South Korea reports first crypto ‘pump and dump’ case under new law
South Korean authorities have indicted suspects for unfair crypto trading involving artificial price inflation and subsequent token dumping, known as a pump and dump.
Illicit crypto volumes likely $51B in 2024, but overall share falls: Chainalysis
In 2024, the world of cryptocurrency was rocked by a staggering $41 billion in illicit activity. This alarming number, reported by Chainalysis, highlights the ongoing issue of criminal involvement in the crypto market. However, this may just be the tip of the iceberg as the company predicts that this number could rise to $51 billion as more criminal-tied addresses are uncovered.
The rise of cryptocurrency has brought about many benefits, such as decentralization and increased financial freedom. However, it has also attracted the attention of criminals who see it as an opportunity to launder money and engage in other illegal activities. This has been a growing concern for regulators and law enforcement agencies, who have been working to crack down on these illicit activities.
Chainalysis, a blockchain analysis company, has been at the forefront of tracking and monitoring crypto transactions to identify any suspicious or criminal behavior. Their latest report reveals that in 2024, there was a significant increase in illicit crypto volume, reaching a staggering $41 billion. This is a 41% increase from the previous year, highlighting the growing trend of criminal involvement in the crypto market.
But the situation may be even more dire than initially thought. Chainalysis predicts that the amount of illicit crypto volume could reach $51 billion as more criminal-tied addresses are discovered. This is a concerning trend that needs to be addressed by the crypto community and regulators alike.
While the crypto market offers many benefits, it is crucial to address the issue of criminal involvement to ensure its long-term sustainability. This can be achieved through increased regulation and collaboration between law enforcement agencies and blockchain analysis companies like Chainalysis.
In conclusion, the rise of illicit crypto volume is a concerning issue that needs to be addressed. As the market continues to grow, it is crucial to implement measures to prevent and deter criminal activity. Only then can we ensure a safe and sustainable future for the world of cryptocurrency.
Solana DApp volumes shed 10%, but a rally to $230 is still possible
Solana, a high-performance blockchain platform, has been making waves in the cryptocurrency world with its impressive lead over its competitors and strong inflows. Despite a recent 10% drop in DApp activity on the network, Solana’s bullish momentum shows no signs of slowing down.
One of the key factors contributing to Solana’s success is its lightning-fast transaction speed. With a processing time of just 0.4 seconds, Solana outperforms other major blockchains like Ethereum and Bitcoin, which can take minutes or even hours to confirm transactions. This speed and efficiency make Solana an attractive option for developers and users alike, as it allows for a seamless and hassle-free experience.
In addition to its speed, Solana also boasts a highly scalable network, capable of handling thousands of transactions per second. This scalability is crucial for the growth and adoption of decentralized applications (DApps) on the platform, as it ensures that the network can handle increased usage without compromising its performance.
But it’s not just the technical capabilities of Solana that have investors and developers excited. The platform has also seen a significant increase in inflows, with more and more investors pouring money into the project. This influx of capital not only demonstrates confidence in Solana’s potential but also provides the necessary resources for the platform to continue its growth and development.
Despite a recent dip in DApp activity, Solana’s overall performance and strong fundamentals suggest that the platform is well-positioned for future success. With its impressive speed, scalability, and growing support, Solana is proving to be a formidable player in the blockchain space. As the world continues to embrace decentralized technologies, Solana is poised to play a significant role in shaping the future of finance and technology.
Bitcoin ‘power of 3’ setup targets $103K by President-elect Trump’s inauguration day
A “power of 3” pattern popped up on Bitcoin’s chart, suggesting that prices above $100,000 will occur before President-elect Trump takes office.
Sigma Capital’s $100M fund plans to invest in 100 Web3 projects
The Dubai-based venture capital firm said it plans to invest in 100 early-stage Web3 projects, 25 liquid tokens and 10 fund-of-fund allocations.
US Senate Banking Committee chair says crypto framework will be a priority
With a Republican majority having taken control of the US Senate in January, Tim Scott said the Banking Committee would have an “open-minded environment” for digital assets.
Hong Kong court serves tokenized legal notice to illicit Tron wallets
Hong Kong is taking a unique approach to combatting crypto theft by using tokenized legal notices. These notices are specifically targeting anonymous crypto wallets that are believed to contain stolen assets.
The use of tokenized legal notices is a new and innovative strategy that Hong Kong is implementing in order to recover stolen assets from the crypto world. These notices are essentially digital tokens that represent a legal claim against the assets held in the targeted wallets. By issuing these tokens, Hong Kong is able to establish a legal claim on the assets and potentially recover them.
