The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said. 16 Foreign Crypto Exchanges Flagged by South Korean…
Read more
Big traditional companies have continued to embrace crypto in a variety of ways over the past year, despite the current market downturn. To keep you up to date on who is doing what to secure their slice of the crypto economy, we have gathered a list of 10 traditional companies that have recently taken (another)…
Read more
Scott Beck, the CEO of United Texas Bank, claimed that stablecoin issuers like Circle were “effectively sucking deposits out of the banking industry.” Scott Beck, chief executive officer of United Texas Bank, called on members of the state’s blockchain working group to recommend policy for leaving stablecoins to banks rather than crypto firms. Speaking before…
Read more
Some users took to Twitter to bemoan what some are calling a continuing attack on privacy in the wake of the U.S. Treasury Dept.’s action against Tornado Cash. FTX has reportedly begun blocking accounts that have sent coins through zk.money, a private layer-2 chain provided by the Aztec Network on Ethereum. According to Twitter users,…
Read more
Crypto Unicorns founder Aron Beireschmitt chats with NFT Steez about the key components blockchain-games need to build sustainable in-game play-and-earn economies. As the hype surrounding play-to-earn (P2E) games and platforms began to dwindle in early 2022, Web3 participants began to emphasize the need for games to be more “fun” and less finance-oriented. In the most…
Read more
There are signs of further turbulence ahead. The absence of a BTC futures premium, $470 million in liquidations and excessive stablecoin lending all point toward new yearly lows. On Friday, August 19, the total crypto market capitalization dropped by 9.1%, but more importantly, the all-important $1 trillion psychological support was tapped. The market’s latest venture…
Read more
The government agency had previously stated that deposits at non-bank entities, including crypto firms, are not covered by FDIC insurance. The Federal Deposit Insurance Corporation (FDIC) has issued cease and desist letters to five companies for allegedly making false representations about deposit insurance related to cryptocurrencies. FDIC issued a Friday press release disclosing cease and…
Read more
Bitcoin’s value against the U.S. dollar lost 7.3% during the last 24 hours after more than $600 million in value was removed from the $1.07 trillion crypto economy. Statistics show that a number of bitcoin miners capitulated over the last two weeks, selling 5,925 bitcoin worth millions, according to cryptoquant.com data. More Than 6,100 Bitcoin…
Read more
After the Crypto Fear and Greed Index (CFGI) dropped to significant lows and pointed to “extreme fear” in crypto markets at the end of May, and throughout most of June, today the CFGI rating is still in the “fear” zone, but it has seen an improvement. On June 19, the CFGI rating tapped a low…
Read more
Fabian Riewe is the Co-founder of Web3 data lake solution KYVE.__________ Data validation has always been a key factor in analyzing and clarifying data. From financial transactions completed online to approvals across computer programs, having the correct data is key. Conducting transactions without the correct data leads to malfunctions and ultimately undermines the integrity of…
Read more
