Tag Archives: social

The Swiss National Bank’s (SNB) Chairman Thomas Jordan revealed that the bank has decided not to have the world’s largest cryptocurrency on its balance sheet. At the same time, though, the organization is mulling over digital currencies to an extent. Bitcoin, Not Yet At the central bank’s annual general meeting on Friday, the Chairman stated that SNB does not believe that Bitcoin meets the requirements of currency reserves in the current perspective. Adding BTC to its balance...

The Germany-based soccer media company – OneFootball – raised $300 million to double down on its presence in the Web3 ecosystem. The American blockchain fund – Liberty City Ventures, the Hong Kong-headquartered Animoca Brands, and other investment giants led the financing. OneFootball’s Jump Into the Blockchain Universe OneFootball – a soccer media application that features live scores, statistics, and news – became the latest sports-related entity to dip its toes in the...

Gibraltar, a small British overseas territory, has released a new guideline for cryptocurrency businesses operating in the region, which aims to foster market Integrity and combat market manipulation. The Gibraltar Financial Services Commission (GFSC) published the regulatory principle on Wednesday (April 27, 2022). The new rule was drafted by a special working group comprising government officials and experts in the crypto and blockchain industry. Governments and regulators...

South Korea arrested two citizens on the charge of stealing military secrets for a North Korean spy, who paid them with cryptocurrency. One of the two is a crypto exchange executive who has received $600,000 since working for the agent last year. South Korea is yet to catch the North Korean spy, who – the authorities believe – is operating overseas. Infiltrating South Korea’s Military Department According to South Korean police and prosecution officials, the head of the...

Ronin Network – an Ethereum-linked sidechain – assured it identified the hackers related to last month’s $600M+ exploit, and all user funds are “in the process of being restored.” Additionally, the entity implemented enhanced security measures to prevent such attacks in the future. Further Details on the Hack The project revealed that the cyber assault happened on March 23 and was identified on March 29 by the Sky Mavis team. “We didn’t have a proper tracking system for...

The Proof-of-Work (PoW) consensus mechanism, which relies on crypto mining to validate transactions, is a pioneering concept that, in fact, pre-existed Bitcoin. But it is often criticized due to its environmental impact. Many proponents of clean energy consider high energy consumption to be an “Achilles Heel” for Bitcoin. The latest to weigh in on the matter was Solana’s co-founder, who gave his two cents on why BTC should make the transition. Anatoly Yakovenko, the...

The past seven days haven’t been particularly favorable for the cryptocurrency in terms of price action. Bitcoin dropped below $40K and is currently unable to reclaim the important psychological level, while many altcoins followed a similar, if not tougher, path. This time last week, BTC was trading at around $42,000, but this didn’t last long. The cryptocurrency began declining last Friday, and by Saturday, it was already trading below $40K. The beginning of the workweek...

Madison Cawthorn, a Republican congressman from North Carolina, has been accused of his involvement in a pump and dump crypto scheme dubbed Lets Go Brandon (LETSGO). According to a recent report by the Washington Examiner, several regulatory watchdogs have implicated Cawthorn in an alleged insider trading scheme involving the relatively short-lived crypto project. Let’s Gо Crypto Pump and Dump Scheme Let’s Go Brandon is a memecoin named after the chant mocking President Joe...

The crypto-focussed investment firm Dragonfly Capital has announced closing its third fund with $650 million in capital. Some of the limited partners were Tiger Global, KKR, Sequoia China, Ivy League endowments, Invesco, and Top Tier Capital Partners, among others. Dragonfly Fund III Dubbed “Dragonfly Fund III,” the fund’s valuation is twice that of the previous two, which totaled $300 million combined. According to the filing with the US Securities and Exchange Commission...

According to the American non-profit organization – the National Bureau of Economic Research (NBER) – the majority of El Salvadorans (60%) have not downloaded the Chivo Wallet (a feature that facilitates bitcoin transactions). Additionally, there have been almost no downloads since September 2021, when the country became the first nation to adopt the asset as legal tender. Bitcoin Adoption in El Salvador Not Progressing Last year, the Central American state made the headlines...