Showing posts with label bitcoin news. Show all posts
Showing posts with label bitcoin news. Show all posts

Man CONFRONTS Luna Founder AT HOME After Losing Over $2 Mil in Coins Recent Collapse...

Terraluna Luna founder breakin

A crypto investor was arrested today in Seoul, South Korea for trespassing at the residence of Do Kwon, the co-founder and CEO of Terraform Labs.

The suspect, whose identity has been concealed, allegedly entered the apartment complex in eastern Seoul last week and rang the doorbell when Kwon's wife was at home, looking for him.

Kwon is at the heart of the Terra cryptocurrency's and Luna's digital coin counterparts' huge downfall. Luna's price has dropped to under 1cent, having traded for over $80 at the beginning of the month, while their stablecoin built to always be worth $1 continues to massively miss the mark at $0.09.

"I've lost between 2 and 3 billion won (US$2.3 million)" the suspect told reporters during an inquiry at Seongdong Police Station.

The suspect, who runs an online broadcasting channel, alleges that people have committed suicide as a result of the stablecoins' decline.

Pleading with Kwon to take responsibility for the current catastrophe, the suspect said Kwon should apologize to the over 200,000 investors who have lost money.

Kwon's wife requested police protection after his visit, according to officials.

Terraform Labs says they are working on ways to keep its Terra blockchain and ecosystem running despite the collapse of its cryptocurrency.

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Author: Adam Lee 
Asia News Desk Breaking Crypto News

How Do I Conduct a Smart Contract Audit?

Audit smart contract

Hackers test the strength of blockchain security in different areas every day. It is not surprising since the system itself has been designed to create a more optimal level of protection. If you use smart contracts, you know for sure about a severe vulnerability in the blockchain right now. To prevent serious problems that can cost your reputation and money, you need to conduct a
 smart contract audit. However, to initiate it, you should know more about it.

What Are Smart Contracts and Their Audits?

Smart contracts are known as computerized transaction protocols on the blockchain market designed to fulfill the prescribed terms of a contract. They are used in voting in elections and managing various supply chains. The role of any smart contract is to optimize an ideal level of performance. However, without hiring a reliable auditor before launch, you are exposed to significant risks:

- Severe discrepancies in the execution

- Loss or theft of personal data

With the help of smart contract audits, it is easier to identify any errors and vulnerabilities even before the smart contract is launched. Moreover, such checks are a mandatory recommendation since data, like code, can be changed in the blockchain.

Importance of Ethereum Smart Contract Audits

The most common attacks in the blockchain system are replay, reorder, or short address attacks. A smart contract audit is necessary if you are the owner of decentralized application products, the creator of an ICO startup, or a smart contract developer. But what will it give you in practice?

- After checking, it will be possible to optimize the code better.

- Improved smart contract performance.

- Further protection against hacker attacks.

- Enhanced security of e-wallets.

If the smart contract audit cost is the only criterion you consider when looking for auditors, you should urgently change your approach. There is no concept of more or less here. Its price is affected by many factors. So, it is better to rely on the experience of the team or an individual auditor. They will consult you, answer all your questions, and name the price for their services. Then, if everything suits you, the smart contract project team will start working.

Work Principles of Smart Contract Security Audit

Usually, the audit process consists of four main elements:

  1. Testing can help detect bugs and target individual features or a larger piece of smart contract code. If most tests fail, the audit is suspended until the most critical aspects are corrected.

  2. Automated analysis can evaluate the program to determine the input data. It can optimize the process of finding problems. If you have to initiate this verification element manually, it will be automated in the future. It will significantly reduce one part of the audit process.

  3. In the case of a complex search for security vulnerabilities, manual analysis is necessary. Auditors will be able to evaluate the effectiveness of the desired features and your project. In other words, you can achieve your goals with an already existing contract, or it needs to be finalized.

  4. After smart contract security audits, you will have a report with detected errors and recommendations for code fixing.

The importance of such audits is obvious, but before conducting them, please, consider the elements of the audit to select reliable auditors.


