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Digital Yuan

Digital Yuan-themed scam: Chinese police warns residents to be careful

TL;DR Breakdown Chinese police warn residents of a CBDC-related scam. The fraudsters claimed that they are digital Yuan promoters. So far, they have successfully duped not less than 500 citizens. Police caution residents over Digital Yuan scam One of the fore complaints of cryptocurrency is that it is used as a front for criminal activities. …

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Institutional investors

Institutional investors move 13,000 BTC from Coinbase to cold storage

TL;DR Breakdown  Bitcoin price rises as institutional investors purchase 13,000 BTC. The purchased BTC was moved to cold storage. Coinbase premium rise indicates a high buying pressure, CryptoQuant CEO, Young. Institutional investors purchase more BTC  There seems to be some optimism for BTC even after the price traded around $45k yesterday. CryptoQuant CEO, Ki Young Ju, revealed that about 13,000 …

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Coin

Legal actions to retrieve stolen coins: What is the success rate?

TL;DR Breakdown Dr Craig Wright’s attempt to retrieve stolen coin could awaken wider public to possibility of getting missing assets back. Government disposition towards cryptocurrency would determine success or failure of attempts to retrieve digital assets. The security of cryptocurrency systems is a simple yet complex chain of contradictory commands, safe yet unsafe. The blockchain …

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FATF

FATF to update its guidelines on stablecoins and virtual asset service providers

TL;DR Breakdown FATF sets to revise its guidelines for VASPs and stablecoins. The new document will be made official in June and will be an upgrade to the travel rule for VASPs. FAFT set to revise its guidelines   The Financial Action Task Force (FATF) looks to upgrade its guidelines on stablecoins and crypto P2P transactions. It revealed that it is …

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Falling GBTC premium

Falling GBTC premium may cause investors to dump BTC – Peter Schiff

TL;DR Breakdown Peter Schiff, a Bitcoin critic, says Grayscale may cause Bitcoin to dip further The comment came in after GBTC closed at -5%. The dip will cause Grayscale to sell its Bitcoin reserve. Falling GBTC may cause Bitcoin to drop further A popular Bitcoin antagonist, Peter Schiff, revealed through a tweet that the falling GBTC …

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bitcoin

Dubai fund to trade $750 million Bitcoin for Polkadot and Cardano

TL;DR Breakdown Dubai fund FD7 Ventures is planning to sell $750 million Bitcoin for Cardano and Polkadot. They said Bitcoin is actually useless. FD7 Ventures, a Dubai-based global cryptocurrency investment fund, has lost interest in Bitcoin (BTC), which has been their dominant crypto-asset. The Managing Director of the Dubai fund, Prakash Chand, mentioned that the …

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business

Robinhood Crypto records 6 million customers in 2021

TL;DR Breakdown About six million new traders have joined Robinhood Crypto since this year. Robinhood already sees a boom in crypto trading with average new monthly users surging by 15x. In a recent update on Thursday, the popular American retail trading platform, Robinhood, reported a massive increase in the number of new customers trading digital …

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