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Layer-1 blockchain platform and Ethereum-competitor Avalanche (AVAX) is making all the news despite the recent market correction. Late Sunday, November 21, Avalanche (AVAX) topped an all-time high of $146 making its way into the top-ten crypto list and seating Dogecoin (DOGE).
Kirill Doronin, mastermind of the Russian crypto Ponzi scheme Finiko, has proposed to testify against dozens of his former associates he claims violated his order to accept only cryptocurrency from investors. The founder of Russia’s largest financial pyramid in modern times has already provided detailed testimonies against a long list of accomplices, a media report revealed.
Australia is all keen on letting cryptocurrencies become an inherent part of the country’s financial system. Jane Hume, the Minister for the Digital Economy recently made positive comments in favor of digital assets while speaking at the AFR Super and Wealth Summit.
Quidd, a marketplace for digital collectibles and a subsidiary of Animoca Brands, has raised a total of $5 million in private pre-sales and an initial DEX offering (IDO).
A growing number of fund managers and institutional investors now prefer bitcoin over gold. They see the cryptocurrency as a better store of value and a better inflation hedge. “I think it’s probably going to be ten times better than gold over a long period of time,” said the founder of one asset management firm.
The Internal Revenue Service (IRS) has revealed that $3.5 billion in crypto was seized during the fiscal year 2021. This represents 93% of all funds seized by its criminal investigation unit during the same time period. The agency expects to seize billions of dollars more in cryptocurrency next year.
The CEO of Commonwealth Bank of Australia (CBA), the country’s largest bank, sees big risks in not participating in cryptocurrency. “We see risks in participating, but we see bigger risks in not participating,” he explained.
Bitcoin (BTC) is witnessing a tough tussle near the $58,000 mark but that has not stopped select altcoins from hitting a new all-time high. This shows that traders are watching the fundamental developments on individual coins.