Tag: News

FBI Says Crypto Investment Fraud Rose 183% to $2.57 Billion in 2022 – Featured Bitcoin News

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The Federal Bureau of Investigation (FBI) says cryptocurrency investment fraud rose 183% from $907 million in 2021 to $2.57 billion in 2022, based on data from its Internet Crime Complaint Center (IC3). The FBI also warned the public of “a spike in cryptocurrency investment schemes.” FBI’s Crypto Crime Statistics The Federal Bureau of Investigation (FBI) published its 2022 Internet Crime Report last week. The report is compiled using data from the agency’s Internet Crime Complaint Center (IC3) which “serves as a public resource to submit reports of cyberattacks and incidents,”…

Court Dismisses Former Monero Developer’s Bid to Have His Extradition to South Africa Declared Illegal – Regulation Bitcoin News

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The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni Challenges Extradition Process A South African court has dismissed former Monero lead developer Riccardo Spagni’s attempt to have his extradition from the United States to South Africa ruled illegal, a local report has said. In…

India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions – Regulation Bitcoin News

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India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India and UAE,” India’s central bank explained. India and UAE Collaborate on CBDCs India’s central bank, the Reserve Bank of India (RBI), announced Wednesday a collaboration with the Central Bank of the United Arab Emirates to…

Strategist Warns Credit Suisse Next to Collapse — Says ‘There’s a Run on the Bank’ – Economics Bitcoin News

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Market strategist Greg Foss has predicted that Credit Suisse will be the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday after the bank failed to raise capital from its largest investor. Credit Suisse Next to Fall, Says Strategist Market strategist Greg Foss warned about the impending collapse of Swiss banking giant Credit Suisse on the Coin Stories podcast, published Tuesday. His warning followed the collapses…

Michael Burry Compares Current Banking Turmoil to Panic of 1907 — Highlights Markets Bottoming – Economics Bitcoin News

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Michael Burry, a hedge fund manager renowned for predicting the 2008 financial crisis, has drawn parallels between the current banking turmoil and the Panic of 1907. He noted that three weeks after J.P. Morgan made a stand, the panic was resolved and the markets bottomed. “A stand was made this past weekend,” the famous investor pointed out. Michael Burry on Bank Failures, Panic of 1907, Markets Bottoming Famous investor and founder of investment firm Scion Asset Management, Michael Burry, has compared the current financial turmoil, following the collapse of multiple…

UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents – Taxes Bitcoin News

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Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s U.K. subsidiary, finance minister Jeremy Hunt delivered the spring 2023 budget on Wednesday. Hunt, who was previously dealing with the bank’s failure, told BBC reporters that the shutdown of the U.K. financial institution posed no…

Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa – Market Updates Bitcoin News

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After dropping below $26,000 per unit, the price of bitcoin, the leading digital asset by market capitalization, is still up 9.6% since last week. However, its price has decreased by 6.5% in the last 24 hours. Out of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds worth more than $82 trillion in value, bitcoin is the 12th largest asset worldwide by valuation. Bitcoin’s Market Capitalization Compared to Other Top Assets: Leading Crypto Climbs Above Visa, But Lags Behind Meta Crypto assets, specifically bitcoin (BTC), have increased in value…

British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams – Bitcoin News

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On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious Approach Towards Crypto Assets Prompts Another Transfer Limit Amid the banking sector rout in the United States following the collapse of Silicon Valley Bank (SVB) and its subsidiary, Silicon Valley Bank U.K. Ltd., the Edinburgh-based financial institution Natwest is limiting cryptocurrency payments. Natwest, however, cites cryptocurrency…

Openai’s GPT-4 Launch Sparks Surge in AI-Centric Crypto Assets – Altcoins Bitcoin News

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Following Openai’s release of GPT-4, a deep learning and artificial intelligence product, crypto assets focused on AI have spiked in value. The AGIX token of the Singularitynet project has risen 25.63% in the last 24 hours. Over the last seven days, four out of the top five AI-centric digital currencies have seen double-digit gains against the U.S. dollar. An Overview of AI-Centric Crypto Asset Market Moves After GPT-4 Release On March 14, 2023, Openai launched the next iteration of deep learning and artificial intelligence (AI) with the release of GPT-4,…

NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs

By Paul Hoffman from BestBrokers Looming Fed rate hikes were the hottest topic in the beginning of 2022. Shortly after that global markets dove even deeper into the red with the start of the war between Russia and Ukraine. Not long after the LUNA crash followed and crypto markets plunged deeply. Unfavorable events for the global economy continued and caused further damage to all crypto assets. Despite all the negativity surrounding crypto and multiple published analyses, concluding with the announcement of “crypto winter”, the NFT sector kept developing at a…