Category: Cryptocurrency

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Singapore Police Warn About ‘Crypto Drainers’ Stealing Cryptocurrencies From Wallets

February 3, 2024

Singapore’s Police Force and Cyber Security Agency (CSA) have issued a joint warning about “crypto drainer” malware, which steals cryptocurrencies from wallets. As digital assets become more popular, “Cybercriminals are increasingly leveraging crypto drainers to target owners of cryptocurrency wallets,” the authorities cautioned. Singapore Police Warn About Crypto Drainers The Singapore Police Force and the…
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EU Regulator Proposes Stricter Rules for Foreign Crypto Firms

February 3, 2024

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator, has proposed stricter rules for crypto firms based outside the EU, limiting their ability to directly serve customers within the bloc to ensure fair competition. ESMA Proposes Stricter Rules for Non-EU Crypto Firms The European Securities and Markets Authority (ESMA), responsible for regulating…
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Bitcoin’s Mining Difficulty Skyrockets by 7.33%, Setting New Record for 2024

February 3, 2024

On Friday, Feb. 2, 2024, the Bitcoin network witnessed a significant milestone as its mining complexity metric surged by 7.33% at block height 828,576. This marked the most substantial increase in difficulty for the year thus far. The current level of difficulty stands at 75.50 trillion, reaffirming its status as the most challenging period for…
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Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through

February 3, 2024

The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million dirhams ($13.6 million) directly to China. UAE Completes First…
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OFAC Blocks Venezuelan Gold Business, Warns About Upcoming Oil Sanctions

February 2, 2024

The Office of Foreign Assets Control (OFAC) has revoked the license of Minerven, the Venezuela-owned gold company, for commercializing gold in international markets. The sanctions on Minerven, which were eased in October, will be applied again on February 13, with oil and gas sanctions reported to return in April. OFAC Winds Down Venezuelan Gold Operations…
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Supreme Court Ruling Bolsters Australian FTX Creditors’ Prospects for Full Recovery

February 2, 2024

The prospects of Australian creditors of the crypto exchange FTX getting all their money back recently received a boost after a judge ruled that only those who initiated Australian dollar withdrawal requests are entitled to a share of the $26 million recovered. Australian investors with crypto-to-crypto withdrawal requests will have to wait for the completion…
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End of the Line for OPNX, Built by Three Arrows Co-Founders Zhu and Davies

February 2, 2024

OPNX has declared it will cease all activities next month. This decision comes as co-founders Su Zhu and Kyle Davies grapple with legal repercussions stemming from their previous venture’s failure, Three Arrows Capital. OPNX to Shut Down Amid Three Arrows Co-Founders’ Legal Troubles Open Exchange (OPNX), a platform unique for trading bankruptcy claims alongside its…
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Singapore High Court Denies 3AC’s Bid to Dismiss Suit by Defiance Capital Founder

February 2, 2024

The High Court of Singapore has denied Three Arrows Capital’s (3AC) attempt to dismiss a lawsuit by Defiance Capital founder Cheong Jun Yoong, affirming the legal standing of digital assets in trust disputes. Singapore Court Upholds Defiance Capital’s Suit Against 3AC in Crypto Case The High Court of Singapore has rejected a motion by the…
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Bitcoin Technical Analysis: BTC’s Price Resilience Holds Steady Amidst Market Fluctuations

February 2, 2024

On Friday, the price of bitcoin fluctuated within a daily span from $41,937 to $43,347, with its market value reaching $846 billion. The trading activity for the day tallied up to $17.35 billion, showcasing a spike in investor involvement and market liquidity, which tends to diminish as the weekend approaches. Bitcoin The current sentiment towards…
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Blackrock’s IBIT Bitcoin Reserves Soar, Securing 70,005 BTC Valued at Nearly $3 Billion

February 2, 2024

According to the latest metrics, Grayscale’s Bitcoin Trust, commonly referred to as GBTC, saw a decline of approximately 9,520.27 bitcoins, valued at around $410 million, between Jan. 31 and Feb. 1, 2024. During a two-day period, Blackrock’s spot bitcoin exchange-traded fund (ETF), IBIT, expanded its reserve holdings from 63,488.22 bitcoins to the current total of…
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