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2022-07-25 11:20:05 #1 Source For Education on Crypto, Bitcoin, Trading & general News

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2022-07-25 10:53:02 Traders Withdraw $3.6 Billion in Ethereum From Crypto Exchanges in 17 Days

The pencilled-in preliminary date for The Merge, revealed by the Ethereum developer Superphiz, is less than two months away and the announcement seemingly caused a number of developments to happen. First off, the network’s native token ether saw a significant spike in value and secondly, Ethereum’s hashrate has dropped 18.21% since June 30.

On July 9, 2022, Bitcoin.com News reported on the delayed difficulty bomb and the fact that The Merge would be pushed back at least until September. The Merge is basically the upgrade that finally transitions the Ethereum (ETH) network from proof-of-work (PoW) to proof-of-stake (PoS). There are now two chains, with one that still leverages PoW, and the Beacon chain which is designed for PoS. On that same day, it was reported that 13,012,469 ETH was deposited into the ETH 2.0 contract.

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2022-07-25 10:32:02 US Court Convicts 'My Big Coin' Founder in $6 Million Fraudulent Cryptocurrency Scheme

A federal jury has convicted the founder of “My Big Coin” in a fraudulent scheme that swindled $6 million from cryptocurrency investors. The defendant made several false claims, including that the coins were backed by gold and that the company had a partnership with Mastercard.

The U.S. Department of Justice (DOJ) announced Thursday that the founder of My Big Coin Pay Inc. (aka My Big Coin), Randall Crater, has been convicted in a cryptocurrency fraud scheme. The 51-year-old from East Hampton, New York, defrauded investors of over $6 million, the DOJ alleged. Crater has been “convicted of four counts of wire fraud, three counts of unlawful monetary transactions, and one count of operating an unlicensed money transmitting business,” the Justice Department detailed.

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@CryptoWorldAnalysis Open / Comment

2022-07-25 10:13:02 FTX to Help Voyager Customers, CEO Says Firm Willing to Deploy 'Hundreds of Millions' to Help Crypto Industry

The founder and CEO of the leading exchange FTX, Sam Bankman-Fried has offered to give early liquidity to Voyager Digital’s customers, according to an announcement FTX published on July 22. Furthermore, Bankman-Fried discussed the crypto industry with CNBC in an exclusive interview.

Not too long ago on June 28, Sam Bankman-Fried told Forbes author Steven Ehrlich that some crypto firms were “secretly insolvent” and he warned more insolvencies were coming. The FTX CEO’s words came true, as more companies with financial issues followed the problems customers were having with Celsius freezing withdrawals. Celsius eventually filed for bankruptcy protection alongside Three Arrows Capital, and Voyager Digital. On July 22, Bankman-Fried tweeted out a statement that explains FTX is willing to help Voyager’s customers.

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https://t.me/Bitcoin_NewsTg Open / Comment

2022-07-25 09:37:02 Ukraine’s New Fiat Restrictions to Boost Popularity of Crypto, Industry Says

The central bank of Ukraine has adjusted the fixed exchange rate of the national currency in U.S. dollars and introduced stricter limits on hryvnia transactions for citizens. The measures are likely to turn more Ukrainians to cryptocurrencies, according to a representative of the local crypto sector.

The National Bank of Ukraine (NBU) has introduced new rules in response to the changing fundamentals of the country’s economy during an ongoing military conflict with Russia. The monetary authority devalued the Ukrainian hryvnia against the strong U.S. dollars by 25% on Thursday and set new limits on banking operations with the national fiat. According to the updated regulations for private individuals, enforced on July 21, banks can sell non-cash foreign currency to their customers only if the amounts are deposited for a period of at least three months, without an option to terminate the contract.

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https://t.me/DeFi_Ethereum Open / Comment

2022-07-25 09:11:02 Huobi Becomes Latest Crypto Exchange to Receive Provisional Approval From Dubai Regulator

Huobi recently became the latest cryptocurrency exchange platform to be granted provisional approval by the Dubai Virtual Assets Regulatory Authority, a statement from the company has said. The provisional approval allows Huobi to offer virtual asset exchange products and services.

The Asian cryptocurrency exchange platform, Huobi, has become the latest digital asset services company to receive provisional approval from the Dubai Virtual Assets Regulatory Authority (VARA). According to a statement released by the exchange, this approval gives Huobi’s United Arab Emirates (UAE)-based entity the authority to offer “a full suite of virtual asset exchange products and services.” Before giving Huobi its approval, VARA had granted another provisional license to Seychelles-based crypto trading platform OKX.

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@DeFi_ICO_Invest Open / Comment

2022-07-25 08:57:02 Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI

The South African revenue collector is said to have lodged a claim of approximately $55 million against the now defunct bitcoin Ponzi scheme Mirror Trading International (MTI). The claim lodged with the Master of Cape Town High Court relates to two tax periods, the years 2019 and 2020.

According to a report by Moneyweb, the revenue collection body known as the South African Revenue Service (SARS) said it wants this tax bill settled before the finalization of MTI’s liquidation process. As previously reported by Bitcoin.com News, a total of $75 million was realized from the sale of bitcoins belonging to MTI that were recovered from forex trader FX Choice. SARS, which accuses the collapsed firm’s liquidators of failing to carry out their duties “as the deemed public officers,” reportedly said it reserved the right to adjust its claim in the event additional bitcoins belonging to MTI were found.

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https://t.me/CryptoNewsSource Open / Comment

2022-07-25 07:50:02 Hacker drains $1.08M from Audius following passing of malicious proposal

Proposals in crypto help communities make consensus-based decisions. However, for decentralized music platform Auduis, the passing of a malicious governance proposal resulted in the transfer of tokens worth $5.9 million, with the hacker making away with $1 million.

On July 24, a malicious proposal (Proposal #85) requesting the transfer of 18 million Audius’ in-house AUDIO tokens was approved by community voting. First pointed out on Crypto Twitter by spreekaway, the attacker created the malicious proposal wherein they were “able to call initialize() and set himself as the sole guardian of the governance contract.” Further investigation from Auduis confirmed the unauthorized transfer of AUDIO tokens from the company’s treasury.

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https://t.me/Crypto_Bitcoin_Blockchain Open / Comment

2022-07-25 06:51:02 Cardano’s 25% Price Surge In a Week Mercilessly Liquidated ADA Bears

According to the crypto analytics agency Santiment, Cardano's ADA token price increase of 25% last week was accompanied by a large-scale liquidation of short positions. This is clearly visible on the chart, which directly shows the price of the token and the funding rate on exchanges.

In any case, ADA managed to finish the week most positively, performing a 25% surge at one point. At the end of the week the token quotation grew by 15%, and its price managed to hold above the level of $0.5. Thanks to this result, Cardano overtook its competitors in the top CoinMarketCap by market capitalization and now ranks sixth there. With a capitalization of $17.7 billion, Cardano is ahead of such crypto projects as Binance USD (BUSD), XRP (XRP), Solana (SOL) and Dogecoin (DOGE).

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https://t.me/Cronos_Cardano_Ripple Open / Comment

2022-07-25 06:14:02 Recent rebound was led by Market Maker

"While traders holding less than 10,000 bitcoins realized profits, but market has risen because the whales who are holding more than 10K, bought BTC."

@Blockchain_Crypto_Bitcoin Open / Comment