Day: August 12, 2022

Axie Infinity cuts rewards from classic game, subtly forcing P2E players to new mode

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Play-to-earn (P2E) blockchain game Axie Infinity (AXS) has completely removed the token rewards from its classic game mode to attract its users to a new game mode called Axie Infinity Origin.  The Axie Infinity team announced that starting on Friday, there will be no more Smooth Love Potions (SLP) to be minted on its classic mode. According to the team, the SLP rewards will be migrated to their new game mode. However, minting will be unavailable for 30 days as the team conducts a monitoring phase to search for bugs,…

S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures

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Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year. The agency confirmed the downgrade in a note on Thursday, pointing toward Coinbase’s weaker performance in the second quarter of 2022 as a driving factor. Intensified competitive risk in the cryptocurrency exchange sector was also highlighted, with Coinbase losing market share to competitors this year. “The negative outlook reflects uncertainties about the duration of the crypto market downturn and the company’s…

SOL Makes Another Shot At $44, After Two Failed Attempts This Week

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Solana (SOL) bulls are determined to push the price of the coin higher and breach the $44 level. Solana price has shown strong bullish movement; support found at $40. Coin has peaked by more than 70% in comparison to its lowest level in 2021. The daily chart’s ascending triangle pattern hits massive gains in the coming days. Solana is trying to make that great comeback again after it has tried and failed twice to breach the $44 level.   SOL Currently Stuck At $43 According to CoinMarketCap, Solana has dropped by…

Popularity of Crypto Investments Makes Case for Regulations, Australian Securities Watchdog Says – Regulation Bitcoin News

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High rates of crypto ownership, with purchases often made on advice from Youtube and Facebook, make “a strong case for regulation,” according to the Australian Securities and Investments Commission. The watchdog backs its stance with poll results showing nearly half of retail investors in Australia keep one coin or another. Australian Securities Regulator Pushes for Rules to Protect Cryptocurrency Investors Pressure on Australia’s new Labor government is mounting, to put an emphasis on consumer protection as it takes over a task from the preceding conservative government to adopt a regulatory…

An update of Stock and Crypto markets, August 2022

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Dutch authorities arrest suspected Tornado Cash developer

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Authorities in the Netherlands have arrested a developer that is suspected to be involved in money laundering through the crypto mixing service Tornado Cash. The Fiscal Information and Investigation Service (FIOD), an agency in the Netherlands responsible for investigating financial crimes, officially announced on Friday an arrest of a 29-year-old man in Amsterdam. The man has allegedly been involved in facilitating criminal financial flows and money laundering through the decentralized Ethereum mixer Tornado Cash, the authority said. The FIOD pointed out that it doesn’t rule out multiple arrests in the…

New Crypto Exchange Platform Bitflex Launches Futures Trading Competition with $15,000 Prize Pool – Press release Bitcoin News

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press release PRESS RELEASE. Seychelles, August 2022 – Bitflex Ltd., a secure crypto trading exchange currently specializing in crypto derivatives, has announced the launch of a new trading competition with a prize pool of $15,000. From August 5 to September 9, new and existing users on the Bitflex platform can participate in the event for a chance to win rewards. Trade More, Win More With up to 15,000 USDT worth of prizes, the Trading Competition is an important part of Bitflex’s vision to reward its early users and get new…

Indian Authorities Freeze Nearly $46M Assets of Troubled Crypto Lender Vauld: Report

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Number of People Working in Blockchain Industry Went up by 76%, Large Gap in Demand for Technical Talent Exists – Blockchain Bitcoin News

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The number of people working in the blockchain industry went up by 76% year-on-year as of June 2022, a study undertaken by the professional networking platform Linkedin and the crypto trading app OKX has found. The study also found there is “a large gap in demand for technical talent in the global blockchain talent pool.” China Top Ten Country With Lowest Growth Rate According to the findings of a study undertaken by the professional networking platform Linkedin, and crypto trading app OKX, “the total number of people working in the…