Tag: News

ECB Member Fabio Panetta Claims Rising Profit Margins Could Be Fueling Inflation – Economics Bitcoin News

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Fabio Panetta, a member of the executive board of the European Central Bank (ECB), has stated that companies increasing their profit margins could be helping to fuel inflation. In an interview with the New York Times, Panetta warned about the effect that companies increasing such margins could have on inflation levels in the long term. ECB’s Panetta Links Profit Margins With Inflation Fabio Panetta, a member of the executive board of the European Central Bank (ECB) and former deputy governor of the Bank of Italy, has brought attention to the…

US Justice Department Seizes Cryptocurrency Worth $112 Million in ‘Pig Butchering’ Crackdown – Regulation Bitcoin News

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The U.S. Department of Justice (DOJ) says it has seized cryptocurrency worth over $112 million linked to fraudulent investment schemes known as “pig butchering.” According to court documents, the seized crypto accounts were allegedly “used to launder proceeds of various cryptocurrency confidence scams,” the Justice Department said. $112 Million in Crypto Seized by DOJ The U.S. Department of Justice (DOJ) announced Monday that it has seized cryptocurrency worth more than $112 million “linked to cryptocurrency investment scams.” Noting that the Federal Bureau of Investigation (FBI) Phoenix Division is investigating this…

Seoul Takes Control Over $160 Million in Assets of Former Terraform Employees, Founder – Bitcoin News

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Authorities in South Korea have reportedly seized assets worth billions of won belonging to former representatives of Terraform Labs. The measure should prevent suspects in the case with the failed blockchain firm from selling property that may have been obtained with criminal proceeds. South Korean Law Enforcement Moves to Seize Terraform-Linked Real Estate, Report Prosecutors in South Korea have so far established control over 210 billion won (nearly $160 million) in assets owned by employees and executives of Terraform Labs, the company behind the collapsed cryptocurrency luna and stablecoin terrausd,…

Unbeatable Welcome Offer for New Players on BitSpinCasino – Promoted Bitcoin News

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Step into the Cosmic World of Gaming with BitspinCasino’s Welcome Offer of up to 3 BTC. A Cosmic Entrance: New Players Get up to Free BitspinCasino, the new online casino that promises to take players on a journey through the cosmos, has made a grand entrance into the online gaming world. The casino is offering an unbeatable welcome offer of up to for players to play for free. New players are being offered a whopping 110% deposit bonus for their first three deposits, with a chance to get up to…

P2P Bitcoin Exchange Paxful Suspends Marketplace With Uncertainty of Return – Bitcoin News

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According to a message from Paxful Founder and CEO, Ray Youssef, the peer-to-peer bitcoin trading platform is suspending its marketplace, and the company is uncertain if it will return. Youssef cited challenges such as regulations and some key staff departures, but he also noted that he could not share the full story at this time. Challenges Cited by Paxful CEO Ray Youssef Explain Why the P2P Bitcoin Exchange Is Suspending Its Marketplace On April 4, 2023, Paxful released a blog post stating that the peer-to-peer Bitcoin (P2P) exchange is suspending…

US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States  – Economics Bitcoin News

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After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that Riyadh is no longer interested in pleasing the United States. The Growing Shift Away from U.S. Dollar Hegemony in Global Trade and Finance There has been a lot of focus on OPEC members and the…

Rogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses – Bitcoin News

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On April 3, 2023, at Ethereum block height 16,964,664, a group of MEV (Maximal Extractable Value) bots were exploited for $25.3 million. An analysis of the exploit revealed that a renegade validator switched the MEV bots’ transactions and seized various crypto tokens, such as 7,460 wrapped ether and 64 wrapped bitcoin. While the Mechanisms Behind MEV Bots Boost Profit, They Also Have Vulnerability to Exploits Recently, crypto proponents and security experts have been discussing how a group of MEV bots lost $25.3 million in a sophisticated exploit. The attacker used…

ETH Hits 8-Month High, as BTC Nears Key Resistance Level – Market Updates Bitcoin News

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Ethereum surged to an eight-month high on Tuesday, as bulls began to gradually return to cryptocurrency markets. As the session matured, the global market cap moved higher, and is up by 1.27% at the time of writing. Bitcoin moved closer to a key resistance level at $28,500. Bitcoin Bitcoin (BTC) continued to trade close to a key resistance level on Tuesday, as volatility in the market remained high. BTC/USD rose to a peak of $28,433.74 earlier in today’s session, which follows up from a low of $27,276.72 on Monday. As…