78 Days: Measuring the Extended Crypto Market Downturn Against Prior Bear Markets

The crypto economy has shed enormous value over the last three months and the leading crypto asset bitcoin is down more than 46% since it’s all-time high (ATH) at $69,044 per unit. The same can be said for a great number of digital currencies as the so-called crypto bear market has lasted 78 days so far. 78 Days Into the Current Downturn, Crypto Supporters Question How Long the Bear Market Will Last At the time of writing, a great number of crypto proponents are wondering whether or not the current…

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Bitcoin, Ethereum Technical Analysis: BTC Prices Shaken as Fed Keeps Rates Unchanged

Cryptocurrency markets were volatile on Thursday as traders appeared to react to the Federal Reserve’s decision to keep interest rates unchanged. Bitcoin and ethereum both saw price uncertainty, as markets now expect a March hike. Bitcoin After making a run towards the $40,000 resistance on Wednesday, trading above $38,000 in the process, BTC/USD fell to a low of $35,690.05 earlier in today’s session . Thursday’s move comes as market uncertainty within crypto increased, resulting in today’s candlestick forming a doji, which typically means prices are neither bullish nor bearish. Following…

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Rebase Market Carnage: TIME Slips 61%, Wonderland Admin Allegedly Co-Founded Quadrigacx

While reserve-based crypto assets like gold tokens and stablecoins have been able to weather the crypto market carnage over the last two weeks, rebase tokens like wonderland (TIME), and Olympus (OHM) have seen massive losses. Wonderland is down more than 96% since the crypto asset’s all-time high (ATH), and OHM is down over 95% since it’s own ATH. Furthermore, the Wonderland project is surrounded by controversy as it’s been assumed that one of the founding members was a former Quadrigacx employee. Rebase Token Economy Drops From $3.2 Billion to $1.74…

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US Unveils Bill Giving Treasury Secretary ‘Unchecked and Unilateral Power’ to Ban Crypto Transactions, Advocate Warns

A new bill introduced in the U.S. has a provision that “would essentially give the Treasury Secretary unchecked and unilateral power” to ban cryptocurrency transactions, warned crypto advocacy organization Coin Center. Treasury Secretary Janet Yellen will be able to prohibit any crypto transactions “without any process, rulemaking, or limitation on the duration of the prohibition.” America COMPETES Act of 2022 ‘Disastrous’ for Crypto Jerry Brito, executive director of Coin Center, a D.C.-based think tank focused on the public policy issues facing cryptocurrencies, warned about the “America COMPETES Act of 2022”…

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Chrono․Tech Attracts $30 million Investment

PRESS RELEASE. Australian asset manager Mark Carnegie and a European Family Office have recently taken stakes in the company, totalling around $30 million, as Chrono’s ecosystem soared in activity and value over the course of 2021. The growth of the crypto market and blockchain sector has been nothing short of sensational over the course of 2020 and 2021, but Sydney blockchain company Chrono.Tech has enjoyed a particularly impressive run. Chrono’s suite of blockchain-based solutions for the HR and recruitment industry have attracted large numbers of new users as COVID-19 forced…

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Sunacrip Revokes Licenses Of Two Cryptocurrency Exchanges In Venezuela

Sunacrip, the Venezuelan cryptocurrency watchdog, has suspended the operating licenses of two exchanges for lack of compliance with current regulations. The announcement was made by Joselit Ramirez, superintendent of Sunacrip, who also mentioned the exchanges that are approved by the institution, leaving some big names like Binance off of the list. Sunacrip Tightens Compliance Requirements For Exchanges In Venezuela Sunacrip, the institution in charge of the regulation of all things crypto in Venezuela, has announced it has revoked the trading licenses of two exchange platforms on January 26. The superintendent…

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US Sentences Bitcoin Seller to 1 Year in Jail for Defrauding Investors

A bitcoin seller has been sentenced to one year and one day in jail for defrauding customers, according to a notice by the U.S. Department of Justice (DOJ). The man took money from customers but did not provide them with the agreed-upon bitcoin. Fraudulent Bitcoin Seller Going to Jail The U.S. Department of Justice (DOJ) announced last week that Michael Yusko has been sentenced to one year and one day in prison “for defrauding customers through unlicensed bitcoin business.” The 47-year-old resident of New Orleans sold bitcoin and other cryptocurrencies…

