Latam Insights: Venezuela to Leverage USDT for Sidestepping Sanctions, Chivo Wallet Disregards Hacking Allegations
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuelan oil company PDVSA could use USDT to sidestep U.S. sanctions, Chivo Wallet denies hacking…
Veteran Trader Peter Brandt Suggests BTC May Have Topped, Predicts a Decline to Mid-$30K
According to veteran pro trader Peter Brandt, bitcoin may have peaked when it achieved a new all-time high of $73,835. However, there is a possibility that it could now decline to the mid-$30s or even lower, Brandt said. Interestingly, Brandt…
Does Money Transmitting Require Control? DOJ Says No in Tornado Cash Litigation
Since the Department of Justice (DOJ) filed its legal opposition to the pretrial motions of Tornado Cash developers Roman Storm and Roman Semenov, there has been a buzz within the cryptocurrency community regarding specific aspects of the court…
South African BTC Ponzi Scheme Mastermind Succumbs to Heart Attack While Detained in Brazil
Johann Steynberg, the mastermind behind a South African bitcoin Ponzi scheme, recently died of a heart attack while under house arrest on a farm in Brazil. According to his Brazilian wife, Steynberg left no will and had no assets that could be…
Japan’s Web3 Ambitions Hang in Balance as Political Scandal Rocks Kishida’s Leadership
Japan’s Prime Minister Fumio Kishida and the ruling Liberal Democratic Party are advocating Web3 development amid a major corruption scandal that threatens their political stability. With leadership elections approaching in September and…
Former Openbazaar Dev Chris Pacia Blasts Lightning Network: Experts Knew It Would Work ‘Like Dog Sh*t’
Chris Pacia, the former lead developer of the now-defunct decentralized marketplace Openbazaar, has criticized the process that led to the proposal of Bitcoin’s lightning network (LN) as a scaling solution. Pacia stated that technical…
Former President Donald Trump’s Advisers Explore Penalties for Nations Ditching US Dollar
Former U.S. President Donald Trump’s economic advisers are reportedly devising strategies to deter nations from reducing their reliance on the U.S. dollar. Proposed deterrents include export controls, currency manipulation charges, and…
Analyst Eyes $300K Bitcoin Price as BTC Approaches ‘Most Aggressive Part of the Bull Cycle’
A technical analyst has highlighted that bitcoin is approaching “the point where historically the most aggressive part of the bull cycle begins,” forecasting a potential rise to $300,000 for the cryptocurrency. “Unrealistic or…
Solana Advances Congestion-Alleviating Central Scheduler Feature to Testnet
Anza, a dev collective behind Solana, recommended the adoption of Agave v1.18.12 into the blockchain’s devnet and testnet. This new version of the mentioned client ships with a central scheduler that aims to reduce congestion by increasing…
‘Globalist Power Is No Longer a Moral Authority’: Amir Taaki Responds to Samourai Charges
In an era increasingly defined by surveillance and oversight, Amir Taaki stands out as a key figure in the Bitcoin movement, sounding a clarion call for crypto awareness following the indictment of Samourai Wallet. Taaki’s latest initiative…
Liquid Staking Platforms See 60,000 ETH Outflow in 2 Weeks; Lido Dominates Reductions
In the last two weeks, liquid staking derivative (LSD) protocols have experienced a decline of 60,000 ether valued at over $198 million, with Lido accounting for 40,000 of the ETH withdrawn. LSD Sector Snapshot: $198 Million Ether Withdrawn in 2…
Japanese Yen Tumbles to 34-Year Low Against Soaring US Dollar
This week, the Japanese yen plummeted to its lowest point since 1990 against the U.S. dollar, weighed down by Japan’s monetary policy and uncertain economic indicators from the United States. Japanese Yen’s Rapid Decline Triggers Talk…
Financial Squeeze Tightens for Bitcoin Miners as Earnings Continue to Fall
On Friday, Bitcoin’s hashprice was $56.95 per petahash per second (PH/s), but by Sunday, it had dropped to $51.66 per petahash. Over the last 100 blocks, bitcoin miners averaged about 3.55 BTC for each block they mined, indicating that…
Dimon Doubles Down on Bitcoin Dislike, SBF to Aid Legal Action Against Celebrities, and More — Week in Review
JPMorgan Chase CEO Jamie Dimon has reiterated his critical stance on bitcoin, labeling it a fraud and dismissing its potential as a legitimate currency. Former FTX CEO Sam Bankman-Fried has agreed to a settlement that involves cooperating with…
Nigerian Currency Reverses Early April Gains, Depreciating by 12% in Seven Days
The Naira recently depreciated by 12% in just seven days, thus shedding all the gains it made against the U.S. dollar in early April. Local media reports attribute the volatile naira’s latest drop to the growing mismatch between the supply and…
