🗂 68% of US crypto holders started investing in 2021
About 70% of crypto hodlers in the U.S. started investing in cryptocurrencies like Bitcoin (BTC) in 2021, according to the Crypto Perception Report 2022 by Huobi Group.
The company polled about 3 100 American adults in mid-December 2021 to assess respondents’ knowledge of crypto, what they think about the crypto market rise in 2021 and more.
The survey found 68% of respondents got their first crypto exposure within the last year, while another 21% of those started investing in crypto up to two years ago. 12% of respondents made their first crypto investment within four years, while 9% began investing in crypto more than four years ago.
@DeCenterOrg
About 70% of crypto hodlers in the U.S. started investing in cryptocurrencies like Bitcoin (BTC) in 2021, according to the Crypto Perception Report 2022 by Huobi Group.
The company polled about 3 100 American adults in mid-December 2021 to assess respondents’ knowledge of crypto, what they think about the crypto market rise in 2021 and more.
The survey found 68% of respondents got their first crypto exposure within the last year, while another 21% of those started investing in crypto up to two years ago. 12% of respondents made their first crypto investment within four years, while 9% began investing in crypto more than four years ago.
@DeCenterOrg
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🔥 Walmart to be venturing into the metaverse with plans to create its own cryptocurrency
The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products.
In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.
@DeCenterOrg
The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products.
In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.
@DeCenterOrg
🔐 The Crypto com loss is about $15M with at least 4 600 ETHs and half of them are currently being washed via TornadoCash.
@DeCenterOrg
@DeCenterOrg
🪙 Coinbase announces ‘nearly the entire company will shut down’ for four weeklong breaks in 2022 to allow workers to recharge
Major United States crypto exchange Coinbase will be giving its employees one week off each quarter in 2022 to recharge after “long days and long weeks” of intense work.
In a Monday blog post, Coinbase chief people officer L. J. Brock said “Nearly the entire company will shut down” for four separate weeks this year as part of an experiment in allowing workers to recuperate after completing intense workloads. Brock said the exchange’s employees aren’t necessarily limited to 40-hour work weeks and may have to “pivot at a moment’s notice,” seemingly creating the potential for burnout.
“We realized in 2020 that many employees weren’t taking enough time off to recharge, either because they didn’t want to force their teammates to cover for them or because they didn’t want to fall behind on their work,” said Brock. “We knew this was unsustainable, so we scheduled a recharge week at the end of 2020 and two recharge weeks in 2021, when nearly the entire company would shut down. [...] Subsequent employee surveys made it clear: recharge weeks work.”
Coinbase added: “Four weeks of coordinated recharge time might sound like a lot of time off for a company in hypergrowth, but given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term.”
@DeCenterOrg
Major United States crypto exchange Coinbase will be giving its employees one week off each quarter in 2022 to recharge after “long days and long weeks” of intense work.
In a Monday blog post, Coinbase chief people officer L. J. Brock said “Nearly the entire company will shut down” for four separate weeks this year as part of an experiment in allowing workers to recuperate after completing intense workloads. Brock said the exchange’s employees aren’t necessarily limited to 40-hour work weeks and may have to “pivot at a moment’s notice,” seemingly creating the potential for burnout.
“We realized in 2020 that many employees weren’t taking enough time off to recharge, either because they didn’t want to force their teammates to cover for them or because they didn’t want to fall behind on their work,” said Brock. “We knew this was unsustainable, so we scheduled a recharge week at the end of 2020 and two recharge weeks in 2021, when nearly the entire company would shut down. [...] Subsequent employee surveys made it clear: recharge weeks work.”
Coinbase added: “Four weeks of coordinated recharge time might sound like a lot of time off for a company in hypergrowth, but given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term.”
@DeCenterOrg
💎 Tiny Bitcoin miner defies massive odds to solve a valid block
Despite having a modest hash rate capacity of about 126 TH/s, the lucky miner won the crypto equivalent of the lottery and took home 6.25 BTC worth about $266,000.
