Day: January 9, 2022

Bitcoin Leaving Exchanges, but It’s Not What You Think: Crypto Analyst Nicholas Merten

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Crypto analyst Nicholas Merten says that while Bitcoin (BTC) flying out of exchanges may look bullish, there could be more than meets the eye. In a new video, Merten takes a look at a metric from blockchain tracker Glassnode that shows the supply of Bitcoin slowly declining on crypto exchanges. On the surface, the declining supply of BTC on crypto exchanges may seem bullish. However, the analyst points out that the metric doesn’t include the futures and options markets. He suggests that more and more crypto is actually just going…

How Projects are Revolutionizing Crypto Staking Through Referral Programs

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Once reserved for the pros in the crypto space, staking has become a common practice across all participants in the space. Today, anyone has an opportunity to earn passive income on their crypto assets in just a few clicks, whether on a centralized exchange or DEX. Over the past two years, centralized exchanges such as Binance and Coinbase have introduced staking to their users, compelling decentralized exchanges, or DEXs, to follow suit. At the height of the DeFi boom in 2021, over $110 billion in value was locked on decentralized…

Pakistan to investigate Binance for multi-million dollar crypto scam

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Pakistan’s Federal Investigation Agency (FIA) reportedly issued a formal notice to crypto exchange Binance in an effort to identify links around a multi-million crypto scam in the region.  The government of Pakistan started a criminal investigation after receiving numerous complaints against an ongoing scam that involved misleading investors into sending funds from Binance wallets to unknown 3rd-party wallets. According to local coverage, the FIA’s Cyber Crime Wing has issued an order of attendance to Binance Pakistan’s GM Hamza Khan to identify the exchange’s link to “fraudulent online investment mobile applications.”…

Samsung Reveals Virtual Store 837X in Decentraland Metaverse With NFT Badges and Theater – Bitcoin News

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After the electronics giant Samsung disclosed the firm’s upcoming 2022 smart televisions would boast non-fungible token (NFT) support, the company has revealed it has opened a virtual store inside the Decentraland metaverse. Modeled from the physical store Samsung 837, Samsung’s metaverse store is called “Samsung 837X.” Samsung Steps Into the Metaverse Samsung is all about the metaverse and NFTs these days, as the company has opened a store within the blockchain virtual metaverse Decentraland. The Samsung 837X store is modeled from the physical location in New York City, and the…

Crypto Fear and Greed Index Score Hits 5 Month Low, Analyzed Sentiment Points to ‘Extreme Fear’ – Markets and Prices Bitcoin News

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On January 8, 2022, the price of bitcoin dropped to $40,517 per unit just after 1 p.m. (EST) on Saturday afternoon. According to the Crypto Fear & Greed Index (CFGI), sentiment shows “extreme fear” is in the air, and the CFGI score is a 10. The last time the CFGI score was this low was 171 days ago on July 21, 2021. Current CFGI Sentiment Shows ‘Extreme Fear’ — Bitcoin’s Price 39% Lower Than All-Time High Digital currency markets shed billions in value this past week and the leading crypto…

LCX loses $6.8M in a hot wallet compromise over Ethereum blockchain

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The hot wallet compromise was followed by an unauthorized transfer of eight types of ERC-20 tokens including ETH, USDC, LINK and MKR. The hack was first identified by PeckShield, a blockchain security company, based on the suspicious transfer of ERC-20 tokens from LXC to an unknown Ethereum (ETH) wallet. Liechtenstein-based crypto exchange LCX has confirmed the compromise of one of its hot wallets after temporarily suspending all deposits and withdrawals on the platform.  hot wallet compromised? @lcx https://t.co/uL5a7oCFfM — PeckShield Inc. (@peckshield) January 9, 2022 The probable hot wallet compromise…

SEC Charges Australian ‘Man Behind the Machine’ in $41M Crypto Fraud Scheme – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has charged an Australian citizen who called himself the “Man behind the Machine” in a fraudulent crypto scheme that raised almost $41 million. He and his companies made “materially false and misleading statements in connection with an unregistered offer and sale of digital asset securities.” ‘Man Behind the Machine’ Charged by SEC The SEC announced Thursday charges against Australian citizen Craig Sproule and two companies he founded for “defrauding Investors.” The two companies are Crowd Machine Inc. and Metavine Inc. The SEC alleged…

Payments Giant Explores Launching Stablecoin to Boost Crypto Offerings – Featured Bitcoin News

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Paypal is reportedly working on a stablecoin backed by the U.S. dollar to expand its cryptocurrency offerings. “We will, of course, work closely with relevant regulators,” the company stressed. Paypal Is Exploring Launching Its Own USD-Backed Stablecoin Paypal Holdings Inc. is reportedly exploring the launch of its own stablecoin backed by the U.S. dollar as part of the company’s cryptocurrency push, Bloomberg reported Friday. Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at Paypal, confirmed to the publication: We are exploring a stablecoin; if and when…

U.S. Crypto Exchange Volumes Fall Alongside Prices

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Cryptocurrency exchanges are the most battered alongside the recent fall in digital asset prices as trading volumes fall off as well Traders are sitting on the sidelines either way, with buying activity keeping the support of US$40,000 intact for now, but without any major catalyst to see a fresh uptick Unlike the traditional financial markets, a sharp drop off in volume on cryptocurrency exchanges can mean that investors have suddenly turned to “hodling” instead of trading and while this may mean bad news for exchanges which make fees from trading…

Veteran Trader Peter Brandt Shares ‘Sacred Trading Rule’ as Bitcoin Falls, Warns Against Buying the Dip – Bitcoin News

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Veteran trader Peter Brandt has shared “a sacred trading rule” he uses in response to a comment about buying bitcoin as the price of the cryptocurrency continues to fall. “Never add to a losing trade,” he affirmed. Peter Brandt Offers Trading Advice Veteran trader Peter Brandt has a trading suggestion for anyone considering buying the dip. Brandt has been a futures and FX career trader since 1975. He is a chartist and the author of the Factor Report. He trades a variety of markets, including Dow futures, bonds, corn, crude…