Uncategorized Archives - Page 9 of 131

MondayOct 21, 2024 9:00 am

Crypto is Poised to Exert Influence on the Upcoming Polls as Donations Reach $130m

Utah Republican Congressman John Curtis has emerged as a top contender for the Senate seat being vacated by Mitt Romney, with significant backing from the cryptocurrency industry. Curtis, who previously worked in telecommunications, has taken an unconventional path to becoming a favorite of crypto advocates. The 64-year-old Congressman noted that legislators need to have a better grasp of the issues they regulate, particularly when it comes to complex topics like cryptocurrency, during a recent event in Salt Lake City. Curtis’ favorable stance toward cryptocurrency has made him popular among digital currency advocates. The crypto community has provided substantial financial support…

FridayOct 18, 2024 9:00 am

Data Shows 94% of BTC Holdings Are Profitable

The number of Bitcoin (BTC) addresses showing a profit has seen a major jump following Bitcoin’s recent price gain, which pushed it above $65,000. According to IntoTheBlock’s data, more than 50.67 million BTC addresses bought the digital currency for less than $65,500, representing around 94% of all Bitcoin holders. On the flip side, approximately 6% of BTC addresses—roughly 3.37 million—purchased the crypto at around $68,139, holding a collective volume of 1.58 million Bitcoins. Out of the total, more than 80,000 active BTC addresses are currently in profit, while approximately 247,000 addresses are at the breakeven point. In contrast, only 3,440…

WednesdayOct 16, 2024 9:00 am

SEC Charges Money Makers with Fraud for Misleading Cryptocurrency Investors

The U.S. Securities and Exchange Commission (SEC) recently filed fraud charges against nine people and three market makers for their roles in manipulating the trading of several cryptocurrency assets offered to retail investors as securities. It is alleged that the defendants planned fictitious trading activities to trick investors into believing there was real interest in the assets. The SEC said that by giving the impression of a working market, these efforts broke securities rules and harmed ordinary investors. According to the regulator, Vy Pham, Nam Tran, Manpreet Singh Kohli, Maxwell Hernandez and Russell Armand hired Gotbit and ZM Quant to…

MondayOct 14, 2024 9:00 am

Emerging Markets Could Hold Key to Crypto’s Future

Bitcoin (BTC) has seen little movement over the past few months. After a strong start to 2024, it has largely leveled off, trading between $56,000 and $62,000 since July. This stability contrasts sharply with the first half of the year, when the cryptocurrency jumped by 45%, largely fueled by U.S. spot ETFs. Market watchers are now eager to see what might trigger a shift in Bitcoin’s performance. Most are paying close attention to key developments anticipated between December and early next year. Broader economic factors, such as changes in U.S. interest rates, are also seen as important. Traders are optimistic…

FridayOct 11, 2024 9:00 am

UN Reveals Southeast Asian Criminal Syndicates Leverage Crypto, Telegram

Southeast Asian criminal organizations are increasingly using Telegram to facilitate global online scams, defrauding billions from unsuspecting victims, according to a new UN Office for Drugs and Crime (UNODC) report. The syndicates, many of which operate on an international scale, primarily rely on cryptocurrency for their illegal activities, particularly Tether’s stablecoin USDT. The report also highlights deepfake technology as another major technological development that has been aiding criminal networks. Telegram’s encryption and lack of moderation have made it a popular tool for criminal operations. According to UNODC, this platform has become a major hub for trading hacked data, including browser…

WednesdayOct 09, 2024 9:00 am

Cryptocurrency Exchange Gemini Announces Imminent Exit from Canada

Cryptocurrency exchange Gemini is preparing to shut down all customer accounts in Canada by the close of 2024. In an email sent to its Canadian users on Sept. 30, 2024, the exchange notified customers that accounts would be terminated on Dec. 31, 2024. Users have been given a 90-day window to withdraw their assets. “Starting Dec. 31, 2024, Gemini will be closing all Canadian customer accounts, with only a few exceptions. Therefore, your Gemini accounts will also be shut down,” the exchange stated in a statement. This move comes several months after Canadian financial regulators tightened crypto-trading platforms and exchange…

MondayOct 07, 2024 9:00 am

US Policy Pivot Prompts Chinese Ex-Minister to Call for Crypto Research

China’s former finance vice minister, Zhu Guangya, has urged the country to keep studying cryptocurrencies as the United States adopts a more favorable stance toward digital assets. Speaking at this year’s Tsinghua PBOC Chief Economists Forum, Zhu emphasized the importance of understanding the global development of cryptocurrencies, even in light of the risks and challenges associated with them. Zhu, who served in the role from 2010 to 2018, noted that cryptos play a vital role in the growth of digital economies and must be explored thoroughly. In his speech, Zhu noted that the U.S. has undergone a significant change in…

FridayOct 04, 2024 9:00 am

The US Cracks Down on Two Cryptocurrency Exchanges Over Money Laundering, Cybercrimes

The United States government recently sanctioned a pair of crypto exchanges and unveiled an indictment of a Russian individual, charging him with managing many money laundering operations for hackers. The two exchanges, PM2BTC and Cryptex, are alleged to have helped launder cryptocurrency potentially tied to cybercrime activities. The operation was taken as part of a coordinated effort with the Dutch FIOD, or Fiscal Intelligence & Investigation Service, and the Netherlands Police under an ongoing crackdown: Operation Endgame. As a result, the websites linked to the exchanges were seized, with their pages now displaying banners of seizure by law enforcement. Additionally,…

WednesdayOct 02, 2024 9:00 am

Binance’s CZ Walks Out of Jail — What Next?

Changpeng Zhao was formerly thought to be the richest inmate in the nation, with Forbes pegging his net worth at an astounding $61.6 billion. He spent four months in a low-security California prison after admitting that Binance, the cryptocurrency exchange he founded, did not comply with Know Your Customer (KYC) regulations, a breach of the Bank Secrecy Act. On Sept. 27, 2024, Zhao was released, two days ahead of his original release date, which had been set for Sept. 29. This early release was likely due to the original date falling on a Sunday, giving the prison authorities the option…

MondaySep 30, 2024 9:00 am

US SEC Claims XRP Rides on Speculation

A recent remark from the U.S. Securities and Exchange Commission (SEC) could influence people’s perceptions of XRP, the digital currency associated with Ripple. A document shared by Anderson, a well-known figure in the XRP community, shows that the SEC recognizes the importance of speculation in setting the cost and use of XRP. The document, a part of the SEC v. Ripple litigation, suggests that speculation appears to be a fundamental factor underlying XRP’s valuation rather than having a short-term impact on the price. One of the key elements in the SEC’s argument is an email from Ripple CEO, Brad Garlinghouse,…