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Precious Metals, Cryptocurrencies, Stock Markets Falter Following Powell’s Rate Hike Statements

Equities, crypto markets, and precious metals did well during the early morning trading sessions on Wednesday, just before the U.S. central bank wrapped up its Federal Open Market Committee (FOMC) meeting. While the Fed said in a statement that the benchmark interest rate would rise soon, the central bank’s lead Jerome Powell said the committee “is of a mind to raise the federal funds rate at the March meeting.” Powell’s statements following the meeting, alongside discussions of reducing the balance sheet, were viewed as hawkish among investors and global markets…

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Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power

The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court Irkutskenergosbyt, the local power distributer in Irkutsk Oblast, has filed 137 lawsuits against customers using subsidized electricity to mint digital currencies in mining facilities set up in basements and garages. Taking the cases to court,…

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Dvision Network 2nd LAND Sale to Be Held on OpenSea and Their Native Marketplace

PRESS RELEASE. Not too long ago, Dvision Network had successfully initiated their LAND sale, and now it is time for the second sale to commence as the first month of 2022 nears its end. On January 27th, 11:00 AM UTC, the Polygon Ecosystem will witness the Dvision’s second LAND Sale via Dvision Marketplace and the NFT marketplace known as OpenSea. The NFTs, which are key units for the initiative’s Meta-Cities, shall be distributed fairly for sale through the native Dvision Marketplace and OpenSea via the Polygon Ecosystem. Moreover, the ERC-721…

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Nigerian Lawmakers Urged to Consider Regulating Crypto Industry After Proposal to Jail Ponzi Operators

The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regulate the crypto industry. Proposed Law Does Not Expressly Mention Cryptocurrencies As Nigerian lawmakers debate a bill that proposes a ten-year jail term for operators of Ponzi schemes, a leader of a Nigerian blockchain lobby group, Senator Ihenyen, has urged the country’s lawmakers to consider crafting a law to govern the cryptocurrency industry. He argued that an “unregulated crypto space…

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Tesla’s Latest Financial Statement Shows Bitcoin Worth $1.26 Billion

Elon Musk’s electric car company, Tesla, did not sell any bitcoin in the fourth quarter, according to the company’s latest financial statement. Tesla is holding bitcoin worth $1.26 billion. The company still has not resumed accepting bitcoin payments but now accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise. Tesla Did Not Sell Bitcoin in Q4 Tesla released its Q4 and FY2021 financial statements Wednesday. The company’s unaudited balance sheet shows net digital assets of $1.26 billion at the end of December last year. This amount is unchanged from the…

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Ripple Scores $15 Billion Valuation — CEO Says Financial Position Is Strongest Ever Despite SEC Lawsuit Over XRP

Ripple has bought back shares from its Series C funding round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status of XRP cryptocurrency, Ripple had the best year on record. Ripple’s $15 Billion Valuation and ‘Best Year on Record’ Ripple CEO Brad Garlinghouse announced via Twitter Wednesday that Ripple has bought back its Series C shares at a $15 billion valuation. The CEO described that “Even with 2021’s headwinds,…

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Global Crypto Owners Predicted to Surpass 1 Billion This Year

The number of global crypto owners is expected to exceed one billion by the end of the year, according to a report by Crypto.com. “Nations can no longer afford to ignore the growing push to crypto by the public. We may in many cases expect a friendlier stance towards the crypto industry,” the company said. There Will Be More Than 1 Billion Crypto Owners Worldwide This Year, Report Shows Crypto.com released its “Crypto Market Sizing” report last week showing an analysis of cryptocurrency adoption worldwide. The global crypto population increased…

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NFT ‘ETH in Mellieha’ Set to Go on Auction for Legal Rights to Number Plate

ETH in Mellieha is the latest in a long line of NFT experiments that aim to challenge traditional values and concepts of art and ownership. This particular project is being advised by Mamo TCV Advocates, one of Malta’s leading law firms. At the core of ETH in Mellieha is an Oil Painting that No Longer Exists Local artist Debbie Bonello was commissioned to create an oil painting of a car that featured ETH on its number plate. After the painting was finished, it was to be burnt during a ceremonial…

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Valkyrie Files for ETF That Invests in Firms That Derive 50% Revenue From Bitcoin Mining Industry

