Jump in NFT demand reflects crypto prices, right? Wrong
An asset bought and valued in crypto becomes decoupled from crypto prices, a split that reflects the differences between crypto investors and NFT buyers.
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NFTs can upend the music business. Artists should take note
Blockchain technology allows musicians to sell songs directly and earn more per song, writes Adi Ben-Ari of Applied Blockchain.
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India needs to make up its mind over crypto
Although India hoped that taxation would be a step toward regulation rather than a ban, the high tax rates and proposed rules seem to be geared toward dissuading crypto trading.
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11 arrested in India’s five-year, $5.4M crypto scam
Indian authorities arrested 11 individuals over the weekend, connected with a crypto scam case that allegedly used the allure of high gains to dupe 2,000 investors out of US$5.4 million (INR 400 million), local media reported. Fast facts Four of the accused were apprehended on Saturday after being on the run since March last year,…
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‘Extreme fear’: Bitcoin continues bear run, while Solana is up
Bitcoin, the largest cryptocurrency by market capitalization, continues to tank along with other cryptocurrencies in the global market, with investor sentiment at “extreme fear” at Bitcoin’s Fear and Greed Index. See related article: Bitcoin leads market-wide downturn as Russia fears rise Fast facts Bitcoin is currently down by almost 2% to trade at US$39,185. Bitcoin’s…
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South Korea’s largest financial group mulls crypto ETFs
South Korea’s KB Asset Management launched a committee on Monday that will develop investment strategies for releasing digital asset products such as exchange-traded funds (ETFs). See related article: South Korean banks find workaround to cash in on crypto services Fast facts The ‘Digital Asset Management Preparatory Committee’ aims to be the first to launch digital…
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BIT Mining ditches Kazakh data center due to rocky power supply
BIT Mining, a Hong Kong-headquartered cryptocurrency miner, has terminated its data center construction in Kazakhstan due to an unstable local power supply, the company said in its quarterly report. See related article: Crypto mining’s Great Migration continues — out of Kazakhstan Fast facts BIT Mining now abandons a US$9.3 million pledge to a Kazakh data…
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Crypto market rebound is short-lived as Russia tensions loom
Investor relief at last week’s slight market rebound gave way to concerns over military tensions in Ukraine, sending crypto and traditional markets reeling.
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Israel added to Binance’s list of global regulatory trouble spots
Israel’s capital market watchdog is asking major cryptocurrency exchange Binance for clarifications on its services in the country and licenses under which it operates, local media reported Thursday. See related article: Binance US under probe for ties with trading affiliates: report Fast facts Binance has stopped all Israel-focused activities and marketing, the Globes reported, citing…
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Biden to order crypto oversight: report
President Biden’s executive order directing agencies to devise a comprehensive strategy to regulate cryptocurrencies and other digital assets and examine a digital dollar may be issued next week, according to Yahoo! Finance. Fast facts The order, expected weeks ago, was delayed by a disagreement between the White House and the Treasury over its scope, Bloomberg…