Crypto News and Updates

Tinkoff Bank and Sberbank are no longer available for P2PPeer-to-Peer Networks (P2P) networks allow people to connect with each other directly for sharing things - without going through a middleman. transactions on ByBit and OKX, two major crypto exchanges. This move follows the footsteps of Binance in excluding Russian banks due to international financial sanctions. Local users in Russia can no longer receive fiat money in exchange for their crypto on Tinkoff or Sberbank accounts on OKX and ByBit. Interestingly, OKX still allows users to receive fiat on their accounts from Raiffeisen Bank and the Russian Standard Bank, which a…

Laos has suspended electricity supply to crypto mining operations due to the struggle to generate enough power amid drought conditions. The country experienced higher electricity demand and lower power generation capabilities from hydropower plants. The suspension is also due to the inability of crypto mining projects to pay their outstanding balances. The move aims to prioritize local electricity supply and export large volumes to Thailand in 2024. This decision comes after the Laotian go…

As August comes to an end, Bitcoin’s price remains weak and traders brace for more pain. September is historically a poorly-performing month for Bitcoin, and with the monthly close approaching, another downside surprise may be in store. The market outlook is uncertain, with no rebound in sight. This article analyzes the main talking points for the week ahead and discusses the potential for a further drop in Bitcoin’s price. Additionally, it highlights the longest bear market in Bitcoin’s hist…

Indian Prime Minister Narendra Modi has emphasized the need for a global collaboration on formulating cryptocurrency regulations. During the G20 summit, Modi highlighted the impact of emerging technologies like blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. and cryptocurrency on a global scale. He emphasized that the rules and regulations surrounding these technologies should have a worldwide consensus, similar to the common global rules and regulations in the aviation industry. India, as the current G20 President, has expan…

Bloomberg Intelligence senior macro strategist Mike McGlone predicts a ‘global economic reset’ that could push Bitcoin down to $10,000. McGlone suggests that troubling economic indicators from China, indicating a slowdown in its economy, could be the catalyst for a significant global downturn. Despite the potential drop in price, McGlone still sees Bitcoin as a leading indicator for risk assets and believes it will remain a top-performing asset. However, a global economic reset could hinde…

Bitcoin miners are facing challenges as the network hash rate reaches new highs while profitability declines. The hash rate of the Bitcoin network recently surpassed 414 exahashes per second (EH/s), marking a significant increase from previous levels. However, the revenue per terahash per second per day has dropped to $0.060, a decline from earlier this year. This decrease in profitability is a cause for concern among miners as more efficient rigs are being produced. To sustain profitabili…

Hong Kong’s Financial Secretary, Paul Chan Mo-po, believes that blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. and Web3 technology will drive the next wave of growth in the digital tech sector in Hong Kong. He highlights the potential of emerging sectors within Web3, such as NFTs, GameFi, Play-to-Earn gaming, and immersive entertainment, to lead the next generation of digital entertainment. Chan emphasizes the various applications of blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. technology in finance, commerce, trade, supply chain management, and daily life.<...

Less than three weeks after its launch, the decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... social network Friend.tech has experienced a significant drop in key metrics such as activity, inflows, and volume. Critics have already declared it ‘dead’ as buyers, sellers, inflows, and transactions have all taken a dive. This article examines the reasons behind this decline and explores the platform’s failure due to greed and poor execution. Despite attracting crypto and non-crypto influencers, Friend.tech’s fees have plummeted,…

Fenix International, the parent company of OnlyFans, has revealed its cryptocurrency holdings, investing nearly $20 million in EtherEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. (ETHEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH.) between 2021 and 2022. Despite a decline in crypto asset prices, the company’s ETHEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. holdings were valued at $11.4 million as of November 2022. OnlyFans experienced solid growth, with a 16.6% increase in revenue, a 47% increase in creators, and a 27% increase in subscribers. This investment follows previous forays into the digital asset space by the compa…

Despite the recent hype around decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... social networks, user onboarding and retention remain major challenges. According to industry insiders, up to 99% of first-time users in the decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... social media space end up quitting due to clunky onboarding processes and lack of familiarity with the technology.

Simplifying the onboarding flow is crucial for mainstream adoption, as the current process of exchanging cryptocurrencies, setting up wallets, and paying high transaction fe…

Balancer, an EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. automated market maker and decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... finance protocol, fell victim to an exploit just days after disclosing a vulnerability affecting its boosted pools. The attack resulted in a loss of nearly $900,000. The protocol’s team confirmed the incident on X, stating that while mitigation measures had reduced risks, affected pools could not be paused. To prevent further exploits, users were advised to withdraw funds from affected liquidity providers. The attacker’s Ethere…

Bitcoin’s price holding at $26,000 presents bullish trading opportunities for altcoins such as TON, XMR, MNT, and QNT. CryptoQuant CEO Ki Young Ju notes that Bitcoin’s velocity has hit a 3-year low, suggesting that whales are holding onto their positions. JPMorgan analysts believe that Bitcoin’s downtrend may be ending, as the declining open interest in Bitcoin futures contracts indicates that the long liquidation is over. Altcoins may offer short-term trading opportunities if Bitcoin rema…