Summary: South Korean authorities have launched a probe into the Bitcoin ‘Kimchi Premium.’ The investigations cite that the Kimchi Premium was used to make profits that were transferred abroad through illegal remittances. Authorities in South Korea have launched investigations into the famous Bitcoin ‘Kimchi’ premium. According to local reports, the Seoul Central District Prosecutor’s Office …
Monthly archives: July 2022
Total Stablecoin Supply Down By $35 Billion – Arcane Research
Summary: Stablecoin supply dropped by the end of the second quarter of 2022. Arcane Research data showed that the total supply was about $151 billion by Q2 of this year. The figure revealed an 18.8% drop over the last quarter, worth around $35 billion. It’s so far the largest supply drop in stablecoin history, per …
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Bitcoin, Ethereum trade at weekly lows as market anticipates FOMC interest hike
Bitcoin’s (BTC) price crashed to its lowest in the last seven days in the early trading hours of July 26, pulling the industry’s market cap to less than $1 trillion, per CoinMarketCap data. According to the data, Bitcoin lost over 4% of its value in the last 24 hours and traded for as low as …
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Titanium Blockchain CEO pleads guilty in $21M fraudulent ICO case
Titanium Blockchain founder and CEO Michael Alan Stollery pleaded guilty to conducting a fraudulent initial coin offering (ICO) touted to be worth $21 million. Stollery’s operation was unregistered and soaked in falsities Stollery, was charged by a Los Angeles district court earlier in June on one count of securities fraud. The prosecutor alleged that Stollery …
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White House alters the definition of a recession to avoid one
According to a new blog post released by the White House, an economic recession can no longer be quantified by its traditional definition of “two successive quarters of falling real growth”. What’s there in a name? As the global macroeconomic landscape continues to deteriorate, US GDP figures that are due later this week – and …
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Binance sues Bloomberg over ‘defamatory statements’ against CZ
Binance has filed litigation against Bloomberg Businessweek at the Southern District of New York District Court because of defamatory statements against the company and its founder Changpeng Zhao (CZ). The filing concerns an article published on June 23, titled, “Can Crypto’s Richest Man Stand the Cold?” covering the onset of crypto winter and Binance’s recent …
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Zebedee Inks Deal With Mobile Game Studio Viker to Add BTC Rewards to Solitaire, Sudoku, Missing Letters
Seven days after the financial technology and bitcoin payments firm Zebedee announced it secured a $35 million capital raise, the company has revealed a new partnership deal with the mobile game studio Viker. The two companies have enhanced three classic video games with Zebedee’s bitcoin reward mechanics which include “Solitaire,” “Sudoku,” and the game “Missing …
Biggest Movers: SOL Slips to 12-Day Low, as NEAR Drops by Nearly 12% on Tuesday
Solana fell for a second consecutive session on Tuesday, pushing the token to its lowest level in twelve days. The move comes as sentiment in crypto markets turned bearish ahead of tomorrow’s FOMC meeting. Near protocol was also lower, dropping by as much as 12% today. Solana (SOL) Solana (SOL) was in the red for …
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Economists Say Fed Could Shrink Balance Sheet in 2023, Critics Insist Central Bank Hasn’t Reduced QE at All
With inflation soaring in the U.S., economists from monetary policy analytics and forecasting firm LH Meyer say the U.S. Federal Reserve could stop shrinking its balance sheet earlier than expected. However, critics have said the U.S. central bank hasn’t really shrunk the Fed’s balance at all, and the entity has been accused of keeping quantitative …
Bitcoin, Ethereum Technical Analysis: ETH Drops Below $1,400 Support, BTC Hits $21,000 Prior to Federal Reserve Meeting
Ethereum fell below its recent floor of $1,500 earlier in today’s session, as bearish pressure intensified in crypto markets. Uncertainty in the market has heightened today, as traders prepare for yet another rate hike from the Fed. Bitcoin was also lower for a second consecutive day, as prices were on the cusp of falling under …
Coinbase Reportedly Facing SEC Probe for Listing Unregistered Securities
Coinbase, the U.S.-based cryptocurrency exchange, is reportedly facing a probe from the Securities and Exchange Commission (SEC) over the listing of several crypto assets on its platform. The investigation, according to three people with ostensible knowledge of the matter, is examining whether the exchange has been listing assets that can be classified as unregistered securities. …
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Web3 & Metaverse NFT Domains Now Available to Mint at Quik․com
sponsored Quik.com is offering NFT domains as a gateway pass for users to establish their very existence on the web of tomorrow and the metaverse. A wide range of top-level domains, including .metaverse, .web3, .vr, and many others, are available on this NFT domain marketplace, Quik.com, enabling users to unleash their creative side on the …
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Number of Crypto Users Set To Hit 1,000,000,000, According to New Study – Here’s When
A new study is shedding light on the future growth potential of the cryptocurrency and digital assets space. According to a joint report compiled by Boston Consulting Group (BCG), blockchain investment firm Foresight Ventures and crypto trading platform Bitget, data suggests that the industry will surpass a billion users by the end of this decade. …
IMF recession warning sees Bitcoin dip under $21K amid fresh $1M BTC price forecast
Bitcoin can still rise to seven figures within five years, PlanB claims, calling for investors to ignore short-term “noise.” Bitcoin (BTC) fell below $21,000 for the first time in eight days on July 26 as Wall Street prepared for a decision on United States’ anti-inflation policy. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed jitters …
Sentiment and inflation: Factors putting pressure on Bitcoin price
Bitcoin prices are besieged by a multitude of factors, and the cryptocurrency is struggling to breach the $25,000 mark. Subsequently, there are fears that Bitcoin prices will take longer to recover. Bitcoin (BTC) has been hovering around the $20,000 range for several weeks now after the coin lost over 60% of its value from its …
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