Author: Staff Writer

Regulated by the Monetary Authority of Singapore (MAS), Fintonia has launched the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund. The physical fund aims to provide investors with “quick, safe, and cost-efficient” access to Bitcoin while removing the challenge of buying from one of the thousands of exchanges and keeping the Bitcoin secure. Fintonia chairman Adrian Chng explained the fund acquires ‘physical’ Bitcoin, “meaning we will buy the actual Bitcoin rather than a derivative instrument on Bitcoin”. “As an MAS regulated fund manager with strict standards, we can connect with multiple exchanges and different market-makers, enabling us to…

Bitcoin and cryptocurrency prices have fallen sharply as the discount shopping event Black Friday kicks off, dropping along with stock markets around the world that have fallen on fresh fears over a new Covid-19 variant. “Forget Black Friday; today has been renamed Red Friday after the color of share price screens as stocks slump globally on fears over a new Covid strain,” Russ Mould, investment director at AJ Bell, said in emailed comments. The bitcoin price fell to its lowest price since mid-October, down 5% on the last 24 hours and dropping under $55,000 per bitcoin. Meanwhile, Ethereum, the second-largest…

According to reports, Ethereum’s EIP-1559 update has now accumulatively burned more than 1 million ETH tokens, which is worth about $4.3 billion, only three months from when it launched.  Ultrasound.money’s data report implies that Ethereum is burning roughly 6 ETH per minute, with Uniswap V2-based trades as the primary contributor, having burned 100,000 ETH alone. ETH transfers and the OpenSea NFT marketplace come in as the second and third most prominent burners, respectively. As part of last August’s London hard fork, the particular Ethereum Improvement Proposal aimed to render on-chain transaction costs more predictable by imposing a base fee. This base fee represents…

Eight months ago, Toronto-based management consultant Ansel Gravelle stumbled across a video game called Axie Infinity, which promised to pay players cryptocurrency for fighting digital monsters. After paying the $1,000 entry fee and playing for over a month, Gravelle realised he could make more money another way. Alongside a friend, the 24-year-old launched a company in July that offers “scholarships” to finance players who cannot afford Axie’s entry costs, taking up to half of their earnings in exchange for access to the game. “Once you have the capital, you can put out a scholarship in a matter of hours,” said…

Celebrity investor Kevin O’Leary is investing in digital currencies, but he hasn’t done so lightly, telling CNBC that he’d prefer to consult with regulators on this space rather than be a “crypto cowboy.” O’Leary told CNBC’s “Capital Connection” on Tuesday that he preferred to consult with regulators before investing in cryptocurrency, in order to see “what is possible and what isn’t” in terms of their stance on the space. “I have zero interest in investing in litigation against the SEC [U.S. Securities and Exchange Commission], that is a very bad idea,” he said, in a discussion around the U.S. regulator’s…

Shiba Inu (SHIB) has reached an adoption milestone by surpassing the 1 million holders mark — even though the memecoin is trading 50% below its all-time high. News of the milestone and daily price increase has energized the Shiba Inu community since the official Shiba Inu Twitter account tweeted a shoutout late on Nov. 2. Since the project reached this milestone, the price has jumped up 11.4% over the past 24 hours, with SHIB now trading at $0.00004237 according to Coingecko. There are 1,002,021 SHIB holders according to data from Etherscan. https://twitter.com/Shibtoken/status/1463912050665529352?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1463912050665529352%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2F1-million-shiba-inu-users-can-t-be-wrong-can-they Despite the recent price increase, SHIB is still trading well below its…

Popular meme coin Shiba Inu has marked yet another milestone following its immense success this year. The meme coin which was created as a rival for top meme coin Dogecoin has found its way out of the shadow to its greatest rival. Now, Shiba Inu is standing on its own feet while making strides in the meme coin space. The digital asset has garnered what could be described as a cult-like following behind it since it hit a new all-time high back in October. It has scored multiple listings on top exchanges such as Coinbase, Binance, and Kraken. In addition…

Even as the cryptocurrency bitcoin has gained traction within the investment community, bitcoin exchange-traded funds (ETFs) are relatively new. Blockchain ETFs have also made their debut in mainstream markets. In the news and mainstream media reports, the terms bitcoin and blockchain are sometimes used interchangeably. As a result, it’s possible to confuse blockchain ETFs and bitcoin ETFs, although they are different financial instruments. KEY TAKEAWAYS Bitcoin exchange-traded funds (ETFs) are relatively new, while the number of blockchain ETFs continue to grow.In recent years, virtual currencies have been embroiled in multiple regulatory battles and have been scrutinized heavily, particularly for their role in…

Cyberhackers are using compromised cloud accounts to mine cryptocurrency, Google has warned. Details of the mining hack are contained in a report by Google’s cybersecurity action team, which spots hacking threats against its cloud service – a remote storage system where Google stores customers’ data and files off-site – and gives advice on how to tackle them. Other threats identified by the team in its first “threat horizon” report include: Russian state hackers attempting to gain users’ passwords by warning they have been targeted by government-backed attackers; North Korean hackers posing as Samsung job recruiters; and the use of heavy encryption in…

Financial authorities are seeking to punish criminally those involved in illicit cryptocurrency trading, in a move to rein in the thriving digital asset market that remains tax-free, despite investors’ hefty gains over the past few years. The first step toward legislation is expected to expedite the discussion on the need for prompt recognition of digital currencies as valid financial assets, establishing grounds for the government to impose a tax on gains from crypto trading as scheduled. According to a report submitted by the Financial Services Commission (FSC) to the National Assembly National Policy Committee, a minimum prison term of one…