According to local reports, the central bank of Russia is planning to take steps to throttle the rise in crypto trading activity in the country, including blocking some digital currency purchases, in a bid to tackle suspicious activity. The Bank of Russia has begun working closely with local banks to identify potentially suspicious crypto payments, instructing them to halt payments sent to digital currency exchanges to prevent “emotional” bitcoin purchases.
The price of Algorand is bearish for today, as the market was unable to move past the $2.20 mark after a rapid climb during the last hours. As a result, we believe that ALGO/USD will retreat and attempt to test the $1.90 support area again.
The CEO of business analytics software firm MicroStrategy, Michael Saylor, says Bitcoin is in a class of its own compared to other crypto assets.
Binance’s regulatory woes have now expanded to the US, in what could be its worst regulatory showdown until now. A recent report from Bloomberg highlighted that the US Commodity Futures Trading Commission (CFTC) is now looking into the crypto exchange on allegations of possible insider trading and market manipulation.
The cryptocurrency-infused financial tech company Revolut has announced it has purchased a Wework office with bitcoin. Revolut detailed that the office space in Dallas, Texas will house 300 employees to prepare for the company’s U.S. expansion.
One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory.
An Ethereum competitor has surged nearly 60%, hitting its all-time high this week, even while the majority of other crypto projects have moved sideways on the price charts.
Laos has authorized a series of cryptocurrency mining and trading projects in the country, looking for another source of income to supplement the losses caused by the drop in tourism due to COVID-19 related measures. Six companies have been authorized to start cryptocurrency trading and mining operations in the country, according to the office of the prime minister.
SushiSwap‘s developer reported that 864 ETH worth about $3 million was stolen from the MISO token platform.