Month: March 2021

Hong Kong Security Crackdown Leads to Record Capital Outflows— Residents Reportedly Used Cryptocurrencies to Move Funds – Finance Bitcoin News

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The Canadian anti-money laundering agency, Fintrac, says it recorded official capital inflows originating from Hong Kong that totaled more than $34 billion in the past year. The outflows, which are the highest since 2012 when the earliest Fintrac records are available, “are the first evidence of a significant flight of capital overseas from the Asian financial hub following the security turmoil.” Accounts Frozen As detailed by one report, the city’s record capital transfers, which are “up 46 per cent from 2016 and 10 percent from 2019, came in a year…

PureStake Completes $6M Funding Round for Moonbeam Network to Aid Mainnet Launch

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The Moonbeam Network is an Ethereum-compatible smart contract platform on the Polkadot network designed to allow for interoperability across chains. Protocol implementation services provider PureStake has completed a $6 million funding round for one of its flagship projects, the Moonbeam Network. According to the official announcement by the tech startup, the funding round was led by CoinFund, a leading blockchain-centric investment firm. Other partners on the record that supported the PureStake funding round include Binance Labs, ParaFi, Coinbase Ventures, Fenbushi Capital, IOSG Ventures, and other existing partners. PureStake Funding Round…

BITCOIN TO £200,000?! SO SHOULD YOU INVEST IN CRYPTOCURRENCY?! WHEN TO INVEST AND MORE 2021

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io BITCOIN TO £200,000?! SO SHOULD YOU INVEST IN CRYPTOCURRENCY?! WHEN TO INVEST AND MORE 2021 Support The Channel! Everyone is talking about bitcoin right now. SO?! I had to make a video on it. I hope In Sha Allah you guys can see where money can be made it can be lost just as quickly. So just be careful and don’t get too carried away! Will it hit £200,000!? Honestly I don’t think anyone does know but people think it’s possible. When…

The Ethereum Improvement Proposal 1559: Is the squeeze worth the juice?

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What the planned EIP-1559 could mean for Ethereum, DeFi and miners. The Ethereum Improvement Proposal 1559, set to be bundled together with the “London” upgrade in July, has caused as much excitement as fear and panic. On the surface, EIP-1559 is nothing more than a change in Ethereum’s gas fee structure. And to spice it up, it has also been labeled as Ethereum’s scarcity engine, or burn mechanism, as it will destroy Ether (ETH) used in transaction fees, making the cryptocurrency deflationary, and perhaps more valuable down the line.  Related:…

Trekkies Rejoice, Real World Shatner NFTs Now Available to Buy

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Best known for playing Captain James T. Kirk in the iconic Star Trek franchise, William Shatner is selling signed and authenticated NFTs. In conjunction with Mattereum, Shatner is auctioning real-world asset non-fungible tokens (rwaNFTs) via the OpenSea marketplace. Who wants the first real world cigar on the blockchain? Or Denny Crane prop Business card? @justinsuntron? @VitalikButerin? @cameron? 🤷🏼‍♂️ There’s @StarTrek props & @MegoCorp signed Captain Kirk action figures all 1sts & guaranteed via authentication to be genuine for eternity!👇🏻🙌🏻 https://t.co/YbJn5CZtdO — William Shatner (@WilliamShatner) March 30, 2021 Real World NFTs…

Bitcoin (BTC) Price Sheds Over $2K in Few Minutes Liquidating Over $600M in Longs

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Increased volatility in Bitcoin price in the past 24 hours has resulted in total liquidation of approximately $1 billion.  Bitcoin (BTC) price experienced increased volatility in a short time frame that saw the asset drop from $59,700 to below $56 in a few minutes. Consequently, over $600 million was liquidated. Meanwhile, Bitcoin price has stabilized around $58k at the time of reporting. The sudden dip in Bitcoin (BTC) price carried with it almost the entire altcoin market as traders fled the highly volatile market. Worth noting, the stablecoin market led…

CME Develops Micro Bitcoin Futures, Set to Launch This May

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The CME is set to launch micro Bitcoin futures in May. The new investment tool aims to include sidelined clients and ensure more precision, risk management and choice. In an aim to bring in new clientele, the Chicago Mercantile Exchange (CME) announced on Tuesday its plans to launch micro Bitcoin futures. The firm plans to go live with this as early as May 03 pending regulatory approval. The CME noted that the futures will be sized at one-tenth of Bitcoin and will be settled with cash. Tim McCourt, CME Group…

NBA Top Shot Development Firm Dapper Labs Gets $305M in Funding

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According to the CEO of Dapper Labs, Roham Gharegozlou, the NFT tokens give fans of the sport a new and “exciting way to connect with their favorite teams and players.” Dapper Labs, the developing team behind the popular NBA Top Shot just completed a funding round of around $305 million which was led by investment companies like Coatue and also included former NBA basketball player Michael Jordan and current ones like Kevin Durant, Alex Caruso, Klay Thompson, and Andre Iguodala plus a host of others. This current round of funding…

Ethereum Shows Altitude Sickening as Price Drops At Key Resistance

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Ethereum prices dropped on Wednesday as traders decided to secure their short-term profits at the cryptocurrency’s sessional high. The second-largest blockchain asset plunged by up to 4.92 percent to its mid-March support level of $1,771. Its move downhill appeared mostly due to its strong positive correlation with Bitcoin, the world’s leading cryptocurrency by market cap. Bitcoin corrected by 4.89 percent from an intraday high just shy of $60,000. The corrections appeared alongside a sharp uptick in the US dollar index. The index, which measures the greenback’s performance against a basket…

UK crypto firms must now submit yearly financial crimes reports

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The United Kingdom’s Financial Conduct Authority has included cryptoasset businesses under the financial crimes reporting umbrella eight months after initially announcing plans to do so. The FCA made this known via a policy statement issued on its website on Wednesday. This move comes as the country’s financial regulator has increased the number of firms required to submit annual financial crime report known as “REP-CRIM” from 2,500 to about 7,000. According to the policy statement, the FCA declared that compliance with REP-CRIM reporting was a necessary tool to enable regulators to…