Business

Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K

[ad_1] Bitcoin's (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since recovered above $21,000, key market indicators point toward bears having a significant hold on the current market.Bitcoin Miners to Exchange flow, a metric that indicates the volume of BTC sent by miners to crypto exchanges, rose to a seven-month high of
Business

Seized crypto safe with US Marshals Service? Not so much, new audit reveals

[ad_1] The Office of the Inspector General (OIG) for the United States Department of Justice conducted an extensive audit of the cryptocurrencies seized by the U.S. Marshals Service (USMS) — revealing the dire need for the federal agency to revamp its existing crypto management and policy systems.OIG’s audit on the seized cryptocurrencies found the USMS implementing adequate safeguards over its storage and access. However, the agency was found to be
Business

Biggest Bitcoin exchange inflows since 2018 put potential $20K bottom at risk

[ad_1] Bitcoin (BTC) could be on the verge of a retail major sell-off as exchange inflows spike to almost three-and-a-half-year highs.Data from on-chain analytics platform CryptoQuant shows users of 21 major exchanges sending coins to their wallets en masse June 14.Major exchanges finish up 83,000 BTC in a single dayAs BTC/USD fell to lows of $20,800, panic appeared to set in among traders, and despite a reversal that at one
Business

Legal battle avoided after YGG and Merit Circle DAO agree to a deal

[ad_1] A potential legal battle has been prevented between the Merit Circle decentralized autonomous organization’s (DAO) backing company Merit Circle Ltd and Yield Guild Games (YGG) after the organizations reached a deal after the DAO originally voted to remove YGG.Merit Circle Ltd is a company that created the Merit Circle DAO to help gamers interested in play-to-earn games by lending items from its treasury to be used for gameplay as
Business

Brazilian proposal would make crypto payments legal and protect private keys

[ad_1] A proposed addition to an existing Brazilian law would grant Brazilians the right to use cryptocurrency as a means of payment while protecting their private keys from being taken by the courts.Federal Deputy Paulo Martins issued the proposal to the country’s legislature on June 10. If passed, the bill would expand both the legal uses of cryptocurrency in Brazil and the power the courts would have in confiscating it.BRAZIL:
BLOCKCHAIN

Su Zhu’s cryptic statement as rumors swirl of 3AC liquidations and insolvency

[ad_1] Su Zhu, the co-founder of Singapore-based crypto venture capital firm Three Arrows Capital (3AC) has put out a cryptic statement on Twitter in response to swirling rumors that the company is battling against insolvency. Online chatter about 3AC being unable to meet a margin call began after 3AC started moving assets around this week to top up funds on DeFi platforms such as AAVE to avoid potential liquidations amid