Global CRYPTO News

2022-09-15 19:57:16 ​​Bitcoin tops the crypto trending list amid rumors of halving acceleration

As the cryptocurrency market flashes green again, Bitcoin (BTC) as its largest asset is one of the forces fuelling its recovery, growing nearly 13% over the week and taking the lead on the daily crypto trending chart. Indeed, as of September 13, the maiden decentralized finance (DeFi) token has emerged as the most trending crypto, leading the 24-hour chart ahead of Reef (REEF).

Increased interest in Bitcoin has been stoked by online chatter that the cryptocurrency’s halving event might take place sooner than originally expected. It is worth remembering that halving is the event after which the reward for mining a crypto block is halved, which happens approximately every four years, which means that the next halving is set to take place in 2024. Bitcoin has been recording recently, which some people interpreted as the hastened halving schedule. Open / Comment

2022-09-06 18:48:04 ​​Ethereum activates Bellatrix upgrade as last step before The Merge.

Ethereum developers have activated Bellatrix, an upgrade to prepare the Beacon Chain for The Merge.

The Bellatrix upgrade was activated at epoch 144896 on the Beacon Chain at 11:34 AM UTC today. Before the Bellatrix upgrade could go through, Ethereum nodes had to update their client software versions. Open / Comment

2022-09-06 18:45:09 ​​Hut 8 surpasses 8,000 BTC mark as it continues to HODL
The Canadian mining operator has managed to HODL through tough market conditions while other miners have sold holdings to manage operational costs.

Canadian mining firm Hut 8 saw its Bitcoin holdings surpass the 8,000 Bitcoin (BTC) mark as it continues to accumulate self-mined holdings through depressed cryptocurrency market conditions.

Hut 8 released its latest mining report for August 2022, which showed that it had increased its Bitcoin holdings by 375 BTC for the month to take its total reserves to 8,111 BTC. The mining firm a reported that it had mined 12.1 BTC per day at a rate of 125.8 BTC per exahash for the month.

While other mining operators have been forced to sell portions of their BTC holdings amid the ongoing cryptocurrency bear market, Hut 8 has managed to continue its self-described “long-standing HODL strategy” and still holds all of its mined BTC.

Hut 8 also announced that it had installed 180 Nvidia GPUs at its main data center in Kelowna, Canada. The center currently mines Ether (ETH) but with the Merge set to take place in September 2022, its GPU mining equipment will be used to provide artificial intelligence, machine learning or VFX rendering services.

Hut 8 has also continued increasing its mining capacity with the acquisition of Chinese ASIC MicroBT miners. The firm paid $58.7 million for 12,000 new MicroBT M30S, M30S+ and M30S++ miners in October 2021 and has received orders of 1000 machines monthly through 2022.

Industry experts have warned of the potential implications of Ethereum’s Merge on other cryptocurrencies that run on proof-of-work (PoW) consensus algorithms. Once Ethereum transitions to the proof-of-stake operated Beacon Chain, many miners that secured the Ethereum blockchain will be looking to other PoW chains to continue mining.

Ethereum Classic (ETC) saw its token value increase by more than 10% in early September as blockchain explorer and mining pool operator BTC.com launched an ETC pool featuring zero-fee mining over a three-month period. Open / Comment

2022-08-30 15:27:21 ​​Durov Suggests Telegram May Launch a Toncoin-powered Marketplace

Pavel Durov, the mastermind behind the Telegram chat app and messaging platform, has suggested that Telegram may one day launch a blockchain technology-powered marketplace for usernames, emojis, and other app-based assets. And Durov has also praised the efforts of the TON network – a blockchain project built from the ruins of his own vision of a global stablecoin.

In a post on his own Telegram channel, Durov wrote that such a marketplace would ensure that username ownership was “secured on the blockchain” via “non-fungible token (NFT)-like smart-contracts.”

He claimed that “other elements of the Telegram ecosystem, including channels, stickers, or emojis,” could “later also become part of this marketplace.”

Although he did not commit to anything and maintained a hypothetical tone throughout, Durov suggested that TON and its native toncoin (TON) token, might well prove the best choice of network and currency for such a marketplace.

Durov wrote:

“When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales. Our team can write bullet-proof smart contracts for TON (since it was us who invented its smart-contract language). So we are inclined to try out TON as the underlying blockchain for our future marketplace.”

He further teased:

“Let's see if we can add a little bit of [Web3] to Telegram in the coming weeks.”

