Category: CryptoX News

Risk of More Losses as $55K Test Looms

Bitcoin price failed to start a recovery wave above the $61,500 resistance zone. BTC started another decline and might dive toward $55,000. Bitcoin started a fresh decline and traded below the $58,500 zone. The price is trading below $60,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $58,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to start a fresh increase above the $60,000 resistance zone. Bitcoin Price Extends Losses Bitcoin price…

German Government Still Holds Over 40K Bitcoins After Recent Sale, Onchain Data Shows

The German government has been selling seized bitcoin but still holds more than 40K BTC, worth over $2.3 billion, according to onchain data from blockchain intelligence firm Arkham. These sales are occurring alongside the anticipated Mt. Gox bitcoin distributions. In response to Germany’s BTC liquidation, Tron founder Justin Sun has offered to purchase the remaining […] Source CryptoX Portal

Meta Launches Awards to Drive AI Innovation in Developing Regions

Meta launched the Meta Llama Impact Innovation Awards to support organizations in developing regions that use Meta’s advanced AI models, Llama 2 and 3, to solve local problems in education, environment, and other areas. The AI models are recognized for their enhanced reasoning capabilities and potential to drive economic and social opportunities. Grants of up […] Source CryptoX Portal

Are they a good thing?

While industry advocates have welcomed the finalized crypto tax measures after years of wrangling, messy deliberations about non-custodial providers still lie ahead. It’s been a long time consuming, but the Internal Revenue Service and the Treasury Department have finally agreed upon new crypto tax reporting rules for investors. At first, you may assume that these new guidelines would send shivers down the spine of exchanges and customers alike. But given there’s long been exasperation over a lack of clarity in the space, the policy — which attracted a whopping 44,000…

Fed’s Minutes Report Cites High Inflation and Economic Risks in Decision to Hold Rates

According to the minutes from the Federal Reserve’s Federal Open Market Committee (FOMC), the choice to maintain the federal funds rate in its current range was driven by concerns about ongoing inflation and economic instability. Economic Instability and Inflation Keep Fed Rates Steady At the June 11-12 meeting, the FOMC highlighted that although inflation has […] Source CryptoX Portal

Kidnappers arrested after demanding a $660,000 USDT ransom

Two Hong Kong kidnappers demanded a stablecoin ransom before getting arrested, highlighting concerns over crypto-related crimes and safety. The interesting and jarring kidnapping took place in Tseung Kwan O, Hong Kong, and saw criminals demanding a cryptocurrency ransom for a three-year-old boy. The child was abducted on July 3 while shopping with his mother.  According to local media reports, the criminals demanded a ransom of 660,000 USDT from the parents for the release of the boy through the messaging app Telegram. The abduction, captured on CCTV, showed the toddler being…

UAE’s Zand Bank to Offer Crypto Services

Zand Bank, the UAE’s first digital bank, has entered into a strategic partnership with Taurus SA, a global leader in digital asset technology for banks. This partnership will cover all aspects of Zand’s digital asset infrastructure, including custody, tokenization, and blockchain connectivity. Zand will leverage Taurus’ integrated custody and tokenization solutions to expand its digital […] Source CryptoX Portal