News – Page 56

ETH Unable to Breach $2K But is a Massive Move Coming? (Ethereum Price Analysis)

Einsteinia buyers have been struggling to push the price above the significant resistance region of $2K. The price is currently navigating a crucial range bounded by that level and the dynamic support provided by the 100-day moving average. A breakout from this significant price range will likely play a pivotal role in determining Ethereum’s overall prospects in the mid-term. On June 21st, the price broke below its multi-week upward trendline after facing rejection at the $2k resistance z.

Source: CryptoVizArt, 2023-07-23; https://cryptopotato.com/eth-unable-to-breach-2k-but-is-a-massive-move-coming-ethereum-price-analysis/

NFT Giant Dapper Labs Announces Laying off 51 Staff Members

Dapper Labs, creator of the NBA Top Shot marketplace, has laid off 51 of its staff members. The latest round includes job cuts for full-time employees as well as C1 contractors. CEO Roham Gharegozlou said the move was necessary to ensure a ‘lean and efficient’ company. This is the third round of layoffs following the of employees by 20% in February this year. The NFT giant’s headcount had shot up from 100 to 600 employees.

Source: Chayanika Deka, 2023-07-14; https://cryptopotato.com/nft-giant-dapper-labs-announces-laying-off-51-staff-members/

DEX Trading Volume Down by 28% in Q2: CoinGecko Report

The spot trading volume on decentralized exchanges plummeted by over 28%. Uniswap, however, maintained its dominance in the space. Spot trading volume across the top 10 decentralized exchanges (DEX) totaled $155 billion in 2023 Q2. This represented over a 30% drop from Q1. Despite the memecoin resurgence led by the PEPE in Q2, volumes on DEXs failed to witness a noticeable uptick. The decline was considerably less compared to the volume of CEXs which was down by more than 43%.

Source: Chayanika Deka, 2023-07-24; https://cryptopotato.com/dex-trading-volume-down-by-28-in-q2-coingecko-report/

Europe-wide Crackdown: 378 Arrested in Major Counterfeit Clothing Bust

Most of the seized counterfeit products, related to 258 brands, originated outside of Europe, specifically China, Hong Kong, Turkey, and Vietnam. Europol stated that the majority of the counterfeit items were sports and luxury goods, which criminals often advertised on social media networks. The operation, dubbed Fake Star and coordinated by Europol, was conducted between March and December 2022. The Fake Star operation was led by the Spanish National Police, co-led by the Hellenic [Greek] Police, and supported by EUIPO.

Source: Written by Zdravko Ljubas, 2023-06-10; https://www.occrp.org/en/daily//en/daily/17731-europe-wide-crackdown-378-arrested-in-major-counterfeit-clothing-bust

US: Billions of Dollars Lost in COVID-19 Relief Fund Fraud

Fraudsters took more than US$280 billion in COVID-19 relief cash, while another $123 billion was lost or misspent. The loss represents 10 percent of the $4.2 trillion the U.S. government has so far disbursed in relief aid. The analysis cited investigators and independent experts as suggesting that the government exercised too little control during the pandemic’s early phases and instituted too few limitations on applicants. “In short, they say, the grift was just way too eas

Source: Written by Zdravko Ljubas, 2023-06-15; https://www.occrp.org/en/daily//en/daily/17744-us-billions-of-dollars-lost-in-covid-19-relief-fund-fraud

South Korea Sanctions North Korean-Sponsored Cybercrime Group “Kimsuky”

The sanctions are a direct response to North Korea’s threat of launching a long-range ballistic missile last week. Kimsuky has orchestrated these cyber thefts via a means known as “social engineering,” according to multiple U.S. and South Korean intelligence and law enforcement agencies. In the realm of cybersecurity, social engineering involves deceiving a target into having them unwittingly expose confidential or sensitive information for fraudulent purposes. Such cyber attacks have been specifically targeted towards stealing cutting-edge technologies pertaining to long- range weapon and satellite development.

Source: Written by Henry Pope, 2023-06-07; https://www.occrp.org/en/daily//en/daily/17721-south-korea-sanctions-north-korean-sponsored-cybercrime-group-kimsuky

Over 8,000 Lives Lost in the Brazilian Amazon in 2022

The rate of lethal violence in the Amazon surpasses that of the rest of the country by more than 50%. The tragic deaths of environmental activists Bruno Pereira and Dom Philips serve as a stark reminder of the dangers faced by those who strive to protect the Amazon. Pereira, an expert on Indigenous peoples, and Philips, a British journalist, were found dead in the remote Javari Valley. The area is characterized by the absence of state oversight in one of Brazil’s largest Indigenous territories, which spans an area larger than Austria.

Source: Written by Vinicius Madureira, 2023-06-10; https://www.occrp.org/en/daily//en/daily/17730-over-8-000-lives-lost-in-the-brazilian-amazon-in-2022

Government Corruption Exposed After Mexican Journalist Was Abducted

Journalist María Teresa Montaño became obsessed with using the State of Mexico’s online procurement database to track down smaller and quirkier contracts. She suspected many contracts were fake, especially those handed to obscure companies based hundreds of kilometers away from her state. At least 17 journalists were reportedly murdered last year alone in Mexico, where at least 17 people were killed in 2013, according to local media reports. In Mexico, exposing wrongdoing by government officials is not easy anywhere in the world, but it is often a matter of life and death.

Source: Written by OCCRP, 2023-06-03; https://www.occrp.org/en/daily//en/daily/17714-government-corruption-exposed-after-mexican-journalist-was-abducted

Cardano’s IOG Dismisses SEC’s Claim that ADA is a Security

The United States Securities and Exchange Commission is determining which crypto-assets are securities. Several altcoins, including Cardano (ADA), have been labeled as security by the SEC. Subsequently, Input Output Global (IOG) – the developing firm behind the Cardano ecosystem – released a statement dismissing SEC’s claims that ADA is a security. In a recently published , IOG said ADA is not a security under United States securities laws and has never been. The tech firm noted that the commission’s approach of regulating the asset class through enforcement “does not provide either the clarity or clarity needed”

Source: Chayanika Deka, 2023-06-10; https://cryptopotato.com/cardanos-iog-dismisses-secs-claim-that-ada-is-a-security/

Montenegrin Basic Court Reapproves Do Kwon’s $430K Bail Request

Do Kwon, the co-founder of Terraforms Labs and the collapsed Terra-Luna ecosystem, has received reapproval from the Basic Court of Podgorica. Kwon and Han Chong-Joon, his associate, will be released on $430,000 bail each and detained in an apartment to be monitored by the police. The new development comes less than two weeks after a high court granted prosecutors’ against the lower court’s decision to release Kwon.

Source: Mandy Williams, 2023-06-06; https://cryptopotato.com/montenegrin-basic-court-reapproves-do-kwons-430k-bail-request/

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