cryptocurrency – Page 46 – BOL News Staging

FBI Issues Warning to Crypto Users

July 13, 2021 by Syed Ahad

The FBI has issued a nationwide alert to users about suspected cyber-attacks on cryptocurrency exchanges and holders. The US Federal Bureau of Investigation announced this week that active threats to the business exist.

According to the FBI, certain people are carefully tracking weak holes in major crypto firms. Attackers have evolved a variety of specialized tactics to accomplish this. Sim swapping, tech support fraud, and account theft are examples of these.

The FBI made instructions for businesses on how to keep their assets protected.

The warning was distributed via the TLP protocol (a system for classifying sensitive information), which was created particularly for information distribution. The announcement also included a green designation, indicating that peers and organizations can exchange this information.

The FBI recommended cryptocurrency users to always use two-factor authentication and be cautious about the information they provide online.

Even though they’re simple to conduct, sim swap attacks are most difficult to defend.

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UAE to launch digital currency over the next five years

July 13, 2021July 12, 2021 by Syed Ahad

The Central Bank of the oil-rich Gulf state, which serves as the region’s financial hub, announced on Monday that the UAE will launch its first digital currency by 2026.

Several Central Banks around the world have recently revealed similar plans and criticized the bitcoin.

The Central Bank of the United Arab Emirates has announced its goals, which include “issuing a digital currency and driving digital transformation in the UAE’s financial services sector, by utilizing the latest artificial intelligence and big data solutions”.

The announcement is part of its “2023-2026 strategy” which aims to “position it among the world’s top 10 central banks”, stated the Central Bank to state media.

Saudi Arabia and the United Arab Emirates have established a program for a common cryptocurrency for cross-border transactions in 2019.

The UAE has great tech goals, investing in AI, creating a space program, and having the regional headquarters of massive international digital companies.

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Cryptocurrency could be the solution for the financial problems

July 11, 2021 by Syed Ahad

Cryptocurrency is providing answers to financial issues that traditional financial systems have been unable or unwilling to address.

Transacting using crypto is, in particular, much cheaper and faster than using regular bank procedures. People can now swap their money for exact value cryptocurrency without having to pay expensive charges to middlemen.

Crypto has also improved financial transaction privacy by preventing third parties from tracking sensitive information.

As more people accept crypto, its value rises. As a result, one will have a strong grip on their wealth and be able to manage it.

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Bitcoin and Ethereum Prices Are ‘In Danger’

July 11, 2021 by Syed Ahad

Bitcoin and cryptocurrency prices have been falling in recent weeks as China‘s crypto crackdown has become more severe.

Bitcoin’s price collapsed in May, losing half of its worth, and has been under pressure ever since. Meanwhile, ethereum, the second-largest cryptocurrency after bitcoin, has lost more than half of its value, with the price of an ether token battling to stay over $2,000.

Analysts have cautioned that crypto prices are “in danger” following allegations that former bitcoin and ethereum miners in China have been dumping GPUs, indicating that at least some of the banned Chinese mining power may not return.

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Crypto.com declared as Global Partner of the F1 ‘Sprint’ series

July 11, 2021 by Syed Ahad

With the fastest-growing cryptocurrency platform becoming initial and global partner of the new Sprint series for 2021, Crypto.com will join Formula One.

Apart from the sprint races, Cryptocurrency will have a trackside presence at every race for the rest of the season as part of a major global partnership agreement. The platform thinks that the agreement will help maintain its international brand awareness. F1’s Official Cryptocurrency Sponsor and NFT Partner (A non-fungible token a unit of data stored on a digital ledger, called a blockchain) will also be Crypto.

The Cryptocurrency Visa Card is the world’s most popular crypto card, available in 30+ countries worldwide. In addition to establishing the world’s fastest-growing cryptocurrency platform and the leading app in both the App Store and Google Play, the Cryptocurrency Visa Card is the world’s most popular cryptocurrency card.