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Content not created, evaluated, or endorsed by Global Crypto Press Crypto & NFT Press Release Distribution

Tesla Shares Why They Believe in Bitcoin in Latest Quarterly Report Filed with The SEC...

Tesla bitcoin crypto investments

Tesla, the US electric car manufacturer, released more details about why it invests in bitcoin (BTC). This is no small investment either, as Tesla currently holds 42,902 BTC making them the 2nd largest Bitcoin holder of all companies globally, with MicroStrategy the largest. However, it's worth noting that MicroStrategy is a company that exists to invest in digital assets.

These new disclosures on Tesla's belief in crypto come in their latest quarterly report filed with the SEC, where they state:

"In the first quarter of 2021, we invested an aggregate $1.50 billion in bitcoin. We believe in the long-term potential of digital assets both as an investment and also as a liquid alternative to cash. As with any investment and consistent with how we manage fiat-based cash and cash-equivalent accounts, we may increase or decrease our holdings of digital assets at any time based on the needs of the business and our view of market and environmental conditions.

Digital assets are considered indefinite-lived intangible assets under applicable accounting rules. Accordingly, any decrease in their fair values below our carrying values for such assets at any time subsequent to their acquisition will require us to recognize impairment charges, whereas we may make no upward revisions for any market price increases until a sale. For any digital assets held now or in the future, these charges may negatively impact our profitability in the periods in which such impairments occur even if the overall market values of these assets increase. For example, in the first quarter of 2021, we recorded approximately $27 million of impairment losses resulting from changes to the carrying value of our bitcoin and gains of $128 million on certain sales of bitcoin by us."

Their crypto investments come up once again in the document, where companies are required to disclose any risks to the business.  It's important to understand this section is where a company gives the absolute worst case scenario to investors. Here, Tesla included everything from being unable to make more batteries because of material shortages, to hackers being able to 'gain control of' their vehicles and the public panic it would cause. 

So, with that tone in mind, they explained the risks they take by holding crypto, saying:

"In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity, allowing us to invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. Thereafter, we invested certain of such cash in bitcoin. We believe in the long-term potential of digital assets both as an investment and also as a liquid alternative to cash. As with any investment and consistent with how we manage fiat-based cash and cash equivalent accounts, we may increase or decrease our holdings of digital assets at any time based on the needs of the business and on our view of market and environmental conditions. 

The prices of digital assets have been in the past and may continue to be highly volatile, including as a result of various associated risks and uncertainties. For example, the prevalence of such assets is a relatively recent trend, and their long-term adoption by investors, consumers and businesses is unpredictable. Moreover, their lack of a physical form, their reliance on technology for their creation, existence and transactional validation and their decentralization may subject their integrity to the threat of malicious attacks and technological obsolescence. Finally, the extent to which securities laws or other regulations apply or may apply in the future to such assets is unclear and may change in the future. If we hold digital assets and their values decrease relative to our purchase prices, our financial condition may be harmed."

In other words, fairly common fears like potential security threats, which have hit companies far more experienced in holding large amounts of crypto.  Another risk highlighted is the the possibility of future government regulation, which could hurt the whole ecosystem if poorly implemented or too broad.

So far, even with the latest dips, Tesla is well into the profit zone. They acquired their Bitcoin in January 2021, when prices were as low as $29,000 and peaked at $34,000.

At the time of publishing, Bitcoin is trading at $38,350, meaning their profits are a minimum of $186,623,700.

So, where things currently stand, Tesla has no regrets.

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Author: Mark Pippen
London News Desk 
Breaking Crypto News


How Bitcoin Mines Were Airlifted From China to the US Following China's Ban On Crypto...

The Chinese government has been attempting to eradicate cryptocurrencies in the country for quite some time, with varied degrees of success.

In 2021, restrictions on mining eventually drove firms out of the country, relocating to nations such as Kazakhstan, who have more favorable policies toward cryptocurrency mining. A number of towns around the United States have welcomed them, with both support and condemnation coming from residents 

Video Courtesy of Motherboard / Cryptoland 

Dallas Cowboys Becomes First NFL Team To Cross-Over to the Crypto World, Thanks to New Partnership...

