Bitcoin (BTC) mining companies have suffered in 2022 due to the crypto bear market. Nonetheless, their stocks collectively saw a sharp rebound on July 6, raising hopes that investors have started to buy the dips. One of the intraday winners was Bitfarms (TSE: BITF), which surged by over 24% to close at $1.29. Similarly, Marathon Digital
Porter Finance, a decentralized finance, or DeFi, protocol based on the Ethereum (ETH) blockchain, announced Tuesday that it was shutting down its bond issuance platform. In explaining the discussion, Porter Finance said: “Looking forward, we are not confident there will be large inflows of lending demand for fixed income DeFi products like the ones offered
The cryptocurrency market has experienced a turbulent period as of late, with several firms filing for bankruptcy or shutting down. Voyager Digital announced its bankruptcy on Wednesday, becoming the second crypto lender to default following Three Arrows Capital. In the light of present market circumstances, Circle has sought to reaffirm its commitment to openness and user security
Despite the Chinese government banning all kinds of cryptocurrency transactions last year, some firms apparently still use stablecoins like Tether (USDT) to pay their employees. Beijing’s Chaoyang District People’s Court has ruled that stablecoins like USDT cannot be used for salary payments, the local news agency Beijing Daily reported on July 6. The Chinese court
As crypto winter sets in once more, industry players in Australia, one of the world’s most crypto-friendly nations, watch closely for a shift in the regulatory climate. Anthony Albanese, the new Australian Labor Party prime minister, has made regulating crypto a top priority. However, neither he nor his cabinet has given a clear indication of
Bitcoin (BTC) approached the July 6 Wall Street open near $20,000 as a fresh battle between support and resistance loomed. Whale levels close by Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wedged in a tight trading range with liquidity creeping closer to spot on the day. After recovering 6% losses from the day
Despite some touting crypto as a hedge against traditional markets, digital assets today share a similar risk profile to commodities such as oil and gas, and tech and pharmaceutical stocks, according to analysis from Coinbase’s chief economist. The observation comes from a blog post from Coinbase chief economist Cesare Fracassi on July 6, noting that
The implications of what anti-crypto regulations can do to a thriving economy can be seen first-hand unfolding in India. Supporting the massive decline in trading volumes across all Indian crypto exchanges, a report from WazirX reveals a change in investor sentiment as the Indian government imposed its second crypto law — a 1% tax deduction
In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity. India’s Worsening Trade Deficit Faced
Ethereum (ETH) climbed about 10 percent in the past 24 hours to $1,155, after coming close to falling back under $1,000. The world’s second-biggest cryptocurrency has experienced a robust comeback in a short span of time, with buying activity over the U.S. market holiday bolstering prices. But, can ETH sustain this rally? Or, will it be
A new strain of crypto-malware is being spread via YouTube, tricking users to download software that’s designed to steal data from 30 crypto wallets and crypto-browser extensions. Cyber intelligence company Cyble in a June 30 blog post said it had been tracking the malware known as “PennyWise” — likely named after the monster in Stephen
United States-based cryptocurrency mining firm Core Scientific sold more than 7,000 Bitcoin in June to pay for servers, increase its data capacity, and settle debts. In a Tuesday announcement, Core Scientific said it had sold roughly $167 million worth of Bitcoin (BTC) in June at an average price of $23,000 — 7,202 BTC. The sale
The domino effect of the 2022 bear market, which saw the downfall of numerous crypto ecosystems and tokens over several months, caught up to GARI token as it tanked over 83% in value in a matter of hours on June 4. While GARI Network brushed off the development as a “market event,” investors suspect a
UK regulator the Financial Conduct Authority (FCA) has recruited almost 500 additional staff members this year as part of its new three-year strategy. Among the new hires are six directors, whose appointments were announced July 5. Two of them come from backgrounds in policing. Director of payments and digital assets is newly created position that
The cryptocurrency market along with the tech-heavy Nasdaq saw a bit of positive price action on July 5 amid a backdrop of rising recession concerns in the United States. Data from Cointelegraph Markets Pro and TradingView shows that an early morning onslaught by bears managed to drop Bitcoin (BTC) to a daily low of $19,309
Bitcoin (BTC) hit daily lows on the July 5 Wall Street open as the U.S. dollar saw a violent surge higher. USD sets yet another 20-year record Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retreating to $19,281 on Bitstamp as the Independence Day long weekend concluded with a bump. The pair had seen last-minute
Major cryptocurrency exchange BitMEX is working to increase compliance with the European sanctions against Russia by preparing to enforce major restrictions for its Russian users. BitMEX is changing its restricted jurisdictions policy to be compliant with various restrictive measures of the European Union, Cointelegraph has learned. The BitMEX crypto exchange notified a group of potentially
sponsored ZOGI Labs Ltd. reveals shocking whitepaper detailing next-level blockchain gaming mechanics never seen before in the industry. Eliminating core industry issues like token inflation, the team has formulated proprietary formulas that algorithmically balance a sustainable gaming economy inside Legends of Bezogia. Featuring next generation graphics, a rich and deep storyline along with playable NFTs,
The growth of Circle’s native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular. USDT, USDC market cap ratio hits the lowest on record Notably, USDC’s market capitalization has grown by 8.27% since May, reaching its highest level of $55.9 billion on
Bitcoin (BTC) starts a new week still in holiday mode with United States financial markets off for Independence Day. The largest cryptocurrency, stuck below the increasingly daunting $20,000 mark, continues to feel the pressure from the macro environment as talk of lower levels remains omnipresent. After a quiet weekend, hodlers find themselves stuck in a