A single Bitcoin (BTC) miner from the Solo CK mining pool has defied the odds after successfully adding a new block on the Bitcoin blockchain, taking home 6.25 BTC ($266,000) for their efforts.
The lucky miner, who may have been mining on just one or two machines, solved a block with their modest hash rate capacity of 126 terahashes per second (TH/s). According to a Tuesday tweet from Solo admin Con Kolivas, it’s equivalent to about 0.000072% of the total Bitcoin network hash rate, which is 175,000,000 TH/s.
Bitcoin mining expert and member of the Bitcoin Mining Council Hass McCook told Cointelegraph that he has never heard of anything like it, adding, “To say this is very rare is an understatement.”
“Usually, having 0.000072% of the hash rate means that, on average, Solo CK will win 0.000072% of the blocks, or about 1 in 1,400,000,” he explained.
According to McCook, the miner could’ve been using a single machine. “The Antminer S19 is a 110TH/s machine, so Solo CK could have even been mining with just one overclocked rig. More likely, it was five or six Antminer S9 units. Either way, it could very easily be a home miner,” he said.
A machine’s hash rate refers to how many hashes, or mathematical equations, it can solve per second. On average, a new Bitcoin block is mined every 10 minutes. Kolivas estimated the chances weren’t quite so high, with a one in 10,000 chance of finding a block per day with that hash rate, but added the miner probably wouldn’t repeat the feat.
“For the miner involved, it’s a once-in-a-lifetime chance,” Kolivas wrote.
@DeCenterOrg
Despite having a modest hash rate capacity of about 126 TH/s, the lucky miner won the crypto equivalent of the lottery and took home 6.25 BTC worth about $266,000.
A single Bitcoin (BTC) miner from the Solo CK mining pool has defied the odds after successfully adding a new block on the Bitcoin blockchain, taking home 6.25 BTC ($266,000) for their efforts.
The lucky miner, who may have been mining on just one or two machines, solved a block with their modest hash rate capacity of 126 terahashes per second (TH/s). According to a Tuesday tweet from Solo admin Con Kolivas, it’s equivalent to about 0.000072% of the total Bitcoin network hash rate, which is 175,000,000 TH/s.
Bitcoin mining expert and member of the Bitcoin Mining Council Hass McCook told Cointelegraph that he has never heard of anything like it, adding, “To say this is very rare is an understatement.”
“Usually, having 0.000072% of the hash rate means that, on average, Solo CK will win 0.000072% of the blocks, or about 1 in 1,400,000,” he explained.
According to McCook, the miner could’ve been using a single machine. “The Antminer S19 is a 110TH/s machine, so Solo CK could have even been mining with just one overclocked rig. More likely, it was five or six Antminer S9 units. Either way, it could very easily be a home miner,” he said.
A machine’s hash rate refers to how many hashes, or mathematical equations, it can solve per second. On average, a new Bitcoin block is mined every 10 minutes. Kolivas estimated the chances weren’t quite so high, with a one in 10,000 chance of finding a block per day with that hash rate, but added the miner probably wouldn’t repeat the feat.
“For the miner involved, it’s a once-in-a-lifetime chance,” Kolivas wrote.
@DeCenterOrg
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🐻 Bitcoin stays in tight range as analyst eyes potential 'interesting week' in BTC
Bitcoin (BTC) hovered near $43,000 on Jan. 17 as its "boring" price action combined with signs that the market could be stabilizing.
With few surprises expected thanks to the Wall Street holiday, traders took the opportunity to call for a level-headed approach on focus on altcoins.
Popular analyst William Clemente, meanwhile, highlighted Bitcoin bouncing along an ascending trendline this month, this soon to approach a turning point as part of a wedge construction.
"Should be an interesting week," he forecast.
Beyond spot price, data showed that market composition still employed near all-time high leverage, this only just beginning to reduce in week two of January.
Such leverage prevalence previously sparked concerns that a liquidity cascade could be made all the more real, with a significant move up or down hitting traders.
"The highly increased leverage ratio of Bitcoin that since some days remains at an all-time high is showing concerns that a massive volatility increase will follow up," commentator Vince Prince warned on the day.
