Tag Archives: AA News

Li Finance (LiFi) became the latest victim of cyber-attackers, with nearly $600,000 worth of cryptocurrencies stolen from 29 wallets. Shortly after, the team published a post explaining the issue and promised to reimburse all affected users. LiFi Falls Victim to a DeFi Hack The blockchain protocol explained that the attack occurred on March 20, 2022, when a hacker exploited LiFi’s smart contract (specifically its swapping feature), making users who gave infinite approval...

Qatar’s central bank plans to digitalize most of its products, including studying and potentially developing and launching a CBDC. One of the other directives from the institution involves issuing digital bank licenses. Qatar Enters the CBDC Race Speaking to The Peninsula at the 8th Doha Islamic Finance Conference, QCB’s Head of FinTech – Alanood Abdullah Al Muftah – outlined the organization’s new and digitalized direction. The bank has begun exploring various initiatives...

Jim Chanos, president and founder of Kynikos Associates, believes Coinbase (COIN) stocks are highly overpriced. As such, his NYC-registered investment entity has decided to short them, even though their value has declined by 50% since November. Ever since Coinbase became the largest cryptocurrency exchange to go live on Nasdaq as a publicly-traded company in April last year, the stock price movements have been largely affected by bitcoin and the rest of the market. As such,...

The launch of APE coin has undoubtedly been the story of the week. The cryptocurrency hit the public markets on Thursday after being airdropped to holders of NFTs associated with the Bored Ape Yacht Club (BAYC). It appears that large Ethereum holders are betting big on the token as well. Two of the largest Ethereum whales snagged a considerable number of APE a couple of days back. The transactions were flagged by popular whale-tracking resource WhaleStats. The first address...

The count of citizens leaving their homeland in Ukraine because of the ongoing war with Russia continues to increase. Estimates from various sources put the number anywhere between 2.5 and 4 million. Data from CBS News points at roughly 3 million people leaving Ukraine. Another report hints that Portugal is shaping as a preferred destination for a range of reasons, one of which being the crypto-friendly policies of the country. Ukrainians Seeking Refuge in Portugal A recent...

With the start of the war between Russia and Ukraine, cryptocurrencies have taken a few roles, being sent as donations to aid the attacked nation but also in speculations that Russian oligarchs used such assets to bypass sanctions. However, community insiders continue to refute these allegations, and the latest to do so was FTX’s founder – Sam Bankman-Fried. SBF’s Frustration It’s been almost a month since Russia launched its “special military operation” against its Eastern...

Earlier this month, the US Treasury Department released three-yearly reports covering money laundering, terrorist financing, and proliferation financing – all of which extensively discussed virtual assets. While noting many of their risks in these areas, they note that fiat currency and traditional networks are still far more commonly used than crypto in illicit finance. Crypto for Money Laundering The National Money Laundering Risk Assessment named “virtual assets” as an...

Non-fungible tokens continue to make headlines, but it seems that not all projects can maintain their previous valuations. One particularly hyped drop that took place last year – The Shiboshis – is down over 70% since all-time high. This is the official NFT project of the Shiba Inu team – one of the most popular memecoins. CryptoPotato reported earlier in 2021 on the Shiboshis: a collection of 10,000 non-fungible tokens depicting ‘lovable creatures.’ The sale took place in...

Last week, global investment bank Credit Suisse made a radical prediction: that the dollar’s era as the world reserve currency is coming to an end and that commodity money – such as gold – will rise to replace it. This week, BitMEX co-founder Arthur Hayes builds on those predictions. He, too, believes that hundreds of billions of dollars will flow into both gold and Bitcoin throughout the next decade. However, he is also “100% certain” that financial crisis and hyperinflation...

The US real estate investment trust – Noyack Logistics Income (NLI) – partnered with BitPay to embrace cryptocurrencies as a payment method. Moreover, the company became the first in its field to accept settlements of this type. NLI Jumps on the Bandwagon The latest organization to enable cryptocurrency settlements is the American alternative investment platform – Noyack Logistics Income. After a collaboration with BitPay, it allowed investors to fund their commitment with...