The year 2023 has seen a disappointing performance for crypto scammers, according to a recent report by blockchain intelligence firm Chainalysis. The report reveals a 65% decrease in inflows to “known illicit entities” compared to the same period last year. Additionally, inflows to “risky” entities have also dropped by 42%, while inflows to “legitimate services”
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Bitcoin (BTC) has shown promising signs of challenging range highs, backed by new macroeconomic data that has provided a boost to risk asset bulls. While the BTC price focus has shifted above $30,500, it is important to analyze the implications of this shift and its potential impact on the market. In this article, we will
Binance, one of the world’s largest cryptocurrency exchanges, has made a significant move in strengthening its regulatory compliance efforts. The exchange recently announced the appointment of Eleanor Hughes as its new general counsel. With her extensive experience and past successes, Hughes is tasked with leading Binance’s global regulatory initiatives in an ever-evolving industry. Hughes first
The U.S. Department of Justice (DOJ) has recently made a major move in the world of cryptocurrency. According to onchain data, they have transferred a total of 9,825 Bitcoin (BTC), which is equivalent to a staggering $302 million, to new addresses. These funds were originally seized in connection to the shutdown of Silk Road, a
South Korean companies operating in the cryptocurrency space will be required to disclose comprehensive information about their transactions to the country’s financial regulator starting from January 2024. This new requirement, announced by the Financial Services Commission (FSC) of South Korea, aims to enhance accounting transparency for digital asset transactions. The government’s objective is to protect
Bitcoin (BTC) has been steadily making progress towards the $31,000 mark, drawing attention from traders and analysts who eagerly awaited the release of the United States Consumer Price Index (CPI) for June. Despite its gradual rise, BTC exhibited minimal volatility at the beginning of the week, with clearly defined local range highs and lows. Traders
Ark Invest Management, a prominent investment firm, recently made headlines when it sold 135,152 shares of Coinbase, amounting to $12 million. This move is noteworthy considering Coinbase’s positive price performance, reaching a one-year high of $90 on July 11. Moreover, Coinbase has outperformed Bitcoin in the last 30 days, with a growth rate of over
The Russian government’s stance on cryptocurrencies has been a source of confusion and uncertainty for several years. While the Central Bank supports a complete ban on crypto-related activities, other government ministries, including finance, trade, and energy, have expressed a desire to legalize and regulate cryptocurrency. This conflicting approach has created a deadlock between these bodies,
As Bitcoin continues to gain popularity and value, concerns about its energy consumption have become more prevalent. However, a recent report by Coinmetrics suggests that the energy efficiency of Bitcoin has significantly improved over the past five years. The report also sheds light on the dominance of three specific mining rig models in the Bitcoin
The recent lawsuit filed by Cameron and Tyler Winklevoss, the billionaire twins who own the crypto exchange Gemini, against Barry Silbert’s cryptocurrency conglomerate Digital Currency Group (DCG) has raised eyebrows in the industry. While the lawsuit accuses DCG and its CEO Barry Silbert of defrauding creditors, many speculate that there might be ulterior motives behind
