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This week, the rapper Snoop Dogg spoke about the crypto crash in an interview with CNBC on Tuesday and explained that he believes the cryptocurrency economy will bounce back. Snoop said that he feels like the crash “‘weeded’ out all of the people” that were not supposed to be in the space in the first place. Snoop Says Crypto Crash Is Transitory and Great Choices Will Follow the Aftermath Snoop Dogg thinks the current crypto crash is temporary and in time he believes the ecosystem will bounce back. Speaking with CNBC on Tuesday, the hip-hop recording artist discussed his current perspective on non-fungible tokens (NFTs) and cryptocurrencies. While talking about NFTs, Snoop said that what drew him toward the digital collectibles space was the intellectual property (IP) ideas and “being able to own and control the whole IP and not be used as a face or marketing tool … but to actually be the owner, the CEO.” When Snoop was questioned about the current crypto market drawdown, he resp

The electronics giant and largest corporation in South Korea, Samsung, is in the midst of creating 3-nanometer (3nm) semiconductors for a Chinese application-specific IC firm, sources have said. The new chip design has caused speculation among the crypto community that it’s possible Samsung may be creating application-specific integrated circuits (ASICs) for bitcoin miners. Sources Say Samsung to Start 3nm Process This Week, Crypto Community Believes Chinese IC Firm May Be a Bitcoin Mining Rig Maker There is speculation that Samsung is creating ASICs for bitcoin mining and the BTC mining rig manufacturer Microbt may be a future customer. The sources stem from thelec.net publication which explains that the electronics company aims to trial the foundry production of the 3nm chips this week. Other reports have noted that Samsung hinted about the new chips in a 2022 earnings call. The company has also been involved in non-fungible token (NFT) assets this year and introduced smar

PRESS RELEASE. StreamCoin announced that more than 5,000 users have registered for its STRMNFT marketplace. The Web 3.0 live streaming company says it accomplished this feat in less than a month after opening user registration on May 31, 2022. StreamCoin users have been supporting its vision since January 2022, though the company also noticed significant registration traffic from new crypto users. StreamCoin team also encouraged already-registered users to start minting their image and video NFTs on STRMNFT while it is free until July 2022. After July, minting an NFT on this platform will incur a cost. In addition to minting, the company is also promoting its energy-efficient blockchain, which offers up to 300,000 transactions per second (TPS). CEO of StreamCoin Michael Ein Chaybeh explained that StreamCoin’s native blockchain ‘Stream Chain’ had to be ‘responsible’ and ‘eco-friendly’ given the environmental risks. “As we observe how the planet is being consumed every day by opera

European institutions have reached an interim consensus on a set of EU regulations that will burden crypto companies with the obligation to help prevent money laundering, among other illicit activities potentially involving digital assets. The progress comes as the Union seeks to comprehensively regulate the continent’s cryptocurrency market. EU Officials and Lawmakers Agree on AML Measures in Crypto Space Negotiators representing the key participants in the EU’s decision-making process have reached an agreement on anti-money laundering (AML) rules that will require businesses in the crypto industry to verify the identities of their customers and report suspicious transactions. In the future, Europe’s Transfer of Funds Regulation (ToFR) will also cover cryptocurrency transactions. The regulations are yet to be finalized and approved by the relevant European institutions but the provisional deal signals an upcoming tightening for the sector. Crypto firms will have to assist financia

Grayscale Investments, the world’s largest digital currency asset manager, has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) challenging the securities regulator’s decision to reject its application to convert the Grayscale Bitcoin Trust to a spot bitcoin exchange-traded fund (ETF). Grayscale Takes SEC to Court Over Spot Bitcoin ETF Application Grayscale Investments filed a “petition for review” Wednesday challenging the decision by the U.S. Securities and Exchange Commission (SEC) to deny the company’s application to convert the Grayscale Bitcoin Trust (GBTC) to a spot bitcoin exchange-traded fund (ETF). Michael Sonnenshein, Grayscale’s CEO, tweeted soon after the SEC rejected his company’s application: “We’ve filed a lawsuit against the SEC.” Sonnenshein commented: “We are deeply disappointed by and vehemently disagree with the SEC’s decision to continue to deny spot Bitcoin ETFs from coming to the U.S. market.” He added: We believe American invest

Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurrencies, the head of the agency announced. Hundreds of thousands of Russians take part in crypto deals abroad, the top regulator also reported to the Russian president. Russian Authorities Initiate 20 Criminal Cases Linked to Crypto Assets The Federal Financial Monitoring Service of the Russian Federation, also known as Rosfinmonitoring , is trying to unravel around 400 cases in which cryptocurrencies are involved. The agency’s director, Yury Chikhanchin, revealed the number during a meeting with President Vladimir Putin. The financial watchdog is working on them together with representatives of the Ministry of Internal Affairs (MVD) and the Federal Security Service (FSB), the high-ranking official noted. Law enforcement authorities have already initiated 20 criminal cases related to digital assets, he also said. Commenting on the volume of the crypto turnover registered by his department, Chik

PRESS RELEASE. The cryptocurrency industry has certainly become oversaturated with hundreds of crypto projects being established everyday with many of them failing before ever reaching any significant milestone. The mass success of the industry has led to many believing they can achieve that very same amount of success despite not putting in as much work or providing as many solutions for users in the crypto space. The likes of Binance Coin ( BNB ) and Cardano ( ADA ) has long been established as two of the most influential cryptocurrencies and have both reigned as top 10 cryptocurrencies, measured by market cap, according to data from CoinMarketCap, for a number of years. Offering different solutions in the crypto space, their dominance has inspired many new projects including Xchange Monster (MXCH) who aim to make a similar impact in its respective sector, which is the GameFi sphere. What does Xchange Monster (MXCH) have to do to reach the pinnacle of crypto? The most imp

Circle Internet Financial has revealed a usd coin custody partnership with the American bank holding company New York Community Bancorp (NYCB). Under the agreement, NYCB’s subsidiary, New York Community Bank, will become a custodian for the company’s stablecoin reserves. Circle Partners With New York Community Bancorp On Tuesday, Circle announced that it is collaborating with NYCB, the parent company of the U.S. Bank National Association. According to the announcement, NYCB’s subsidiary, New York Community Bank, will custody reserves for Circle’s popular stablecoin usd coin (USDC). USDC is the second largest stablecoin today with a $53.9 billion market capitalization. During the past 24 hours, Circle’s USDC stablecoin has seen $5 billion in global trade volume. New York Community Bank will also work with Circle in order to provide unbanked communities with access to low-cost financial solutions. The companies’ strategies will leverage blockchain solutions and stablecoin systems. S

According to a recent report from Sky News citing a source familiar with the matter, “cryptocurrency insiders” have said that the troubled crypto hedge fund Three Arrows Capital (3AC) has been formally liquidated by a British Virgin Islands (BVI) court. The report does not disclose what type of assets face liquidation, but the sources remarked that “the [3AC] liquidation would be a significant moment in the current unraveling of the cryptocurrency sector.” 3AC Reportedly Liquidated by British Virgin Islands Court System — Reporter Says Immediate Financial Implications Are ‘Unclear’ Once again a source familiar with the situation has information pertaining to an embattled digital currency firm facing alleged financial hardships. According to Sky News, a source explained that Three Arrows Capital Ltd. has officially been liquidated by a British Virgin Islands (BVI) court. Sky News author Mark Kleinman details that it is “unclear what the immediate financial implications would be for

PRESS RELEASE. INTERNET CITY, DUBAI, Jun. 29, 2022 – LBank Exchange, a global digital asset trading platform, will list Delio (DSP) on June 30, 2022. For all users of LBank Exchange, the DSP/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on June 30, 2022. Its native token DSP will be listed on LBank Exchange at 16:00 (UTC+8) on June 30, 2022, to further expand its global reach and help it achieve its vision. Introducing Delio – Delio is a leading company in the Web 3.0 industry in South Korea. – Delio is the top crypto-asset financing company recognized by the Korean institutions having a cumulative savings and lending volume of $2 billion in 2021. – Having established in 2018 in Seoul, Korea, Delio is a legitimate service provider that has formally acquired the Virtual Asset Service Provider (VASP) license from the Financial Services Commission (FSC). – The major services of the company include crypto-asset savings, crypto loans, decentralized exch

SOL was down by as much as 14% on Wednesday, as prices fell close to a one-week low earlier today. In addition to this, AVAX saw a similar decline, as the token dropped for a fourth consecutive session, with prices moving below $20. Solana (SOL) SOL was lower in today’s session, as prices fell for a fourth straight session following a false breakout of the $40 level. The world’s ninth largest cryptocurrency dropped to an intraday low of $34.24 in today’s session, which is its lowest point since June 23. Wednesday’s six-day low comes less than 24-hours after prices were trading at a peak of $39.71. Despite today’s nearly 14% decline, SOL is currently only 3.9% lower than at the same point last week, when prices rose to a peak of $43. Looking at the chart, SOL/USD is currently trading at $34.27, however we could be set to see further declines, as bears target the $30 mark. However, in order to reach this point, price strength will have to fall below the support point on the 14-da

