India’s Enforcement Directorate (ED) says it has frozen 44.5 more bitcoins as part of an ongoing money laundering investigation into mobile gaming app E-nuggets. The authority has already frozen nearly 86 bitcoins at crypto exchange Binance relating to the same investigation. India’s ED Freezes More Bitcoin in E-nuggets Case India’s Enforcement Directorate (ED) announced Thursday
Month: October 2022
Some cryptocurrency exchanges continue onboarding Russian nationals despite the latest Western sanctions against Russia, but not without certain restrictions. In late September, Kazakhstan’s President Kassym-Jomart Tokayev witnessed the nation’s first regulated fiat-to-crypto purchase by a local commercial bank, the Eurasian Bank. The transaction involved a local crypto exchange called Intebix, which allows retail clients to
Ethereum’s Merge dominated the crypto world in September with promises of quicker transaction times, improved security and a 99% reduction in energy consumption. However, will you end up with a surprise tax bill too? Let’s examine. During the Merge event, the Ethereum mainnet — the then current proof-of-work (PoW) blockchain — merged with the proof-of-stake
San Francisco-based fintech firm Ripple has inched closer to victory in its ongoing battle with the U.S. Securities and Exchange Commission (SEC). On Oct. 21, Ripple General Counsel Stuart Alderoty confirmed on Twitter that they finally have the elusive documents after “18 months and 6 court orders,” though noted they remain confidential at the SEC’s
Bitcoin (BTC) showed no signs of a breakout on Oct. 20 as tantalizing sideways action dragged on. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Bitcoin range “congested and critical” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD firmly rangebound at around $19,000 overnight, moving only around $400 up or down. United States equities
The current crypto bear market has induced panic, fear and uncertainty in investors. The dire situation started when the global market capitalization of crypto dropped below the $2 trillion mark in January 2022. Since then, the price of Bitcoin (BTC) has decreased by over 70% from its all-time high of $69,044.77, reached on Nov. 10,
On this week’s episode of Market Talks, we welcome Muneeb Ali, co-founder of Stacks — a Bitcoin layer for smart contracts — and the CEO of Trust Machines, which is building the largest ecosystem of applications for Bitcoin and their underlying technologies. Ali has been working on internet protocols and distributed systems for over 15
Acting United States Federal Deposit Insurance Corporation chairman Martin Gruenberg spoke on Oct. 20 about possible applications of stablecoins and the FDIC’s approach to banks considering engaging in crypto-asset-related activities. Although he saw no evidence of their value, Gruenberg conceded that payment stablecoins merit further consideration. Gruenberg began his talk at the Brookings Institute with an
Nubank, one of the largest digital banks in the world, has announced it will issue its own cryptocurrency during the first half of 2023. The currency, called Nucoin, will be issued on top of Ethereum with the help of Polygon, a second layer that allows users and developers to take advantage of lower fees, and
The take-off of digital gold has the potential to disrupt the industry to an unprecedented degree. Historically, gold has been used as a global currency as a hedge against inflation. It has also been serving as an investment venue (commodities), often preferred over other asset classes like equities or foreign exchange, particularly in conventional markets.
Bitcoin (BTC) sagged with United States equities at the Oct. 19 Wall Street open as markets awaited tech earnings. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Eurozone sees fresh all-time high inflation Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $19,000 after falling steadily overnight. Still trapped in a tight range, the pair
Bitcoin (BTC) worth over $600 million moved for the first time since the last bear market on Oct. 18, analysis has revealed. In a Twitter thread, monitoring resource Whalemap flagged a transaction involving 32,000 BTC. Buyer could be “willing to acquire” 32,000 BTC at $19,000 In the latest sign that the current spot price is
Decentralized finance is beginning to embrace a hot new phrase: “real yield.” It refers to DeFi projects that survive purely on distributing the actual revenue they generate rather than incentivizing stakeholders by handing out dilutionary free tokens. Where does this real yield come from? Are “fees” really a sustainable model for growth at this early
Kraken is the latest cryptocurrency exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union. On Oct. 19, Kraken sent out email statements to its Russian clients to announce that the exchange is halting services to its Russian customers. “Due to the new European legislation, we have
Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoin’s (BTC) relative discount to its high hash rate in October — the largest since the first quarter of 2020 — could soon see Bitcoin return to “its propensity to outperform most assets.” In an Oct. 19 Twitter post, the Bloomberg analyst suggested that Bitcoin’s ever-increasing hash rate
Fidelity Digital Assets, the crypto wing of $4.5 trillion asset manager Fidelity Investments, is set to offer Ether (ETH) custody and trading services to its institutional clients later this month. According to an email to Fidelity’s customers shared on Twitter, the crypto arm announced new “Institutional Ethereum capabilities” for institutional investors starting on Oct. 28, 2022.
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