Tag: Cash

China Recognizes Digital Yuan in Cash Circulation Data

The update on the digital yuan in circulation was revealed by the People’s Bank of China (PBoC) in the 2022 Financial Statistics Report.   For the first time, China included the digital yuan while calculating the amount of currency in circulation in December. This is significant to the country and the early adopters of the central bank digital currency. History will also recognize China as one of the first countries to develop its central bank digital currency. The country also conducted pilot tests and trials toward the launch of its digital yuan.…

Kingdomverse Hosts the King’s Crown Mobile Game Tournament with Cash and Crypto Prizes Alongside SAKURA GUILD GAMES

Place/Date: Hong Kong – January 11th, 2023 at 10:22 pm UTC · 2 min read Source: Kingdomverse Kingdomverse, the first “Mobile Games Metaverse” will host the King’s Crown Tournament with its mobile game, Defend the Kingdom (DTK). Set to take place between January 16, 2023 11:00am HKT to February 6, 2023 11:00am HKT, the tournament will boast a staggering prize pool. Top 1,500 players will win a share of 250,000 $KING (Kingdomverse’s native token) and top 100 players will win a share of $5,000 USDC. Kingdomverse will partner with SAKURA…

FTX has recovered over $5B in cash and liquid crypto: Report

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According to an attorney familiar with the matter, troubled cryptocurrency exchange FTX has “recovered $5 billion in cash and liquid cryptocurrencies.” However, the exchange is still “working to rebuild transaction history,” and the total amount of customer shortfall is “still unclear.” Cointelegraph previously reported that FTX has $8.8 billion in total liabilities. At the time, sources said the exchange had very little in cash and liquid digital assets, amounting to an estimated $8 billion hole in its balance sheet.  Cast your vote now! Sam Bankman-Fried, the disgraced founder of FTX,…

Sanctions Reduce Total Inflow of Tornado Cash by 68%

In the most recent report, Chainalysis research suggested that the illegal use of Tornado Cash was essentially associated with crypto hacks and scams, with an approximate average of thirty-four percent of all inflows. Tornado Cash, an open-source, decentralized cryptocurrency tumbler, which was recently in news for its conjectured role in the laundering of criminal proceeds, has been crippled after the levying of sanctions. The decentralized mixer, was, however, not completely put out of usage by the regulatory conduct. The crypto mixer’s alleged malpractice was disclosed on August 8th last year…

Morgan Stanley Eyes Bitcoin Market via GBTC and Cash Settled Futures on Its European Fund

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Morgan Stanley warned that the value of GBTC may drop ‘precipitously’ to zero due to regulatory changes, a crisis of confidence, a flaw, or an operational issue in the Bitcoin network. Morgan Stanley (NYSE: MS) has announced that its European Fund has set aside cash to invest in the Bitcoin market. According to its annual shareholder’s report filed on January 5 to the SEC, the company’s European Opportunity Fund has made a deliberate attempt to invest in the volatile crypto market via cash-settled futures or indirectly through Grayscale Bitcoin Trust…

Decentralization meant sanctions couldn’t ‘pull the plug’ on Tornado Cash: Chainalysis

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Sanctions aimed at decentralized crypto mixer Tornado Cash weren’t able to completely cut off its usage, though it has hamstrung the service, a blockchain analytics firm has shared. On Aug. 8, the Office of Foreign Assets Control (OFAC) announced sanctions against the crypto mixer for its role in the laundering of crime proceeds. In a report published on Jan. 9, Chainalysis said the sanctions did have some effect, causing total inflows to the mixer to drop by 68% in the 30 days after the sanctions came into force. 1/ The…

Exploited Nomad Bridge Wallet Transfers $1.5M to Tornado Cash

As the team behind Nomad Bridge works on relaunching the platform, a fresh movement of 1200 ETH has been noticed from one of the wallet addresses linked to the hack. A wallet address belonging to Nomad Bridge, which faced a $190 million exploit last week, has recently moved a total of $1.57 million in ETH to the banned crypto mixer Tornado Cash. As per the PeckShield data, attackers of the cross-chain interoperability protocol transferred 1,205 ETH (about $1.5 million) to Tornado Cash. #PeckShieldAlert @nomadxyz_ bridge exploit related address has transferred…

Nomad exploit wallet address transfers $1.5M to Tornado Cash

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An address related to the $190-million Nomad exploit has moved $1.57 million in Ether (ETH) to the sanctioned crypto mixer Tornado Cash.  In an alert, blockchain security firm CertiK flagged that a wallet address affiliated with the Nomad hack has transferred 1,200 ETH into Tornado Cash, suggesting that the attackers may be cashing in the funds. The hacker transferred 12 batches of 100 ETH to the sanctioned mixer. Nomad hack address transferring funds to Tornado Cash. Source: Etherscan The Nomad bridge hack was one of the ten largest crypto hacks…