Pro-Trump cryptocurrency magacoin has racked up over 1,000 sign ups since launching, report says

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• Biden says Hong Kong is 'deteriorating,' and the administration is set to release an advisory for US businesses on the situation President Biden speaks to reporters on July 8. Alex Wong/Getty Images At a White House press briefing on Thursday, Biden said the situation in Hong Kong is "deteriorating." The White House is set to issue a business advisory - expected Friday - for US companies. China has been clamping down on Hong Kong's pro-democracy movement. See more stories on Insider's business page. At a White House press briefing on Thursday, President Joe Biden said the situation in Hong Kong is…
• Bitcoin DeFi is on the rise as Jack Dorsey's Square muscles into territory long held by ethereum Jack Dorsey in 2017. Rolf Vennenbernd/picture alliance via Getty Images Square CEO Jack Dorsey earlier this week announced his payments company was building a new DeFi business on bitcoin. Bitcoin DeFi is rising, albeit slowly, and could see significant gains from Square's entry into the space. So far, DeFi services have largely been built on ethereum. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Square CEO Jack Dorsey earlier this week announced his payments company…
• PayPal raises the cryptocurrency purchase limit for US customers to $100,000 a week In this photo illustration, PayPal logo is seen displayed on a smartphone screen in front of cryptocurrency signs. Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images PayPal said it would increase the weekly amount of crypto users can spend. The company said it wants to allow for more crypto choice and flexibility. Last October, PayPal allowed its US users to buy and sell crypto, and also pay for goods and services with it. Sign up here for our daily…
• South Korean president Moon Jae-in cancelled his Japan trip after reports that a Japanese diplomat described Moon's efforts to improve the countries' relations as 'masturbating' South Korean President Moon Jae-in speaks during the opening ceremony of the 132nd IOC session ahead of the 2018 Winter Olympics in Gangneung, South Korea, Monday, Feb. 5, 2018. Jae C. Hong/AP South Korean President Moon Jae-in will not visit Tokyo for the upcoming Olympics, his office said on Monday. His cancellation comes after the media reported that a Japanese diplomat described Moon's efforts to improve the countries' relations as "masturbating." Prime Minister Yoshihide Suga declined to comment on Moon's…
• Leaked documents appear to confirm a Russian plot to support Trump in 2016, Guardian report says President Donald Trump and Russian President Vladimir Putin at a joint press conference in Helsinki, Finland, on July 16, 2018. Chris McGrath/Getty Images Russian approved a plan to help Trump win the 2016 election, The Guardian reported Thursday. It cited papers said to be leaked from the Kremlin, which experts said appear genuine. They lay out the chaos officials expected to follow a Trump win, weakening Russia's greatest rival. See more stories on Insider's business page. Documents purporting to record…
• 'I might pump but I don't dump': Elon Musk outlined his broad approach crypto investing in a panel also featuring Cathie Wood and Jack Dorsey Elon Musk REUTERS/Mike Blake Elon Musk on Wednesday said he is a supporter of bitcoin and wants to see the cryptocurrency succeed. "If the price of bitcoin goes down, I lose money. I might pump but I don't dump," Musk said during "The B Word" event. Musk spoke on the panel alongside Twitter chief Jack Dorsey and Ark Invest CEO Cathie Wood. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Elon Musk on Wednesday detailed…
• Cryptocurrencies are taking the developing world by storm, with more users now in Nigeria than in the US - 2 experts lay out how bitcoin is changing emerging-market finance Globe Robert Alexander Insider spoke to James Butterfill from CoinShares and Marius Reitz from Luno in Africa about bitcoin in the developing world. El Salvador recently made bitcoin legal tender and other governments may follow suit. Cryptocurrencies can bring finance to the "unbanked" and help counter volatile domestic currencies, the two experts said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrencies have made it into the mainstream this year, with crypto-backed bank cards, investment…
• Bitcoin slides below $30,000 as fears mount over surging COVID-19 cases - and now trades 55% below its record high STR/NurPhoto via Getty Images Bitcoin dropped below $30,000 for the first time since June 22 on Tuesday. As global markets were shaken by the spread of the Delta variant, other digital assets tumbled too. Cryptocurrencies have been trading lower since China banned the use of digital assets as currency. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin slid below $30,000 on Tuesday for the first time in about a month as rising fears of…
• Bitcoin edges lower for its worst weekly performance in over a month as as cryptocurrencies struggle to recover from heavy sell-off Representations of virtual currency bitcoin are placed on US dollar banknotes taken May 26, 2020. REUTERS/Dado Ruvic Bitcoin edged lower Friday to its worst weekly performance in more than a month, nearing $30,000. Other major cryptocurrencies are also trading lower. A myriad of headwinds have battered crypto, from Fed Chair Powell's comments on regulation to Binance's ongoing scrutiny. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin slipped Friday to clock its worst weekly performance…
• The US has been sweeping up shares of the bitcoin hashrate as miners exit China Bitcoin mining uses vast amounts of electricity Olga Maltseva/Getty Images The US's share of the total bitcoin hashrate increased from 4.6% to 16.8% from September 2019 to April 2021. During the same time period, China's share of the hashrate declined from 75.5% to 46%, before mining restrictions were even imposed. Data show the ongoing migration of bitcoin mining out of China. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. New data from the Cambridge Centre…