Tag: Million

Nevada Man Pleads Guilty in $722 Million Fraudulent Cryptocurrency Scheme – Regulation Bitcoin News

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A Nevada man has admitted his role in laundering funds solicited for the Bitclub Network, a $722 million fraudulent cryptocurrency scheme. He also pleaded guilty to tax offenses. Bitclub Network Investor Pleads Guilty The U.S. Department of Justice (DOJ) announced Thursday that Gordon Brad Beckstead, a 57-year-old from Henderson, Nevada, has pleaded guilty in connection with the Bitclub Network fraud. The announcement details: A Nevada man today admitted his role in laundering funds solicited for Bitclub Network, a $722 million fraudulent cryptocurrency scheme. The DOJ explained that the Bitclub Network…

Number of Addresses Holding BTC Taps 40 Million, Non-Zero Bitcoin Address Metric Grew 92% Since 2018 – Bitcoin News

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While bitcoin has risen in value in recent times, jumping 8% during the last seven days, statistics show that the number of addresses holding bitcoin has surpassed 40 million addresses. Metrics from the analytics web portal intotheblock.com show addresses that hold any fraction of bitcoin tapped a 30-day high on March 24, reaching 40.25 million addresses. Addresses That Hold a Small Fraction of Bitcoin or More Swelled Past 40 Million Non-zero bitcoin (BTC) addresses or accounts that hold at least a single satoshi of BTC has grown at a parabolic…

Crypto Pyramid Busted in Russia, Losses Exceed $10 Million – Bitcoin News

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Russian law enforcement agencies have gone after the organizers of a large crypto pyramid which has been promising extraordinarily high returns. The Ponzi scheme is being unraveled after a similar project defrauded thousands of investors in Russia, the region, and far beyond. Police Find Crypto Pyramid Organizers in Dagestan, Russia Officers from the Federal Security Service (FSB) and the Ministry of Internal Affairs in the Russian republic of Dagestan have identified persons suspected of organizing a major financial pyramid offering victims profits of up to 500% per year on their…

Bitcoin Almost Hits $44,000 With Terra $125 Million BTC Purchase Tempo Up

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Since Jan. 24, Bitcoin has been rising above an ascending support line. Thus far, the cryptocurrency has confirmed the line many times, and the subsequent rebound has resulted in the continuous upward movement. The price is rapidly approaching the $44,000 horizontal resistance line, which BTC has not traded above since the first week of January. Wednesday’s price decline was brief, as bitcoin surged to a fresh three-week high above $43,000. The majority of altcoins have also entered the green zone, led by Dogecoin, Shiba Inu, Cardano, and NEAR Protocol. Bitcoin…

Accelerated Development of Pi Blockchain Yields Decentralized KYC Solution, 33 Million Engaged Users, and More on Path Towards Open Mainnet

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An Examination of the Social Cryptocurrency Reveals Numerous Recent Achievements and an Exciting Future On March 14, 2022, Pi Network celebrated its 3rd anniversary with important announcements and updates. The network defined future plans and shared  progress in terms of technology, product, and community growth since last year’s Pi Day. Pi Network Growth March 14, 2021 – March 14, 2022 Pi Network had an amazing year of growth filled with accomplishments that fulfilled its roadmap objectives and grew the utility of the network. In the last year, Pi Network launched…

Bitcoin Impulse Wave Triggered Crypto Market Surge as Whale Closed $120 Million Short Position

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The crypto markets kicked off the week in barnstorming fashion with broad-based gains across a plethora of tokens. A Bitcoin impulse wave sent the world’s largest cryptocurrency by market cap into the $43k region before a slight retrace back into the $42k range.  One anonymous whale is said to have triggered the spike in BTC price after closing a $120 million short position. A BTC whale supposedly closed a $120 million short position on Monday morning. While the reasons behind the trade remain unclear, the decision could be behind a…

Ethereum Whales Purchase Over $6 Million Worth Of APE Tokens

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The APE crypto project has arisen as the most purchased digital currency by the largest Ethereum wallet in the last 24 hours. The release of the APE crypto project has been the table-shaker of this week. Interestingly, last Thursday, the APE coin was deployed into the public markets after being distributed to BAYC NFT holders as an airdrop. Currently, news has it that mainstream Ethereum users are readily interested in going big on the APE coin, and they have their actions to precede them. WhaleStates About Ethereum WhaleStates, one of…

Struct Finance Completes $3.9 Million Seed Round To Develop DeFi-oriented Structured Products

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The world of structured products is set to undergo tremendous changes. Decentralizing these investment vehicles introduces modularity that would otherwise remain inaccessible. Struct Finance has secured $3.9 million in seed funding to usher in the era of decentralized structured products. Takes A Different Approach It is no secret that decentralized finance remains one of the most appealing concepts of blockchain and cryptocurrency today. The industry has grown from small beginnings and now represents over $220 billion in Total Value Locked. Users are drawn to these protocols, products, and services in…

More Than $20 Million In Long Liquidations As Bitcoin Falls To $41,000

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Bitcoin had broken above $40,000 again last week, marking the digital asset’s fifth break above this point this year alone. Given that it has been trending in its $36-$38k support level before this, traders had taken to placing their trades in anticipation of the cryptocurrency’s next movements. The digital asset had barreled towards $42,000 leaving positive sentiment in its wake but resistance at this point proved devastating for long traders. Bitcoin Long Traders Suffer Losses A recent pullback in the price of bitcoin saw a significant amount of long liquidations…

Second Largest Crypto Network Records 2 Million Ethereum Destroyed in 7 Months – Bitcoin News

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This week, the Ethereum network’s burn rate reached a milestone by surpassing 2 million ethereum burned worth $5.81 billion since August 5, 2021. Metrics show the crypto network has a 24-hour burn rate of 1.74 ether per minute, which equates to roughly $5K worth of ether destroyed every 60 seconds. 2 Million Ethereum Burned, More Than $5K in Ether Destroyed Every Minute During the last year, the Ethereum (ETH) network has seen a slew of changes and seven months ago the network implemented the Ethereum Improvement Proposal (EIP) 1559 on…