The Dallas Cowboys have made Blockchain.com their official digital asset platform, which is the first time the NFL has worked with a cryptocurrency company.

Peter Smith, the co-founder and CEO of Blockchain.com, met with Cowboys owner Jerry Jones at The Star in Frisco to talk about the partnership. 

For Blockchain.com, the deal will give them a chance to advertise and brand themselves. It also gives them club space inside AT&T Stadium, as well as rights to social media integration and signage.

They did not disclose how much the deal was worth.

Video Courtesy of CBS Dallas

Luna Foundation Buys Another 4,130 Bitcoin - Surpassing Tesla's Holdings...

Luna foundation bitcoin holdings

The Luna Foundation bought an additional 4,130 Bitcoin, raising the foundation's total holdings to 39,897.98 BTC, as they continue to pursue their goal of purchasing $10 billion worth of Bitcoin and becoming the second-largest holder of BTC behind Satoshi Nakamoto.

The Luna Foundation still needs to purchase another $8.2 billion in Bitcoin to reach its goal, but their holdings are already quite impressive.  

In addition to their stash of Bitcoin, the foundation also holds $563 million in USDC and USDT stablecoins, and earlier this week announced a planned $100 million purchase of avalanche (AVAX) to continue to diversify their reserves.

Market Reaction... Missing.

However, the Luna Foundation's purchase of 4,130 Bitcoin had no effect on the cryptocurrency markets.

The reason is most likely a deal conducted outside of exchanges, which allows them to avoid slippage (raising the price on themselves), which also means not filling any sell orders - in short, everything is done in such a way that it is impossible to move the price, except for how other traders react to the news.

 At the time of writing, BTC is hovering around the $43k support level.

Where Do We Go From Here?

Indicators are now in a neutral zone, none are screaming 'buy' or 'sell' at the moment. 

This could result in lower prices before another rally, but if it manages to hold at this level or higher for the next few days that stability could attract buyers, once again building up momentum.  I'm watching for it to break the $48k resistance zone and open the door to $50k or even higher fairly soon.

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Author: Adam Lee 
Asia News Desk | Breaking Crypto News

Bitcoin Transactions COULD be Private, Ever Since It's Last Update - But NO EXCHANGES Are Implementing It...

Private bitcoin transactions

Taproot, Bitcoin's most recent significant update, is more popular among wallets than among exchanges in the ecosystem.

This version included, among other things, privacy-oriented improvements that exchanges may not be greatly motivated to adopt.

Taproot transactions is however supported by an increasing number of wallets, allowing users to receive or send bitcoins with a private newly generation address that masks their public wallet address.

Taproot is used by 17 of the top 32 wallets for transferring or receiving bitcoins.

Exchanges Aren't Jumping To Implement...

On the exchange side, Taproot's adoption isn't looking good, with one of the top 50 exchanges being a little-known P2P exchange (similar to localbitcoins) named Agoradesk.

Exchanges may be hesitant to accept bitcoin deposits sent to Taproot addresses because this with promoting user privacy, comes preventing the deep examination of blockchain transactions that allow the origins if tokens to be determined.

Why Are Exchanges Avoiding it?

Because exchanges must comply with financial regulations in every nation where they operate, private transactions may put them in a position where they are asked to pass over information on a transaction, but then not have it.

What remains unclear is why some of these exchanges offer other privacy coins but not taproot for Bitcoin.

The best guess explanation I have for this is that privacy coins that have been listed for years don't upset enforcers nearly as much as converting Bitcoin from public to private, which may be viewed as a direct hostile move.

But It's Still Easily Accessible...

Find one of the many wallets that support taproot transactions for Bitcoin, and you'll just need to take the step of transferring your Bitcoin from an exchange, to your wallet, then doing the transaction you want private.  

This shouldn't be an 'extra' step for you, since you should be keeping your BTC on a non-exchange wallet you have the keys for anyway. 

