Author: Oscar
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Mudrex Temporarily Suspends Crypto Withdrawals Amid Rapid Growth
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Indian crypto exchange Mudrex has temporarily paused cryptocurrency withdrawals, citing compliance upgrades to prevent misuse by malicious actors. The move comes amidst a remarkable 200% surge in its user base this year. Compliance Upgrades to Curb Misuse Mudrex’s co-founder Alankar Saxena announced on January 12 via X (formerly Twitter) that the pause in withdrawals is…
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Crypto Markets Slip as Strong US Jobs Data Sparks Rate Hike Fears
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The United States economy added 256,000 jobs in December, far exceeding economists’ forecast of 160,000, according to the Bureau of Labor Statistics. This uptick marks a significant rise from November’s revised 212,000 figure. The unemployment rate also unexpectedly dipped to 4.1%, below the anticipated 4.2%, signaling a robust labor market. These strong figures challenge the…
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Bitcoin Faces Potential Consolidation Amid Hawkish Fed Policies
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The start of 2025 has been turbulent for Bitcoin, with a bearish outlook dominating the market. According to Matrixport’s latest report, global liquidity trends and macroeconomic challenges could lead the cryptocurrency into a consolidation phase. The Federal Reserve’s increasingly hawkish policies appear to be a key factor influencing Bitcoin’s near-term price trajectory. Fed’s Hawkish Stance…
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Trump’s Bitcoin NFT Collection: Exclusive Cards Spark Excitement
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Donald Trump has entered the Bitcoin Ordinals space with a highly exclusive NFT collection, marking his fifth NFT release. This latest venture highlights Trump’s evolving presence in the crypto world as his digital collectibles continue to attract attention. Trump’s Bitcoin Ordinals Debut The newly minted collection, named “Trump Bitcoin Digital Trading Cards,” consists of just…
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Crypto Scams and Hacks Surge to Over $3 Billion in 2024
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The cryptocurrency industry suffered significant setbacks in 2024 as losses from hacks and scams surged to $3.01 billion, marking a 15% increase from the $2.61 billion recorded in 2023, according to data from blockchain forensic firm PeckShield. Decentralized finance (DeFi) protocols remained the primary targets, while security vulnerabilities in both DeFi and centralized platforms were…
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Dogecoin Price Drops 6%, $35 Million Liquidated Amid Market Volatility
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Dogecoin (DOGE), the largest meme coin in the cryptocurrency market, has faced a significant downturn, falling by 6% on January 8, 2025. This decline marks its lowest point in almost a week, with the price dropping to $0.3415. As sentiment worsens across the crypto space, the question remains: will Dogecoin bounce back? Price Decline and…
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Bitcoin and Ether Dip Amid Inflation Fears and Market Volatility
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Bitcoin and Ether prices experienced a sharp decline on Wednesday, reversing gains made earlier this week. Bitcoin dropped 5% to $96,527 after briefly surpassing the $100,000 mark, while Ether tumbled 8.5% to $3,353. Other major cryptocurrencies, including Dogecoin and Avalanche, also faced double-digit losses. The Block’s GMCI 30 index, which tracks the top 30 cryptocurrencies,…
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Backpack Exchange Acquires FTX EU for $32.7 Million to Launch Regulated Crypto Derivatives in Europe
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Backpack Exchange, a crypto trading firm founded by former Alameda Research and FTX employees, has acquired the European arm of the bankrupt FTX for $32.7 million. The acquisition of FTX EU, which holds a MiFID II-license under the Cyprus Securities and Exchange Commission (CySEC), marks a strategic move for Backpack to expand its offerings in…
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Ripple Overtakes Ethereum as South Korea’s Second Favourite Cryptocurrency
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A recent survey reveals that Ripple (XRP) has surpassed Ethereum (ETH) as the second-most preferred cryptocurrency among South Korean investors, while Bitcoin (BTC) retains its top position. Bitcoin Leads, XRP Climbs to Second Place Between December 24 and 26, 2024, Korean news outlet News1 surveyed over 5,220 investors about their preferred cryptocurrencies. The poll focused…
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Shiba Inu Surges as Binance Leads Trading Frenzy
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Shiba Inu (SHIB), the second-largest meme coin, has seen a remarkable surge in price and trading activity, driven by intense activity on Binance, the world’s largest cryptocurrency exchange. A staggering 379.27 billion SHIB tokens were traded on the platform in the past 24 hours, fueling optimism in the crypto market. Heightened Trading Activity on Binance…