Crypto Newsletter

UK advertising watchdog flags crypto ads ‘red alert’ priority

Amid the United Kingdom taking a tougher regulatory stance on the cryptocurrency industry, a major local advertising industry organization has announced a crackdown on crypto ads.

The Advertising Standards Authority (ASA), the U.K.’s independent advertising regulator, plans to launch a major effort this month to hunt and shut down misleading crypto adverts, the Financial Times reported Friday.

Dogecoin (DOGE) Price Worst Hit As Altcoin Bloodbath Intensifies

Dogecoin (DOGE) price slid further down after breaking the key support level of $0.223 yesterday. The seventh-largest crypto-asset lost another 6% over the past 24-hours, making it one of the worst-performing altcoins among the top-10 cryptocurrencies. The meme coin has already lost 72.2% from its ATH of $0.735 and a dip below $0.200 levels could increase the risk of registering a new 3-month low.

Binance CEO Changpeng Zhao Ponders Regulation: 'Compliance Is a Journey' in Crypto

Binance CEO Changpeng Zhao stated his take on the recent regulatory crackdown Binance is facing. In a blog post, Zhao explains Binance aims to comply with local regulations. However, he also stated cryptocurrency was a nascent industry, and there are a lot of uncertainties in the field. Binance has been getting a slew of warning from governments all over the world for failing to comply with specific regulations.

Crypto Traders Should Brace for Extended Correction, Warns Analyst – Here’s How Long Market Downturn Could Last

A popular crypto analyst who accurately predicted a pair of Bitcoin (BTC) price crashes says traders should brace for an extended market correction.

Pseudonymous crypto trader Dave the Wave tells his 68,600 Twitter followers that previous pullbacks on Bitcoin’s logarithmic growth curve (LGC) indicate that the current correction could extend another five months – until the end of 2021.

Poll finds majority of citizens are skeptical of El Salvador’s move to authorize bitcoin as legal tender

According to a recent poll, more than three-quarters of Salvadorans are skeptical of the maverick leader’s push to adopt the leading cryptocurrency bitcoin as parallel legal tender, Reuters reported. Earlier, El Salvador President Bukele’s allies in Congress approved legislation giving bitcoin an official currency status in the small Central American nation, becoming the first country to do so. However, the use of bitcoin is only optional.

Android crypto scam industry now targets more than 93000 victims

At least 150 mobile apps for Android have been branded fake when it comes to the cryptocurrency business. Twenty percent of these fraudulent Apps are in the Play Store, while the extra percentage is from clandestine websites. These mobile applications promise to receive cryptocurrencies, such as Bitcoin, without mining each token.

Square To Enter Crypto Hardware Market With Bitcoin First Wallet

Twitter CEO Jack Dorsey-led payments company Square confirmed it aims to build a bitcoin (BTC) first hardware wallet "to make bitcoin custody more mainstream."

"We have a lot of questions and issues to reconcile and we’ll start with this product direction: bitcoin first, global distribution, multisig to achieve “assisted-self-custody,” and prioritizing mobile use," Jesse Dorogusker, Hardware Lead at Square, wrote in a Twitter thread today.

Bitcoin trader eyes US dollar for BTC price breakout cue, Ethereum clings to $2K

No sign of a breakout as $33,000 becomes resistance overnight and altcoins trade mostly flat as a result of BTC price weakness. Bitcoin (BTC) stayed below the $33,000 mark on July 9 with a fresh price dip also putting an end to altcoin strength.

Dogecoin gains 8% after Elon Musk says DOGE payments compete with Bitcoin, Ethereum

Dogecoin (DOGE) may need a new marketing strategy after the latest publicity stunt from Elon Musk moved its price by less than 8%.

In a tweet on July 8, "Dogefather" Musk argued that Dogecoin could do a better job at payments than Bitcoin (BTC) or Ethereum (ETH).

Crypto Scammers Now Stalking Dating Apps Like Tinder for Prey

Crypto scammers may have found a new hunting ground for bitcoin (BTC) and altcoin-holding victims: dating apps.

Per a case study published by the US-based crypto self-custody solutions provider Casa, scammers have developed a “novel attack” that targets crypto enthusiasts. The firm warned of “malicious actors who are lurking on dating apps.” These attackers, it said, “appear to be becoming more crypto-savvy.”