Tag: News

BTC Moves to Fresh Multi-Week Low Following Silvergate Liquidation Announcement – Market Updates Bitcoin News

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Bitcoin continued to trade lower on March 9, as prices fell to a fresh multi-week low in today’s session. The decline came as crypto bank Silvergate confirmed that it will be winding down operations. Ethereum also edged lower. Bitcoin Bitcoin (BTC) fell for a fourth straight session on Thursday, as markets reacted to news that Silvergate Bank will be liquidating its operations. Following a high of $22,198.90 on Wednesday, BTC/USD slipped to an intraday low of $21,609.99 earlier today. The decline in price pushed bitcoin to its lowest point since…

Hong Kong Residents Lost More Than $216 Million to Crypto Scams in 2022 – Regulation Bitcoin News

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According to Hong Kong police, in 2022 there were 2,336 reported crypto scam-related cases in which more than $216.6 million was lost. Although losses relating to crypto scams only constituted just over 10% of the nearly 23,000 reported technology crimes, they still accounted for more than half of the $407.7 million that was lost to online fraudsters. Crypto-Related Scams Constitute Just Over 10% of Reported Technology Crimes Hong Kong residents reportedly incurred cryptocurrency-related scam losses totaling $216.6 million (HK$1.7 billion), just over half of the $407.7 million that was lost…

Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’ – Bitcoin News

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Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers Entice Russians to Put Money Into Non-Existent Cryptocurrency Fraudsters have been sending emails to Russian residents claiming to be writing on behalf of a regulatory body about the upcoming launch of “the Russian state cryptocurrency,” the Tass news agency reported, quoting Kaspersky Lab. “With such…

Blockchain Retail Market Size to Top Over $2 Billion by 2028 — Study – Blockchain Bitcoin News

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According to Fortune Business Insights, the global blockchain retail market size is expected to surge from the $172.2 million recorded in 2021 to over $2 billion by 2028. Both the demand for the product by end-users as well as the growing use of the technology in supply chain management are expected to sustain the market’s projected compound annual growth rate (CAGR) of 42.8%. Inherent Benefits of Blockchain The value of the global blockchain retail market size is expected to grow from the $172.2 million recorded in 2021 to over $2…

Mt Gox Trustee Sets Final Cut-off Date for Creditors to Claim Over $3 Billion in Recovered Bitcoin – Bitcoin News

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The Tokyo bankruptcy court trustee for the defunct Japanese bitcoin exchange Mt Gox, Nobuaki Kobayashi, has published a letter stating that creditors have until March 10, 2023 (Japan Time) to register their repayment claims. Kobayashi explains that the team is dealing with “a large number of inquiries” and may not be able to respond to creditors in time if they have questions about the process. Mt Gox Trustee Shares Final Deadline for Creditor Registration The Mt Gox saga appears to be nearing its conclusion as the Shibuya-based bitcoin exchange’s rehabilitation…

Coinbase Launches Wallet-as-a-Service to Bring Millions to Web3 – Bitcoin News

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On March 8, Coinbase announced the launch of its Wallet-as-a-Service (WaaS) product. The WaaS product aims to “bring the next hundred million consumers into Web3 through a seamless wallet-onboarding experience.” The Coinbase WaaS offers wallet infrastructure application programming interfaces (APIs) to companies, enabling them to build their own custom Web3 crypto wallets. Coinbase’s Wallet-as-a-Service Aims to Simplify Onboarding Coinbase Global (Nasdaq: COIN) has revealed a new addition to its suite of offerings and services: Wallet-as-a-Service (WaaS). In a Twitter thread, Coinbase stated that the WaaS “is a scalable and secure…

UK Widens Crackdown on Unauthorized Crypto ATMs – Regulation Bitcoin News

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Britain’s top financial regulator, the Financial Conduct Authority (FCA), has widened its crackdown on unauthorized cryptocurrency ATMs. “There are currently no crypto ATM operators registered with the FCA, which they must be to operate legally,” the regulator noted. FCA Cracks Down on Illegal Crypto ATMs Britain’s top financial regulator, the Financial Conduct Authority (FCA), announced Wednesday that it has taken further action against unregistered crypto ATMs in East London in collaboration with the Metropolitan Police, the largest police force in the U.K. The announcement followed a series of raids the…

Bitcoin Proponents Slam Nobel Laureate Paul Krugman After Venmo Payment Issue – Bitcoin News

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Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters who insisted that Krugman was now realizing the importance of censorship-resistant payment systems. Krugman’s Experience Highlights the Growing Interest in Censorship-Resistant Payment Systems Nobel Prize winner and author Paul Krugman, who famously wrote in 1998 that “by 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s,” had…

Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist – Bitcoin News

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At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant financial troubles the bank faced, and the firm’s stock plummeted in value. Details of Silvergate’s Wind Down and Liquidation Plan Over the last six months, Silvergate Capital Corporation’s (NYSE: SI) stock dropped 94.82% against the U.S. dollar as the company faced significant financial troubles tied to its exposure to the now-defunct crypto exchange FTX. On Wednesday, March 8, 2023, the company announced it…

Ethereum Co-Founder Vitalik Buterin’s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet – Bitcoin News

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On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000 in value. The market liquidity of the airdropped tokens was shallow, and the relatively unknown ERC20 tokens plummeted in value after Buterin reportedly sold the funds. Crypto Speculators Question Motives Behind Vitalik Buterin’s Airdropped Token Sell-Off According to a record of token transfers associated with an address labeled “VB,” Vitalik Buterin, the co-founder of Ethereum, appears to have sold…