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Crypto Dealer Binance Adds Support for the ZAR
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Australia’s new government finally signals its crypto regulation stance
Three months after being elected into power, the Australian Labor Party (ALP) has finally broken its silence on how it’s planning to approach crypto regulation. Treasurer Jim Chalmers announced a “token mapping” exercise, which was one of the 12 recommendations in a senate inquiry report last year on “Australia as a Technology and Financial Center.” The report was warmly welcomed by the industry which has been anxiously waiting to see if the ALP government would embrace it. Aimed at being conducted before the end of the year, the token mapping exercise is expected to help “identify how crypto assets and related services should be regulated” and inform future regulatory decisions. Cointelegraph understands that Treasury will also undertake work on some of the other recommendations in ...
Ronin hackers transferred stolen funds from ETH to BTC and used sanctioned mixers
The hackers behind the $625 million Ronin bridge attack in March have since transferred most of their funds from Ether (ETH) into Bitcoin (BTC) using renBTC and Bitcoin privacy tools Blender and ChipMixer. The hacker’s activity has been tracked by on-chain investigator ₿liteZero, who works for SlowMist and contributed to the company’s 2022 Mid-Year Blockchain Security report. They outlined the transaction pathway of the stolen funds since the March 23 attack. The majority of the stolen funds were originally converted into ETH and sent to now sanctioned Ethereum crypto mixer Tornado Cash before being bridged over to the Bitcoin network and converted into BTC via the Ren protocol. I’ve been tracking the stolen funds on Ronin Bridge.I’ve noticed that Ronin hackers have trans...
8 sneaky crypto scams on Twitter right now
Cybersecurity analyst Serpent has revealed his picks for the most dastardly crypto and nonfungible token (NFT) scams currently active on Twitter. The analyst, who has 253,400 followers on Twitter, is the founder of artificial intelligence and community-powered crypto threat mitigation system, Sentinel. In a 19-part thread posted on Aug. 21, Serpent outlined how scammers target inexperienced crypto users through the use of copycat websites, URLs, accounts, hacked verified accounts, fake projects, fake airdrops and plenty of malware. One of the more worrisome strategies comes amid a recent spate of crypto phishing scams and protocol hacks. Serpent explains that the Crypto Recovery Scam is used by bad actors to trick those who have recently lost funds to a widespread hack, stating: “Simply pu...
Average Bitcoin transaction fee drops under $1 as network difficulty recovers
The average transaction fees on the Bitcoin (BTC) blockchain fell below $1 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over Ethereum (ETH) blockchain skyrocketed several times during the nonfungible token (NFT) hype, inducing stress on general users. While the Bitcoin ecosystem has also endured its fair share of high transaction fees in the past, timely upgrades — including the Lightning Network and Taproot — guarantee faster and cheaper transactions over time. As of Aug. 22, the average Bitcoin transaction fees fell down to $0.825, a number last seen on June 13, 2020. Averag...
Here’s 5 cryptocurrencies with bullish setups that are on the verge of a breakout
The S&P 500 ended its four-week-long recovery last week after minutes from the Federal Reserve’s July meeting hinted that the central bank’s rate hikes will continue until inflation is under control. Members of the Fed said there was no evidence that inflation pressures appear be easing. Another dampener was the statement by St. Louis Fed president James Bullard who said that he would support a 75 basis point rate hike in September’s Fed policy meeting. This reduced hopes that the era of aggressive rate hikes may be over. Crypto market data daily view. Source: Coin360 Weakening sentiment pulled the S&P 500 lower by 1.29% for the week. Continuing its close correlation with the S&P 500, Bitcoin (BTC) also witnessed a sharp decline on Aug. 19 and is likely to end the week with ste...