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Author: Justin Derbek
New York News Desk
 Global Crypto Press
Breaking Crypto News

Scorpio Metaverse Secures Patent-Pending Status For Their Interoperable Omniverse Engine...

 

Scorpio Metaverse Corporation

Using blockchain and Web3 technology the Scorpio Metaverse Engine connects humans to each other in the virtual world. 


Scorpio Metaverse Corporation (SMC), a technology company developing a suite of interoperable metaverses and play-to-earn games, today announced that is has been awarded patent-pending status by the United States Patent Office (USPTO). 

SMC completed development of the beta engine this month, and is on track for a Q2 launch of FitnessVR.io, SMC’s first metaverse powered by the Scorpio Metaverse Engine, dedicated to advanced wellness and human connection; they aim to deploy 10 interoperable metaverses within the next 12 months. 

Metaverses built with SMCs patent-pending engine offer flexible interoperability and enhanced user experiences, with customizable avatars able to jump between metaverses using blockchain technology and crypto wallets. Their suite of proprietary tools and integration with leading-edge technologies in the Web3 space allow SMC to help individuals, corporations and organizations build fully customized metaverses. 

Being one of the first-to-market tech companies leading the charge of shaping the Metaverse Web3 space, Scorpio Metaverse Corporation is obtaining patent protection for its technologies, as well as registering other intellectual property rights for its business and technology assets in the United States and internationally. SMC aims to protect the technology, inventions and improvements that are commercially important to the development of its business using the most effective and efficient intellectual property instruments, including patents, trademarks and trade secrets. 

Nav Gupta, Founder & CEO of Scorpio Metaverse Corporation: 

“We’re building the tools to make custom metaverses accessible across the world; our patent-pending process reduces the barrier to entry for great ideas to get built quickly. We are extremely proud to be first-to-market with the creation of our proprietary metaverse engine which is a system and method for creating custom metaverses. Whether you’re a business looking to build an office metaverse or a university looking to have your school built into a metaverse, in the future we believe metaverses will be like websites and you’ll be able to build them using our tools and systems and jump from metaverse to metaverse. Unlike our competition, our primary business is metaverses and we have security and safety at the heart of

our system for end users. Human connections are very important and we believe that with our technology we can help people connect with each other in new, fun and unique ways. I recognize the significant potential this patent holds, as it directly addresses key challenges currently facing the fragmented and disconnected landscape of the metaverse industry.” 

About Scorpio Metaverse Corporation 

Scorpio Metaverse Corporation is an international collective of tech companies at the intersection of Web3, Blockchain, and Gaming. The company initiated activities in 2022 and is headquartered in Toronto, Canada, with subsidiary corporations in Vietnam, India, Dubai and plans for expansion into Africa, Europe, and the United States. 

Scorpio Metaverse Corporation is developing a suite of innovative metaverse-building technologies focused on connecting users and providing world-class, fun and interactive experiences for them in both WebGL, Virtual and Augmented Reality environments. 

To learn more about Scorpio Metaverse Corporation, visit: https://www.scorpiometaverse.io

Contact: 
marketing@scorpiometaverse.io

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The Crypto Press Association | Crypto & NFT Press Release Distribution

World-Wide Look At Regulations Reveal SHOCKING Total People with Restricted, or No Access To Cryptocurrency Markets...

Cryptocurrency has had an underwhelming start to 2022, with 2021's bull market taking a turn that sent Bitcoin down to $38,500 in January. Despite a couple wild swings, it keeps returning to approximately that same price - now 3 months in to the year and it's $38,450 at the time of publishing.

While 2022 on a micro scale has been a battle of fear and confidence between crypto bulls and bears, the macro investor will be happy with the headlines emerging throughout February. Every day, there appears to be a more positive attitude toward cryptocurrency among big companies, institutions, and countries.

Within every country, there are development conversations and plans being drawn on how to integrate, adopt, make use of, and ultimately benefit from the coming adoption and demand of Bitcoin by the public. In comparison to other successful developing technologies, Bitcoin’s positivity and acceptance is snowballing at a rapid pace. Countries that already embrace crypto are moving fast to stay ahead of the curve, while countries that still have a legal grey area over crypto are starting to have their heads turned, making some cautious moves in attempt to keep a hand in the game.

