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Also Read: Top Crypto Tokens To Unlock In June advertisement Crypto And Fentanyl Connection Senator Elizabeth Warren mentioned data collected by a research firm Elliptic in order to assert her claims. The report stated that Chinese businesses are fueling the Fentanyl Epidemic and receiving millions of money in the form of crypto payments. As per Elliptic research, more than 90 China based enterprises offered to supply fentanyl precursors. It added that 90% of these businesses accept crypto in payments and claim that they shipped the fentanyl to Mexico as well. The reported claims that the majority of these businesses were ready to deliver fentanyl when the same chemical is being banned in China since 2019. Elliptic assets that blockchain Analysis depicts these Chinese businesses have received thousands of payments in their crypto wallets. Read More Crypto News Here… Recommended Articles ...

The total crypto market cap dropped 1.89% over the past 24 hours according to CoinMarketCap – taking the collective total to around $1.14 trillion. During this time period, Bitcoin (BTC) had also fallen victim to the market-wide selloff, as its price dropped by 2.35%. As a result, the market leader was changing hands at $27,148.11. Daily chart for BTC/USDT (Source: TradingView) The crypto’s price had dropped below the 9-day and 20-day EMA lines earlier in today’s trading session, and continued to trade below the two technical indicators at press time. This drop came after BTC’s price faced rejection from the key resistance level at $28,750 on Monday. Despite the drop in BTC’s price over the last 3 days, technical indicators still suggested that the market leader’s price would enter into a bullish move in the coming week. A notable bullish technical flag that was on the verge of being triggered was the 9-day EMA line which was looking to cross above the longer 20-da...

Join Our Telegram channel to stay up to date on breaking news coverage After initially trying to create a state-owned crypto ex change , Russian lawmakers have decided to drop these plans in ex change for developing rules and regulations for existing platforms. A recent report by a local news outlet said that the authorities had abandoned the initial idea. The head of the State Duma committee, Anatoly Aksakov, said that rules for establishing and operating similar structures are now the main focus among the lawmakers. 1️⃣ Russia has just shocked the world by backtracking on its highly anticipated national #crypto ex change plans 🔥 👉 The twist? They’re focusing on private sector alternatives instead 😱 — Keyur Rohit (@CryptoKingKeyur) May 30, 2023 Russia now seeks to regulate crypto exchanges The news spread on Twitter quickly after Colin Wu of Wu Blockchain published it early on Monday morning. He said, Russian lawmakers...

More than 386 million OP tokens are scheduled to be unlocked on May 31, more than doubling the total circulating supply. More than 386 million Optimism (OP) tokens — worth $587 million at current prices — are scheduled to be unlocked on May 31 as the initial vesting period for early contributors and investors comes to an end, prompting concerns about downward price pressure. The May 31 OP unlock is one of the largest scheduled unlocking events of this year. With a current total circulating supply of just 335 million OP tokens, the unlock could potentially see the circulating supply increase by more than 100%. Optimism will unlock 9% of total $OP supply tomorrow This is the 1st unlock for core contributors & investors At current token price, potential selling pressure ~$600M pic.twitter.com/g7sg1vXMkM — Token Terminal (@tokenterminal) May 29, 2023 According to analysis from token unlock research firm Unlock Calendar, there’s a reasonable chance that the Optimism unlock could crea...

Lawsuits from law enforcement agencies have become more prevalent than ever in the crypto industry. The Securities and Exchange Commission [SEC] went on slapping lawsuits across the industry. In line with this trend, the SEC filed a lawsuit against Gemini, a major crypto exchange, in January 2023, specifically targeting Gemini’s yield-bearing product, Earn. However, in a recent revelation, Gemini has taken a new approach by urging the court to dismiss the SEC’s lawsuit. In addition to Gemini, bankrupt crypto lender Genesis was also dragged into the lawsuit. The lawsuit alleges that the Earn program was an unregistered offering. Through this, the two firms raised billions of dollars worth of crypto assets from hundreds of thousands of investors. The SEC’s claims revolve around the alleged breach of registration requirements. The solicitation of investments without the proper regulatory oversight was also pointed out. In the latest filing, Gemini was seen trying to dismiss these ...

