Category Archives: Cryptocurrency News

US Regulators Charge Four Creators of JetCoin Crypto Pyramid

The Commodity Futures Trading Commission and the US Department of Justice have charged four suspects with creating the JetCoin cryptocurrency pyramid and defrauding investors for a total of $44 million. The Commodity Futures Trading Commission (CFTC) accused three US citizens: Dwayne Golden, Gregory Aggesen and Marquis Egerton, as well as Indian citizen Jatin Patel of fraud and extortion. The agency claims that they organized cryptocurrency schemes called Empowercoin and Ecoinplus, with the help of which…

CedarFX – Trade with the First Eco-Conscious Broker

It’s not every day that you come across a broker with a vision to make a positive impact beyond the world of finance. CedarFX, however, is changing that perception. The leading online broker has recently launched a revolutionary Eco Account option to its traders, making it the first-ever Eco-conscious broker to exist! Through their various account options, CedarFX is dedicated to helping traders reach higher by offering ultra-high leverage and low spreads. Traders can get…

Fees in the Ethereum network fell to half-year lows

Ethereum blockchain data suggests that the average transaction fee has dropped significantly to $1.63. According to CryptoRank, the 7-day moving average of the transaction size on the Ethereum network reached $11.14 as of March 9, the lowest since August 2021. At the same time, at the beginning of this year, the figure reached $55. According to the Etherscan service, at the time of publication, a regular transaction with ETH costs 25 Gwei ($1.36). Recall that…

Jamaican authorities will distribute $16 to the first 100,000 digital Jamaican dollar users

The first 100,000 Jamaicans who install Central Bank of Jamaica cryptocurrency wallets will be rewarded in digital Jamaican dollars worth $16. This was announced by Jamaican Prime Minister Andrew Holness (Andrew Holness). In a recent speech before the House of Representatives, Jamaican Finance Minister Nigel Clarke said this would encourage individuals and businesses to use the government’s stablecoin to conduct transactions. According to the Jamaica Observer, approximately 17% of the Jamaican population is unbanked. Therefore,…

The European Union for the sake of tougher sanctions equated cryptocurrencies to securities

The European Union has officially announced that the sanctions imposed on the Russian Federation and the Republic of Belarus apply to cryptocurrencies. The EU leadership explains that cryptocurrencies are included in the category of “transferable securities”, therefore, they are clearly subject to sanctions imposed on Russia and Belarus. “Loans and credits can be provided by any means, including crypto-assets,” the EU said in a statement. The EU also announced an expansion of existing financial restrictions…

Dubai authorities approved the law on virtual assets

The emirate of Dubai has approved a law on virtual assets and formed an agency that will regulate the crypto industry. Sheikh Mohammed bin Rashid Al Maktoum announced this on Twitter. He emphasized that the introduction of the concept of virtual assets in the legislation will strengthen the position of Dubai in the emerging digital economy. The law represents an important step towards the development of the digital and cryptocurrency sector, as well as protecting…

China take steps to manage data security and curb speculation in the metaverses

The National People’s Congress has decided to introduce urgent measures to regulate the metaverse to manage data security and curb speculation as the industry develops. The tasks of introducing government supervision and regulation, managing data security, and curbing speculation in the metaverse were explored at the national level during the National People’s Congress in early March. The “Metaverses” have come under government scrutiny after telecommunications conglomerates Tencent, ByteDance, NetEase and Baidu have been active in…

Pantera and Polychain will invest $10 million in the high fashion industry for the metaverse

Space Runners has raised money to create a metaverse dedicated to the fashion industry. Startup Space Runners, created to develop the fashion industry in the metaverse, has raised $10 million in the first round of funding. The investment round was led by Pantera Capital and Polychain. Also participating in the round were Accel and Jump Crypto, as well as Animoca Brands Chairman Yat Siu and Twitch co-founder Justin Kahn. Space Runners made its name last…

Exploit Fix in Convex Finance Smart Contract Causes Mass Unlock of CVX Tokens

The Convex Finance team used a new smart contract to resolve the bug, resulting in the unlocking of millions of CVX tokens. The Convex Finance team warned users on Twitter on March 4 that it had reallocated the smart contracts responsible for the vote blocking management mechanism? after discovering a bug that would provide some users with disproportionate rewards. “There were no use cases [of the bug] prior to the deployment of the new vlCVX…

Adobe Behance will start supporting the Phantom wallet

The Behance designer platform will allow Solana blockchain users to showcase their NFTs. Popular among designers, social media platform Adobe Behance has announced that it will begin supporting the Phantom crypto wallet. The integration will allow Behance users to display non-fungible tokens created on the Solana blockchain in their profiles. Will Allen, VP of Product at Adobe, said in a tweet that the platform’s goal has always been to support creative people. With the help…