Day: February 12, 2022

Netflix announces new series on Bitfinex hack involving 120,000 Bitcoin

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Streaming and production giant Netflix will soon produce a documentary series on the infamous Bitfinex hack — one of the biggest financial crimes from 2016 stealing 119,756 Bitcoin (BTC) — worth $72 million at the time.  The Netflix documentary will be centered around a New York-based couple and their link to laundering nearly 120,000 BTC tied to the crime. According to Netflix, the documentary will be directed by American filmmaker Chris Smith with Nick Bilton as the co-executive producer. The announcement read: “Netflix has ordered a documentary series about a…

U.S. Cryptocurrency Miners Cheer Reporting Rule Clarity

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  U.S. Treasury Department clarifies that certain cryptocurrency industry participants would not be expected to report user data, including miners and stakers  Move by U.S. Treasury Department to clarify reporting requirements should be seen as a victory for cryptocurrency industry participants who had long lobbied against the onerous disclosure burdens     While many adjectives can be used to describe cryptocurrency miners, being a “broker” is probably not one of them. Cryptocurrency miners using specialized computer processing equipment on an industrial scale to secure blockchains for everything from Bitcoin to Ethereum,…

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Bandai Namco to Invest $130 Million in Building Its Own IP Metaverse – Metaverse Bitcoin News

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Bandai Namco, a game development and publishing company, has announced its intention of creating its own metaverse to increase the engagement fans have with the brand. The strategy was announced during the reveal of its new mid-term plan, which outlines the roadmap of the company for the next three years. The company expects to spend 15 billion yen ($130 million) on this project. Bandai Namco Seeks to Boost Engagement With Metaverse Project Bandai Namco, one of the leading Japanese game development and publishing companies, is creating its own…

Hungary’s central bank chief wants EU-wide crypto trading and mining ban

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György Matolcsy, Governor of the Hungarian National Bank, has proposed a blanket ban on all cryptocurrency trading and mining operations across the European Union.  Governor Matolcsy cited the recent crypto ban imposed by China in a blog post shared by the Hungarian central bank a.k.a. Magyar Nemzeti Bank (MNB) titled “Time has come to ban crypto trading and mining in the EU.” He also pointed out the Russian central bank’s proposal that calls for a blanket ban on domestic cryptocurrency trading and mining. Reciprocating the proposals for a crypto ban,…

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Bitcoin Exchange Supply Drops to the Lowest Level in 37 Months

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Bitcoin exchange supply is shrinking. Amid global adoption and holding trends, BTC owners have moved their digital assets from trading platforms to crypto wallets substantially in the last three years. Santiment’s recent data highlights a sharp surge in Bitcoin outflows from leading digital exchanges. According to the numbers, BTC trading platforms now hold just 10.8% of the circulating supply of the crypto asset, compared to more than 14% in February 2021. With that, the    exchange  Exchange An exchange is known as a marketplace that supports the trading of derivatives,…

Bitcoin dips below $42K as crypto sentiment returns to ‘fear’

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Bitcoin (BTC) trended toward a $40,000 retest on Feb. 12 as BTC price action bore out analysts’ predictions. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader hopes to avoid ‘ugly’ weekly close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching local lows of $41,741 on Bitstamp Saturday before a rebound over $42,000. An about-turn had ended the pair’s advance after U.S. CPI data hit, and calls soon emerged for a return to $40,000 or even lower to see how steely bulls’ resolve really was. For Cointelegraph contributor Michaël van…

What is Avalanche Network (AVAX) and how does it work?

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What is Avalanche Network (AVAX)? Launched in 2020 by Ava Labs, Avalanche is a blockchain platform that is smart contract-capable. Avalanche aims to deliver a scalable blockchain solution while maintaining decentralization and security, focusing on lower costs, fast transaction speeds, and eco-friendliness. Avalanche quickly became popular in the cryptocurrency space, with Avalanche TVL currently worth $8.41 billion and still rising across Avalanche decentralized applications (DApps). Avalanche is powered by its native token Avalanche (AVAX) and multiple consensus mechanisms. With Avalanche, users can create an unlimited number of customized and interoperable…

Bank of Zambia Expects to Complete CBDC Study in Q4 – Emerging Markets Bitcoin News

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The Bank of Zambia has said it expects to complete its study seeking to determine the feasibility of launching a Central Bank Digital Currency (CBDC), before the end of the last quarter of 2022. Narrowing the Financial Exclusion Gap The Zambian central bank has said it expects to complete a research study that explores the benefits of launching a central bank digital currency (CBDC) in Q4 of 2022. The bank, which has been weighing the pros and cons of creating a digital currency, says the findings of this study will…