Browsing:Crypto

Orderly Network secures funding from India’s CoinDCX Ventures
1 year ago 3 mins read

Orderly Network secures funding from India’s CoinDCX Ventures

Nassau, Bahamas, 28th March, 2023 Orderly powering the next phase of evolution in the DeFi/DEX space  Orderly Network, a permissionless, decentralized trading infrastructure, has raised funds from CoinDCX Ventures, the investment arm of India’s leading and most valued crypto company, CoinDCX. Speaking on the investment, Arjun Arora, COO, Orderly Network, said, “We are thrilled to have India’s leading crypto exchange as an investor in Orderly. Decentralized Finance (DeFi) is rapidly evolving and Orderly Network strives to fulfill the needs of institutional clients by providing infallible access to digital assets.” He further added, “Orderly Network is primed to supercharge a spot and

Venezuela Makes Major Arrests in Connection to Oil Corruption and Cryptocurrency
1 year ago 1 min read

Venezuela Arrests 21 Individuals for Involvement in Cryptocurrency-Linked Oil Corruption Scheme

On March 24, 2023, Venezuelan prosecutors arrested 21 individuals, including businessmen and government officials, for their alleged involvement in a massive crypto-related corruption scheme within the state oil company, PDVSA. The scheme was investigated by the government starting in October 2022 and focused on PDVSA, the judiciary, and the country’s crypto watchdog, Sunacrip. Attorney General Tarek Saab called the scheme “one of the most lurid plots in recent years” and accused officials, businessmen, and young people, including so-called “mafia women,” of participating in corruption and money laundering. Saab did not provide details about the company names or the exact scope

around 51,000 Ether worth over $89 million was sent from the Euler Finance hacker's address back
1 year ago 2 mins read

Hacker Returns Portion of Stolen Funds to Euler Finance

The Euler Finance exploit has been making headlines for the past few weeks, with each passing day bringing more drama to the biggest decentralized finance hack of 2023. However, there is some good news as more than 50% of the stolen funds have been returned as per the latest update. On 25 March, around 51,000 Ether worth over $89 million was sent from the Euler Finance hacker’s address back to the deployer address, and a second transfer of 7737 ETH, equating to about $13 million, was carried out by the exploiter hours later. This news is a significant relief to

The G7 nations are taking steps to address concerns over the lack of regulation in the cryptocurrency industry.
1 year ago 2 mins read

G7 Leaders Demand More Oversight of Cryptocurrency Trading

The G7 is taking steps to address concerns over the lack of regulation in the cryptocurrency industry. According to reports, the G7 is planning to promote tougher regulations of the crypto sector during the 49th G7 summit, which is scheduled to take place in Hiroshima, Japan, in May 2023. The goal of this plan is to increase transparency and consumer protections. The move comes in response to concerns about the potential risks that crypto assets pose to the global financial system. The collapse of FTX, a major cryptocurrency exchange in November, exposed the poor governance of the industry and sent

Senator Ted Cruz has proposed legislation to prohibit the Federal Reserve from creating a
1 year ago 1 min read

Senator Ted Cruz Introduces Legislation to Halt Federal Reserve’s CBDC Agenda

Texas Senator Ted Cruz has proposed legislation to prohibit the Federal Reserve from creating a central bank digital currency (CBDC) for consumer use. The proposed bill aims to protect financial privacy by limiting the government’s capacity to track individual transactions, according to Cruz and his supporters. The bill’s introduction comes as a response to concerns raised by Cruz and others about CBDCs. The legislation is designed to ensure that U.S. digital currency policies prioritize financial privacy, encourage innovation, and maintain the dominance of the U.S. dollar. According to Cruz, CBDCs pose a risk of centralizing Americans’ financial information and making

Indian woman loses $30k to scammer on dating site
1 year ago 1 min read

Romance Turns to Crypto Disaster for Mumbai Woman: Scammed out of $30K by Matrimonial Site Match

A 60-year-old Indian woman recently fell victim to a crypto investment scam and lost nearly $30,000. The woman, who had registered on a matrimonial site to look for a life partner, was approached by a man who claimed to be a US-based engineer. He promised her quick profits through bitcoin investments. The woman invested nearly $30,000 in cryptocurrencies through a person who was introduced to her by the con man. When she asked to withdraw her money, she was told she needed to pay a currency conversion fee and taxes equivalent to $15,000. The duo stopped communicating, and her virtual

