Day: December 28, 2022

Alameda wallets become active days after SBF bail, community mulls foul play

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The crypto wallets associated with now-bankrupt trading firm Alameda Research, the sister company of FTX, were seen transferring out funds just days after the former CEO Sam Bankman Fried was released on a $250 million bond. The transfer of funds from Alameda wallets raised community curiosity, but more than that, the way in which these funds were transferred grabbed the community’s attention. The Alameda wallet was found to be swapping bits of ERC20s for ETH/USDT, and then the Ether (ETH) and USDT (USDT) were funneled through instant exchangers and mixers.…

Venezuelan Banks Have Blocked Over 75 Accounts Since the End of Last Year Due to Cryptocurrency-Related Activities – Economics Bitcoin News

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Venezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and blockchain-focused legal firm in Venezuela, more than 75 accounts have been blocked by Venezuelan private banks for facilitating crypto-to-fiat and fiat-to-crypto conversions since the end of 2021. Venezuelan Banks Suspend Crypto-Related Accounts Venezuelan banks are ramping up vigilance on accounts that commonly are related to cryptocurrency transactions. According to a blog post published by Legalrocks, a Venezuelan law firm focused on cryptocurrency and…

NEAR Struggles As Bulls Aim To Flip $1.45 Resistance Into Support

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NEAR, the native crypto of Near Protocol, seems to continue mirroring the trajectory of Bitcoin, one of the main driving forces of the cryptocurrency industry. The largest crypto asset boasting a total market capitalization of $320.76 billion has so far failed to establish a strong upward momentum that will enable it to exit 2022 with a higher value. In fact, BTC, which is trading at $16,658, is in danger of ending the year with a meager gain of less than 2%. At the time of writing, the maiden crypto has…

China’s CBDC wallet resorts to ages-old tradition to boost adoption

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China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money in an electronic version of traditional “red packets” to try to attract new users. The new feature was released over the weekend, around one month ahead of the Chinese New Year on Jan. 22, as reported by the South China Morning Post on Dec. 26. The “red packets,” called hongbao in China, are traditionally used for gifting money around the Chinese New Year and other celebrations as a gesture of…

Why SOL Could Dive Another 50%

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Solana is accelerating lower below $12 and $10 levels against the US Dollar. SOL price remains at a risk of a move towards the $7.50 and $7.00 levels. Sol price is struggling and trading well below the $12 level against the US Dollar. The price is now trading below $10 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $10.55 on the 4-hours chart of the SOL/USD pair (data source from Kraken). The pair could face a strong selling interest near…

Ethereum Price Could Resume Decline If This Support Paves Way

Ethereum started a fresh decline from the $1,230 resistance against the US Dollar. ETH could accelerate lower if there is a clear move below the $1,180 support. Ethereum is showing bearish signs and trading well below the $1,230 resistance zone. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,205 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if there is a clear move below…

Executives from $1.5B South Korean crypto exchange fraud jailed

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Six executives involved in the $1.5 billion (2 trillion won) South Korean crypto exchange fraud V Global have received prison sentences of up to eight years — but three were not detained so they could fight certain charges in court. V Global operated between July 2020 and April 2021, roping in around 50,000 investors by promising 300% returns alongside sizable payments for referring new customers. According to a translation of Dec. 26 reports from South Korean media outlets such as Economist.co.kr, two high-ranking execs, named Mr.Yang and Mr. Oh, got…