BlockFi lost over $221 million during the 2021 Bull Run Sources | Curated CoinCodeCap #21 June 2022
Crypto Regulation, DAO Wars, DeFi Sagas, Bitcoin Supremacy, and Digital Avatars, all here with market updates and a meme.
While Bitcoin paves the path for crypto mass adoption, Ethereum becomes the sword of Keyboard warriors. Here’s what happened to the market yesterday:
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Deloitte Partners with NYDIG to Help Institutions Adopt Bitcoin
With big collaborations happening in the crypto space, the global professional services organization, Deloitte has also announced its partnership with the leading bitcoin company, NYDIG. The strategic partnership has been finalized to help companies in different sectors implement the usability of virtual assets in their businesses. Keep Reading »
VeChain announces that its Upgrade to the Proof-of-Authority 2.0 is live on a Private Testnet
The self-developed comprehensive blockchain network, VeChain Thor (VET) shared that its latest upgrade to VIP-220, a proof-of-authority 2.0 is live on a private test net. The tagline of the update, ‘Finality-With-One-Bit’ talks about the latest implementation, a finality gadget FOB. Keep Reading »
Deutsche Bank Projects a “severe recession in late 2023”
Leading Financial Institution Deutsche Bank is now hinting at an upcoming recession in late 2023. The bank updated its forecast, stating that it now expects an “earlier and somewhat more severe recession.” Deutsche Bank projects a 3.1% contraction of the GDP in the third quarter of next year. Keep Reading »
SEC Chair alerts of ‘Too Good to Be True’ Crypto Products
Recently, SEC Chairman Gary Gensler issued a warning to investors about crypto financing systems that use products that appear too good to be true. Gensler spoke digitally at the Robert F. Kennedy Human Rights Compass Investor Conference, saying the SEC would focus on cryptocurrency projects and exchanges, warning individuals about potentially promising investment returns. Meanwhile, the US Treasury Department claims that the latest crypto market volatility highlights the critical need for regulatory regimes that reduce the vulnerability posed by digital assets. Bitcoin had previously hit a new 18-month low after major crypto lender Celsius Network froze withdrawal effects and the possibility of sharp U.S. interest rate increases shook the volatile asset class. Keep Reading »
Top Chinese Messaging app WeChat bans NFT/Crypto Related Accounts
China is grabbing the attention of crypto enthusiasts again. The recent news comes in the form of Messaging giant WeChat deciding to ban crypto and NFT-related accounts on its platform. WeChat states that “engaging in virtual currency or digital collection business” under its “Illegal business operations” is considered as “violating content.” Keep Reading »
CoinDCX Wallet Maintenance gets extended indefinitely
CoinDCX announced that its wallet maintenance is extended until further notice.” We are trying our best to complete the upgrade at the earliest possible and keep you posted. During this time, deposit and withdrawal services will continue to remain suspended on our exchange” reads the official announcement. Keep Reading »
South Korea Postpones 20% Crypto Tax Until 2025
South Korea’s planned tax on digital assets has been postponed for another two years, according to fiscal chief Ko Kwang-Hyo of the Ministry of Economy and Finance, and the tax on crypto assets will begin in 2023. Keep Reading »
Iran to cut off Power for even Legal Crypto Miners
Iran’s co-relation with the crypto mining industry screams mixed signals and is a perfect example of a love-hate situation. Iranian authorities have declared that crypto-miners working in the country will lose power by June 22. The government has planned, according to the Tehran Times, to guarantee that citizens have plenty of electricity. A spokesman for the Iranian Energy Ministry, Mostafa Rajabi Mashhadi, stated that the Asian country expects a higher rate of energy consumption beginning next week. Keep Reading »
CoinCodeCap’s Weekly Issue #10
Since the fall of Terra, the crypto market has been having a hard time regaining its balance. The suspicious downfall of the Korean currency dragged its founder into a series of legal events. But Terra is not the only shady one here. MIM, with the name itself being Magin Internet Money, maybe be nearly insolvent, signifying another major stablecoin with over $300 Million Market cap can follow the path of Terra’s UST. I don’t know what everyone thought by working on their own algorithmic stablecoins. However, the present system of maintaining the peg of a stablecoin is not worth the retail losses happening. Keep Reading »
Market Updates
Bitcoin(BTC) Price Analysis June 2022
Bitcoin’s current price is around $20,770, with a low of $20,750 in a 1year timeframe, and has a market cap of $4.37 billion. Keep Reading »
Ethereum Price Analysis June 2022
Ethereum ’s current price is around $1,219.64, with a low of $1,094.70 in a 1year timeframe, and has a market cap of 147 billion dollars. Keep Reading »
DASH Price Analysis May 2022
DASH is a token of the platform Dash. Its current price is around $47.55 by the time of writing, with a low of $45.88, and has a market cap of 513 million dollars. Keep Reading »
CAPS Price Analysis June 2022
CAPS is a token of the platform Ternoa. Its current price is around $0.01851 by the time of writing, with a low of $0.01495, and its market cap is 12 million dollars. Keep Reading »
Crypto to Look Out for this Week: BTC, ETH, BSV, ICX, NEO
The price of cryptocurrencies has dropped by 60% in the last few months. This has made it hard to deny that we are in a bear market. The prices for smaller assets such as ZCash also decreased by over 80%, and other significant drops were noted across the board. Keep Reading »
Top 3 Metaverse Crypto to Look Out for in June 2022: ONT, APE, MANA
ONT is the cryptocurrency of Ontology, a distributed ledger technology that uses consensus protocols and verifiable rules to ensure security & integrity. The price of Ontology will most likely increase in the future and is expected to be a good investment. ONT is built on the Ontology Blockchain. It is a high-speed, low-cost public chain that provides decentralized identity and data solutions to other chains in Web3. Keep Reading »
Crypto Gambling Coins to Look Out for This Week
Crypto gambling has exploded in recent years as more and more people around the world are continuing to take advantage of the many benefits that can be enjoyed when virtual currency is used. Keep Reading »
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