Crypto news

In mid-March, the world’s leading digital currency (bitcoin) fell by more than eight percent and briefly went below the $20K mark. The dip occurred after news got out that Silvergate Bank – a tech-friendly financial institution stationed in Northern California’s Silicon Valley – was being shut down by regulators for numerous failures. Bitcoin Fell Following Bad News of Silvergate Bank Many have called the shutdown of the bank one of the biggest monetary collapses since...

Terraport Finance, a decentralized finance (DeFi) platform on the Terra Classic network, has lost over $2 million worth of digital assets through an exploit on its liquidity wallet. According to an announcement from the project’s official Twitter handle on April 10, the Terraport team is still investigating the hack and trying to secure the protocol. Announcement: A breach was detected in the Terraport Liquidity wallet this morning. The Terraport team is currently...

Bitcoin’s price dip below $28,000 seems to be short-lived as the asset has spiked back above that level and even tapped $28,500 hours ago. The altcoins are also slightly in the green. LDO has recovered some of yesterday’s losses, while STX has soared the most. BTC Returns Above $28K After the massive volatility last Monday, which brought BTC south by over a grand on fake news surrounding Binance’s CEO, the cryptocurrency performed slightly better and calmer in the following...

Binance notified about an issue affecting its Future users as only USD-Margined contracts were impacted. Nevertheless, the largest crypto exchange quickly outlined that the issue had been solved, and all operations are back to normal. Binance Futures announced fully resuming trading activity for USD-Margined contracts just minutes after the issue. According to Binance CEO CZ, the crypto exchange is seeing several issues with Futures UM Rest service/API, which have affected...

Stellar lumen price started a downside correction from the $0.115 zone against the US Dollar. XLM price is now trading below $0.1050 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.1040 on the 4-hour chart (data feed via Kraken). The pair could start another increase if it clears the $0.1050 and $0.115 resistance levels. Stellar lumen price is trading above $0.1000 against the US Dollar, similar to Bitcoin....

Ripple price started a downside correction from the $0.5850 zone against the US dollar. The price is now trading below $0.512 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.5080 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a major increase above the $0.5120 resistance. Ripple price is consolidating near $0.500 against the US Dollar, similar to Bitcoin. XRP price...

By the end of World War II, the United States found itself in a position of preeminence in the global economy. For decades and generations after that time, its national security has depended on petrodollar hegemony. The standardized use of the dollar for international trade in petroleum and other commodities ensured a constant demand for the currency. This unrelenting massive global demand for U.S. dollars became a generational subsidy. It allowed the central bank to print...

According to a study conducted by the Swedish tax firm Divly, only 0.53% of cryptocurrency investors globally paid taxes on their trades last year.  The average share of people abiding by the rules varies in different countries. For example, over 4% of Finnish investors have paid taxes, while only 0.03% of those in the Philippines have done so. The Trends Across the Globe Divly explored 24 nations to determine what chunk of people in each area declared their cryptocurrency...

The Digital Currency Group will revamp its way of mining Bitcoin amid larger funding problems due mostly in part to another subsidiary of theirs, Genesis, going bankrupt as a result of their dealings with FTX. Freeing Up Revenue Although Genesis reached an agreement with its creditors – the crypto trading platform’s parent company, DCG, being one of them – the former is marked for sell-off as soon as a buyer appears. The arrangement DCG and its subsidiary have entered was a...

A 23-year-old professional with a major tech company who lost nearly Rs. 30 lakh (approx. $37,500) in the cryptocurrency market tried to commit suicide by jumping off a river bridge in Kolkata, India. A cab driver who noticed the young man on the Vidyasagar Setu (bridge) alerted the nearby police about his intentions. Borrowed to Invest in Crypto The police were able to prevent the techie from jumping off the famous bridge into the river, media reports said, without...