Yazar: cryptossor

The digital currency firm Etoro has revealed it is laying off 100 workers or roughly 6% of the company’s workforce. Furthermore, Etoro disclosed that the company is terminating the special purpose acquisition company (SPAC) merger planned with Fintech Acquisition Corp. Etoro says the company plans to raise funds privately now and aims to raise $800 million to $1 billion. Etoro Cuts Staff, SPAC Deal Canceled The Tel Aviv, Israel-based social trading and crypto investment platform Etoro is laying off around 6% of the firm’s staff. The company’s CEO and co-founder Yoni Assia said the decision was based on market conditions.…

SAND surged by as much as 12% on Wednesday, as prices moved to a ten-day high during the session. The rise comes as crypto markets were mostly in the green, with AVAX also rising over the course of the day. As of writing, the global crypto market cap is nearly 3% higher. The Sandbox (SAND) SAND was one of the notable movers on hump day, as prices of the token rose by as much as 12% over the course of the day. After falling to a low of $1.12 on Tuesday, SAND/USD moved to a high of $1.28 earlier in…

Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy. The company explained that the “prolonged volatility and contagion in the crypto markets” and the default of crypto hedge fund Three Arrows Capital (3AC) on a loan require it “to take deliberate and decisive action now.” Voyager’s Bankruptcy Filing Voyager Digital Ltd. (TSE: VOYG) announced Wednesday that it has filed for Chapter 11 bankruptcy. The announcement details: The company and its main operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court of the Southern District of New York. In addition, the company said it…

BTC was trading higher on hump day, as bullish momentum picked up as the week progressed. Prices once again tested a key resistance level above $20,000, with ETH also hovering around a ceiling of its own during Wednesday’s session. Bitcoin Bitcoin was trading in the green for most of Wednesday’s session, as bullish pressure continued to intensify. Following a low of $19,341.23 on Tuesday, BTC/USD was up by over $1,000 from this point earlier today. Prices rose to a peak of $20,635.47 during the session, surging past the resistance point of $20,500 in the process. Like on Tuesday, gains have…

Central African Republic (CAR) president Faustin-Archange Touadera announced recently that cryptocurrencies are an alternative to cash. Bitcoiners, however, insist the top cryptocurrency is the only solution to the CAR’s money problems. Formal Economy Not an Option Central African Republic president Faustin-Archange Touadera has said cryptocurrencies are an alternative to fiat cash. Touadera also claimed that “the formal economy is no longer an option” for the CAR. According to a Zawya report, Touadera’s latest pro-crypto remarks were made just as his country launched the Sango coin, a crypto asset that officials claim will be used to access the CAR’s natural resources.…

In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity. India’s Worsening Trade Deficit Faced with a rising trade deficit and weakening local currency, the Indian government announced on July 1 that it was hiking the duty on imported gold from 7.5% to 12.5%. Immediately after the announcement, the precious metal’s price in India went up by 3%. According to…

Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other transactions for customers, has been offered a way out of its troubles. On Tuesday, major crypto lender Nexo unveiled it had signed an indicative term sheet with Vauld that grants it a 60-day exploratory period for exclusive talks over the intended acquisition of the rival…

Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by 11% on some exchanges. Dollar-to-Peso Exchange Rate Plummets Due to Political Uncertainty in Argentina The rate that citizens in Argentina use to exchange the native fiat currency, the Argentinian peso, for dollars, has plummeted due to the climate of political and economic uncertainty the country…

The Monetary Authority of Singapore (MAS) has told Parliament that the central bank is considering imposing additional restrictions on cryptocurrency trading. They include “placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.” MAS Considers New Restrictions on Crypto Trading Tharman Shanmugaratnam, the minister in charge of the Monetary Authority of Singapore (MAS), answered a parliamentary question about the regulation of cryptocurrency Monday. Murali Pillai, a member of the Singapore Parliament, asked whether the MAS “intends to implement further restrictions on cryptocurrency trading platforms with a view to protect unsophisticated persons from entering into…

A hacker claims to have stolen the personal data of a billion Chinese citizens from the Shanghai National Police (SHGA) and is selling it for 10 bitcoins. “This database contains many TB of data and information on billions of Chinese citizens.” 23 Terabytes of Data on a Billion Chinese Citizens on Sale for 10 Bitcoins An anonymous hacker has claimed to have stolen about 23 terabytes of data on a billion Chinese citizens from a Shanghai police database. Experts say that, if true, this would be one of the biggest data breaches in history. The data is being offered for…