In a recent interview, Sam Bankman-Fried, the founder of the popular exchange FTX, warned that some crypto exchanges are “secretly insolvent” and may soon fail. Bankman-Fried’s FTX and Alameda Research have already helped Blockfi and Voyager Digital as the 30-year-old billionaire says sometimes you have to do “what it takes to sort of stabilize things and protect customers.” Bankman-Fried’s FTX and Alameda Research Provide Credit Lines to Specific Crypto Firms The crypto economy has been hit hard by the current bear market and Terra LUNA and UST fallout that took place last month. Terra’s downfall arguably started a significant domino effect that saw numerous exposed firms suffer sizable losses. Many of the issues hurting the crypto community stem from massive leverage and most of the contagion effect is tethered to lenders and borrowers. Over two weeks ago, the crypto lender Celsius paused withdrawals, and ‘ people familiar with the matter ’ have said Celsius is dealing with no

Bitcoin fell below $20,000 during Wednesday’s session, as markets reacted to yesterday’s weaker-than-expected consumer confidence report. The expectation for economic growth also fell to a nine-year low. This resulted in ETH also dropping, with prices hitting a six-day low. Bitcoin The world’s largest cryptocurrency fell below $20,000 on hump day, as traders reacted to Tuesday’s consumer confidence report. Figures from the Conference Board showed that its index went from 103.2 in May, to 98.7 during June. As a result of weakening expectations for economic growth, traders were anxious on Wednesday, resulting in many liquidating positions in crypto. BTC /USD slipped to an intraday low of $19,937.79 earlier in today’s session, which is its weakest point in nearly a week. Overall, prices have now fallen for four consecutive sessions, with bears seemingly targeting the recent price support at $18,850. Although currently tracking at 31.50, the 14-day RSI looks to recapture its own f

Nigerian author and crypto advocate Nathaniel Luz has said his recently published book represents his attempt to remind people of the initial reason why bitcoin was created. He said bitcoin is the summation of over three decades of research and experimentation. Noise of Other Cryptos Drowning Out Message of Bitcoin A Nigerian author and crypto advocate, Nathaniel Luz, has published a new book on bitcoin wherein he reminds readers of the reasons why the cryptocurrency was created. Luz also uses the book to highlight the fact people now use bitcoin to “transact globally without restrictions of age, gender, race or location.” According to Luz, the release of the book is coming at a time when many — particularly those new to crypto — appear to be attracted more by the promise of an “infinite percentage of returns” than by BTC ’s primary selling points. He also said seeing the noise of various cryptocurrencies drowning “the message of bitcoin” motivated him to write a book that explains

The crypto economy has slipped under the $1 trillion mark to the $970 billion range, as a large number of digital currencies have lost more than half their USD worth since November 2021. Bitcoin is down 70% from the all-time high last year, and a new report from Glassnode Insights calls the current bear market “a bear of historic proportions,” while highlighting that “it can reasonably be argued that 2022 is the most significant bear market in digital asset history.” Glassnode Researchers: ‘Bitcoin Is Currently Experiencing the Largest Capital Outflow Event in History’ Many people understand that the crypto economy is currently in a bear market but no one knows where it will lead or when it will end. Bitcoin and the crypto economy, in general, have been through several bear markets and a recent Glassnode Insights report claims it just might be the worst on record. The analytics company Glassnode provides an analysis of bitcoin’s (BTC) current price drop and how the digital asset s

A Twitter account has accused the Bulgarian co-founders of the Swiss-based cryptocurrency lender Nexo of misappropriating funds from a charity platform. The company has rejected the allegations in the anonymous attack, which comes after Nexo offered a buyout deal to troubled rival Celsius. Anonymous Allegations Against Co-Founders Circulated on Social Media A Twitter user going by the handle @otteroooo has drawn attention to media reports about misuse of donations to a charity allegedly linked to the people behind Nexo, a major provider of crypto-backed loans. In a thread published on Sunday, the unidentified author accuses Nexo co-founder Kosta Kantchev and his family of siphoning money from the Helpkarma foundation which raises funds for various goodwill causes. Another two co-founders — former Member of Parliament and managing partner at Nexo Antoni Trenchev and Georgi Shulev — have been mentioned as well. NEXO FOUNDER & FAMILY SIPHONED FUNDS FROM CHARITY FOR SICK KIDS, U

