Authorities in Russia have arrested a crypto entrepreneur associated with an unidentified cryptocurrency exchange who is suspected of embezzling funds and property. According to a media report, the detained person is one of the owners of Wex, successor of the infamous BTC-e exchange. Owner of Wex Exchange Apprehended in Russia Russian law enforcement agencies have […]

Canadian authorities have only managed to seize roughly 30% of the 20.7 Bitcoin donated to support the Freedom Convoy protest, which came to an end almost a month ago.

The post Canadian authorities struggling to seize Freedom Convoy donations appeared first on CryptoSlate.

A Canadian government employee thought to be involved in a series of crypto-related ransomware attacks has been extradited to the United States to face judgement. Sebastien Vachon-Desjardins – who worked as an IT consultant for Public Works and Government Services in Canada – is believed to have carried out attacks that led to approximately $28...

The post Sebastien Vachon-Desjardins to Face Trial in U.S. for Crypto Ransomware Scheme appeared first on Live Bitcoin News.

A Group of users have reported to have their accounts blockced by Binance for about five months. Now, they are taking the case to the courts.

A single user made $820K of ApeCoin during an airdrop via flashloan as we are reading further in today’s latest altcoin news. With the anticipation surging around BAYC’s launch of new tokens, a single user recieved more than 60,000 APE Tokens and netted almost $1 million, after paying of the flash loan and the fees […]

Next Earth, the NFT-based metaverse replica of Earth with over $10 million in sales of virtual real estate, has announced that it is now in staking development, following the discovery phase of staking. The staking project is expected to launch in June 2022. This means that users holding any virtual real estate on Next Earth…

The post Next Earth Soon to Launch Staking and Other Updates appeared first on Bitcoin News Miner.

Bitcoin could have a bigger role in the international board as superpowers compete for dominance over the financial system. The benchmark crypto has seen some relief in the last day, as the U.S. Federal Reserve (FED) tightens, and the shadow of war looms over Europe. Related Reading | Ethereum Spikes Above $2,700 After Fed Announcement, What Now? At the time of writing, Bitcoin trades at $40,700 with a 1% profit over the past day and a 3% loss in the past week. As Gold Rises, So Will Bitcoin… In a recent post from BitMEX Co-Founder Arthur Hayes, there is a prediction for Bitcoin for the coming years, and a declaration with potential implications for the whole world: the financial system supported by oil and dollars came to an end. Otherwise known as “Petrodollars”, the term describes the way our current financial ecosystem is supported by the exchange of the U.S. dollar for this commodity, the world’s main source of energy. Big oil producers accept this currency, almost exclusively, for their products. This gives the U.S. dollar a prime position in the financial system, contributing to its global reserve currency status. The Society for Worldwide Interbank Financial Telecommunications (SWIFT) is another major component of that system. For some, Bitcoin is a direct competitor and a threat to this status quo. In his essay, titled “Energy Cancelled”, Hayes claims the Petrodollar system came to an end. The invasion of Ukraine by the Russian army led to the imposition of sanctions from the international community to the Vladimir Putin-led country. Russian banks and a portion of the country’s fiat currency reserve were seized by the U.S. and European Union (EU). The weaponization of the U.S. dollars has led Russia and China, contesting the role of this currency on the global scene, to find alternatives and possibly push for a new financial system. 8/12 Now add in the news that Saudi Arabia is considering accepting #Yuan instead of Dollars for Chinese oil and you have an accelerator for more economic problems and market uncertainty. https://t.co/5by5PkH8Vf — Material Indicators (@MI_Algos) March 16, 2022 Hayes believes this new system is yet to be named but could potentially be supported by a “neutral” medium of exchanges, such as Gold. This would directly impact Bitcoin, Hayes said: A new neutral reserve asset, which I believe will be gold, will be used to facilitate global trade in energy and foodstuffs. From a philosophical standpoint, central banks and sovereigns appreciate the value of gold, but not that of Bitcoin (…). Bitcoin is less than two decades old. But don’t worry: as gold succeeds so will Bitcoin. Money Has Changed Forever, Why Bitcoin Will Benefit Later, Hayes breaks down the evolution of money and the network that supports money, from its physical to its digital phase. In the latter, individuals, entities, and small countries have money stored on centralized, permissioned networks, and can potentially be locked out of their wealth, if a bank or government decides to. In case the dominant countries on this network, the U.S. and E.U. or China for the current financial system, decide to block network access to a participant, questions about the status quo emerge. Russia’s recent sanctions, the essay claims, is a one-of-a-kind case in history. The digitalization of the monetary network has made it possible to “cancel”, to “shun”, the country at this scale. Hayes said: Money is a medium of energy storage, and the most-used monetary instruments now lack the largest energy producer globally as a user. Why should any central bank “save” in any Western fiat currency, when their savings can be expropriated arbitrarily and unilaterally by the operators of the digital fiat monetary networks? Data shared by Hayes estimates current savings in $12 trillion, most countries store these funds on a network controlled by a superpower. These funds will be moved, says Hayes, to a new network. Gold is the potentially direct benefactor, as mentioned, China and other countries could begin injecting buying pressure into the Gold spot market. Long Gold could be this decade’s most important trade. Wheat, grains, and other commodities could follow. Related Reading | FED Announcement Pushes Bitcoin Price Up, Will BTC Sustain Momentum? In the long term, Hayes expects Gold to reach $10,000 on the spot. The rise of the precious metal will spill into all hard money assets, Bitcoin included. The cryptocurrency could hit $1 million per coin, as Gold moves upward. Hayes added: (…) any and all hard monetary assets believed to protect portfolios from this pestilence will get bid to astronomical levels. And that is the mental shift that breaks the correlation of Bitcoin with traditional risk-on / off assets, such as US equities and nominal interest rates.