@DeCenterOrg
Bitcoin (BTC) hovered near $43,000 on Jan. 17 as its "boring" price action combined with signs that the market could be stabilizing.
With few surprises expected thanks to the Wall Street holiday, traders took the opportunity to call for a level-headed approach on focus on altcoins.
Popular analyst William Clemente, meanwhile, highlighted Bitcoin bouncing along an ascending trendline this month, this soon to approach a turning point as part of a wedge construction.
"Should be an interesting week," he forecast.
Beyond spot price, data showed that market composition still employed near all-time high leverage, this only just beginning to reduce in week two of January.
Such leverage prevalence previously sparked concerns that a liquidity cascade could be made all the more real, with a significant move up or down hitting traders.
"The highly increased leverage ratio of Bitcoin that since some days remains at an all-time high is showing concerns that a massive volatility increase will follow up," commentator Vince Prince warned on the day.
@DeCenterOrg
💼 Crypto job posts on LinkedIn rocketed 395% in 2021
It wasn’t just a bull run for prices last year. Careers in crypto outstripped price action in 2021, as crypto job searches soared by 395% in the United States alone, according to LinkedIn.
Crucially, the crypto industry outpaced the wider tech industry, which also saw remarkable development, almost doubling its number of job listings. However, at 98% growth, the tech industry dwindles in comparison to crypto jobs, which gained by a whopping 395%.
Furthermore, no industry was safe from “crypto-ization” in 2021. The LinkedIn News post offered valuable insight into crypto influencing other industries:
While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors.
For 2022, the growth trend looks set to continue. The biggest exchanges in crypto are brimming with job posts; Coinbase has over 250 openings, Kraken over 300, and the world’s most active exchange, Binance, lists more than 600 job posts.
For Bitcoiners and Bitcoin (BTC) maximalists, there is a new resource — Bitcoiner jobs. A service dedicated to helping connect Bitcoiners with Bitcoin-only companies, it now offers almost 100 Satoshi-approved careers.
For those who are unable to switch jobs into crypto, a wider HR trend is crypto remuneration. The mayors of New York and Miami announced that they would take a portion of their pay in BTC in 2021, while seven NFL players have chosen crypto over cash salaries to date.
Nonetheless, while the crypto career switch appears to be gaining traction, the LinkedIn audience is not convinced. Most comments on the LinkedIn post were from bewildered onlookers wondering why crypto has value, and one aggrieved copywriter remonstrated the industry’s scammy nature.
@DeCenterOrg
It wasn’t just a bull run for prices last year. Careers in crypto outstripped price action in 2021, as crypto job searches soared by 395% in the United States alone, according to LinkedIn.
Crucially, the crypto industry outpaced the wider tech industry, which also saw remarkable development, almost doubling its number of job listings. However, at 98% growth, the tech industry dwindles in comparison to crypto jobs, which gained by a whopping 395%.
Furthermore, no industry was safe from “crypto-ization” in 2021. The LinkedIn News post offered valuable insight into crypto influencing other industries:
While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors.
For 2022, the growth trend looks set to continue. The biggest exchanges in crypto are brimming with job posts; Coinbase has over 250 openings, Kraken over 300, and the world’s most active exchange, Binance, lists more than 600 job posts.
For Bitcoiners and Bitcoin (BTC) maximalists, there is a new resource — Bitcoiner jobs. A service dedicated to helping connect Bitcoiners with Bitcoin-only companies, it now offers almost 100 Satoshi-approved careers.
For those who are unable to switch jobs into crypto, a wider HR trend is crypto remuneration. The mayors of New York and Miami announced that they would take a portion of their pay in BTC in 2021, while seven NFL players have chosen crypto over cash salaries to date.
Nonetheless, while the crypto career switch appears to be gaining traction, the LinkedIn audience is not convinced. Most comments on the LinkedIn post were from bewildered onlookers wondering why crypto has value, and one aggrieved copywriter remonstrated the industry’s scammy nature.
