In a new twist to the Africrypt saga, two different reports have made contradicting claims about the whereabouts of Raees and Ameer Cajee, the two directors of the collapse bitcoin investment firm. However, both reports suggest the Cajees brothers had planned their escape prior to the alleged hacking incident in April. Vanuatu or Tanzania In …
Yearly archives: 2021
Bitcoin’s Rally to $40,000 Triggers Over $1,000,000,000 in Liquidations
Tens of thousands of crypto traders had their positions liquidated as Bitcoin abruptly rallied to above $40,000. Data from the cryptocurrency futures trading and information platform Bybt reveals that on July 26th, $964.23 million worth of short positions across all crypto assets were liquidated as Bitcoin ignited a strong rally from around $35,000 to above …
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Bitcoin price seeks higher low as trader forecasts $45K breakout within weeks
Bitcoin (BTC) traded steady on July 27 after a surge above $40,000 resulted in higher levels broadly holding. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView All eyes on Bitcoin higher lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $37,000, around 8.8% below the peak of Monday’s gains. Its first trip above $40,000 …
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Kazakhstan to reportedly allow banks to process crypto purchases
The Kazakhstan government is reportedly planning to officially authorize local banking institutions to open bank accounts for cryptocurrency transactions. Several banks in Kazakhstan will soon be officially approved to service companies and businesses providing exposure to cryptocurrencies like Bitcoin (BTC), local news channel Khabar 24 reported Sunday. Citing executives from the Data Center Industry and …
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India to use Ethereum blockchain to verify diploma certificates
The Government of Maharashtra recently announced a partnership with Indian blockchain startup LegitDoc to implement a credentialing system powered by Ethereum (ETH) for providing tamper-proof diploma certificates. In an effort to counter the rise in document forgery, the Maharashtra State Board of Skill Development (MSBSD) goes against India’s crypto ban narrative to use Ethereum-based public …
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Institutions continue offloading BTC exposure despite price rebound
Investments in institutional Bitcoin products have continued to decline this past week. In its July 26 Digital Asset Fund Flows report, CoinShares notes institutional crypto products have experienced outflows for the third consecutive week, with $28 million exiting the sector during the week ending July 23. As such, the week saw a 170% increase in …
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Sentiment Turns Bullish As Bitcoin Rockets Past $38K – eToro Crypto Roundup
In an explosive market recovery, Bitcoin has blasted past $38K to make over 25% weekly gains. The bearish mood began to shift on Wednesday, when Elon Musk appeared at the “The B Word” conference and made clear that he has not lost his affection for Bitcoin. Then on Friday, news that Amazon is hiring a …
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Binance and Russian museum to tokenize Da Vinci and Van Gogh paintings
Binance’s NFT marketplace has announced it is teaming up with the Saint Petersburg-based State Hermitage Museum to issue tokenized collectibles depicting the works of renowned artists including Leonardo da Vinci and Vincent van Gogh. On July 27, Binance revealed it is partnering with the museum to create and issue the nonfungible tokens at the end …
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Chicago Bulls team up with Shopify to launch NFT series
The NBA’s Chicago Bulls have launched NFTs depicting six championship wins from the 1990s via leading e-commerce platform Shopify. Shopify is a multinational firm that provides website-based storefronts and payments infrastructure. Shopify president, Harley Finklestein, announced the NFT drop on Twitter earlier today. If you’ve spent 1 minute on the internet this year, you’ve seen …
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Kaseya recovers data stolen in ransomware attack with mysterious decryption tool
IT software provider, Kaseya, has announced it is providing its clients with a decryption tool to recover customer data that was locked in a ransomware attack earlier this month. In a July 26 notice on its website, the global technology firm stated it has been assisting its customers with the restoration of their encrypted data in …
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Amazon denies rumored plans for Bitcoin support
Amazon has refuted recent speculation it may be readying to support Bitcoin payments, asserting it currently has no plans for BTC. According to a Reuters report on July 27 citing a spokesperson from the firm, Amazon remains interested in the crypto industry but has no specific plans to onboard digital assets for payments just yet: …
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What bear market? Crypto firms raised over $4.4 billion in Q2 2021 alone
US Feds want to tame ‘wildcat’ stablecoins like Tether and USDC A research paper titled “Taming Wildcat Stablecoins,” published in the Social Science Research Network (SSRN) by a professor of finance at Yale, Gary Gorton, and the US Federal Reserve attorney Jeffery Zhang, urges supervision of stablecoins. 2 min read → Go to Source
Gone are the 100x BitMEX days: FTX, Binance to restrict leverage to ’20x’
In a recent effort towards protecting their users from incurring more losses, two leading crypto exchanges, FTX and Binance have announced that their users will no longer have access to leverage their trades by up to 100 times again. Binance, FTX announces leverage cut Sam Bankman-Fried, the CEO of FTX, was the first to make …
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Tether (USDT) faces criminal probe in the US, report says
Tether (USDT) FUD surrounding the stablecoin’s issuance could have a new chapter in the form of criminal charges, which would mark a major development in the US government’s crackdown on crypto. The US Department of Justice (DoJ) investigation is focused on conduct that occurred years ago, scrutinizing whether Tether failed to disclose to banks that …
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Market Strategist Says Bitcoin’s Best Days Are Ahead, Won’t See Restrictive Fed Policy Anytime Soon
The founder of investment management firm Michael Lee Strategy says that “the best days of bitcoin are definitely ahead of it,” expecting the cryptocurrency to “make all-time new highs.” The strategist further says that it will be a long time “before we see any sort of taper or any sort of restrictive policy from the …