Tag Archives: AA News

One of the largest financial institutions in South Korea – Woori Financial Group – will offer crypto custody services to its clients. Its banking unit – Woori Bank – will launch the initiative in a partnership with the fintech solutions provider – Coinplug Inc. Woori Bank Dives into Crypto According to a report from The Korean Economic Daily, Woori Bank will be the next South Korean bank to enter the digital asset custody services (DACS) market. The institution teamed up with...

The Swedish resident – Roger Nils-Jonas Karlsson – pleaded guilty to luring at least 3,575 people into a fraudulent Bitcoin investment scheme. According to the investigation, he embezzled more than $16 million from his illegal actions and will spend the next 15 years in federal prison. The Pension Plans Turned out to Be a BTC Scam The Department of Justice (DOJ) revealed that the 47-year-old Roger Nils-Jonas Karlsson skimmed thousands of people in a typical “Ponzi scheme”...

With Grayscale Bitcoin Trust (GBTC) biggest BTC unlocking event scheduled to happen in the middle of July, many market analysts and traders are worried about the potential effects of this event on bitcoin’s price and the crypto market in general. However, crypto trading firm, QCP Capital, believes the unlocking will not pose any significant threat to the market’s balance. What Is The GBTC Unlock? Grayscale Bitcoin Trust is the largest traded crypto fund in the world, owned by...

Approximately 8 out of 10 wealth managers and institutional investors from the US, France, Germany, the UAE, and the UK said they would enhance their crypto exposure between now and 2023. 40% of them plan to “dramatically increase their holdings.” High Hopes on Crypto A recent survey conducted by a European investment manager dedicated to cryptocurrencies – Nickel Digital Asset Management (Nickel) – revealed that more than 80% of the asked investors expect to increase their...

The cybersecurity firm Lookout detected numerous crypto mining scams employing hundreds of fake Android applications. The fraudulent scheme affected at least 93,000 people and stole more than $350,000 from them. Stealing Money Instead of Mining Crypto According to a recent report, the security company Lookout discovered 172 bogus Android applications meant to be used for digital assets mining. Instead, the apps turned out to scam at least 93,000 victims and embezzled some...

ChainSwap, a cross-chain asset bridge and application smart chain, has become the latest victim of the increasingly worrying exploits happening in the DeFi ecosystem that has caused the sector to lose hundreds of millions of dollars since the start of the year. What is ChainSwap? As a hub for smart chains, the ChainSwap protocol acts as a defi bridge for projects and users to seamlessly move assets between different blockchains like Ethereum (ERC20), Binance Smart Chain...

Cryptocurrencies have many use cases and vanity is one of them. Sotheby’s, one of the world’s most renowned auction houses, announced yesterday the sale of the second-largest pear-shaped diamond ever to be sold publicly, and the buyer paid in cryptocurrency. The auction house did not disclose the winner’s information, but according to an updated information shared by Sotheby’s, the mystery bidder paid for the diamond using cryptocurrency. Sotheby’s had announced in advance...

Nearly half of the UK residents aged between 18 and 29 admitted that their first investment was in digital assets. However, more than 50% of the youngsters used debt to purchase cryptocurrencies. Crypto is Attractive for The Young Britons A recent poll conducted by Opinium for the investment platform Interactive Investor revealed that 45% of 18-29-year-olds in the UK dived into the crypto market as a first-time investment in their lives. Out of all digital assets, bitcoin is...

Crypto influencers will no longer be allowed to promote crypto projects on TikTok after the popular social network released new guidelines on Friday. TikTok Bans Crypto Ads Updating its Brand Content Policy, TikTok noted that all the following forms of financial services and products are now banned from the social media platform: cryptocurrencies, trading platforms, pyramid schemes, “get rich quick” schemes, credit cards, loans, and some others. According to recent reports,...

On-chain data suggests that the bullish enthusiasm among bitcoin investors has been slashed, alongside its price. Even while the price has stabilized itself within the $30-35k range for weeks now, funding rates have been consistently negative for that entire time, indicating that investors don’t expect the price to return to its former highs anytime in the next short-term, at least judging by this metric. What are Funding Rates in the Bitcoin and Crypto Perpetuals? Due to the...