FBI Warns Against Using Unregistered Cryptocurrency Money Transmitting Services
The Federal Bureau of Investigation (FBI) has issued a warning about using unregistered cryptocurrency money transmitting services that fail to comply with U.S. anti-money laundering laws. The agency has provided tips for the public to protect…
Rich Dad Poor Dad Author Robert Kiyosaki Declares US Economy in a Depression
Rich Dad Poor Dad author Robert Kiyosaki has issued a stark warning that the U.S. economy is currently in a depression. He points to the subpar economic growth, with a 3.4% increase in GDP for Q4 2023 and a 1.6% rise in Q1 2024 as clear indicators…
DOJ Counters Motion to Dismiss Charges Against Tornado Cash Developer
In a notable development, the U.S. Department of Justice (DOJ) has countered a motion to dismiss the criminal charges against Roman Semenov, a developer of the cryptocurrency mixing service Tornado Cash, highlighting the alleged strength of its…
Scammers Trick Crypto Users With Faked USDT Balances, Slowmist Reports
Slowmist, teaming up with Imtoken, has exposed a new cryptocurrency scam exploiting offline transactions and using USDT, where scammers manipulate Ethereum RPC to falsify USDT balances in the victim’s wallet. The con artists coax victims…
Zksnacks Bars US Users from Wasabi Wallet in Wake of Samourai Indictment
In a decisive move, Zksnacks announced on Saturday that it will block all U.S. residents and citizens from accessing its bitcoin mixer, Wasabi Wallet. This policy change comes as U.S. authorities intensify their crackdown on unregulated crypto…
Crypto Community Loses OXT Analysis Tool Amid Legal Troubles for Samourai Wallet
After the Samourai Wallet indictment, the cryptocurrency community discovered that the Bitcoin blockchain analysis platform OXT is no longer operational, as it was acquired by the Samourai team in December 2017. On April 25, Laurentmt, a co-founder…
Amid Shifts in Bitcoin Mining Economics, Steep Discounts Emerge for Older ASIC Rigs
According to current metrics, older bitcoin mining rigs are not generating the same revenue as they did before the halving, particularly with the hashprice at approximately $0.056 per terahash per second (TH/s) per day. On April 25, Luxor…
While sales of non-fungible tokens (NFTs) have declined by over 38% in the past 30 days compared to the previous month, NFTs minted on the Bitcoin blockchain have dominated, accounting for more than 44% of sales. Statistics from the last 30 days…
Philadelphia’s Republic First Bank Closed by Regulators, Assets Assumed by Fulton Bank
In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The Federal Deposit Insurance Corporation (FDIC) has stepped…
Bitcoin Sees Rise in Sell Calls Amid Expectations of Asian Institutional Boost
Over the past week, bitcoin has exhibited a downward trend, with its price stabilizing at around $62,950 to $63,125 per unit as of April 27. Despite this dip, the Crypto Fear and Greed Index remains firmly in the “greed” sector…
Prioritizing First-Mover Advantage Over Security Leaves Defi Protocols Vulnerable to Hacks – Nikita Ovchinnik
According to Nikita Ovchinnik, founder of Barter Defi, decentralized finance (defi) protocols are increasingly becoming the primary target of most hacking attacks because defi “lays bare its inner workings for all to see.” He said the…
TOKEN2049 Dubai Hailed as an Outstanding Success, with 10,000 Attendees
PRESS RELEASE. Dubai, UAE — April 27, 2024 — TOKEN2049, the premier crypto event, saw record-breaking success for its inaugural Dubai conference, which took place from April 18-19, during TOKEN2049 Week. Throughout the event…
The balance between privacy and regulatory compliance in the crypto world is increasingly threatened as high-profile cases, such as the sanctions against Tornado Cash and the legal troubles of Samourai Wallet, come to the fore, prompting a robust…
Study: Half of Canadian Institutional Investors Actively Offered One Crypto Asset Product in 2023
According to a recent survey, half of Canadian institutional investors and financial services organizations have actively offered at least one type of cryptocurrency asset product or service to clients in the past year. The study revealed that half…
A16z Exec Blasts Meme Coins: They Make Crypto Look ‘Like a Risky Casino’
Eddy Lazzarin, CTO of A16z Crypto, one of the largest cryptocurrency-focused venture capital funds, has criticized the meme coins’ effect on the broad appreciation of the cryptocurrency market. Lazzarin stated that meme coins undermined the…
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