This approach is particularly effective in targeting anonymous wallets, as it allows authorities to bypass the need for identifying the owners of the wallets. In the past, recovering stolen crypto assets has been a difficult and time-consuming process due to the anonymity of the wallets. However, with the use of tokenized legal notices, Hong Kong is able to directly target the assets without needing to identify the owners.
This move by Hong Kong is a significant step towards combating crypto theft and protecting investors. With the increasing popularity and value of cryptocurrencies, the risk of theft has also risen. By implementing this new strategy, Hong Kong is sending a strong message to potential thieves that they will not get away with their crimes.
The use of tokenized legal notices also highlights the potential of blockchain technology in the legal sector. By utilizing blockchain, these notices are able to be securely issued and tracked, ensuring that the legal claims are valid and cannot be tampered with.
Overall, Hong Kong’s use of tokenized legal notices is a promising development in the fight against crypto theft. It not only provides a more efficient and effective way to recover stolen assets, but also showcases the potential of blockchain technology in the legal world.
CFTC mulling probe of Crypto.com over Super Bowl contracts: Report
The Commodity Futures Trading Commission (CFTC) is reportedly looking into the legality of sports betting event contracts offered by Crypto.com, just weeks before the highly anticipated Super Bowl match. According to Bloomberg, the CFTC is considering launching an investigation into the popular cryptocurrency platform’s sports betting offerings.
This news comes at a time when the cryptocurrency industry is facing increased scrutiny from regulatory bodies. With the recent surge in popularity and value of cryptocurrencies, regulators are taking a closer look at how these digital assets are being used and traded.
The CFTC, which is responsible for regulating the futures and options markets in the United States, is particularly interested in Crypto.com’s sports betting event contracts. These contracts allow users to bet on the outcome of sporting events using cryptocurrency, rather than traditional fiat currency.
While the use of cryptocurrency in sports betting is not new, it has gained more attention in recent years as the popularity of both industries continues to grow. However, the legality of these types of contracts is still a grey area, and the CFTC’s potential investigation could shed more light on the matter.
Crypto.com, a leading cryptocurrency platform, has been expanding its offerings beyond just trading and investing in digital assets. The company has been actively promoting its sports betting event contracts, particularly in the lead up to the Super Bowl, which is one of the biggest sporting events in the world.
As the CFTC considers launching a probe into Crypto.com’s sports betting contracts, the cryptocurrency industry will be closely watching to see how this could impact the future of using digital assets in the world of sports betting. With the growing popularity of both industries, it is crucial for regulators to carefully examine and regulate these types of offerings to ensure the protection of consumers and the integrity of the markets.
BitPay processed 600K crypto transactions in 2024 led by LTC, BTC, ETH
Litecoin, Bitcoin, and Ether are three of the most popular cryptocurrencies in the world. These digital currencies have gained immense popularity in recent years, with more and more people investing in them. One of the main reasons for their popularity is the high number of transactions they see on a daily basis.
According to recent data, Litecoin has emerged as the leader in terms of the number of transactions. This comes as no surprise, as Litecoin has been consistently performing well in the market. In fact, it has been one of the top-performing cryptocurrencies in the past few years. Its fast transaction speed and low fees make it a preferred choice for many users.
Following closely behind Litecoin is Bitcoin, the first and most well-known cryptocurrency. Despite its high transaction fees and slower processing time, Bitcoin remains a popular choice for investors and traders. Its value has also been steadily increasing, making it a lucrative investment option.
In third place is Ether, the native cryptocurrency of the Ethereum blockchain. Ether has gained a lot of attention in recent years due to its use in decentralized applications (DApps) and smart contracts. Its transaction volume has also been steadily increasing, making it a strong contender in the cryptocurrency market.
The high number of transactions for these three cryptocurrencies is a testament to their growing adoption and usage. As more and more merchants and businesses start accepting them as a form of payment, their transaction volume is only expected to increase further.
Moreover, the increasing number of transactions also reflects the growing interest and trust in cryptocurrencies as a whole. With the rise of decentralized finance (DeFi) and the potential for blockchain technology to revolutionize various industries, it is no surprise that more people are turning to cryptocurrencies as a viable investment option.
In conclusion, Litecoin, Bitcoin, and Ether continue to dominate the cryptocurrency market, with Litecoin leading the way in terms of transaction volume. As the world becomes more familiar with and accepting of cryptocurrencies, we can expect to see even more impressive numbers in the future.
Uniswap Labs to integrate API with Ledger Live for DeFi swaps
Uniswap is set to integrate with Ledger Live, enabling token swaps directly via self-custody wallets and introducing clear signing for secure DeFi transactions.