Crypto news

Not long ago, Tesla – the electric car company brought to the financial forefront by South African entrepreneur Elon Musk – announced it had sold a lot of its bitcoin. No doubt the company experienced heavy losses given that when it first bought BTC in 2021, the asset was trading in the $50K range. Elon Musk Will Still Buy BTC in the Future Now, bitcoin is not even half that and trading for about $24,000 per unit, though Elon Musk says that his company would be open to...

Tornado Cash has become a common money laundering platform with rapidly growing incidents across Ethereum and Binance Smart Chain on a consistent uptrend. A substantial magnitude of the illicit funds has lost their trail after going through the mixer. According to a new report by blockchain security platform SlowMist, 74.6% of stolen funds (or nearly 300,160 ETH) on the Ethereum network were transferred to the controversial cryptocurrency tumbler during the first half of...

A former Coinbase employee and two of his comrades have been arrested by the Department of Justice (DOJ) following reports that the employee had conducted insider trading and passed along confidential information to his cohorts about which coins would be listed on the exchange in the future. A Man Who Worked with Coinbase Has Been Arrested The former employee – a man named Ishan Wahi – was part of the team at Coinbase that listed assets on the trading platform. The data...

The European Central Bank unveiled a discussion paper this week on the pros, cons, and economics of implementing central bank digital currency (CBDC). It suggested that CBDCs could help stave off dominance from BigTech firms in the payments market due to “network externalities” surrounding the use of a medium of exchange.  Ultimately, the paper posits that CBDC may be “the only solution to guarantee a smooth continuation of the current monetary system.” The Threat of Digital...

Bitcoin’s situation took another turn for the worse in the past 24 hours as the asset slipped to $20,750. Most altcoins are in a similar position this week, making it the worst performing trading one since the massive crash in mid-June. Bitcoin Down 15% Weekly A lot can change in the cryptocurrency markets within a week. Bitcoin, for instance, was riding high last weekend when it jumped above $25,000 on two separate occasions to mark new multi-month peaks. While the bulls...

The world-famous cryptocurrency exchange platform FTX increased its revenue by more than 1,000% during 2021, from $89 million to $1020 million, according to company financial documents leaked to news outlet CNBC. According to the documents, FTX’s net revenues during 2021 grew exponentially to more than $387 million. A significant increase compared to the $14 million it made in 2020. The Crypto Winter is a Billion Dollars Opportunity In 2022, the company has continued its hot...

The professional American football team, Houston Texans, has become the latest National Football League (NFL) team to accept Bitcoin as payment for its single-game suites. The club said it had already made its first crypto sale after selling a suite to digital marketing agency EWR Digital. Single game suites are exclusive football viewing spaces in stadiums that accommodate a small number of fans who want access to unique benefits such as food and beverages and a preferred...

Bitcoin had seen a short-term uptrend, which acted as a correction to the longer term’s downside action, which lasted for the past months. However, this rally might have come to its end. Technical Analysis By Shayan The Daily Chart The 100-day moving average (roughly at $24K) has acted as a strong resistance zone and rejected the price action. The outcome was a massive breakdown from BTC’s prng low. A breakout from alow typically signals a bearish reversal as most of the sell...

Accused crypto money launderer Denis Mihaqlovic Dubnikov has been extradited to the United States from the Netherlands to face charges in the District of Oregon. The US Department of Justice (DOJ) said Dubnikov was charged by a federal grand jury in Portland for his alleged role in an international crypto money laundering conspiracy last August. According to the official press release, the indictment stated that the 29-year-old Russian citizen and his accomplices had full...

The U.S. Treasury is doing additional research on crypto. The organization is looking to study the benefits, risks, and disadvantages that come with the space to align itself with the recent crypto executive order issued by “sleepy” Joe Biden. The Treasury Wants to Know About Crypto The crypto executive order came about several months ago. Biden garnered temporary praise for being the only acting president to engage in pushing crypto regulation, though this praise...