MoonPay CEO Ivan Soto-Wright will donate a personal NFT collection worth more than $1 million to charitable causes.

The post MoonPay’s CEO has a new plan for drumming up NFT hype: donating them appeared first on The Block.

Crypto assets saw some wild swings in the day and are now trading to the upside. Risky assets are reacting to the FED’s decision to raise rates by 25-basis points, and the increasing global adoption might be adding weight to the boost. Related Reading | Expectations Of Aggressive FED Drop, Here’s Why Bitcoin Could Rise To $50K What Hikes? Crypto Reacts To The FED The Federal Reserve just lifted rates 25 basis points, raising rates for the first time since 2018. Six more hikes are expected in 2022. The markets have been experiencing volatility following expectations for a more hawkish FED, given the implications of the Russo-Ukrainian war, rising U.S. inflation, and increasing Covid-19 cases. In the day, the crypto market had a downward reaction first, which experts described as a fake-out, then started to react to the upside. Experts expressed during a Fox Bussiness Live that the FED is lagging behind and this move will not affect the economy. They added that the FED is giving investors a plain field to do well in stocks, “not worrying about the U.S. economy.” Similarly, the light interest raise hikes are looking positive for bitcoin and consequently for other crypto-assets as well. Chair Jerome Powell claimed that “the probability of a recession within the next year is not particularly elevated,” and added, “All signs are that this is a strong economy, one that will be able to flourish — not to say withstand, but certainly flourish — in the face of less accommodative monetary policy.” As NewsBTC has been reporting, the 25bps hike scenario looks bullish for Bitcoin for its more passive stance. As many believe the FED’s dovish move comes as a late reaction and will do little to nothing to the U.S. inflation, investors might be taking refuge in Bitcoin as it has happened before. Inflation is expected to remain high at 4.3% by the end of 2022, above the Fed’s annual target of 2.3%. Keeping savings in the bank only means a loss of purchasing power, and as a result, many people might start to see Bitcoin as a hedge against these losses. Cameron Winklevoss, the co-founder of Gemini, argues that the best way to shield yourself from rising inflation is Bitcoin. “Imagine paying a money manager 7.9% a year to do absolutely nothing with your money. That’s what inflation is. It’s a hidden management fee that comes with no return. Today, if you hold USD cash, you are paying the US government 7.9% to do nothing with your money. Scary.” Ukraine Sings Crypto Regulation Amidst the Russo-Ukrainian war, crypto has also been looking like the only feasible option to the people affected by the invasion and sanctions. Ukraine has benefited from crypto assets in several ways during the war. They have received over $108 million in donations in crypto-assets and reportedly, citizens have been able to use digital coins as a tool to safely take their funds with them when fleeing the country. Moreover, regulatory clarity for crypto in the U.S. and other places is expected. Many politicians are taking stances in favor of cryptocurrencies, and Ukraine’s president Zelensky is not lagging behind. Volodymyr Zelensky just signed a law “on virtual assets” to legalize crypto. An official statement says that this law “creates conditions for the launch of a legal market for virtual assets in Ukraine.” “The signing of this Law by the President is another important step towards bringing the cryptocurrencies sector out of the shadows and launching a legal market for virtual assets in Ukraine.” The deputy minister of digital transformation, Alex Bornyakov, expressed that they believe “that crypto industry offers new economic opportunities. We will do our best to bring the bright new future closer as soon as possible.” This does not mean cryptocurrencies are a legal tender in Ukraine, but crypto holders are now legally protected in the country. This favorable sentiment appears to be growing amongst many politicians and governments around the world, which could turn into a rapidly growing institutional adoption of crypto. As both Russians and Ukrainians have found themselves in need of an alternative to the traditional financial institutions, they have also sought refuge in bitcoin and stablecoins. Besides the functional side experienced by Ukrainians, Russians could be finding in crypto a refuge from their devalued ruble. This sets a worldwide example and could end in a positive scenario for the market. Related Reading | Leading News Outlets In Ukraine Aim To Secure $1 Million By Selling NFTs

The round has the participation of entities from both fintech and crypto-focused funds such as crypto-focused venture capital firm Dragonfly Capital, venture capital firm MSA Capital, cryptocurrency hedge fund Three Arrows Capital and others.

The post Finblox Closes Strategic $3.9M Seed Round to Democratize Wealth Building Through Crypto appeared first on BitPinas.

March 15, 2022       /       Unchained Daily       /       Laura Shin Join My Private Discord By Purchasing an NFT! I recently launched a private[...]

The post The EU Rejects a ‘Bitcoin Ban’ appeared first on Unchained Podcast.

The CEO of Terraform Labs Do Kwon has wagered $10 million on the price…

The post Terraform Labs CEO Do Kwon bets $10 million on LUNA price appeared first on Coin Journal.