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Over the past 60 minutes, bitcoin’s trading value has fluctuated between $42,525 and $42,715, demonstrating a dynamic price range. Its 24-hour price swing extends from a low of $42,340 to a high of $43,853. Currently, bitcoin boasts a market capitalization of $834 billion, coupled with a relatively modest 24-hour trading volume of $18.33 billion. In the last 24 hours, the leading digital currency has seen a 2.4% dip, somewhat mitigated by a 5.9% rise over the week, underscoring the unpredictable nature of current market sentiment. Bitcoin As of Wednesday, the market mood remains predominantly pessimistic, swayed significantly by actions from entities such as the Grayscale Bitcoin Trust (GBTC). Nevertheless, several analysts perceive these present price levels as opportune moments for investment, with expectations of an imminent market rebound. Historically, bitcoin’s ability to swiftly bounce back from 20-30% drops is often regarded as an opportune moment for savvy investment decisions. Today’s Federal Open Market Committee (FOMC) meeting, where the Federal Reserve’s decision is highly anticipated, stands as a pivotal event that could markedly sway BTC’s market this week. Moreover, the expected rise in Bitcoin’s mining difficulty next week and the forthcoming block subsidy halving in April are poised to play influential roles in shaping the economic landscape of crypto this year. Bitcoin chart by TradingView A detailed examination of bitcoin’s oscillators on Wednesday shows a neutral to slightly bearish trend. The relative strength index presently sits at 52, Stochastic at 85, and the commodity channel index is at 60. Meanwhile, the momentum indicator points to negative sentiment at 992, contrasting with the moving average convergence/divergence (MACD) level, which highlights bullish signals at -181. These conflicting indicators suggest a market teetering on equilibrium, with potential shifts looming. The current moving averages (MAs) offer a more optimistic perspective. The market is still radiating positive vibes as indicated by the short-term exponential moving averages (EMAs) and simple moving averages (SMAs) for 10 and 20 days. However, there’s a noticeable split in the 30 and 50-day SMAs, revealing bearish trends, while their EMA equivalents continue to reflect bullish sentiments. This discrepancy underscores the prevailing uncertainty in the market. Upon analyzing the 1-hour, 4-hour, and daily charts, a recent upward trend is evident, originating from roughly $39,879 on Jan. 22, and reaching a peak near $43,853 on Jan. 30. Yet, this upward momentum appears to be reversing, as indicated by a rise in bearish volumes. The 1-hour chart offers a detailed snapshot of this volatility, whereas the 1-day chart reveals a more extended downtrend from the 2024 high of $49,048, recorded on the day the spot bitcoin exchange-traded funds (ETFs) were approved. Bull Verdict: Given the current market dynamics and technical indicators, there’s still a bullish case for bitcoin. The bullish signals from short-term moving averages, combined with bitcoin’s historical resilience and potential for recovery, support a positive outlook. Anticipation of favorable outcomes from key events, like the Federal Reserve decision and the impact of mining adjustments, could further bolster bullish sentiments. Bear Verdict: Conversely, the bearish perspective is grounded in the market’s recent volatility, negative market sentiment, and mixed signals from oscillators. The divergence in longer-term moving averages and the presence of bearish candlestick patterns on the charts signal a potential downturn. Additionally, external market pressures and uncertainties surrounding upcoming events could exacerbate bearish trends. Register your email here to get weekly price analysis updates sent to your inbox: What do you think about bitcoin’s market action on Wednesday? Share your thoughts and opinions about this subject in the comments section below. View the full article

A British citizen recently went on trial in the U.K. for laundering bitcoins on behalf of a fugitive Chinese fraudster, Yadi Zhang. Prosecutors insist that Jian Wen was aware that Zhang’s bitcoins were acquired using stolen funds. However, Wen defended her actions and said she thought Zhang had accumulated her wealth through her jewelry business, property portfolio, and bitcoin mining operation. Zhang’s Wealth Management Business A British-Chinese woman, Jian Wen, is on trial in the U.K. for allegedly laundering bitcoins that were sourced with $6.3 billion stolen from more than 128,000 investors in China. According to prosecutors, Wen is facing three charges of laundering money on behalf of the Chinese national Yadi Zhang. Zhang, a fugitive from justice, is said to have perpetrated the grand fraud via her bogus wealth management business between 2014 and 2017. Afterwards, she reportedly converted some of the stolen money to bitcoin (BTC) before leaving for London under a false identity. Upon arriving in the U.K., Zhang sought the services of Wen to convert her BTC into cash, jewellery, and other luxury items. The Crown Prosecution Service (CPS) alleges that Zhang’s ultimate objective was “to disguise the true source of the funds.” During the trial, Gillian Jones, who represented the CPS, stated that while Wen was not involved in the fraud, she may have known that Zhang’s bitcoins were proceeds from criminal activity. Jones urged the jury to ask Wen if she was aware of Zhang’s criminal activities. The lawyer argued that Wen, a naturalized British citizen, knowingly acted as a front for Zhang and was probably paid for it. However, Wen defended her actions and said she thought Zhang had accumulated her wealth through her jewellery business, property portfolio, and bitcoin mining operation. The trial is expected to run until early March, according to the report. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

South Korean cryptocurrency exchanges have successfully stopped romance scams and voice phishing criminals from siphoning digital assets worth over $82.6 million in the past year. The exchanges attribute their success in blocking criminals to abnormal transaction detection systems, which assist in flagging possible fraudulent transactions. Romance Scams on the Rise In 2023, South Korean cryptocurrency exchanges successfully stopped cybercriminals who targeted victims with romance scams and voice phishing from siphoning digital assets worth more than $82.6 million. The exchanges were reportedly able to achieve this by deploying the so-called abnormal transaction detection systems. According to a report by one local media outlet, such a system enables the exchange to monitor and flag possible romance scams and other suspicious transactions. A typical romance scam often involves a criminal using a fake social media profile to lure a victim into an online romantic relationship. After gaining the victim’s trust, the scammer will then ask them to send money to fraudulent websites that claim to trade foreign currency exchange or digital assets. As explained in the report, romance scams have emerged as one of the most rampant fraud tactics used by cybercriminals in South Korea. In the United States, the Commodities Futures Trading Commission (CFTC) recently warned investors to be vigilant when dealing with strangers who ask or invite them to invest in unregistered trading platforms. In South Korea, Coinone, one of the country’s top crypto exchanges, claimed it blocked romance scammers from accessing $2.6 million. As explained in the report, some of Coinone’s stringent requirements were instrumental in stopping scammers in their tracks. In one such case, an unnamed 60-year-old male was nearly conned of his entire cryptocurrency holdings by a romance scam group. “I am planning to send it to a friend who runs a beauty salon in Japan. She’s going to invest like this guy,” he reportedly said as he attempted to complete the transaction. However, Coinone ultimately blocked the transaction after it failed the verification process, the report said. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

