Author: Ocrypto

Three suspected Brazilian crypto fraudsters have been detained while trying to flee to Argentina – as police continue to probe the troubled Braiscompany. In March, a number of suspected employees were filmed apparently emptying the firm’s São Paulo premises under cover of night. In May, police officers issued arrest warrants for a number of Braiscompany employees. And executives from the firm appear to have attempted to flee the country as police launched an investigation codenamed Operation Halving. In an official announcement from the Brazilian police, officers explained that they had caught three people in Foz do Iguaçu, on the Brazil-Argentina border. Officers identified two…

ProShares’ BITO Bitcoin ETF saw a weekly inflow of $65 million as institutional investors have seemingly regained their mojo for Bitcoin futures. Bitcoin  BTC $30,483 exchange-traded fund (ETF) fervor is back with a raft of new applications and an increase in capital inflows from institutional investors. On June 26, a surge of inflows to the ProShares Bitcoin Strategy ETF (BITO) — a Bitcoin futures fund — was observed by Bloomberg senior ETF analyst Eric Balchunas. The fund had its largest weekly inflow in a year at $65.3 million with its assets topping $1 billion. BITO was the first BTC-linked ETF…

Ripple price is facing resistance near the $0.520 level against the US dollar. The price is now trading above $0.52 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support near $0.4910 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down below the $0.4720 support zone. Ripple price is struggling below $0.520 against the US Dollar, unlike Bitcoin. XRP price must stay above the $0.472 support to remain in a bullish zone. Ripple Price Analysis After struggling to stay above…

Ethereum price is struggling to clear the $1,920 resistance against the US Dollar. ETH could correct lower if it breaks the $1,865 support zone. Ethereum is currently correcting lower from the $1,920 resistance. The price is trading above $1,865 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a short-term drop if there is a break below the $1,865 support. Ethereum Price Struggles Below $1,920 Ethereum’s price extended its increase above the $1,850 resistance zone. ETH even…

The price of Bored Ape Yacht Club NFTs saw turbulence over the weekend as Jeffrey Huang, also known as Machi Big Brother, initiated a flurry of Bored Ape sales and then followed up with several purchases of NFTs from the collection. In total, Huang sold over 50 Apes over the past couple of days, according to data from NFT marketplace Blur. In one transaction alone on Saturday, Huang cashed in 19 Apes at once for 651 Ethereum on Blur, worth around $1.2 million, as of this writing. The only guarantees in life are death, taxes, and Machi market dumping a million dollars worth…

Cryptocurrency trading is an important part of the virtual asset ecosystem, according to Julia Leung Fung-yee, CEO of the Securities and Futures Commission (SFC) of Hong Kong. In a recent speech, Leung said the city-state recognizes the importance of crypto trading, adding that it welcomes the application of related technologies to financial services, including bond tokenization and investment funds. The CEO also mentioned that Hong Kong’s embrace of Web3 regulation has been crucial to the development of its virtual asset ecosystem following the collapse of the crypto exchange FTX in November 2022. She outlined how the new licensing system for virtual asset providers would…

Creditors of the bankrupt landing firm Celsius have amended their lawsuit to include Wintermute. Plaintiffs in the class-action lawsuit against Celsius Network have now alleged that Wintermute helped the crypto lending firm in wash trading. The new court filing shows Wintermute Trading Ltd as a new defendant in the ongoing class-action lawsuit, Bloomberg reported. Celsius executives allegedly engaged in “improper market making” activities with the help of Wintermute from around March 2021 until June 2022, when the crypto lending firm froze withdrawals. Celsius Executives Allegedly Manipulated CEL Prices The latest amendment in the lawsuit alleges that Celsius CEO Alex Mashinsky and…

It is critical for financial institutions to know who they are trading with when using decentralized finance (DeFi) protocols, asset management giant BlackRock’s head of strategic partnerships, Joseph Chalom, has said. “The first issue is, who am I trading with? […] We go to jail, if we don’t know who we’re trading with,” Chalom told the audience during the State of Crypto Summit hosted by Coinbase and the Financial Times on Thursday in New York. The news was first reported by CoinDesk. Chalom added that issues such as DeFi’s so-called automated market making, often shortened AMM, are just fig leaves that are used…

Experts have explained why Russia is reportedly becoming a crypto mining hotspot, as the nation claims its crypto mining hashrate is second only to that of the USA. Per Finam, Nikita Zuborev, a Senior Analyst at the domestic crypto platform BestChange, said: “There are many advantages [of mining crypto in Russia]. These include relatively low electricity tariffs. Even in Central Russia, prices are competitive relative to the rest of the world. But if we talk about regions with even lower tariffs, such as the Irkutsk and Krasnoyarsk regions, Khakassia, and Dagestan, then the benefits are much higher.” Zuborev added that some regions of the nation had surplus…

The financial regulator in Belgium, the Financial Services and Markets Authority (FSMA) had forced the cryptocurrency exchange Binance to halt its services in the country alleging that the exchange has violated the law by serving Belgian customers from countries outside the European Economic Area (EEA). “The FSMA has noted that Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area. The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such…