The digital currency asset manager Valkyrie has applied for an exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The fund plans invest at least 80% of its net assets into firms that derive at least 50% of their revenue from the bitcoin mining industry. Valkyrie’s Proposed ETF Targets the Bitcoin Mining Industry The crypto asset manager Valkyrie has applied for a new crypto-focused ETF that focuses on the bitcoin mining sector. Valkyrie is well known for launching the second bitcoin futures ETF under the ticker “BTF,” after…

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Study Shows Dogecoin, XRP Saw Largest Network Fee Increases Last Year

There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of metrics have changed. A recent report from forexsuggest.com shows that dogecoin fees saw the largest increase since January 1, 2021, jumping 4,230% in a year. Ethereum’s transaction fees were the most expensive at the end of 2021, as the average transfer fee was $52.45 per transaction. Dogecoin, XRP, Blackcoin Saw the Highest Transfer Fee Rises in 12 Months Digital currencies saw significant growth last year in terms of value and…

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Technical Analysis: Cosmos Decline Continues, as Polygon Surges

Ahead of Wednesday’s FOMC meeting, cryptocurrency markets were once again trading higher, with polygon (MATIC) being one of today’s biggest gainers. Despite the top 20 mainly trending upward, some in this list were mainly lower during the course of the session. Biggest Gainers Polygon (MATIC), which was one of the biggest gainers within the top 20, was up by as much as 12% in Wednesday’s session, hitting an intraday high of $1.72 in the process. The move saw MATIC/USD bounce from its support level of $1.49, and attempt to make…

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FTX US Raises $400 Million in Series A, Trading Platform’s Valuation Now $8 Billion

On January 26, the crypto asset exchange FTX US revealed it raised $400 million in a Series A financing round stemming from investors like Softbank, Paradigm, and Multicoin Capital. The Series A investment in FTX US brings the U.S.-based trading platform’s post valuation to $8 billion. FTX US Reveals $400 Million Capital Raise, Firm Aims to Expand Staff to ‘100-Strong’ Following parent company FTX raising $420.69 million three months ago, the U.S.-based trading platform FTX US announced it has raised $400 million in a Series A funding round. The Chicago-based…

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Mark Zuckerberg’s Meta in Talks to Sell Assets in Crypto Project Diem: Report

Meta, formerly Facebook, is reportedly in talks with investment bankers to sell its assets in the cryptocurrency project Diem, formerly Libra. The diem USD stablecoin was supposed to be issued by Silvergate Bank but it failed to get regulatory approval. Meta Reportedly Seeking Buyers for Diem Crypto Project Mark Zuckerberg’s Meta, formerly Facebook, is trying to sell its assets in the cryptocurrency project Diem, formerly Libra, Bloomberg reported Tuesday, citing people familiar with the matter. Meta owns about a third of the venture; the rest is owned by other members…

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Bitcoin, Ethereum Technical Analysis: ETH Nears 10% Gain, BTC Inches Toward $40,000

Days after falling to a 6-month low, bitcoin rose for a second consecutive session, as prices slowly approached its key level of $40,000. Today’s gain in BTC comes as the global crypto market cap was 4.7% higher from yesterday’s session, as of writing. Bitcoin The world’s largest cryptocurrency hit an intraday high of $38,415.90 on Wednesday, which is its highest level in the last six sessions. Today’s move comes as the 14-day RSI on BTC/USD broke out of its recent resistance level of 30, which typically signifies prices being oversold,…

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Thailand Announces Cryptocurrency Will Be Regulated as Means of Payment

Thailand has announced that cryptocurrency will be regulated as a means of payment for goods and services “to avert potential impacts on the country’s financial stability and economic system.” The announcement was issued by the Bank of Thailand, the Thai Securities and Exchange Commission, and the Ministry of Finance. Cryptocurrency Will Be a Means of Payment in Thailand The Bank of Thailand (BOT), the Thai Securities and Exchange Commission (SEC), and the country’s Ministry of Finance (MOF) jointly announced Tuesday their plan to regulate cryptocurrency as a means of payment.…

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EverRise Expands DeFi Security Infrastructure to Fantom and Avalanche

