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We deliver up-to-date, breaking crypto news about the latest Bitcoin, Ethereum, Blockchain, NFTs, and Altcoin trends and happenings you can follow us

Global Manhunt for Terra Luna Founder Do Kwon After Interpol Issues Red Notice

27 Sep
0 173 Post by
The global law enforcement agency the International Criminal Police Organization (Interpol), issued a notice for Terraform Labs co-founder Do Kwon just a few weeks after a warrant for his arrest was issued by South Korean authorities. The red notice enables South Korea to receive help from global law enforcement bodies in locating and “provisionally arresting a person pending extradition, surrender, or similar legal action.” Global Manhunt for Terraform Labs CEO Just a few weeks after South Korean authorities issued an arrest warrant for Do Kwon and his associates, the global law enforcement agency the International Criminal Police Organization (Interpol) has reportedly issued a red notice for the Terraform Labs co-founder. The issuing of the notice follows reports that Kwon is not residing in Singapore as Korean authorities initially thought. According to Interpol, red notices are “issued for fugitives wanted either for prosecution or to serve a sentence.” The red notice enables South Korea to receive help from global law enforcement bodies in locating and “provisionally arrest[ing] a person pending extradition, surrender, or similar legal action.” Do Kwon’s Silence As reported by Bitcoin.com News, South Korean prosecutors accuse Kwon and five other Terraform Labs affiliates of violating the country’s capital markets law. Kwon also faces other charges that prosecutors have not divulged. In his initial response to reports that Korean authorities had issued an arrest warrant for him, Kwon insisted in a September 17 tweet that he was not on the run. Instead, he claimed that he was cooperating with “any government agency that has shown interest to communicate.” The Terraform Labs chief executive officer has not issued a response to the reports that show Interpol has issued a red notice. Earlier this afternoon at 1:05 p.m. (ET), Kwon responded to a tweet that said: “[Do Kwon] where [are] you hiding fam?” Kwon replied that he was “writing code” in his “living room” and further told the individual to come and visit, and that they should have a cigarette soon.
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Categories: News

Biggest Movers: LTC Hits Highest Point Since June, as APE Climbs to 3-Week High

13 Sep
0 162 Post by
Litecoin rose to a three-month high in today’s session, following a breakout of a key resistance level. The move took place prior to the release of U.S. inflation data, which fell to 8.3% in August. However, following the release, which was higher than expected, earlier gains eased. Apecoin also hit a multi-week high in today’s session. Litecoin (LTC) Litecoin (LTC) climbed to a three-month high on Tuesday, as the token moved beyond its $64.50 resistance level. Following a low of $60.39 to start the week, LTC/USD rallied to an intraday peak of $67.07 in today’s session. This is the strongest point that litecoin has traded at since June 1, when the token hit a high of $70.50. LTC/USD – Daily Chart Today’s surge in LTC was somewhat short lived, with prices falling below the aforementioned resistance point as the day progressed. As of writing, litecoin is trading at $63.43, and this comes as the relative strength index (RSI) hit a hurdle of its own. The index collided with a ceiling of 60.00, which bulls have so far been unable to move beyond, resulting in prices dropping. Apecoin (APE) While litecoin hit a three-month peak, apecoin (APE) moved to a three-week high earlier in the day. APE/USD was able to climb to a peak of $5.87 on Tuesday, less than 24 hours after trading at a low of $5.25. Tuesday’s top is the highest point that apecoin has traded at since August 18, when the token was above $6.00. APE/USD – Daily Chart Looking at the chart, APE has been on a bull run over the past week, following a bounce from support of $4.20. This has led to an increase in price momentum, with the 10-day (red) moving average, now on the cusp of a cross with the longer-term 25-day (blue) trend line. Prices have since tailed off, as the RSI fell from its recent six-week peak above the 60.00 mark.
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Categories: trade signal

