Report: Illegal crypto transactions in the UK amount to $5.1 billion per year
According to a report by the UK's National Crime Agency (NCA), illegal cryptocurrency transactions related to the UK are estimated to reach as high as $5.1 billion per year. The report states that international controllers of networks use various methods to provide money laundering services for criminals. This links the criminal proceeds generated in the UK with transnational network crimes and affects victims around the world. The NCA states that cryptocurrencies are increasingly being used to launder cash and other non-digital criminal proceeds, obtained through constantly evolving network crimes, including through malware and ransomware.
Today's Crypto Fear and Greed Index is 25 (yesterday was 27)
According to Alternative data, today's cryptocurrency panic and greed index is 25 (yesterday was 27), and market sentiment has entered extreme panic. Note: The panic index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market surveys (15%) + Bitcoin's proportion in the entire market (10%) + Google keyword analysis (10%).
CoinGecko: The biggest one-day drop in crypto market value so far this year is 8.4%
CoinGecko reported that the most severe market correction in the global cryptocurrency market over the past decade occurred on March 13th, 2020, due to the COVID-19 pandemic, resulting in a 39.6% drop. Massive selling caused the total cryptocurrency market value to plummet from $223.74 billion to $135.14 billion. In comparison, the largest cryptocurrency market sell-off this year so far was much smaller, at only -8.4%, occurring on March 20th, 2024. Similarly, although the recent four-day consecutive drop caused the total cryptocurrency market value to shrink from $2.44 trillion on August 2nd to $1.99 trillion on August 6th, these declines are not significant enough to be considered a market correction.<br>Due to global uncertainty, cryptocurrency investors fled risk assets overnight, with Bitcoin experiencing its biggest price drop on March 13th, 2020, at -35.2%, and Ethereum recording the second-largest price drop on the same day, at -43.1%. The second-largest cryptocurrency correction occurred on September 14th, 2017, when the total cryptocurrency market value experienced a -22.3% correction, dropping from $136.55 billion to $106.14 billion. This was consistent with Bitcoin's third-largest price drop of -20.2% on the same day. This correction occurred on the basis of relatively strong performance throughout the year, and both the cryptocurrency market and Bitcoin quickly recovered the next day, highlighting the high volatility of cryptocurrency.
Careers in Crypto: 5 Insights for 2024
In an overwhelming job market, leaning into personal networks and connections are more important than ever. Emily Landon, CEO of The Crypto Recruiters, outlines what is happening in the crypto job market and how you can position yourself or your company in 2024.
Crypto Needs to Radically Rethink Token Distribution
The prevailing “low float, high FDV” model can generate significant initial interest in project but benefits tend to disintegrate in the long-term, says Lava Network's Ethan Luc.
Crypto community slams WazirX’s 'socialized losses' plan after hack
As WazirX navigates this crisis, the firm faces the challenge of rebuilding trust with its user base and the broader crypto community.
The U.S. Department of Justice launches a whistleblower reward program to combat corporate crime, including crypto
On August 3, the US Department of Justice (DOJ) has launched a pilot program for corporate whistleblowers to encourage reporting of corporate criminal activity. The three-year program (effective August 1) targets financial institutions, including cryptocurrency companies, to strengthen investigations and prosecutions of corporate crimes. Whistleblowers who provide non-public information that leads to the seizure of more than $1 million are eligible for rewards.Qualifying illegal activities include money laundering, overseas corruption, domestic bribery, and healthcare fraud. The program is managed by the Criminal Division's Money Laundering and Asset Recovery Section and emphasizes the importance of robust corporate compliance programs. To be eligible for rewards, whistleblowers must provide truthful, voluntary, and complete information and fully cooperate with DOJ investigations. Companies that voluntarily self-disclose within 120 days of receiving an internal whistleblower report and take action before DOJ contact can receive a presumption of declination to prosecute under the Corporate Enforcement Policy.
Inscription Pizza FDV surpasses $100 million
As the price of Inscription PIZZA has risen to the $6 range, its FDV (fully diluted valuation) has also surpassed $100 million. Market data shows that at the time of writing this article, PIZZA's FDV reached approximately $122,355,876. In addition, the current price of PIZZA is about $5.81, with a 24-hour increase of 15.9%.
1,590 CoinStats crypto wallets ‘affected’ in security breach
Cryptocurrency portfolio manager CoinStats has assured users that the security breach has been “mitigated” and it will provide updates in due course.
This week, more than $30 million in crypto assets were stolen in a security incident, bringing the total loss to $85 million so far in June
According to CertiK Alert monitoring, various attacks in the encryption field this week have caused more than 30 million US dollars in assets to be stolen. This brings the total losses since early June to around 85 million US dollars. It is worth noting that the dual attack on the UwU Lend protocol resulted in a total loss of more than 22 million US dollars.
