The outflow of assets from crypto exchanges is considered a bullish sign, as it indicates traders are moving their assets away from exchanges and no longer want to sell. Major crypto exchanges recorded a net outflow on Oct. 24 as the price of Bitcoin (BTC) briefly touched the $35,000 mark for the first time in…
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Usage is down, but the future of crypto looks bright thanks to adoption in up-and-coming economies, according to Chainalysis. India leads the world in crypto adoption, followed by Nigeria and Vietnam, according to a new Chainalysis report. Nonetheless, North America accounts for nearly a quarter of all value received by cryptocurrency exchanges, with the United…
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Bitcoin started the week with a bang, but the real question is, what is driving the move and is it sustainable? Bitcoin (BTC) price pushed above the $31,000 mark on Oct. 23, notching a near 4-month high last seen when BTC price traded at $31,800. The fresh upside push comes as analysts and investors express…
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The new governor of China’s central bank has promised to stop speculation associated with cryptocurrency transactions in the country. Pan Gongsheng made the vow in a report detailing measures to maintain the stability of the Chinese financial market and prevent risks. PBOC Prepares to Crack Down on Cryptocurrency Speculation and Money Laundering The People’s Bank…
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The securities regulator and the central banking institution of Hong Kong have updated the region’s crypto policy in response to enquiries from the industry. In a circular on the virtual asset-related activities of intermediaries, the authorities introduced additional measures to protect retail investors, restricting their access to what they describe as “complex products.” Hong Kong…
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Analysis suggests at least three Reddit moderators dumped thousands of dollars worth of Moons just minutes before the actual announcement. Popular social network platform Reddit announced the winddown of its blockchain-based community points program on Oct. 17, citing scalability issues. The announcement created controversy in the crypto community, with many calling it a rug-pull, as…
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Cryptocurrency exchange Binance is restoring fiat services for customers using the common European currency, the euro (EUR). The coin trading giant announced that users are already migrating to the new platforms it partnered with in the wake of losing the services of Paysafe. Crypto Exchange Binance Offers Users New EUR Options for Deposits and Withdrawals…
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Uniswap announced it would start charging a swap fee of 15% from Oct. 17, evoking mixed reactions from the crypto community. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was…
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The notice came more than a month after more than a thousand users reported losses from the JPEX crypto exchange. The Securities and Futures Commission (SFC) of Hong Kong announced it will update its policies on virtual currency sales and requirements “in light of the latest market developments and enquiries from the industry”. In an…
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CertiK says Standard Cross Finance hired actors to pose as executives, then dumped tokens on investors, draining $1.6 million from the project’s liquidity pool. On Oct. 10, the development team for gaming project FinSoul carried out an alleged exit scam, siphoning away $1.6 million from investors through market manipulation, according to a recent report from…
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