Author: Oscar
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Russia Turns to Bitcoin for International Trade Amid Sanctions
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In a bold move to counter Western sanctions, Russia has begun using Bitcoin and other cryptocurrencies to facilitate international trade. Finance Minister Anton Siluanov confirmed this significant shift, emphasizing its potential to reshape the country’s economic strategy. Bitcoin to Circumvent Sanctions Following severe sanctions over its invasion of Ukraine, including being cut off from SWIFT,…
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DMM Bitcoin Hacked: SBI to Absorb Exchange Amid $320M Breach Fallout
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Japanese financial giant SBI VC Trade has announced a deal to acquire the assets and customer accounts of DMM Bitcoin, the crypto exchange crippled by a devastating hack earlier this year. Starting March 8, 2025, DMM’s customers and their assets will be automatically transitioned to SBI accounts, requiring no action on their part, according to…
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Russia Imposes Six-Year Crypto Mining Ban in Key Regions
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Russia has announced a six-year ban on cryptocurrency mining in ten regions, alongside seasonal restrictions in other areas, to mitigate energy consumption issues and align with new crypto mining laws. 10 Regions Face Complete Mining Ban Starting January 1, 2025, cryptocurrency mining will be prohibited in ten Russian regions, including Dagestan, Ingushetia, Kabardino-Balkaria, and Chechnya.…
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India Risks $2 Billion in Tax Revenue as Crypto Traders Flee Offshore
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India’s tax policies on cryptocurrency are pushing traders to offshore platforms, risking a loss of over $2 billion in tax revenue over the next five years, a new report from Indian think tank Esya Centre reveals. Since July 2022, the government has already missed collecting over ₹6,000 crore ($724 million) in taxes from virtual digital…
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Solana Dips Below $200: Technical Indicators Suggest Potential Recovery
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Solana (SOL), one of the leading cryptocurrencies, recently experienced a sharp price decline, dropping below the critical $200 support level. Amid a market-wide sell-off, SOL’s price has shown signs of potential recovery, offering hope for investors. Market Downturn and Fed Impact The broader cryptocurrency market faced turbulence following the Federal Open Market Committee (FOMC) meeting.…
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Tether Makes $775M Investment in Rumble, Championing “Freedom Tech”
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Tether, the stablecoin giant, has announced a $775 million investment in Rumble, a video platform favoured by right-wing influencers. This marks Tether’s second major venture outside of cryptocurrency, following its September 2023 stake in cloud and AI firm Northern Data. Tether CEO Paolo Ardoino described the move as part of the company’s broader strategy to…
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PEPE Whale Stuns Binance with $2.72M Deposit Amid Market Dip
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A notable transaction involving 150 billion PEPE tokens has drawn attention from the cryptocurrency community. A PEPE whale, previously seen withdrawing the same amount, recently deposited the tokens on Binance, sparking speculation about their trading strategy. Whale Deposits 150 Billion PEPE on Binance On-chain analytics platform Lookonchain reported that a PEPE whale transferred 150 billion…
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Crypto Thefts Surge to $2.2bn in 2024, North Koreans Lead the Way
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In 2024, cryptocurrency theft reached a staggering $2.2bn, marking a 21% increase from the previous year. According to blockchain analytics firm Chainalysis, North Korean hackers were responsible for 61% of these stolen funds. This year also saw an increase in incidents, with 303 hacks compared to 282 in 2023, making it the fifth time in…
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Trump Champions Crypto Leadership at Washington Policy Summit
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At the Washington Crypto Policy Summit hosted by the Blockchain Association, President Donald Trump reiterated his administration’s commitment to establishing the U.S. as a global leader in the cryptocurrency space. In his goodwill address, Trump highlighted the importance of fostering innovation within the U.S. to prevent the dominance of competitors like China. “Our business must…
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Pudgy Penguins’ PENGU Token Debuts with $312M Market Cap
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The NFT project Pudgy Penguins has launched its native token, PENGU, with remarkable success. Released via an airdrop, the Solana-based token has captivated the crypto community, achieving significant milestones in its early trading hours. A Strong Debut: $312M Market Cap PENGU made its entry with a market capitalization of $312 million, reflecting widespread enthusiasm among…