The venture fund led by David Gan is backed by Digital Currency Group, Galaxy Digital, Huobi Ventures, Bybit’s venture arm and others.
Yep. The moment that Blizzard entertainment looks up from the table and realizes that then can make soo much money from NFt markets and blockchain, I’m done for. I will spend every waking moment doing Mephisto Runs and Baal runs. I’ll literally live in the secret Cow level and collect Wirts leg. I’ll chase deckard…
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On Tuesday, the crypto firm FTX Trading Ltd, announced that the Green Bay Packers running back Aaron Jones has joined the company as an FTX Ambassador in a long-term partnership. The collaboration with the NFL player follows the firm’s partnership with seven-time Super Bowl winner Tom Brady and his wife Gisele Bündchen. FTX Inks Long-Term […]
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The commissioner has said the CFTC’s enforcement actions in the crypto space have been “aggressive,” and hinted that decentralized finance platforms were likely illegal under the Commodity Exchange Act.
China continued its crackdown on crypto, leading to massive amounts of bitcoin and Ethereum being moved from exchanges. Immense pressure from Chinese central banks following the latest iteration of the China crypto ban has seen exchanges suspending operations in the region. In light of this, large amounts of crypto are being moved from exchange wallets to presumably safer wallets. The transactions are thought to be going to cold wallet storage. Crypto crackdowns in the country caused a surge in USDT sell-offs against the Yuan as users tried to get rid of their crypto holdings before the ban takes full effect. The latest release by the Peoples Bank of China targets over-the-counter activities like those carried out on Huobi and OKEx exchanges and declared that changing fiat to crypto or crypto-to-crypto was now regarded as an illegal activity in the country. Related Reading | Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off $3.1 Billion in Bitcoin and $2.4 Billion In Ethereum Moved After Huobi announced it was going to retire Mainland China’s active user accounts, the exchange had begun to move funds. The exchange had moved a total of $3.1 billion worth of BTC on Sunday. The activity was flagged by btcparser which had flagged the initial transfer of 72,999 bitcoins being moved from Huobi’s wallets. Subsequent transfers were then made in 2,000 BTC increments. 1,800 bitcoins then went to a single address and the rest got split into small wallets. This strikes as odd but could possibly be the exchange moving the funds in the way they deem the safest. Huobi exchange moves 800K ETH | Source: Whale Alert Related Reading | JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum The Ethereum transfers took a different route. Wallets that had been flagged as belonging to the Huobi Exchange then began to move Ethereum into unknown wallets. By the time the transfers were done, 800K ETH had been transferred. A total of eight Ethereum transactions were made, each carrying 100K in ETH worth over $285 million on each transaction. Adding up to a total of $2.4 billion in ETH moved to unknown wallets. Exchanges Retiring Chinese User Accounts Exchanges, following the release of the latest ban, responded by explaining that they would begin retiring user accounts. The process was meant to happen gradually in order to ensure that users’ funds remained safe. Mainland China user accounts are scheduled to be retired on December 31, 2021, the last day of the year. This gives investors roughly three months to put their crypto affairs in order. But despite this long time frame, the rush to get rid of crypto holdings saw price quotes for USDT drop to as low as 6.12 Yuan per USDT. This is not the first time that China has banned crypto actives in the country. And every time one of these bans was announced, it has had a negative effect on the market and the latest ban has been no different. The announcement saw a crash in prices across the crypto market. Although the market has since recovered. While the effects of the crash linger on. ETH price down following crackdown | Source: ETHUSD on TradingView.com Featured image from DigitalTokens.io, chart from TradingView.com
As someone who made the same mistake in 2017-2018. I'm going to be very honest all the HODLers of these meme coins are going to be very dissapointment when they're worthless a year or 2 from now. If you guys remember in 2017 bullrun there were many hyped tokens, some of them even did 100x…
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