A retirement account trust company is suing the crypto exchange Gemini for failing to have the “proper safeguards in place” to protect its customers’ assets. IRA Financial Trust alleges hackers stole $36 million in crypto assets belonging to their customers’ retirement accounts which were reportedly in Gemini’s custody. The South Dakota-based trust company has pledged …
Monthly archives: June 2022
Wall Street sends BTC price to $30.8K as latest US dollar uptick fails
Bitcoin (BTC) showed strength at the June 8 Wall Street open as impatient traders waited for a trend to emerge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin still in “no trade zone” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD jumping to near $30,850 after the opening bell, helping claw back some of the …
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Edge announces confidential no-KYC digital currency Mastercard
On Wednesday, self-custody crypto exchange Edge announced a no-Know Your Customer (KYC) debit Mastercard that can be funded with Bitcoin and other digital currencies. Without KYC verification, users would be able to spend their crypto at more than 10 million merchant terminals in the United States. Currently, one can fund the Edge Mastercard using Bitcoin …
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Thailand’s crypto islands: Working in paradise, Part 1
Walking into Remote and Digital’s La Casa co-working space on the tropical island of Koh Pha-ngan, you wonder how anybody gets any work done. I sip a cocktail and wait for my burrito as James Brown plays in the background.There’s a real palm tree growing at the edge of the cafe, and behind it sits …
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US central bank digital currency commenters divided on benefits, unified in confusion
In January, the United States Federal Reserve Board of Governors released a discussion paper on a potential U.S. central bank digital currency (CBDC) titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” The comment period for the paper ended May 20, with the Fed receiving over 2,000 pages of comments from …
Department of Justice (DoJ) asks for international cooperation in combating crypto crimes
A new report by the Department of Justice has called upon the global community to work together in dealing with how criminals use digital assets. The DoJ has suggested that it will also equip foreign nations with the capacity to create the infrastructure needed to fight crypto crimes. DoJ calls for global cooperation The recommendations …
Weekly inflows into Bitcoin-based products record notable gains
The cryptocurrency market could be down, but this has not affected inflows to crypto-based products. In May, the weekly inflows into crypto funds were at an average of $66.5M. Compared to the $49.6M weekly inflows reported in April, this was a notable increase. Weekly inflows to Bitcoin funds increase The chief investment officer at IDX …
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Binance US opens staking for several cryptocurrencies
Binance US, the US division of the Binance cryptocurrency exchange, has unveiled crypto staking services. Through this service, the exchange expects it to be more competitive than its rivals in the US, including Coinbase. Binance US launches staking services Binance US customers will now have access to staking services open to multiple cryptocurrencies. This move …
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Japan’s Crypto Exchange Supervisor Reasseses Token Listing Policy
Summary: Prime Minister Fumio Kishida suggested the current process stifles the crypto economy. The JVCEA could implement a new system by the end of the year. Token listings in Japan take as long as 6 months or more before approval is issued. A new policy could incentive foreign exchanges like Coinbase and FTX. Updated listing …
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OpenSea: Complete Beginner’s Guide to the Largest NFT Marketplace
The OpenSea platform is perhaps the most well-known entry point into the NFT sector. As an investor, you might be contemplating it as the marketplace through which you can learn about and participate in the area. However, the initial steps might be difficult for many, according to many crypto advisors. Therefore, you must have a …
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What is CeFi? Centralized Finance on Blockchain
The financial world has discovered a new way of trading thanks to the growth of blockchain platforms and the advent of cryptocurrencies in the technological sphere. Although bitcoin was founded with the intention of decentralizing the financial trading system, it was solely utilized for cryptocurrency trading. So, in addition to crypto trading, centralized and decentralized …
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Algorand Price Prediction: ALGO Has Continued to Trend Downward
Algorand Price Prediction – June 8 There are still traces that the ALGO/USD market has continued to trend downward as it keeps a financial record of its all-time high and low between $3.28 and $0.1924 value lines over the last two years. Presently, its worth of trading value stands around $0.40 at a 1.98 percentage …
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Ethereum (ETH) Next Stop at $2,200? Top Crypto Analyst Explains How ETH Kicks Off Next Rally
A popular crypto analyst is exploring buyer interest at different price levels to see where leading smart contract platform Ethereum (ETH) is headed next. In a new strategy session, the anonymous host of InvestAnswers tells his 440,000 YouTube subscribers that, despite a rough start to 2022, ETH has held firm at $1,720 and has since …
Major South Korean crypto exchanges delist Litecoin
Major cryptocurrency exchanges in South Korea have delisted Litecoin (LTC) weeks after flagging its privacy-focused MimbleWimble (MWEB) upgrade. In a public announcement on Wednesday, Upbit cited the Act on the Reporting and Use of Specific Financial Transaction Information, which prohibits anonymous transactions as the key reason for ending support for LTC. The delisting comes in …
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IMF recommends eco-friendly CBDCs and non-PoW mechanisms for payments
An International Monetary Fund (IMF) study on energy consumption revealed the importance of design choices within the crypto ecosystem to build an environmentally friendly mainstream payment system. In the study entitled “Digital Currencies and Energy Consumption,” the IMF examined the energy consumption of crypto assets based on their distinct design elements to evaluate the ideal mechanism for developing central …
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