I could spend all day listing new daily headlines, that show a major swing in momentum towards cryptocurrency by countries, states, institutions, companies, and key people/investors. However, let's take examples from the big guns in 2022 so far

- Russia recently warned of a crypto ban but looked to have pulled a U-turn, making new policy to integrate and benefit from crypto.

- India has strongly opposed crypto and still has bans in place. They have now announced a bill to tax crypto gains, allowing a huge population to use the blockchain legally.

- Turkey’s crypto bans seems to be nearing an end as they see such a high demand for blockchain use amid an inflation crisis. They too are exploring ways to tax, legalise, and make use of crypto themselves.

Current countries that have a ban, tight regulation, or heavy legal restrictions on crypto are:

COUNTRY | POPULATION:
China - 1.4Billion
India - 1.3Billion
Indonesia - 273m
Russia - 145m
Egypt - 100m
Vietnam - 97m
Turkey - 84m
Iran - 83m
Columbia - 50m
Algeria - 43m
Iraq - 40m
Nepal - 29m
Bolivia - 11m
Macedonia - 2m
Kosovo - 1.8m

Total 3,658,000,000

Combined, we discover 45% of the world's population has heavily restricted or no access to cryptocurrency markets...

Even in countries where crypto has been embraced so far, political pressures are guiding people toward crypto as a store of value and wealth preservation.

More and more people are beginning to recognize the value of hedging some of their wealth in ironically safer assets such as cryptocurrency in the face of uncertainty in places such as Ukraine and certain areas of Canada.

Citizens are pressuring politicians and forcing them to get educated on crypto - warning that if bans are imposed, they can expect to lose the next election.

Just last week in the European Parliament it initially appeared that a bill that would have banned mining of some cryptocurrencies known for using high amounts of electricity was going to pass.  Until members offices and inboxes began being flooded by voters advising they re-think their position. 

Will 2022 pan out to be the year of Adoption?

Regardless of price in the next day, week, or month, this snowballing momentum will continue to grow in favor of cryptocurrencies as the abovementioned organizations continue the race to get ahead of the game. What happens when the above 45% have crypto assets readily available?

I believe we will see the above list continue to have their heads turned in fear of falling behind of blockchain tech, and for this reason, 2022 will be the year to kickstart mass adoption of crypto.

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Written By Guest Author 
Contact: 614Crypto @ Twitter
Disclaimer: Not Financial Advice

Coinigy Expands its Supported Cryptocurrency Exchanges with the addition of FTX US...

Coinigy cryptocurrency exchange news

MORRISTOWN, USA - March 15 2022Coinigy, the leading provider of crypto trading solutions, today announced the addition of the FTX US crypto exchange to its trading platform.  

Coinigy subscribers can now access charts, check balances, and trade on FTX US. The Coinigy platform provides unparalleled market access with the ability to trade FTX US as well more than ten other cryptocurrency exchanges including such well-known names as Binance, Bitfinex, Coinbase Pro and more.  The Coinigy platform allows users to consolidate trades across exchanges. 

“We’re excited to add FTX US to our list of available crypto exchanges” said William Kehl, Senior Vice President.  “Coinigy was developed with the goal of giving traders a powerful trading platform that can access multiple cryptocurrency markets.   The addition of FTX US is a natural extension of achieving that goal.”

Coinigy is one of the most popular global trading platforms for active crypto currency traders with access to over 45 exchanges, 6,800 markets and 16,000 currencies from a single interface.  Over 750,000 traders have accessed the trade platform worldwide. Coinigy also provides extensive historical Crypto Trading Data.

About Coinigy

Coinigy is a cloud-based cryptocurrency trading platform that connects to more than 45 exchanges including, Binance, Bitfinex, Bittrex, Coinbase Pro, Huobi Pro, Kucoin, Kraken, and Poloniex and 6,800 markets and currency pairs. The platform offers multi exchange real-time pricing data, full-featured spot trading, data visualization, direct blockchain analysis, and portfolio management/aggregation tools through its subscription-based service.

