CryptoClan (ENG)

2022-02-04 17:29:46 US Federal Reserve is making some analysts bullish on Bitcoin again

Signs of a steady Bitcoin price recovery emerged earlier this week as investors shifted away from the U.S. dollar on weaker-than-expected economic data. Powell's hawkish turn pushed the price of Bitcoin down as the U.S. dollar strengthened.

His hawkish comments coincided with a recovery rally in the Bitcoin market as the dollar pared gains, prompting Alden and other analysts to say that the market may have overreacted to Powell's tightening outlook. Open / Comment

2022-02-04 15:12:01 Russia's Minister of Finance Suggests Letting Banks Sell Crypto: Report

Cryptocurrencies should be treated like investments in gold and other assets, the minister wrote in a letter to the prime minister.

Russian Minister of Finance Anton Siluanov reiterated the ministry's stance on regulating rather than banning crypto, and suggested legalizing cryptocurrency trading through banks. Open / Comment

2022-02-04 11:49:40 El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender – Regulation Bitcoin News

The government of El Salvador has rejected a recommendation by the International Monetary Fund to drop bitcoin as legal tender in the country.

The IMF urged El Salvador last week to drop bitcoin's use as legal tender and dissolve Fidebitcoin, the $150 million trust fund created for the Bitcoin law. Tags in this story Bitcoin Law, bitcoin legal tender, bitcoin national currency, El Salvador, el salvador bitcoin, IMF, imf el salvador. Open / Comment

2022-02-03 19:12:02 Bitcoin worth over $380 million from 2016 Bitfinex hack 'on the move'

Substantial amounts of Bitcoin stolen from the cryptocurrency exchange Bitfinex six years ago were transferred by hackers to an unknown wallet in the early hours of Tuesday, February 1.

The entire worth of the 10,000 Bitcoin that was taken is $383,060,670, with the amount transferred accounting for 8% of the 119,756 BTC that was stolen from Bitfinex in 2016, making it one of the largest cryptocurrency hacks in history. Open / Comment

2022-02-03 16:11:02 Mark Zuckerberg's ambitions for a Facebook cryptocurrency are oficially over

Silvergate's CEO Alan Lane said the bank hopes to bring a stablecoin to market this year. Diem, Facebook's once-ambitious cryptocurrency venture, officially no longer exists.

The association behind Diem said Monday it is selling its assets and intellectual property to crypto bank Silvergate Capital. The bank paid $182 million for the project, settled via a combination of stock and cash. Open / Comment

2022-02-03 13:01:35 Ethereum Fees Drop Below $5 as L2s Take Off

Ethereum fees have fallen below $5 per simple transaction according to pictured data by Santiment, a blockchain analytics firm.

That’s down from circa $35 in November and May last year when ethereum’s price neared $5,000. Open / Comment

2022-02-03 11:30:56 Blockchain Bridge Wormhole Suffers Possible Exploit Worth Over $250M

On-chain analysts called attention to a 80,000 ETH transaction from wormhole to an address currently in possession of over $250 million worth of ETH.

The hack has raised alarm in DeFi circles, as it now means that ETH that has been bridged to Solana may be unbacked. Open / Comment

2022-02-02 21:11:01 Thailand axes planned 15% cryptocurrency tax

Thailand has scrapped plans to impose a 15 per cent withholding tax on crypto transactions after facing pushback from traders in one of south-east Asia's biggest markets for digital currencies.

"The revenue department did a lot of homework and reached out to crypto operators as well to get feedback," said Pete Peeradej Tanruangporn, chief executive of Upbit, a crypto exchange, and co-chair of the Thailand Digital Asset Operators Trade Association. Open / Comment

2022-02-02 18:26:01 January Selloff Wiped $500 Billion Off Crypto Market Cap

Since the beginning of the year, the market value of cryptocurrencies has decreased by approximately $500 billion, plummeting from $2.2 trillion to $1.68 trillion. Tokens across nearly all categories saw double-digit percentage losses.

Two leading cryptocurrencies, bitcoin and ether, shed 22% and 32% respectively over the past month. At present, they are hovering at $37,030 and $2,541. Open / Comment

2022-02-02 15:24:01 Second largest NFT marketplace apparently 87% wash trading

Wash trading, wherein a seller buys and sells the same asset to generate a false impression of marketplace activity and demand, appears to be most of the action on NFT marketplace Looksrare.

NFT analytics firm CryptoSlam reported today that it has identified more than $8.3 billion worth of wash trading from LooksRare, making up the vast majority of trading volume on the marketplace to date. Open / Comment