Crypto Exchange News & Updates

Fraudsters posing as Michael Saylor strip people of over $4 million in Bitcoin

A few days ago, Elliptic, a blockchain analytic firm, reported that unsuspecting individuals had cumulatively lost over $10 billion to crypto frauds and scams.　　Today, a Bitcoin user has now added to that figure after losing 3 BTC (the equivalent of $179,000) to an impersonator of MicroStrategys chief executive officer Michael Saylor, in what appears to be a giveaway scam.Fraudster impersonates Michael Saylor　　According to Whale Alert, the said scam took place on November 21, with the fraudster using the website “mstrategy.io/bit” to parade himself as the pro-Bitcoin CEO of the firm. He then proceeded to request visitors of the site to send some Bitcoin to a designated address with the promise of doubling the amount for them. 　　“Michael Saylor believes that Blockchain and Bitcoin will make the world fairer. To speed up the process of cryptocurrency mass adoption, We decided to run 5 000 BTC giveaway,” the scam site reads.　　As of press time, the scammers address has received over 80 BTC that are cumulatively worth over $4.5 million from 50 transactions. Available data also shows that the fraudster has transferred 72 BTC out of the wallet, leaving the current value of the address at 10 BTC ($562,335.38).Scam projects tend to impersonate

2021-11-24Deep Dive

Binance eyes “sovereign wealth funds” to battle regulatory troubles

The largest cryptocurrency exchange by trading volume, Binance, is planning to get funding from some global sovereign wealth funds for equity financing in its bid to improve its relationships with regulators around the world.Binance seeks funding from sovereign wealth funds　　In an interview with Financial Times, the CEO, Changpeng Zhao, who is currently the largest shareholder of the company revealed the intention of the firm towards the upcoming mega funding.　　With this funding, it is hoped that the “perception and relationships” being held by governments about the exchange would drastically improve in the face of its regulatory battles across the globe.　　While refusing to name some of these wealth funds, CZ revealed that discussions are currently ongoing and it is in its early stages with these institutions. 　　CZ continued that he was wary of tying his company to one specific country as the crypto firm is currently facing its regulatory battles across different fronts.　　Youll recall that authorities in Germany, Italy, Singapore, the United Kingdom, and South Africa have at different times warned their citizens about using the exchange for their transactions.　　Notably, Binance.US, the US arm operating independently of the global exchange, is looking to raise a “couple hundred million dollars” by early next

2021-11-24Deep Dive

Coinbase Plans to Spend More of its Cash on Crypto After USD 500M Buy

The crypto exchange giant Coinbase has stated that it wants to spend even more of its profits on buying cryptoassets – but has admitted that its plans will hinge on the sectors growth prospects.　　The company and its CEO Brian Armstrong were speaking after Coinbase unveiled plans to splash USD 500m of balance sheet funds on coins, including ethereum (ETH), as well as unspecified “proof-of-stake assets” and decentralized finance (DeFi) tokens “in addition to bitcoin (BTC).”　　Armstrong made his announcement on Twitter, while the company also affirmed its plans in a blog post – explaining that it would be investing 10% of all of its quarterly profits in crypto purchases.　　But Armstrong hinted that the move might lead the company yet further away from its still largely cash-based model. He wrote:　　“I expect this percentage to keep growing over time as the cryptoeconomy matures. Hopefully, over time we can operate more of our business in crypto – today it is still a mix.”　　The CEO claimed that the Coinbase board had signed off on the move after agreeing to a “change in our investment policy.”　　　　The firm wrote that it had “committed to invest USD 500 million of our cash and cash equivalents” in the purchases.

2021-08-20Deep Dive

CyberKongz' mass monkey minting burns $4M in Ether in 5 hours

The latest craze in animal themed nonfungible tokens has been such a big hit that it has become the top burner of Ethereum transaction fees over the past 24 hours.　　CyberKongz, which started as a collection of 1,000 unique NFTs in early March 2021, has surged in popularity recently. So much so that it has today usurped NFT marketplace OpenSea and the worlds most popular decentralized exchange, Uniswap, in terms of Ethereum fee burning.　　The achievement was noted by the Chinese blockchain outlet Wu Blockchain which reported that it had burned 1,240 in ETH, or around $4 million in just 5 hours.　　The mass monkey minting has caused gas prices to skyrocket with average transactions reaching their highest level since late May at around $25. Etherscans gas tracker is reporting higher prices of over $40 for more complex operations such as smart contract interactions.　　At the time of writing, the ETH fee burning tracker ultrasound.money was reporting that CyberKongz VX had been responsible for the burning of 1,430 ETH, or $4.7 million, over the past 24 hours. It was still ahead of both OpenSea and Uniswap — in fact it burnt more than both of them combined.　　According to OpenSea, there are now 3,000 NFTs

2021-08-16Deep Dive

ROInvesting Extends Partnership with Italian Club AC Milan

ROInvesting, a leading online trading platform, recently announced that the company has extended its collaboration with AC Milan, one of the most prominent Italian football clubs. In April 2020, AC Milan welcomed ROInvesting to the clubs commercial partners.　　According to an official press release, ROInvesting is planning to expand its international reach through the latest partnership renewal. The broker also highlighted a substantial surge in its client base during the last 12 months.　　ROInvesting mentioned that the broker took several initiatives to support different community causes in Milan during the last year. ROInvesting aims to enhance its brand awareness through the recent partnership extension with AC Milan.　　Commenting on the partnership renewal, Casper Stylsvig, Chief Revenue Officer at AC Milan, said: “As a Club, we are delighted to continue our journey with ROInvesting. They have proved to be a fantastic partner with a keen eye for off-the-pitch community work, supporting Fondazione Milans initiatives in response to the Covid-19 pandemic in time of need.”　　ROInvesting is the brand name of Royal Forex, a Cyprus-based investment firm. The financial services provider is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker is offering trading services in several assets including foreign exchange (FX), commodities and

2021-08-10Deep Dive

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