American cryptocurrency trader confessed to fraud for $ 5 million

Cryptocurrency News

Jeremy Spence, a 25-year-old US trader aka Coin Signals, has confessed to a cryptocurrency fraud. He faces up to 10 years in prison. According to the US Department of Justice, Jeremy Spence has declared his profitable trading in the cryptocurrency markets and lured investors with promises of large returns. However, in reality, Spence’s trade was not profitable and was unprofitable. Spence promised investors 148% per annum or more. And when, as a result of his…

Federal Reserve Bank of New York and BIS opened a center for creating and testing digital assets

Cryptocurrency News

The Federal Reserve Bank of New York and the Bank for International Settlements (BIS) have opened an innovation center to create and test new financial technologies. According to the press release, the New York Innovation Center (NYIC) will focus on the development of new financial technologies, including digital currencies of the Central Bank and stablecoins. NYIC is the result of a strategic partnership between the New York Fed and the Bank for International Settlements (BIS)…

Grayscale: Metaverse  Will Reach $ 1 Trillion In A Few Years

Cryptocurrency News

Grayscale estimates that the metaverse will reach $ 1 trillion in annual revenues over the next few years, and the sector will compete strongly with Web 2.0. Grayscale has published a report entitled “The Metaverse, Web 3.0 Virtual Cloud Economies”. The researchers emphasized that metaverse platforms that integrate cryptocurrencies, as well as decentralized finance (DeFi), non-fungible tokens (NFT) and decentralized cloud storage, are attracting more and more users looking for new experiences. After analyzing the…

GBV Capital CEO: “NFT and Bitcoin have similarities”

Cryptocurrency News

The head of the Hong Kong-based company GBV Capital for investments in development based on blockchain, Christian Ng, spoke about investments in collectible tokens. He believes that NFT and Bitcoin have a lot in common. In an interview with The Millennial Source, Christian Ng stated that the similarities between Bitcoin and NFT lie in creating a community that brings together people with similar views. He named Bitcoin as the first “NFT” to be issued in…

White hackers helped dYdX exchange secure $ 2 million in user deposits

Cryptocurrency News

Decentralized cryptocurrency exchange (DEX) dYdX warned users about the vulnerability of a smart contract launched on November 24. The bugs were found by a “white hacker”. dYdX announced on Twitter that users should withdraw assets from the exchange to their cryptocurrency wallets. “All users who have placed deposits since Wednesday 24 November are advised to withdraw their assets as soon as possible. Your money is not at risk, but must be returned back to your…

Powell’s reappointment as Fed chairman will have a beneficial effect on the cryptocurrency market

Cryptocurrency News

Most experts are confident that the reappointment of Jerome Powell as chairman of the Fed will allow the bulls to maintain their previous strategy of investing in cryptocurrencies. Mike Bailey, research director at FBB Capital Partners, believes that this decision will serve as a signal for traders who profit from the rally in the market to stick to the old investment strategy. “For die-hard crypto bulls, Powell’s reappointment could provide some stability as these investors…

European Council approved two proposals to regulate digital assets in the EU

Cryptocurrency News

The European Council will form a three-year mandate to negotiate with the European Parliament and work on creating a regulatory framework for the cryptoasset market. The European Union Cryptocurrency Regulation (MiCA) Bill is designed to protect investors and consumers from fraud. It provides guarantees that investors’ money will be safe in the event of a hack. If the authorities consider that specific virtual currency exchange platforms pose a threat, they can ban them in accordance…

Fidelity, UBS and State Street May Launch Cryptocurrency Products

Cryptocurrency News

Several large investment companies, including Fidelity, UBS and State Street Global Advisors, are exploring the possibility of launching cryptocurrency products. The Financial Times notes that the volume of cryptocurrency investment products in Europe is over 10 billion euros. The head of SPDR, a subsidiary of State Street Global Advisors for trading exchange-traded funds in the markets of Europe, the Middle East and Africa, Matteo Andreetto, said that the company is actively exploring the cryptocurrency space.…

Stripe Co-Founder Allows Cryptocurrency Payments to Come Back

Cryptocurrency News

John Collison, co-founder of American payment operator Stripe, said the company could re-add support for cryptocurrencies if they provide fast and cost-effective transactions. In 2014, Stripe became the first major payment company to integrate Bitcoin. However, in 2018, Stripe stopped processing BTC transactions, citing customers’ reluctance to use it. This was due to increased transaction confirmation times and high fees. As Stripe stated, for regular Bitcoin transactions, the commission can be several tens of US…

How to use proxies when participating in token presales

Cryptocurrency News

Buying tokens before listing them on exchanges is an opportunity to make a profit due to the growth in the price of a cryptoasset. The use of proxy servers increases the chances of purchasing tokens with upside potential. One of the ways to generate income in the cryptocurrency industry is to participate in token sales, pre-sales of cryptoassets of various projects before they appear on cryptocurrency exchanges and trading platforms. Project creators conduct a pre-sale…