@DeCenterOrg
iOS Twitter Blue subscribers can now set NFT as a profile picture.
https://twitter.com/twitterblue/status/1484226540984356864
https://twitter.com/twitterblue/status/1484226540984356864
💸 BTC ‘likely’ to repeat Q4 2020 move — 5 things to watch in Bitcoin this week
Bitcoin (BTC) starts a new week facing multiple hurdles but with strong internal support — can old resistance below $50,000 finally fall?
A correction event now almost in its third month is frustrating many, but conditions may soon be right for a fresh charge against opportunistic bears, an increasing number of analysts are saying.
With inflation running hot and United States lawmakers set to make the Bitcoin mining debate public this week, there are plenty of potential pitfalls in store.
Nonetheless, it’s beginning to feel like Bitcoin is at the point where it is capable of producing a classic surprise when the majority of the mainstream economy least expects it.
Cointelegraph takes a look at five factors worth paying attention to when charting BTC price action over the coming week.
Bitcoin retains key weekly close level
Bitcoin looks decidedly uninterested in tackling even local resistance levels as the week begins.
After a rangebound weekend with little unique price action, BTC/USD is putting in lower lows on short timeframes while avoiding key zones around $44,000.
With Wall Street closed for a holiday, Monday could shape up to offer more of the same before markets provide direction.
Bitcoin did, however, manage to close out the week at exactly the crucial point identified by trader and analyst Rekt Capital as useful for aiding bullish momentum.
“A Weekly Close above ~$43100 (black) would be a good sign of confirmation for BTC to continue higher from here,” he wrote Sunday alongside an accompanying price chart.
@DeCenterOrg
Bitcoin (BTC) starts a new week facing multiple hurdles but with strong internal support — can old resistance below $50,000 finally fall?
A correction event now almost in its third month is frustrating many, but conditions may soon be right for a fresh charge against opportunistic bears, an increasing number of analysts are saying.
With inflation running hot and United States lawmakers set to make the Bitcoin mining debate public this week, there are plenty of potential pitfalls in store.
Nonetheless, it’s beginning to feel like Bitcoin is at the point where it is capable of producing a classic surprise when the majority of the mainstream economy least expects it.
Cointelegraph takes a look at five factors worth paying attention to when charting BTC price action over the coming week.
Bitcoin retains key weekly close level
Bitcoin looks decidedly uninterested in tackling even local resistance levels as the week begins.
After a rangebound weekend with little unique price action, BTC/USD is putting in lower lows on short timeframes while avoiding key zones around $44,000.
With Wall Street closed for a holiday, Monday could shape up to offer more of the same before markets provide direction.
Bitcoin did, however, manage to close out the week at exactly the crucial point identified by trader and analyst Rekt Capital as useful for aiding bullish momentum.
“A Weekly Close above ~$43100 (black) would be a good sign of confirmation for BTC to continue higher from here,” he wrote Sunday alongside an accompanying price chart.
@DeCenterOrg
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🌎 Twitter Launches NFT Profile Pic Verification for Some iPhone Users
Twitter announced on Thursday that certain users will be able to import NFTs from their crypto wallets and post them as their profile pictures on the popular social media service.
For now, the service is only available to those who sign up for the "Labs" feature via the company's Twitter Blue subnoscription service. Twitter is also limiting the release to iOS users but says Android and web users will be able to see when a user changes their profile pics to an NFT.
An NFT is a type of token that essentially acts like a blockchain-based deed of ownership that can be linked to both physical and digital items, such as the profile picture avatars which have become popular on the social media platform among the tech crowd and even pro athletes and other celebrities.
"Once authenticated, the NFT will be displayed as a soft hexagon across all surfaces where your avatar is visible. When people tap on it, they can learn more about the art, its collection, provenance and more," said Twitter in release describing the new feature, which makes use of leading NFT marketplace OpenSea's API.
According to a Twitter spokesperson, the company is limiting the release to Blue subscribers for now in part to obtain feedback about the NFT feature and add updates as needed.
