Crypto news

A new Celsius-themed Monopoly game is coming out for crypto users to “enjoy,” but the problem is that many people out there don’t seem too thrilled or amused by the product. In fact, this is now getting Celsius a lot more flak than when it decided to file bankruptcy and halt all withdrawals. Celsius Continues to Stoke the Fire We all probably remember playing Monopoly as a kid. The game would often take days, weeks, or even months given how strict you were with the...

The creator of the bitcoin Stock-to-Flow (S2F) model – PlanB – admitted that recently he made his third BTC investment. At the time of the purchase, the primary cryptocurrency was hovering around $20,000. Due to its significant price depreciation compared to the all-time high of $69,000 in November 2021, many people proclaimed bitcoin dead in the past several months. However, PlanB revealed that each of his crypto investments was at a time when pessimism was reigning. PlanB...

The region of Queensland in Australia has, as of late, been a hub for crypto fraud and related scams, and it looks like residents have lost close to $40 million at the time of writing. This is a huge uptick from the number reported just last year during this time, which was around $20 million. Australia and Crypto… Not the Greatest Match? Throughout Australia, as much as $263 million has been lost to crypto scams. Federal police in Australia now refer to the growing...

The US Securities and Exchange Commission brought charges against Kim Kardashian for promoting a crypto security – Ethereum Max. The popular US media personality, model, and businesswoman agreed to pay $1.26 million to settle the charges. CryptoPotato reported in January this year a lawsuit filed in California against Floyd Mayweather and Kim Kardashian, claiming that they misled investors by promoting a cryptocurrency security called EthereumMax (EMAX). The SEC announced on...

Stellar lumen price started a fresh increase above the $0.1100 resistance zone against the US Dollar. XLM price is now trading above $0.1140 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $0.1080 on the 4-hours chart (data feed via Kraken). The pair could continue to rise if it stays above the $0.1160 and $0.1140 support levels. Stellar lumen price is trading above $0.1140 against the US Dollar, similar...

Ripple price started a downside correction below $0.50 against the US dollar. The price is now trading below $0.4800 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.4640 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could rise again if it stays above the $0.4200 and $0.4000 support levels. Ripple price is correcting gains from $0.520 against the US Dollar, unlike bitcoin. XRP...

Thailand’s Securities and Exchange Commission (SEC) has accused Bitkub, the country’s largest cryptocurrency exchange, and four other offenders of their alleged involvement in wash trading. The individuals will have to pay a fine of over $600,000. Bitkub Involved in Wash Trading Case? According to a press release on Tuesday (September 27, 2022), the Thai SEC claimed that two individuals – Mr. Anurak and Mr. Sakon Srakawee – carried out wash trading on the Bitkub platform....

In a two-year-old gaming app fraud case, the top Indian financial crime investigating agency has frozen 85.9 bitcoins, equivalent to $1.6 million, held in an account on Binance. Separately, it also froze WRX, the native coin of WazirX, and USDT together, worth nearly $550,000. Earlier this month, the agency raided several premises in Kolkata in this case and recovered Indian currency equivalent to $2.2 million. The accused in this estimated $8.5 million scam is 25-year-old...

The United States Securities and Exchange Commission (SEC) has accused two companies, their executives, and a supposed international gold trader, of running a fraudulent scheme to boost demand for their digital token. The false promotion of the token netted proceeds of over $36 million for the defendants, the agency said. A Fake $10 Billion Gold Bullion Acquisition According to a lawsuit filed on Friday (September 30, 2022), a Bermudan company called Arbitrade, a Canadian...

While institutional traders are not prevalent in Sub-Saharan Africa, the region is known to have the highest number of small retail transactions globally. Part of the driving force for cryptocurrency adoption there is fiat currency devaluation, high unemployment rate, and economic instability. Crypto P2P Thriving in Africa Despite Regulatory Problems According to a report by blockchain analytics firm Chainalysis, retail users make up the bulk of crypto-related activities in...