Tag Archives: social

Bitcoin initiated another leg up in the past 24 hours and charted a new two-month high. Several altcoins have also marked impressive gains in the past 24 hours, including MATIC, which tapped $1.2 earlier today. Bitcoin’s New Local Peak The primary cryptocurrency went through enhanced volatility at the start of the month, as CryptoPotato warned before, following events coming from the United States. At first, the Federal Reserve hiked the interest rate by 75 basis points,...

The popular Instagram influencer Jebara Igbara, also known as “Jay Manzini,” pleaded guilty to money laundering, wire fraud, and wire fraud conspiracy. He used the social media platform to promote various schemes to investors but, in fact, defrauded them with $8 million. In addition, Igbara told his followers he wanted to buy a huge amount of bitcoin and that authorized exchanges would not allow him to accumulate such a stash. He urged Instagram users to send him BTC,...

The issuer of the stablecoin USDC – Circle – announced investing in the Circle Reserve Fund to manage a portion of the USDC reserves. The SEC-registered fund was set up by BlackRock, and its portfolio will consist of cash and US Treasury funds. Circle Reserve Fund The government money market fund was created in partnership with the asset manager. According to the official blog post, it will only be available to Circle. The process of moving the reserves for its USDC...

The past seven days have been particularly dynamic in the cryptocurrency industry as its total market capitalization soared by a considerable $70 billion. This happened on the back of major gains for most coins, with certain exceptions. Let’s dive in. Kicking it off with Bitcoin, it’s up 3% in the past seven days, and it’s currently found at $21K. Throughout the majority of the week, BTC was trading in a downtrend, but a few hours ago, the bulls managed to pull themselves...

India’s anti-crypto policy came into sharp focus at the prestigious Singapore Fintech Festival (2-4 November), where Binance CEO flagged high tax rates as undoing the fledgling crypto business in the country.  With over 60,000 participants and 850 speakers representing top global financial services, banks, and policymaking bodies, Singapore Fintech Festival (SFF) is one of the most awaited events in the digital assets and fintech industry.  CZ on Indian Crypto Taxes Binance...

As the valuation of cryptocurrencies wanes across the board, so do the revenues of platforms dealing with them. Although primarily a stock trading platform, Robinhood added crypto to its portfolio back in early 2022. At the time, over 1.2 million people were on the waiting list to get a piece of the digital asset pie. Unfortunately, the crypto market took a tumble shortly after – and the company’s revenues did too. Stocks Are Up, Crypto Is Down According to Robinhood’s...

SKYWARD, the native token of NEAR-based platform Skyward Finance, plunged by 95% after the protocol’s treasury lost $3 million in a smart contract exploit. The attack occurred in the late hours of Wednesday and was first reported by Twitter user Sanket Naikwadi before Skyward Finance publicly acknowledged the incident.  How it Happened According to Naikwadi, the exploit was first noticed by NearScout, a member of the NEAR blockchain community. The attackers were able to make...

Polygon (MATIC) was among the best performers in the top 20 cryptocurrencies in the last 24 hours. The token gained nearly 17% and traded at $0.98 for the first time since mid-August.  Although its valuation has retraced to $0.95, here are three possible reasons behind MATIC’s impressive 17% increase.  MATICUSD. Source: TradingViewMeta Picks Polygon for NFT Minting On November 2, Ryan Wyatt, CEO of Polygon Studios, announced that Meta, the parent company of social media...

Money transfer services giant MoneyGram will now allow customers to trade and hold some major cryptocurrencies using the company’s mobile app. The move marks an expansion to MoneyGram’s native crypto support as it previously enabled users to buy and withdraw Bitcoin in the United States. According to a press release on Tuesday (November 1, 2022). MoneyGram introduced a new feature that will allow customers to buy, sell, and store Bitcoin, Ether, and Litecoin. The company...

The issuer of the stablecoin USDC – Circle – and the blockchain infrastructure platform – Paxos – received licenses from the Monetary Authority of Singapore (MAS) to offer services in the city-state. The country’s top financial regulator has greenlighted numerous digital asset firms over the past several months, including CryptoCom, Genesis, and Sparrow. Circle’s Authorization The US-based stablecoin issuer obtained in-Principle Approval as a Major Payments Institution...