Crypto news

The Canadian government will begin consultations on cryptocurrencies, stablecoins, and CBDCs. The ruling body maintained that such assets should function under strict supervision since they could facilitate illicit operations and pose “a challenge to democratic institutions.” Crypto is Among the Budget’s Priorities As disclosed in its mini-budget 2022, Canada’s federal government will aim to impose rules on the local cryptocurrency sector. The officials started a series of...

One of the largest supermarket chains in South Africa – Pick n Pay – reportedly enabled customers to settle their bills in cryptocurrencies, including bitcoin. The offering covers 39 of the company’s stores located across the country. The National Children’s Advocacy Center also hopped on the bandwagon, allowing people to donate digital assets. The Latest to Catch the Wave Pick n Pay hinted about the new payment option months ago when it trialed it in ten of its stores....

A new inflation report is expected to show rates rising approximately 6.5 percent in September, roughly .2 percent higher than what occurred in August. This, per financial institutions like JPMorgan, could cause further falls in assets like stocks and crypto units, which could drop five percent more in the coming weeks once the results are in. Inflation Is Still Pretty Bad Things have been bad as of late, but now it looks like they’re about to get worse. The rate of...

The largest BTC corporate holder – MicroStrategy – posted a minimal impairment charge of $727,000 on its bitcoin ownings in Q3, 2022 due to the relatively stable price of the asset during that period. The company purchased additional 301 coins between July and October, rounding up its total holdings to 130,000 BTC. The Q3 Results The American business intelligence corporation continued to follow its BTC agenda during the third quarter of 2022 and bought more bitcoin. As of...

Cathie Wood of ARK Investment Management says the economy is heading into a downward spiral, and only bitcoin can help it. Cathie Wood Still Thinks Highly of BTC There has been an argument for the past few years that bitcoin, in some way, can serve as a potential hedge against inflation. That by investing in bitcoin, people can avoid crashing and burning when the dollar falls. However, this argument has been heavily challenged given the price of bitcoin has taken several...

Betterment – a large and independent robo-adviser – is allowing its customers to engage in crypto trading and investing by permitting them to place a small number of various crypto units into their portfolios. This is the first time the company has offered such services to its customers. Betterment Is Giving Customers the Chance to Invest in Crypto The news is a testament to how popular and powerful crypto remains. While the space is arguably experiencing some of the...

A new study has found nearly all crypto projects listed on Uniswap between 2018 and 2021 were malicious and scam-related.  The study titled DO NOT RUG ON ME: ZERO-DIMENSIONAL SCAM DETECTION, was conducted by three researchers; Bruno Mazorra, Victor Adan, and Vanesa Daza from the University of Pompeu Fabra and the University of Barcelona.  Could Uniswap Be Housing Fake Projects?  Uniswap was created in 2018, and the protocol describes itself as a growing network of...

Bitcoin initiated another leg up in the past 24 hours and charted a new two-month high. Several altcoins have also marked impressive gains in the past 24 hours, including MATIC, which tapped $1.2 earlier today. Bitcoin’s New Local Peak The primary cryptocurrency went through enhanced volatility at the start of the month, as CryptoPotato warned before, following events coming from the United States. At first, the Federal Reserve hiked the interest rate by 75 basis points,...

The popular Instagram influencer Jebara Igbara, also known as “Jay Manzini,” pleaded guilty to money laundering, wire fraud, and wire fraud conspiracy. He used the social media platform to promote various schemes to investors but, in fact, defrauded them with $8 million. In addition, Igbara told his followers he wanted to buy a huge amount of bitcoin and that authorized exchanges would not allow him to accumulate such a stash. He urged Instagram users to send him BTC,...

The issuer of the stablecoin USDC – Circle – announced investing in the Circle Reserve Fund to manage a portion of the USDC reserves. The SEC-registered fund was set up by BlackRock, and its portfolio will consist of cash and US Treasury funds. Circle Reserve Fund The government money market fund was created in partnership with the asset manager. According to the official blog post, it will only be available to Circle. The process of moving the reserves for its USDC...