InvestmentTradingUpdates

2022-12-23 09:02:02 Brazil's cryptocurrency regulation set to become law at midnight

Cryptocurrency regulation in Brazil is poised to become law at midnight local time. The bill, which was approved by the Chamber of Deputies two weeks ago, aims to regulate providers of virtual assets. If outgoing President Jair Bolsonaro doesn’t veto it by the end of the day, it will automatically become law.

Brazil has been at the forefront of digital payment innovations, creating PIX, a simple, almost free instant payment system that has revolutionized the industry. The central bank also has a digital currency that it is currently testing and plans to issue in 2024. A regulator must also be appointed for the sector, and the industry expects it to be the Brazilian Central Bank, according to Blocknews.

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2022-12-22 08:33:02 Hackers steal EV giant NIO users’ data demanding millions in Bitcoin

Chinese electric vehicle (EV) manufacturer Nio (NYSE: NIO) has confirmed a blackmailing incident by hackers involving stolen users and vehicle sale information. pledging to take up responsibility for the hack’s impact on customers.

The EV manufacturer indicated that the hackers are demanding $2.25 million worth of Bitcoin (BTC) to avoid releasing the information, local Chinese publication NBD reported on December 20. According to Nio, the hackers sent an email demanding the payment this month with the affected data dating back to before August 2021.

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2022-12-21 08:40:08 CME Group, CF Benchmarks launch new DeFi reference rates for Aave, Curve and Synthetix

CME Group and CF Benchmarks launched new DeFi reference rates and real-time indices for Aave, Curve, and Synthetix. The reference rates and real-time indices are not tradeable products, but transparent pricing for the three DeFi tokens.

Several crypto exchanges and trading platforms including Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital will provide pricing data for the new benchmarks. The reference rates will be calculated and published once per day, while the real-time indices data will be published once per second. CME Group Global Head of Cryptocurrency Products Giovanni Vicoso said earlier in the month.

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2022-12-20 09:45:03 Record-breaking Bitcoin whale selloff, 280k BTC offloaded in 30 days

Whales, the largest holders of Bitcoin (BTC), have been selling the most BTC ever recorded on a 30-day basis. Over the last 30 days, these whales have offloaded a total of 280,000 BTC, according to Glassnode on-chain data. It is estimated that whales currently hold around 9 million BTC.

Reviewing the Trend Accumulation Score by Cohort metric, on-chain Glassnode data confirms the concentration of sell pressure has been coming from BTC whales. These large holders of Bitcoin have a significant influence on the market, and such selling activity can impact the price of BTC. Whales holding 1,000 to 10,000 BTC have 3.6 million BTC.

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2022-12-19 09:49:02 BNB Becomes Most Active Blockchain In Last 24 Hours, Despite Binance FUD

The FUD around Binance has created a lot of fears among investors and pushed the withdrawal volume to an enormous $5 billion. A similar amount of withdrawals would have caused a catastrophe for any other exchange that is not Binance.

BNB Chain reported the highest number of daily active users on the blockchain. With 1.1 million users, BNB reached the first place among other networks and easily gained the lead over the second place held by Ethereum with 402,000 users. Such a large spike in the number of users could be tied directly to the most recent activity around the exchange withdrawal volume

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2022-12-18 09:39:02 OneCoin co-founder Karl Sebastian Greenwood pleads guilty: DOJ

Karl Sebastian Greenwood pled guilty to wire fraud and money laundering connected to the fraudulent OneCoin scheme, the Department of Justice announced. Greenwood’s accomplice and OneCoin co-founder, Ruja Ignatova, remains a fugitive at large.

Greenwood co-founded OneCoin along with so-called “Crypto Queen”-turned-fugitive Ruja Ignatova in 2014, after which the two perpetrated a multibillion-dollar global scam. As they corresponded, the two plotted to simulate volatility and fix exchange prices. An estimate suggests victims invested over $4 billion in funds, according to the DOJ. Federal Bureau of Investigation’s top 10 most wanted list, is still at large.

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2022-12-17 07:53:02 Revolut's CFO remains confident in crypto push despite falling trading volumes

Revolut's chief financial officer, Mikko Salovaara, remains confident about the future of crypto on the fintech giant's financial super-app, even while trading volumes falter and some of its new crypto products see slow adoption.

Founded in 2015 by Nik Storonsky, Revolut grew from a foreign exchange application to offering a plethora of features including the ability to book holidays, transfer money across borders and even insure pets via the app. the company still sees digital assets as a core part of its mission to meet every financial need that a merchant or individual might have.

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2022-12-16 09:21:02 Chainalysis data reveals FTX collapse caused $9B in realized losses

FTX’s collapse resulted in around $9 billion in realized losses for crypto investors, according to a Chainalysis report. Chainalysis noted that this loss paled compared to Terra’s UST depeg, which caused a loss of $20.5 billion

According to Chainalysis, weekly realized loss and gain are calculated based on the value of assets in a wallet at the time they were acquired minus the value of the portion of the assets transferred from the wallet at the time of recording the data. While the transfer of assets from a wallet does not necessarily imply a sale, it gives an insight into how those events affected investors.

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2022-12-15 10:05:03 Tether helps Binance swap 3 billion USDT to Ethereum from Tron

Tether announced that it's assisting crypto exchange Binance with a “chain swap,” which involves converting 3 billion USDT to the Ethereum network from the Tron network. Tether will be performing a chain swap from the Tron network to the Ethereum network.

USDT is issued as a token issued by Tether on the Ethereum, Tron and other blockchain networks and used to facilitate trading operations on cryptocurrency exchanges such as Binance. Tether CTO Paolo Ardoino said the transaction is part of Binance efforts to rebalance USDT reserves from its cold wallets on Tron to Ethereum. Here, Binance will send 3 billion USDT.

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2022-12-14 08:54:02 Coinbase law enforcement requests jumped 66% over the past year

Coinbase received 12,320 law enforcement requests for the year through Sept. 30, a 66% increase. The majority, 43%, of requests came from the U.S., followed by the UK, Germany and Spain, according to the exchange's latest transparency report.

The exchange, which serves more than 108 million customers around the world, regularly receives and responds to requests from law enforcement and government agencies seeking customer account information and financial records in connection with civil, criminal or other investigative matters.Paul Grewal, chief legal officer of Coinbase, said in a blog post.

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