Crypto news

The US Office of Foreign Assets Control (OFAC) assigned popular crypto tumbler Tornado Cash as an entity on the Specially Designated Nationals (SDN) sanction list last month which triggered an outcry from privacy and free speech advocates. Subsequently, Microsoft-owned GitHub removed its source code as well as terminated the user accounts of three individuals who contributed code to the project. In a recent turn of events, the platform unbanned the coin mixer and contributors...

Singapore says it’s considering introducing new laws that will make it much harder for crypto retail investors to trade digital assets during this time. The nation’s regulators say they are truly concerned about the ongoing risks involved with virtual money. Singapore Is Worried About Crypto Trading Singapore has stated that many people getting involved in crypto are simply doing so because they are experiencing fear of missing out or “FOMO.” Regulators say people are...

The past seven days were quite painful in the cryptocurrency market as the majority of it is trading well in the red. This resulted in $40 billion being lost from the total capitalization, which is inching closer to $900 billion. The most obvious outlier in this is Ripple’s XRP which soared by 50%. Let’s unpack. Bitcoin’s price is currently sitting slightly below $19,000, down 5.7% in the past week. Seven days ago, it was trading at around $19,500 and even managed to poke...

Ethereum – the world’s second largest digital currency by market cap and the number one competitor to bitcoin – allegedly experienced its turn from proof of work (PoW) to proof of stake (PoS) just over a week ago. Ethereum Has Completed the “Merge” Many are wondering how much energy is slated to be saved now that Ethereum has made the move it’s been talking about for the past God knows how many years, and according to one analyst, Ethereum is slated to bring its energy...

XRP is the best-performing cryptocurrency in the past seven days, and it’s not even close. Trading at around $0.50, it’s up by more than 50%, leaving all other major altcoins in the dust. This has had the entire community speculating on possible reasons, so we take a look at two of them that might have caused the surge. The Ripple-SEC Case The case between the US Securities and Exchange Commission and Ripple is one that the entire industry is looking at, for the way it ends...

[PRESS RELEASE – Please Read Disclaimer] 14,000 projects exist on CoinMarketCap, and regardless of their existence as a layer 1 or 2, a DeFi, NFT, or metaverse protocol, the macro and micro headwinds facing all blockchain projects in this bear market are brutal. How well prepared are crypto projects to survive this bear market? According to Invest In Blockchain industry study, only 36 of the top 100 cryptocurrencies have working products and less than 50% of all projects with...

[PRESS RELEASE – Please Read Disclaimer] Mad Backpacks, the first Find-to-Earn game by WeWay, expands the variety of games in this genre.The increasing number of Move-to-Earn games has led to a significant splash in market development. There are dozens of new applications aimed at motivating people to do something useful — work out, learn something new, gain new skills, and so on. A bright example is the Australian STEPN project, where people can earn income from crypto...

Bitcoin took another hefty fall in late August. The world’s number one digital currency by market cap fell to just over $20,000 following the speech given by Jerome Powell of the Fed in which he talked about the state of the economy. Bitcoin Is Continuing to Experience Bearish Trends Powell hinted that more rate hikes were likely in order, meaning bitcoin is set to suffer further at the hands of what can only be considered, at this point, to be an extremely incompetent...

Compute North, which happens to be the latest casualty of the ongoing crypto rout, has filed for a Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas. The filing is pending before the Judge Bankruptcy David R Jones. The company’s CEO, Dave Perrill, also stepped down from his position earlier this month but will continue to remain on the board. Compute North in Trouble Under the terms of the filing, the firm will be able to continue its...

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Binance Coin. Ethereum (ETH) Despite the bullish fundamentals of Ethereum’s merge, the price of the second largest cryptocurrency has continued its downtrend and registered a 10% loss in the past seven days. At the time of this post, ETH managed to find some support at $1,250, but this level remains fragile. The resistance is not far away at $1,400, and bears will likely come in strong if the price...