Author: Press Room

Source: AdobeStock / adraganGet your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________Legal newsThe Australian Securities and Investments Commission (ASIC) is suing Block Earner, alleging that the fintech company provided unlicensed financial services and operated “an unregistered managed investment scheme.” Per the announcement, the “ASIC is seeking declarations, injunctions, and pecuniary penalties from the Court.”Security newsBo Shen, the founding partner of venture capital firm Fenbushi Capital, revealed that hackers stole $42 million in crypto from his personal wallet on November 10. Most of the stolen funds, some $38…

Read More

Despite Japan’s uncertainty on whether to issue a central bank digital currency (CBDC), the Bank of Japan (BoJ) continues experimenting with a potential digital yen.The Japanese central bank has started a collaboration with three megabanks and regional banks to conduct a CBDC issuance pilot, the local news agency Nikkei reported on Nov. 23.The pilot aims to provide demo experiments for the issuance of Japan’s national digital currency, the digital yen, starting in spring 2023.As part of the trial, the BoJ is expected to cooperate with major private banks and other organizations to detect and solve any issues related to customer…

Read More

Source: AdobeStock / phonlamaiphotoBitcoin (BTC) mining firm Core Scientific could be next in line for a bankruptcy filing, after posting a loss of well over $400m in the third quarter.The company, which is known as the largest publicly listed Bitcoin miner in the US, has now lost a whopping $1.7bn for the year after a new SEC filing revealed a third quarter loss of $434m.“Management has been actively taking steps to decrease operating costs, eliminate and delay construction expenses, reduce and delay capital expenditures and increase hosting revenues,” the company commented in the latest filing.It added that certain debt payments…

Read More

The ongoing crypto bear market has proven itself to be a builders market as investments continue to find projects with promise.Onomy, a Cosmos blockchain-based ecosystem, just secured millions from investors for the development of its new protocol. The project merges decentralized finance (DeFi) and the foreign exchange market to bring the latter on-chain.According to the developers, the latest funding round garnered $10 million from big industry players such as Bitfinex, Ava Labs, the Maker Foundation and CMS Holdings among others. Lalo Bazzi, co-founder of Onomy, said the underlying goal of building a decentralized autonomous organization with a public infrastructure should…

Read More

Sam Bankman-Fried. Source: a video screenshot, HBO / YouTubeA modified video of Sam Bankman-Fried, founder and former CEO of collapsed crypto exchange FTX, is trying to trick users into a fake crypto giveaway to potentially steal their funds. Over the weekend, a deepfake video impersonating SBF was circulating on Twitter. To make the fake video more believable, scammers managed to use a Twitter blue account and mimic SBF’s real account.In the video, Bankman-Fried appeared to offer “compensation” for users who lost their funds in the fallout of FTX by doubling their cryptocurrency in a typical giveaway scam.“Hello everyone. As you know…

Read More

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.The number of sales for Art Blocks Explorations is up. ProsperCircle data shows that the NFT project has made a total of 693 sales in the last 24 hours. The floor price for the collection is currently 0.160 ETH with a total of 242 owners. The highest price for the collection in the last 24 hours is 1.6 ETH. What is Art Blocks Explorations?Art Blocks Explorations is an NFT project meant to give life to the compelling works of contemporary generative…

Read More

Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse.Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of Decentralized Finance (DeFi), with a specific focus on the movement of ETH and stablecoins from exchanges.As it stands, the Ethereum 2.0 deposit contract contains over 15 million ETH while some 4 million Wrapped ETH are held in the WETH deposit contract. Web3 infrastructure development and investment firm Jump Trading holds over 2 million ETH tokens and is the third largest holder…

Read More

Source: AdobeStock / Vladimir KazakovTornado Cash developer Alexsey Pertsev will remain in jail for another three months after being charged with money laundering allegations for the development of the mixing service. Pertsev, who has been held in detention for the past 100 days, was arrested by Dutch authorities over alleged involvement in the Tornado Cash crypto mixing service days after the U.S. Treasury sanctioned the crypto mixing service. Dutch public prosecutor Martine Boerlage announced money-laundering charges against Pertsev for the first time at the hearing on Tuesday. He accused Pertsev of facilitating the processing of dirty money by writing the Tornado Cash code.According to…

Read More

Amid the crypto market downturn, El Salvador finally makes a decisive step to the realization of its ambitious “Bitcoin bonds” project. The Minister of the Economy Maria Luisa Hayem Brevé introduced  a bill confirming the government’s plan to raise $1 billion and invest them into the construction of a “Bitcoin city.”A 33-page digital securities bill, dated Nov. 17, urges lawmakers to create a legal framework using the digital asses in public issuances by El Salvador. They should also consider all the requirements for this procedure and the obligations of issuers and asset providers. The “volcano bonds” or “Bitcoin bonds” were…

Read More

Bitcoin (BTC) hodlers may need to triple their on-chain losses for BTC price to put in a macro low.According to market research firm Baro Virtual, the 2022 bear market is not yet harsh enough to match historical downtrends.Bitcoin losses “only” total $671 millionWith analysts predicting a return to $14,000 or lower for BTC/USD, the question of where Bitcoin will bottom is one of the hottest topics in the space this month.For Baro Virtual, which analyzed data from on-chain analytics platform Whalemap, it may be a matter of simple arithmetic.Taking Whalemap’s moving profit and loss (MPL) figures for on-chain BTC transactions,…

Read More