The International Monetary Fund (IMF), on Tuesday, said that it is making progress toward reaching a consensus with El Salvador, advocating ways to mitigate Bitcoin (BTC) risks. According to an official statement, IMF’s discussions with the Salvadoran authorities include policies to strengthen the nation’s fiscal outlook. The policies would be supported by an IMF program,...
The Russian Senate has approved a draft law on crypto mining, meaning the landmark bill will now pass into law, pending the signature of President Vladimir Putin. However, while some Russian Bitcoin (BTC) miners have welcomed the news, others are unsure about the development. Russian Senate OKs Crypto Mining Bill – What Happens Next? Per...
The South Korean city of Ansan has announced that it will confiscate crypto from tax dodgers who fail to pay local levies. Per Newsis, government leaders in Ansan, Gyeonggi Province, said on August 2 that it would start using a “virtual asset platform seizure system” to “recover unpaid local taxes.” The city will roll out...
Police in Australia, in collaboration with blockchain analytics firm Chainalysis, have uncovered a massive crypto scam targeting Australian citizens. Over 2,000 compromised digital wallets were identified as part of their worldwide operation to combat cryptocurrency fraud. The collaborative effort focused on dismantling a global criminal network that employed a sophisticated phishing tactic to defraud victims...
Coinbase International Exchange finished July with a monthly perpetual futures trading volume exceeding $38b, data released Monday showed. This amount marks the highest trading volume since initial records began in May 2024. The 24-hour trading volume for Ether perpetual futures reached $1.5b, surpassing Bitcoin’s $1.3 billion. Meanwhile, the total open interest for Ether futures perpetual...
The cryptocurrency market has experienced a massive drawdown. A report from QCP Group, a prominent Singaporean digital asset trading firm, directly links the crash to aggressive selling by Jump Trading. This sell-off has sent shockwaves through the crypto ecosystem, causing major digital assets like Bitcoin and Ethereum to suffer double-digit losses. Jump Trading’s Massive Ethereum...
A wave of panic swept through financial markets on Monday as both cryptocurrency and traditional assets experienced significant drops. This left investors grappling with uncertainty and caused service disruptions at major brokerage firms. Downdetector, a platform that tracks service outages, reported a surge in complaints from Fidelity and Vanguard customers on Monday morning. Over 2,800...
Gene Sperling, a former Ripple board member, has joined Kamala Harris’ 2024 presidential campaign team. According to a White House announcement and a report by AP, Sperling’s move comes after his role in managing Biden’s $1.9 trillion pandemic aid package and his work as a liaison during the auto strikes. Gene Sperling to Bring Crypto...
Trading volumes for Bitcoin exchange-traded funds (Bitcoin ETF) surged past $1 billion on August 5 amid a pronounced cryptocurrency market downturn, triggering heightened trading activity across digital assets. According to Alex Thorn, head of research at asset manager Galaxy Digital, the “extremely elevated” trading volumes following the market drawdown were particularly pronounced in Bitcoin ETFs....
Nansen’s latest report examines the massive sell-off of crypto assets during Crypto Black Monday, highlighting key factors driving the downturn. At the time of writing, all the top cryptocurrencies ranked by market capitalization have encountered a deep decline within the past 24 hours except the stablecoin Tether (USDT), based on statistics provided by CoinMarketCap. According...