For more information:
http://www.coinigy.com
https://twitter.com/coinigy
https://www.facebook.com/coinigy
https://www.linkedin.com/company/coinigy/

Contact:
Dina Badia
Pr@lightspeedcrypto.com


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The Crypto Press Association | Crypto & Blockchain Press Release Distribution

Biden Plans To Sign Executive Order on Crypto Sometime THIS WEEK...

According to a report by Reuters on Monday, President Joe Biden is planning to issue an executive order on cryptocurrency policy this week, citing a source familiar with the situation.

The article claims, the order, which could aim to appoint a person with regulatory authority to oversee the crypto market, could come as early as Wednesday.

Regulators keen to close the gap on what they regard as trading activity occurring outside their remit continue to debate jurisdiction over digital asset market monitoring.

In this video, William Luther, a professor of economics at Florida Atlantic University and a fellow with the Bitcoin Policy Institute, argues Ukraine is 'essentially crowdfunding its military efforts' using crypto.

Video Courtesy Of Fox Business

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Spend $20, Get $40 Worth Of Bitcoin!
See How Here!

"The $2 Trillion Dollar Market Cap Tells You I Haven't Been Right..." Billionaire Investor Admits He Was Wrong About Crypto...


Ken Griffin, CEO of investment firm Citadel and a famous crypto detractor, seems to have shifted his opinion towards digital currency.

Once a prominent crypto detractor, he seems to have softened his stance on digital currencies, telling Bloomberg in an interview this week that he is still not completely sold on crypto, but his firm cannot ignore the space any longer.

"The crypto market today has a market capitalization of around $2 trillion in round numbers, which shows you that I haven’t been correct on this call" adding that "crypto has been one of the greatest stories in finance over the course over the last 15 years."

Griffin earlier blasted Bitcoin as "a jihadist call" against the dollar.

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

Please Make it Stop: Mark Zuckerberg's Sister Releases Crypto Themed Music Video...

Randi zuckerberg nft crypto music video song singing


Randi Zuckerberg, Sister of Mark Zuckerberg, has just dropped this one on her social media - a music video where she re-wrote a popular love song - to express her love for crypto.

We're not trying to be haters, and you could probably argue that it wouldn't be right to cite any of her brothers actions as reasons to hold a grudge against her - but clearly we're not alone in feeling this way.

To be fair, she's not among the people jumping into crypto now that it's trendy among the 'upper class' - we actually wrote about her when we first discovered she was into crypt,o, back in 2018.

Unfortunately, if we consider her 4 years of experience proof she's legitimately into crypto for the right reasons, the video becomes even more confusing.

"I think it's been awhile since you've spent time with normal people" is the feeling you get when someone with one of the most recognizable last names in the world casually drops a music video and thinks 'lol that silly Zuckerberg!' will be the average response...

It's like this - after Facebook's ban on crypto companies advertising (which was eventually turned around but lasted way too long) and their failed attempt at lunching their own coin 'Libra' - where the concept of Facebook minting money seems to have instantly turned a few politicians anti-crypto, and they still are today - nobody wants the Zuckerberg brand closely associated with crypto right now.

I get there's no way to win when they'll have to be out there to repair their image, but nobody wants to see them.  But this is the part where I have a hard time feeling bad for billionaires who are only in this position because they wanted more money. 

Still, nowhere near as angry as people with comments like:

"This makes me so excited to one day be in a grave"

I think... I think this video made me actually like centralized banking.... How do I delete Metamask?

Someone said "Unfortunately, it did not speak to my spirit."
someone replied "It spoke to mine, but all I heard was “throw yourself off the earth”

Ouch.

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Author: Justin Derbek
New York News Desk
 Global Crypto Press
Breaking Crypto News

Attempt To BAN Crypto Mining In Europe FAILS in the European Parliament...

Europe crypto mining ban

European Parliament has confirmed that language that would have banned crypto mining in Europe has been REMOVED from the proposal. 

