Cybercriminal gangs laundered an estimated $8.6 billion worth of cryptocurrency last year, in 2021, a 30% rise from the previous year, according to a Chainalysis report published today. The company said it arrived at the number by tracking transactions linked to cybercriminal activity across different cryptocurrency blockchains. This included tracking Read more…
The International Monetary Fund is pushing El Salvador to ditch bitcoin as legal tender, according to a statement released on Tuesday. IMF directors “stressed that there are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent Read more…
Quantum computers would need to become around one million times larger than they are today in order to break the SHA-256 algorithm that secures bitcoin, which would put the cryptocurrency at risk from hackers. Breaking this impenetrable code is essentially impossible for ordinary computers, but quantum computers, which can exploit Read more…
Indonesia’s Financial Services Authority (OJK) on Tuesday warned that financial firms are not allowed to offer and facilitate sales of crypto assets amid a boom in crypto trading in Southeast Asia’s largest economy. “OJK has strictly prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading,” the regulator Read more…
The cryptocurrency market had around $130 billion wiped off its value over the last 24 hours as major digital coins continued their multi-day sell-off. Bitcoin was last down around 4% at $33,755.57, according to Coin Metrics, while Ether plunged 7% to $2,239.08. Earlier in the morning both fell to their Read more…
The crypto market was in a sea of red on Friday as bitcoin, the world’s largest cryptocurrency by market capitalization, tumbled more than 10% over the past 24 hours. It appears that global investors have entered the year with a reduced appetite for risk, and so the correlations between speculative Read more…
Following through on a plan he announced before he took office, New York City Mayor Eric Adams said Thursday that his first paycheck, which arrives on Friday, will be converted from US dollars into cryptocurrency. The transaction will take place on Coinbase, the largest cryptocurrency exchange in the US, and Read more…