Day: May 3, 2022

Crypto.com (CRO) slumps 30% as staking rewards are slashed

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Crypto exchange Crypto.com announced severe reductions to CRO staking rewards for most tiers of its VISA prepaid card which has forced the token price to fall around 30% in less than a week. Its May 1 blog post explains that card rewards will be reduced by an average of 69.5%, and 100% on its lowest tier Midnight Blue card “to ensure long-term sustainability.” On its highest tier Obsidian card which requires at least $400,000 in CRO to be staked, rewards will drop from 8% to 5%. Changes to the rewards…

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Crypto Industry Lobbies Against Bills Targeting Russian Oligarchs Evading Sanctions Using Cryptocurrency – Regulation Bitcoin News

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The crypto industry is lobbying U.S. lawmakers against two bills aimed at preventing Russian oligarchs from using cryptocurrency to avoid sanctions. The U.S. and many other countries placed sanctions on them after Russia began its invasion of Ukraine. Bills Preventing Wealthy Russians From Using Crypto to Avoid Sanctions The Blockchain Association has been lobbying U.S. lawmakers against two bills designed to prevent Russian oligarchs from using cryptocurrency to evade sanctions imposed on them after Russia began its invasion of Ukraine, CNBC reported last week. The first is a House bill…

Billionaire Citadel Securities founder compares crypto value to abstract art

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Billionaire Citadel Securities founder Ken Griffin has compared cryptocurrency to abstract art, opining that the value of both is derived from the eye of the beholder. Griffin — who Forbes estimates to be worth around $26 billion — has made numerous anti-crypto comments and urged others away from it in the past, but appears to have gradually softened his stance over time. He also said that Citadel will make a play once it can do so in a compliant manner. Speaking on the value of crypto at the Milken Institute…

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More than $1.6 billion exploited from DeFi so far in 2022

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The decentralized finance (DeFi) space has been rife with hacks, exploits, and scams so far this year with over $1.6 billion in crypto stolen from users, surpassing the total amount stolen in 2020 and 2021 combined. Analysis from blockchain security firm CertiK revealed the statistics on May 2 showing the month of March having the most value stolen at $719.2 million, over $200 million more than what was stolen in all of 2020. The March figure is largely due to the Ronin Bridge exploit where attackers made off with over…

Rhode Island proposes crypto rewards for green home builders

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A bill was proposed in Rhode Island’s House of Representatives that would credit a house builder in a “green coin” cryptocurrency for reducing the project’s carbon footprint. The Green Housing Public-Private Partnership Act would oblige the state’s public utility commission to issue annual reports on the utility costs and carbon emissions of a housing project. If the project has been able to reduce its utility costs, the state will award a cryptocurrency credit to the property owner. “Any reduction 24 amount of utility costs attributable to any housing construction project…

Bitcoin Continues To Slide But Displays Bullish Divergences On Charts

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Bitcoin over the weekend was seen trading below its critical price support as broader market weakness continues. Traders’ confidence in the asset has remained quite low considering the selling pressure in the market. The prices have currently plummeted owing to the news of the Federal Reserve hiking its interest rates. Bitcoin has also displayed profit booking on charts. This could be the reason why prices are falling further. If the asset fails to remain above the $38,000 price level, a short-term downslide could occur. Bitcoin is currently trading in bearish…

BREAKING NEWS! INDIA JUST FLIPPED ON SHIBA INU AND THE ENTIRE CRYPTOCURRENCY MARKET! #BULLISH #SHIB

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