crypto blog
Cardano Foundation’s promotional bug bounty program commences
The updated program to identify vulnerabilities started on Monday and will run for six weeks The lowest bugs spotted will attract a reward of $800 and the critical ones $20,000 Cardano Foundation, the non-profit entity that is mainly responsible for Cardano’s path, last week announced the doubling of rewards for users that identify bugs on the network. The Swiss-based organisation shared an update on Hackerone that hackers who spot potential vulnerabilities will pocket double the bounty offered previously. “Hello hackers, we are excited to let you know that we are running a promotion for the next 6 weeks on all assets, it will run from Monday 14th February 2022 until Friday 25th March 2022 and our payouts for valid reports have DOUBLED,” the Cardano Foundation Team w...
India’s social media giant Chingari debuts an in-app crypto wallet
Chingari, the TikTok rival that launched its native $GARI token last month, is bringing more integrations onboard The giant social media platform has debuted its integrated-token wallet and plans to unveil an NFT marketplace soon India’s short video platform, Chingari, has revealed it is integrating its native $GARI token and an associated Solana wallet into the social media app. The $GARI token had already launched to 500 community members in the beta testnet at the end of last year. This was followed by the token debut on the global stage to international traders last month. Growth through incentivising content Chingari hopes to foster an expanding in-app economy which would open many innovative doors on the social media platform. Users can withdraw or deposit tokens effortlessly v...
Russian Ministry wants to legalize Bitcoin mining in specific areas
While the Russian government continues to work out a regulatory regime for digital assets, a federal ministry has made another proposal regarding the crypto mining industry. Russia’s Ministry of Economic Development has greenlighted the concept of crypto mining regulation in the country, proposing to allow mining operations in areas with “sustainable surplus in electricity generation,” local news agency Izvestia reported Tuesday. As part of the proposal, the ministry suggested introducing lower fees for setting up mining farms and data centers in specific Russian regions as well as offering reduced energy rates for such facilities. The ministry also wants to establish a power use limit for mining by individuals, reportedly proposing to introduce higher energy rates for increased energy spe...
Bitcoin hits $44K after Canada emergency powers accompany 6% BTC price increase
Bitcoin (BTC) opted for fresh upside on Feb. 15 as a trip to near $40,000 saw an abrupt change of direction. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI prints classic bull signal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining swiftly overnight into Tuesday, going on to pass $44,000. A classic relative strength index (RSI) breakout, this time on the lower four-hour timeframe, preceded the move, which put the pair a full 6% higher versus Monday’s lows. #Bitcoin 4 Hour RSI broke out and MACD just had a Bullish Cross: pic.twitter.com/2bRVFeQsfX — Matthew Hyland (@MatthewHyland_) February 14, 2022 “I do think these are the first signs of a trend break,” popular Twitter account Phoenix commented in a fresh post on the day. It ...
Counterfeit NFTs result in marketplace shutdown: Experts weigh in
“Rampant” issues relating to minting counterfeit nonfungible tokens, or NFTs, have forced popular platform Cent to halt some operations. Founded in 2017, Cent kicked off as a “social network and informal platform for creative experimentation.” In 2020, the team also launched an NFT platform called Valuables to mint and auction iconic tweets. Jack Dorsey’s first tweet, “just setting up my twttr,” sold for $2.9 million on the platform in March last year. On February 6th, the platform ceased NFT trading due to “a spectrum of activity” that “shouldn’t be happening.” Cameron Hejazi, co-founder of Cent told Cointelegraph: “People in this space tend to cry ‘caveat emptor’ or ‘buyer beware’ but protecting creators from those who might steal or abuse their work —...
Belarus president signs decree to support free circulation of crypto
Belarusian President Alexander Lukashenko has signed a decree affirming the country’s formal support of free circulation of cryptocurrencies like Bitcoin (BTC). Lukashenko’s press office announced Monday that the president has signed a decree “On the register of virtual wallet addresses and the circulation of cryptocurrency.” The document provides a legal basis for Belarus Hi-Tech Park to establish and manage a register of crypto wallet addresses used in illegal activities. The decree document specifically details the process and standards for seizing cryptocurrency from criminals by the government. The decree intends to protect crypto investors from potential losses and to “prevent unintentional involvement in activities prohibited by law.” The announcement points out that Belarus has tak...