Despite myriad challenges facing the general crypto market, the non-fungible token market has remained strong. The crypto market is down as most investors fear a regulatory crackdown on the sector, uncertainty due to rising interest rates in the United States and the United Kingdom, and the alarming rise in the debt ceiling. NFT Sales Drop 10% In The Past 7 Days According to CryptoSlam, an on-chain market data aggregator, the non-fungible token market has showcased strong resilience amid the recent crypto market turbulence, flipping just 10% from last week. In the past seven days, the NFT market has recorded a trading sales volume of $153 million. During this period, the non-fungible token market has seen a sharp increase in the number of traders transacting in the ecosystem. The number of NFT buyers has surged by 45% to 522,464, pushing the number of total transactions in the global NFT market to surpass 2 million. In the past seven days, NFT transactions have surged by 7%. Bitcoi...

Cointelegraph analyst and writer Marcel Pechman explains why the cryptocurrency market has lost 60% of its market cap, with the S&P 500 only about 15% from its all-time high. Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. The latest Macro Markets show begins by exploring why the crypto market capitalization is some 60% below its all-time high, while the S&P 500 is less than 15% away from its peak. For Pechman, the sector is suffering from a huge problem, as it doesn’t fit a commodity nor does it fit a foreign exchange currency. Moreover, not every mutual fund can hold crypto. The lesson? If Bitcoin (BTC) and Ether (ETH) are mostly understood as alternative risk assets, that’s how they’ll trade. Consequently, one should not waste time looking fo...

The crypto market has been quite volatile over the last couple of weeks. Abrupt yet dainty surges and falls have left the community wanting more. Among the affected groups, the Shiba Inu [SHIB] community has faced significant losses. Data provided by IntoTheBlock reveals that a staggering 81% of SHIB holders are currently experiencing losses. Only 15% have managed to achieve profits. This data highlights the challenging situation faced by a number of SHIB investors during this period. Amidst the ongoing trend of losses, the community holds onto the hope of brighter days ahead. This optimism was recently reinforced by PricePredictions, a prominent crypto monitoring and price prediction platform. According to their Analysis , Shiba Inu is anticipated to close the month of May on a positive and promising note. Based on the predictions generated by the machine learning algorithm, it is anticipated that Shiba Inu will have an estimated price of approximately $0.000092 by May 31, 2023. ...

Crypto Twitter claims that cryptocurrency recovery solutions company Unciphered’s video of hacking into a Trezor T is simply FUD. Users have detailed that Unciphered’s hacking method requires the attacker to physically hold the victim’s wallet before performing the exploit. Furthermore, users claim that all that is required to protect private keys is a strong passphrase. I saw this coming from miles away. You thought Ledger would lose customers to Trezor without putting up a fight? Trezor’s vulnerability to physical access is a design choice to avoid using closed source security chips. You can mitigate it with a passphrase. More FUD pic.twitter.com/bnxhncgX91 — Vlad is Breaking FUD (@TheVladCostea) May 24, 2023 Some users contend that the hacking news has been misinterpreted and isn’t particularly important. Three years ago, Kraken Security Lab researchers discovered the Read Protection (RDP) Downgrade attack which exploited the physical vulner...

The only thing that’s hindering Shiba Inu from reaching the $0.01 mark is the absence of a strong burn portal. The unavailability of a burn mechanism has stopped SHIB’s valuation growth. SHIB deleted six ‘zeroes’ in 10 months in 2021 making early investors turn millionaires in a short period. The late entrants are now left with bags full of tokens that are heading south as each month passes. The development is testing the patience of investors who believe that SHIB is their gateway token to attain financial freedom. Also Read: Shiba Inu Could Reach $10 by 2024? Here’s a Reality & Fantasy Check Shiba Inu: Which Platform Burns Trillions of Tokens? Source: Wallpaperflare.com The first SHIB burn entity was Steven Cooper’s Bigger Entertainment, where they burned SHIB tokens through music playlists. In addition, several products were added for burns including merchandise and other options that removed tokens from circulation. Unfortunately, Cooper announced that Bigger En...

