Day: June 1, 2024

Report Shows No Evidence of Special Treatment for BTC Ponzi Scheme Mastermind in Brazilian Jail

The Brazilian State Attorney General has dismissed allegations that Johann Steynberg, the late mastermind of a South African bitcoin ponzi scheme, was granted irregular access to a computer and the internet while in prison. Acting public prosecutor Lauro Machado Nogueira recently released a report stating that evidence from prison authorities contradicted these claims. Additionally, Steynberg, […] Source CryptoX Portal

$2.5 Billion In Bitcoin Flows Out Of Centralized Exchanges

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Investor confidence appears to be on the rise in the crypto market lately, and Bitcoin has been a major beneficiary of this positive trend. Consequently, there has been a continuous accumulation of BTC amongst large-scale investors despite its somewhat frustrating price action. The premier cryptocurrency’s price may have ended May beneath the psychological $70,000 mark, despite having touched the level a couple of times in the last two weeks of the month. The latest on-chain data suggests that the faith in Bitcoin has only continued to grow strong. Is BTC…

Worldcoin Officially Launches in Colombia

Worldcoin, the iris-scanning biometric proof-of-personhood project, announced on Thursday the launch of its operations in Colombia. Via social media, the project reported that eye-scanning operations were already available in Bogota and Medellin, for World ID users. Currently, only ten locations with orbs (iris scanning machines) are available, six in Bogota and four in Medellin. Nonetheless, […] Source CryptoX Portal

Ripple (XRP) Transforms Cross-Border Payments with Blockchain Technology

Ripple is making significant strides in revolutionizing cross-border payments by leveraging the power of blockchain technology and its native digital asset, XRP. According to Ripple Blog, trillions of dollars are sent across borders annually, but traditional mechanisms remain slow, expensive, and prone to errors. Ripple aims to address these inefficiencies by creating a seamless, cost-effective, and reliable payment solution. How Ripple Payments Work Traditional cross-border payment systems rely heavily on a shrinking network of correspondent banks, resulting in slow settlement times, lack of transparency, and…

Franklin Templeton Launches Fee War With 0.19% Offer

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Following the abrupt approval of the Ethereum Spot ETFs by the US Securities and Exchange Commission (SEC), several prospective issuers have now filed amended versions of their S-1 forms. This development follows an initial directive from the commission that necessitated all asset managers vying to launch an Ether Spot ETF  to submit their draft S-1 filings on Friday. Related Reading Franklin Templeton Opens Floor With 0.19% Sponsor Fee Among the many S-1 amendments received by the SEC on Friday, Top asset management firm Franklin Templeton caught many spectators’ attention after…

Turkey Detains 127 Crypto Ponzi Scheme Co-Conspirators, Seizes Assets Worth Over $31 Million

According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The syndicate is reported to have swindled $1 billion from investors who were deceived by the scammers’ promise of high profits and zero risks. During the […] Source CryptoX Portal

Why is Polygon Busy But Not Making Money?

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Polygon (MATIC), a Layer-2 scaling solution for the Ethereum blockchain, finds itself in a curious position. Recent data from Messari paints a picture of a network brimming with activity – daily active addresses surging nearly 120%, new user sign-ups exploding by 70%, and daily transactions reaching a staggering 4 million. Yet, beneath this bustling surface lies a troubling undercurrent: a 19% drop in quarterly revenue compared to the previous quarter, and a hefty 40% decline year-over-year. Related Reading Polygon: A Network On Fire Polygon’s user base is clearly smitten. The…

SEC Issues Investor Alert Highlighting 5 Common Crypto Scams

The SEC’s Office of Investor Education and Advocacy has issued an alert, highlighting five common crypto scams investors should watch out for to avoid losing money. The SEC warns that fraudsters exploit cryptocurrency popularity with sophisticated techniques, making fund recovery difficult. For example, “Fraudsters may conduct pump-and-dump schemes with crypto assets, including so-called ‘memecoins’ that […] Source CryptoX Portal

billionaires catching up to crypto FOMO

What prompted billionaire investors like George Soros, Mark Cuban, and others to change their stance on Bitcoin and dive into the crypto market? George Soros, the Hungarian-American billionaire and legendary investor, is known for his sharp financial insights and bold moves in the investment world.  Back in January 2018, Soros made headlines at the World Economic Forum in Davos by calling Bitcoin a “bubble,” comparing the crypto frenzy to the tulip mania of the 1600s in the Netherlands. However, in a surprising turn of events, Soros Fund Management revealed in…

Penguiana Doubles Market Cap to Over $2.5 Million Ahead of GUIANA NFT Mint

Penguiana, the distinctive penguin-themed meme coin on the Solana blockchain, continues to captivate the crypto community, achieving a new milestone by doubling its market cap to over $2.5 million according to Dexscreener. This surge in valuation underscores the strong investor confidence and community enthusiasm surrounding the project, especially with the impending launch of the GUIANA […] Source CryptoX Portal