The SEC alongside the DOJ, has levied serious charges against key figures in a $1.9 billion cryptocurrency fraud scheme involving Hyperfund. SEC and DOJ Crack Down on $1.9 Billion Hyperfund Crypto Fraud The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have taken major legal action against individuals involved in a massive $1.9 billion cryptocurrency fraud, encompassing a wide-reaching scheme known as Hyperfund, also referred to as Hyperverse, Hypertech, and Hypercapital. The DOJ announced criminal charges against two key figures and the guilty plea of a third in what is being described as a global Ponzi scheme. Australian citizen Sam Lee, residing in Dubai, and promoters Rodney Burton of Miami and Brenda Chunga of Severna Park, Maryland, face charges related to the scheme. Lee, 35, known as Xue Lee, is charged with conspiracy to commit securities fraud and wire fraud. Burton, 54, also known as “Bitcoin Rodney,” faces charges for operating an unlicensed money-transmitting business. Chunga, also known as Bitcoin Beautee, has pleaded guilty to conspiracy charges and has agreed to settle civil charges by the SEC. The SEC’s civil action mirrors these allegations, focusing on the fraudulent nature of the Hyperfund scheme, which collapsed in 2022. Investors were promised substantial returns from nonexistent cryptocurrency mining operations. The scheme, operational from June 2020 through November 2022, enticed investors with daily returns of 0.5% to 1%, purportedly through large-scale crypto mining. However, by July 2021, Hyperfund began blocking investor withdrawals. Hyperfund reportedly had a fake CEO and amassed nearly $2 billion fraudulently. The SEC alleges that the operation had no legitimate revenue source, using new investor deposits to pay earlier investors, a classic hallmark of a Ponzi scheme. Lee and Chunga are accused of using investor funds for lavish personal expenses. Chunga’s alleged expenditures include designer clothing, luxury cars, and properties in Maryland and Dubai. Lee is said to have transferred $140,000 in digital funds to a wallet under his control. Are you satisfied with the government’s response to crypto-based frauds like Hyperverse? Share your thoughts and opinions about this subject in the comments section below. View the full article

The United States’ sanctions against Russia are undermining confidence in the U.S. dollar and may force other countries to ditch the currency, a Russian financial analyst has said. The analyst said contrary to the West expectations, the sanctions against Russia have failed to destroy its economy. Russia’s Frozen Assets According to Alexander Razuvaev, a Russian economist and financial analyst, the United States sanctions policy against Russia will undermine the dollar’s position as the world reserve currency. Razuvaev cited the U.S. plans to transfer Russia’s frozen assets to Ukraine as an example of Washington’s actions that may result in more countries dumping the greenback. In his remarks published by a local publication, the financial analyst also referred to the U.S. Federal Reserve interest rate hikes as another act that is undermining the dollar’s reserve currency status. To counter these acts, Razuvaev suggested that Russia should double down on its ongoing effort to wean itself from the dollar-dominated financial system. Sanctions Have Failed to Destroy the Russian Economy Razuvaev predicted that countries like Turkey and Azerbaijan are likely to follow in China’s footsteps and may even settle trades using the digital ruble. According to the analyst, China has been dumping American bonds and paying for Saudi Arabian oil with its currency. After Russia invaded Ukraine in February 2022, Western countries led by the U.S. responded by imposing economic sanctions on Moscow. In addition, billions of dollars of Russian money held in foreign banks were frozen in what was seen as the West’s attempt to weaken Russia. However, despite the sanctions and asset freeze, Russia has continued its war against Kyiv, raising questions about the effectiveness of the punishment meted out so far. Meanwhile, Razuvaev is also quoted in the same report explaining his thoughts on the impact of the sanctions and how they have failed to destroy the Russian economy. “America’s actions undermine the authority of the dollar; they inflicted the strongest blow on their own. We will see this in gold prices if they rise sharply. The United States, I think, was counting on the destruction of the Russian economy within three to four months, and then wanted to return the assets,” Razuvaev said. He also intimated that the United States’ stance against Russia is akin to planting a bomb under the dollar. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

From purchasing cocaine to uncovering a multimillion-dollar glitch, the story of James “Jimmy” Zhong reads like a dark comedy. Zhong, a computer science graduate, exploited a vulnerability on Silk Road to steal over 50,000 bitcoin, evading detection for nearly a decade while living a life of luxury. The Unbelievable Tale of Jimmy Zhong: From Cocaine Purchase to Bitcoin Billionaire This is a tale tailor made for the Coen brothers, ala “Fargo” or “Burn After Reading.” James “Jimmy” Zhong, a 28-year-old University of Georgia computer science graduate, executed the largest bitcoin theft in history. From the infamous dark web market Silk Road, Zhong pilfered over 50,000 bitcoin, valued at approximately $3.4 billion in 2023. Recently, a poster on X that goes by the pseudonym BTCGandalf, recounted Jimmy’s story with colorful details. Read the thread for a story-like recounting with many more details than this brief summary. The Incredible Story of the Unlikely Man Who Stole 50,000 BTC ($3B) From the Silk Road 🧵 pic.twitter.com/mSwSPZPcPE — GANDALF (@BTCGandalf) January 26, 2024 Between 2012 and 2014, exploiting a flaw on the Silk Road, Zhong was able to drain the site’s hot wallet of its massive bitcoin stash, over 51,680 bitcoin. In one of those stranger-than-fiction moments, Zhong later confessed to discovering and exploiting the glitch on Silk Road after purchasing cocaine. Vinny D’Agostino, the FBI trial agent for the original Silk Road Case, said in a reply post to the thread that Ross Ulbricht, founder of Silk Road, “knew his security skills were weak and wanted to close any gaps. The loss of the 50,000 bitcoin was major.” D’Agostino provided an image of a spreadsheet Ross kept to log, among other things, his net worth. “The orange [is] his net worth, which took a big hit. All of this evidence was found on his Samsung 700z laptop which he was using at the time of arrest.” Despite his lavish spending and previous run-ins with the law, including a DUI and a felony drug possession charge, Zhong remained undetected for almost a decade. However, his luck ran out when two things happened in 2019. First, in March 2019 someone broke into his house stealing approximately $400,000 in cash and bitcoin. Inexplicably, Zhong called 911, asking the police to carry out an investigation. Second, around this time Zhong had made the mistake of transferring a small portion of his stolen bitcoin to a KYC-compliant exchange, catching the IRS’s attention. The subsequent investigation by IRS agents, collaborating with local Athens police, who had previously believed Zhong’s story of being a savvy bitcoin investor, launched a covert operation to unravel the truth. This culminated in a search of Zhong’s property in November 2019, which unveiled the majority of the stolen Silk Road bitcoin hidden in a popcorn tin. Zhong was arrested, pleaded guilty to one count of wire fraud, and in 2022 was sentenced to 366 days in prison. His lawyer was able to successfully argue it was a victimless crime, as he stole from a criminal enterprise. The rise and fall of James “Jimmy” Zhong was a comedy of errors. Or, as D’Agostino puts it, “[T]he fact that Jimmy called the cops after having some of his bitcoin stolen highlights how many cyber criminals (including Ross) were brilliant but lacked street smarts.” Do you think that Jimmy has some extra bitcoin squirreled away somewhere? Share your thoughts and opinions about this subject in the comments section below. View the full article

