A large number of Bitcoin retail investors have suffered losses, BIS study
According to new research from one of the world’s leading central bank institutions, the Bank of International Settlements, approximately 73 to 81 percent of newfound bitcoin investors and retail Bitcoin buyers have lost money when putting their funds into the great crypto game and are likely to be in the negative on their investment (BIS). […]
Volume of trade between British Pound and Bitcoin hits new high
Trading volumes between the British pound and the cryptocurrency Bitcoin hit a new high after the fall in the value of the pound on Monday, suggesting investors are scrambling to dump sterling for the digital asset or profit from arbitrage, according to analysts. According to Kaiko Research, the volume of Bitcoin-pound swap transactions on eight […]
Bitcoin struggles to go green as efforts record small gains
According to research from the University of Cambridge, Bitcoin’s greenhouse gas emissions are expected to be 48.4 million tonnes of carbon dioxide equivalent this year, 14% less than the estimated emissions for 2021. However, Bitcoin is struggling to go green, with the cryptocurrency making only marginal gains this year in the use of sustainable energy. […]
Police Arrest man Accused of Laundering Crypto Worth tens of Millions
On 6 September 2022, Dutch police arrested a 39-year-old man in the village of Veenendaal on suspicion of laundering millions of euros in cryptocurrency through phishing attacks. After working closely with the country’s central cybercrime team to monitor certain Bitcoin transactions, ‘Politie Gelderland’ (Eastern) seized devices and “data carriers” to assist with investigations. Police were […]
El Salvador’s Bitcoin Plans Fail
A year after El Salvador made Bitcoin legal tender and required all businesses to accept it, the experiment has failed due to falling cryptocurrency prices and a lack of use of the government’s Chivo e-wallet app to buy goods or send money. Nor is the cryptocurrency city proposed by President Nayib Bukele, which offered itself […]
Bitcoin falls Below US$20,000 Mark
Bitcoin has fallen below US$20,000 for the first time since mid-July, down nearly 60% from its peak in 2022. Saturday’s readings show that it has fallen 1.5% to US$19,946, or $298 less than the previous closing price. It is now estimated to be 58.7% below the peak of US$48,234 set on March 28, 2022. Meanwhile, […]
More Than $100 Million in NFT Stolen Between January and July
According to blockchain research firm Elliptic, more than $100 million worth of non-fungible tokens were stolen by attackers in the year to July. Security compromises via social media have skyrocketed since NFT gained prominence, accounting for 23% of NFT thefts in 2022. While NFT thieves received an average of $300,000 per scam, the extent of […]
Crypto.com Receives Approval To Offer Crypto Asset Services In The U.K.
Crypto.com, a Singapore-based cryptocurrency platform, announced that it has registered with the U.K. Financial Conduct Authority. Successful registration means that the cryptocurrency platform is now cleared to offer crypto asset services and products to customers in the UK. Crypto.com will operate in accordance with anti-money laundering and “terrorist” financing rules. Kris Marszalek, the company’s CEO, […]
Losses From Crypto Hacks Soar 60% to US$1.9 billion
According to a blog post by blockchain analysis firm Chainalysis, losses from hacks of cryptocurrencies soared by almost 60 percent from January to July to US$1.9 billion, compared with US$1.2 billion stolen from hacking in the same period last year. A steep increase in funds stolen from the decentralized finance (DeFi) protocols contributed mainly to […]
Federal Reserve Gives Guidance to Banks Considering Crypto Activities
The U.S. Federal Reserve on Tuesday issued additional guidelines for banks considering activities involving cryptocurrencies. The guidelines warned that banks must ensure that they have systems in place beforehand to ensure that volatile assets do not pose a threat to safety, soundness or consumer protection. Banks are required to notify the Fed before undertaking any […]
