Month: August 2022

Bitcoin addresses in loss hit 1-month high as BTC price retests $21K

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Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses. Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month. Over 17.5 million wallets in the red BTC/USD has seen five trips below $21,000 since the end of Aug. 19, data from Cointelegraph Markets Pro and TradingView shows, and the quest for support is already making plenty of traders nervous. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Meanwhile,…

Latest Ghana Benchmark Rate Hike the Largest on Record — President Promises Action Against ‘Unacceptable Depreciation of the Cedi’ – Bitcoin News

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After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of his government. Largest Benchmark Rate Hike Since 2002 In an attempt to tame the country’s runaway inflation rate, which topped 31.7% in July, the Ghanaian central bank hiked the benchmark interest rate by 300 basis…

Iran Import Association demands regulatory clarity to use crypto in foreign trade

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In the aftermath of the first officially reported crypto payment in the sanctioned country’s foreign trade, Iran’s importers point to the necessity of stable regulations to continue trade via cryptocurrencies.  On Saturday local reports cited the head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and infrastructure should be prepared to be able to successfully use cryptocurrencies for imports: “The question is, has the government developed consistent regulations for the cryptocurrency uses so that they will not change within two months…

Iran Impart Association demands regulatory clarity to use crypto in foreign trade

In the aftermath of the first officially reported crypto payment in the sanctioned country’s foreign trade, Iran’s importers point to the necessity of stable regulations to continue trade via cryptocurrencies.  On Aug. 20, local reports cited the head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and infrastructure should be prepared to be able to successfully use cryptocurrencies for imports: “The question is, has the government developed consistent regulations for the cryptocurrency uses so that they will not change within two…

Bitcoin mining to cost less than 0.5% of global energy if BTC hits $2M: Arcane

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Bitcoin (BTC), the world’s most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars, according to new estimates by Arcane Research. Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoin’s energy usage toward 2040. Authored by Arcane Research analyst Jaran Mellerud, the report points out that Bitcoin’s future energy consumption differs massively depending on the future Bitcoin price alongside factors like transaction fees, electricity prices and others. If the BTC…

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AMM protocol SudoRare disappears from the internet with 519 ETH

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SudoRare, an automated market maker (AMM) protocol for ERC-721 to ERC-20 swaps, suddenly shut down its services and social media accounts after reportedly making away with 519 Ether (ETH), worth roughly $815,000.  A crypto community member, sungjae_han, was first to point out a suspicious transaction that drained substantial funds off SudoRare using LooksRare (LOOKS) and USD Coin (USDC) tokens. #PeckShieldAlert #rugpull Seems like @SudoRare rugged 519 $ETH (~$815k). SudoRare already deleted its social accounts/groups, sudorare[.]xyz is downStole funds already transferred to 3 new addresses (173 $ETH/address):0x75c3b2…39810x0498d1…80740xbFb784…7EAa https://t.co/mPC4bl4k6W pic.twitter.com/O5D7jThYvm — PeckShieldAlert…

How Did Deepfake Tech Drain a Brazilian Crypto Exchange Out of Liquidity?

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A sophisticated scam using deepfake tech managed to drain liquidity from a Brazilian crypto exchange. In June 2022, the FBI issued a warning that fraudulent investment scams on LinkedIn are rising. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. As LinkedIn is widely used for business networking, many find investment offers on the social media platform to be legitimate. Sean Ragan, the FBI’s special agent in charge of the San Francisco and…