[ad_1] New evidence has emerged revealing the full extent of a South Korean civil servant’s scheme to embezzle $342,000 (497.16 million Korean won) in public funds for personal crypto investments, including vital flood recovery donations. Last December, the unnamed civil servant—dubbed Person A—was sentenced to five years in prison for embezzling city budget and public organization funds, with the case now under review in the High Court, where the ruling may be extended or overturned. While the official’s embezzlement activities took place over six years, from November 2018 to May 2023, the full scope of the crimes—including the flood donation…
Author: NBTC
[ad_1] Analysts reported that the crypto community is witnessing a decline in the buying pressure for Bitcoin, pushing the firstborn cryptocurrency into negative territory. However, some market observers noted that not all is lost in the recent slide of Bitcoin, saying what seems to be an unfavorable condition offers opportunities for long-term investors. Downward Trend Analysts said that a weakening buying pressure on Bitcoin might be a cue that the crypto is entering a downward trend phase with some observers saying that BTC is already within the negative pressure zone. “Bitcoin’s buying pressure has decreased over the last 60 days,…
[ad_1] Ethereum whales are moving assets to cover DeFi lending positions as ETH volatility increases, with major vaults facing liquidation threats. One whale reduced liquidation risk by depositing over 30,098 ETH, lowering its liquidation price to $1,127 while securing over-collateralization. Short positions accumulated at $2,000 and $2,200 suggest a potential rally, as liquidity shifts toward attacking these positions in derivative markets. Ethereum (ETH) has come under intense selling pressure, dipping below $2,000 and triggering liquidation risks for large holders. Several whales have been forced to move assets to decentralized lending protocols to cover their positions. The recent price drop saw…
[ad_1] USDC, the second-largest stablecoin by market cap, is now available to a limited user base on Japanese financial giant SBI’s VC Trade platform in a beta release. SBI says it will provide users with “access to digital US dollars” and promote “development of the digital economy.” As reported by Cryptopolitan on March 4, Japan’s online financial giant SBI is rolling out support for the popular dollar-pegged stablecoin USDC. As of Wednesday, March 12 (JST) USDC is now live on the company’s SBI VC Trade platform in a limited, beta release. The platform’s CEO Tomohiko Kondo stated on X (translated):…
[ad_1] Ripple’s XRP is officially recognized as convertible virtual currency by the USA. The XRP price chart is forming a bullish ascending triangle pattern. Analyst expects to see major XRP price surge and a new XRP ATH soon. Ripple’s XRP has been officially recognized as a ‘convertible virtual currency’ by the US Department of Justice Civil Division and FinCEN. This marks the official acknowledgement of XRP as a reputed and trusted virtual currency making the altcoin one of the most highly respected cryptocurrencies in the USA and across the world. Ripple’s XRP Officially Recognized as Convertible Virtual Currency 🚨BREAKING: #XRP…
[ad_1] The long-running legal battle between Ripple and the SEC is entering its final phase, and the crypto community is eager to see how it ends. After years of back-and-forth arguments, multiple court rulings, and shifting regulatory stances, several outcomes are now possible. Can the SEC Just Walk Away? All Things XRP, Crypto Analysts chimed into the outcome possibilities. They suggest that the SEC, under potential new leadership in 2025, might withdraw its appeal, leaving Ripple with a $125 million fine and a permanent injunction on institutional XRP sales. While this would provide some clarity, it would still limit Ripple’s…
[ad_1] Bitcoin rose 2.1% over the past 24 hours after the minutes from the Federal Reserve’s January meeting revealed policymakers discussed potentially pausing or slowing their balance-sheet reduction program amid debt-ceiling concerns. Bitcoin’s price climbed from $94,134 yesterday to $96,180 an hour after the release. “Participants indicated that, provided the economy remained near maximum employment, they would want to see further progress on inflation before making additional adjustments to the target range for the federal funds rate,” the minutes showed. Officials maintained the Fed’s benchmark policy rate between 4.25% and 4.5% at the January meeting. The minutes revealed that “many…
[ad_1] Ethereum price today: $1,940 Cboe BZX Exchange filed a proposed rule change with the SEC to allow staking within Fidelity’s spot Ethereum ETF. Grayscale and 21Shares have also made similar filings with the SEC to stake their Ethereum ETF holdings. ETH could test the $2,850 key resistance if it recovers above $2,200. Ethereum (ETH) is up 3% on Tuesday following Cboe BZX’s filing with the Securities & Exchange Commission (SEC) for Fidelity to permit staking within its spot Ethereum ETF. Fidelity intends to stake its Ethereum ETF Cboe BZX Exchange filed a 19b-4 with the SEC on Tuesday to…
[ad_1] Indian Web3 startups saw significant growth in investment activity in 2024, raising $564 million, a substantial increase from the previous year. India now boasts the fastest-growing developer community and is projected to surpass the U.S. by 2028. Funding Still Below 2022 Peak In 2024, Indian Web3 startups raised $564 million, up from $270 million in the previous year, with investments in the infrastructure sector accounting for a disproportionate share of the total. However, as shown by data in Hashed Emergent’s latest report on India’s Web3 landscape, the funds raised by Web3 startups still fall short of the $1.4 billion…
[ad_1] Market sentiments around the Solana ecosystem have further soured, with FTX set to unlock over 11 million SOL, worth nearly $2 billion, next month. The Solana ecosystem has been under intense pressure recently as the meme coin fiasco in the network escalates. Reports of insider trading and collaborations to defraud investors have been trending, heightening negative bias. For perspective, tongues started wagging after the LIBRA token saga involving Argentina President Javier Milei. To add to the skepticism, the decentralized exchange aggregator Jupiter admitted to the foreknowledge of the token’s launch, confirming a perfectly staged rug pull. While the rumble…