Breez Wallet, a Lightning Network (LN) focused wallet, has shown an implementation that allows users to receive LN payments without being online. The service, which will be included in an upcoming non-custodial wallet app, leverages the wallets’ own SDK using mobile notifications to receive this payment without requiring involvement from the recipient. Breez Presents Solution for Offline Lightning Network Payments Breez, a Lightning Network (LN) focused wallet, has shown its solution to tackle the problem of offline payments in the protocol. Due to its inner workings, both parties in a transaction need to be online when an LN payment happens, making its use cumbersome for some applications. However, Breez has used its software stack to engineer a solution that allows these payments to go through even with the receiving party being offline. The organization showed this solution in a post on X, where an unnamed upcoming non-custodial wallet by Breez receives an LN payment being offline using notifications. In an earlier post, Breez co-founder and CEO Roy Sheinfeld examined the alternatives for solving the offline payments problem in LN and described the one Breez is leveraging. Sheinfeld explained that Breez implemented push notifications in its latest SDK, which allows service providers to send messages to the app to receive the payment without user intervention, automatizing the task. Sheinfeld recognizes that this solution needs work from the developers, given they need to set up notification delivery services for these messages. However, this allows for a better user experience because the app doesn’t need to be active in the background to receive payments. Nonetheless, he also acknowledged the limitations of this solution, explaining that it depends on a notification service managed by a third party like Apple or Google, and called for implementing alternatives at a protocol level. He declared: Mobile notifications are an improvement, but not a cure-all. They only work on mobile devices, obviously, and this approach won’t work if the device is off or the user has disabled the notifications required. What do you think about Breez’s offline LN payments solution? Tell us in the comments section below. View the full article

Okx has said it will be adding support for four inscription token standards to its Web3 wallet at the beginning of and in late February. The Web3 firm has said the addition of inscription standards to its Web3 wallet and marketplace helps Okx drive the adoption of Web3 and power its next growth phase. Driving the Adoption of Web3 Okx, a Web3 technology company, announced on Jan. 29 that it will launch support for four new inscription token standards on its platform. The support will start with Bitcoin token standard and stamps (SRC-20) on Feb. 5, followed by atomicals (ARC-20), runes, and dogecoin’s doginals (DRC-20) later in the same month. According to a statement, Okx will also add DRC-20, ARC-20, and Runes standards to its marketplace in late February, enabling users to trade these inscriptions with zero fees. The Web3 firm has said its ultimate goal is to help drive the adoption of Web3 and power its next growth phase. Commenting on the addition of new inscription standards, which make Okx one of the leading one-stop inscriptions ecosystems in Web3, Okx Chief Technology Officer Jason Lau said: “Okx strives to drive mainstream adoption of technologies on the leading edge of Web3, and our new inscriptions ecosystem is evidence of our commitment to this mission. By empowering users to easily buy, sell, create, and trade leading token standards on one platform with zero trading fees, Okx is simplifying access and removing barriers so users can explore and realize the potential of inscriptions.” As per the statement, the Okx wallet’s inscriptions tool already supports the minting of inscriptions on 23 networks, including Bitcoin, Dogecoin, Ethereum, Polygon, BNB Chain, Avalanche-C, and Arbitrum One. In addition, the Web3 company’s inscription offering is said to be the industry’s most advanced, with liquidity across multiple inscription standards. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

An Indian national has pleaded guilty in a case involving “the largest single cryptocurrency and cash seizure” in the U.S. Drug Enforcement Administration (DEA) history. The defendant “is designated as a Consolidated Priority Target, which makes him one of the most significant drug trafficking threats in the world,” the U.S. Department of Justice (DOJ) described. This Case Involves Largest Single Cryptocurrency and Cash Seizure in DEA History, Says DOJ The U.S. Department of Justice (DOJ) announced Friday that a 40-year-old Indian national, Banmeet Singh, has pleaded guilty to “running a dark web narcotics conspiracy.” Specifically, he pleaded guilty to conspiracy to possess with the intent to distribute controlled substances and conspiracy to commit money laundering. The announcement details: According to the DEA, this case involves the largest single cryptocurrency and cash seizure in DEA history; the defendant has forfeited cryptocurrency accounts that ultimately became worth $150 million. According to court documents, Singh created vendor marketing sites on dark web marketplaces to sell controlled substances. Customers paid with cryptocurrency, and Singh personally shipped or arranged the shipment of controlled substances from Europe to the United States through U.S. mail or other shipping services. The DOJ explained that from at least mid-2012 through July 2017, Singh controlled at least eight distribution cells in various U.S. states. “Individuals in those distribution cells received drug shipments from overseas and then re-packaged and re-shipped the drugs to locations in all 50 states, Canada, England, Ireland, Jamaica, Scotland and the U.S. Virgin Islands,” the Justice Department noted. Singh was arrested in London in April 2019 and the government secured his extradition to the U.S. last year. DEA Special Agent in Charge Orville O. Greene commented: Banmeet Singh is designated as a Consolidated Priority Target, which makes him one of the most significant drug trafficking threats in the world. What do you think about this case? Let us know in the comments section below. View the full article

Veteran trader Peter Brandt has highlighted a bitcoin price pattern that frequently appeared in past major bull runs. “It is the Hump …Slump …Pump… Dump [HSPD] that keeps a bull trend healthy,” he explained, emphasizing: “Study past major bull runs in bitcoin and you will discover they were replete with HSPDs.” Bitcoin Bull Runs and HSPD Pattern Veteran trader Peter Brandt shared his observation about bitcoin’s price pattern he called the “Hump, Slump, Pump, Dump” (HSPD) on social media platform X Sunday. “The old ‘Hump with a Slump then a Pump and a Dump’ is back — and this is the price behavior that separates Chumps from their money,” the trader described. “Study past major bull runs in bitcoin (BTC) and you will discover they were replete with HSPDs. The Chumps FOMO [fear of missing out] buy the Pump only to puke out their purchases with the Dump.” Brandt opined: It is the Hump…Slump…Pump…Dump that keeps a bull trend healthy. Let’s see if HSPD works its magic once again. Brandt regularly provides analysis of bitcoin’s price. He has also made several bullish statements about the cryptocurrency. On Jan. 18, he wrote on X: “I have a macro bias in bitcoin in a very broad sense — that BTC is a best candidate to be a tremendous store of value against the destruction of fiat.” On Jan. 6, he wrote: “Bitcoin is primary a store-of-value IMO and still has massive opportunities to appreciate. I think everything is junk, including ETH.” However, the trader is skeptical about the impact of the Bitcoin halving on the price of BTC. On Dec. 21 last year, he explained on X: “The Bitcoin halving hype is a whole lot of excitement over nothing. Sure, halving hype might temporarily impact price. But the reduction of supply as % of daily volume is the size of a gnat’s ass.” What do you think about Peter Brandt’s bitcoin price analysis? Do you think a bitcoin bull run is coming soon? Let us know in the comments section below. View the full article