Hot deals: A consumer’s guide to the new climate law
“Implementation of all of this, it’s gonna take a bunch of work,” said Sam Calisch, the head of special projects at the environmental group Rewiring America. He added: “Because in the end, the amount of money that goes out the door is totally dependent on uptake.” Among the barriers consumers could face in accessing the benefits are the sometimes sizable personal investments needed to qualify for the federal tax credits and the need for states — including those led by Republican governors — to administer some direct subsidy programs. Then there is the complexity of qualifying for the benefits, some of which need to be sorted out by the Internal Revenue Service, the Environmental Protection Agency, the Department of Energy or other government bodies. Here’s a breakdown of how people can gai...
The Philippines pushes back against foreign exchanges, continuing a protectionist streak
The pressure on crypto is growing swiftly in the Philippines. After a recent series of controversial moves from the state regulators and local think tanks, the country’s central bank published a warning to the citizens, discouraging them from engaging in any operations with unregistered or foreign crypto exchanges. The announcement itself doesn’t sound menacing but taken in the context of accompanying developments, it makes a 112-million nation a restive region for crypto. On Thursday, the Bangko Sentral ng Pilipinas (BSP) published a warning note to the country’s citizens, “strongly urging” them not to deal with virtual asset service providers (VASPs) that are either unregistered or domiciled abroad. The Bank emphasized that any deals with virtual assets are high-risk activities by ...
Huobi explains what went wrong with HUSD after stablecoin is back on track
After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what had caused the short-term liquidity problem and assured users that it had been resolved. On Thursday, HUSD started to fall from its dollar value, trading at $0.92 at the start of the day and falling as low as $0.82 a few hours later. This alarmed community members, who speculated what mig happen if the stablecoin doesn’t recover its dollar peg. HUSD was once one of the safest stablecoins. Now it’s off its peg. If HUSD doesn’t return to $1, it’d be the first fully-reserved centralized stablecoin to fail. pic.twitter.com/9WmROQR6lD — John Paul Koning (@jp_koning) August 18, 2022 In response to the concerns, the crypto exchange platform immediately announced that they had been in co...
Consumers could benefit from new climate law — but it won’t be easy
“Implementation of all of this, it’s gonna take a bunch of work,” said Sam Calisch, the head of special projects at the environmental group Rewiring America. He added: “Because in the end, the amount of money that goes out the door is totally dependent on uptake.” Among the barriers consumers could face in accessing the benefits are the sometimes sizable personal investments needed to qualify for the federal tax credits and the need for states — including those led by Republican governors — to administer some direct subsidy programs. Then there is the complexity of qualifying for the benefits, some of which need to be sorted out by the Internal Revenue Service, the Environmental Protection Agency, the Department of Energy or other government bodies. Here’s a breakdown of how people can gai...
Energy secretary guardedly optimistic about gas prices
“This president has moved in dramatic ways to increase supply,” she said. “By releasing 1 million barrels per day from our reserve, as well as calling on domestic producers, as well as international producers. We will be at record amounts of production next year.” Spiking gas prices had driven inflation in the United States for months, but they have been in decline in recent weeks, with average prices falling back below $4 per gallon. Granholm said she expects prices to continue to drift down, but she noted that there is only so much the United States can do to actually control the situation. “As you know, gasoline comes from oil. Oil is traded on a global market. So we are at the whim, if you will, of what happens globally,” the former Michigan governor said. Granholm also discussed the p...
Fake employees and social attacks: Crypto recruiting is a minefield
Hiring in the crypto world can be difficult. Web3 companies are often disorganized and lack HR departments. Developers sometimes want to remain anonymous — even to their potential employers. Some employees don’t exist at all, while others are secretly juggling three other remote gigs. Then there are those who pretend to be employees but are really just plotting to rug everyone. The job of a hiring manager is no easy one. This goes doubly so for the Web3 world, where expectations both from employers and employees can be drastically different compared to the Web2 corporate world. Magazine spoke to Declan Strain, managing partner of Dubai-based talent consultancy BlockDelta, which helps companies in the Web3 industry connect with workers of all levels. After 20 years as a recruiter, he became...
