Tag Archives: AA News

Research carried out by contributors of the Toronto Metropolitan University (TMU) estimated that 35% of Canadians owning digital assets had fallen victim to crypto fraud. The study further determined that approximately 9% of the locals have purchased cryptocurrencies or NFTs, with the share being higher among individuals who graduated from universities. Less Educated People Seem More Likely to Get Scammed The report, conducted via a representative survey of 2,000 Canadian...

In a rare good news story this week, Ethereum co-founder Vitalik Buterin revealed that, along with Polygon’s Sandeep Nailwal, he has pledged another $100 million for Covid relief. On June 9, Buterin said he and Sandeep “discussed and jointly concluded these and other projects are high-impact and need follow-through grants.” “Hence we decided to put $100 million more to these projects.” Last year, the pair donated a similar amount through the community-driven Crypto Relief...

Cardano is taking a massive beating throughout the past few days. The cryptocurrency is down a whopping 23% in the last 24 hours alone. The majority of the altcoins are also trading well in the red, triggering liquidations of close to $400 million. Cardano (ADA) and a bunch of other altcoins are plummeting today. ADA alone is down 23% in the past day as investors fear a potential clash with the SEC. Data from Coinglass shows that the entire market’s liquidations have ramped...

Following lawsuits against Binance and Coinbase, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has made his intentions clear about the digital assets class. These are securities, nothing less, he asserted in a recent interaction. They should be registered with the agency before being offered to investors or meet the requirements to seek exemptions, a CNBC report quoted him. He added that exchanges listing cryptocurrencies must also register themselves...

After over a decade, the Department of Justice (DOJ) has tracked down and charged the hackers who stole hundreds of thousands of Bitcoin from the defunct crypto exchange giant Mt. Gox.  The primary criminals identified are Russian nationals Alexey Bilyuchenko (43) and Aleksandr Verner (29). Mt Gox Hackers Found As stated by the DOJ in a press release on Friday, both Bilyuchenko and Verner are charged with “conspiring to launder approximately 647,000 bitcoins from their hack...

Seychelles-based cryptocurrency exchange OKX has implemented the 20th round of its Buy-Back and Burn program, burning nearly 5.5 million OKB tokens this time. According to a blog post, the total number of OKB tokens bought back from the secondary market and burned was 5,497,312.77, worth $258 million at a 90-day average. OKX Burns 5.5M OKB Tokens The crypto exchange launched the Buy-Back and Burn program in May 2019. It started repurchasing OKB from the original supply of 300...

Ethereum co-founder Vitalik Buterin believes Ethereum still requires “three major technical transitions” to fully mature as a tech stack – and anything less will be insufficient.  In a Friday blog post, the developer highlighted what’s needed to implement each of his ideal improvements, which could include “deep changes from applications and wallets.” Scaling, Security, and Privacy According to Buterin, Ethereum’s three transitions include layer-2 scaling (rollups), enhanced...

The largest banking institution in Russia by assets value – Sberbank – will reportedly enable private investors to buy and sell digital currencies in the following weeks. The entity jumped on the bandwagon a few years ago, attempting to launch several cryptocurrency projects. For one, it sought approval to issue its own digital currency and introduced the first blockchain-focused ETF in Russia.  Sberbank Pushes Forward As reported by a local media outlet, the bank will let...

Dan Sunghan – Director of the Financial Crime Investigation Bureau at the Seoul Southern District Prosecution Service – claimed that the former crypto mogul Do Kwon had moved nearly $30 million in digital currencies to an unknown wallet shortly after his arrest in Montenegro. The 31-year-old South Korean has faced huge criticism and was blamed for having a hand in the massive LUNA/USD collapse last year that triggered multi-billion investor losses. He allegedly spent several...

Commonwealth Bank of Australia (CBA), the largest bank in Australia, announced a temporary decline in “certain” payments to cryptocurrency exchanges as part of newly introduced measures to battle scams in the country. According to an official release, the CBA will decline or hold crypto payments for 24 hours or more. As part of the scam risk measures, the bank will also place a A$10,000 ($6,650) limit on the payments made to exchanges in the coming months. CBA to Pause...