According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176 million) worth of assets have
Singapore government-owned megabank DBS is among the few companies around the world that reaped major benefits from massive cryptocurrency collapses in 2022. DBS Digital Exchange, DBS Bank’s institutional crypto trading platform, saw a significant increase in Bitcoin (BTC) trading volumes last year. According to DBS Digital Exchange CEO Lionel Lim, the number of DBS crypto
Ethereum layer-2 blockchain Arbitrum will distribute ETH (ETH) tokens worth nearly $6.2 million to its decentralized autonomous organization (DAO), the project announced May 9 on Twitter. ARB holders must claim the rewards. The funds to be collected are base fees and surplus revenue generated from network transactions. According to Arbitrum’s tweet, a total of 3,352 ETH will
The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations and harmonized rules at the EU level. MiCA may ultimately stifle innovation, impose a one-size-fits-all approach to regulation
Bitcoin (BTC) ticked higher around the May 10 Wall Street open as United States inflation data beat expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Markets eye June Fed rate hike pause Data from Cointelegraph Markets Pro and TradingView showed BTC/USD responding instantly to the April Consumer Price Index (CPI) print, up 1.7% on the
Will Clemente III has 680,200 followers on Twitter thanks to his viral crypto analysis content. He co-founded blockchain research firm Reflexivity Research with Anthony “Pomp” Pompliano while still a teenager. Who is this guy anyway? Will Clemente III is still only 21 years old, but his keen insights into the industry mean he’s followed by
The United States consumer price index rose 4.9% annually, which was slightly less than estimates of a 5% increase. The CPI’s monthly rise of 0.4% in April was in line with expectations. Although inflation remains stubbornly higher than the Federal Reserve’s 2% target range, traders will take comfort from the slower pace of increase. That
Authorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years, local media reported. Despite the government’s crackdown, illegal crypto mining continues to account for a serious amount of energy consumption, official figures suggest. Illegal Crypto Miners in Iran Steal 1.8 Billion kWh of Electricity, Official Says
In today’s The Market Report episode, analyst and writer Marcel Pechman discusses why crypto prices are going down after Bitcoin (BTC) failed to break above $29,000, plus whether or not Jerome Powell is lying about keeping interest rates above 5%, and lastly, what Warren Buffett meant by the “incredible period” coming to an end. The
After a brief overshoot above $2,000 on May 6, the Ether price has returned to a tight range between $1,820 and $1,950, which has been the norm for the past three weeks. According to the latest Ether (ETH) futures and options data, odds favor the Ether price breaking below the $1,820 support, as professional traders have
Some members of the United States House of Representatives’ Financial Services and Agriculture Committees pointed to crypto asset frameworks being employed outside the country when discussing regulatory gaps at home. In a May 10 joint hearing on the future of digital asset regulation, some lawmakers pointed to the European Union’s Markets in Crypto Assets framework
Bitcoin was hovering close to a key price floor near $27,300 on Wednesday, as markets anticipated the upcoming U.S. inflation report. Consumer prices for last month are expected to remain at 5%, which could be seen as justifying the Federal Reserve’s decision to hike rates last week. Ethereum remained above $1,800. Bitcoin Bitcoin (BTC) continued
Increased fees and a backlog of transactions are besieging the Bitcoin (BTC) network and it’s due to a popular new “token” standard according to a CryptoQuant analyst. On May 9, Axel Adler Jr, an analyst with the crypto data firm, explained that BRC-20 memecoin minting on the BTC blockchain is causing the surge in block
Validators earned $46 million in the first week of May due to an increase in the staking rewards rate, which is a metric for validators’ annualized yield. According to data, validators earned 24,997 Ether (ETH) in the week, representing a 40% increase over the previous week’s income of $33 million, when 18,339 ETH were distributed
United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist. Cutting such loopholes would save about $18 billion, according to Biden. However, the president
Bitcoin (BTC) tracked $27,500 on May 10 as markets geared up for what should be a positive United States inflation print. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI set for months of decline Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered in a narrow trading range ahead of the April
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