The Top Privacy Coins Saw Fewer Percentage Losses Than Most Tokens This Week

07 Sep
0 247 Post by
The privacy coins monero and zcash managed to see fewer percentage losses against the U.S. dollar this week, in contrast to crypto assets like bitcoin, ethereum, and solana. Seven-day statistics indicate zcash has lost 5.6% against the USD, while monero dropped by 6.1%. Privacy Coins Manage to Stave off Some of This Week’s Market Carnage, but Are Still Down 62% Lower Than 9 Months Ago At the time of writing, the entire market capitalization of all the privacy coins in existence is roughly $5.55 billion. Monero (XMR) leads the pack with a market valuation of around $2.64 billion or 47.5% of the entire privacy coin economy. Zcash (ZEC) is the second largest privacy coin in terms of market capitalization as ZEC’s overall market valuation today is $789 million. The top five privacy coins by market valuation on August 29, 2022. Behind XMR and ZEC, are privacy tokens such as decred (DCR), nucypher (NU), secret (SCRT), horizen (ZEN), ergo (ERG), digibyte (DGB), and beldex (BDX), respectively. Top privacy coin double-digit gainers this week include deeponion (ONION), litecash (CASH), pivx (PIVX), and masari (MSR). The week’s top privacy coin losers in terms of percentage losses include tokens like zclassic (ZCL), lethean (LTHN), and phore (PHR). XMR/USDT 1H chart. The top five privacy coin crypto assets make up most of the $5.55 billion in privacy coin value, and each token offers different types of privacy techniques. XMR is a Cryptonote token with a blockchain protocol that was not forked from Bitcoin. XMR uses ring signatures, ring confidential transactions, stealth addresses, bulletproofs, and Dandelion++. The ZEC network can shield transactions by leveraging a zero-knowledge proof called zk-SNARKs. ZEC/USDT 1H chart. Decred (DCR) utilizes a Coinjoin mixing scheme called Coinshuffle++ (CSPP) to obfuscate transactions. Nucypher (NU) deploys Proxy Re-Encryption (PRE), a technology that allows the owner of the private key to encrypt data. Similar to NU, the Secret (SCRT) blockchain provides key management techniques, Trusted Execution Environment (TEE) schemes combined with encryption to enhance privacy. While privacy coins have taken less of a beating this week compared to ETH or BTC, they still have lost quite a bit of value during the last year. Four months ago the privacy crypto coin economy was worth a whole lot more, at $10.7 billion. XMR’s overall market valuation was $4.13 billion and ZEC’s was $1.84 billion on April 28, 2022. Nine months ago on November 6, 2021, the privacy token economy was worth $14.9 billion.   At that time in November 2021, NU was not in the top five, as horizen (ZEN) held the fifth position in terms of privacy coins by market cap. XMR’s overall market valuation was $4.69 billion. ZEC’s market capitalization on November 6, 2021 was slightly higher than the April 28, 2022 record with $1.94 billion. In November 2021, XMR’s and ZEC’s market caps combined were larger than today’s privacy coin economy value.
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Categories: trade signal

Bitcoin’s Mining Difficulty Change Prints 2022’s Second Largest Increase — Metric Nears All-Time High

01 Sep
0 223 Post by
On Wednesday, Bitcoin’s mining difficulty jumped 9.26% higher, recording the second highest difficulty rise in 2022. The latest rise is Bitcoin’s third difficulty increase since August 4, 2022, and it’s now 11.63% harder to find bitcoin block reward. Bitcoin Difficulty Jumps 9.26% — Metric Prints the Second Largest Rise This Year Bitcoin (BTC) has experienced the third difficulty increase this month as the difficulty increased by 9.26% on August 31. The difficulty change took place at block height 751,968, and the 9.26% jump is the second biggest this year. The largest rise in 2022 took place 223 days ago on January 20, 2022, at block height 719,712. Currently, the difficulty is 30.98 trillion, which is only 0.27 below the network difficulty’s all-time high (ATH) at 31.25 trillion on May 10, 2022. With bitcoin’s lower USD value and a 9.26% difficulty increase, miners have been dealt a blow. In fact, the last three difficulty increases have made it 11.63% harder to find a bitcoin block reward prior to August 4. On August 4, at block height 747,936, Bitcoin’s mining difficulty rose by 1.74% and two weeks later, it increased again by 0.63%. Five days ago, Bitcoin.com News reported on the community discussing the possibility of the difficulty seeing a notable rise. On August 25, Blocksbridge Consulting tweeted that it was expecting “a notable difficulty jump.” Furthermore, during that same week, Bitcoin’s hashrate spiked to 282.21 exahash per second (EH/s). The hashrate was roughly 3.35% lower than the all-time high (ATH) recorded on June 8, 2022, at block height 739,928. At the time of writing, Bitcoin’s hashrate is coasting along at 236.33 EH/s. The difficulty rise and the lower BTC value has not affected miners yet as the hashrate continues to run at elevated speeds. The difficulty increases when 2,016 bitcoin block rewards are discovered ‘too fast,’ and the metric decreases when the block discovery time or interval is ‘too slow.’ Average Block Interval and Current Hashrate Speed Show Another Increase Is Likely in the Cards Satoshi Nakamoto’s design makes it so roughly every ten minutes, a new BTC block is found as the DAA system is modeled by a Poisson distribution scheme. The average block interval at the time of writing is 7:59 minutes, which means if the next 2,016 bitcoin block rewards are discovered ‘too fast,’ the next difficulty is estimated to increase again. There are roughly 1,964 BTC block rewards left until the next difficulty shift and it is estimated to take place on September 12, 2022. If the rise is higher on that day, there’s a great possibility that the network’s difficulty could very well surpass the ATH recorded 113 days ago on May 10, 2022.
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Categories: News

