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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.

Mike Novogratz Bitgo

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.

Bitcoin cash breakthrough

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.

Bahamas digital currency

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.

india argentina crypto

Flipsider:

  • These news are flipsides themselves. While somebody bans, the others are looking for opportunities.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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