The embattled crypto lending platform Celsius has kept withdrawals and transfers frozen since June 12 and told the Celsius Network community that the “process will take time.” Since then, Celsius users are wondering why they are still receiving weekly rewards, and reportedly the company’s management has been arguing with its lawyers over whether or not the business should file for Chapter 11 bankruptcy. However, most of the Celsius articles these days are quoting ‘people familiar with the matter,’ and ultimately these sources cannot be verified. Celsius Customer Says It Is ‘Insulting’ That the Lending Company is Still Paying Weekly Rewards 16 days ago, the crypto lending platform Celsius told customers that it was pausing swaps, transfers, and withdrawals and did not refer to a time when the company would reinstate the services. Since then, it has been assumed that Celsius is suffering from a financial hardship and possible insolvency . Last week it was reported by the Wall Street

XTZ rose to its highest point in nearly three weeks on Tuesday, as the token climbed for a second straight session. The move came as FLOW was also trading higher, as prices of the coin moved closer to $2. Overall, crypto markets were 0.90% lower as of writing. Tezos ( XTZ ) XTZ rose to a multi-week high on Tuesday, leading prices to a collision with a long-term resistance level in the process. Tuesday saw tezos climb to an intraday peak of $1.68, which is nearly 9% higher than yesterday’s low at $1.49. As a result of this rally, XTZ /USD collided with its long-term resistance level at $1.65 for the first time since June 12. Following recent lows, prices of the token have steadily increased, and as of writing are 11.48% higher than at the same point last week. In addition to prices, another resistance has been hit, as the 14-day RSI hit a ceiling of its own at the 50.20 point. Tezos bulls appear to be attempting to enter the $2 region, however this will likely not occur until

During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped Over the Last Month The crypto bear market has done some damage to the digital currency economy and many continue to wonder if the market carnage will continue. The market has seen a brief consolidation period after the most recent sell-off, which took BTC down to $17,593 per unit and ETH dipped to $877 per coin. Both coins have seen a significant amount of fiat value removed since last month and BTC ’s and ETH ’s market dominance has decreased since then as well. At the time, BTC was trading for $28,946 per unit on May 27, 2022 , and ETH was exchanging hands for $1,745 per unit. At the time of writing, BTC is exchanging hands for just above $21K per uni

ETH has managed to remain above the $1,200 level on Tuesday, despite an increase in price uncertainty in crypto markets. BTC fell below $21,000 in today’s session, as the global crypto market cap fell by as much as 2% earlier today. Bitcoin Following a marginally bearish start to the week, downward pressure intensified in today’s session, sending bitcoin slightly lower. The world’s largest crypto token fell to an intraday low of $20,577 during Tuesday’s session, less than 24 hours after nearing $22,000. Today’s decline comes following a rise of bearish sentiment, with traders seeing yesterday’s decision by bulls to secure gains as a sign of weakness. As such, those looking for downward opportunities used that as a signal to re-enter the market, pushing prices marginally lower in the process. One of the main catalysts for this change in sentiment is the 14-day RSI, which failed to break out of its key resistance level of 35.70 on Monday. As of writing, BTC /USD is now trading

Analysts from the multinational investment bank and financial services company Goldman Sachs Group Inc. have downgraded Coinbase Global Inc. in a note to investors on Monday. Today, Coinbase shares are down 83.68% from the stock’s all-time high (ATH) in November 2021. Goldman analyst William Nance explained that his group of market strategists believes “Coinbase will need to make substantial reductions in its cost base.” Goldman Downgrades Coinbase, COIN Shares Down 83% From Price High Coinbase shares have suffered during the bear market as many crypto company stocks have lost considerable value during the last few months. When Coinbase first went public on April 14, 2021, the company’s shares were listed on Nasdaq via a direct listing under the ticker COIN . At the time, the Coinbase initial public offering (IPO) reference price was set at $250, and investors saw the crypto exchange’s listing as a “watershed” moment. Following the stock coming out of the gate 14 months ago, amid

Bitcoin remained close to a ten-day high on Monday, as prices consolidated following gains from the weekend. Although ETH was lower to start the week, it was also able to remain close to Sunday’s peak around the $1,280 level. Bitcoin BTC was consolidating during today’s trading session, as bulls appear to have secured some profits following recent gains. Coming from the back of a high at $21,783.72 on Sunday, BTC /USD rose to an intraday low of $20,965.11 on Monday. This decline sees bitcoin start the week trading almost 2% lower, however still close to recent highs, as some bullish sentiment still remains. In terms of upwards sentiment, this can be seen in today’s action, with prices bouncing back from earlier lows, and as of writing they sit at $21,261.87. As outlined during the weekend, one of the hurdles that could have prevented BTC from further gains was that of the 36.45 ceiling on the RSI, and this has turned out to be the case. Looking at the chart, today’s fall com