In a groundbreaking case in Scotland, the authorities have seized £110,000 from John Ross Rennie, a 29-year-old individual. This incident has significant implications as it is the first time that proceeds of crime legislation have been used to confiscate cryptocurrency as physical cash. Rennie, from Cambuslang, was convicted of possessing stolen goods after being involved
Crypto
The U.S. Federal Reserve recently issued a cease-and-desist order against United Texas Bank (UTB) for significant deficiencies in its governance, particularly in its adherence to anti-money laundering (AML) laws and risk management related to virtual currency customers and foreign correspondent banking. The central bank’s examination in May 2023 revealed shortcomings in UTB’s board oversight and
Ethereum has been experiencing a significant downturn, with a sharp decline in price following a pullback to the lower boundary of a broken wedge pattern. This decline has been further confirmed by the formation of a death cross, where the 100-day moving average crosses below the 200-day moving average. The overall sentiment in the market
The cryptocurrency market has been experiencing volatility, but that hasn’t stopped large investors from actively participating. Data analysis from Santiment has identified the top ten crypto projects with the highest increase in whale activity, focusing on transactions valued at $100,000 or more. Let’s delve into the projects that have seen a surge in whale activity
The latest US jobs report released on Friday fell short of expectations, with only 142,000 new jobs added in August, well below the anticipated 160,000. This discrepancy has raised concerns about the state of the economy and what actions the US Federal Reserve may take in response. While the job numbers were disappointing, there was
The current state of the Bitcoin market is facing a significant decline in the percentage of Unspent Transaction Outputs (UTXOs) in profit, reaching its lowest level since October 2023. This decline is closely correlated with the recent drop in bitcoin’s price and the overall downward trend in the cryptocurrency market. Analysts are viewing this metric
Toncoin (TON) was once riding high on a bull run at the beginning of 2024, reaching an all-time high of nearly $8.20 in mid-June. However, the tides quickly turned, and the asset is now trading at around $4.80, a significant 40% drop from its peak earlier in the summer. The decline began following the arrest
The world of cryptocurrency is constantly evolving, with the market being heavily influenced by news, trends, and community discussions. Investors who stay informed about these narratives have a significant advantage when it comes to making decisions about their portfolios. Santiment, a crypto research and intelligence platform, has identified several key narratives that have shaped the
Recently, the Future Forward USA PAC, which is in support of Vice President Kamala Harris’ presidential campaign, has made a bold move by accepting crypto donations through Coinbase Commerce. This development comes after some initial confusion caused by comments made by a Coinbase executive at a recent conference. During Citigroup’s 2024 Global TMT Conference in
Bitcoin recently dropped below $56,000, signaling a continued downtrend. According to Arthur Hayes, former CEO of BitMEX, there is a possibility that Bitcoin could further decline to $50,000. Additionally, Hayes suggested that altcoins might face even more significant losses in the near future. Hayes’ pessimistic forecast is largely influenced by the broader macroeconomic landscape. He