The decentralized finance ecosystem has been plagued by a variety of known scams and exploits for some time, with yet another coming in the form of what is known as a “soft rug”. Those that have been dabbling in DeFi for some time will be familiar with the term “rug pull”. This generally refers to …
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A bipartisan bill that requires the study of blockchain technology and digital tokens passed the House of Representatives on June 22. The “Consumer Safety Technology Act” is centered on consumer protection and includes digital token and blockchain research. The bill passed the 117th Congress within a week of its introduction, with a resounding 325 votes …
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The reported suicide of notorious tax fugitive, Bitcoin proponent, and antivirus software pioneer, John McAfee, has prompted an outpouring of tributes and conspiracy theories today. After years of evading U.S. taxes and authorities, a Spanish court had ordered McAfee’s extradition just hours before he was found dead, with the 75-year-old expected to face a life …
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Decentralized Ethereum 2.0 staking protocol SharedStake has a developer on the loose that used the admin key and exploited the protocol’s governance token SGT. As the price of SGT plummets 95%, other team members are urging users to withdraw all funds and wait for further updates. Rug pull While warning users to exit SharedStake’s liquidity …
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Bitcoin maximalist Max Keiser has announced the F*ck Elon Tour scheduled to take place on July 8 -9 in Austin, Texas. Earlier this month, Keiser hit the headlines during the Bitcoin Conference in Miami for several reasons. But chief among them was his antics on stage with MicroStrategy CEO Michael Saylor, in which he repeated …
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South Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars. Tax Agents Target Wealthy Tax Evaders in Greater Seoul Area More than 53 billion Korean won ($47 million) in crypto …
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The Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes Cryptocurrencies, Bitcoin The Bank of International Settlements published its annual economic report Wednesday, discussing cryptocurrencies, …
Bitcoin ATM provider Chainbytes is setting up a bitcoin ATM manufacturing hub in El Salvador. The move follows the country passing a bill making bitcoin legal tender. The company plans to make El Salvador “the manufacturing hub of bitcoin ATMs for all of the Americas.” Bitcoin ATMs Coming to El Salvador U.S.-headquartered Chainbytes LLC, a …
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Investment bank JPMorgan conducted a survey of thousands of investors from 1,500 institutions and found that 49% of them think that cryptocurrency is either “rat poison squared,” the term used by Berkshire Hathaway CEO Warren Buffett to describe bitcoin, or “a temporary fad.” 49% of Investors Told JPMorgan Cryptocurrency Is a Fad or ‘Rat Poison …
A federal judge has rejected a bid for class certification from clients of the defunct Japanese Bitcoin exchange Mt. Gox, which was forced into bankruptcy in 2014 following a major hack. Judge Gary Feinerman made the declaration in the U.S. District Court for the Northern District of Illinois on Tuesday, June 22 saying it would …
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Around 69,000 Bitcoin has vanished from a South African investment platform along with two brothers who owned the crypto firm. Although the facts are yet to be proven in court, if it turns to be an exit scam rather than a hack, it would be the biggest in history according to Bloomberg. There were warning …
Despite the rough crypto markets, a popular analyst and trader says this bull cycle is not over yet – and one altcoin in particular is gearing up for a huge rally. The pseudonymous trader known in the industry as Credible Crypto tells his 219,000 Twitter followers that while fear is widespread, he doesn’t believe that …
Pantera Capital CEO Dan Morehead says he’s looking beyond Bitcoin for big returns in the crypto market. Pantera Capital Management, founded in 2003, is a US-based investment firm focused solely on ventures, tokens, and projects in the blockchain space, managing $3.2 billion in assets. ADVERTISEMENT In a new interview with Bloomberg, Morehead explains that …
Bitcoin’s (BTC) dip below $29,000 on June 22 rocked the markets a handful of analysts to call for a potential drop below $20,000. Many traders on crypto Twitter were focused on the formation of a death cross on the Bitcoin chart as an omen for another potential drop in the price but analysts with a …
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After a brief recovery to $41,000 on June 14, Bitcoin (BTC) investors might have thought that the bear market was finally over. After all, it was the highest level since May 21 and the date that MicroStrategy (MSTR) announced a successful $500 million debt offering. The funds are usually available in one or two business …
Continue reading “Data shows derivatives had little to do with Bitcoin’s drop to $29K”
