Mexican drug cartels have been using Bitcoin, Ethereum, Monero, and USDT to buy ingredients for producing fentanyl, a deadly synthetic opioid. This information comes from a report by the US Financial Crimes Enforcement Network (FinCEN). Cryptocurrency Transactions Cartels purchase fentanyl precursors, pill presses, and other equipment from Chinese companies using cryptocurrencies and other methods. They…
The Shiba Inu burn rate has taken a major leap, with a whopping 1,166% increase in just one day! Increased Activity and Token Burn According to Shibburn, the official burn tracker, the burn rate has spiked significantly. This means more people are burning their Shiba Inu tokens, resulting in a total of 35.29 million tokens…
An expert believes Bitcoin has historically recovered from downturns like the current one. Miner Capitulation and Bitcoin’s Price Analyst Willy Woo explains that Bitcoin’s hashrate (a measure of mining power) is linked to its price recovery. When miners find it profitable to mine Bitcoin, the hashrate increases. When it becomes less profitable, miners may disconnect…
Identity Theft and Fake Exchange Accounts A 31-year-old Melbourne man has been sentenced to two years in prison for using fake IDs to create cryptocurrency exchange accounts. The Australian Federal Police (AFP) investigation, codenamed “Operation Stonefish,” uncovered the man’s fraudulent activities. Cybercrime and Cryptocurrency The case highlights the growing connection between cybercrime and cryptocurrency. The…
Despite recent price dips, analysts predict Bitcoin will soar to $100,000. Banking Crisis in the US Concerns are growing about the financial stability of US banks. A report reveals that 68 banks hold over $500 billion in unrealized losses, primarily from investment securities. This raises fears of potential market destabilization. Bitcoin as a Safe Haven…
Crypto analyst Jason Pizzino believes Bitcoin (BTC) is consolidating before a major price spike. Google Trends as a Gauge Pizzino uses Google search trends to track Bitcoin’s cycle. He compares current search volume to historical patterns, suggesting Bitcoin is in a similar consolidation phase as in 2020. Timeline for Action Pizzino predicts increased activity between…
A crypto expert, Altcoin Sherpa, warns that the altcoin dogwifhat (WIF) could be in for a sharp decline. Despite its impressive 1,258% gain in the past six months, Sherpa believes it may not have reached its bottom yet. WIF’s Potential Drop Sherpa suggests that WIF could rebound to around $2.50 before falling to $1.26, a…
According to Ki Young Ju, CEO of CryptoQuant, the Ethereum Market Value to Realized Value (MVRV) indicator suggests a bullish outlook for altcoins. This indicator measures the ratio of Ethereum’s market cap to its realized cap, indicating whether the asset is undervalued or overvalued. Ju believes that Ethereum’s MVRV is rising faster than Bitcoin’s, indicating…
Cryptocurrency analyst Credible Crypto has made bullish predictions for Curve DAO (CRV), an altcoin built on the Ethereum blockchain. CRV Primed for Explosion Credible Crypto believes that CRV is poised for a significant rally, with a potential gain of over 1,700%. He predicts that the token could surge above $6 once Bitcoin reaches $100,000. Dogecoin’s…
Crackdown on Misconduct Italy is cracking down on crypto misconduct with a new law that imposes hefty fines for activities like insider trading and market manipulation. Fines range from €5,000 to a whopping €5 million, signaling Italy’s commitment to protecting investors. Regulators Team Up The Bank of Italy and Consob, Italy’s market regulator, will oversee…
