After a hotter-than-expected U.S. price report last Thursday, the broader crypto market shed nearly $8.08 billion in value, reports data from Coingecko. Several tokens were hit harder than others amid the chaos. Gaming-related cryptocurrencies including Axie Infinity (AXS), Chiliz (CHZ), and Apecoin (APE) have posted substantial losses of at least 8% over the past week. AXS, the token powering the…
Kraken is the latest cryptocurrency exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union. On Oct. 19, Kraken sent out email statements to its Russian clients to announce that the exchange is halting services to its Russian customers. “Due to the new European legislation, we have to take measures to restrict…
Bitcoin (BTC) worth over $600 million moved for the first time since the last bear market on Oct. 18, analysis has revealed. In a Twitter thread, monitoring resource Whalemap flagged a transaction involving 32,000 BTC. Buyer could be “willing to acquire” 32,000 BTC at $19,000 In the latest sign that current spot price is affecting the behavior of even longer-term…
Some cryptocurrency exchanges continue onboarding Russian nationals despite the latest Western sanctions against Russia, but not without certain restrictions. In late September, Kazakhstan’s President Kassym-Jomart Tokayev witnessed the nation’s first regulated fiat-to-crypto purchase by a local commercial bank, the Eurasian Bank. The transaction involved a local crypto exchange called Intebix, which allows retail clients to buy crypto with the local…
According to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license. Declaration Applicable to Any Digital Representation of Value Not Issued…
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. Liquidity Is In The Driver Seat By far, one of the most important factors in any market is liquidity — which…
Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin (BTC) in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter. The company’s Q3 report released Oct. 19 shows $218 million worth of “digital assets” remains on its balance sheet, with no reported losses in the value of its…
Fidelity Digital Assets, the crypto wing of $4.5 trillion asset manager Fidelity Investments, is set to offer Ether (ETH) custody and trading services to its institutional clients later this month. According to an email to Fidelity’s customers shared on Twitter, the crypto arm announced new “Institutional Ethereum capabilities” for institutional investors starting on Oct. 28, 2022. Fidelity Digital Assets just sent…
Customers of bankrupt crypto lender Voyager Digital may be able to recover 72% of the value of their accounts under a tentative deal with FTX US, according to court documents. However, United States bankruptcy judge Michael Wiles during a court hearing said the tentative sale would not be final until it receives the approval of Voyager’s creditors and he approves the…
Relai partnered with Checkout.com to enable 24/7 bitcoin purchases. Users can pay for bitcoin with Visa, Mastercard and Apple Pay. Relai is also expanding its UX and making the buy-flow easier to use. Relai, a Swiss-based bitcoin app, has partnered with Checkout.com enabling 24/7 bitcoin purchases in Europe through user-owned wallets, per a release sent to Bitcoin Magazine. “At a…