Bitgo Adds Near Protocol Support — Custodian to Store Near Foundation’s Treasury

20 Jul
0 261 Post by
On July 19, the digital asset company Bitgo announced it has partnered with the Near Foundation and will be “the first qualified custodian to support the protocol and its assets, including its native token.” The collaboration will give institutions holding near protocol (NEAR) tokens the ability to store and stake the coins via Bitgo’s platform. Bitgo Partners With the Near Foundation The digital asset financial services firm Bitgo has inked a partnership deal with the Near Foundation, the non-profit foundation headquartered in Switzerland that’s responsible for the development and core governance for the Near protocol. The Near protocol is an open-source, carbon neutral, public proof-of-stake (PoS) blockchain that uses the Nightshade consensus mechanism. The Palo Alto, California-based company Bitgo says that through the new partnership, “institutions holding [near protocol] tokens will now be able to custody and stake these tokens via hot wallets and qualified custody wallets on Bitgo’s platform.” The Near Foundation will also custody the foundation’s treasury and stake the assets via Bitgo’s platform. “Bitgo is excited to become the first qualified custodian to provide services to the entire Near Protocol ecosystem, including holders of the [near] token who have been searching for a secure way to store and stake their assets,” Bitgo’s vice president of product, Nuri Chang said in a statement. Chang added: "The [Near Protocol] has built an extensive network of institutions that are committed to furthering the Open Web and Web3 evolution, and we are excited to deliver them safe and secure custody and staking services for their [near] tokens." Bitgo’s Token Roster Is Just Shy of 600 Crypto Assets The crypto asset near protocol (NEAR) is the 27th largest by market capitalization at the time of writing and has been trading for $3.92 to $4.57 during the last 24 hours. NEAR’s market valuation today is $3.3 billion or 0.298% of the crypto economy’s $1 trillion market valuation. NEAR has performed better than most crypto assets this year as the digital currency has gained 45% during the last 30 days and year-to-date, NEAR is up 133.3% against the U.S. dollar. In terms of decentralized finance (defi), the Near protocol has roughly seven defi projects and today, there’s $344.4 million total value locked among them. Bitgo details that adding near protocol (NEAR) to the company’s roster makes it just shy of 600 crypto tokens supported by the company. Bitgo believes the token diversity underscores “the growing interest among institutions for access to high-speed, complex blockchains and their native tokens.”
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Categories: trade signal

Binance CEO Meets Senegalese and Ivory Coast Presidents, Says ‘Africa Is Primed for Crypto Adoption’

08 Jul
0 195 Post by
Changpeng Zhao, the CEO of cryptocurrency exchange Binance, tweeted that he recently held meetings with the presidents of Senegal and Ivory Coast. The meetings are part of his initiative which is aimed at driving up the adoption of cryptocurrency in Africa and beyond. CZ’s Meeting With the Senegalese President The CEO of Binance, Changpeng Zhao (CZ), tweeted on July 6 that he’d met Senegalese president Macky Sall and the central bank. However, CZ neither shares details of the meeting nor does he identify officials from the central bank that were present at the meeting. Still, in the same Twitter thread, CZ spoke of how he and President Sall had exchanged gifts. He said: In Sénégal, meeting HE Mr President, Central Bank, and Binance Angels. Mr. President gave us a beautiful painting from a local artist, I haven’t opened it yet. Will share a photo later in this thread. We gave him a BNB challenger coin (much lower value ) he was holding in the pic. Zhao’s tweet about his meetings in Senegal came just a few hours after Binance Africa shared pictures of CZ attending another meeting in Ivory Coast. The Palace of the Presidency of the Republic of Ivory Coast also released a statement which summarized the discussions between President Alassane Ouattara and Zhao. The Financial Inclusion Cause Before sharing details and pictures of his meetings with the two Presidents, CZ explained in another tweet why the African continent, where millions of people are still financially excluded, is “primed for crypto adoption.” “Africa is primed for crypto adoption. 10-20% banked. Need financial access and inclusion. Blockchain provides that with a smartphone,” CZ tweeted. CZ, who has also held talks with the leaders of El Salvador and Kazakhstan, claimed in another tweet that he is “working on adoption all around the world.” While a majority of his Twitter followers commended CZ for his efforts, one Twitter user named e-king questioned the CEO’s belief that Africa is now ready for adoption. “Do you really think the unbanked in Africa have access to smartphones and the internet?” the user asked. TAGS IN THIS STORY Africa crypto adoption, Binance, bnb, Changpeng Zhao (CZ), Cryptocurrency Exchange, financial inclusion, President Alassane Ouattara, Senegalese President Macky Sall What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.
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Categories: News