A new Binance survey has found that 73% of European respondents are optimistic about the future of crypto, with 55% exclusively using cryptocurrencies for everyday purchases. “We are delighted to see the high level of optimism amongst European crypto users, reflecting the growing interest in crypto and blockchain technologies,” said Binance’s CMO. Europe ‘Actively Paving the Way for Mainstream Adoption of Digital Assets’ Cryptocurrency exchange Binance recently surveyed its European users in France, Spain, Italy, and Sweden to understand their crypto investing habits. The survey was conducted between Oct. 14 and Nov. 8, 2023, with 10,498 participants. The results were released on Jan. 24. According to the results, 73% of respondents are optimistic about the future of cryptocurrency, with 55% exclusively using cryptocurrencies for everyday purchases and 24% making over half their trades in crypto. Beyond everyday spending, the survey reveals diverse crypto uses: 34% for long-term trading, 26% for saving, 13% for day trading, and 9% for routine purchases. Rachel Conlan, CMO of Binance, commented: We are delighted to see the high level of optimism amongst European crypto users, reflecting the growing interest in crypto and blockchain technologies. “The growing use of crypto in everyday purchases and its diverse applications highlights the integration of digital assets into our lives,” she continued. “With Europe at the forefront of implementing a secure and harmonized regulatory framework for the industry through MiCA, it’s evident that the region is actively paving the way for the mainstream adoption of digital assets.” Among survey respondents, 82% have been involved in crypto for at least a year, with 73% in the one to five-year range and 5% entering the space in the last six months. Moreover, over half (53%) are active traders, employing diverse frequencies, from monthly (23%) to weekly (17%) and daily (12%). Regarding the key drivers for crypto adoption, 20% of respondents cited the potential for high returns as the key driver, 18% emphasized the ideals of decentralization and financial autonomy, and 17% indicated that they are motivated by innovation and technology. What do you think about this Binance survey of European users? Let us know in the comments section below. View the full article

The Stellar Development Foundation wishes to put a hold on the upcoming Protocol 20 upgrade of the Stellar blockchain network, originally scheduled for January 30. This decision follows the discovery of a bug that could impact the Soroban smart contract transactions. Stellar Development Foundation Wants to Hit Pause on Protocol 20 Upgrade Due to Critical Bug The Stellar Development Foundation (SDF) has announced a delay in the Protocol 20 upgrade of the Stellar blockchain, originally scheduled for January 30. The decision follows the discovery of a bug in Stellar Core v20.1.0, which could potentially impact Soroban transactions. The SDF, in a blog post dated January 27, expressed its commitment to ensuring the network’s readiness for the upgrade, but also the importance of consensus within the ecosystem. “We are not an ecosystem of one,” the post read, emphasizing the collaborative nature of the decision-making process. The bug, identified on January 25, affects fee-bumped Soroban transactions, potentially leading to incorrect handling of refunds. Soroban, a smart contract platform on Stellar, went live on a testnet in October 2022. Tyler van der Hoeven, a core developer of Stellar, noted in a post on X that Protocol 20 would be a “phased rollout,” although the timeline for full implementation of Soroban smart contracts remains unspecified. In light of the bug, the SDF has disarmed its validators to prevent them from voting for the upgrade. The foundation clarified that the decision to upgrade rests with the entire network of validators, not solely with the SDF. As of December 2023, there were 43 validator nodes, according to Stellarbeat.io. The SDF stated, “No matter the outcome, we will continue to work to resolve the bug, and to engage in discussions with other validators in both public and private channels.” Stellar, one of the oldest blockchain projects, primarily focuses on payments and asset tokenization. The addition of Ethereum-style smart contracts through Soroban is expected to significantly enhance the blockchain’s capabilities. The SDF reassured the community that a fix for the bug is underway and should be available within two weeks. In the event of a postponement, the foundation will coordinate with validators to determine a new date for the Protocol 20 vote. The Stellar community and developers are encouraged to stay informed through the Stellar Dev Discord and developer mailing lists. The SDF emphasized the importance of cooperation and consensus for the success of the upgrade, stating, “We are grateful that this ecosystem is willing to engage in important conversations like this.” Do you think Stellar will become a popular place for smart contract developers? Share your thoughts and opinions about this subject in the comments section below. View the full article

On Monday, Kresus, the Web3 platform specializing in cryptocurrencies and non-fungible tokens (NFTs), unveiled a collaboration with Tools for Humanity, the creators of the Worldcoin initiative and the World ID identification system. World ID Meets Kresus App Kresus and Tools for Humanity (TFH) have unveiled a new partnership. In a joint effort, World ID will be integrated into the Kresus App, a crypto and NFT application accessible on both Apple’s App Store and Google Play. Furthermore, Kresus Labs will provide guidance to TFH on product strategy and engage in a collaborative effort for technical implementation, as outlined in the official announcement sent to Bitcoin.com News. The Kresus App provides users with a Web3 .kresus address and an array of identity tools to streamline transfers with ease and security. “The goal of Kresus has always been to offer a tool for everyone to benefit from the blockchain,” Trevor Traina, the founder and chairman of Kresus Labs explained on Monday. “This is more than just dabbling in crypto since identity touches on all future use cases of Web3 technologies. Proof of personhood will become an essential component of the Web3 ecosystem.” Traina added: As such, this collaboration is an excellent enhancement to the work we have already done in supporting Web3 identity. Following TFH’s revelation of a redesign for its iris-scanning orb architecture, the partnership with Kresus has come to light. In a conversation with Techcrunch, Alex Blania, CEO and co-founder of TFH, likened the upcoming iteration to an “Apple product.” As of January 16, 2024, the Worldcoin system had successfully processed a staggering 3 million unique individuals. In December 2023, the World App soared to the top of the finance charts in Portugal and secured the second spot in Spain. However, worldcoin (WLD), the project’s native crypto asset, has experienced a 40% decline in value over the past 30 days. As stated in Monday’s announcement, further information on utilizing World ID to access the Kresus App will be unveiled “in due course.” Blania said “It is exciting to see another quality wallet developer team integrating World ID and joining the World App ecosystem. Through this collaboration, our teams expect to learn a lot from each other in terms of product strategy and technical implementation over the coming months,” the TFH CEO and co-founder added. What do you think about the partnership between Kresus and Worldcoin’s TFH? Share your thoughts and opinions about this subject in the comments section below. View the full article

