Crypto news

Ukraine’s president has officially signed the virtual asset bill to legalize cryptocurrencies for income, exchange, and business, as approved by parliament last month. This comes after weeks of financial support from the crypto community for help in fending off Russia’s invasion. According to a statement from the Ministry of Digital Transformation of Ukraine, the new law creates conditions for a legal virtual asset market in the country. It will be regulated by the National...

Digital asset custodian Hex Trust has announced raising $88 million in a Series B funding round. As per the official blog post, the funding round was led by Animoca Brands and Liberty City Ventures. Hex will deploy the funds towards expanding its footprint and scaling its operations. Hex Trust’s Funding Round The funding round also saw participation from Ripple, Terra, Morgan Creek, Primavera Venture Partners, LeadBlock Partners, Eterna Capital, Sino Global Capital, Topaz, as...

Michael Saylor – the CEO of software giant MicroStrategy, arguably the biggest institutional bitcoin bull around – has stated that bitcoin’s scarcity is ultimately what makes the currency the strongest asset in the world, right now. He says nothing – not even gold – can compare to bitcoin because it is the only thing that cannot be created indefinitely. Michael Saylor On Bitcoin’s Scarcity In a recent interview, Saylor described bitcoin as a “magical” asset given that...

Aave – the popular web 3.0 lending protocol – has released its anticipated V3 update. The new version includes multiple new features that reportedly offer “increased capital efficiency” and “enhanced decentralization”. According to an announcement from the company,  one of the new features includes “Portals” allowing for transfers of Aave V3 assets across different chains by “permit listed” bridge protocols, approved by Aave governance. Many chains will be available given...

US Attorney Dena J. King announced that law enforcement seized $547,000 worth of bitcoin from a criminal who conned an elderly person last year. The officials will return all funds to the victim. Cracking Down a Crypto Scam In its latest efforts to fight fraudulent activities involving cryptocurrencies, American officials confiscated more than $500,000 in bitcoin from a criminal. The latter drained the funds from an elderly Ashville resident last year, as the sum represented...

It is clear the recent executive order signed by Joe Biden regarding crypto regulation that everyone was so excited about isn’t enough to keep the bitcoin price flying high. At that time, the asset rose to about $43,000, which while not great, was considerably higher than where it had been in recent days. Now, it looks like the currency has dropped to a low of $39,000 per unit. Thus, Biden does not possess the magic that so many analysts seemed to think he had. The...

Following bitcoin, The crypto market is having a green day so far. Investors who hold altcoins are optimistic and hoping for a trend reversal. The Daily Chart Technical analysis by Grizzly On the daily timeframe, Ripple experienced fluctuations inside its Fibonacci channel over the last two years, starting since the Covid crash in March 2020. The price failed to reach its ATH at $3.3 and began a ‘boring’ correction in May last year. The news regarding the Ripple vs. SEC case...

The Federal Reserve has raised interest rates for the first time since 2018 after months of promising to address inflationary pressure in the United States. The hike – a moderate 25 basis point increase – was immediately followed by Bitcoin falling under $40,000 again. At the Federal Open Markets Committee meeting on Wednesday, the Fed cited rising concern over inflation in the context of supply chain difficulties and the new war in Ukraine as justification for its move. In...

One of today’s fastest-growing business areas is the creator economy. Web 2.0 platforms are no longer relied upon by creators for the infrastructure that they have traditionally given in order to make money. Creators are migrating their audience away from larger platforms and onto their own websites and apps to adopt new monetization strategies. The power of creators can encourage widespread adoption of cryptocurrencies by providing direct, secure, and fast transactions....

Kraken – a popular cryptocurrency exchange based in San Francisco, CA – has announced it will donate approximately $10 million in bitcoin to citizens of Ukraine affected by the recent Russian invasion. Kraken Is Giving Crypto to Ukrainian Customers A few weeks ago, Russia invaded its eastern European neighbor, and the battle has seemingly led to countless civilian deaths. Not long ago, the world watched in horror as Russian troops allegedly bombed the maternity ward of a...