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  • News - 5 July 2022, 10:15 pm

    The Financial Conduct Authority is introducing the post of digital assets director as part of a hiring spree that goes along with its new, more assertive strategy. UK regulator the Financial Conduct Authority (FCA) has recruited almost 500 additional staff members this year as part of its new three-year strategy. Among the new hires are six directors, whose appointments were announced July 5. Two of them come from backgrounds in policing.Director of payments and digital assets is newly created position that will oversee the e-money, payment and crypto-asset markets and related policy development. Matthew Long was appointed to that post, moving over from the National Crime Agency, where he is now a director in the National Economic Crime Command. Long has also led the UK Financial Intelligence Unit. He began his career as a detective in the Kent Police and holds a PhD in risk management. Long will start in his new role in October.In September, Karen Baxter will support FCA enforcement and market oversight activities when she joins the FCA as director of strategy, policy, international and intelligence. She was a commander and national coordinator for economic crime in the City of London Police. She is also is an Office of Communications board member for Northern Ireland.Two interim directors will receive permanent appointments, and new directors of consumer finance and wholesale buy-side have also been appointed.Related: Former Chancellor says UK is falling behind on crypto opportunityThe agency’s new strategy seeks to be more innovative, assertive and adaptive, and to:…Read More

  • News - 5 July 2022, 9:56 pm

    The sale left the firm with ​​1,959 BTC at the end of the second quarter, a more than 75% drop when compared with its reported 8,058 BTC holdings as of May 31. United States-based cryptocurrency mining firm Core Scientific sold more than 7,000 Bitcoin in June to pay for servers, increase its data capacity, and settle debts.In a Tuesday announcement, Core Scientific said it had sold roughly $167 million worth of Bitcoin (BTC) in June at an average price of $23,000 — 7,202 BTC. The sale left the firm with ​​1,959 BTC — roughly 21% of its holdings — and $132 million in cash as of June 30, a more than 75% drop when compared with its reported 8,058 BTC holdings as of May 31. According to the firm, it used proceeds from the crypto sale to pay for ASIC servers, schedule debt repayments, and invest in additional data center capacity. The company reported it had produced 1,106 BTC in June, with self-mining accounting for 57% of its data center capacity and crypto mining operations as of June 30 — more than 180,000 servers.“Our industry is enduring tremendous stress as capital markets have weakened, interest rates are rising and the economy deals with historic inflation,” said CEO Mike Levitt. “Our company has successfully endured downturns in the past, and we are confident in our ability to navigate the current market turmoil.”JUNE 2022 HIGHLIGHTS: -1,106 #Bitcoin self-mined, -10.3 EH/s self-mined -+180,000 ASIC servers in operation -7.6 EH/s co-location (hosting) -Daily self-mining…Read More

  • News - 5 July 2022, 9:46 pm

    BTC bounces back to reclaim support at $20,400 after hitting a daily low of $19,309 on July 5, as bulls battle bears for control of the market. The cryptocurrency market along with the tech-heavy Nasdaq saw a bit of positive price action on July 5 amid a backdrop of rising recession concerns in the United States. Data from Cointelegraph Markets Pro and TradingView shows that an early morning onslaught by bears managed to drop Bitcoin (BTC) to a daily low of $19,309 before reinforcements arrived to bid the price back above support at $20,400 during the afternoon. BTC/USDT 1-day chart. Source: TradingViewHere’s what several analysts are saying comes next for the top cryptocurrency and what support and resistance levels to keep an eye on moving forward. Looking for a continuation to $23KA bullish take on the recent Bitcoin price action was offered by independent analyst Michael van de Poppe, who posted the following chart as a follow-up to a previous Tweet that suggested Bitcoin needed to crack the resistance zone at $19,700 to continue higher:BTC/USD 15-minute chart. Source: TwitterThe analyst said:“This one did crack the resistance and ran towards the next area of resistance at $20.3K. I’m expecting #Bitcoin to consolidate for a bit here, but breaking the next resistance zone is a trigger for continuation towards $23K and a summer relief rally.”Possible pullback to $15,800A decidedly less optimistic take on the recent price action was provided by crypto analyst and pseudonymous Twitter user il Capo of Crypto, who posted the…Read More

  • Bitcoin News - 5 July 2022, 8:30 pm

    During the past seven days, non-fungible token (NFT) sales have dropped 23.37% and 30-day statistics show NFT sales are down 63.10% from the month prior. While NFT interest has been waning, a recent study indicates that global regions like Singapore and Hong Kong lead the pack in terms of NFT interest. The research further suggests […]Read More

  • Bitcoin News - 5 July 2022, 6:30 pm

    Having served his five-year prison sentence in France, Russian IT and crypto specialist Alexander Vinnik is now facing a return to Greece and possible extradition to the United States. A French cassation court has recently dismissed an appeal filed by his defense against the transfer. US Extradition Continues to Haunt BTC-e’s Alexander Vinnik The alleged […]Read More

  • Bitcoin News - 5 July 2022, 4:30 pm

    The euro has had a sluggish start to the second half of 2022 as the fiat currency slid to a 20-year low against the U.S. dollar. The drop adds to the fear that the global economy is in a recession and analysts believe that the risk of “parity is just a matter of time now.” […]Read More

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