Over the past few months, it seems like everyone has been chatting about cryptocurrency. Some believe that cryptocurrency is the next big thing, while others suggest that it might be a risk in the near future. This week brought big news for cryptocurrency. Anyone, who wishes to trade in Bitcoins or Ethereum, should be well aware of the news and attempt to use that news to their advantage. So, what happened in the world of cryptocurrencies this week? You’ll find out below.
Robinhood Embraces Bitcoin And Ethereum
Robinhood just happens to be one of the most popular trading platforms for those in the United States. The trading platform is free, but it has always lacked cryptocurrencies. That changed this week! On February 22nd, Robinhood launched Bitcoin and Ethereum trading for users in five states. Those residing in California, Missouri, Montana, New Hampshire, and Massachusetts can now trade Bitcoin and Ethereum for free using the Robinhood mobile application.
It is likely that the platform will continue expanding in the near future. In the future, there is a possibility that Robinhood may even allow you to invest in Forex.
Bank Of America Shuns Cryptocurrency
This week, Bank of America submitted its annual filing with the Securities and Exchange Commission. That filing gave a great idea how Bank of America views cryptocurrencies. In that filing, the company said it looked at cryptocurrencies as speculative or risky products. The company even went as far as to outline specific risks posed by today’s virtual currencies. Under a subsection named “Risk Factors”, the company mentioned cryptocurrencies and admitted it felt they could pose problems for their business. The company insists that cryptocurrencies could be used for international money laundering.
There is a pretty good chance that other big banks feel the same way as Bank of America.
Tesla Gets Hijacked
Cryptojacking has become increasingly popular during the past few months. This is a process, in which hackers gain access to a computer network to mine cryptocurrencies. This week, Tesla became a victim of such an attack. According to Redlock, hacked gained access to Tesla’s computer system to mine for cryptocurrencies. The attack involved accessing a cloud system. Hackers gained access to non-public information from Tesla, while also using their resources through the Amazon Web Services environment. The vulnerabilities, which allowed the attack to happen, have since been addressed.
Iran’s Incoming Cryptocurrencies
During the past few months, several countries have talked about developing their very own cryptocurrencies. Venezuela was the first. Now, Iran is thinking about developing its own as well. Early Wednesday, the country’s Ministry of Information and Communications Technology tweeted that the state-run Post Bank was working through the process of developing a cryptocurrency. It was also reported that the Central Bank of Iran was working with other institutions to control digital currencies in the country. Also, reports now suggest that North Korea may be involved in cryptocurrency mining.
There is a possibility that such currencies will use digital currencies as a way to avoid sanctions from theUnited States and other countries.