Crypto Flipsider News – May 6th – Mike Novogratz, BitGo, Bitcoin Cash, Telcoin, Bahamas Sand Dollar, India, Argentina
DailyCoin
Published May 06, 2021 10:43AM ET
Updated May 06, 2021 11:01AM ET
Crypto Flipsider News – May 6th – Mike Novogratz, BitGo, Bitcoin Cash, Telcoin, Bahamas Sand Dollar, India, Argentina
In today’s digest:
- First Over-Billion Deal in the Crypto Sector
- Bitcoin Cash Breakthrough
- Telcoin Showing Its Best
- Bahamas’ National Digital Currency
- Indian Banks Block Crypto
- Argentina is Interested in Crypto
“I’ll Make Him an Offer He Can’t Refuse”: The First Over-Billion Deal in the Crypto Sector
Mike Novogratz, the owner of Galaxy Digital Holdings, is purchasing one of the biggest cryptocurrency custodians, BitGo. The transaction value equals $1.2 billion. It’s the first over-billion deal in the crypto sector.
Flipsider:
- Of course, it’s an impressive sum of money. But for now, it gives nothing. Similar to Ripple’s case, let’s observe the consequences later.
Bitcoin Cash Gained 36% Overnight and Returned to the Top 10
The crypto has scheduled a bi-annual hard fork update on May 15. The changes will include the removal of the coin’s unconfirmed transaction chain limit. That is the probable reason for BTC jump.
Telcoin is Showing Its Best
TEL gained more than 200% after its layer-2 migration. The coin is not on the heavy rotation as Dogecoin or Ethereum now, however the result is quite impressive. The upgrade and switch to the Polygon network enable trading it on QuickSwap.
Flipsider:
- Of course, it’s an impressive sum of money. But for now, it gives nothing. Similar to Ripple’s case, let’s observe the consequences later.
Bahamas Prepare for National Digital Currency Adoption This Summer
The Central Bank of the Bahamas moves toward to digital Sand Dollar. Now, they are working on wallets with commercial banking systems for mobile.
Flipsider:
- On the one hand, China has a competitor in its national digital currency race. On the other one, offshores of oligarchs will be digitized now.
Other news from the major governments:
Indian Banks Block Crypto Transactions
Cryptocurrency exchanges in Mumbai are fighting with banks not to block transactions. Reserve Bank of India’s (RBI) policy is not favoring crypto.
Argentina is Looking for a Way Out from Devaluing in Crypto
The number of Argentinians in crypto has multiplied by 10 since 2020. This was stated by Binance exchange’s Latin America Director Maximiliano Hinz. As investors are hungry for safe heaven, but the government doesn’t give an opportunity, the popularity of Bitcoin, Tether, Dai, and Ethereum raised.
Flipsider:
- These news are flipsides themselves. While somebody bans, the others are looking for opportunities.
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