Bitcoin’s recent price actions have taken a turn for the worse, with the asset slumping to a 2-week low of $57,100. This marks a significant drop from its recent peak of over $65,100 just a week ago. Despite briefly recovering to $61,000, bitcoin has struggled to maintain its momentum and has since dropped below $58,000
Crypto
The recent arrest of a London resident for operating a Bitcoin ATM without proper registration has raised concerns about the risks associated with unregulated cryptocurrency transactions in the UK. This unprecedented case sheds light on the potential consequences of disregarding regulatory requirements in the crypto sector. Habibur Rahman, 37, was arrested following a raid at
The payments industry has witnessed significant growth over the last five decades, becoming one of the largest and fastest-growing sectors globally. However, a critical issue plagues the sector – it still relies on outdated technology rails that become increasingly inefficient over time. According to a report from Binance Research, blockchains, distributed ledger technology (DLT), and
Recently, Peter Diamandis, the founder of X Prize and Singularity University, posed a thought-provoking question to his vast following on social media. He asked whether Bitcoin, the renowned cryptocurrency, would ever need a bailout. The responses he received shed light on the unwavering reliability of Bitcoin over the past 15 years. One follower highlighted the
Crypto.com, a Singapore-based cryptocurrency exchange, has recently announced a partnership with Standard Chartered, a multinational banking institution. This collaboration aims to offer retail users worldwide access to fiat services, specifically enabling deposits and withdrawals in the United States dollar (USD), euro (EUR), and the United Arab Emirates Dirham (AED) through the Crypto.com app. Initially, these
Recent findings from TRM Labs have shed light on a troubling trend in the world of cryptocurrency – illicit activity at crypto ATMs. According to their latest report, these machines have processed over $160 million in illicit volumes since 2019, with a significant increase seen in 2023. The proportion of illicit transactions at crypto ATMs
With Federal Reserve chair Jerome Powell’s recent comments at the Jackson Hole symposium, the demand for bitcoin (BTC) in the United States has seen a notable increase. This surge in interest has been evident through various metrics such as the Coinbase Premium reaching its highest level since July at 0.11%. This increase in demand has
2024 was supposed to be the year when Bitcoin would skyrocket to the elusive $100,000 mark, following a history-making all-time high earlier in the year. The expectations were high, especially after the completion of the scheduled halving in April. However, the reality has been far from what was anticipated. Despite coming close to breaking the
The U.S. Securities and Exchange Commission (SEC) recently filed charges against two brothers for allegedly orchestrating a $60 million Ponzi scheme. The complaint, lodged in the United States District Court for the Northern District of Georgia in Atlanta, accuses Jonathan Adam and his brother Tanner Adam of deceiving over 80 individuals. The brothers purportedly enticed
The issue of centralization within the cryptocurrency market is a hotly debated topic. High levels of centralization can result in a few entities holding a significant amount of power, which goes against the decentralized nature that many cryptocurrencies aim to achieve. When looking at popular projects like Polygon (MATIC) and Shiba Inu (SHIB), it is
