Author: NBTC
The South African Financial Intelligence Centre recently issued a draft directive calling crypto-asset service providers to implement the Financial Action Task Force’s (FATF) travel rule. However, key figures in South Africa’s crypto industry say several factors could hinder the implementation of the FATF’s Recommendation 16. CASP Interactions With Unhosted Wallets The South African Financial Intelligence Centre (FIC) recently issued a draft directive on implementing the Financial Action Task Force’s (FATF) travel rule by accountable crypto asset service providers (CASPs). While the draft directive has proposed to ratify FATF’s Recommendation 16, some crypto entities, such as Valr, believe several factors will…
Mining pool ViaBTC won the race to mine the first satoshi after last week’s halving, which it has now sold at auction for $2.13 million. The Ordinals protocol allowed individual satoshis to be identified and traded, attaching value to particularly notable sats for the first time. ViaBTC, the mining pool that mined the first block after the Bitcoin halving on April 20, sold the “epic” satoshi it contained for 33.3 BTC ($2.13 million). An auction for the satoshi, or “sat,” which has a face value of around $0.0006, ended at 16:00 UTC on crypto exchange CoinEx following a flurry of…
An address connected to Justin Sun has moved 120,000 EETH worth $376 million to Swell L2. Reportedly, the transferred EETH accounts for 46.6% of the total deposits of Swell L2. The same address, holding 48,374.301353998937694271 ETH, previously moved 120,000 ETH to EtherFi. TRON Founder Justin Sun has recently created headlines in connection to a massive $300+ million worth of Ether (ETH). According to an X post by Colin Wu, a Chinese crypto journalist, an address related to Sun deposited 120,000 EETH, worth $376 million, into Swell L2. Justin Sun’s team address 0x7a9…3095 deposited 120,000 EETH (the deposit certificate after ETH…
Filecoin recently introduced the Fluence Project. It has marked a pivotal moment, for it brings together artificial intelligence and decentralized computing mechanisms. The community is now looking forward to leveraging its best since it is a better alternative to centralized services. The Fluence Project, which builds a custom L2 on the network, enters the market to enhance cloudless computing. Fluence operates by aggregating CPU resources from globally dispersed, top-tier data centers. This enables businesses to obtain the same services without utilizing the cloud, or rather, grants them the permission or opportunity to do so. This allows individuals to circumvent two…
A top South Korean prosecution official says courts must deliver swifter justice to crypto offenders – with cases currently taking “too long” to process. The comments came from Lee Jeong-ryeol, the head of the Seoul Southern District Prosecutors’ Office’s joint crypto investigation unit, in an interview with the newspaper Hanguk Kyungjae. The unit is the nation’s only investigative organization dedicated to crypto-related crimes. Swifter Justice Will Help Fight Crypto Crime – Prosecutor Lee claimed that “regulation rollouts” and the “punishment” of crypto-related crimes “have been slow.” He said: “We must restore trust in the virtual assets market, which has turned…
Uniswap has been continuing to improve its services for the users. In a recent move, it announced the launch of candlestick charts that will help users with their financial decisions. The candlestick chart feature has gone live on the network and interested users can utilize it. Candlestick Charts A Candlestick chart is an important function that can help financial decisions based on the performance of an asset. In crypto or other assets, it is the visual representation of the trading activity. Thus, an investor can make informed decisions in a few minutes without consulting a range of resources. These charts…
Quick Take As Bitcoin’s price hovers around $63,000, slightly down over the past 24 hours, the options market is providing insights into shifting investor sentiment ahead of the expiration on April 26. A key development has been the reduction in positive gamma exposure as Bitcoin declined through the heavily traded $65,000 call strike. According to Imran Lakha, a 20-year professional options trader notes: Short gamma reduced on the way down as we went through the big long strike at 65k suggesting volume has been smashed lower, calls are getting dumped The options open interest data provided by Deribit reveals a…
A whale, a major player in the world of cryptocurrencies that makes large transactions and has a significant impact on the market, has re-entered trading in Ethereum. Although he has made a long on the asset before and has sustained losses of about $ 4.63 million, the whale is still optimistic about the future. This whale, who previously lost $4.63M by going long $ETH, is going long $ETH again.He has withdrawn 6,965 $ETH($21.9M) from #Binance and deposited it to #Compound in the past hour, then borrowed 14.5M $USDT.https://t.co/HvLu7N4DnM pic.twitter.com/dwWYCW3rq7 — Lookonchain (@lookonchain) May 5, 2024 Whale Borrows $14.5M USDT in…
Giovanni Vicioso, head of crypto at CME Group, recently spoke about the impact of Bitcoin ETFs on the crypto industry. According to Vicioso, these ETFs have not only legitimized the industry in the eyes of Wall Street, but have also forced major distribution networks and marketing firms to promote Bitcoin to their customers. Vicioso explained that the role of investment advisors has evolved into educating their client base on the importance of Bitcoin. They now have a familiar product, Bitcoin ETFs, to facilitate this process. Previously, conversations with customers about Bitcoin revolved around basic questions such as what Bitcoin is,…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: South African Ponzi scheme mastermind dies of a heart attack in Brazil, the Argentine House advances crypto tax regularization bill, and Buenos Aires targets Worldcoin with a new bill. South African Ponzi Scheme Mastermind Dies of Heart Attack in Brazil Johann Steynberg, a South African bitcoin Ponzi scheme mastermind, reportedly passed away in Brazil after succumbing to a blood clotting condition known as pulmonary thromboembolism. At the time of his reported death, Steynberg, the CEO of the bitcoin…