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Latest cryptocurrency news: what happened in the cryptocurrency market while everyone was sleeping – review from September 7

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real-time cryptocurrency news

The most current latest cryptocurrency news: Bitcoin (BTC), according to the resource CoinGecko, began Wednesday With a fall. The cryptocurrency is trading at $18,690 (1 token in rubles is 1,143,758). Bitcoin’s minimum in 24 hours is $18,644 and its maximum is $20,003. The second most capitalized cryptocurrency, Ethereum, also began the day with a drop. Now, the coin is trading at $1,508.

Popular cryptocurrency exchange Coinbase has put forward a proposal to transfer 33% of the $1.6 billion liquidity of the DAI Stablecoin Collateral Exchange Module – Peg Stability Module (PSM) of the decentralized MakerDAO protocol to the trading platform’s custodial account.

According to the authors of the initiative, the scheme will help the project increase revenues by $24 million. To do so, MakerDAO will need to lock USDC stablecoins into Coinbase’s institutional customer rewards program with a return of 1.5% per annum.

If we look at real-time cryptocurrency news, we see how the cryptocurrency market and the blockchain project industry continue to show signs of maturity despite the downturn in the economy. These are the conclusions reached by KPMG analysts in their research.

The maturity of the market, according to the authors of the paper, is also indicated by high activity and positive investor sentiment. In the first quarter of 2022, the volume of investments in crypto- and blockchain projects reached $14.2 billion.

At the same time, KPMG believes that crypto-winter will destroy many startups. Analysts consider the departure of some of its participants from the market as a necessary condition for its recovery after the active growth of 2021.

Ethereum developers have successfully activated a Bellatrix update to the cryptocurrency network. The move was one of the latest in the project team’s preparations to migrate ETH from the extremely energy-consuming PoW to the PoS algorithm as part of The Merge update. The migration is scheduled to take place between September 10 and September 20, 2022. Currently, 74% of nodes are ready to migrate ETH to PoS.

Ahead of the Bellatrix activation, users of popular cryptocurrency exchange Binance encountered a suspension of ETH transactions on some networks.

Earlier we reported that Poolin mining pool wallet stopped withdrawals.

Cryptocurrency

China has uncovered a money laundering scheme involving the digital yuan. How does money laundering work? 

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how does money laundering work

Chinese authorities have uncovered a 200 million yuan (~$28 million) money-laundering scheme where criminals used the digital yuan. Local newspaper Renmin Jibao writes about it. How does money laundering work?

It is reported that the criminals were detained in Fujian province. According to law enforcement authorities, the criminal group, led by Lai Moumou and Zheng Moumou, provided illegal services for the settlement of money to support gambling businesses. It is also noted that the group formed entire cells throughout China and worked on money laundering.

This is the second reported case of the digital yuan appearing in illegal activities. Earlier, the editorial board wrote that the People’s Bank of China decided to amend the digital yuan model after authorities uncovered an eleven-person criminal cell that used the digital state currency to launder money.

According to local media reports, the scammers used phishing to obtain the digital state currency, which they later ran through banks and payment systems. The amount of the fraud was not disclosed. However, it remains unclear whether the incident was the reason for the digital currency changes.

Work on the Central Bank Digital Currency (CBDC) or DCEP, as representatives of the financial regulator themselves call the project, has been underway since 2014. In this case, the head of the Chinese Central Bank Yi Gang, noted that the financial institution has no clear timetable for the launch of the digital yuan. The banker drew attention to the fact that information about the pilot release of the digital asset and related initiatives should not be equated with the official release of the virtual yuan.

We previously reported that the creator of Fortnite has invested in a metaverse company.

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FBI tracked Colonial Pipeline hackers through Chainalysis

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Colonial Pipeline hackers apologize

Recently, Colonial Pipeline has been hacked again. But the Federal Bureau of Investigation (FBI) could identify Colonial Pipeline hackers through analytics firm Chainalysis. It is reported by Bloomberg, citing representatives of the firm.

It is not clear how exactly the FBI could identify the attackers. It is alleged that Chainalysis collects a large amount of data from the blockchain and also relies on off-network information received from customers. The analytics firm uses machine learning and statistical analysis to figure out where and to whom cryptocurrency might be sent.

In May 2021, a group of hackers called DarkSide hacked and shut down the Colonial Pipeline, one of the largest oil pipelines in the United States, causing a fuel shortage on the East Coast. As a ransom, the hackers demanded that 75 BTC be transferred to an anonymous wallet. Colonial Pipeline hackers then apologized.

Earlier in September, analysts at Group-IB found that the number of cryptocurrency-related fraud sites rose to 2,000 in the first half of 2022, a 335% increase over the entire 2021. At the same time, just over 60% of all fraudulent crypto-sites are registered through Russian providers.

Earlier we reported that Cardano Vasil should be fully completed to activate all features.

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Is Kraken a good crypto exchange? Kraken has no plans to change its listing due to SEC complaints

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cryptocurrency exchange kraken ceo

Cryptocurrency exchange Kraken is not going to remove from its listing tokens that the U.S. Securities and Exchange Commission (SEC) compares to securities. Cryptocurrency exchange Kraken CEO Dave Ripley told Reuters.

Is Kraken a good crypto exchange?

Recall, earlier media revealed that the U.S. exchange regulator has organized an investigation into the actions of cryptocurrency exchange Coinbase to list tokens. The reason for launching the investigation was the SEC’s suspicions that Coinbase opened American users’ access to transactions with cryptocurrencies, which can be classified as securities.

However, despite the investigation, the exchange regulator did not sue Coinbase, which has already surprised Ripple, which has long been in litigation with the SEC over the altcoin XRP.

The SEC sued Ripple back in late 2020. The regulator argues that XRP falls under the definition of securities, but the California-based startup disagrees. While the verdict on the lawsuit between the SEC and Ripple probably won’t appear until late 2022, Coinbase was one of the first cryptocurrency exchanges to remove XRP from its listing.

We previously reported on researchers finding vulnerabilities in cryptocurrency exchanges.

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