A group of fraudsters actively involved in defrauding people by launching Ponzi crypto schemes was exposed by the National Police of Ukraine (NPU). NPU revealed that the network was operating through multiple offices, established several customer service centers, and employed thousands of people mainly from the EU member states. International Criminal Organization Busted In Ukraine … Read more
Missing Funds Belonging to FTX’s Customers Individuals closely linked with FTX’s trauma have noted customers’ funds (aggregating up to US$ 1 Billion) gone missing from the collapsed exchange. Founder of FTX, Sam Bankman-Fried, was reported to have transferred crypto funds amounting to US$ 10 Billion into Alameda Research. The receiving company too was founded by … Read more
After setting a new record low in the previous week, Grayscale’s Bitcoin Trust (GBTC) dropped to yet another record low, primarily because of the price of Bitcoin. YCharts revealed data showing that the GBTC that tracks Bitcoin’s price had been discounted by 42.69% as of Friday morning. How it works GBTC was first introduced in … Read more
So far, the year 2022 has proven to be a roller coaster ride for Bitcoin (BTC) but November proved to be even more aggressive. Bitcoin Bulls Attempted a Rebound Bitcoin started the month of November on a high note as its price kept surging. The price of BTC continued rising against all the odds but … Read more
Last week, the FTX crypto exchange filed for bankruptcy and this week has been all about the fallout of its collapse. Genesis Global Trading is the latest in the series of companies to have announced that its lending arm is pausing withdrawals and new loan originations. The announcement from the crypto investment bank was made … Read more
A variety of benefits, that CBDCs have the potential to offer, were explained in detail by Netherlands Queen, Her Majesty Maxima. Her Majesty believes that for offering support to minimum income earners, the digital euro could be immensely beneficial. Digital Euro would further help them in exploring other financial services with which they are not … Read more
The downfall of the FTX crypto exchange has fueled concerns about market contagion and this prompted the boss of Crypto.com to take to YouTube to reassure users. On Monday, Kris Marszalek, the chief executive of Crypto.com, informed the users of his exchange that their balance sheet was quite robust and they were not engaged in … Read more
Binance’s FTX Holding Undergoes Liquidation Changpeng Zhao (CZ), CEO of Binance, made a revelation on Twitter that his company’s FTX (FTT) tokens’ holding is undergoing a liquidation process. According to CZ, his company got $2.1 Billion while departing from FTX equity in 2021. The said money was received by Binance in the shape of FTT … Read more
According to European officials, the European Commission is gearing up to discuss the adoption of a common tax regime with its member states that will apply to crypto assets. The national treasuries will participate in the talks that are expected to begin in the next year and their aim is to put an end to … Read more
Digital Asset Group’s Bitcoin mining company Foundry Digital has announced a Bitcoin mining education drive initiative. The training program has been launched to educate and train Bitcoin miners further so that top-class technicians in Bitcoin mining can be produced with the help of the initiative. The initiative will commence the education program on 7th November … Read more
Binance’s top executive does not seem to be convinced on the aspect that cryptocurrencies’ existence might be in danger because of CBDCs. He said that in fact, the governments would be validating the concept of blockchain on the pretext that they too are using it for CBDC purposes. Binance’s CEO Not Convinced over CBDC Posing … Read more
A fresh legal framework has been proposed by Russian lawmakers which aim at legalizing all sorts of cryptocurrencies in the country. The proposed law also suggests that though crypto can be mined in the country. However, their circulation will be made across the border and also within specific regimes for experimental purposes. Russian Parliament Drafts … Read more
Exactly 3,853 top-of-the-line Bitcoin mining rigs have been bought at an approximate value of $6 Million by Cleanspark from Bitmain. According to Cleanspark, the company had acquired from than 26 thousand rigs since June this year. Massive Acquisition of Bitcoin Mining Rigs About a month ago Cleanspark, which is a Bitcoin mining entity, informed us … Read more
One of the largest digital currency asset managers in the world, Grayscale Investments has shared the results of a survey it recently carried out. National Survey Grayscale Investments announced that it recently carried out a national survey that has provided assurance to the cryptocurrency community. According to the latest national survey, the Republicans and the … Read more
Pick n Pay, a major grocery retail giant in South Africa has recently made an announcement for the customers. The retail giant has announced that it now accepts cryptocurrencies from customers. Pick n Pay Accepts Bitcoin Pick n Pay announced on November 1 that it is now accepting cryptocurrencies from customers for in-store purchases. The … Read more
If it was reported in 2021 that the number of cryptocurrency ATMs has been rising around the world, it would be considered quite normal. However, it comes as a huge surprise if the same claim is made in 2022. This is because, in the year 2021, the cryptocurrency industry was growing enormously big. Almost every … Read more
On Friday, Binance confirmed that the CEO would be participating as an equity investor while Elon Musk takes over Twitter. In an email statement, Changpeng Zhao, the CEO of Binance, expressed enthusiasm for the upcoming move. This comes after Elon Musk completed a $44 billion acquisition deal for Twitter He said that the exchange was … Read more
An up and coming crypto launchpad, Team Finance, faced a severe $14.5 million exploit, which, according to the firm, occurred due to an issue in the migration feature. Team Finance Pauses Activities after Major Exploit In a tweet, Team Finance explained that ever since they spotted the exploit, they’ve stopped all activities. Additionally, the firm … Read more
India is gearing up to take up the presidency of the G20 and Nirmala Sitharaman, the Finance Minister, said that she would love to highlight that the country is moving forward quickly where digital financial technology is concerned. Digital technology The Indian finance minister spoke on November 1st at the Indian Council for Research on … Read more
As the crypto market continues to shrivel from its otherwise gargantuan size just a few months ago, every little loss can hurt the platform as a whole. However, unfortunately for the crypto market, the losses don’t stop coming, and they might not stop coming for some time now. Fiscal policies surrounding various financial markets like … Read more
