Cryptostreet

  China's " Blockchain -based Service Network" (BSN) is a government initiative to promote the commercial adoption of blockchain technology. But that has nothing to do with cryptocurrencies. Cryptocurrencies are, two senior BSN officials claimed a few days ago in the government-sponsored People's Daily, "the largest Ponzi scheme in human history." This is because the early adopters benefit the most, and to remain stable, cryptocurrencies needed a constant flow of new investors. The inner circle therefore tries to push the deceit further by dressing it in ever new cloaks. But there is hope that the system will collapse. The status is extremely fragile. "If there is malicious short selling, no new investors, tight budgets or a change in regulatory policy" this will lead to collapse "and the value will go to zero." This statement is strikingly reminiscent of the western “computer scientists against bitcoin” and what the “ skeptics ” are sayi...

  According to media reports, North Korean hacker collective Lazarus is behind the $100 million hack on crypto platform Harmony . It is the group's second major crypto hack this year. Lazarus was also behind the $650 million hack of Axie Infinity in March 2022, according to the FBI . It was the worst DeFi heist ever. In both cases, Lazarus attacked the respective bridge, i.e. the bridge of the blockchain. These bridges are used to exchange cryptocurrencies quickly and easily. Here you can find out why bridges pose a major security risk for the entire blockchain ecosystem . The money from the hacks will go directly to North Korea's nuclear weapons program. My Top Picks Honeygain - Passive earner that pays in BTC or PayPal M andalaExchange - The Best no KYC crypto Exchange! BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends! Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin Co...

  It was a bitter battle between mutual funds and the US Securities and Exchange Commission. As early as 2013, four years after the Bitcoin Genesis Block, the first investment fund submitted an application to the SEC for permission to introduce a Bitcoin ETF. However, the SEC has not been interested in this topic for a very long time and has ignored the fund operators. However, last year there was a change. The urge for a crypto ETF grew as more and more Wall Street investors became aware of Bitcoin & Co. and wanted to invest in crypto classes. This is one of the reasons why the pressure on leading banks in the USA, such as JPMorgan and Goldman Sachs , both of which have introduced trading in Bitcoin, has increased – however, special requirements have to be met by the customer for this. Increasing confidence in Bitcoin as an asset class put additional pressure on the SEC. By October 2021, 14 applications for a Bitcoin ETF had already piled up on the US Securities and Exchange C...

  The crypto community on Twitter has heavily criticized Nic Carter, a prominent Bitcoin ( BTC ) advocate, for his involvement in Dynamic. Dynamic is a wallet authentication project that may block wallet transactions if a wallet is determined to be risky.  In a tweet, Carter spoke enthusiastically about his support for the project and shared Dynamic's announcement of a recent funding round where the project raised $7.5 million led by Andreessen Horowitz (a16z). As a result, numerous users commented on Carter's tweet and were disappointed with this step. Twitter user Lifetheuniverce stated that Dynamic is the "antithesis of what Bitcoin was created for." He also said the community needed fewer permits and less monitoring. Lifetheuniverce also wrote that transactions should be allowed to take place without a possible "veto" from a third party. JAN3 CEO Samson Mow criticized Carter, commenting that supporting such a project was "nothing to be proud of...

  Pantera Capital CEO Dan Morehead has spoken out, blaming the Federal Reserve for the tragedy of the global cryptocurrency industry. He mentioned that the Fed created a self-inflicted disaster here. The Fed made two big mistakes The digital asset market is in an extreme bear market. As the downtrend continues, bitcoin price is down another 4.70% on the day.  According to Morehead, the crypto market paid heavily for the two major central bank mistakes. He mentioned that of the two errors, only one was slightly corrected by the authority. However, the Fed does not seem to acknowledge the big mistake. Morehead pointed out that overnight rates that were way too low and way too long have hit the market hard. However, the most fatal mistake was the manipulation of the bond market. He added that this is the first time in 95 years that the central bank "never touched interest rates above overnight rates." Pantera Capital's CEO warns the rollback will be painful, but the Fed stil...