total on October 27. Additionally, on September 7, the country decided to make cryptocurrency legal tender alongside the US dollar. 

The Performance of El Salvador's Dollar Debt 

As of November, El Salvador's dollar bonds were ranked as one of the worst performing emerging market debt. According to data from a Bloomberg index, the bonds underperformed Lebanon's debt. 

The bond sell-off began as investors considered the possibility of the Central American country increasing its debt. This was accompanied by concerns about its ability to reach an agreement with the International Monetary Fund. 

Bitcoin's Price Has Decreased from an All-Time High of $69K 

Bitcoin fell 7.8 percent, to its lowest level since October 12, according to a Reuters article. The cryptocurrency was on track for its biggest one-day loss since September 20 and is currently down more than 20% from its new all-time high of $69K earlier this month. 

On October 28, the country purchased a whopping 1,120 Bitcoins, garnering both positive and negative attention, with some praising the decision while others chastised it. While many hodlers and crypto enthusiasts lauded this decision, the country faced backlash even before officially recognising Bitcoin as legal tender, as the World Bank stated in another Reuters article. 

El Salvador Becomes the First Country to Accept Bitcoin as Legal Tender 

In September, the country became the world's first to legalise Bitcoin as a form of currency. This move garnered widespread global media coverage, but also drew criticism from foreign financial institutions and the opposition, as reported in the article. 

Bukele has been able to advocate for Bitcoin adoption by arguing that it will enable millions of Salvadorans to live abroad while still being able to send remittances home. Additionally, he stated that this could result in increased investment, financial inclusion, tourism, and development. 

The International Monetary Fund, or IMF, recommended that El Salvador refrain from using Bitcoin as legal tender, citing the cryptocurrency's risks.

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If you're interested in blockchain, give CRO a shot.

At this point, it's not news that cryptocurrencies aren't exactly having a good time. Bitcoin (BTC) lost almost 9% of its market value in the preceding week on the final weekend before Thanksgiving — and just a few hours before the Qatar Grand Prix. In comparison, upstart Crypto.com Coin (CRO) has soared 55.5 percent.

Let's be honest. Even if proponents of blockchain assets wax poetic about the volatility of cryptos, how they may transform you into a prince or a beggar depending on the capricious hands of an analogue clock, we rarely see 50% swings or greater over a seven-day period. To be sure, it does happen, but when it does, it is unquestionably newsworthy.

Naturally, what distinguishes Crypto.com Coin even more is its inverse link to the Bitcoin price. For years, the impediment to wider virtual currency integration was that the broader market tended to follow BTC. In other words, it's difficult for a cryptocurrency project to gain trust because its underlying tokens will eventually resemble Bitcoin.

Consider what would happen if the S&P 500 index tracked the ebb and flow of a single stock. Eventually, the entire industry of investment analysis would implode. Earnings? Are you familiar with fundamental and technical analysis? You would not need to bother - simply examine the one stock and move on.

However, given Crypto.com Coin's divergence trend, it is worth studying. Obviously, the majority of crypto enthusiasts will ask whether CRO can maintain its trend. If this were another moment, I'm sure I'd be hesitant to respond affirmatively.

It is not the first time that some cryptocurrencies have managed to trade "against" Bitcoin, only to revert to parity with the rest. Nonetheless, I retain some optimism that CRO will succeed where others have failed.

Crypto.Com Coin is a sole source of revenue.

According to Coinmarketcap.com, CRO is the "original cryptocurrency token of the Crypto.com Chain – a decentralised, open-source blockchain established by the Crypto.com payment, trading, and financial services organisation."

Additionally, the famous website notes, "Crypto.com Chain is one of the products in Crypto.com's array of solutions aimed at accelerating the global use of cryptocurrencies as a means of strengthening personal control over money, preserving user data, and safeguarding users' identities." The CRO blockchain is primarily used to power Crypto.com Pay's mobile payment application."

Apart from semantics, Crypto.com Coin appears to be another decentralised payment and financial services ecosystem. However, it differentiates itself from the competitors through what I refer to as a business-first strategy.

As I previously stated in my analysis of Crypto.com Coin, the underlying platform secured a five-year sponsorship deal with Formula 1 for more than $100 million. What makes this move more stunning is that F1, the world's finest car racing league (sorry, NASCAR fans), is a rapidly growing sport.

Indeed, CBS News said that "Formula 1 saw the biggest growth of any professional sporting entity in 2020, with a 99 percent rise in engagements across Facebook, Twitter, Instagram, and YouTube," citing data from USA Today. Given that more than eight-in-ten Americans acquire their news from digital devices, having a strong online presence benefits Crypto.com Coin significantly.

Indeed, F1 bears considerable weight not only in the United States, but in the majority of the world. Even better, the racing championship has enormous ambitions in growing countries like China. To that aim, Formula One, and by extension Crypto.com Coin, will benefit from Alfa Romeo's acquisition of Guanyu Zhou, the league's first Chinese driver.

True, China has a harsh position on cryptocurrencies, but you can't stop a good idea, especially one that is consistently promoted.

Price Is Correct

Additionally, a critical element regarding Crypto.com Coin is that the price is reasonable. Despite CRO's meteoric rise, individual tokens are still available for less than 64 cents at the time of press.

Such statistics are worthless in the equity sector. To determine a stock's overall value proposition, you consider aspects such as growth and earnings. It's the same concept with cryptos, except for the following: Crypto.com Coin appeals to a global audience. As such, one cannot presume that individuals who watch Formula One races can afford the same products as Americans and Europeans.

However, by placing CRO on the low-priced menu, it appeals to our psychological makeup. We prefer to own entire units rather than fractional shares of something. Thus, the international community might feel wealthy simply by holding CRO, even if it is not.

To the people who created the token, though, does this really matter? To them, it's all about expanding their business.

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