German media first reported that a "de facto ban" on Bitcoin in the European Union has been put on hold for the time being. According to the source, they have access to a fresh draft of the law in which the contentious paragraph has been eliminated entirely.

Environmentalists and social democratic factions would have pushed for the inclusion of the articles, which would have outlawed any Proof of Work mining, which includes cryptocurrency like Bitcoin.

"In particular, they [cryptocurrency service providers] may not enable the acquisition or trading of such crypto assets, and they may not offer custody services for said crypto assets," according to the legislation. The rule also called Bitcoin's proof-of-work (PoW) algorithm a "environmentally unsustainable consensus mechanism."

Those Who Supported It Faced Public Pressure...

Patrick Hansen, the Berlin-based strategy leader of the DeFi project Unstoppable Finance, launched a campaign a week ago to urge the bitcoin community to exert pressure on their European Parliament MPs. Hansen urged his fans to contact MEPs and express their opinions on the law text. This campaign generated a lot of buzz on social media.

However, one Dutch parliament member warns that this is not the same as a decision in favor of mining either, and that another move to ban crypto mining could be on the horizon.

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Author: Mark Pippen
London News Desk 
Breaking Crypto News


Bitcoin gives Russia's Currency a FLIPPENING...

Bitcoin Crypto Flippening

Russia's ruble just experienced a Bitcoin flippening!

With the recent dip in the value of the ruble versus the dollar, using the Central Bank of Russia's most recent report showing supply of 65.3 trillion rubles, that equates to a market cap around $629 billion.

This means that the market capitalization of Bitcoin has officially surpassed that of the Russian ruble, which is now valued at roughly $41,000 gibing Bitcoin a market capitalization of $780 billion,  more than $100 billion more than is required to overtake it.

A 'flippening,' for those unfamiliar, is crypto lingo meaning one currency exceeding the rank of another...

The Russian currency is experiencing inflation as a result of sanctions implemented by the US and its allies in reaction to the country's military invasion of Ukraine. The central bank boosted its benchmark interest rate from 9.5 percent to 20 percent on Monday, according to Reuters, while the European Commission announced intentions to withdraw Russian banks from the SWIFT payment system.

Many inhabitants of Russia and Ukraine, on the other hand, appear to have increased trading activity on exchanges, potentially due to fears about the stability of their respective fiat currencies and the use of crypto to seek donations for pro-Ukraine initiatives. According to Cointelegraph, the Ukraine-based crypto exchange Kuna had around $4.4 million in total trading volume of all tokens over 24 hours on February 24 – the same day Russian soldiers commenced their invasion.

Crypto gives an immediate and straightforward choice for people with a rudimentary understanding of digital money, as more Russian and Ukrainian citizens choose to invest their cash somewhere other than their national currency.

Over the past few months Bitcoin had flippening events with both Tesla and Facebook...

Amazon represents the ultimate flippening target, with a market cap of $1.56 trillion, Bitcoin is barely past the halfway point.

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Author: Justin Derbek
New York News Desk
 Global Crypto Press
Breaking Crypto News

Bitcoin RISES ABOVE The Russia/Ukraine Conflict...

Bitcoin in the The Russia/Ukraine Conflict

After a rally of almost 3,000 dollars in just a few hours, Bitcoin has returned to the $40k zone, touching $41,000! This comes after Bitcoin spent the previous five days hovering around the 38,000 price level. This would be the first time Bitcoin has recovered and maintained a support level of 40,000 since tensions between Russia and Ukraine turned to all out war.

The world's gaze remains fixed on Moscow and Kiev, and BTC initially fell by 8% as a result of the wars in Eastern Europe.

While Bitcoin Rises, Other Markets Continue To Suffer...

While Bitcoin was rising, stocks were falling and energy prices were rising on Monday, as an escalation of sanctions against Russia in response to the ongoing conflict in Ukraine stoked further uncertainty about the outlook for global financial markets, sending oil prices above $900 per barrel for the first time since 2014.

