Losses of traders due to the drop of the cryptocurrency market reached $1.9 billion, and Craig Wright compared BTC with a financial pyramid
Losses of traders due to the drop of the cryptocurrency market amounted to $1.9 billion
During the day on 19 February 2021, traders lost $1.9 billion. According to bybt experts, this happened as a result of a sharp drop in the digital asset market. Exchanges forcibly liquidated the margin positions of about 302 thousand clients of crypto platforms.
Earlier, the price of bitcoin broke the $49,000 level. Analysts linked the growth of the first cryptocurrency to the news that Counterpoint Global, the investment arm of Morgan Stanley, plans to invest in BTC.
However, having approached the $50,000 mark, Bitcoin began to fall. According to Coinmarketcap data, BTC, ETH and USDT, among the top three most popular cryptocurrencies, are in the red.
Craig Wright compared Bitcoin to a pyramid scheme
Australian businessman Craig Wright, who claims to be the creator of the first cryptocurrency, compared BTC to a pyramid scheme. He drew a parallel with Bernard Madoff’s $65 billion Ponzi scheme.
Wright believes that the holders of the cryptocurrency will sell BTC and bring down its rate. The entrepreneur also said that the main cryptocurrency, whose supporters consider it digital gold, failed as a payment instrument.
Previously, the entrepreneur criticized DeFi projects and stablecoins. According to Wright, these products are fraudulent and their creators are engaged in illegal activities.
BitPay added its prepaid card to Apple Wallet
BitPay has added its prepaid Mastercard to Apple Wallet. Clients of a cryptocurrency service from the United States can now pay using cryptocoins. They also got the opportunity to withdraw the equivalent of cryptocoins in fiat from ATMs.
“We have thousands of BitPay Wallet customers using the BitPay card who are always looking for new places and ways to spend their cryptocurrency. The addition of Apple Pay — and soon Google Pay and Samsung Pay — will make it easy and convenient to use the BitPay card in more ways: from everyday shopping to luxury purchases, ”said Stephen Pair, CEO of BitPay.
By the end of March, the service plans to add support for Samsung Pay and Google Pay. BitPay supports BTC, ETH, BCH. In addition, the service works with stablecoins such as USD Coin, Gemini Dollar, Paxos Standard and Binance USD.