Bitcoin News and Finance: What You Need to Know

Ukrainian law enforcement has exposed a financial pyramid originating from Russia suspected of making millions of U.S. dollars. The scam convinced victims to send fiat money and cryptocurrency by promising profitable investments in big companies around the world. Large Crypto Pyramid Scheme With Russian Roots Busted in Ukraine Officers from the Security Service of Ukraine (SBU) have unraveled a fake investment scheme called ‘Life Is Good,’ the agency announced on Tuesday. The fraudsters behind it offered potential clients to multiply their money by acquiring shares of global enterprises. The organizers of the large-scale pyramid scheme allegedly received almost $40 million dollars from more than 1,000 people they managed to defraud. The victims were instructed to transfer the money directly to the crypto wallets and bank accounts of the scammers. Life Is Good had an online platform maintaining fake investor accounts. Customers were promised deals bringing stable profits in the fo...

In the past 20 days, the Arbitrum blockchain has recorded a significant number of transactions coinciding with the recent ARB airdrop that occurred on March 23. About two weeks ago, on that day, the Arbitrum network recorded an all-time high of 2.72 million transactions settled in 24 hours. L2 Network Arbitrum Records 2.72 Million Transactions in a Single Day, Transfer Count Remains Parallel With Ethereum’s Daily Rate The Ethereum Layer 2 (L2) scaling solution, Arbitrum, has seen a significant amount of activity over the last 20 days or since March 16, 2023. The surge in activity follows Arbitrum outpacing Ethereum’s number of transactions per day for the first time 41 days ago, on February 23, 2023. After the milestone on February 23, Arbitrum’s transactions per day (TPD) dropped below Ethereum’s TPD until March 16. At that time, Arbitrum’s TPD once again surpassed Ethereum’s TPD, and the network reached its all-time high (ATH) on March 23. That was the same day the ARB airdrop ...

Bitcoin was once again trading below $28,000, as markets consolidated ahead of Friday’s non-farm payrolls report. Payrolls are expected to come in at 240,000 for last month, with the unemployment rate in the U.S. remaining at 3.6%. Ethereum was also lower today, following an eight-month high on Wednesday. Bitcoin Bitcoin ( BTC ) was once again trading under $28,000 on Thursday, as markets began to prepare for tomorrow’s non-farm payrolls report. BTC /USD dropped to an intraday low of $27,831.56 in today’s session, which comes less than 24 hours after trading at a high of $28,714.22. The move came as bitcoin bulls were unable to sustain a breakout of a key resistance level of $28,500. Looking at the chart, this latest drop in price came as the 14-day relative strength index (RSI) dropped below a floor of 58.00. As of writing this, the index is now tracking at 57.80, with the 10-day (red) moving average nearing a downwards cross with its 25-day (blue) counterpart. Should sentimen...

The United States’ attempts to “assassinate crypto” are illegal and unlikely to succeed because “crypto is global,” Steven Boykey Sidley, a South African professor and author, has argued. According to Sidley, many formerly U.S.-based companies and innovators have fled the country and have set up bases in countries with more “comfortable” regulatory environments. The United States’ Agenda Against Crypto Steven Boykey Sidley, a South African professor of practice at JBS, University of Johannesburg, has accused U.S. regulators and departments of orchestrating what he described as coordinated and “possibly illegal” efforts to “assassinate crypto.” Sidley insisted that there are no moral or legal grounds justifying the attempts to take out BTC , particularly when the world is in the midst of a banking crisis sparked by banking failures in the U.S. In his op-ed published by the Daily Maverick, Sidley points to the U.S. Federal Reserve’s “opaque and non-explanatory” reasons for refusing ...

The world of cryptocurrencies and blockchain has exploded in recent years. However, a lack of understanding surrounding this technology has led to a number of false beliefs and misconceptions, causing many people to approach digital assets with unwarranted suspicion and uncertainty. To combat this, Binance has made it part of its mission to provide accessible Web3 education to everyone and work to enhance crypto comprehension. Through these efforts, Binance aims to debunk common misconceptions and promote greater crypto literacy. Their goal is to clear up confusion and help improve the general public’s understanding of crypto. It’s crucial to have a thorough understanding of the basics and think critically, as this will help people better comprehend and, ultimately, use cryptocurrency. Time to bust some crypto myths! Myth: Crypto Is Only Used By Criminals The use of crypto for illegal activities has been a topic of concern since the early days of this new form of digital currency....

One of China’s leading insurers has backed the establishment of two crypto investment funds in Hong Kong. The business move comes against the backdrop of the region’s ambitions to become a hub for digital assets, and despite the negative regulatory attitude towards the market in the mainland. Chinese Insurance Giant Enters Crypto Space Through Hong Kong Subsidiary A Hong Kong-based company, part of the China Pacific Insurance Company (CPIC) group, has joined forces with Waterdrip Capital and established two investment funds in the special administrative region that will concentrate on the industry built around blockchain technologies and crypto assets. CPIC is China’s third largest state-owned insurance company, Chinese crypto journalist and blogger Colin Wu, also known by the Twitter handle ‘Wu Blockchain,’ noted in a post on Monday, citing a report by the Chinese news outlet 36kr.com. China’s third largest state-owned insurance institution Pacific Insurance Investment Managemen...