Another Twitter Blue video shows that users can connect their NFTs via various wallets, including MetaMask, Rainbow, and Coinbase. The company's Blue service, which costs $2.99/month in the U.S., offers a set of other features that Twitter bills as premium.
@DeCenterOrg
Twitter announced on Thursday that certain users will be able to import NFTs from their crypto wallets and post them as their profile pictures on the popular social media service.
For now, the service is only available to those who sign up for the "Labs" feature via the company's Twitter Blue subnoscription service. Twitter is also limiting the release to iOS users but says Android and web users will be able to see when a user changes their profile pics to an NFT.
An NFT is a type of token that essentially acts like a blockchain-based deed of ownership that can be linked to both physical and digital items, such as the profile picture avatars which have become popular on the social media platform among the tech crowd and even pro athletes and other celebrities.
"Once authenticated, the NFT will be displayed as a soft hexagon across all surfaces where your avatar is visible. When people tap on it, they can learn more about the art, its collection, provenance and more," said Twitter in release describing the new feature, which makes use of leading NFT marketplace OpenSea's API.
According to a Twitter spokesperson, the company is limiting the release to Blue subscribers for now in part to obtain feedback about the NFT feature and add updates as needed.
Another Twitter Blue video shows that users can connect their NFTs via various wallets, including MetaMask, Rainbow, and Coinbase. The company's Blue service, which costs $2.99/month in the U.S., offers a set of other features that Twitter bills as premium.
@DeCenterOrg
🇸🇻 The president of El Salvador, Nayib Bukele, tweeted that his country bought 410 BTC for $15 million. Having paid about $36,585 per coin, Bukele wrote, «Some guys are selling really cheap.»
The Salvadoran government has bought a total of 1 801 Bitcoins since the cryptocurrency was made legal tender in the country.
@DeCenterOrg
The Salvadoran government has bought a total of 1 801 Bitcoins since the cryptocurrency was made legal tender in the country.
@DeCenterOrg
📈 The Bitcoin (BTC) network has recorded a new all-time high mining difficulty of 26.643 trillion with an average hash rate of 190.71 exahash per second (EH/s) — signaling strong community support despite an ongoing bear market.
The Bitcoin network difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC. As evidenced by the blockchain.com data, the network difficulty saw a downfall between May and July 2021 due to various reasons including a blanket ban on crypto mining from China.
However, as the displaced miners resumed operations from other countries, the network difficulty saw a drastic recovery since August 2021. As a result, on Jan. 22, the BTC network recorded an ATH of 26.643 trillion.
@DeCenterOrg
The Bitcoin network difficulty is determined by the overall computational power, which co-relates to the difficulty in confirming transactions and mining BTC. As evidenced by the blockchain.com data, the network difficulty saw a downfall between May and July 2021 due to various reasons including a blanket ban on crypto mining from China.
However, as the displaced miners resumed operations from other countries, the network difficulty saw a drastic recovery since August 2021. As a result, on Jan. 22, the BTC network recorded an ATH of 26.643 trillion.
@DeCenterOrg
Mineplex.io is the most promising platform of 2022
While the market is full of hype around NFT, there are also projects in the crypto world that continue to work on fundamental things for the blockchain, and their tokens continue to grow steadily. We would like to draw your attention to one of these projects, which deals with the most important integration of blockchain with the world of banking - the Mineplex.io platform.
Mineplex launched their own blockchain with two native tokens, staking with a yield of 20% per month in PLEX tokens, a large marketplace with payment for cryptocurrency and unique financial instrument for commodity staking. Conducted the first transactions on the MinePlex cryptocard in PLEX tokens, bypassing fiat. This will become a trend in the next 5 years and will finally solve the problem with the daily use of cryptocurrency in real life.
For more convenient work the Mineplex mobile app is available for download on Google Play for Android and in the AppStore for IOS.
