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Source: Pixel-Shot/Adobe International sanctions are driving crypto adoption in Russia, a crypto expert has stated. And, the analyst claims, they will likely spur some further growth in the sector. The claims were made by Yuri Myshinsky, Chairman of the Board of the Digital Transformation Association, and reported by Podmoskovye Segodnya. Myshinsky noted that “historically,” Russia’s “relationship with cryptocurrencies” was somewhat “contradictory.” Russian lawmakers are attempting to push through a draft law that would legalize crypto mining in the country – and oblige industrial miners to pay taxes on their earnings. Many observers have commented that this will likely lead to a huge rise in Russian crypto mining. Several domestic energy producers are keen to set up data centers to mine crypto using associated gas at oil drilling sites. The Ministry of Finance urgently wants to provide Moscow with a revenue boost by le...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Exciting new crypto intelligence and signals platform Dash 2 Trade is now entering the final days of its D2T token presale. The project, which has now raised almost $11.5 million during its presale, has just a week remaining before the presale closes (January 5, 2023) ahead of its initial exchange offering on January 11, 2023. Investors and traders are hugely excited by the new protocol which will help its users maximize their profit-making potential and trading success by offering a variety of tools, data points, analytics and metrics. Dash 2 Trade has already secured listings on exchanges LBank, Changelly Pro, BitMart and Uniswap, with experts predicting the D2T token to soar during its IEO as one of the best future crypto projects. Visit Dash 2 Trade Presale Now Dash 2 Trade to Help Investors and Traders Dash 2 Trade ha...

Users are still seeking to move their funds away from centralized exchanges, paving the way for blockchain-based alternatives to thrive. Cryptocurrency had its Lehman moment with FTX — or, perhaps, another Lehman moment. The macroeconomic downturn has not spared crypto, and as November rolled around, nobody knew that we were in for the collapse of an empire worth billions of dollars. As the rumors of bankruptcy began to take hold, a bank run was inevitable. Sam “SBF” Bankman-Fried, the once effective altruist now under house arrest, continued to claim that assets were “fine.” Of course, they were not. From Genesis to Gemini, most major crypto organizations have been affected by the contagion effect in the aftermath. The problem with exchanges like Binance, Coinbase and FTX Time and time again, the feeble layer of stability has been broken down by the hammer of macroeconomic stress in an atmosphere of centralization. It can be argued that centralized systems grow quickly for the same...

Over the past few days, crypto networks have been releasing their end-of-year metrics report outlining their milestones, achievements, etc. Blockchain payment company Stellar was the latest one to do so, and they demonstrated impressive numbers. Jed McCaleb is the Co-Founder of Stellar and Ripple , and they are deemed to be rival companies. Ripple was initially launched by McCaleb along with Chris Larsen, but soon after, McCaleb and the rest of the team at Ripple started having major disagreements. Resultantly, McCaleb decided to leave. Scripting another chapter in his crypto books, he, along with Joyce Kim, founded Stellar in 2014. From then to now, the network has come a long way. In fact, despite being hung out to dry this year, the network seemingly fared well. Denelle Dixon, CEO and Executive Director at Stellar , reported the protocol’s year-end numbers on Twitter on Tuesday. Stellar’s Growth Stats The total assets locked on the platform grew by 73% ove...

It is very difficult for a cryptocurrency enthusiast to have never heard about meme coins. The meme coin saga began in 2013 when Dogecoin was invented by Billy Markus. Dogecoin took inspiration from the popular doge internet meme, which has a Shiba Inu on its logo. The meme coin movement started with Dogecoin , and then other coins like Shiba Inu and others followed. But what really triggered the moment of the meme coins was the beloved Shiba Inu dog called Kabosu . Kabosu recently celebrated his 17th birthday on November 2. However, the details from a recent tweet by the owner reveal that Kabosu is in a dangerous health condition. Community showers love for Kabosu The owner of Kabosu recently tweeted and published an Instagram post about the health condition of the Shiba Inu. She tweeted that Kabosu is said to be in a very dangerous condition now. However, she prays that everything will be fine and that she’s getting power from all over the world. Billy Mar...

