Day: July 12, 2022

Bitcoin Slumps Below $20K as Long-Term Holders Face Massive Selling Pressure

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●Bitcoin (BTC): $19,453 −5.5% ●Ether (ETH): $1,042 −9.1% ●S&P 500 daily close: 3,818.80 −0.9% ●Gold: $1,724 per troy ounce −0.3% ●Ten-year Treasury yield daily close: 2.96% −0.03 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Original

French central bank head announces beginning of wholesale digital euro project phase 2

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The first phase of experiments with a wholesale digital euro has been completed, and phase two experiments will begin this year, Banque de France governor François Villeroy de Galhau said Tuesday. Four or five new experiments are expected to be launched.  Speaking at the Paris Europlace International Finance Forum, the French central banker summed up the European Union’s achievements in crypto-asset regulation under the French presidency, mentioning Transfer Fund Regulation (Travel Rule) and Markets in Crypto-Assets (MiCA), specifically. The Eurosystem is looking at the scope and design of a digital…

BITCOIN HITTING MAJOR SUPPORT!!! Will It Break Or Hold? – Bitcoin Analysis

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Experts Claim Cyber Attacks On Crypto Firms Will Rise, What’s Ahead?

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Regarding cryptocurrency cybercrimes and attacks, North Korea is a notable region with increased activities. Many groups are posing high threats through their attack on some crypto protocols. Also, a report in June disclosed that North Korea has 7 million active hackers. Many stolen funds running into millions of dollars have been traced back to the North Korean attacks. Also, most stolen funds are allegedly used for sponsoring different war weapons, suicide bombings, and other crimes. North Korea is notably struggling with some economic sanctions that have drastically limited most economic…

Jobs Growth Is the Savior of Inflation-Wracked US Economy

However, the organization responsible for declaring and dating recessions, the National Bureau of Economic Research (NBER), sees things a little differently. According to the NBER, a recession involves “a significant decline in economic activity that is spread across the economy” and lasts over a few months. Source

Sri Lanka central bank reiterates crypto warning following protestors seizing president’s residence

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Amid economic and political turmoil, the Central Bank of Sri Lanka, or CBSL, has warned the public against crypto purchases due to the lack of regulatory oversight. In a Tuesday notice, the CBSL said it has not authorized or licensed any company in Sri Lanka to offer crypto-related services, including exchanges, initial coin offerings and mining. The central bank said the warning was in response to “recent developments in relation to virtual currency usage,” likely referring to the market downturn and significant volatility in the prices of cryptocurrencies like Bitcoin…

Blockchain-based games see an uptick in users despite bear market conditions

Bear markets are always tough, but one of the positives is they clear the clutter and this allows legitimate projects to stand out.  While most investors are focused on the latest CeFi and DeFi scandal, the blockchain gaming sector has quietly weathered the storm better than other niches of the market. Total number of unique active wallets interacting with smart contracts. Source: DappRadar As shown on the chart above, all sectors of the market have experienced a noticeable decline in active users, but the gaming sector has proven to be…

Animoca Brands raises $75M to advance ‘open metaverse’ concept

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Blockchain gaming and venture studio Animoca Brands has closed another strategic funding round, giving the company additional resources to expand its acquisition targets in the metaverse sector.  The company announced Tuesday that it has closed a $75.32 million funding round at a pre-money valuation of $5.9 billion backed by Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 19T, SG Spring Limited Partnership Fund and others. The raise represents the “second tranche” of funding following a $358.8 million raise in January that was supported by venture giants Sequoia China, Winklevoss Capital,…

Watch Out for Illicit Actors Gaming Crypto Games

Even before the advent of P2E crypto, anti-money laundering experts have flagged the illicit finance risks around online gaming. In 2019, researchers at the Royal United Services Institute, a U.K. think tank focused on international security issues, pointed out that if users can find ways to exchange in-game items (like virtual money, artifacts, tools or clothing) for real-world currency, those items will become attractive for criminals looking to launder illicit funds. But selling game virtual-assets for fiat money used to be difficult. In traditional online games, users had to access…