Cybersecurity analyst Serpent has revealed his picks for the most dastardly crypto and nonfungible token (NFT) scams currently active on Twitter. The analyst, who has 253,400 followers on Twitter, is the founder of artificial intelligence and community-powered crypto threat mitigation system, Sentinel. In a 19-part thread posted on Aug. 21, Serpent outlined how scammers target
Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying
On Monday, developers of decentralized nonfungible tokens (NFTs) borrowing and lending protocol Bend DAO proposed new emergency measures in an attempt to stabilize the ecosystem. The same day, it was revealed that the project had just as little as 15 wrapped Ether (wETH) worth $23,715 to pay back lenders. Approximately 15,000 ETH was lent using
After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls’ dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. The worsening conditions are not exclusive to crypto markets. The price of WTI oil ceded 3.6%
The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. Another thing keeping investors nervous could be the upcoming Jackson Hole economic symposium, which is scheduled to begin on Aug. 25. Investors are
A survey by NYSE-listed Stifel Financial shows that most executives are bracing for a recession in the U.S. In addition, “53% of respondents believe that inflation will be an issue for the next two quarters to a year.” Most Executives Surveyed Say Recession Cannot Be Avoided Stifel Financial Corp. (NYSE: SF) announced the results of
According to a new post by Acala Network co-founder Bette Chen, the community has voted to burn 2.97 billion worth of Acala USD (aUSD) stablecoin. Acala is a decentralized finance platform built on the Polkadot (DOT) ecosystem. The week prior, the price of aUSD fell to less than $0.01 from its dollar peg after it
The number of unregistered cryptocurrency-related businesses continues to outweigh those signed up with the United Kingdom’s Financial Conduct Authority. Crypto.com became the latest business from the cryptocurrency ecosystem to register with the FCA, joining a list of a confirmed 37 companies with the green light to offer services in the country. Just seven businesses have gone
Bitcoin (BTC) drifted near $21,000 on the Aug. 22 Wall Street open as the new week began without a rebound. European commodity surge hammers euro Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to summon a comeback after last week’s 11.6% losses. The pair put in fresh multi-week lows under $20,800 over the
The Ethereum ecosystem continues to witness a flurry of activity that has individuals and organizations deploying token contracts, adding liquidity to pools and deploying smart contracts to support a wide range of business models. While notable, this growth has also been riddled with security exploits, leaving decentralized finance (DeFi) protocols vulnerable to hacks and scams.
The hype around the Ethereum network had built up following the announcement that the Merge was scheduled to take place on September 15th if everything went according to plan. The price of ETH had seen a massive run-up off the back of the news, seeing it touch above $2,000, albeit briefly. However, as the weeks
The average transaction fees on the Bitcoin (BTC) blockchain fell below $1.00 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over the Ethereum blockchain skyrocketed several
The percentage of USD Circle (USDC) stablecoins held by major wallet addresses dropped to its lowest point in almost two years as the cryptocurrency market downturn continues. Cryptocurrency analytics firm Glassnode has released the latest data on USDC metrics, reflecting a recent sell-off of the second biggest U.S. dollar-backed stablecoin by market capitalization. $USDC Percent
The South Korean Ministry of Strategy and Finance on Monday cleared that virtual asset airdrops, staking rewards and hard forked tokens would be subject to a gift tax under the Inheritance and Gift Tax Act despite the postponement of crypto gains tax to 2025. Cryptocurrencies are officially referred to as part of virtual assets under
Bitcoin (BTC) starts a new week fresh from a new multi-week low amid a return of highly nervous sentiment. After dipping below $21,000 over the weekend, the largest cryptocurrency is consolidating around 10% lower than a week ago, and the fear across crypto markets is clearly visible. As some call for new lows and others
An IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto farm. Altai Resident Apprehended for Running Underground Crypto Mining Operation An
The S&P 500 ended its four-week-long recovery last week after minutes from the Federal Reserve’s July meeting hinted that the central bank’s rate hikes will continue until inflation is under control. Members of the Fed said there was no evidence that inflation pressures appear be easing. Another dampener was the statement by St. Louis Fed
The Inflation Reduction Act, signed into law this month by President Joe Biden, empowers the IRS with nearly $80 billion in new funds. The world’s most powerful tax collection agency is using the money to go on a hiring spree to fuel much tougher enforcement efforts. It is widely assumed that the audits will be
The crypto market registered a major slump on Friday, resulting in major cryptocurrencies losing key support and falling to new monthly lows after a prolonged bullish surge over the past month. Bitcoin (BTC), which was looking to break through the $25,000 resistance level last week, fell below $22,000 to register a new two-week low of
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News