A Hong Kong watchdog, the SFC, has cautioned investors about the enticing yet potentially risky ‘Floki Staking Program’ and ‘Tokenfi Staking Program,’ which offer high annualized returns without the required regulatory green light. SFC Warns Against Unregulated Floki and Tokenfi Crypto Staking Programs The Hong Kong Securities and Futures Commission (SFC) has issued a public warning against the “Floki Staking Program” and “Tokenfi Staking Program,” two crypto-related investment products promising unusually high returns. Both programs, associated with the Floki ecosystem, offer cryptocurrency staking services with promised annualized returns ranging from 30% to over 100%. However, the SFC states that these products have not received the necessary authorization for public offering in Hong Kong, thereby placing potential investors at risk. Staking, a process akin to depositing money into a savings account, contributes to blockchain operations. Staked cryptocurrencies are locked up in a project. The project then uses these staked coins to maintain its operations, such as validating transactions. Despite its growing popularity, the SFC warns that such arrangements might constitute unauthorized collective investment schemes. The SFC’s investigation revealed that “[t]he administrator of the two products has also not been able to demonstrate to the SFC’s satisfaction how the high annualised return targets could be achieved.” As a result, the SFC included both the “Floki Staking Program” and “Tokenfi Staking Program” in its Suspicious Investment Products Alert List on Jan. 26. Addressing these developments, the Floki team acknowledged the SFC’s concerns in their weekly recap live spaces on the X. They contended that the SFC’s primary issue was the programs’ high performance. While confirming their collaboration with a marketing agency for the promotion of these programs, Floki admitted to a lack of clarity regarding the continuation of their campaign in Hong Kong. They assured investors of their commitment to comply with local regulations. In addition to the risk of participating in unregulated schemes, the SFC cautioned investors about the allure of “too-good-to-be-true” returns. The SFC underlined that such investments could lead to a total loss, with minimal protection under the Securities and Futures Ordinance (SFO). The SFC has stated its intention to take appropriate legal action against any breach of the law, including the promotion of unlicensed collective investment schemes. Do you think the SFC is doing a public service by warning people about Floki’s staking products? Share your thoughts and opinions about this subject in the comments section below. View the full article

Current data reveals that Blackrock’s IBIT spot bitcoin exchange-traded fund (ETF) currently possesses 52,025.76 bitcoin, with a total value of $2.18 billion. Furthermore, Fidelity’s FBTC has increased its bitcoin holdings, now standing at 46,238.09 bitcoin as of Jan. 29, 2024. Blackrock Snags 52,025 Bitcoin, While Fidelity Now Holds 46,238 Several of the nine new spot bitcoin ETFs have amassed even more bitcoin, as indicated by their recent company statements. Excluding Grayscale’s GBTC, Blackrock’s IBIT takes the lead as the largest spot BTC ETF in terms of bitcoin holdings. On Jan. 29, the web portal displayed that the fund holds 52,025.76 BTC. Fidelity has also bolstered its FBTC holdings, rising from 43,855.14 BTC on January 26 to the current 46,238.09 BTC. The third-largest spot bitcoin ETF, Ark Invest’s 21shares fund, known as ARKB, holds a substantial 14,390 BTC. Following closely is Bitwise ETF BITB, which now possesses 13,576.10 bitcoin, as reported by onchain data. The Invesco Galaxy ETF boasts an estimated 6,833 BTC, but estimates are solely based on the web portal’s assets under management (AUM) statistics. Vaneck’s HODL ETF holds 2,885.46 BTC, while Valkyrie’s BRRR ETF currently has 2,635.28 BTC in its possession. Franklin Templeton’s EZBC bitcoin reserve stands at 1,363 BTC, and Wisdomtree’s BTCW ETF holds a reserve of 201 BTC. When considering all nine spot BTC ETFs, excluding GBTC, these funds collectively hold 139,247.69 bitcoin, estimated at a total value of $5.98 billion using prevailing BTC exchange rates. Meanwhile, data from GBTC’s website on Jan. 29, 2024, indicates that Grayscale’s Bitcoin Trust holds 502,712.60 BTC, worth an estimated $21.10 billion. Comparing the size of the newly acquired BTC by the nine ETFs to GBTC’s current holdings, these combined holdings represent 27.69% of GBTC’s existing bitcoin reserves. At present, Grayscale’s GBTC holdings are 3.53 times more valuable than the reserves held by the nine recently introduced spot bitcoin ETFs. What do you think about the accumulation from the nine newly introduced spot bitcoin ETFs? Share your thoughts and opinions about this subject in the comments section below. View the full article

The PWN DAO Foundation, linked to the peer-to-peer lending protocol PWN, has released a comprehensive report analyzing user-incurred onchain fees within major blockchain networks and decentralized applications (dapps) for the past year. The 2023 analysis examines Ethereum, BNB Chain, Bitcoin, and layer two (L2) solutions, along with widely-used dapps such as Aave and Uniswap. The report sheds light on the primary trends in fee generation and discusses the changing patterns of blockchain utilization and revenue. 2023’s L1 and L2 Fee Generation Stats Revealed The report published by PWN, illustrates a diverse landscape of onchain fee generation, underscoring a 33% overall reduction in fees across the selected projects compared to the previous year. This trend was particularly pronounced in non-fungible token (NFT) marketplaces, which experienced an 87% drop in fee generation. In contrast, L2 solutions exhibited significant growth of around 411%, indicating a shift in user preferences and platform utilization. The study shows layer one (L1) blockchains, despite a slight decrease, continued to dominate the fee market, accounting for 59% of all fees, up from 48% in 2022. Ethereum, maintaining its position as a market leader, showed a notable 44% decline in fees, partly due to the migration of activities to L2 networks. “The rising fees generated by [L2s] signal widespread adoption and a significant impact on user experience,” the study’s researchers detail. The report also highlights significant changes in individual blockchain platforms. Bitcoin, Tron, and Polkadot saw the most substantial growth in fee generation, with Bitcoin’s fees surging by 461%. The increase in Bitcoin network fees was attributed to the popularity of Ordinal inscriptions, a novel embedding application within the Bitcoin network, marking a notable shift in its usage dynamics. As of Jan. 29, 2024, the count of Ordinal inscriptions on the Bitcoin blockchain has impressively surpassed the 58 million mark. Decentralized exchanges (dexs) witnessed a 51% decrease in fee generation, with Uniswap emerging as a dominant player, securing 64% of dex-generated fees. The report suggests that despite the decline in fees, the trading volume on dex platforms remained relatively stable, pointing to an evolving relationship between trading activity and fee structures in the decentralized finance (defi) sector. The report concludes by discussing liquid staking derivatives (LSDs) which showed a significant 93% increase in fee generation, highlighting the growing interest in staking solutions within the crypto-native economy. The report notes that Lido Finance, the LSD leader, collected a significant portion of these fees, reflecting the platform’s strong position in the market. As the landscape evolves, with user preferences gravitating towards more efficient and innovative platforms, it’s clear that the blockchain ecosystem is continuously undergoing a transformative phase. This evolution paves the way for emerging technologies and strategies, potentially redefining the future of blockchain utility and economic models in the crypto space. What do you think about PWN’s report surrounding L1s and L2s, dapps and fee generation? Let us know what you think about this subject in the comments section below. View the full article

