Month: January 2022

Crypto.com’s Stolen Ether Being Laundered Via Tornado Cash

The $15 million in ether (4,600 ETH) stolen from Singapore-based Crypto.com is currently being laundered via Tornado Cash, an Ethereum Mixer, according to on-chain data. Tornado Cash is a ETH mixer protocol that promises to improve transaction privacy by obscuring the on-chain link between the source and recipient of ether. The protocol launched in early 2020. On-chain data first spotted by security consultancy Peck Shield suggests that the 4,600 ether is being sent through the mixer in batches of 100 ether. While some say that mixer protocols, or cryptocurrency tumblers,…

Binance Destroys 1.6M BNB Tokens in First-Ever Auto Burn

Cryptocurrency exchange Binance implemented its first-ever binance token (BNB) auto-burn program last quarter, removing over 1.6 million BNB tokens worth $750 million from circulation. Under the new program, the number of tokens to be burned is arrived at using a formula based on the total number of blocks produced on the Binance Smart Chain, a programmable blockchain powering smart contracts and running parallel to Binance Chain, and BNB’s average dollar-denominated price during the quarter. The move away from the previous token burn methodology, which was based on revenue generated from…

European VC Blossom Capital Raises $432M For Investments in Tech, Crypto: Report

London-based venture capital (VC) firm Blossom Capital has raised $432 million to invest in early stage technology startups in Europe, including crypto, according to a Bloomberg report published on Tuesday. The VC has earmarked one-third of the funding for crypto investment, according to the report. “We aren’t looking to just invest in crypto assets, we are also eyeing equity stakes in early-stage companies developing crypto infrastructure,” founder Ophelia Brown said. One of Blossom Capital’s most notable investments in the crypto sphere is payments infrastructure company Moonpay. In November, Moonpay raised…

Thailand Government Disperses Confusion Surrounding Cryptocurrency Taxation

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Before now, some countries have mapped out some crypto taxes for transactions on cryptocurrency assets within their jurisdiction. Thailand is one of the countries that proposes some taxation plans. As the new year begins, the revenue department of Thailand is setting up its measures for implementing its tax plans on crypto traders this January. The move is to provide more clarifying information on the tax over crypto-related activities. According to the director-general of the revenue department, this month will mark the finalizing of the criteria for tax calculations which will…

Cryptocurrency Market Cap Increased by 13% in Q4 2021

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Despite facing one of the biggest corrections in its history, the cryptocurrency market cap grew by almost 13% in the fourth quarter of 2021. For the whole year, the market capitalization of digital currencies jumped by approximately 185%. Overall, the market cap of crypto assets is nearly equal to the GDP of India. According to a recent crypto market overview report published by digital exchange EXMO, trading volumes across the market climbed by 13% during Q4 2021. Cryptocurrency volatility also increased slightly during the latest three months. In comparison with…

ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion – Technology Bitcoin News

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The number of ether locked in the Ethereum 2.0 contract has exceeded 9 million ethereum or more than $28 billion using today’s exchange rates. The amount of ethereum locked into the contract has increased 22.29% since the first week of September 2021, when the contract held 7.4 million ether. Ethereum 2.0 Contract Exceeds 9 Million Ether While the proof-of-work (PoW) side of the Ethereum network has seen its hashrate tap all-time highs above 1 petahash per second (PH/s) this year, the transition to Ethereum 2.0 continues with ether being locked…

Metaverse Avenue, The Solana Based Marketing Platform Set To Transform A Billion Dollar Industry

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Digital assets have experienced a boom in the past years with new trends, such as DeFi, NFTs, and digital property, supporting a new wave of adoption led by institutional demand. These players have embraced the technology upon which they are planning to build the internet of the future, the Metaverse. In the coming years, as younger generations inherited wealth and power, every financial and business sector will need to have a presence in the Metaverse. Thus, understating the benefits and opportunities earlier could reward projects and investors that develop a…

IreneDAO NFTs causing a stir on crypto Twitter

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The story of the IreneDAO NFT craze started in October when 28-year-old Chinese crypto influencer and model Yuqing Irene Zhao came up with the idea for “So-Col” with her business partner, Benjamin Tang. So-Col is short for “Social Collectables,” Irene explained to Cointelegraph, and the platform aims to help content creators monetize their content and build communities with their fans. Branded as the “decentralized version of OnlyFans, Discord, Twitch, and Patreon,” the platform allows content creators and influencers to convert their social media content into non-fungible collectible items (NFTs.) It…

Korean Bithumb exchange to launch NFT marketplace

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South Korean crypto exchange Bithumb is developing an NFT marketplace with “a large company” thought to be LG CNS, a subsidiary of LG Corporation.  Bithumb CEO Heo Baek-young confirmed in a Jan. 13 interview that the exchange was currently developing a nonfungible token (NFT) exchange which would help it stay competitive with Korbit and Upbit, two other domestic Korean exchanges. Heo said: “An NFT marketplace will be important in promoting blockchain-based content, which will become a driving force in the future.” There is no confirmation yet on the identity of…

Lucrosus Capital Launched $LUCA – Decentralized Venture Capital (DeVC) – Press release Bitcoin News

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press release PRESS RELEASE. The cryptocurrency market in the last months has witnessed the enormous success of promising valuable blockchain projects. Nevertheless, even investors from traditional markets are starting to detect the real potential of cryptocurrencies. They pour vast amounts of funds into the blockchain market. Therefore, the biggest success boom of promising projects is yet to come in 2022 and it is a good time to invest at current lower prices. This is a desirable situation for Venture Capital funds because demand for their services is rapidly increasing. However,…