When comparing bitcoin to other assets on the market, we can see a shift in the way the market's most popular cryptocurrency has been behaving. While bitcoin's price dropped in tandem with the US stock market a few days ago, with the start of Russia's invasion of Ukraine, there is now a decoupling from the activities and a price trend more akin to commodities.

What's Causing This?

According to a belief circulating financial discussion boards, Russian and Ukrainian investors, as well as those from other areas of the world, are turning to raw materials and bitcoin to protect their riches in the wake of the disaster.

This would support the idea that bitcoin is becoming more widely regarded as a safe haven asset in situations with significant economic, political, or social ramifications.

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Author: Matthew Miller
London Newsroom Global Crypto Press
Breaking Crypto News

Dog Breeders Bringing in MASSIVE Profits for Shiba Inu's (the Actual Real-Life Dog Breed) - After Memecoins Create Huge Demand...


The meme-based cryptocurrency Dogecoin features one as it's official and now-famous mascot - a dog that began as a viral satire, and became an international household name. Then, a second coin that simply shares the 'Shiba Inu' name brought even more attention, as it set records as the cryptocurrency with the fastest rising value. 

Meet the Shiba Inu, a popular Japanese dog that just keeps getting more popular, so much so that breeders are now unable to keep up with the demand for people who want their favorite digital pup as their real-life pet.

This insane demand has sent the price for the Shiba Inu breed SKYROCKETING...


Video Courtesy Of CNBC

Lose Money In a Crypto Scam? Cops Just Took $22 Million BACK...

uk crypto scam busted

The Police department of Manchester, UK has announced that their specialist officers recovered $22.2 million in crypto after finding and taking down a scam operation, where a 23-year-old male and a 25-year-old female were arrested for fraud and money laundering offences.

90% of the assets that were stolen are now recovered...

Once the scammers location was tracked down, detectives went to make the arrests and discovered USB sticks containing "large quantities" of Ethereum, along with additional crypto found in a wallet the criminals were using to earn interest on their stolen coins.

Authorities say those stolen coins came from users all over - United Kingdom, Europe, China, Australia, Hong Kong, and the United States. 

So far, 23 victims have received compensation after authorities verified their claims, while another 127 possible claims are being investigated.

Detectives suspect there are more victims out there who are owed money...

While they did not disclose the exact scam name, they described it as a "fake savings and trading service that ended up being a rug pull" and that it operated on Binance Smart Chain.

They want to return as much as possible to the victims but millions still remain unclaimed. Anyone who has been a victim of similar sounding fraud should contact OpGabbro@gmp.police.uk

Those who lost funds in scam that fits this description and are interested in potentially recouping their losses will be required to provide the name of the service they invested in, as well as wallet addresses and proof of ownership.

"With that comes a new type of crime and we're seeing a rise in opportunist criminals looking to exploit these trends as well as any gaps in the technology that can be manipulated. It's vital that we as a force adapt to what is an emerging type of crime, and demonstrate that there will be repercussions, regardless of the platform this fraudulent activity takes place on." said Detective Chief Inspector Joe Harrop of Greater Manchester Police's Economic Crime Unit.

When it comes to crypto crime, law enforcement is becoming more sophisticated...

Specialized officers who are familiar with digital assets are being trained in police forces around the world, and blockchain intelligence organizations are assisting detectives in following the paper trail.

This is one of several recent wins in the headlines...

The US Justice Department recovered Bitcoin worth $3.6 billion stolen from Bitfinex in 2016 earlier this month, in its largest financial seizure on record.

Such high-profile successes are ultimately a positive for Bitcoin, strengthening institutional investor trust and possibly making criminals reconsider.

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Author: Mark Pippen
London News Desk 
Breaking Crypto News


Canadian Government's Recent Actions Show Why 'We NEED Bitcoin'...

Saagar makes the case for bitcoin and all crypto currency given the Canadian government's financial crackdown of the Trucker convoy and those who helped fund it .

Saagar Enjetia and co-host Krystal Ball formerly anchored The Hill's daily news broadcast, and now own and host the independent platform 'Breaking Points'.

Video courtesy of Breaking Points
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