South Korean crypto exchange Gopax, which is backed by Digital Currency Group, is facing potential closure ahead of the country’s fast-approaching deadline for platforms to submit their requests for an official operating license.To be eligible for a license, all crypto exchanges must show evidence that they are operating using real-name accounts at South Korean banks. The catch is that domestic…
Category: News
Former chief of Russia’s Wex crypto exchange arrested in Poland
BBC Russia has reported that Dmitry Vasiliev, the former chief of Russian cryptocurrency exchange Wex, has been arrested in Warsaw, Poland.Wex, which was previously known as BTC-e, was a well-known “dark” exchange in the early days of the cryptocurrency industry. It is alleged to have laundered funds for numerous high-profile crypto hacks, including the notorious Mt. Gox incident.Although Vasiliev is…
Texas and New Jersey regulators go after Celsius Network
The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering securities licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency products. According to a Sept.…
Veteran trader explains when it’s the best time to cash out of the market
2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863, and the DeFi and NFT sector made headlines around the world. Crypto traders need to be wary of times like these because the notoriously volatile nature of the cryptocurrency market can see vast fortunes wiped out in…
Maverick Vitalik in Time Mag, Sept. 13–17
Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter. Despite Cardano founder Charles Hoskinson’s claim that the DeFi space is now “up for grabs,“ it was rival Vitalik Buterin who stole the headlines this week with a feature in Time Magazine. What you’re about to read is the smaller version of this newsletter designed for brevity. For…
BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA
Bitcoin’s (BTC) recovery is facing stiff resistance near $48,500, indicating that bears are active at higher levels. By combining the popular stock-to-flow Bitcoin price model and the illiquid supply data, analyst William Clemente projects $39,000 to act as a strong floor on any declines. On the upside, analysts remain bullish. Bloomberg Intelligence chief analyst Mike McGlone has maintained his target…
John Cena calls his own NFT sales a ‘catastrophic failure’
Professional wrestler and actor John Cena said fans only purchased 7.4% of his World Wrestling Entertainment, or WWE, nonfungible tokens (NFTs) that he made available last month. Speaking at Florida Supercon 2021 on Sept. 12, Cena said it was a mistake to market his WWE NFTs as part of a package with physical collectibles — a hat, shirt, wristbands, belt,…
Bitcoin is ‘playing mind games’ as its price coils into a tighter range
The general mood across the cryptocurrency market is one of anticipation on Sept. 17 as the price of Bitcoin has traded in an increasingly tighter range over the past couple of days and looks to be coiling in preparation for a move one way or another. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC)…
How smart contracts are shifting the crypto sector’s balance of power
One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory. During the…
El Salvador ranks third in global Bitcoin ATM installations, data finds
El Salvador now hosts the third-largest network of crypto ATMs after the United States and Canada, amounting to 70% of all crypto ATMs in South America. According to data from Coin ATM Radar, El Salvador has exceeded United Kingdom’s crypto ATM count after deploying 205 crypto ATMs to date to facilitate local Bitcoin transactions and BTC to U.S. dollar conversions. …