Furthermore, in May 2021, Cryptocurrency set an ambitious goal of becoming carbon negative in 18 months, providing the industry with a path and a prototype for “clean crypto.” This strategy will initially focus on determining the amount of carbon produced by cryptocurrency trading, deposit, and withdrawal operations across all of its platforms, before rethinking how it conducts business outside of trading.

Formula One’s President and CEO, Stefano Domenicali said: “We are pleased to welcome Crypto.com to the Formula 1 family, as we continue to attract progressive global brands anchored in performance and innovation.”

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Bitcoin is better than gold, Steve Wozniak

July 10, 2021 by Syed Ahad

Steve Wozniak, Apple‘s co-founder, was present at the Jalisco Talent Land Digital in 2021 on Thursday, July 8. The businessman conveyed his views on bitcoin and the blockchain in this context.

“It is something impressive that we even know who created bitcoin, it is unique and completely a mathematical formula, which is also immutable, so it is almost a miracle of technology,” he explained.

He said that bitcoin is “better than gold” because gold must be found and it is limited. Also stated that he does not have any crypto assets, he further stated that he would be investing in Bitcoin in the coming future.

Wozniak spoke about technology and advancements as well as diversity and equal pay during his participation in the innovation festival.

“We should all be treated the same, but we can’t achieve much just by wanting it,” he said.

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TikTok Influencers Forbidden from Promoting Cryptocurrencies

July 9, 2021 by Syed Ahad

TikTok, a very popular video-sharing application that is partly responsible for the rise of meme cryptocurrencies like Dogecoin, has banned its users from promoting cryptocurrencies, stated British Newspaper.

Apart from cryptocurrency, TikTok has recently modified branded content policy which prohibits many other financial services and products, including loans, credit cards, and forex trading.

For promoting certain products, popular social media profiles are generally paid.

To cater to the app’s young consumers, several big fintech businesses, such as Revolut, would work with “fintok”(a very particular corner of the country’s fastest-growing social media app) influencers.

On the other hand, the new policy will put an end to such collaborations.

There were fears that some fraudulent users were looking for young people’s gullibility and with the lack of investment knowledge.

The firm has also improved its approach to user safety by implementing a system that deletes any films that breach its guidelines instantly:

“Over the next few weeks, we’ll begin using technology to automatically remove some types of violative content identified upon upload, in addition to removals confirmed by our Safety team.”

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EU agency aims to combat crypto laundering

July 9, 2021 by Syed Ahad

The European Union (EU) has proposed the establishment of a new agency to combat money laundering related to cryptocurrencies.

The European Union (EU) intends to establish an anti-money laundering (AML) agency.

According to a report by Reuters, the European Commission is considering creating an Anti-Money Laundering Authority (AMLA) to trace illicit financial transfers across the European Union, including bitcoin transactions.

Documents acquired by Reuters state, the newly planned organization will target the hazards posed by cryptocurrencies as part of a broader crackdown on money laundering. The proposal’s documents stated:

“The lack of such rules leaves holders of crypto assets exposed to money laundering and financing of terrorism risks, as flows of illicit money can be done through transfers of crypto assets.”

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Square to Make a Hardware Wallet for Bitcoin

July 9, 2021July 9, 2021 by Muzzammil Mehboob

Square is going to make a hardware wallet for bitcoin, the company’s hardware lead, Jesse Dorogusker, announced on Thursday. CEO Jack Dorsey, who is also the CEO of Twitter, said in June that the company was going to make one. And now Square has made the decision to move forward. “We have decided to build … Read more

BUSD TO PKR: Today 1 Binance USD to PKR on, 9th June 2021

July 9, 2021 by Web Desk

Karachi: Today 1 Binance USD to Pakistan Rupees according to the foreign exchange rate for today. Find updated one Binance Coin to Pakistani rupees. Today Binance USD To Pakistan Rupee Find the latest 1 Binance USD (BUSD) to PKR Exchange Rate. Today 1 Binance USD (BUSD) to Pakistan Rupee (Updated 9th, July 2021). 1 Binance USD … Read more

Cryptocurrency: Mining Farm Busted by Ukrainian Security

July 9, 2021 by Syed Ahad

Ukraine’s government security agency has identified the country’s largest underground cryptocurrency mining farm.

