Data shows the price of Bitcoin has broken above the 0.55 Mayer Multiple level, below which the crypto has historically formed bottoms. Bitcoin Has Now Left The Zone Below 0.55 Mayer Multiple As per the latest weekly report from Glassnode, the BTC price has escaped above the Mayer Multiple bottom zone. The “Mayer Multiple” is …
Continue reading “Bitcoin Bounces Off Historic “Mayer Multiple” Bottom Zone”
Chief Executive Officer of Binance Changpeng Zhao has filed a lawsuit against Bloomberg’s Hong Kong partner Modern Media CL for defamation. The chief is suing over a translated Chinese language article that portrayed Binance Exchange as a “Ponzi scheme.” This refers to the June 23, 2022 publication of Bloomberg’s Businessweek, with the title: “Can Crypto’s …
Continue reading “Binance Files Lawsuit Against Bloomberg’s Hong Kong Partner For Slander”
Large Uniswap (UNI) holders are heavily accumulating the crypto asset, according to the analytics firm Santiment. Santiment notes that addresses holding between 10,000 and one million Uniswap have added 10.74 million more UNI to their holdings from July 8th to July 24th, a trove representing 1.1% of the asset’s total supply. According to the analytics …
FTX CEO Sam Bankman-Fried is responding to claims that his company’s proposal to bail out customers of embattled crypto brokerage firm Voyager Digital is predatory in nature. Voyager Digital filed for bankruptcy earlier this month after crypto hedge fund Three Arrows Capital (3AC), defaulted on a $650 million loan. As Voyager faces insolvency, FTX announced …
A widely followed analyst says that the crypto market is set to see a minor pullback following a rally last week. The pseudonymous crypto strategist Rekt Capital tells his 324,200 Twitter followers that Bitcoin (BTC), Ethereum (ETH) and other altcoins will likely shed some of their gains as they attempt to break resistance levels. “After …
Macro economic expert Raoul Pal says Ethereum (ETH) is set for a series of supply shocks that could help the second largest crypto asset by market cap vastly outperform Bitcoin (BTC) once again. In a new video update, the Real Vision CEO says that Ethereum’s shift to a proof-of-stake system – which is tentatively set …
The now renowned Dark Knight of Terra, FatManTerra, has announced a class action lawsuit through US solicitors, Scott+Scott in an attempt to recoup UST investments following the collapse of the Terra ecosystem. Lawsuit Sign-Up Link Announcement for UST Victims On May 11, as UST depegged, I created an account named FatMan and posted a proposal …
Total stablecoin supply contracted to $151.3 billion in the second quarter of 2022, a drop of 18.8% or $35.1 billion over Q1, according to a report by Arcane Research. This is the largest quarterly drop in supply in the history of stablecoins, the report states. However, the research, which studied the 13 largest stablecoins, showed …
Continue reading “Stablecoin supply saw the largest quarterly contraction in history in Q2”
The International Monetary Fund (IMF) said the recent crypto market crash posed no threat to the wider financial stability of the world economy. The July 26 report “Gloomy and More Uncertain” states that the rising inflation rate and the possibility of a recession caused by the Ukraine war and continued COVID lockdowns have left the …
Continue reading “Crypto crash did not adversely affect broader financial system, IMF says”
Cryptojacking in the finance sector went up by 269% in the first half of this year, cybersecurity firm SonicWall reported. The finance sector, which used to experience nearly the least numbers of cryptojacking incidents, faced the highest number of attacks this year, the report stated. In fact, the number of cryptojacking attacks in the finance …
Continue reading “Cryptojacking in finance soared 269% in H1 2022”
Tether’s (USDT) liquidation of the $840 million loan it gave to Celsius could be under scrutiny under bankruptcy law to determine if the process was valid, the Financial Times reported July 26. The stablecoin issuer had revealed that it recouped its loan to Celsius by selling the Bitcoin (BTC) the embattled firm had pledged as …
Continue reading “Tether’s $840M Celsius loan liquidation poses legal troubles”
A bipartisan bill from Senators Patrick Toomey (R-Pa.) and Kyrsten Sinema (D-Ariz.) proposes tax exemptions on crypto transactions up to $50. If passed, the Virtual Currency Fairness Act will unburden U.S. crypto users from reporting digital asset transactions below the threshold amount. Senator Toomey said the current tax rules on cryptocurrencies hinder the integration of …
Continue reading “US Senators propose bill to exempt crypto transactions under $50 from taxation”
Philippines-based think tank Infrawatch PH has petitioned authorities to investigate Binance’s operation in the Asian country. In a July 25 letter, the think tank alleged that Binance operated in the country without a license. It continued that the crypto exchange has no known office in Manila and uses third-party companies to employ citizens of the …
Continue reading “Philippines think tank Infrawatch wants Binance banned”
On Tuesday, a newly published report details that the cryptocurrency exchange Kraken is under federal investigation for allegedly violating U.S. sanctions, according to five people familiar with the matter. The unknown sources explained that the inquiry into Kraken started in 2019, and it’s accused of allowing users from sanctioned countries like Iran access to the …
An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him. Artist Who Sold Over 3,500 NFTs Prosecuted for Money Laundering in Latvia …
Continue reading “Latvian Artist Threatened With Prison for Money Laundering Through NFTs”
