Bermuda confirms crypto hub ambitions despite market downturn

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The Bermuda government is pushing on with its ambitious plans to become a cryptocurrency hub despite the massive market downturn in 2022. The small island territory known for its pristine pink sand beaches and attractive taxation policies has been actively expanding its crypto sector since 2017, according to Bermuda’s Minister of Economy and Labor Jason Hayward. He noted on...

Social media blamed for $1B in crypto scam losses in 2021

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The United States Federal Trade Commission has labeled social media and crypto a “combustible combination for fraud,” with nearly half of all crypto-related scams originating from social media platforms in 2021. Published on Friday, the report found that as much as $1 billion in crypto has been lost to scammers throughout the year, which was more than a five-fold increase...

What happens to crypto seized in criminal investigations?

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Earlier this year, during the annual Queen’s Speech in the United Kingdom, Prince Charles informed the Parliament about two bills. One of them — the Economic Crime and Corporate Transparency Bill — would expand the government’s powers to seize and recover crypto assets.Meanwhile, the United States Internal Revenue Service (IRS) seized more than $3 billion worth of crypto in...

BTC, ADA, XLM, XMR, MANA

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The bears are trying to extend Bitcoin’s (BTC) record of nine consecutive red weekly candles to ten weeks, but the bulls are trying to avert this negative occurrence. Although sentiment remains negative, Arthur Hayes, former CEO of derivatives giant BitMEX, anticipates Bitcoin to bottom out in the range of $25,000 to $27,000.On-chain data from Glassnode shows that thsmart money...

3 reasons Ethereum price risks 25% downside in June

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Ethereum’s native token Ether (ETH) has dropped more than half of its value in 2022 in dollar terms, while also losing value against Bitcoin (BTC) and now remains pinned below $2,000 for several reasons. What’s more, ETH price could face even bigger losses in June due to another slew of factors, which will be discussed below. Ethereum funds lose capital en...

Who accepts Bitcoin as payment?

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This is a list of some of the biggest places that accept Bitcoin, such as Microsoft and Whole Foods.  First, we’re going to take a look at businesses that accept Bitcoin. There are some early adopters, but most of them recently started to accept payments using this digital currency. These major companies are the ones where you can...

Bitcoin price needs to close above $29,450 for its first green weekly candle since March

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Bitcoin (BTC) kept traders guessing into the June 5 weekly close as BTC price action closely mimicked last weekend.BTC price traders $300 in the greenData from Cointelegraph Markets Pro and TradingView showed BTC/USD circling its May 30 opening level at the time of writing, just $300 higher than seven days ago.With hours to go before the weekly candle closed, the...

Bitcoin ATM installations record low in May, biggest drop since 2019

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Bitcoin (BTC) ATM installations across the globe have seen a steep decline throughout the year 2022, with May recording just 202 new BTC ATMs, a range last seen three years ago in 2019.Since January, Bitcoin ATM installations saw a gradual slowdown, eventually falling down 89.75% from December 2021’s 1,971 new installations. However, data from Coin ATM Radar reveals an evident...

Global Web3 metaverse and tax initiatives continue in the face of a market meltdown

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In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.In 2021, nonfungible tokens became the biggest disrupter in art, with artists minting, exhibiting and auctioning them and investors buying, selling and...

Yuga Labs’ BAYC, OtherSide Discord groups breached, over 145 ETH stolen

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Yuga Labs, the creator of two of the most popular ape-themed nonfungible token (NFT) offerings — Bored Ape Yacht Club (BAYC) and OtherSide — witnessed yet another orchestrated phishing attack, with investors losing over 145 Ether (ETH) or nearly $260,000 at the time of writing.OKHotshot, a blockchain detective and a member of the Crypto Twitter community, alerted crypto investors...