Crypto winters are actually good for Bitcoin as some pivotal BTC projects like the Lightning Network were born during bear markets. The crisis has triggered a wave of panic in the community, with the Bitcoin miners’ selling activity surging to seven-month highs as the BTC mining profitability has dropped to October 2020 levels. Bitcoin’s Fear…
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Huobi Thailand failed to fix system issues despite several extensions given by the Thai SEC. Huobi’s Thailand unit is set to wind down operations by July 1, after its operating license was revoked by the Thai Securities and Exchanges Commission (SEC). The Thai SEC revoked Huobi’s license in May after it failed to comply with…
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While markets are going up, people get more comfortable putting their cryptoassets into trusted third parties such as centralized exchanges and centralized lending platforms that promise increasingly enticing returns. The good times never last, though. As markets peak and monetary policy tightens, companies that overleveraged on the way up expose themselves to liquidity risks. If…
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A new report from global consulting firm McKinsey found that the metaverse could be worth $5 trillion by 2030. Global spending in the metaverse could reach $5 trillion by 2030, according to a new report from international consulting firm McKinsey & Company. Published yesterday, the 77-page report titled “Value Creation in the Metaverse” analyzed current…
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Exchange platforms will get an opportunity to operate legally in Astana international finance center in 2022. In addition to its swift advances toward regulating crypto mining, Kazakhstan will launch a pilot project for crypto exchanges in the special economic zone of Astana International Finance Centre. The Ministry of Digital Development, Innovations and Aerospace Industry of…
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Alejandro Zelaya, the treasury minister of El Salvador, called out the critics of the investments that his country, through the action of President Nayib Bukele, has made in bitcoin. Zelaya stated that there had not been any losses because the bitcoin purchased — around 2,300 BTC — had not been sold. He also qualified the…
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Danny Yuan said that their team detected that $1 million was missing from their company’s funds at Three Arrows Capital (3AC). Danny Yuan, the CEO of trading firm 8 Blocks Capital, called out to platforms that are holding funds owned by 3AC to freeze the assets, as rumors of 3AC’s insolvency stay afloat. In a…
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Bitcoin price traded close to the USD 20,000 support zone before the bulls appeared. BTC formed a base and started a recovery wave above the USD 22,000 level. It is currently (04:02 UTC) consolidating near USD 22,300 and facing resistance near USD 23,000. BTC is up almost 4% in a day and down 26%…
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Delo was allowed to leave the country to travel to Hong Kong where he is a resident, bringing to a close his part in the legal saga which began in 2020. Benjamin Delo the co-founder of cryptocurrency exchange BitMEX has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is…
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Yahoo has announced its intention to launch a series of Metaverse projects in Hong Kong, apparently creating a brief rally for Decentraland’s native token, MANA. Yahoo has announced a series of Metaverse and NFT-related activities in Hong Kong, a day after Meta Platforms outlined its own metaverse plans for the region. Yahoo, a US-based internet…
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