Tag Archives: AA News

Two leading South Korean cryptocurrency exchanges, UpBit and Bithumb, have issued a warning for Litecoin after the activation of MimbleWimble Extension Blocks (MWEB). Growing Concerns UpBit revealed terminating “transaction support for digital assets with technology that makes transmission records indistinguishable from the past” while pointing to Korea’s Act on the Reporting and Use of Specific Financial Transaction Information. Under this act, crypto exchanges in the...

As BTC gets rejected from $30,000 and ETH slides below $2,000, the broader crypto market is deep in the red zone. As of now, half of the top 30 cryptocurrencies are 80% (or more) down from ATHs. Altcoins in Bloodbath After major cryptocurrencies hit ATHs last November, with Bitcoin touching the $69,000 level at one point, a months-long bear market has brought 15 of the top 30 cryptocurrencies 80% down from their record highs. As the selloff extends in time with no signs of...

The French fashion brand – Balenciaga – will reportedly embrace cryptocurrencies as a payment method for its products. Initially, the offering will be available at the firm’s US shops on Madison Avenue in New York and Rodeo Drive in Beverly Hills, Los Angeles. Balenciaga Catching the Crypto Wave According to a recent coverage, Balenciaga will allow its American customers to buy clothes, shoes, bags, and other products using bitcoin and ether. Customers will also be able to...

Sumitomo Mitsui Trust – one of the largest asset managers in Asia – will tap Tokyo-based crypto exchange Bitbank to set up a company offering digital asset services to institutional clients this year. The newly created firm will hold cryptocurrencies and Non-Fungible Tokens (NFTs) for “large investors and corporations.” Sumitomo Mitsui Trust Focused on Security Issues Sumitomo Mitsui Trust’s latest crypto partner Bitbank reportedly ranked as the third-largest crypto exchange...

Australia’s newly-elected Prime Minister – Anthony Albanese – reportedly has three top issues to deal with it as the new leader of the country. These include battling climate change, reducing the cost of living, and imposing comprehensive rules on the cryptocurrency industry. Crypto Included as a top Priority The Australian Labor Party won the government elections and will try to guide the nation through the economically turbulent times ahead. For his part, the leader of the...

Difficult to prove, yet often suspected, insider trading has been a staple practice of dishonest investors ever since the stock markets took off. Over time, regulators like the SEC were founded in order to fight the phenomenon – despite it being an elusive one hard to pin on a perpetrator. This is due to the nature of insider trading, which can be set off by nothing more than a seemingly off-hand comment about a company or other between acquaintances behind closed doors....

China may have banned cryptocurrencies on its territory, but blockchain technology remains a key priority area for the government. Its global ambitions in this space are just taking off with BSN Spartan Network, which is advertised to be open-source and free from the Chinese government’s snooping. BSN’s Spartan Network Blockchain-based Service Network (BSN), a project backed by the Chinese government, is planning to launch its first major international service, the Spartan...

Earlier this month, the crypto industry suffered a huge setback after Terra’s algorithmic stablecoin UST depegged from the US dollar and caused LUNA to lose 99.9% of its value. Shortly after the crash, Terraform Labs’ CEO Do Kwon proposed a revival plan for the Terra ecosystem. It centered on forking the current chain, abandoning UST, and creating a new token that will be distributed to investors based on the losses they incurred during the catastrophic event. Do Kwon Shares...

American video game retailer GameStop announced the launch of its digital asset wallet. Following the development, shares of GameStop (GME) rose by more than 2% premarket on Monday to $98.02. It was currently trading at $95.66. GameStop Wallet GameStop’s new self-custodial Ethereum wallet will allow users to store, send, receive and use cryptocurrencies and non-fungible tokens (NFTs) across decentralized apps without having to leave their web browsers, the company said. It is...

Despite reclaiming the $30,000 mark late last night, bitcoin still closed the weekly candle in the red. Thus, the cryptocurrency extended its negative streak to eight consecutive weeks. 8 in a Row in Red A lot can change in the cryptocurrency space in two months, and it definitely did for bitcoin. The asset stood close to $50,000 at the end of March, and when the community expected a run towards that level, the landscape changed, BTC reversed its trajectory and headed for its...