The US Attorney for the Southern District of New York, and the Acting Special Agent in Charge of the New York Field Office of Homeland Security Investigations, criminally charged KuCoin and two of its founders with bank secrecy act and unlicensed money transmission offenses, alleging they helped grow the exchange into one of the largest crypto exchanges globally. Furthermore, the founders affirmatively attempted to conceal the existence of KuCoin’s US customers.

✔️@CryptoTradeTg

The main kinds of cryptocurrencies

Depending on how you look at it, cryptocurrencies can be divided into two to 10 categories.

Today, we’ll go over the three most common cryptocurrency categories:

1. Bitcoin

The world’s first-ever cryptocurrency, Bitcoin (BTC) was created by the pseudonymous entity Satoshi Nakamoto. It’s the most popular crypto in the world and has already become a household name. Its market capitalization is higher than its next closest competitor, Ether (ETH), by 2.5 times.

2. Altcoins

Traditionally, all cryptocurrencies that were created after Bitcoin are called altcoins. Examples of altcoins include Ether (ETH), Litecoin (LTC), BNB (BNB), and Cardano
(ADA). Developers and teams create altcoins to explore their endless possibilities and functions unavailable on the Bitcoin network.


It’s worth noting that Bitcoin’s market capitalization is equal to all other altcoins in the top 20 combined—another aspect showing Bitcoin’s dominance in the crypto market.

3. Stablecoins

These are altcoins created to hold a stable value. Stablecoins are usually backed by a fiat currency (or other cryptocurrencies sometimes) to keep their price at $1. Some of the most popular stablecoins are Tether (USDT), USD Coin (USDC), and Dai (DAI), whose value is always equal to 1 United States dollar.

Stablecoins have become a convenient option for international money transfers, money settlements, and locking in profits among investors and traders.

However, please note that no stablecoin is guaranteed to keep its peg to the U.S. dollar; stablecoins can also crash and lose their value (case in point: TerraUSD). Therefore, stablecoins also carry their own set of risks.

Of course, there are many more cryptocurrency categories — e.g., utility tokens, privacy coins, and governance tokens, to name a few. We’ll discuss these in a future post.

✔️@CryptoTradeTg

📈 BTC: $70596.59
• ETH: $3564.20
• LTC: $96.72
• BCH: $617.70
• BNB: $615.80

Wall Street giant Fidelity now holds 150K 💰 Bitcoin  worth over $10 billion.

It's just getting started 🚀

✔️@CryptoTradeTg

11 years ago, one of today's leading Bloomberg economists, Joe Weisenthal, wrote his position on Bitcoin:

"When bitcoin ceases to exist, it will be great fun to parse the terrible economic arguments that have been made to justify it"

Bitcoin is still here.

✔️@CryptoTradeTg

Exactly 11 years ago, the price of BTC fell 60% in one day from $265 to $185!

At the time it was dubbed "The Great Crash of 2013"

Today BTC is trading at $70,000 and the 60% drop is called a simple correction before the halving.

✔️@CryptoTradeTg

📣BlackRock launches Bitcoin ETF Ads on Bloomberg’s homepage 🚀

The asset management firm has debuted promotional images for its iShares Bitcoin Trust (IBIT) ads on the publication’s website.

Since gaining SEC approval in January, BlackRock’s IBIT has been a tremendous success. Just three months into trading, the ETF holds more than 263,000 BTC in assets under management, valued at more than $18 billion. 📈

#investmens

✔️@CryptoTradeTg

🎒PRCL - listing tomorrow on Backpack

Backpack has announced the listing of the PRCL token. It's hard to say anything about the token drop from backpack yet, so we're waiting for notification from Parcl themselves.

Well, the drawdown is over, now we can grow 📈

✔️@CryptoTradeTg

Wall Street giant Fidelity now holds 150K 💰 Bitcoin  worth over $10 billion.

It's just getting started 🚀

✔️@CryptoTradeTg

Crypto speak: Bitcoin maximalists

Bitcoin maximalists, or “maxis,” are people who believe that Bitcoin (BTC) is the only necessary cryptocurrency.

They view BTC as the truest form of digital currency that follows the original philosophy of Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

Bitcoin maximalists often claim that the decentralization, finite supply, and security of Bitcoin make it the ultimate digital store of value — or, as many call it: “digital gold.”