Arbitrum (ARB)
1 year ago 1 min read

Arbitrum Airdrop Buzz Interrupted by Discord Hacker’s Malicious Intent

Arbitrum (ARB) investors were recently put on high alert by the crypto community following reports of a possible phishing scam that had made its way into the official Arbitrum Discord server. Unfortunately, the warnings proved accurate as hackers managed to drop a phishing link into the server. On March 25, blockchain security firm CetriK warned of a potential phishing link being circulated via the Arbitrum Discord server. It is suspected that one of Arbitrum’s developers had their Discord account hacked, which was then used to share a fake announcement containing the phishing link. The phishing message offered investors “the opportunity

Cathie Wood's Ark Invest
1 year ago 1 min read

ARK Invest bets big on Coinbase with $18M purchase during price decline

Cathie Wood’s Ark Invest recently purchased 268,928 Coinbase shares as the price of the cryptocurrency exchange’s shares tumbled following the Wells notice from the US Securities and Exchange Commission (SEC). The investment firm sold 160,887 Coinbase shares from its Fintech Innovation ETF before buying more shares through its ARK Innovation ETF and ARK Next Generation Internet ETF. Ark Invest spent $20.5 million to buy the shares, and by March 22, the value had spiked to close to $30 million. The firm sold 160,887 shares from the ARKF ETF for $13.5 million and acquired another 268,928 Coinbase shares worth $17.88 million

Binance users can now withdraw funds after resolution of spot trading bug
1 year ago 1 min read

Binance restores withdrawals after resolving bug that impacted spot trading

Binance, the largest crypto exchange in the world, faced a technical bug that disrupted spot trading, deposits, and withdrawals earlier today. The issue reportedly affected a trailing stop order and prompted the exchange to halt spot trading as part of its standard operating procedure. Binance users took to Twitter to raise the issue, following which the exchange disabled spot trading to work on the problem. CEO Changpeng Zhao confirmed that one of Binance’s matching engines had encountered the bug, but assured users that their funds were “SAFU.” During the outage, malicious elements spread FUD about the crypto exchange, claiming they

BitMEX Founder Arthur Hayes
1 year ago 1 min read

BitMEX Founder Arthur Hayes Predicts Bitcoin to Surge by Over 3,400%

Arthur Hayes, the co-founder of BitMEX, has predicted a massive rally for Bitcoin (BTC), with the cryptocurrency expected to hit $1 million in value. Hayes says the rally will be fueled by changes in Federal Reserve’s monetary policy, particularly interest rate cuts. Hayes believes that the rate cuts are inevitable, as U.S. Federal Reserve Chairman Jerome Powell will have to reduce rates to counter recessionary concerns. The move will inject more liquidity into the markets, and Bitcoin’s price has typically done well when more liquidity is available. In addition to the interest rate cuts, Hayes points to the Bank Term

Another Weekend of Turbulence Looms for European Banks as Default Risks Soar
1 year ago 2 mins read

European Banks Face Another Weekend of Instability as Default Risks Rise

European banks are bracing for another weekend of uncertainty as the cost of insuring against their potential default risk continues to rise. Shares of Deutsche Bank fell over 7% on the New York Stock Exchange on March 24 after a down day on Frankfurt’s markets. The German bank’s five-year credit default swaps (CDS) climbed 19 basis points from the previous day, closing at 222 bps, according to Reuters, citing S&P Global Market Intelligence data. Credit default swaps allow investors to swap or offset their credit risk with another investor, and are often used by lenders concerned about a borrower’s default

Binance has responded to these allegations
1 year ago 1 min read

Binance Launches In-House Investigation into KYC Bypass Allegations

Recent reports have surfaced alleging that employees and volunteers of Binance were assisting Chinese users on how to bypass Know Your Customer (KYC) and other security protocols. However, Binance has responded to these allegations, stating that it explicitly forbids employees from supporting users in circumventing any laws or policies. A spokesperson from Binance has clarified that the company is taking action following the allegations. They stated, “We have launched an investigation into employees who may have violated our internal policies including wrongly soliciting or making recommendations that are not allowed or in line with our standards.” The exchange has implemented

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