PRESS RELEASE. EverRise, the blockchain bridging and security solution provider that brought the buyback to crypto, expanded to the Fantom and Avalanche blockchains over the weekend. With the addition of these two blockchains, the EverRise token (RISE) and ecosystem is now available on a total of 5 blockchains. The Fantom and Avalanche blockchains offer EverRise an exciting opportunity to make their dApps more widely available. Fantom’s mainnet was launched in December 2019 and their TVL recently surpassed Binance Smart Chain. The Avalanchemainnet launched in September 2021 and currently supports over…

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Kazakhstan Shuts Down Crypto Mining Farms Till February

Data centers minting cryptocurrencies in Kazakhstan were cut off from the nation’s power grid this week and will remain unplugged for the rest of January. The measure comes as the country faces electricity shortages blamed on crypto mining and blackouts in the cold winter months. Crypto Miners in Kazakhstan Left Without Power Bitcoin mining facilities in Kazakhstan were disconnected from the electricity supply on Monday, Jan. 24, and will remain shut down through Jan. 31, local media revealed. The restrictions have been imposed after the state-run grid operator, KEGOC, issued…

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Samsung Provides a Glimpse Into the South Korean Metaverse and NFT Craze

At the very beginning of 2022, South Korean tech giant Samsung announced its foray into the metaverse and a new “NFT Aggregation Platform” designed for its smart TVs. In addition to the NFT TVs, Samsung also launched a virtual experience inside of Decentraland, one of the most popular metaverse gaming platforms. It’s high time we had a peek at the South Korean NFT world to see the latest developments. Samsung NFT TV and Presence in Decentraland The idea of the metaverse is no longer the distant, dreamy vision shared only…

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Belarus to Remain Crypto-Friendly as Ally Russia Mulls Blanket Ban

Authorities in Belarus have no intentions to adopt stricter rules for the country’s crypto space. That’s despite neighboring Russia, a close partner in many areas, considering a blanket ban on а number of activities related to cryptocurrencies as suggested by the central bank in Moscow. Belarus to Keep Favorable Crypto Regulations Officials in Belarus do not plan to tighten the country’s regulatory framework for the crypto sector, a statement has indicated. This comes as Russia, which is a close economic ally, is mulling over a proposal to impose harsh restrictions…

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Net Inflows Into Largest Gold ETF Surge Amidst Falling Stocks and Crypto Prices

Net inflows into SPDR Gold Shares surged to a new record of $1.63 billion, the highest since its listing in 2004. The surge of net inflows into one of the largest gold exchange-traded funds (ETFs) comes against a backdrop of falling cryptocurrency and stock values. Investors More Bullish on Gold One of the world’s largest gold ETFs, SPDR Gold Shares, recently recorded a net inflow of $1.63 billion, the highest since its listing in 2004, a report has said. Friday’s record inflow, which comes as stock and crypto prices have…

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Ken Kutaragi, Father of the Sony Playstation, Criticizes Current Metaverse Push

Ken Kutaragi, father of the Sony Playstation, has issued his opinion about the metaverse narrative currently developing on the market. The former executive of Sony stated that he saw no point in the metaverse idea of separating the real world from the virtual one. Playstation Inventor Bashes Current Metaverse Conception Ken Kutaragi, one of the inventors of the Sony Playstation, has criticized the conception of the metaverse that some companies are currently pushing. Kutaragi stated in an interview with Bloomberg his opinion about how the metaverse is being conceived, declaring…

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Binance Becomes Main Sponsor of Argentinian Soccer Association

Cryptocurrency exchange Binance has signed a partnership agreement with the Argentinian Soccer Association (AFA), one of the biggest soccer federations in the world, to become its main sponsor. With this deal, Binance will become the main sponsor of all the Argentinian national soccer teams for the next five years and will issue a new fan token. The AFA has previously issued such an asset in partnership with Socios, another fan token platform. Binance Inks Sponsorship Deal With Argentinian Soccer Association Binance, one of the leading cryptocurrency exchanges by volume traded,…

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‘Arivaman’ to Travel the World in a Unique and Innovative Way

PRESS RELEASE. As the new year gets underway, there has been a lot of speculation and interest regarding what role the metaverse, crypto and VR (Virtual Reality) will play going forward. After all, our society is becoming increasingly digitised and the COVID-19 global pandemic is still very much ongoing. As a result, there is a clear need for everyone to continue to live their lives but in a vastly different way than before, and that is exactly where Ariva Digital comes into play. Understanding Ariva Simply put, Ariva can be…

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