Day: July 4, 2023

Bitcoin analyst flags $32.5K launchpad zone for BTC price

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Bitcoin (BTC) bulls fought for $31,000 on July 4 as a United States market closure offered the chance for volatility. BTC/USD 1-hour chart. Source: TradingView Bitcoin price “getting ready to rip higher” Data from Cointelegraph Markets Pro and TradingView showed BTC price action attempting to cement overnight gains. These topped out near $31,400 before momentum waned, leaving BTC/USD still within a narrow trading range. Despite no new yearly highs yet, market participants were bullish on lower timeframes based on recent behavior. Trading suite Decentrader even argued that Bitcoin was “looking…

China to tighten control on exports of AI chip-making materials

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The Chinese government has announced plans for export controls on metals predominantly used to manufacture semiconductors used in the development of artificial intelligence (AI) systems. On July 3, the Chinese Ministry of Commerce issued a joint statement with the General Administration of Customs which said the controls are aimed at protecting the interests of national security and that it will require a government-issued license to export specific gallium and germanium products.  The controls begin on August 1 and include eight gallium-related products: gallium antimonide, gallium arsenide, gallium metal, gallium nitride,…

GCR gains 40%, making its way to top 100 with scam numbers

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Global Currency Reserve (GCR) just made its way to the top 100 cryptocurrencies with its significant surge over the past two months. However, data shows that a few accounts hold GCR. According to data provided by CoinMarketCap (CMC), the GCR price has grown by 1,075,939% since mid-May. The asset was developed in 2015, per the data, with a small surge in 2018, and has been wandering in the red zone for around four years. GCR’s price…

Creditors for bankrupt Voyager Digital billed $5.1M in legal fees

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New York-based law firm McDermott Will & Emery filed for compensation of $5.1 million from the creditors of bankrupt crypto brokerage firm Voyager Digital. The bill is for legal services offered between March 1 and May 13, 2023. In a July 3 court filing, the law firm billed the legal fees to the “Official Committee of Unsecured Creditors.” The court documents revealed that the law firm charged an hourly rate of $1,026.76 for its services during the period. Summary of the final bill for Voyager Digital. Source: cases.stretto.com The firm listed…

U.S. crypto regulatory uncertainty could be Hong Kong’s gain

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Industry experts believe Hong Kong’s shifting attitude towards blockchain technology, cryptocurrencies and Web3 could entice businesses away from the United States. The city has made a series of moves over the past year to foster the development of the Web3 space and enable retail investment into cryptocurrencies. The latest example of this is the formation of its Task Force on Promoting Web3 Development. Yat Siu, co-founder of Web3 investment firm Animoca Brands, is one of 15 industry experts invited to be an advisor to the task force, which will interface…

185 Blockchain Hacking Incidents with $920M Loss Reported by SlowMist in First Half of 2023

SlowMist, a renowned blockchain security firm, has recently published its mid-2023 report on Blockchain Security and Anti-Money Laundering (AML). The report offers a comprehensive overview of the current global landscape of blockchain security and AML developments. The first half of 2023 witnessed significant growth and increased security challenges in the blockchain sector. According to SlowMist’s Blockchain Hacked Incident Archive, there were 185 security breaches leading to a massive loss of $920 million. However, this figure represents a 54% decrease compared to the first half of 2022, which saw losses of…

Miners hop on exchanges as bitcoin price hikes

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) has been on a green run over the past two weeks while steadily standing above the $30,000 mark. With the recent surge, bitcoin miners have deposited their holdings into the exchanges. According to data from CryptoQuant, BTC miners sent more than $1.675 billion worth of digital gold, 54,000 coins, to crypto exchanges. This is the first massive miners’ outflow since April, when bitcoin was trading between $28,000 and $30,000. Moreover, the current situation might…

Chinese city of Jinan accepts CBDC payments for bus rides

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Jinan, the capital of eastern China’s Shandong Province, has begun encouraging the adoption of the country’s central bank digital currency (CBDC) program by introducing the acceptance of digital yuan payments across all its bus routes.  In its pilot phase, the city tested the introduction of CBDC payments on two bus lines namely B52 and BRT5. Following this trial period, the city has announced that it has now implemented the new payment method to its entire bus network. Local media outlet Shunwang-Jinan Daily recently reported that the city of Jinan has…

5 meme coins that can break into the top-50 in 3 years

In recent years, meme coins have emerged as influential factors within the cryptocurrency market, attracting investors due to the possibility of significant returns. Originating from internet humor and viral culture, these digital currencies can potentially bring about transformative changes in the crypto industry. Several meme coins exhibit promising attributes that extend beyond their humorous origins, offering real-world applications and benefits. In this context, we will examine the upward trajectory of meme coins that hold the potential to ascend to the ranks of the top 50 cryptocurrencies within the next three…

PEPE Knockoffs Turn Dollars to Fortunes in Strange New ‘2.0’ Play

Tokens like pepe 2.0, floki 2.0, and bobo 2.0 – which were mostly issued in the past week and are passing themselves off as new versions of the popular pepe, floki and bobo tokens – have seen trading volumes jump to millions of dollars, attracted hundreds of thousands of dollars in liquidity and turned a few dollars to six-figure fortunes almost overnight. Source