Join Our Telegram channel to stay up to date on breaking news coverage Cryptocurrency exchange, Binance, faces allegations of mixing customer funds with its revenue at a U.S. bank in 2020 and 2021.  A source with direct knowledge of company finances told Reuters about the commingling. It occurred almost daily in Binance accounts at Silvergate Bank and involved billions of dollars. Binance Under Fire for Mixing Customer Funds with Revenue Three former U.S. regulators cited in the Reuters’ report stated that the fund flows indicated a lack of internal controls to ensure customer funds were identifiable and segregated from company revenues. They also mentioned that the “commingling” of funds obscured the location of customer funds. In response to the Reuters report , Binance’s Chief Communications Officer, Patrick Hillmann, criticized it as “weak” and full of “conspiracy theories.” He took to Twitter, describing the journalist...

Time and again, Twitter and Tesla CEO Elon Musk has exhibited his inclination toward Dogecoin [DOGE]. The OG meme coin’s credibility got a boost following Musk’s endorsements. But does Musk still think DOGE is a profitable and safe bet? In a recent interview with the Wall Street Journal, Musk commented on the crypto industry and Dogecoin . He said, “I’m not advising anyone to buy crypto or bet the farm on Dogecoin.” It should be emphasized that this isn’t the first time that Musk made such a declaration. During 2022’s gruesome bear market, he affirmed that he had “never said that people should invest in crypto.” He further noted, “In the case of Tesla, SpaceX, and myself, we all did buy some Bitcoin, but it’s a small percentage of our total cash assets.” The above statement was made in light of the $258 billion lawsuit against Musk. The Twitter chief was accused of inflating the price of Dogecoin. More recently, Musk was seen urging a U.S. judge to throw out the l...

The co-founder of MicroStrategy and notorious Bitcoin (BTC) fan Michael Saylor, shared some of his thoughts relating to the crypto space in a recent interview at the Bitcoin 2023 conference which was held between 18-20 May in Miami. One of the focus points from the interview was the lack of regulatory clarity around crypto, which Saylor stated is intentional. According to Saylor, the limited adoption of Bitcoin as a treasury reserve asset among public companies, with only 24 listed companies holding it according to CoinGecko, may not be surprising considering various factors. Saylor pointed out that one significant challenge is the accounting treatment of Bitcoin as an indefinite and intangible asset. He explained that this discourages investment due to the inability to write up its value. In addition to this, the entrepreneur explained that the crypto market’s complexity and confusion, especially with numerous other cryptocurrencies and recent regulatory crackdowns, h...

The introduction of numerous meme coins in recent months has raised doubts about the credibility of established crypto currencies. The Shiba Inu [SHIB] community, in particular, became increasingly war as the price of the asset remained stagnant and significant developments were still awaiting release. Adding to their concerns, Certik, a well-known blockchain security firm, dropped SHIB from its list of top-rated crypto assets, known as the AAA list. In October 2022, Shiba Inu was rated as the second most secure crypto asset by Certik. However, the current ranking of SHIB on the platform has significantly declined, with the asset positioned at the 51st rank. At one point earlier this month, SHIB even dropped as low as the 57th rank. Presently, SHIB holds a security score of 93.67, placing it on the second page of the list under the AA category. This omission from Certik’s list further intensified the skepticism surrounding SHIB’s legitimacy and raised questions about its security a...

Move over Bitcoin, Ordinals on Litecoin and Dogecoin have unleashed a frenzy of transactions. What began with developer Casey Rodarmor creating the Ordinals protocol to “inscribe” text and imagery on the Bitcoin (BTC) network has now made its way to Litecoin (LTC) and Dogecoin (DOGE) sending transaction volume on the two chains surging for the better part of a month.  Recent network activity on Litecoin and Dogecoin networks. Source: BitInfoCharts. On May 18, Dogecoin reached a new transaction volume record, with 1.2 million transactions in a single 24-hour period, according to data from BitInfoCharts. Similarly, on May 10, Litecoin reached its highest ever daily transaction volume with 584,000 transactions. Ordinals first arrived on Litecoin after pseudonymous Twitter user Indigo Nakamoto offered 5 LTC — worth approximately $500 at the time — to anyone who could “port” the Ordinals protocol to the Litecoin network . 5 $LTC to whoever ports this to #Litecoin #Bitcoin #Ordinals https...