They usually consider other cryptocurrencies, or “altcoins,” inferior or unnecessary, believing that Bitcoin will eventually lead in all blockchain use cases.

Do you think we need other coins besides Bitcoin?

✔️@CryptoTradeTg

⚡️ Bitwise CEO: Wealth Manager Will Increase Its Bitcoin💰 ETF Holdings.

He describes the adoption of #Bitcoin ETFs by registered investment advisors (RIAs) and multi-family offices as "secret but significant."

He points out that more major financial entities are carefully evaluating the Bitcoin market.

✔️@CryptoTradeTg

Hackers stole about $35 million from Atomic Wallet.

Hackers broke into the Atomic Wallet decentralized wallet and stole cryptocurrency worth about $35 million, according to estimates of the on-chain detective ZachXBT.

According to his information, the largest amount stolen from one address was 7.95 million Tether (USDT).

This hack has caused severe damage to users and the wallet’s reputation — especially considering that it is still unclear exactly how the hack happened.

✔️@CryptoTradeTg

How to earn crypto

Let’s take a look at a common question among crypto enthusiasts: How can I make money with crypto?😄

We have an entire section on our website where we talk in very simple terms (but at the same time in detail) about the most popular methods of earning: ICOs, staking, farming, DeFi, etc.

We’ll also tell you about the basic principles of safety when earning crypto, too😎

Follow this link and start gradually learning how to earn crypto!

✔️@CryptoTradeTg

Crypto speak: Reveal

“Reveal” is the process of discovering an NFT.

Here’s an example: Often, NFT collections are minted, where their individual NFTs all look the same initially but take on a unique form after a predetermined amount of time has elapsed.

Such reveal mechanics are popular in the NFT space and are often used in creative and original ways.

✔️@CryptoTradeTg

Crypto speak: Can devs do something?

“Can devs do something?” is an ironic reaction to a price crash. Presumably, at first, the question arose without ironic overtones — perhaps an inexperienced investor really believed that the developers could somehow influence the coin’s price.

But these days, the question has become a meme.

Example: “Can devs do something about these prices?”

✔️@CryptoTradeTg

Yesterday, outflows from spot Bitcoin-ETFs reached an all-time record of $564 million.

BlackRock recorded an outflow of $36.9 million for the first time since the launch of its BTC-ETF.

✔️@CryptoTradeTg

Crypto speak: Gem

In crypto, a “gem” is a little-known token with a low market capitalization and great potential for price growth.

However, finding a gem is difficult. Not everything that has a small market capitalization is a profitable investment. More often than not, the market cap is small and the token is cheap simply because no one wants it!

But a real crypto gem can shoot up and grow in value by 10x or more.

Everyone wants to find a gem in the ocean of crypto, but few of them succeed)

✔️@CryptoTradeTg

Bitcoin’s mining difficulty has once again reached an all-time high.

As a result of another recalculation, the complexity of mining Bitcoin, known as “difficulty,” has increased by 5.48%. The indicator updated the maximum to 57.12 T.

Still confusing?

Then let’s break down what Bitcoin mining difficulty is.

It’s quite simple: Bitcoin’s code is organized in such a way that increases the difficulty when more new miners join the network.

The higher the complexity, the more computing power miners need to solve the blocks.

Because miners must invest in more powerful hardware, which uses more energy and results in higher electricity bills, the constant rise in mining difficulty eventually makes mining less profitable.

✔️@CryptoTradeTg

Which would you choose: $200 million of criminal money or $20 million of legitimate money?

We’ve got another interesting hacking case study for you. Decentralized platform Mixin Network published a message in which it offered hackers a $20-million reward for the return of stolen funds.

On Saturday, September 23, attackers hacked into the database of decentralized wallet provider Mixin Network and withdrew $200 million.

The situation is already a familiar one: Hackers hack a certain protocol for a large sum, and the creators of the site offer to forego any legal prosecution, statements to the police, etc. for a smaller sum.

Now, the attackers have a choice: keep the $200 million of “dirty” money, which will be difficult to cash out without getting caught by investigators, or make a deal and take $20 million while receiving security guarantees.

Which would you choose? :)

✔️@CryptoTradeTg