The Inmerion crypto casino and sports betting is a new kid on the block, but it already looks like a tempting piece for players. From raking in 5 bitcoins to showering players with daily 20% cashback, Inmerion provides a diverse and engaging gaming experience for users worldwide. Bonuses Upon joining the platform, players are greeted with a remarkable 20% daily cashback offer, ensuring that they receive a portion of their losses back from day one. This initiative not only encourages longevity but also promotes a sense of security and fairness within the casino’s community. To receive the best casino cashback offer, no conditions need to be met—there’s no minimum deposit or a cumbersome loyalty program where one has to wait for a long time; just play and get cashback tomorrow. Another standout feature is the Engine of Fortune — online wheel game, which grants players 3 Fortune spins upon depositing at least $50. Lucky wheel presents an opportunity to unlock substantial rewards, including the chance to win 5 Bitcoin, cash prizes, or other enticing bonuses. Every day, players can use 1 Fortune spin on the Engine of Fortune, ensuring everyone wins a guaranteed prize, leaving no one empty-handed. Inmerion also allows players to participate in online casino tournaments with a prize pool of $100,000, adding an extra layer of excitement and competition to the platform. Features Inmerion is a KYC-free casino. The platform’s registration process is streamlined and anonymous, requiring only an email and password. This level of accessibility is complemented by the absence of any minimum deposit requirements, ensuring that players of all financial backgrounds can engage with the casino. Inmerion supports both fiat and cryptocurrencies. Inmerion accepts not only Bitcoin, but also is an altcoin crypto casino, including popular options like Litecoin, Dogecoin, Ethereum, Tron, and USDt. Additionally, for users new to the world of online crypto gambling, the platform offers the ability to swiftly convert cash into crypto with MoonPay, a feature that greatly simplifies the onboarding process for beginners. In Inmerion, there’s always something to do. With over 5,000 games from 100+ top global providers such as Pragmatic Play, AvataraUX, Endorphina, and Evolution, the entertainment never stops. The casino also offers a sports betting section covering all major sports and a wide array of markets. All of this comes wrapped in a dark neon-inspired design that is visually pleasing and adds to the overall experience. Whether you’re a fan of slots, live casino games, or sports betting, Inmerion has it all, making it a one-stop destination for online entertainment. The casino’s withdrawal process is notably swift, with players receiving their winnings in a matter of minutes, thanks to the fast withdrawal casino system. For any inquiries regarding fast casino withdrawals and betting tips, feel free to reach out to the 24/7 support team via chat or email. The casino’s support team is available round-a-clock in 20 languages, providing users with prompt and multilingual assistance whenever needed. Why Inmerion? Daily 20% cashback from day one 3 free spins at the Engine of Fortune Chance to win 5 Bitcoin, guaranteed prizes Online casino tournaments with a $100,000 prize pool KYC-free registration No minimum deposit required Fast withdrawals Both fiat and crypto are accepted Mobile version Over 5000 games from 100+ providers Sports betting with all major sports and a wide array of markets 24/7 support team is ready to help in 20 language Summary In summary, Inmerion stands out as a compelling and multifaceted crypto casino, offering an array of features and benefits that cater to the diverse needs and preferences of crypto gambling enthusiasts. With its generous 20% daily cashback, no minimum deposit casino requirement and KYC-free registration, immersion in Inmerion is available to every player, from beginner to whale. The opportunity to win 5 BTC is available every day, so why not start building your future with Inmerion right now, especially since the motto of this casino is to be a hero and seize every chance. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Hong Kong will now focus on regulating over-the-counter (OTC) cryptocurrency trading, according to local sources. Under Secretary for Financial Services and the Treasury Joseph Chan Ho-lim stated that the government will aim to mitigate the risks of virtual assets amidst the rising interest of mainland investors using the city as a bridge to invest in crypto assets. Hong Kong to Push Stronger Regulation for Crypto OTC Desks Hong Kong is preparing to strengthen its regulatory framework for over-the-counter (OTC) cryptocurrency operations. According to local reports, the decision has been influenced by the influx of Chinese mainland investors to the Hong Kong market who use the city as a bridge for these investments. Under Secretary for Financial Services and the Treasury Joseph Chan Ho-lim stated that with these actions, Hong Kong authorities will aim to mitigate the potential risks of virtual assets while providing transparency for the users investing in these assets. Earlier reports explained that Chinese investors were investing in cryptocurrency assets to escape the sluggish performance of the mainland national stock market. Reuters stressed these investors were using Hong Kong-based platforms to get around the ban that the mainland declared on the trading of crypto assets in 2021, using their $50,000 foreign currency quota for this objective. Local sources did not specify if these new determinations for OTC markets were already prepared or still a work in progress. In contrast to mainland China, Hong Kong has been open to cryptocurrency, with the Hong Kong Securities and Futures Commission (SFC) having recently published the norms that will regulate the future issuance of spot Bitcoin exchange-traded funds (ETF) in the country. The SFC recognized the popularity of virtual assets in the city and reported a high demand for instruments leveraging these virtual assets. What do you think about the decision to regulate crypto OTC markets in Hong Kong? Tell us in the comments section below. View the full article

Bitcoin has seen a 2.9% rise against the U.S. dollar in the past week, while ethereum has experienced a 5.8% decline during the same period. Several cryptocurrencies have made notable gains over the past seven days. Leading the pack is manta network (MANTA), which surged by an impressive 47.2% against the greenback. On the flip side, mantle (MNT) emerged as the biggest loser this week, with an 11% drop in value. Crypto Economy Sees 12 Double-Digit Gainers and 82 Losers On Monday, Jan. 29, 2024, the crypto economy is valued at $1.697 trillion, marking a 0.8% decline in the past day. Bitcoin (BTC) maintains its dominance with a 48.6% market share, while ethereum (ETH) accounts for 15.9% of the total market capitalization. Both BTC and ETH witnessed subdued market activity throughout the previous week, with ether experiencing slightly more selling pressure. Conversely, a select group of crypto assets displayed remarkable double-digit gains over the seven-day period. Manta network (MANTA) led the charge with an impressive 47.2% surge this week, closely followed by bittensor (TAO), which gained 45.1%. Conflux (CFX) registered a substantial 35.1% increase, while sui (SUI) saw a notable uptick of 33.1% against the U.S. dollar. Helium (HNT) recorded a 21.4% rise, and iota (IOTA) showed a commendable 17% increase over the seven-day span. A total of 12 digital currencies notched double-digit gains this week. The leading alternative assets besides bitcoin, ether, and stablecoins include solana (SOL), xrp (XRP), avalanche (AVAX), and bnb coin (BNB). Conversely, the week’s most significant losers in terms of seven-day losses include mantle (MNT), which dropped by 11%, and the BRC20 token ordi (ORDI), which shed 10% of its value. Dydx (DYDX) experienced a 6% decline this week, while the crypto asset woo (WOO) slid by 5.8%. Chainlink (LINK) and synthetix (SNX) both incurred losses, with LINK losing 5.7% and SNX dropping by 5.4% over the week. A total of 82 cryptocurrency assets recorded losses over the seven-day period, with MNT and ORDI leading the pack in losses. According to the Blockchaincenter Altcoin Season Index, we are still in the midst of an ‘altcoin season,’ but it teeters on the edge of transitioning back into Bitcoin Season. The rule dictates that if 75% of the Top 50 coins outperform bitcoin (BTC) over the last season (90 days), it signifies Altcoin Season. Currently standing at 76, this metric has descended from its peak of 84 out of 100 on Jan. 22, 2024. Falling below the 75 threshold would signal the end of the so-called Altcoin Season. Register your email here to get weekly price analysis updates sent to your inbox: What do you think about the week’s biggest gainers and losers? Let us know what you think about this subject in the comments section below. View the full article

