Bitcoin prices have crashed again with a huge four-thousand-dollar dump from just over $62,000 to bottom out at $58,000 during late trading on Tuesday, Aug. 27. According to Coinglass, 87,920 traders have been wrecked, with the total liquidations coming in at $320 million over the past 24 hours. BTC has since recovered marginally to trade […]
The Russian government will soon start trials on cryptocurrency exchanges and digital token usage for cross-border transactions. According to a Bloomberg report, they are scheduled to begin on September 1 and are aimed at alleviating payment difficulties for local companies dealing with international sanctions. Crypto Trials The tests will focus on swapping between rubles and […]
Bitcoin’s price movements took a massive turn for the worse in the past 24 hours as the asset plummeted to a 9-day low of just over $58,000. The altcoins have bled out heavily as well, with notable declines from the likes of ETH, SOL, DOGE, LINK, AVAX, SHIB, and others. The total value of liquidations […]
The bankrupt cryptocurrency lender Celsius Network has released its first status report on creditor distributions, revealing that affected parties have received over $2.53 billion in liquid crypto and cash. According to a filing with the United States Bankruptcy Court for the Southern District of New York, the $2.53 billion in crypto and cash was distributed […]
On Aug. 27, on-chain analytics provider Santiment reported that Bitcoin’s recent “mild” price drop was enough to cause a larger decline in total open interest on exchanges. However, OI for Ethereum and Solana has barely declined, it added. Open interest is a measure of the number or value of crypto derivatives contracts that have yet […]
After Telegram CEO and founder Pavel Durov was arrested by French authorities over the weekend, more details have emerged that shed light on the reason for his apprehension. On July 8, a judicial investigation was opened against “a person unnamed” on charges related to complicity with various offenses committed using Durov’s messaging app, including money […]
Digital asset investment products attracted $533 million in inflows last week, the biggest in over a month, following Jerome Powell’s hint at the Jackson Hole Symposium that an interest rate cut might occur in September. While trading volumes were lower than in recent weeks, these products still totaled $9 billion for the past seven days. […]
Thailand’s law authorities recently raided a house occupied by a company running Bitcoin mining operations. According to the South China Morning Post’s coverage, the illegally operated Bitcoin mining activities triggered frequent power outages in the vicinity for over a month. Illegal Bitcoin Mining Operations Bitcoin, the leading cryptocurrency, uses a proof-of-work (PoW) consensus mechanism. This […]
A former Kansas bank executive was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme that led to the collapse of Heartland Tri-State Bank (HTSB). Shan Hanes, 53, the former CEO of HTSB, pleaded guilty to one count of embezzlement by a bank officer. $47M Crypto Fraud Court […]
A suspect named Zhang has been extradited from Thailand to China for allegedly leading a $14 billion (100 billion yuan) crypto pyramid scheme. He is the first financial criminal to be extradited under the China-Thailand treaty since its inception in 1999. The Ministry of Public Security in China announced that Chinese and Thai officials have […]