Summary: Tom Loverro has recommended crypto investors have enough cash to get through the next 30 to 36 months. According to his analysis, the crypto markets could go lower in 2022 and be flat in 2023. He warns that previous Bitcoin and crypto cycles are not a determinant of the future of the markets. Former …
Monthly archives: June 2022
Uzbekistan approves crypto mining under special guidelines
Uzbekistan is warming up to cryptocurrency mining operations. The National Agency of Prospective Projects (NAPP) in Uzbekistan has issued guidelines that will govern crypto mining operations. However, the country will only permit mining activities from solar energy companies to mine Bitcoin and other cryptocurrencies. Uzbekistan approves crypto mining The government published a normative act on …
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Cardano launches new wallet feature to lower transaction costs
Typhon wallet on the Cardano wallet has received an upgrade that will support transactions on multiple addresses. This shows that users will now have a chance to send with ADA or any other supported cryptocurrencies to several recipients in one transaction. Cardano’s new wallet feature The Typhon wallet aims at improving user experiences and reducing …
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Russia lawmakers approve a law exempting digital asset issuers from VAT payments
Russia seems to be loosening its stance on regulating the cryptocurrency market. Lawmakers in the country have approved a draft law that could exempt digital asset issuers from making value-added tax payments. Russia exempts digital asset issuers from value-added tax According to Reuters, the draft law was approved after second and third readings at State …
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It’s time to refocus on crypto infrastructure, CoinShares CSO says
The ongoing cryptocurrency market decline is the right time for the community to strengthen infrastructure fundamentals, according to the chief strategy officer at the European digital asset manager CoinShares. CoinShares is one of the largest digital asset investment firms in Europe, with net assets exceeding $260 million by the end of 2021. According to CoinShares’ …
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CZ: Many Might Laugh at Michael Saylor Now For Buying More Bitcoin, But He’ll Get the Last Laugh
Summary: CZ believes Michael Saylor will get the last laugh in time over MicroStrategy’s consistent Bitcoin purchases. CZ was responding to news of MicroStrategy buying an additional 480 Bitcoins for $10 million. MicroStrategy now holds 129,699 Bitcoin at an average entry price of $30,664. However, Peter Schiff believes that Mr. Saylor bought a small amount …
North Korea Leads Crypto Crime Scene With $1.59 Billion In Stolen Funds
Summary: Coincub’s latest crypto crime ranking tips North Korea as the top country for illicit activities. The analysis and research firm estimated over $1.5 billion in proceeds. Chainalysis and U.S. authorities tagged the $600 million Ronin exploiters as North Korean hacker group Lazarus. The U.S. clinched second place with 14 cases accounting for billions in …
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Compass Mining denies allegations of $1.2M unpaid electricity bill, CEO, CFO resign
Compass Mining, a hosting company offering managed mining services to Bitcoin (BTC) miners, announced that both its CEO and CFO have resigned. The company said it has gone through “multiple setbacks and dissapointments” that have detracted from its mission. The ongoing restructuring will help it regain the trust of its shareholders and users, Compass said …
North Korea’s ‘illicit’ crypto holdings heavily impacted by market crash
The recent crypto market crash has left North Korea with millions of dollars in losses on its stolen crypto assets and could affect funding for its weapons program, Reuters reported. Bitcoin’s (BTC) recent crash to under $20,000 means the sanction-ridden country has accrued millions in unrealized losses on its illicit crypto funds. North Korea’s stolen …
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Court orders liquidation of Three Arrow Capital
A British Virgin Islands Court has ordered the liquidation of Three Arrows Capital (3AC), plunging the crypto hedge fund into a deeper crisis, Sky News reported. According to the report, Teneo Restructuring has been mandated to handle 3AC’s restructuring. Earlier in the week Voyager Digital issued 3AC with a notice of default after failing to …
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Saylor’s faith in Bitcoin unshaken as MicroStrategy buys another 480 BTC
U.S.-based business intelligence firm MicroStrategy has added 480 Bitcoin (BTC) to its coffers despite the bear market, the company announced on June 29. In a Form 8-K filed with the U.S. Securities and Exchange Commission, MicroStrategy said it purchased the tokens between May 3 and June 28. The company bought the 480 BTC for $10 …
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Russia approves tax exemptions for issuers of cryptocurrency
The lower house of the Federal Assembly of Russia approved a draft bill on June 28 that could exempt cryptocurrency issuers from Value Added Tax (VAT). Sanctions are hurting “unfriendly nations” more than Russia The decision to cut Russia from the SWIFT system in late February put pressure on the Russian financial system. However, there …
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SBF claims smaller crypto exchanges will fail soon
FTX founder Sam Bankman-Fried told Forbes that some third-tier crypto exchanges are already insolvent and will fail soon. Bankman-Fried declined to specify these exchanges and said: “There are companies that are basically too far gone and it’s not practical to backstop them for reasons like a substantial hole in the balance sheet, regulatory issues, or …
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Biggest Movers: AVAX, SOL Slip by 14% on Wednesday, as Prices Near 1-Week Low
SOL was down by as much as 14% on Wednesday, as prices fell close to a one-week low earlier today. In addition to this, AVAX saw a similar decline, as the token dropped for a fourth consecutive session, with prices moving below $20. Solana (SOL) SOL was lower in today’s session, as prices fell for …
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FTX CEO Sam Bankman-Fried Warns More Crypto Company Insolvencies Are Coming
In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things …
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