Cryptocurrency
Bitcoin slumps up to 20% after Wall Street selloff
Bitcoin, the largest cryptocurrency by market value, was down 18 per cent at $46,571.84 according to data from CoinDesk. It temporarily dipped to $42,000 before bouncing back. Ether, the second-largest cryptocurrency, was down close to 16 per cent, the MarketWatch report said.
Jack Doresy's firm Square changes its name to Block
This announcement came after Square Founder Dorsey, who is a staunch supporter of Bitcoin, stepped down as Twitter CEO. "We built the Square brand for our Seller business, which is where it belongs," said Dorsey. "Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy," he said in a statement late on Wednesday.
Unwise for India to place bans on private crypto assets: Report
The Indian crypto asset industry has witnessed exponential growth over the last five years. Analysts suggest that more than 15 million Indians now hold digital currencies. As a result, cryptocurrencies, like any other financial asset, need to be regulated in order to ensure consumer welfare as well as promote innovation. This is the key finding of Regulating Crypto Assets in India.
Unregulated crypto fueling ransomware attacks globally: Report
Cryptocurrency will continue to fuel cybercrimes such as ransomware and malicious cryptomining, and the trend will continue until global cryptocurrencies are better regulated, according to researchers from global cyber security firm Sophos. Over the coming year, the ransomware landscape will become both more modular and uniform, with attack "specialists" offering different elements of an attack "as-a-service" and providing playbooks with tools and techniques that enable different adversary groups to implement very similar attacks.
Indian govt aims to block 'irresponsible' crypto ads
In a memo outlining the summering of a meeting of Prime Minister Narendra Modi and the crypto industry players late on Saturday, the government has clearly shown its displeasure over such mushrooming advertisements that promise wild profits. The crypto stakeholders and the government have reached a consensus that such advertisements are misleading youths and must be curbed.
Twitter building dedicated crypto team to focus on Blockchain
The company has hired Tess Rinearson as the team's engineering lead to "set the strategy for the future of crypto at (and on) Twitter." "First, we will be exploring how we can support the growing interest among creators to use decentralised apps to manage virtual goods and currencies and to support their work and communities," Rinearson said on Twitter.
Tim Cook reveals he owns crypto on a day Bitcoin hits historic $68,000 high
Cook, whose real-time net worth is about $1.4 billion, shot down rumours that Apple is targeting crypto as an investment even as prices for bitcoin and ethereum soared to new record highs.He said Apple has been looking at crypto, but might not offer users a way to pay with it anytime soon. Cook was speaking on Tuesday at the Dealbook Online Summit. "I think it's reasonable to own it as part of a diversified portfolio," he told DealBook's Andrew Ross Sorkin - quickly adding that he wasn't giving investment advice.
Squid Game cryptocurrency tanks to $0, scammers make $2.1 million
The SQUID crypto coin was trading at $0.003203, reports CoinMarketCap. The developers behind the crypto project have left the project after the price of its affiliated token crashed to nearly zero. They claimed on its official Telegram channel that its developers do not want to continue running the project due to the stress of dealing with scammers.
Crypto hackers targeting iPhone users via Bumble, Tinder apps
Jagadeesh Chandraiah, a senior threat researcher at Sophos said that the attackers tend to post convincing fake profiles on popular dating apps as the first step. That is how they come in contact with the targets. Sophos uncovered a Bitcoin wallet controlled by the attackers that contain nearly $1.4 million in cryptocurrency.
Bitcoin mining generates tonnes of e-waste: Study
According to a new study by Science Direct, at peak Bitcoin price levels seen early in 2021, the annual amount of e-waste may grow beyond 64.4 metric kilotonnes in the midterm, which highlights the dynamic trend if the Bitcoin price rises further.
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