Singapore’s DBS Bank set to offer crypto services to retail customers
Singapore’s megabank DBS plans to expand crypto trading to the retail crowd CEO Piyush Gupta has highlighted that the plan is to expand into online trading and a 24/7 operational model DBS Bank was the first financial body to receive MAS approval last year Singapore’s largest lender DBS Bank has highlighted plans to expand the offering to retail investors by the end of the year. The bank is notable for being among the first financial institutions to host a crypto trading desk for institutional investors. The Bank CEO and Director of the DBS Group, Piyush Gupta, revealed during an earnings call for 2021 Q4 on Monday that it had already kickstarted the process of expanding territory. While he did not directly provide any details, he suggested that the bank had set in motion the p...
LooksRare official explains reason behind the recent cash-out
The LooksRare team on Monday confirmed it had received in excess of $30 million in rewards The report and explanation provided raised split opinions within the LooksRare community The team behind NFT marketplace LooksRare has revealed that it cashed out $30 million in ETH, much to the community’s disapproval. One member of the team elucidated that the earnings the team received have never been secret, providing details to prove so. The team member, Zodd, said that the funds were directed to more than ten team members. He explained that to keep the project afloat, the contributors worked around the clock for more than six months without any remuneration until their first WETH earnings came through. He added that the members collectively incurred up to 7 figure pre-launch costs. “...
Bitcoin may head to $45k – $47k without CME gap filling, crypto analyst suggests
Market analyst Credible Crypto has set forth that CME gap filling isn’t guaranteed The analyst also pointed out that the bottom is likely in for Hedera (HBAR) Popular crypto trader and market analyst Credible Crypto has given his views on the price movements of Bitcoin and Hedera Hashgraph. The analyst shared the forecast tweets on his page accompanied by respective analysis charts. BTC/USD Credible crypto quoted a tweet shared at the end of last week – when he anticipated Bitcoin to continue sideways trading, at the time, as it would “allow for some final pumps on many ALT/BTC pairings before $BTC drains them.” In his recent tweet, Credible Crypto argued that the flagship cryptocurrency could climb towards $47k without the CME gap and swing lows being filled. BTC/USD tra...
RBI deputy governor: banning crypto ‘most advisable choice’
T. Rabi Sankar from the Reserve Bank of India compared cryptocurrency to ponzi schemes and said that banning them, not regulating them, would be the “most advisable choice” for the Indian government. Sankar, the deputy governor for the RBI, told audiences at a keynote address on Feb. 14 that “We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity.” “Cryptocurrencies are not currencies, or financial assets or real assets or even digital assets. Therefore, it cannot be regulated by any financial sector regulator. It is not possible to regulate something that one cannot define.” Sankar feels that regulating crypto would ultimately be condoning its use as a store of value and even a currency in some cases. Merely regulating it could...
Chingari integrates native token to advance Web3 social networking
Indian social networking platform Chingari has announced ambitions to revolutionize the experience of its 100 million-user creator economy through the integration of native digital asset, $GARI, and accompanying cryptocurrency wallet via the Solana blockchain. Translating into the word ‘Spark’ in the languages of Urdu and Hindi — a branding visibly consistent with its flame icon — the Chingari user interface often draws parallels to popular Western entertainment services TikTok, Instagram Reels and YouTube Shorts, for its principal focus on short-timed, infinitely accessible video content. Launched in 2018, the platform has grown exponentially over the past few years, amassing over 35 million monthly active users to become the most popular mobile application in the country on the Google Pl...
Canada invokes ‘Emergencies Act’ targeting crowdfunding and crypto
Canadian Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto. Deputy Prime Minister Chrystia Freeland said in a press conference on Feb. 14 that this latest tactical maneuver against the protesters broadens the scope of Terrorist Financing rules. It targets “crowdfunding platforms and the payment service providers they use.” “These changes cover all forms of transactions including digital assets such as cryptocurrencies.” Together, protesters had amassed over $19 million in funds through the fundraising platforms GoFundMe and GiveSendGo. However, those funds have been blocked from reaching the convoy, leading some to organize a fundraisin...
