Author: Crypto News
Last updated: April 29, 2024 03:28 EDT | 1 min read Pakistan’s plans for a central bank digital currency (CBDC) gained fresh momentum on Sunday, with finance minister Muhammad Aurangzeb raising the debate again.At the World Economic Forum (WEF) special meeting in Riyadh, Aurangzeb highlighted the nation’s undocumented economy as its biggest hurdle, local outlet World Echo reported. He revealed that Pakistan’s annual revenue stands at Rs. 9.4 trillion ($33.7b), but about half of its economy is not officially recorded.He also acknowledged the struggle for financial inclusion, particularly for women facing issues like cash theft by family members. He highlighted…
Last updated: April 29, 2024 02:40 EDT | 2 min read Gas fees on the Ethereum network have experienced a significant drop to their lowest levels in six months, even as the price of Ether saw a slight rally over the weekend. Analysts from crypto analytics platform Santiment suggest that this decline in gas fees could be a signal for an upcoming altcoin rally.According to Santiment’s post on X, the average fee for an Ethereum transaction fell as low as $1.12. The platform explained that transaction fees often follow cycles of investor sentiment, swinging between extreme optimism and pessimism. Gas Fees Drop During Market…
Last updated: April 29, 2024 02:10 EDT | 1 min read Thai authorities recently cracked down on a crypto mining operation suspected of stealing electricity. The raid in Samut Sakhon and Ratchaburi netted over 650 mining devices valued at more than 200m baht (about $5m).Acting on tip-offs about unusually high electricity use, officials from Thailand’s Cyber Crime Investigation Bureau and the Provincial Electricity Authority (PEA) secured warrants and raided the two locations, the Bangkok Post reported Monday.The raid in Samut Sakhon targeted a surprising location – a temple compound in the Ban Phaeo district. Here, authorities seized 187 crypto mining…
Last updated: April 28, 2024 23:57 EDT | 2 min read Asset management firm Franklin Templeton has listed its Ethereum exchange-traded fund (ETF) under the ticker EZET on the Depository Trust and Clearing Corporation (DTCC) website.The “Franklin Templeton Ethereum TR Ethereum ETF” is listed in the create or redeem column on the DTCC website. The product has yet to be approved by the U.S. Securities and Exchange Commission (SEC).Franklin Templeton Awaits ApprovalOn February 12, Franklin Templeton was the latest asset manager to file a spot Ethereum ETF application with the SEC — joining a long list of asset managers such…
Last updated: April 28, 2024 23:30 EDT | 2 min read Tron CEO and founder Justin Sun said it is unlikely an Ethereum exchange-traded fund (ETF) will be approved in May with the cryptocurrency in need of “long-term education with regulators.”Numerous analysts have already said the Securities and Exchange Commission (SEC) is expected to deny their applications to launch an Ethereum ETF. In an X post, the crypto mogul weighed in on the subject matter, adding: My honest opinion (NFA) is that an Ethereum ETF won’t be approved in May. The crypto industry still needs to prepare for a long-term…
GambleFi is booming. It has the potential to become one of the most successful crypto niches of 2024. The latest project to win the spotlight in the market is Insanity Bets ($IBET). The online gambling platform has gone viral across different crypto and casino communities with the launch of its token presale. The project’s mission to decentralize the industry is at the heart of the growing craze. GambleFi is About to See a Wave of ChangesInsanity Bets is predicted to make waves upon its debut on crypto exchanges. The presale momentum indicates the large growth potential of the project. The project offers a…
Last updated: April 28, 2024 23:00 EDT | 3 min read Crypto-powered narcotics gangs have turned Korean-language Telegram channels into “drugs department stores” and a “playground” for young South Koreans, media outlets reported on April 28.Newspapers such as Seoul Kyungjae noted that it has been almost a year since South Korean President Yoon Suk-yeol called for an “all-out war” on crypto-powered drug trafficking.Yoon’s comments came after police reported dozens of cases of narcotics trading by teenagers and people in their 20s.However, it now appears that some Telegram channel operators know that police are monitoring their channels – and are responding…
Last updated: April 28, 2024 19:30 EDT | 3 min read A Russian “crypto ban’ could roll out as early as September 1, top lawmakers in the country have confirmed.Speaking to the media outlet NSN, the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said lawmakers will vote on a “ban on organizing the circulation of cryptocurrencies” in the coming weeks.Russian ‘Crypto Ban’ – What We KnowAksakov stated that the bill will stipulate that “only digital financial assets issued in Russian jurisdictions” will be exempted from the new law.These assets will include several Russian bank-issued blockchain-powered…
Last updated: April 28, 2024 12:00 EDT | 2 min read ACINQ’s Phoenix Wallet and zkSNACKs’ Wasabi Wallet have decided to discontinue their services for customers in the United States. The move comes as a response to the recent crackdown on self-custodial cryptocurrency wallet providers by regulatory agencies. Both companies have expressed concerns about the classification of self-custodial wallet providers as legitimate money service businesses, following actions taken against Consensys, the creator of Metamask, and crypto mixer Samourai Wallet.zkSNACKs Bans U.S. UsersIn an official statement on April 27, zkSNACKs announced that it would prohibit U.S. users from utilizing its services due to recent announcements by U.S. authorities. Similarly, ACINQ explained in a post on X on April 26 that recent…
Last updated: April 28, 2024 10:34 EDT | 2 min read Dogecoin Price PredictionIn the latest Dogecoin price prediction, a notable 24-hour trading volume of $700 million has propelled DOGE to a 2.75% increase, trading at $0.150180. As this meme-inspired cryptocurrency retains its 8th place on CoinMarketCap with a market cap of roughly $21.64 billion, market watchers speculate on the movements of large-scale investors.Dogecoin Leads Crypto Surge as Market Anticipates Pivotal DevelopmentsIn the past year, Dogecoin, along with Bitcoin, Ethereum, and XRP, has seen substantial growth, with Bitcoin surging about 350% from lows of $15,000 and pulling the overall crypto…