US Treasury Secretary Yellen Warns Crypto Is ‘Very Risky’ — Unsuitable for Most Retirement Savers

12 Jun
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U.S. Treasury Secretary Janet Yellen warns crypto is a “very risky investment,” adding that she would not recommend it to most people who are saving for retirement. However, Yellen noted that Congress could restrict the type of investments allowed in retirement accounts, including 401(k) plans. Janet Yellen on Investing in Cryptocurrencies for Retirement The topic of whether Americans should be able to put retirement savings in cryptocurrencies continues to be hotly debated. U.S. Treasury Secretary Janet Yellen was asked Thursday at an event organized by the New York Times about Fidelity’s announcement to allow bitcoin as an investment option in 401(k) plans. Yellen replied: It’s not something that I would recommend to most people who are saving for their retirement … To me it’s very risky investment. Fidelity’s announcement followed a guidance issued by the Labor Department (DOL) warning 401(k) plan administrators about allowing cryptocurrencies in retirement plans. Fidelity is one of the biggest 401(k) plan administrators. Ali Khawar, Acting Assistant Secretary of the DOL’s Employee Benefits Security Administration, said the Labor Department has “grave concerns with what Fidelity has done.” He stressed, “cryptocurrencies can present serious risks to retirement savings.” Treasury Secretary Yellen also noted Thursday that Congress could regulate what assets could be included in retirement plans like 401(k). Commenting on whether Congress should take action, Yellen clarified: I’m not saying I recommend it, but that to my mind would be a reasonable thing. The Labor Department’s efforts to restrict Americans from putting crypto in retirement accounts have upset some lawmakers. In response, U.S. Senator Tommy Tuberville (R-AL) introduced the Financial Freedom Act to prohibit the DOL “from issuing a regulation or guidance that limits the type of investments that self-directed 401(k) account investors can choose through a brokerage window.” Furthermore, the Labor Department has been sued over its crypto guidance.
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Categories: News

World Bank Warns of Global Recession, Stagflation — ‘This Is the Sharpest Slowdown in 80 Years’

09 Jun
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The World Bank has warned of a possible global recession. “For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “This is the sharpest slowdown in 80 years.” World Bank on Global Recession, Stagflation The World Bank warned about the rising risk of stagflation and global recession Tuesday. World Bank President David Malpass said: The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions. Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality,” he explained. The World Bank president clarified on Bloomberg Tuesday that we are not in a global recession yet. However, “The downside risk is that it could be a global recession,” he opined. “One of the key variables is whether supply comes back online in order to add growth and slow down the inflation rate,” Malpass continued. He emphasized: This is the sharpest slowdown in 80 years. “That’s from the 2021 rate which was high because of the recovery from Covid to what we are looking at now, 2.9%, in 2022,” he detailed. “That’s a very sharp slowdown and it’s really hitting the poorer countries hard.” In a report issued Tuesday, the Bank described: “Global growth is expected to slump from 5.7% in 2021 to 2.9% in 2022 — significantly lower than 4.1% that was anticipated in January.” The Bank also warned about stagflation, stating that the danger of stagflation is considerable. In addition, inflation and slow growth may persist for years, the World Bank noted. Commenting on the Bank’s stagflation warning, Malpass stressed: It’s global but it particularly hits the developing countries. “There’s a lot of inequality in the world so the advanced economies and particularly the people at the top in the advanced economies have done very well over the last decade,” he noted. Malpass elaborated: “The reason that this is a prolonged risk for the world is that we are coming off of a very exceptionally low period of interest rates. Last year, I called it uncharted territory on both fiscal policy … and monetary policy.”  
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Categories: News

