Tag Archives: AA News

A recent study by blockchain analytics firm Chainalysis found that 24% of the tokens launched in 2022 had the characteristics of pump-and-dump schemes. Most of the tokens plunged by 90% in the first week of their launch after their creators dumped their holdings. This, according to Chainalysis, is a typical feature of a pump and dump scheme. Over 9,000 New Tokens in 2022 Were Fraudulent  Crypto pump-and-dump schemes involve the creators of a digital asset hyping and promoting...

Last year was less profitable for crypto scammers as their revenue plunged nearly 50% in 2022, according to a new study by blockchain analytics firm Chainalysis. The blockchain company noted that the decrease in revenue could be linked to the decline in the value of cryptocurrencies due to the correlation of most scam types with bitcoin’s price. Crypto Scam Revenue Dropped to $5.9B in 2022 Crypto scam revenue started 2022 on an upward trend but came spiraling down in May at...

The United Kingdom’s crypto and fintech industries saw investment dry up in the latter half of 2022 amid a combination of turbulent macroeconomic conditions and record-high inflation. Businesses in the region completed a total of 591 fintech deals in 2022, compared to 724 in 2021.  The Fintech Trajectory According to Bloomberg, the data comes from a report published Wednesday by the big four accounting firm, KPMG. Its numbers show a $22 billion drop in Fintech investment in...

A British pensioner living in Nottinghamshire parted with $207,000 after becoming a victim of a bitcoin romance scam. The police managed to restore some of the stolen funds and warned people to be extra vigilant with online dating due to the rise of similar frauds. The Latest BTC Romance Scheme The Nottinghamshire police said a woman in her 70s transferred over $200,000 to a suspicious bitcoin address belonging to an individual she was dating online. The person in question...

The central bank of Japan will reportedly start testing the employment of a digital yen in April this year.  The institution has previously said they could take Sweden as a model for how to launch a CBDC. Catching up With China As reported by CNBC, the testing phase includes processing simulated transactions with private financial companies. Shinichi Uchida – Executive Director at the Bank of Japan – said consumers and retailers will be excluded from the experiment. “Our hope...

Novotel Bahrain Al Dana Resort reportedly became the first hotel in the country to accept cryptocurrencies as a means of payment.  Other hotels located on the Arabian peninsula that embraced digital assets during the past several months include W Dubai – The Palm and Palazzo Versace Dubai. Entering the World of Crypto According to recent coverage, Novotel Bahrain Al Dana Resort partnered with Eazy Financial Services to allow guests to settle accommodation bills in...

Sony Network Communications (a tech provider under the umbrella of the Sony Group) partnered with Polkadot’s innovation hub – Astar Network – to present a Web3 Incubation Program. Users willing to join can apply until March 6, 2023.  Focusing on NFTs and DAOs  According to a document seen by CryptoPotato, the program will run from mid-March to mid-June, as people can apply from February 17 until March 6. The partners will review the inquiries and approve 10 to 15 users. Sony...

Non-fungible token (NFT) marketplace giant OpenSea announced some changes to its fee structure.  This comes amid an open challenge by one of its competitors, which suggested that NFT creators boycott OpenSea. In a tweet thread on Friday (Feb. 17, 2023), OpenSea made some structural changes in the wake of stiff competition by rival marketplace Blur. We’re making some big changes today:1) OpenSea fee → 0% for a limited time2) Moving to optional creator earnings (0.5% min) for...

Hong Kong’s position as an upcoming hub of crypto businesses is being increasingly noticed and discussed in the relevant circles. In a tweet, Coinbase CEO Brian Armstrong referred to the city-state to stress that the United States may lose its position as the financial hub of the world for lacking crypto regulations. Armstrong Calls for Regulations “America risks losing it’s status as a financial hub long term, with no clear regs on crypto, and a hostile environment from...

On February 17, the Securities and Exchange Commission (SEC) charged NBA Hall of Famer Paul Pierce with illegally promoting the EMAX token on his social media accounts. The EMAX token was offered and sold by EthereumMax. According to the complaint, Pierce has agreed to pay a penalty of $1,115,000, plus approximately $240,000 in disgorgement and prejudgment interest, without admitting or denying guilt, to avoid greater sanctions from regulators. He is also prohibited from...