Tag: crypto trading

Crypto Crumbles – Bitcoin’s 2023 Rally Frays During Brief 7.5% Drop Toward $40,000
11Dec By adminNo Comments
Technology

Crypto Crumbles – Bitcoin’s 2023 Rally Frays During Brief 7.5% Drop Toward $40,000

[ad_1] Bitcoin delivered another bout of its notorious volatility in a brief but sharp tumble toward $40,000 amid a broader crypto selloff.The largest token sank as much as 7.5% to $40,521 before paring some of the losses to trade 3.6% lower at $42,245 as of 7:15 a.m. Monday in London. Smaller tokens like Ether, XRP, Polkadot and Cardano also fell. An index of the largest 100 digital assets shed about 4%, the largest drop since Nov. 22. Bitcoin has been on a tear this year on expectations that regulators will give the green light for the first US exchange-traded funds investing directly in the token, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates in 2024 have also encouraged the rally both in Bitcoin and virtual currencies as a who...
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Crypto’s Dream of an Embrace by China Gets a Reality Check
4Jul By adminNo Comments
Technology

Crypto’s Dream of an Embrace by China Gets a Reality Check

[ad_1] A shakeup at China's central bank has poured cold water on speculation that the nation may be about to loosen a ban on digital-asset trading.Industry executives including Circle Internet Financial Ltd. Chief Executive Jeremy Allaire have seized on Beijing's quiet backing of Hong Kong's push to become a crypto hub to argue that the mainland may reverse its policy. They got a reminder about the risks of such extrapolations when Pan Gongsheng was named the top Communist Party official at the People's Bank of China. The move potentially puts Pan in the running for PBOC governor and was viewed as a signal of policy continuity at the institution, which in 2021 declared all crypto-related transactions illegal. The appointment Saturday also surfaced some historic but unusually colorful c...
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Crypto’s Most Powerful Woman Speaks Out as Crisis Rocks Binance
29Jun By adminNo Comments
Technology

Crypto’s Most Powerful Woman Speaks Out as Crisis Rocks Binance

[ad_1] One senior Binance executive has managed to stay out of the global spotlight over the past six years and counting — even now as governments everywhere intensify their crypto clampdown: Yi He.As a co-founder of the besieged digital-currency empire, she's one of the most powerful players in the $1.2 trillion industry. She also has much to lose as the regulatory onslaught deepens and causes an existential crisis for crypto's largest exchange. After successfully marketing Binance in its early days across media platforms, Yi He — a former host on Chinese television — proved instrumental to its meteoric rise. Now she's confronting the most dangerous moment in the history of the firm, a dominant force in everything from token trading and venture capital to digital art. US financial watc...
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Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade
10Apr By adminNo Comments
Technology

Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade

[ad_1] The Ethereum network is set to undergo a technical revamp on April 12 that will allow users to withdraw tens of billions of dollars of its native token, Ether. Known as the “Shanghai” upgrade, it's a necessary step after the world's most commercially important crypto platform shifted to a less power-hungry process for ordering transactions. Investors burned by recent turmoil in crypto markets will be wondering if, presented with their first opportunity to withdraw their tokens, some Ether holders will run for the hills. 1. What is Ethereum?It's a computer network that hosts what are known as smart contracts — self-executing software agreements in which a chain of actions can flow from defined conditions and contingencies. Since it was introduced by crypto entrepreneur Vitalik But...
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Germany shuts down ‘world’s largest’ crypto launderer
16Mar By adminNo Comments
Technology

Germany shuts down ‘world’s largest’ crypto launderer

[ad_1] German authorities said Wednesday they had taken down the "world's largest" money laundering site for cryptocurrency, seizing millions of euros' worth of bitcoin in the process.Law enforcement officials secured around 44 million euros ($46 million) of the digital currency in the move against online platform ChipMixer, the Federal Criminal Police Office (BKA) and Frankfurt prosecutor's office said in a statement. Working together with authorities in the United States and Europol, investigators also seized the servers belonging to the "darknet" site. ChipMixer's operators are suspected of "commercial money laundering and running a criminal trading platform on the internet", the German authorities said.The site is said to have accepted criminally obtained bitcoin to pay it out agai...
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Billions Worth of Crypto Trades at Risk as Bank Shutdowns Take Toll
13Mar By adminNo Comments
Technology

Billions Worth of Crypto Trades at Risk as Bank Shutdowns Take Toll

[ad_1] The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups. Now, two shutdowns in the banking industry — SVB Financial Group's Silicon Valley Bank and Silvergate Capital Corp. — have set off a fresh set of stresses. SVB's failure triggered a knock-on effect in the crucial market for stablecoins after digital-asset giant Circle Internet Financial Corp., one of the biggest issuers of the widely used tokens known for their perceived safety, revealed it had $3.3 billion of reserves with the bank. The news caused Circle's token, USD Coin, to slip below its intended 1-for-1 peg with the dollar, sending a shock through the market. As concerning as USD Coin's de-peg was, it is the shutdown of crypto-friendly bank Silvergate...
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Crypto scam apps on Google Play and Apple App Store? Know how pig butchering works
4Feb By adminNo Comments
Technology

Crypto scam apps on Google Play and Apple App Store? Know how pig butchering works

[ad_1] A new type of online scam has surfaced recently. Known as the “pig butchering” scam (literal translation from sha zhu pan, meaning pig butchering plate), it is a type of romance scam where a scammer would connect with the victim, usually on a dating site or a social media website, and will show romantic interest in the victim. But before too long, the fraudster would scam the victim out of all their money. But this scam is getting scarier as scammers are taking the path of crypto to easily steal the money without being tracked. And to win the trust of the victims, scammers are sneaking in fraudulent crypto apps into Google Play and Apple App Store, a cybersecurity company has found.Researchers at the cybersecurity company Sophos have published a report where they found that earl...
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Coinbase CEO Says Singapore’s Retail Crypto Curbs Jar With Web3
4Nov By adminNo Comments
Technology

Coinbase CEO Says Singapore’s Retail Crypto Curbs Jar With Web3

[ad_1] Singapore’s desire to be a hub for the so-called web3 industry conflicts with its proposed curbs on retail crypto trading, Coinbase Global CEO Brian Armstrong said. Singapore's desire to be a hub for the so-called web3 industry conflicts with the city-state's proposed curbs on retail crypto trading, Coinbase Global Inc.'s Chief Executive Officer Brian Armstrong said. “To say Singapore wants to be a web3 hub and then simultaneously say we aren't really going to allow retail to trade” is “incompatible,” Armstrong said Friday on a panel at the Singapore FinTech Festival alongside Sopnendu Mohanty, the chief fintech officer at the island nation's central bank. Singapore is seeking to clamp down on retail-investor access to crypto trading to shield consumers from a volatile mar...
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