The hackers created decoy websites impersonating NFT marketplaces, NFT projects and even a DeFi platform. Hackers linked to North Korea’s Lazarus Group are reportedly behind a massive phishing campaign targeting non-fungible token (NFT) investors — utilizing nearly 500 phishing domains to dupe victims. Blockchain Security firm SlowMist released a report on Dec. 24, revealing the tactics that North Korean Advanced Persistent Threat (APT) groups have used to part NFT investors from their NFTs, including decoy websites disguised as a variety of NFT-related platforms and projects. Examples of these fake websites include a site pretending to be a project associated with the World Cup, as well as sites that impersonate well-known NFT marketplaces such as OpenSea, X2Y2 and Rarible. SlowMist said one of the tactics used was having these decoy websites offer “malicious Mints,” which involves deceiving the victims into thinking they are minting a legitimate NFT by connecting their wallet to the...

Tesla CEO and Twitter chief Elon Musk says the Federal Reserve’s recent rate hikes “might go down in history as most damaging ever.” The billionaire has urged the Fed to cut interest rates immediately, emphasizing that the U.S. central bank is “massively amplifying the probability of a severe recession.” Elon Musk on Fed Rate Hikes Tesla, Spacex, and Twitter boss Elon Musk warned Thursday about the damaging impact of the Federal Reserve rapidly raising interest rates. His warning was in reply to a tweet by former investment manager Genevieve Roch-Decter stating that “the Fed has never raised rates faster” than this year. Musk wrote: At the risk of being repetitive, these Fed rate increases might go down in history as most damaging ever. Roch-Decter also included a chart with her tweet showing that the Fed has hiked interest rates further and faster this year than at any other time in modern history. Many people agreed with Musk. “I...

Cardano climbed for a second consecutive session on Dec. 23, as the token surged to its highest point since Monday. Overall, crypto prices were marginally higher as of writing, with the global market cap currently up 0.49%. Xrp, formerly known as ripple, also rose, with prices nearing a key resistance level. Cardano (ADA) Cardano (ADA) was in the green on Friday, as prices surged for a second straight session. ADA/USD raced to a high of $0.2623 in today’s session, which comes less than a day after the token was trading at $0.2482. The move saw the token climb towards a resistance level of $0.2685, and it is currently trading at its highest point since Monday. ADA/USD – Daily Chart As can be seen from the chart, Friday’s gains come as the 14-day relative strength index (RSI) has moved closer to a ceiling of its own at 32.00. The index is currently tracking at 30.18, with the price slipping from earlier highs, and trading at $0.2586 as of writing. In order for...

The province of Buenos Aires in Argentina will begin taxing cryptocurrency mining and possibly staking, in 2023. A new proposal modifies the tax law to introduce cryptocurrency mining as a taxable activity that will levy 4% on the income calculated via these operations. However, it is still unclear if staking will be taxed. Buenos Aires Adds Cryptocurrency Mining as Taxable Activity The province of Buenos Aires in Argentina approved a project to add cryptocurrency mining as a taxable activity for the next year. A document, presented by the governor of the province, Alex Kicillof, establishes that the activity formally described as “Processing and validation services for crypto assets and/or cryptocurrency transactions (crypto asset and/or cryptocurrency mining)” will require a 4% aliquot over income produced in these operations. The taxes would be paid to the government of the province, and would not be related to any other taxes established by the Argentine national gove...