Although TON shares the same acronym as Durov’s original project – which was scuppered at the eleventh hour by American regulators back in 2020 – it no longer stands for Telegram Open Network.
Instead, it has been renamed by the breakaway developers who have repurposed the project and now call it “The Open Network.” Instead of the gram, the intended native coin of Telegram’s TON project, it makes use of toncoin.

Initially, Durov was dismissive of the project and warned followers that it was in no way associated with Telegram. But in recent months, he has apparently become something of a convert.

Durov wrote that he was “really impressed by the success” of the recent TON domain names auction and asked his followers to “imagine how successful Telegram, with its 700 million users could be” if it were to “put reserved usernames, group and channel links” up for auction.

Durov is known as the Russian Mark Zuckerberg, although he no longer lives in the country and was granted both French and UAE citizenship last year. He founded the tech empire now known as VK (aka VKontakte) in 2006, before leaving the firm and launching Telegram. Open / Comment

2022-08-30 15:21:41 ​​78% of Americans Seek Diversification With Crypto, 46% Satisfied With Such Investments - Survey

Among the Americans who have invested in crypto, as many as 78% view it as a way to diversify their investments, and a combined 46% say their allocations to crypto have brought about the same performance as they expected or better, according to a recent survey by US nonpartisan think tank Pew Research Center.

This survey was conducted among 6,034 US adults from July 5 to July 17, 2022.

About 16% of the polled US adults have admitted to investing, trading, or using crypto, according to the poll. Some 71% have not engaged in such activities, and 12% declared they have not heard about cryptocurrencies.

Among those who have invested their funds into crypto, 15% say their investments have performed better than they expected, and for 31%, these investments have done about the same as they expected. These two groups combined represent 46% of the polled.

Meanwhile, another 46% of the surveyed believe these crypto ventures have performed worse than they expected, and 8% are not sure how to evaluate their performance, as indicated by the survey.

While 78% of the polled say their crypto activities are driven by a need to diversify their investments, 75% stated that they are a good way to make money.

“Some 54% say at least a minor reason for investing is that they think crypto is easier to get into than other ways to invest. Smaller shares cite being more confident in cryptocurrencies than other investments (39%) and wanting to be part of a community (33%) as at least a minor reason for investing,” Pew Research Center said.

Based on the survey’s results, US men are 14 percentage points more likely than women to declare they have used crypto, and adults under the age of 50 are more likely than those 50 and older to be crypto users, at 25% and 7%, respectively. Open / Comment

2022-08-22 16:36:09 ​​BTC/USDT

Bitcoin slipped below the 20-day exponential moving average (EMA) of $22,864 on Aug. 17 and then below the 50-day simple moving average (SMA) of $22,318 on Aug. 19. The bulls are attempting to arrest the decline at the support line of the ascending channel.

The 20-day EMA has started to turn down and the relative strength index (RSI) is in negative territory, indicating advantage to bears. If the price reverses direction from the moving averages, it will suggest that bears are selling on rallies.

That could increase the possibility of a break below the support line of the channel. If that happens, the crucial support zone of $18,626 to $17,622 may come under attack.

To avoid this situation, the bulls will have to push and sustain the price above the moving averages. If they do that, the BTC/Tether (USDT) pair could rise toward the resistance line of the channel.

The buyers are aggressively defending the support line of the channel, but the downsloping moving averages and the RSI in the negative territory suggest that higher levels are likely to attract selling by the bears.

If the price turns down from the current level or the 20-EMA, the likelihood of a break below the channel increases. If that happens, the bearish momentum could pick up and the pair could drop toward $18,626.

The first sign of strength will be a break above the 20-EMA. Such a move will indicate that the selling pressure may be reducing. That could improve the prospects of a rally to the 50-SMA. Open / Comment

2022-08-21 12:19:34 ​​Tether Reveals 58% Decrease in Commercial Paper Holdings in Latest Attestation

Tether, the issuer of the industry’s largest stablecoin USDT, today published its latest quarterly attestation report for the token’ reserves. The USDT stablecoin is reportedly backed by the U.S. dollar, meaning that holders are expected to be able to redeem their holdings to an equal amount of the greenback at any time—provided the company has enough cash reserves to do that.