On Jan. 29, 2024, ethereum’s price dynamics display a nuanced interplay of market elements. The current price of ether stands at $2,247, with a 24-hour range fluctuating between $2,246 and $2,284. Despite its substantial market capitalization of $270 billion, ether trading volume remains modest, hinting at possible investor wariness. Ethereum The hourly chart of ethereum (ETH) paints a picture of a volatile ether market. Prices swing from $2,246 to $2,284, signaling opportunities for short-term trading or day traders. This fluctuation is pivotal for traders who capitalize on brief price movements, offering potential points for entry at support levels and exit strategies beneath these points to minimize risk. On the 4-hour chart, ether exhibits a mild rebound from its low at $2,169, endeavoring to find its footing around $2,300. This pattern, characterized by alternating rises and falls, suggests an overarching downward trend, but with inklings of possible stabilization. Traders are advised to tread carefully, entering only if a consistent pattern of increasing lows and highs becomes evident. ETH’s daily high accentuates a pronounced downward trajectory, with its price descending from roughly $2,719 to $2,034. This descent signifies a bearish market, predominantly controlled by sellers. Astute traders already in the market may use recent lows as markers for stop-loss orders, while prospective buyers should await signs of a reversal before committing. Ethereum chart by TradingView Oscillators like the relative strength index (RSI) and Stochastic imply a neutral stance, indicating an absence of a definitive directional momentum. The commodity channel index (CCI) and the average directional index (ADI) corroborate this neutrality. Nonetheless, the momentum and moving average convergence/divergence (MACD) indicators hint at bearish nuances, suggesting potential downward pressures on ethereum’s price. In terms of moving averages (MAs), the sentiment predominantly skews bearish. The 10, 20, 30, and 50-period exponential (EMAs) and simple moving averages (SMAs) all reinforce this perspective. Conversely, the 100 and 200-period averages signal a positive momentum, hinting at the potential for long-term growth. Bull Verdict: Despite the current bearish signals from various technical indicators, a bullish perspective could arise from the resilience of ethereum’s price at key support levels. The juxtaposition of long-term moving averages signaling positive sentiment suggests underlying strength and a potential reversal from the current downtrend. Optimism for a bullish future is predicated on ETH’s ability to break through current resistance levels, coupled with an increase in trading volume and positive market sentiment. Bear Verdict: The bearish outlook for ethereum (ETH) is reinforced by the prevailing downward trends observed in the daily chart and the bearish signals from most short-term moving averages. The neutral to bearish indications from oscillators, coupled with the current lack of strong buy signals, point towards ongoing downward pressure. This scenario suggests a cautious approach for long-term and short-term traders alike, with the potential for further price decreases unless there are significant shifts in market dynamics or investor sentiment. Register your email here to get weekly price analysis updates sent to your inbox: What do you think about ether’s market action on Monday morning? Share your thoughts and opinions about this subject in the comments section below. View the full article

Bitcoin, the leading digital currency by market cap, showcased nuanced market dynamics on Jan. 29, 2024. Bitcoin’s value fluctuated within a narrow band, ranging from approximately $41,950 to $42,069 within the last hour. Indicators such as oscillators and moving averages reveal a diverse perspective, indicating a multifaceted interaction of market factors. As the price fell beneath the $42,000 threshold, it appears that bearish forces have momentarily gained the upper hand. Bitcoin Over the past 24 hours, bitcoin has experienced a trading range from $41,735 to $42,479 per unit, reflecting a moderately volatile market. As of Monday at 8:00 a.m. Eastern Time, the cryptocurrency’s trading volume is recorded at $12.43 billion, indicating a relatively low level of trading activity, while its market capitalization stands at $828 billion. The various oscillators, including the relative strength index (RSI) at 51, Stochastic, and commodity channel index (CCI), predominantly exhibit a neutral position with slight tendencies towards bearishness. In contrast, the momentum indicator points towards negative market sentiment. However, the moving average convergence/divergence (MACD) level suggests a potential bullish turn, offering a complex view of the current market dynamics. Regarding bitcoin’s moving averages (MAs), there’s a more optimistic trend, with both exponential moving averages (EMAs) and simple moving averages (SMAs) for shorter durations (10, 20, 30 days) showing encouraging signs. Nevertheless, the 30-day and 50-day SMAs present a bearish signal, advising caution for those considering long-term trades. Bitcoin chart by TradingView Bitcoin’s daily chart exhibits a bearish pattern characterized by considerable volatility, signaling a downward trend. For those eyeing potential long positions, a bullish reversal or a surge above a pivotal resistance level might be worth considering. On the flip side, short-term traders might use the recent low as a benchmark for setting stop-losses. Turning to bitcoin’s 4-hour chart, there are signs of recuperation following the recent downturn, marked by bullish upward movements. During retracements, intraday traders might find entry points, with moving averages serving as key indicators. Implementing a stop-loss just below the recent swing lows in this period could represent a cautious strategy. Furthermore, the 1-hour BTC/USD chart proves valuable for spotting short-term trade opportunities, thanks to its more frequent shifts in momentum. Ideal entry points could be near support levels or subsequent to a distinct bullish formation. Conversely, exits or profit-taking strategies might be executed around short-term resistance zones. Collectively, all three charts suggest that the path of least resistance is skewed towards a downward trajectory. Bull Verdict: The current data suggests a bullish outlook for BTC on Jan. 29, 2024. Short-term moving averages and moderate market volatility indicate potential upward momentum. Traders might consider this an opportune time to buy, especially if they are looking for short to medium-term gains. The market appears primed for a positive trend, with key indicators pointing towards an increase in bitcoin’s overall value. Bear Verdict: Conversely, the analysis also presents a bearish scenario. The mixed signals from oscillators, combined with the bearish signals in longer-term moving averages, suggest potential downward pressure on bitcoin’s price. Traders should exercise caution, particularly those with a long-term investment horizon. This could be a period of market correction, with a likelihood of a downtrend in the near future. Register your email here to get weekly price analysis updates sent to your inbox: What do you think about bitcoin’s market action on Monday? Share your thoughts and opinions about this subject in the comments section below. View the full article