On Dec. 19, the Twitter account Zachxbt revealed he discovered five cold wallets from the now-defunct Quadrigacx crypto exchange move 104 bitcoin. The following day, ‘big four’ accountancy firm EY, Quadrigacx’s bankruptcy court trustee, explained it did not authorize the spending of the funds and that prior reports detailed that the cold wallets were inaccessible to EY. Cold Wallets Associated With Now-Defunct Quadrigacx Wake up After Years of Sitting Idle During the first week of Feb. 2019, the crypto exchange Quadrigacx told customers it was shutting down operations until it solved liquidity issues. Then the Supreme Court of Nova Scotia ordered the business to enter into the Companies’ Creditor Arrangement Act (CCAA), and the court appointed the accountancy firm EY to manage the firm’s remaining assets. Making matters worse, it was discovered that $150 million in customer funds were lost after the death of Quadrigacx’s founder Gerald Cotte...

Join Our Telegram channel to stay up to date on breaking news coverage Gemini co-founder Cameron Winklevoss has said that the global investment bank Houlihan Lokey has structured a plan on behalf of a committee of creditors targeted at resolving the liquidity issues at Genesis and its parent firm, Digital Currency Group (DCG). Earn Update: Today, Houlihan Lokey presented a plan on behalf of the Creditor Committee to resolve the liquidity issues at Genesis and DCG and provide a path for the recovery of assets. — Cameron Winklevoss (@cameron) December 20, 2022 On December 3, reports spread that crypto lender Genesis and DCG allegedly owed $900 million to Gemini clients, based on information from the Financial times as reported by people close to the matter. Winklevoss has also expressed that finding a solution to the liquidity issues would provide a leeway for Gemini clients to recover assets that are owed to them by both Genesis and DCG following the collapse of the gi...

Shiba Inu has come a long way since its inception. From the mere view of being just another meme token, to a team with many projects under its roof, the meme coin has had remarkable growth over the years. The team has also been constantly collaborating with numerous global companies. From travel companies, to food chain restaurants and automotive companies, the list goes on. Meme coins and cryptocurrencies in general have always been criticized for a lack of utility. However, Shiba Inu holders can now pay for an Aston Martin car with their SHIB. This has been made possible with their recent collaboration with BitPay. Gift them something unforgettable. Shop luxury cars with #crypto at Exclusive Auto Group: https://t.co/aT8kOPm02d @EAGDC pic.twitter.com/1r7GLQ3qvI — BitPay (@BitPay) December 20, 2022 Shiba Inu can get you an Aston Martin Aston Martin is one of the oldest luxury sports car and grand tourer manufacturers, having been established in 1913 in London. In ...

Broader cryptocurrency markets are in consolidation mode on Wednesday as traders await the release of the final major batch of US economic data of the year later this week, which includes the important PCE inflation report that is closely watched by the US Federal Reserve. The Fed’s aggressive rate hikes in 2022 to tackle scorching hot US inflation has been cited by analysts as the main cause of the 2022 crypto bear market. Bitcoin was last changing hands in the $16,800s and broadly flat on the day, meaning it is thus holding onto the bulk of Tuesday’s gains that saw it rebound from the $16,400 area. But technicians remain pessimistic about the world’s largest cryptocurrency by market capitalization’s prospects for a further rebound after it found resistance at its 21-Day Moving Average (at $17,050) on Tuesday. Ethereum, meanwhile, is also consolidating under resistance in the $1,210s, while broader cryptocurrency market cap is hovering little...

Join Our Telegram channel to stay up to date on breaking news coverage After FTX’s bankruptcy, the long crypto winter appears to be getting longer, but here are a few projects with high upside potential for early investors in 2023. Many are looking to build diverse and effective portfolios in the crypto currency and blockchain space. Perhaps you’re looking for some great coins that could finally do something good for the future. In this article, we will highlight some tokens that could do really well in 2023. currency to Buy 2023 with Most Potential🚀" width="640" height="360" src="https://www.youtube.com/embed/5Rs5yNFOyjI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen> FightOut FightOut is a new emerging move-2-earn fitness app. The company also operates a network of gyms, but it aims to make living a healthy...