In the city of Vinnytsya, Ukraine’s government security service said on Thursday, that it had discovered the country’s largest underground cryptocurrency mining site.

The farm took enough power to cause blackouts across many cities. The number of weekly damages done by the mining farm could exceed 7 million hryvnias (about $256,500) according to preliminary calculations.

The farm was housed in one of a local energy company’s old warehouse building.

According to the investigation, this was set up by miners from Kyiv and Vinnytsya.

To hide their illegal actions, they tampered with the electric meter data.

3,800 gaming systems, over 500 GPUs, 50 CPUs, and criminal documents relating to electricity theft were all found at the scene.

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Crypto usage: Turkey jumped by elevenfold in a year

July 9, 2021July 8, 2021 by Syed Ahad

A recent survey performed in Turkey shows, how the attitude towards crypto has changed in the past year.

According to a new survey by Turkish crypto exchange Paribu (a Turkish cryptocurrency exchange website), Turkey’s cryptocurrency userbase has increased by more than 11 times in the previous year.

The “Cryptocurrency Awareness and Perception Survey 2021” was conducted by Akademetre Research, revealing the perceptions and behaviors of Turkish citizens toward Bitcoin (BTC) and other cryptocurrencies. The first such survey was completed in 2020.

The fact that only 0.7 percent of over 6,000 respondents exchanged cryptocurrency in any way was a striking finding from last year’s study. On top of that, 84% of respondents had never heard of Bitcoin or other cryptocurrencies before. These results have contrasted with previous reports that claimed one-fifth of the Turkish population was exposed to cryptocurrency.

This year, the survey shows a substantial jump in terms of cryptocurrency usage in Turkey. Out of 1,400 respondents, 7.7% said they traded with Bitcoin or other cryptocurrencies, marking an 11-times jump in crypto users compared to last year.

According to the survey, 11% of respondents with crypto knowledge have become active cryptocurrency users. As a major cryptocurrency exchange in the country, Paribu reflects the adoption speed with its user count, which grew from 600,000 to over 4 million within a year.

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PBoC continues the crackdown on cryptocurrency trade

July 8, 2021 by Syed Ahad

PBoC continues the crackdown on the cryptocurrency trade. People’s Bank of China has shut down a company that provided bitcoin trading software. As Chinese officials continue the crackdown on crypto-related transactions.

A senior PBoC official declared two days after the closure that the central bank would ramp up testing of its prototype “digital yuan.”

Beijing Qudao Cultural Development, a software firm, has been ordered to cease operations by the PBoC’s Beijing office, according to a statement released on July 6.

Following a meeting with banks and payment companies, the PBOC issued a statement ordering them to properly monitor customer accounts, identify those involved in cryptocurrency transactions, and terminate their payment channels as soon as possible.

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Visa has claimed that Crypto-linked cards topped $1 billion in first half of 2021

July 8, 2021 by Syed Ahad

Customers have spent more than $1 billion on Visa Inc‘s crypto-linked cards in the first half of this year, claimed the payments processor, which is taking steps to make crypto transactions more efficient.

Customers will be able to exchange and spend digital currencies at 70 million merchants around the world, due to the company’s partnership with 50 cryptocurrency platforms.

Visa’s decision is in keeping with the company’s growing acceptance of digital currencies.

The corporation started in March, it will accept the USD Coin as payment for transactions on its payment network.

Recent governmental crackdowns in China and elsewhere have soured investor confidence in cryptocurrencies.

Following the exhilaration that pushed it to record highs early this year, Bitcoin, the world’s largest cryptocurrency, has suffered a harsh decline.

However, a number of well-known names are continuing to increase their connection with digital assets. SoftBank Group Corp, a Japanese investment powerhouse, invested $200 million in Mercado Bitcoin, one of Latin America’s major bitcoin exchanges, last week.

