Day: June 20, 2022
Business

Chinese court invalidates 2019 car sale made using now worthless crypto token

[ad_1] Last week, a WeChat post published by the Shanghai Fengxian Court began circulating in crypto circles with regards to its recent ruling on a car sale in May 2019 made using digital currency. At the time, the buyer, identified only as Mr. Huang, signed a sales contract to purchase a 2019 Audi AL6 for CNY 409,800 ($59.477) in exchange for the consideration of 1,281 Unihash (UNIH) tokens with an
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Business

HM Treasury changes course on collecting data around unhosted crypto wallets

[ad_1] The government of the United Kingdom said it intends to modify a proposal that would have required crypto firms to collect personal data from individuals holding unhosted wallets who were the recipients of digital asset transfers.In its Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds updated on June 15, HM Treasury said it will be scaling back its requirements to gather data from both the senders
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Business

Bitcoin futures enter backwardation for the first time in a year

[ad_1] Bitcoin's (BTC) month-to-date chart is very bearish and the sub-$18,000 level seen over the weekend was the lowest price seen since December 2020. Bull’s current hope depends on turning $20,000 to support, but derivatives metrics tell a completely different story because professional traders are still extremely skeptical.BTC-USD 12-hour price at Kraken. Source: TradingViewIt’s important to remember that the S&P 500 index dropped 11% in June and even multi-billion companies
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ALTCOIN

Bitcoin Mints Over 13,000 ‘Wholecoiners’ in the Last Days 

[ad_1] The number of Bitcoin wallets containing one or more BTC over the past week increased by 13,091 and the total number of ‘wholecoiners’ also recorded an additional 865,254 wallets. Although Bitcoin experienced a down price action, the number of whole coiners increased drastically. Since May 10, the market price of bitcoin has plummeted. However, over the last ten days, more than 14,000 whole coiners have joined the market.
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BLOCKCHAIN

Ex-Sushi CTO Raises $8 Million for Astaria, an NFT Lending Platform

[ad_1] Astaria, a non-fungible token (NFT) lending platform and liquidity engine, has acquired $8 million in early capital to support its development throughout the down market. True Ventures, Arrington Capital, Ethereal Ventures, Wintermute, Genesis Trading, LedgerPrime, Hypersphere Ventures, The LAO, and several other investors participated in the preliminary round of funding.   Users can use Astaria to generate instant liquidity by putting up their NFTs as collateral. According to Justin Bram,
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Business

Iranian government to cut power supply for the country’s legal crypto mining rigs

[ad_1] According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran's Ministry of Energy, said that the entity would be cutting the power supply to all of the country's licensed crypto mining firms by the beginning of July.Citing an anticipated electricity deficit from the peak-summer season, Mashhadi stated, "There are currently 118 authorized [digital currency] extraction centers in the country, which must cut off
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Business

More ‘forced selling’ ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever

[ad_1] Canada's Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto's most-experienced investors.Purpose Bitcoin ETF has 51% of AUM slashedThe fund's holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever.Purpose Bitcoin
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