Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over…
Read more
Following the hack on July 2, 2022, the team behind the decentralized finance (defi) protocol Crema Finance detailed that after some negotiation, the hacker returned roughly $8 million in crypto assets. According to the team, the hacker agreed to take a white hat bounty worth 45,455 solana. Hacker Returns $8 Million in Crypto to Crema…
Read more
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances…
Read more
Starting on July 25, the Zimbabwean public will be able to buy and hold gold coins which weigh one troy ounce each. In addition to their use as an alternative store of value, the central bank says the coins can be traded and used as “security for loans and credit facilities.” Coins to Be Sold…
Read more
Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that “consumers are pulling back on their net investment into…
Read more
Crypto turmoil continues to deepen, with further maneuvers at Celsius (CEL) and a company recounting details of how it dodged the Three Arrows Captial (3AC) fallout – while the crypto exchange giant FTX appears set to bail out yet more ailing crypto players with a “few billion” dollars worth of reserve funds…. Read More: Crypto…
Read more
Bitcoin price is trading well above the USD 19,500 support zone. BTC even tested the USD 20,500 level. It is currently (03:51 UTC) trading near USD 20,400 and is up around 2% in a day and a week. Similarly, most major altcoins are also moving higher. ETH tested USD 1,200 while XRP is fluctuating below…
Read more
The price of BTC could be set for a bullish rebound this year, says Bloomberg’s senior commodity strategist Mike McGlon, as the market shows similar signs to the bottom of 2018. Bloomberg’s senior commodity strategist Mike McGlone is tipping that the price of Bitcoin (BTC) will rebound in the second half (2H) of 2022. Sharing…
Read more
The Crema Finance team awarded the hacker who made off with nearly $10 million in funds from the protocol 16.7% of the stolen funds as a white hat bounty. The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2 returned most of the funds but was allowed to keep $1.6 million as a…
Read more
A new legal advisory notice from the US Office of Government Ethics prohibits any employee who owns cryptocurrency from working on Federal crypto regulation. US government officials who privately own cryptocurrencies are now banned from working on regulations and policies that could affect the value of digital assets. A new advisory notice released by the…
Read more
