What’s happening in the Crypto Market
- On Monday, the U.S. Treasury Department’s watchdog the Office of Foreign Asset Control (OFAC) banned the ethereum mixing application Tornado Cash. OFAC has cited that the mixer has helped North Korean hackers such as the hacking syndicate known as Lazarus Group. OFAC Sanctions Tornado Cash Mixing App OFAC has officially banned the Tornado Cash and […]
- Native Payment Infrastructure, Airswift, Raises $2M in Pre-Seed Funding Led by CE Innovation CapitalPRESS RELEASE. Vancouver, August 8, 2022 – Airswift, a fintech startup pioneering Web 3.0 native payment solutions, announced that it raised $2 million USD in a pre-seed funding round led by CE Innovation Capital (CEiC). The latest funding comes amid a bear market sentiment and uncertainty around crypto. It indicates that investors are confident about […]
- Crypto Lender Hodlnaut Pauses Withdrawals — Company Cites Market Conditions, Despite Recent Crypto RallyOn August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra […]
- Flow was in the green to start the week, as the token climbed to its highest point since May. The surge has seen prices rise by as much as 15% on Monday, as recent gains were extended. Polkadot was also higher, as it too cemented multi-month highs. FLOW FLOW was one of Monday’s most notable […]
- Everyone is now familiar with the term “NFTs,” which provide users with decentralized asset ownership and legitimate property through blockchain technology. Similarly, NFT domains are currently trending with a similar approach of giving users ownership rights, but the difference is that these NFT domains can be stored as an asset, used to host a decentralized […]
- Investors avoid risk assets during a crisis, but excessive cash sitting in financial institutions could also be good for the cryptocurrencies.
- Optimism and expectations increase around crypto markets, but U.S. inflation data looms large this week.
- The virtual real estate market is crashing despite a McKinsey report predicting a $5 trillion market by 2030.
- The latest U.S. inflation data is poised for release this week as Bitcoin price action spikes higher after a promising weekly close.
- Select altcoins such as FLOW, THETA, QNT and MKR could rally if Bitcoin breaks above the stiff overhead resistance at $24,668.
What’s happening with Crypto Policy & Regulation
- Binance denied any equity ownership in the India-based crypto exchange after the latter came under regulatory scrutiny.
- The protocol was at the center of some recent hacks and exploits in decentralized finance, including the alleged theft of $455 million by the North Korea-affiliated Lazarus Group.
- The Office of Government Ethics reminded federal agency ethics officers of current law and extended its interpretation of the law to mutual funds.
- The first day of the main stage event included a keynote presentation from Ethereum’s Vitalik Buterin, 1inch Network's Sergej Kunz, and Klaytn Foundation’s Sam Seo.
- “This is an exciting next step for Crypto.com in an important market,” said co-founder and CEO Kris Marszalek.
- Regulators have expressed conflicting messages about whether the U.K. is a good place for cryptocurrency development to occur.
What’s happening with the Top 10 Cryptocurrencies
- Bitcoin and most major altcoins have bounced off their strong support levels and may challenge the overhead resistance in an attempt to resume the up-move.
- Bitcoin and most major altcoins are witnessing buying near strong support levels, indicating a bullish sentiment.
- Bitcoin and most major altcoins have been rejected by resistance, hinting at a few more days of consolidation.