Recommend to get acquainted with Mineplex at the following links:
Telegram group: https://news.1rj.ru/str/mineplex_en
Twitter: https://twitter.com/mineplexio
Website: https://mineplex.io/
While the market is full of hype around NFT, there are also projects in the crypto world that continue to work on fundamental things for the blockchain, and their tokens continue to grow steadily. We would like to draw your attention to one of these projects, which deals with the most important integration of blockchain with the world of banking - the Mineplex.io platform.
Mineplex launched their own blockchain with two native tokens, staking with a yield of 20% per month in PLEX tokens, a large marketplace with payment for cryptocurrency and unique financial instrument for commodity staking. Conducted the first transactions on the MinePlex cryptocard in PLEX tokens, bypassing fiat. This will become a trend in the next 5 years and will finally solve the problem with the daily use of cryptocurrency in real life.
For more convenient work the Mineplex mobile app is available for download on Google Play for Android and in the AppStore for IOS.
Recommend to get acquainted with Mineplex at the following links:
Telegram group: https://news.1rj.ru/str/mineplex_en
Twitter: https://twitter.com/mineplexio
Website: https://mineplex.io/
Telegram
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MinePlex Banking is an innovative mobile cryptobank of a new generation with its own liquid token. This is a single application where you can pay any bills and goods using cryptocurrency, make transfers and earn money by keeping tokens.
🔥 North Korean Nuclear Weapons Program Financed in Crypto: Report
A United Nations report has found that nuclear and ballistic missile programs in North Korea rely on financing from crypto.
North Korea’s nuclear and ballistic missile programs rely heavily on revenue from cyberattacks and cryptocurrency exchanges.
“According to a member state, DPRK cyber actors stole more than $50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia,” the report said.
While the illicit crypto industry is going strong in North Korea, other, more common sources of illegal revenue—like illicit luxury goods moving across the border—have been stymied by the COVID-19 pandemic.
“Direct delivery by non-DPRK tankers to DPRK has ceased, probably in response to COVID-19 measures,” the report said.
North Korean crypto lifeline
This is not the first time the isolated and heavily sanctioned North Korean state has pivoted to cryptocurrencies for income.
Last month, Chainalysis data—which was also cited in the UN’s most recent report—found North Korea to have launched at least seven cyber attacks against cryptocurrency exchanges.
This activity generated almost $400 million worth of cryptocurrencies for the Hermit Kingdom.
This represented a significant increase from the previous year’s activity, which saw just four North Korea-affiliated cyber attacks against crypto platforms.
Chainalysis also found that once North Korea gained access to the targeted funds, the regime “began a careful laundering process to cover up and cash out.”
One of North Korea’s chief actors in the hunt for cryptocurrencies is Lazarus Group, a group of cybercriminals backed by the DPRK’s chief intelligence agency, the Reconnaissance General Bureau.
Lazarus Group propelled itself into mainstream consciousness following North Korea’s infamous WannaCry and Sony Pictures cyberattacks, but since 2018, the group has stolen and laundered “massive sums of virtual currencies every year, typically in excess of $200 million,” according to Chainalysis.
In 2020, a report found that North Korea was also pivoting to Monero, a cryptocurrency designed to be totally anonymous.
A United Nations report has found that nuclear and ballistic missile programs in North Korea rely on financing from crypto.
North Korea’s nuclear and ballistic missile programs rely heavily on revenue from cyberattacks and cryptocurrency exchanges.
“According to a member state, DPRK cyber actors stole more than $50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe and Asia,” the report said.
While the illicit crypto industry is going strong in North Korea, other, more common sources of illegal revenue—like illicit luxury goods moving across the border—have been stymied by the COVID-19 pandemic.
“Direct delivery by non-DPRK tankers to DPRK has ceased, probably in response to COVID-19 measures,” the report said.
North Korean crypto lifeline
This is not the first time the isolated and heavily sanctioned North Korean state has pivoted to cryptocurrencies for income.
Last month, Chainalysis data—which was also cited in the UN’s most recent report—found North Korea to have launched at least seven cyber attacks against cryptocurrency exchanges.
This activity generated almost $400 million worth of cryptocurrencies for the Hermit Kingdom.
