Category: crypto

Hardware wallet maker Ledger is facing significant backlash for its recent introduction of a tool enabling users to back up their seed phrases through the transmission of encrypted key fragments to third-party firms. The crypto community has not embraced this new feature, with numerous digital currency users venting their frustration on social media platforms. Ledger’s Backup Tool Sparks Outrage in Crypto Circles In a recent move, hardware wallet manufacturer Ledger unveiled their latest tool, Ledger Recover. Unfortunately, the reception within the crypto community has been far from positive. “Ledger Recover…

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Bitcoin fell below the $27,000 level on May 17, as market uncertainty remained high amidst the debt ceiling crisis in the United States. Congress continues to negotiate terms of a potential increase to the limit, before the U.S. government runs out of cash on June 1. Ethereum also dropped, breaking out of the $1,800 level. Bitcoin Bitcoin (BTC) moved below the $27,000 level on Wednesday, following yesterday’s U.S. Retail Sales report. BTC/USD moved to a low of $26,785.41 earlier in today’s session, which was following Tuesday’s peak at $27,223.07. Today’s…

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Bitcoin.com is proud to announce that it has reached a significant milestone in its mission to increase the adoption of cryptocurrency worldwide: the creation of the 40 millionth crypto wallet in the multi-chain, DeFi-ready Bitcoin.com Wallet. Since its inception in June 2017, the Bitcoin.com Wallet has seen a rapid rise in user adoption, reflecting the increasing acceptance and adoption of cryptocurrency around the globe. It took nearly two years for Bitcoin.com to reach its first five million wallets. In contrast, the recent fifteen million wallets have been created in just…

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Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service The Federal Tax Service of Russia (FTS) will likely be the nation’s leading regulator for the cryptocurrency sector and admit participants to the market, Deputy Finance Minister Alexey Moiseev has said in interview with the…

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Kaspersky, the multinational cybersecurity and anti-virus provider, made a startling revelation on May 10th. According to their report, a victim of a crypto hack had unwittingly purchased a counterfeit Trezor Model T from a “trusted seller through a popular classifieds website.” The researchers at Kaspersky were able to extract the custom firmware that the hackers had installed on the device. This revealed that the private key was already known to the hackers before the victim had even purchased the machine. Cybersecurity Firm Kaspersky Investigates Phony Trezor Hardware Wallet It seems…

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According to Eun Young Choi, the head of the crypto unit at the U.S. Department of Justice (DOJ), the United States has resolved to target digital platforms because they are making it easy for criminals and money launderers. Choi said the DOJ hopes taking action against entities such as crypto exchanges is “going to have a multiplier effect.” DOJ to Target Mixers and Tumblers The U.S. Department of Justice (DOJ) will target digital asset exchange platforms and entities providing mixers and tumblers which are used to obfuscate the trail of…

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South Korean prosecutors have raided two of the country’s largest coin trading platforms within an investigation into the crypto investments of a politician. They seized materials from Upbit and Bithumb amid suspicions of wrongdoing related to the lawmaker’s cryptocurrency holdings. South Korean Law Enforcement Authorities Check Records From 3 Crypto Platforms Investigators from the Seoul Southern District Prosecutor’s Office raided two leading domestic digital asset exchanges on Monday as part of an investigation launched in response to a growing scandal with the suspicious crypto dealings of an opposition lawmaker. Kim…

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On January 3, 2009, Satoshi Nakamoto mined the Genesis Block on a small server in Helsinki, Finland, and received a reward of 50 bitcoins, which marks the beginning of crypto mining. From CPU to ASIC In Satoshi Nakamoto’s initial vision, BTC mining could be performed using CPUs installed on PCs. During its infancy, Bitcoin remained obscure and offered no value. It wasn’t until 2010 when Bitcoin enthusiast Laszlo Hanyecz argued that GPUs could perform more computations per second than CPUs and tried to use GPUs for mining, and he was…

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Indonesia is introducing a new national payment system as the country furthers its de-dollarization efforts and protection against “possible geopolitical consequences.” The new payment system will replace Visa and Mastercard in state-owned institutions and companies, a top central bank official said. “We expect that very soon it will become widespread.” Indonesia Establishes New National Payment System Indonesia will introduce a new national payment system that will replace Visa and Mastercard in state-owned institutions and companies, according to Dicky Kartikoyono, Bank Indonesia’s Head of Strategic Management and Governance Department. The central…

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The BRICS countries are developing guidelines in response to increasing demand from countries seeking to join, according to South Africa’s Foreign Affairs Minister Naledi Pandor. “BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest,” she detailed. “Many countries are looking for a multipolar forum that is modern, inclusive, and focused on the common good.” Interest in BRICS Membership Rises South Africa’s Minister of International Relations and Cooperation Naledi Pandor has…

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