Category Archive: Cryptocurrency, No picture
Crypto Crime Up 295%, U.S. FTC Complaints Skyrocket
The number of crypto crime victims has been increasing at an alarming in the last five years, with a 295% last year alone. However, the total value lost in crypto-related frauds has decreased since 2019. Crypto Attracts Cyber Crime According to a report from analytics firm Crypto Head, Americans reported only 340 cases to the […]
ASIC Manufacturer Canaan Inc. Launches Bitcoin Mining Farm in Khazakstan
Mine Crypto NASDAQ-listed ASIC mining manufacturer Canaan Inc. plans to accumulate Bitcoin directly and optimize its revenue streams by expanding into self-hosted mining operations. Canaan Inc. Expands to BTC Mining The Chinese hardware producer, which currently has a market cap of over $1.3 billion and projected Q2 revenues of $250 million, is venturing into Bitcoin […]
SEC Puts $7.6 Million Fine on Crypto Invention Database
Key Takeaways The SEC has placed a $7.6 million fine on Loci Inc., a cryptocurrency-powered invention search service. The regulator says that Loci misrepresented its business activities and did not register its ICO under securities regulations. Loci’s token holdings will be destroyed and the LOCIcoin cryptocurrency will be removed from exchange listings. The U.S. Securities […]
The Dogecoin Bubble May Have Finally Popped
Key Takeaways Dogecoin started the year at $0.0025, and the price grew to $0.74, an astounding return of 29,600%. The prevailing market conditions are incredibly risk for holders of meme projects like Dogecoin. Within a month, the price has crashed by more than 70% in what appears to be a bubble burst. Amid Bitcoin’s ongoing […]
Exodus: China’s Bitcoin Miners Relocate Amid Regulatory Crackdown
Key Takeaways Chinese Bitcoin mining firms BIT Mining and Fenghua International are relocating to the U.S. and Kazakhstan. The Bitcoin network hashrate has significantly dropped as miners go offline following the ban. While the short-term effects are negative, the network is witnessing decentralization of the mining industry. Mine Crypto Publicly-listed Bitcoin mining firm BIT Mining […]
Karura Wins $100 Million Parachain Auction on Kusama
Key Takeaways Karura Network won the first parachain auction on Kusama. The second auction began today with Moonriver in the lead for second parachain slot. The downtrend in crypto markets has dragged KSM 52% lower this month. This news was brought to you by ANKR, our preferred DeFi Partner. Karura Network, the testnet version of […]
Bitcoin Falls Below Key Support at $30K, Dragging Alts Lower
Key Takeaways Bitcoin has fallen below key support levels at $30k on news that China may be banning BTC trading and mining. China is a global hub for Bitcoin activity and a crackdown could have a severe impact on prices. Bitcoin continues to dominate the market, with red across the board as BTC price sinks […]
El Salvador Opposition Party Sues to Block Bitcoin Legislation
Key Takeaways The opposition in El Salvador has filed a case against the new Bitcoin law, deeming it unconstitutional and baseless. Reportedly, citizens and businesses in El Salvador also have reservations about the new law. Nonetheless, the government has continued with its efforts to successfully implement BTC payments. The Farabundo Martí National Liberation Front (FMLN) […]
Sotheby’s Will Take Bitcoin Bids for Diamond Auction
Key Takeaways Sotheby’s is auctioning a diamond valued above $10 million. The successful bidder will be able to pay in Bitcoin (BTC), Ethereum (ETH), or standard fiat currency. This is the first time that such a high-value physical item has been sold by an auction house for cryptocurrency. Sotheby’s, one of the largest auction houses […]
Polywhale Team Abandon $100 Million Project Amid Scam Allegations
Key Takeaways Polywhale Finance, the first yield farm on Polygon, has abandoned the project and withdrawn over $1 million in tokens. The team said they were quitting due to bad tokenomics and poor market conditions, a claim dismissed by others. Community members describe the incident as a “soft rug,” a fraudulent exit scam in which […]