This represented a significant increase from the previous year’s activity, which saw just four North Korea-affiliated cyber attacks against crypto platforms.
Chainalysis also found that once North Korea gained access to the targeted funds, the regime “began a careful laundering process to cover up and cash out.”
One of North Korea’s chief actors in the hunt for cryptocurrencies is Lazarus Group, a group of cybercriminals backed by the DPRK’s chief intelligence agency, the Reconnaissance General Bureau.
Lazarus Group propelled itself into mainstream consciousness following North Korea’s infamous WannaCry and Sony Pictures cyberattacks, but since 2018, the group has stolen and laundered “massive sums of virtual currencies every year, typically in excess of $200 million,” according to Chainalysis.
In 2020, a report found that North Korea was also pivoting to Monero, a cryptocurrency designed to be totally anonymous.
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🐻 Russian government and central bank agree to treat Bitcoin as currency
The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement.
Russia’s government and central bank are now working on a draft law that will define crypto as an “analogue of currencies” rather than digital financial assets set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries.
Kommersant noted that Bitcoin (BTC) transactions and possession of cryptocurrency in the Russian Federation are not prohibited; however, they must be done through a “digital currency exchange organizer” (a bank) or a peer-to-peer exchange licensed in the country.
The report also highlights that cryptocurrency transactions of more than 600,000 rubles (roughly $8,000) would have to be declared; otherwise, it could be considered a criminal act. Those who illegally accept cryptocurrencies as payment will incur fines.
This news comes after months of speculation about how the Russian government will handle digital currencies. While it is still unclear what this decision will mean for businesses and citizens in Russia, it seems that the country is slowly warming up to the idea of cryptocurrencies.
Related: Russian central bank registers nation’s first digital asset manager
In January, the Bank of Russia called for a nationwide crypto ban in a report that warned about the speculative nature of the industry. The bank also stated that financial firms should not facilitate crypto transactions as part of that proposal to ban digital assets.
However, the proposal generated opposition from the Russian Ministry of Finance. A few days after the central bank’s call for a ban, Ivan Chebeskov, a ministry official, said that the government should regulate crypto rather than prohibiting it entirely. He warned that a total ban might result in Russia falling behind in technology.
Reports have also emerged that President Vladimir Putin supports efforts to regulate the country’s crypto mining sector.
@DeCenterOrg
The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement.
Russia’s government and central bank are now working on a draft law that will define crypto as an “analogue of currencies” rather than digital financial assets set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries.
Kommersant noted that Bitcoin (BTC) transactions and possession of cryptocurrency in the Russian Federation are not prohibited; however, they must be done through a “digital currency exchange organizer” (a bank) or a peer-to-peer exchange licensed in the country.
The report also highlights that cryptocurrency transactions of more than 600,000 rubles (roughly $8,000) would have to be declared; otherwise, it could be considered a criminal act. Those who illegally accept cryptocurrencies as payment will incur fines.
This news comes after months of speculation about how the Russian government will handle digital currencies. While it is still unclear what this decision will mean for businesses and citizens in Russia, it seems that the country is slowly warming up to the idea of cryptocurrencies.
Related: Russian central bank registers nation’s first digital asset manager
In January, the Bank of Russia called for a nationwide crypto ban in a report that warned about the speculative nature of the industry. The bank also stated that financial firms should not facilitate crypto transactions as part of that proposal to ban digital assets.
However, the proposal generated opposition from the Russian Ministry of Finance. A few days after the central bank’s call for a ban, Ivan Chebeskov, a ministry official, said that the government should regulate crypto rather than prohibiting it entirely. He warned that a total ban might result in Russia falling behind in technology.
Reports have also emerged that President Vladimir Putin supports efforts to regulate the country’s crypto mining sector.
@DeCenterOrg
🍏 Upcoming Apple iPhone feature to give merchants a way to accept crypto payments
Apple announced plans to launch Tap to Pay for its iPhone, a new feature that effectively turns the smartphone into a point-of-sale device for businesses and merchants. So, what’s in it for crypto?
