Chinese law enforcement has disrupted a covert banking network that leveraged cryptocurrencies to execute unauthorized foreign exchange transactions totaling around 2.14 billion yuan ($295.8 million). This illicit operation mainly converted the Chinese yuan into the South Korean won, evading the established legal frameworks for currency exchange. Uncovering The Shadow Crypto Banking Network In Jilin province, […]
In a significant development for Ethereum, the average gas fee on the network has dropped to 6.8 Gwei, marking the lowest level since January 2020, as shown by YCharts. This decrease in gas fees has made all on-chain operations, including asset swaps, cross-chain bridging, and non-fungible token (NFT) minting, considerably more affordable for users. Ethereum […]
Jack Dorsey, the former CEO of Twitter and a well-known figure in the tech and cryptocurrency sectors, recently shared his view that Bitcoin could reach $1 million by 2030. His prediction is part of a broader bullish outlook on the pioneer cryptocurrency, suggesting that its value could continue to climb even after hitting this milestone. […]
May brings a series of pivotal events that could significantly influence the trajectory of Bitcoin and the broader crypto market. These events, ranging from regulatory decisions to economic indicators, appear capable of profoundly swaying market dynamics. Regulatory And Economic Indicators On The Horizon This month is marked by crucial dates, starting with a significant meeting […]
The Australian Taxation Office (ATO) is targeting approximately 1.2 million cryptocurrency-related accounts to tighten the noose on tax discrepancies. According to Reuters, this step marks an approach by the Australian government to “crackdown on users who may be failing to pay their taxes amid a rising interest in digital tokens.” ATO’s Scrutiny On Crypto Transactions […]
The recent actions of the US Department of Justice (DOJ) have ignited a fierce debate on the future of financial privacy. The crackdown on Wasabi Wallet’s service has raised significant concerns among privacy advocates and crypto users alike, spotlighting the tension between regulatory actions and the right to private digital transactions. A Blow To Privacy: […]
In recent evaluations by JPMorgan analysts, cryptocurrencies’ future appears to be uncertain. Despite the sector’s rapid expansion and increasing mainstream acceptance, the financial giant advises a cautious approach in the short term. This conservative stance stems from “diminishing retail interest” and a “scarcity of positive market catalysts.” Analyzing The Shifts: From Enthusiasm To Caution JPMorgan’s […]
The US Congress could catalyze a more significant shift than introducing spot Bitcoin ETFs. Bitwise Chief Investment Officer Matt Hougan’s view underscores a pivotal moment for the crypto industry. Hougan suggests that 2024 could see “groundbreaking” legal frameworks that pave the way for mainstream stablecoin adoption, which might profoundly impact the crypto ecosystem. A Legislative Leap […]
The notorious Lazarus Group, a cyber-hacker entity backed by North Korea, appears to have escalated its fraudulent activities to attack crypto by exploiting LinkedIn’s professional networking platform. This cyber threat has been detailed in a report by SlowMist, a leading information security firm. The Lazarus Group, known for its elaborate cyber offenses, has now impersonated […]
Yao Qian, a prominent ‘pro-blockchain official’ in China, is under investigation by Chinese authorities for undisclosed “violations of law.” The Background Of Blockchain Advocacy And The Current Crackdown Qian, known for his pivotal role in developing China’s Central Bank Digital Currency (CBDC), has been a leading voice in the country’s blockchain initiative. Qian’s efforts were […]
Recent data from Santiment, a prominent market intelligence firm, indicate that the altcoins may enter a “prime buying” phase. According to Santiment, more than 85% of the altcoins they track are currently positioned in what is historically considered a “buying opportunity zone.” Sentiment And Technical Indicators Favor Altcoins This assessment is based on the Market […]
Crypto.com, a global crypto exchange, recently postponed its much-anticipated retail market expansion in South Korea, originally scheduled for April 29. This strategic decision came just six days before the planned launch, and according to the report, this delay is due to the company’s need for more comprehensive engagement with local regulatory bodies. Regulatory Hurdles And Strategic […]