FTX Founder Sam Bankman-Fried Thinks Bitcoin Has No Future as a Payments Network

18 May
0 219 Post by
Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, has given his take regarding the future of Bitcoin’s usage. Bankman-Fried stated he doesn’t believe that Bitcoin will work as a payments network, due to its limited capability for scaling to fulfill this task. However, he believes it might become “an asset, a commodity, and a store of value.” Sam Banksman-Fried on Bitcoin as a Payments Network FTX founder Sam Bank man-Fried has given his opinion about where bitcoin is going and the real value of its structure in the future. In an interview published by the Financial Times, Banksman-Fried criticized the implementation of Bitcoin as a payments network. To him, the Bitcoin block chain system will never work as a day-to-day payments system for several reasons. A perceived lack of scalability of the Bitcoin block chain is one of them, and the second reason presented by the executive has to do with the energy and environmental implications of this hypothetical growth compared to other alternatives. To Banksman-Fried, bitcoin for payments is akin to gold, in that it would be impractical to use. He stated: "Why don’t we go to a store and pay with physical gold bars? First of all, it would be ridiculous and absurd. It would be unbelievably expensive. And I’m sure it’d be bad for the climate." He also declared that proof-of-stake (PoS) networks would be more efficient to complete these tasks, explaining: "Things that you’re doing millions of transactions a second with (will) have to be extremely efficient and lightweight and lower energy cost. Proof of stake networks are." Banksman-Fried believes that Bitcoin has other unique properties that make it good as “an asset, a commodity, and a store of value.” Differing Opinions However, some views differ from Bankman-Fried’s opinions. The inception of the Bitcoin Lightning Network (LN), the second layer (L2) expansion protocol for Bitcoin that proposes very low transaction costs, might be a solution to the scaling problems that first-generation block chains like Bitcoin face when congested. This is the opinion of Paolo Ardoino, CTO of Bitfinex, who believes Lightning has the potential to turn Bitcoin into a feasible payment rail. He stated: "Bitcoin’s Lightning Network is quietly emerging to make manifest Satoshi Nakamoto’s prophecy of a decentralized, peer-to-peer payment network. A case in point is El Salvador where the country’s adoption of bitcoin as legal tender has made the nation a laboratory for Lightning usage with global corporations integrating the technology." David Marcus, former crypto chief at Meta, recently launched Lightspark, a VC-backed company that will explore the capabilities of the Lightning Network for payments. The protocol, which was proposed in 2015, has still not managed to gain mainstream support, and it sits at number 32 on the list of decentralized protocols with the most value locked, according to Defi Pulse, a decentralized finance index. what your opinion should bitcoin have good future as payment solution or not let us know your opinion send it here admin@bexdeal.com and have chance to win some Bitcoin mining contracts
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Categories: Advice, News

Luna Foundation Guard Discloses Usage of Bitcoin Reserves

17 May
0 226 Post by
The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while another part was traded on different dates to try and stabilize the value of UST. The reserve was comprised of more than 80,000 BTC. Luna Foundation Guard Clarifies Reserve Movements The Luna Foundation Guard (LFG), the organization tasked with safeguarding the dollar peg of UST, the algorithmic stablecoin of the Terra ecosystem, has broken its silence to explain the use of the assets it had under its custody. The institution had amassed more than 80K BTC, which was to be used in case of market imbalances affecting the value of terrausd (UST). According to reports on social media, the foundation spent almost all of its BTC reserves in a failed attempt to save UST. This was made in three different operations. In the first one, LFG sold 26,281,671 USDT & 23,555,590 USDC for an aggregate of 50,200,071 UST, in what was the first defensive transaction against the depeg incident. Also, the LFG stated it: Transferred 52,189 BTC to trade with a counterparty, net of an excess of 5,313 BTC that they have returned, for an aggregate of 1,515,689,462 $UST. However, the company did not identify the counterparty involved in this transaction. Last Measures Even with the intervention of the LFG, the peg was not restored. LFG declares that Terraform Labs exchanged the last of the BTC reserve on May 10, when UST’s market price had touched $0.75. This transaction involved the sale of 33,206 BTC for an aggregate of 1,164,018,521 UST. The Luna reserve is now comprised of only 313 BTC, meaning that most of the BTC owned by the organization were deployed in the defense effort. Other cryptocurrencies in the reserve, including 39,914 BNB and 1,973,554 AVAX were not used and still are in the possession of the organization. However, there is no clear answer as to how these will be used in the future. The statements from LFG help to clarify how the Terra depeg incident happened, and how these funds were used. An analysis of the transactions conducted earlier by Elliptic, a blockchain analytics and compliance company, found that the majority of the funds were sent to two exchanges: Binance and Gemini. However, the company declared that it was “not possible to trace the assets further or identify whether they were sold to support the UST price.” TAGS IN THIS STORY did you still believe in recover send to your admin your opinion at admin@bexdeal.com
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