Nearly 4,000 Australians reported using Bitcoin and other cryptocurrencies as a payment method to transfer funds to scammers in 2022, marking a significant increase of 162.4% compared to 2021. These crypto transfers resulted in criminals obtaining as much as $148.4 million (AU$221.3 million), according to the latest report by the Australian Competition and Consumer Commission (ACCC). To put that in…
A peer-to-peer (P2P) cryptocurrency exchange is an online marketplace that connects buyers and sellers of cryptocurrencies like Bitcoin (BTC). The platform enables them to conduct direct business with one another without the need for intermediaries. When purchasing cryptocurrency on a P2P exchange, a buyer transfers the agreed-upon amount from their account to the seller. The payment is not made between…
Programming languages like Solidity, which is used to build smart contracts on the Ethereum blockchain network, are frequently used in blockchain development. Ganache helps developers test and debug their applications before deploying them on a live blockchain network. Also, developers must be well-versed in blockchain technology, including its underlying architecture and concepts like consensus algorithms, cryptography and decentralized governance. This…
Bitcoin started the week trading below $30,000, as the U.S. dollar strengthened during Monday’s session. USD/JPY rose to a one-month high, with the greenback also gaining against the euro and British pound. Ethereum was also lower, falling below $2,100. Bitcoin Bitcoin (BTC) dropped below the $30,000 mark on Monday, as a strong U.S. dollar weakened cryptocurrency markets. BTC/USD fell to…
The Kingdom of Bhutan’s sovereign investment arm estimated to manage around $2.9 billion in assets has placed millions of dollars in cryptocurrencies and was a customer of bankrupt crypto firms BlockFi and Celsius. Druk Holding and Investments (DHI), a commercial arm of the royal government of Bhutan, has grown a crypto portfolio without disclosing it to the public according to…
According to Quaison Carter, the co-founder and CMO of the location-based NFT platform Lostworlds, non-fungible tokens (NFTs) are still not widely used due to what he called “user friction.” Carter, however, insists that the value of NFTs will persist for “as long as there are communities willing to use them.” The Role Played by PFP Communities Concerning the process of…
Another day, another Wells notice. The SEC has reportedly notified Bittrex of a potential enforcement action alleging that the firm was acting as an exchange, broker-dealer, and clearinghouse without registering with the regulator. Back in March, SEC’s enforcement division reportedly informed Bittrex about the potential enforcement action—known as a Wells notice. But, this news came after the crypto firm had…
Hong Kong’s push to become a crypto hub has opened an opportunity for not just crypto companies but many state-affiliated banks in China as well. The Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong, despite a blanket bank on crypto-related activities in mainland China. The Hong Kong arm of Bank of Communications,…
Shaquille O’Neal has finally been served papers in a lawsuit over his role in promoting FTX after lawyers accused the former basketball star of hiding from them. Alongside fellow high-profile endorsers such as Tom Brady and Larry David, O’Neal was named as a defendant in the suit filed last November in a Florida federal district court. It alleges that the…
In brief Rollups are a scaling solution that can lower transaction costs and increase throughput on a blockchain protocol. Rollups are a popular Layer-2 scaling solution for Ethereum. A zkEVM is a new type of zk-Rollup that is EVM compatible. The first two zkEVM options were released in March 2023. More zkEVM alternatives are in development (at the time of…
