Blockchain 

6 Types of Crypto Assets You Need to Know About

The cryptocurrency world is full of jargon; acronyms and futuristic words that could be straight out of the latest sci-fi flick. Along with cryptocurrencies like Bitcoin and Litecoin, there are many other different types of crypto assets that can be found on the blockchain: Stablecoins As the name suggests, stablecoins are designed for stability. These are cryptocurrencies that are directly pegged to real-world assets. These assets could be precious metals like gold, oil, or silver, or national currencies like the dollar and euro. Regardless of the asset, the value of…

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Ethereum 

Ethereum Drops to $200 Levels as Crypto and Global Markets Crash

Ethereum (ETH) price has continued to fall after a dreadful weekend, which saw the price drop to around $198, wiping out last week’s gains. The cryptocurrency is currently trading slightly above the $200 support level and faces a nervy week in which it could drop as low as $170. Ethereum Drops to $200 as Crypto Markets Crash The coin has had a stellar year to date, having started the year at $130. It reached $280 in mid-February, outperforming even Bitcoin (BTC) in its percentage climb. However, there has been a…

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Blockchain 

BitGo Introduces Institutional Crypto Lending Service

The world of crypto has developed at a breakneck pace over the past few years, and in a new development, cryptocurrency firm BitGo has announced the launch of its own crypto lending service. In recent times, the crypto lending industry has grown at a decent pace, but there is still room for a lot of growth. Key Expansion The announcement from BitGo is an important one and could usher in a new era in this niche space in the crypto sphere. The company claims to handles 20% of all transactions…

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Cryptocurrency 

Crypto Capital Co-Founder Rejects Plea Deal in Shadow Bank Case

Crypto Capital co-founder Reginald Fowler has rejected a plea deal with the US government in an ongoing case in which he is accused of operating a “shadow bank” for several crypto exchanges. Fowler was indicted in April 2019, along with Israeli national Ravid Yosef, for allegedly running a shadow bank for several cryptocurrency firms, including Bitfinex and Tether, which are currently embroiled in a separate case in which they are accused of creating “the largest bubble in human history.” According to a letter submitted by the prosecution on January 31, the…

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Blockchain 

Zipmex Exchange Gets Crypto Trading License from Thai Regulators

The popularity of crypto trading has had a meteoric rise over the course of the past few years, and much of the reason behind the rise is due to the establishment of high-class crypto exchanges. In a new development that will come as a further boost to crypto enthusiasts, Zipmex has been granted the highly sought-after digital assets exchange license by the securities regulator of Thailand. Major Details Over the years, Zipmex has emerged as one of the most popular exchanges in the Asia-Pacific region. The new development paves the…

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Ethereum 

Gemini Launches Crypto Insurance Company with $200 Million Coverage

New York-based crypto-asset exchange Gemini has announced an increase in insurance coverage of its custody platform. The cryptocurrency exchange has increased its custody limit to $200 million. This is the largest cold storage insurance limit for any exchange globally. Gemini Launches Insurance Company This move indicates that Gemini Custody expects the demand for its services to increase. Considering the new coverage and the exchange’s reservation for accredited investors, it seems to now want to target large crypto holders in the future. The company is positioning itself to serve high-end crypto…

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Ethereum 

South Africa Plans New Crypto Regulations: Key Factors to Watch

Over the past few years, the popularity of cryptocurrencies has increased at an exponential rate, and due to that enormous growth, crypto regulations have become an important part of the discourse. In many countries across the world, cryptocurrencies are now legal, and millions of people trade in a wide range of assets every day. All About New Regulations It has now emerged that the South African Reserve Bank (SARB) is all set to introduce new regulations when it comes to the use of cryptocurrencies. The bank is trying to bring…

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Ethereum 

Ethereum Dev Arrested After Speaking at North Korea Crypto Conference

Virgil Griffith, a developer who currently works with the Ethereum Foundation, has been arrested upon arrival in the US after speaking at the Pyongyang Blockchain and Cryptocurrency Conference in North Korea in April. The United States Attorney’s Office for the Southern District of New York announced on Friday that Griffith had been arrested at Los Angeles International Airport on Thanksgiving Day. The complaint against the Ethereum developer, which was made by FBI Special Agent Brandon M. Cavanaugh, alleges that he was in violation of the International Emergency Economic Powers Act for…

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Bitcoin 

UPbit Loses $49 Million Worth of Crypto in Major Hack

UPbit, a South Korean-based crypto exchange, has lost 342,000 worth of ether (ETH), accounting for approximately $49 million USD, in a hack earlier today. UPbit Says Investors Assets Are Safe The exchange has suspended its deposit and withdrawal service after confirming in a statement that the assets had been stolen from the Upbeat Ethereum hot wallet to a previously unknown wallet address. UPbit has said that it will cover the losses but added that it may take at least two weeks before the exchange’s services are fully functional again. Any…

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Blockchain 

Grayscale Files to Become First SEC Reporting Crypto Fund

Grayscale Bitcoin Trust is trading higher by 3% after it filed Form 10 with the United States Securities and Exchange Commission (SEC) to become the first-ever crypto fund to report to the regulator. Major Development The crypto ecosystem has grown at a breakneck pace over the past few years, and it can be said that a viable ecosystem has taken shape. Things like a Bitcoin fund could not have been envisaged half a decade ago, but they are now a reality. In a new development, one of those funds is…

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