Kaspersky, the cybersecurity firm based in Russia, has issued a public warning regarding a new malware strain that particularly targets Mac users, focusing on their crypto wallets. This malicious software, which infiltrates computers via counterfeit applications, sets up a backdoor aimed at bitcoin wallets, including Exodus. It then substitutes these wallets with fraudulent versions designed to extract the critical information required to drain the crypto assets stored within. Kaspersky Alerts About Cryptocurrency Stealing Malware In Mac Operating Systems Kaspersky, a Russian security company, has alerted the public about a new malware targeting cryptocurrency wallets installed in Apple computers. The malware targets computers with the Mac operating systems with versions 13.6 or above, focusing on newer devices expected to be used by crypto-savvy users. The malware, distributed through pirated applications, is bundled with an activator app to patch the previously compromised pirated application to run on the targeted computer. If the patch is not applied, the application will not run. After getting administrative rights, the malware scans the PC for installed cryptocurrency wallets attempting to substitute them with compromised apps, intending to get the access keys to these apps and siphon the cryptocurrency held in them. While malware targeting cryptocurrency wallets is not new, Kaspersky explains that the novelty of this software resides in two aspects: using DNS records to deliver its malicious scripts and replacing the wallet application with another infected version. The malware was observed to target Bitcoin Core and Exodus wallets in this way, but it is unknown if it can target other cryptocurrency wallet apps. Sergey Puzan, a security researcher at Kaspersky, stated: The macos malware being linked to pirated software highlights the serious risks. Cybercriminals use pirated apps to easily access users’ computers and get admin privileges by asking them to enter the password. Furthermore, Puzan advised users to be extra cautious with cryptocurrency wallets, recommending avoiding downloading apps from unofficial sites and using security software solutions for better protection. What do you think about the Macos-specific malware discovered by Kaspersky? Tell us in the comments section below. View the full article

PRESS RELEASE. Main Takeaways: Bit.Store introduces Binance Pay for efficient crypto top-ups. Seamless integration offers a quick, secure method for BitStore cardholders. Collaboration reflects Bit.Store’s commitment to user-friendly crypto solutions. The partnership underscores Bit.Store’s expanding global service outreach. In a significant development for crypto card users, Bit.Store, a front-runner in the cryptocurrency card industry, has integrated Binance Pay into its platform. This collaboration introduces a streamlined, secure method for users to top up their virtual and physical Bit.Store cards, leveraging the ease and reliability of Binance Pay. The integration of Binance Pay is a strategic move by Bit.Store to enhance user experience. This feature simplifies the crypto loading process for Bit.Store cardholders, allowing them to efficiently manage their digital finances. The move is especially beneficial for the global user base of Binance, offering them an additional utility for their crypto assets. Detailed Process for Bit.Store Card Top-Up via Binance Pay: Visit Bit.Store’s Web App: Access Bit.Store’s platform via a mobile device or PC. Initiate Top-Up: Navigate to the card top-up section. Select Binance Pay as Payment Option: Choose Binance Pay from the list of available payment methods. Secure Transaction: Follow the prompts to complete the top-up process on Binance Pay’s secure platform. Card Activation: Upon successful transaction completion, the Bit.Store card is ready for immediate use. Bit.Store has been at the forefront of simplifying cryptocurrency usage for everyday transactions. Offering both virtual and physical card options, Bit.Store caters to a diverse range of user needs, balancing the convenience of traditional financial instruments with the innovative aspects of digital currencies. Binance Pay is a contactless, borderless cryptocurrency payment technology developed by Binance, the world’s leading cryptocurrency exchange. It allows users to make and receive payments in crypto globally, emphasizing security and user convenience. The integration of Binance Pay into Bit.Store’s services is part of a broader vision to continuously enhance the platform’s capabilities. This collaboration is a testament to Bit.Store’s commitment to innovation in the crypto payment sector. Looking ahead, Bit.Store plans to expand its service offerings, introducing new features and strategic partnerships to further cement its position as a leader in crypto payment solutions. About Bit.Store Bit.Store is your gateway to seamless cryptocurrency integration in the real world. Committed to safeguarding privacy and ensuring user-friendly accessibility, our virtual and physical cards allow for crypto conversions, enabling secure and simple spending across online and offline in-store platforms. Bit.Store redefines the ease of crypto asset management — store, spend, and earn with confidence and simplicity. Website | Twitter | Telegram | Discord | Bit.Store Card This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

A recent report indicates that regulatory authorities in Alaska and Florida have prohibited Binance US from operating within their jurisdictions. This development comes in the wake of Binance, along with its previous CEO Changpeng Zhao, reaching a plea agreement with the U.S. government. Alaska and Florida Issue Cease Operations Orders to Binance US Binance US, a subsidiary of Binance – the world’s leading crypto exchange by trading volume, has been ordered to cease operations in Alaska and Florida, according to state regulatory mandates. The news was initially revealed by Wall Street Journal (WSJ) journalist Caitlin Ostroff, highlighting the American exchange’s previous complications in these states. Reportedly, the Office of Financial Regulation in Florida had enacted an emergency suspension of Binance US’s license for money transmission. The report further highlights that this month, the Alaska Division of Banking and Securities reportedly refused to renew the license of Binance’s U.S.-based crypto exchange. A Binance US spokeswoman told Ostroff that the exchange was in “active dialogue with state officials.” The recent developments in Florida and Alaska come after the plea agreement that former CEO Changpeng Zhao (CZ) and Binance entered into with the U.S. government. CZ is scheduled for sentencing on Feb. 23, 2024, with a potential 18-month prison term. Furthermore, on Jan. 23, 2024, a judge denied CZ’s request to travel to the UAE, even though he proposed to secure his travel with equity. Regarding the situations in Alaska and Florida, the Binance US spokeswoman chose not to provide any comments on the possibility of the U.S. exchange appealing the prohibitions, as reported by Ostroff. Based on the data gathered on Jan. 28, 2024, Binance US ranks as the 41st largest crypto exchange by volume, having processed trades amounting to $9 million over the last 24 hours. What do you think about Florida and Alaska banning Binance US? Share your thoughts and opinions about this subject in the comments section below. View the full article

The data from the latest Coinover study suggests that 17% of the participants own cryptocurrency and 30% plan to do so in the coming year. About 50% of those interviewed said they were positive about their financial earnings, while 20% expressed dissatisfaction with the returns. More Than Half of the Respondents Are Crypto-Curious According to a survey study conducted by the blockchain security firm Coinover, about 17% of the more than 16,000 study participants said they own cryptocurrencies, while at least 30% said they are likely to invest in cryptocurrencies in the next 12 months. The data also suggest that the majority of the respondents, 46%, see bitcoin as the most popular crypto asset. Non-fungible tokens (NFTs) are ranked second with 18%, while ethereum is a distant third with 17%. When asked about their attitude and curiosity towards cryptocurrencies, the study data suggests that as much as 55% of the respondents are crypto-curious. Only 11% said they are active in the cryptocurrency market. Meanwhile, 50% of those interviewed said they were positive about their financial earnings but 20% were dissatisfied with the returns. Remarking on the study findings, David Janczewski, CEO and co-founder at Coincover, said: “Crypto’s potential is huge, but our research makes clear that the industry must take steps to address consumer concerns. Many still perceive cryptocurrency as a mysterious technology and the industry must show that it is doing everything it can to protect investors, build consumer confidence, and provide stronger foundations for the future.” However, despite portraying what would appear to be a positive disposition towards crypto among the respondents, the study also found that 19% of those interviewed are cynical about crypto and another 25% “are closed to cryptocurrencies entirely.” Turning to trust issues, the study found that as many as 30% of non-crypto users have zero trust in centralized crypto exchanges. When asked about their technology concerns, 30% of the respondents said they were worried about crypto. Concerning the respondents’ perception of crypto, the study report said that many more see crypto as an enabler of financial fraud than a privacy tool. What are your thoughts on this study’s findings? Let us know what you think in the comments section below. View the full article