The announcement explains that with Tap to Pay, iPhone-owning merchants receive contactless payments by using their mobile devices as a point-of-sale machine thanks to the near-field communication technology, or NFC.
According to Apple, the soon-to-be-launched Tap to Pay feature will extend support to “Apple Pay, contactless credit and debit cards and other digital wallets.” It basically means that unless Apple places a direct barrier for it, customers who are using Coinbase Card, Crypto.com Visa Card or a similar payments card would be able to use their cryptocurrency holdings to make payments via Tap to Pay.
While Apple has announced Stripe, an Irish-American fintech, as the first platform to offer the Tap to Pay feature on the iPhone, the company clarified that “additional payment platforms and apps will follow later this year.”
Back in August 2021, major crypto exchange Coinbase integrated with Apple Pay and Google Pay, allowing users to purchase crypto assets on its platform. As Cointelegraph reported, the move allowed United States-based customers to purchase crypto using bank-issued debit and credit cards via mainstream payments platform Apple Pay.
In June 2021, Coinbase launched Coinbase Card, enabling users to spend cryptocurrencies across mainstream avenues: “Coinbase will automatically convert all cryptocurrency to US Dollars and transfer the funds to your Coinbase Card (less conversion fees) for use in purchases and ATM withdrawals.”
Considering Coinbase’s capability to convert a user’s crypto holdings to fiat in real-time for payments, Apple Pay users will be able to use iPhone’s Tap to Pay feature to make crypto payments across mainstream merchants and businesses.
While Apple Pay will most likely not allow direct purchase of goods and services via Bitcoin (BTC), it will convert the user’s crypto holdings to match the dollar amount requested by the merchant’s point-of-sale machine to make the purchase.
Let’s also not forget that in November 2021, Apple CEO Tim Cook revealed the personal purchase of cryptocurrencies as “part of a diversified portfolio” while highlighting no immediate plans to accept crypto as a means of payment for Apple products.
@DeCenterOrg
Apple announced plans to launch Tap to Pay for its iPhone, a new feature that effectively turns the smartphone into a point-of-sale device for businesses and merchants. So, what’s in it for crypto?
The announcement explains that with Tap to Pay, iPhone-owning merchants receive contactless payments by using their mobile devices as a point-of-sale machine thanks to the near-field communication technology, or NFC.
According to Apple, the soon-to-be-launched Tap to Pay feature will extend support to “Apple Pay, contactless credit and debit cards and other digital wallets.” It basically means that unless Apple places a direct barrier for it, customers who are using Coinbase Card, Crypto.com Visa Card or a similar payments card would be able to use their cryptocurrency holdings to make payments via Tap to Pay.
While Apple has announced Stripe, an Irish-American fintech, as the first platform to offer the Tap to Pay feature on the iPhone, the company clarified that “additional payment platforms and apps will follow later this year.”
Back in August 2021, major crypto exchange Coinbase integrated with Apple Pay and Google Pay, allowing users to purchase crypto assets on its platform. As Cointelegraph reported, the move allowed United States-based customers to purchase crypto using bank-issued debit and credit cards via mainstream payments platform Apple Pay.
In June 2021, Coinbase launched Coinbase Card, enabling users to spend cryptocurrencies across mainstream avenues: “Coinbase will automatically convert all cryptocurrency to US Dollars and transfer the funds to your Coinbase Card (less conversion fees) for use in purchases and ATM withdrawals.”
Considering Coinbase’s capability to convert a user’s crypto holdings to fiat in real-time for payments, Apple Pay users will be able to use iPhone’s Tap to Pay feature to make crypto payments across mainstream merchants and businesses.
While Apple Pay will most likely not allow direct purchase of goods and services via Bitcoin (BTC), it will convert the user’s crypto holdings to match the dollar amount requested by the merchant’s point-of-sale machine to make the purchase.
Let’s also not forget that in November 2021, Apple CEO Tim Cook revealed the personal purchase of cryptocurrencies as “part of a diversified portfolio” while highlighting no immediate plans to accept crypto as a means of payment for Apple products.
@DeCenterOrg