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Crypto.com and UFC Signs a $175 Million Sponsorship Deal

July 7, 2021July 7, 2021 by Syed Ahad

The crypto company has become UFC’s official fight kit partner.

The major mixed martial arts organization, Ultimate Fighting Championship (UFC), has signed a multi-million dollar sponsorship contract with Crypto.com.

The deal involved a $175 million payment carried out over ten years, according to CNBC.

The Hong Kong-based cryptocurrency firm became the first official fight kit sponsor of the UFC on Wednesday.

Whereas, Crypto.com’s branding will appear on fight kit items used throughout the UFC, including athletes’ attire, as part of the multi-year partnership.

“This is a partnership between two companies that are the best at what they do,” UFC President Dana White said. “No company has done more to grow the popularity of combat sports than UFC, and now we’re one of the biggest sports brands on the planet. We can help Crypto.com reach more people around the world through the strength of our brand.”

With an estimated fan base of over 625 million, UFC fights do indeed get a lot of attention throughout the world.

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BNB TO PKR: Today 1 Binance Coin to Pakistan Rupee, on 7th July 2021

July 7, 2021 by Web Desk

Karachi: Today 1 Binance Coin to Pakistan Rupees according to the foreign exchange rate for today. Find updated one Binance Coin to Pakistani rupees. Today Binance Coin To Pakistan Rupee Find the latest 1 Binance Coin(BNB) to PKR Exchange Rate. Today 1 Binance Coin (BNB) to Pakistan Rupee (Updated 7th July 2021). 1 Binance Coin … Read more

London asset manager intends to invest $55 billion in cryptocurrency

July 6, 2021 by Syed Ahad

Despite the market’s recent collapse, a London-based asset manager is said to be considering investing in digital assets.

Marshall Wace, a London-based asset management firm with over $55 billion in assets under management (AUM), is considering to move into the cryptocurrency market, according to the report published today by the Financial Times.

Whereas the individuals connected with the situation report, the company intends to engage in many areas of the business, including blockchain technology and payment systems for digital currencies and stable coins.

Furthermore, according to FT’s sources, Marshall Wace is looking to hire staff in the digital assets industry, although the fact that the new investment arm is still in its early stages.

However, the asset manager plans to extend it and further considers adding other types of activity, such as bitcoin trading.

Apparently, the firm is considering to invest in the late-stage venture capital rounds in companies involved in the infrastructure of the still-developing industry.

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Central Bank of China issued a warning to firms regarding crypto-related businesses

July 6, 2021 by Syed Ahad

Central Bank of China has issued a warning to firms, to stop the services regarding crypto-related businesses.

The Chinese central bank has announced the removal of a Beijing-based software firm over its suspected connection in cryptocurrency trading.

Beijing Qudao Cultural Development Co Ltd. was banned by Chinese authorities for suspected cryptocurrency trading, according to a statement made on Tuesday.

According to Reuters, the software company has been ordered to cease operations immediately, and its website has been taken down.

The People’s Bank of China‘s stance on cryptocurrency-related activities was also underlined in the statement from the Beijing financial supervision administration.

In addition to dealing directly with cryptocurrencies, Beijing organizations shall not provide venues, commercial displays, or advertising for any cryptocurrency-related operations.

This statement came after the Chinese government passed a slew of anti-crypto policies.

Whereas, the government made a statement in May asking for more strict crypto asset regulation.

The issue escalated in June when China’s central bank stated that cryptocurrency traders’ accounts will be cancelled.

A massive miner exodus caused the Bitcoin network hash-rate to fall to its lowest levels since 2019.

On the contrary, regulations have also cut off access to Bitcoin mining in the country.

Bitcoin’s price has dropped nearly 42% since May, due in large part to unfavorable government regulations in China. With China’s long-running anti-crypto campaign unlikely to end soon, Bitcoin will need to find support elsewhere if it is to prevent further decline.

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