Day: August 2, 2024

Social media and video sharing platforms put on notice over poor children’s privacy practices

We are calling on 11 social media and video sharing platforms to improve their children’s privacy practices. Where platforms do not comply with the law, they will face enforcement action. This follows our ongoing review of social media platforms (SMPs) and video sharing platforms (VSPs) as part of our Children’s Code Strategy. Our Tech Lab reviewed 34 SMPs and VSPs focusing on the process young people go through to sign-up for accounts. Varying levels of adherence to our Children’s code were found, with some platforms not doing enough to protect…

Polymarket $3.8 Million Venezuelan Presidential Election Bet Still Undecided

Polymarket, the cryptocurrency-based prediction markets platform, has not been able to resolve the bet on the outcome of the Venezuelan presidential election. While the country’s electoral authority, the Electoral National Council (CNE), proclaimed President Nicolas Maduro as the winner, the opposition forces contested the election. This is due to the lack of a complete breakdown […] Source CryptoX Portal

Marathon Digital sells 51% of Bitcoin produced in Q2 as net loss soars to $200m

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Bitcoin mining company Marathon Digital has disclosed in its Q2 financial report that it sold over 50% of the BTC it mined during the quarter to fund operating costs. Marathon Digital Holdings, a publicly traded American crypto mining firm, saw its shares drop more than 7% on Thursday, Aug. 1, following the release of its earnings report, which showed revenue falling significantly short of analysts’ expectations. According to the report, the company produced a total of 2,058 Bitcoin (BTC) during Q2, representing a 30% decrease compared to Q2 2023. Marathon…

India’s Enforcement Directorate cracks down on $890k Emoillent crypto scam

India’s Enforcement Directorate has launched a search operation against the founders of Emoillent Coin, a dubious cryptocurrency that promised investors lucrative returns. Reports from local media allege that 2,508 investors in India lost a total of 7,343,6267 inr (approximately $890,000) in hopes of making profits from the cryptocurrency hype. The fake coin, launched under the brand name “Emollient Coin Limited,” drew in users by offering returns of up to 40% in exchange for locking their investments for ten months. To further entice victims, it promoted a multi-level referral scheme that…

GRT Market Signals 12% Drop: Is A Turnaround Possible?

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GRT’s current situation mirrors the bearishness the broader market is experiencing. Today, the total market cap shows a percentage slip, due to the major cryptocurrencies returning to levels that investors can sustain. On the altcoin side, GRT is one of the tokens that were hit hard by the bears. Related Reading According to CoinGecko, the token is down nearly 12% since last week, showing exaggerated losses in the face of continuous downward pressure. Although the token’s performance within the market leaves much to be desired, The Graph devs are brewing…

Bahamas Enacts Digital Assets and Registered Exchanges Act

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The Bahamas has enacted the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), establishing itself as a leader in digital asset regulation. Announced by the Securities Commission, DARE 2024 builds on the DARE Act, 2020, introducing significant reforms to address the evolving digital asset landscape. Christina Rolle, Executive Director of the Securities Commission, emphasized […] Source