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Archive for April 2023

Could Declining USDT Deposits Indicate A Bearish Signal For Bitcoin?

Bitcoin (BTC) is on the verge of wrapping up April profitably as it maintains its value above $28,600. However, a metric has emerged that indicates a potentially bearish signal for the price of BTC and other cryptocurrencies. The metric in question refers to the dwindling number of stablecoin Tether (USDT) deposits on exchanges, which has…

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OVIX Protocol Falls Victim To $2 Million Oracle Exploit

OVIX, a Polygon-based lending protocol, recently suffered a major setback after being hit by an exploit that cost the platform at least $2 million. In response, OVIX temporarily halted its POS and zkEVM operations while it worked to address the issue and minimize the impact on its users. The intrusion was initially reported by blockchain…

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FDIC Accuses Cross River Bank Of ‘Unsafe’ Lending Practices

In what has been a challenging year for traditional banks, the Federal Deposit Insurance Corporation (FDIC) seems to be increasing its scrutiny of crypto-friendly banks. The Institution sent a cease-and-desist order to Cross River Bank to “self-correct” and properly address the vulnerabilities in its lending operations  The regulator requested that the bank implement greater oversight…

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Twitter To Charge 10% Fee For Subscription Content

Elon Musk is increasing the scope of his Twitter advertising platform. The big boss of the massive social network has made a public announcement that Twitter users will soon be able to make money through subscription. This allows users to send tweets, images, and videos exclusively to their paying subscribers. In an effort to diversify…

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India To Shape The Future Of Crypto Regulation At G20 Summit

India has recently assumed the Presidency of G20, which presents an opportunity for India to showcase its leadership to the world. The G20 is an organization that works to address critical issues related to the global economy, including international financial stability, climate change mitigation, and sustainable development. The G20 Summit is a significant moment in…

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Jack Dorsey’s Block Takes Major Step In Bitcoin Mining Chip Development

Block, a company owned by former Twitter CEO Jack Dorsey, has completed the prototype design of a 5-nanometer high-performance Bitcoin mining ASIC. The company announced this in an update post on April 28, 2023. The US firm noted that developing bitcoin mining ASICs is a technically and financially challenging task. This led to a high…

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US Congressman Patrick McHenry Sets Up Hearing For Crypto Market Structure

One of the controversial topics in the crypto space is regulation. While the community calls for clarity in the regulatory framework, regulators like the US Securities and Exchange Commission act against them without defining the dos and don’ts. This situation has led many crypto firms in the US to seek offshore expansion in crypto-friendly countries.…

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Research Shows 46% Of Millennials In Major Economies Own Crypto

Bitget’s researchers conducted a survey in 26 countries, which gathered responses from a total of 255,000 individuals from four distinct age groups: Millennials, Gen Xers, Gen Z, and Baby Boomers. Some of the countries in the survey were the United States, Nigeria, China, Indonesia, and Japan. Notably, the countries in the survey boast larger populations,…

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Scammers Hack Famous YouTube Channel To Promote XRP Scam

Recently, popular YouTube channel DidYouKnowGaming announced on Twitter that it lost access to its account. Notably, XRP hackers hijacked the channel to promote their scam. The administrators asked for assistance to reclaim ownership of the gaming channel. But this is not the first time such incidents have occurred on YouTube. Recall that Ripple sued YouTube…

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Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin (BTC) investors are showing a high level of optimism despite the recent price volatility, with the Fear & Greed Index tracked by Coinstats Explorer indicating a strong and bullish market sentiment. Currently, at a level of 64, the index is very close to the year’s high, suggesting that investors are more greedy than fearful.…

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