Day: October 17, 2022

What new EU sanctions mean for crypto exchanges and their Russian client

boss

Nine months into the conflict between Ukraine and Russia, sanctions against the latter have continued to grow at an aggressive pace. This time around, legislators for the European Union announced that they are introducing a complete ban on all cross-border crypto payments between Russia and its citizens.  To elaborate, a prohibition of all “crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet” has now been initiated by the EU in response to Russia’s continued annexation of Ukrainian land, repeated mobilization of troops within the country and…

Fan token firm Chiliz grows staff by 70% despite crypto winter

boss

Blockchain company Chiliz, creators of fan token platform Socios.com, has continued to expand its workforce despite the ongoing bear market, reflecting a growing trend in the fan token sector. The overall cryptocurrency market has seen a massive selloff in 2022, with the total market capitalization plummeting 60% since the beginning of the year. Some major crypto companies, including Coinbase and Gemini, had to cut their workforce by 10%–20% to maintain operations and continue serving their clients. While a wide number of crypto businesses have faced challenges amid the cryptocurrency winter,…

Latest Findings Show A Reduction In Sell Off, Is A Bitcoin Rally Ahead?

boss

Bitcoin and the broader crypto market surprisingly performed over the past week. At the beginning of the week, the market saw more movements to the south in most crypto asset prices. A few hours following the release of the US CPI data for September saw the entrance of the bears into the market. However, almost all the tokens had a reversal in the direction of the trend. The bull suddenly appeared and forced massive volatility pushing the assets to the north. The performance of the primary crypto asset, Bitcoin, was…

Ethereum In Tight Range – Will Pressure Push ETH Below $1,250?

Ethereum, the undisputed ruler of the altcoin market, is now stuck in a bear market as the token struggles to break the $1,300 resistance level. However, the current market price is $1,302.87, only 0.22 percent more than the key psychological buy point. Despite how good this sounds, the way the market is moving right now, the bear market is likely to continue this month, which is not good news for ETH. The possibilities of a bear market recovery for ETH are slim due to the terrible state of the macroeconomy, according…

Fed Pivot May Not Bring Immediate Relief to Bitcoin

boss

“Few are asking, ‘what happens if pivot?’ – perhaps a better question is: when sustainable bottom? In other words, this is not March 2020; a recessionary bear market takes longer to bottom; among other things, the economy needs to actually bottom for the market to bottom,” Callum Thomas, head of research and founder at Topdown Charts, wrote in the latest edition of Weekly S&P500 ChartStorm, commenting on data shared by Gerli. Original

Interest in Russian Crypto Channels on Telegram Declining, Analysis Shows – Bitcoin News

boss

Russians have been losing interest in Telegram channels devoted to cryptocurrencies and tokens, according to a new research covering the period since the start of the war in Ukraine. Industry experts behind the study say that bitcoin’s lower valuation and financial restrictions increasingly limiting access to the crypto market are the key reasons. Telegram Crypto Channels’ Audience Expected to Shrink Further Amid New EU Sanctions on Russia Interest in crypto-related channels on the popular messenger Telegram has diminished in the past few months. Between late February and the end of…

BNB Chain responds with next steps for cross-chain security after network exploit

boss

BNB Chain, the native blockchain of Binance Coin (BNB) and the Binance crypto exchange, has been subject to security-related developments over the last month. On Thursday, Oct. 6 the network experienced a multi-million dollar cross-chain exploit. The incident caused BNB Chain to temporarily suspend all withdrawal and deposit activity on the network. Initially, the announcement of the network outage cited “irregular activity” with an update stating it was “under maintenance.” As rumors were confirmed the CEO of Binance, Changpeng Zhao tweeted out an apology for any inconvenience to the BNB…