Month: August 2023

Libertarian Bitcoin Advocate Javier Milei’s Surprise Election Victory Amidst Digital Asset Volatility and Global Economic Shifts

When we hear that “Bitcoin is too risky,” as citizens of the U.S. and as holders of dollars we must remember that this simple statement comes from a position of substantial privilege, specifically “exorbitant privilege.” First termed by French Finance Minister Valéry Giscard d’Estaing in the 1960s, exorbitant privilege refers to the unique benefits that the U.S. enjoys due to the widespread use of the dollar in international trade, finance and as a global reserve currency. Some of the benefits from the global ubiquity and near-insatiable demand for dollars are…

FBI identifies six Bitcoin addresses controlled by North Korean hackers

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Federal Bureau of Investigation (FBI) has identified six Bitcoin (BTC) wallets with over 1,500 BTC that’s reportedly connected to the Lazarus Group, a hacking group allegedly sponsored by the Democratic People’s Republic of North Korea (DPRK).  Lazarus Group, the agency said, moved about 1,580 BTC, worth nearly $41 million, from several crypto heists to six Bitcoin wallet addresses. They also added that the group may look to liquidate and asked crypto exchanges to be…

China launches blockchain-powered data exchange

During the 2023 Hangzhou Summit held in Hangzhou, China, a new data exchange powered by blockchain technology was unveiled by government officials. Over 300 enterprises, including Alibaba Cloud and Huawei, participated in the exchange’s debut. According to local news reports on Aug. 23, the new Hangzhou Data Exchange will facilitate the trading of enterprise information technology data using distributed ledger technology. Officials say the platform would ensure exchange trades are immutable and traceable. Chen Chun, director of the National Laboratory of Blockchain and Data Security, commented:  “[The Hangzhou Data Exchange]…

Multichain victims search for answers in $1.5B exploit as new evidence emerges

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On July 14, developers of the $1.5-billion Chinese cross-chain protocol Multichain confirmed users’ worst fears. The protocol’s CEO, identified only as “Zhaojun He,” was arrested by Chinese authorities in Kunming on May 21 after months of repeated denials on official communication channels. Also allegedly arrested was Multichain’s core team, which was operating in Shanghai.  It was never disclosed why Zhaojun had been arrested or what the charges were. However, evidence suggests that Multichain funds may have been seized as part of an anti-money laundering operation in the context of a…

Kenya’s 17-Member Committee Officially Kicks Off Investigation Into Worldcoin

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The Kenyan government has set up a 17-member committee to investigate the operations of American-based cryptocurrency firm Worldcoin, due to its collection of biometric data not satisfying Kenya’s data privacy laws of the country. The process requires a user to give his iris scans in exchange for a digital ID known as global ID and get free Worldcoin tokens as part of plans to create a new identity and financial network, and the Kenyan government saw this as a security risk. Joint Ad-hoc Committee Investigation In Kenya Kenya’s National Assembly…

Thailand’s next prime minister Srettha Thavisin has crypto history

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On Aug. 22, Thailand’s parliament elected real estate tycoon Srettha Thavisin as the country’s next prime minister. Thavisin is best known as the former president and CEO of Sansiri, one of Thailand’s largest real estate developers, which also has some background in cryptocurrency. Thavisin was the only candidate nominated by the Pheu Thai Party, receiving 482 votes out of a possible 747 in Thailand’s parliament. His victory could potentially have implications for the cryptocurrency industry in Thailand, as Sansiri was an active investor in the country’s digital asset industry. Thavisin quit…

Solana In Turbulence: Analyzing The Death Cross

Solana (SOL) has found itself under the shadow of a foreboding technical pattern known as the “Death Cross.” This ominous occurrence, defined by the 50-day moving average crossing below the 200-day moving average, has historically heralded significant price downturns.  Investors are now eyeing the charts as SOL grapples with this pattern once again, raising questions about its future trajectory. For the uninitiated in the intricacies of technical analysis, the Death Cross is akin to a storm warning on the horizon. It emerges when a short-term moving average dives beneath a…