With a market capitalization of $67.5 billion, USDT is also the third-largest cryptocurrency behind Bitcoin and Ethereum only, and with so much at stake it’s little wonder Tether’s reserves have been under constant scrutiny. Today’s independent report, completed by Tether’s new auditing firm BDO Italia, breaks down the assets held by the company as of June 30, 2022, and asserts that consolidated total assets amounted to at least $ 66,409,619,424. Tether stressed. Open / Comment

2022-08-20 13:15:46 ​​BITCOIN NEWS

BTC is dropping very hard in the last few days and we clearly told you in our previous BTC update then it breaks down the structure so we see a dump in the market. Hope you guys did not stuck in any position and save your money.

Now what's next?

As of now BTC is holding it's important support level of $20.8k level and as long as BTC stays above this support we can expect a relief bounce in the market. Any close below $20.8k level will be bad for overall market. If it get a good bounce from here then our next resistances are $21.8k and $22.5k level. Open / Comment

2022-08-20 12:37:55 ​​Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors

The Indian police have launched an investigation into Bitconnect and booked its founder after a bitcoin investor reported being defrauded by the global crypto “Ponzi scheme.” According to U.S. authorities, the scheme reached a market capitalization of $3.4 billion at its peak. The founder and his co-conspirators allegedly obtained about $2.4 billion from investors.


Bitconnect’s Founder Wanted by Indian Police
The founder of Bitconnect, one of the most famous fraudulent cryptocurrency investment schemes, is wanted by the Indian police in the city of Pune, Maharashtra, after the U.S. indicted him for defrauding investors.

The Pune Police launched a probe into the multi-crore crypto scheme and booked its founder, Satish Kumbhani, after a local lawyer lodged a first information report (FIR) on Tuesday. He also named six others involved in the scheme. The lawyer stated in the FIR that he was defrauded for close to 220 bitcoins.

The Indian police are now searching for the accused but no arrests have been made. They are also investigating whether the same people have defrauded more investors.

Kumbhani, an Indian national, is already being investigated by the Federal Bureau of Investigation (FBI). The U.S. indicted him in February for his role as the founder of the fraudulent crypto scheme. Calling Bitconnect a “global Ponzi scheme,” the U.S. Department of Justice (DOJ) described:

Bitconnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion.

The Justice Department explained that Kumbhani, 36, of Hemal, India, “misled investors” about Bitconnect’s lending program. They claimed that it used proprietary technology, namely the “Bitconnect Trading Bot” and “Volatility Software” to “generate substantial profits and guaranteed returns by using investors’ money to trade on the volatility of cryptocurrency exchange markets.”
The authority emphasized:
Bitconnect operated as a Ponzi scheme by paying earlier Bitconnect investors with money from later investors.

“In total, Kumbhani and his co-conspirators obtained approximately $2.4 billion from investors,” the DOJ added. Open / Comment

2022-08-20 12:32:27 ​​Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges

South Korea’s top financial regulator, the Financial Services Commission (FSC), announced Thursday that the country’s financial intelligence unit (KoFIU) has notified investigative authorities about the illegal business activities of 16 unregistered virtual asset service providers (VASPs).

The KoFIU is South Korea’s financial intelligence unit (FIU) and the lead agency in the Asian country for anti-money laundering and countering financing of terrorism (AML/CFT) matters.

The 16 entities are Kucoin, MEXC, Phemex, XT.com, Bitrue, ZB.com, Bitglobal, Coinw, Coinex, AAX, Zoomex, Poloniex, BTCEX, BTCC, Digifinex, and Pionex.

All 16 crypto exchanges are based outside of Korea without a formal domestic presence, the regulator said, adding that they were found to be engaging in crypto business activities targeting domestic consumers. For example, they offer Korean-language websites, host promotional events targeting Korean consumers, and provide a payment option that supports the purchase of crypto assets using credit cards in the country.

The KoFIU notified foreign-based crypto exchanges on July 22 last year that they must register their business with the authority. However, the 16 aforementioned entities continued to operate in South Korea without obtaining registration.

The authority detailed:

"For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million [$38,000] of fines can be imposed with a restriction for registering as a VASP in domestic market for a certain period of time."


The regulator explained that financial authorities in the jurisdictions hosting the service providers will be informed and related credit card processing will be halted in the domestic market. In addition, “Transfers of virtual assets to and from the 16 unregistered entities will be made impossible as the authorities have issued an administrative guidance requiring suspension of transactions between the registered and unregistered entities,” the KoFIU described.

Emphasizing that “the authorities plan to take necessary measures” to stop crypto service providers from operating without registration in South Korea, the regulator stressed:

"The KoFIU will continue to closely monitor illegal business activities carried out by unregistered entities and maintain close cooperation with relevant authorities." Open / Comment