US Senators Call for Crackdown on North Korea's Use of Cryptocurrency to Fund Nuclear Program
Three US Senators, Elizabeth Warren, Tim Kaine, and Chris Van Hollen, have written a letter to the White House and Treasury Department urging them to take action against North Korea's use of cryptocurrency to fund its nuclear program and evade sanctions. The senators cited reports that North Korean hackers have stolen over $3 billion worth of crypto since 2018 to fund their missile program. The US Treasury Department has already added Tornado Cash to its list of sanctioned entities due to concerns over crypto being used to fund North Korea's nuclear program. Senator Warren has been a vocal advocate for cracking down on the illicit use of cryptocurrencies.
Bitcoin Loses Mojo After First-Half Rally Fails to Reignite Enthusiasm
Bitcoin has been experiencing a period of low volatility, with the cryptocurrency going eight trading sessions without a 1% move. This is the longest such stretch since January and is considered unusual for Bitcoin, which is known for its wild price swings. Trading volumes have also decreased during this time. Despite excitement in the crypto community about potential developments like a spot-Bitcoin ETF launch, Bitcoin's moves have remained muted. Other asset classes, such as stocks, have seen more pronounced movements. The overall volatility of Bitcoin and Ether over the past 180 days is at multi-year lows.
Mysterious Deposits of Shiba Inu Tokens Enrich Voyager's Wallet Despite Bankruptcy Status
The wallet of Voyager, a struggling U.S. crypto broker, received an unexpected deposit of 7.45 billion Shiba Inu tokens worth $60,754, followed by an additional deposit of SHIB tokens worth over $300,000. The source of these deposits was traced back to an intermediary address linked to Voyager and other large platforms like Coinbase, Robinhood, and Crypto Com. Speculations suggest that this intermediary address could be a crucial link between Voyager's main wallet and its users, as recent data shows ongoing activity with the transfer of 60 billion SHIB and 5 ETH tokens. Despite its bankruptcy status, Voyager's main wallet holds an impressive 1.4 trillion SHIB, 9,000 Ethereum tokens, and other coins with a combined value of $26.6 million.
Miami Mayor Francis Suarez Accepts Bitcoin Donations for Presidential Campaign
Miami Mayor Francis Suarez, who is known for his support of digital assets, has announced that his presidential campaign will now accept bitcoin donations. Suarez believes that bitcoin and other technologies can create opportunities for wealth creation that are not manipulated by human motives. He has already launched MiamiCoin and accepted his salary in bitcoin, and hopes to make Miami a hub for cryptocurrency. Suarez is running for the 2024 presidential election as a Republican, alongside high-profile candidates such as Donald Trump and Ron DeSantis.
Crypto Community in Limbo After Joe Biden's 'Laser Eyes' Campaign Video
Bitcoin maximalists have spotted a curious detail in a recent video posted by US President Joe Biden, which shows what appears to be a pair of laser eyes on his coffee cup. The laser eyes have become a sign of Bitcoin maximalists, a group of investors who believe that BTC is the only legitimate cryptocurrency. However, there is no evidence that Biden is a 'pro-bitcoin' character, and it is unclear whether the video campaign is any sort of endorsement for the leading cryptocurrency.
Major Corporations Embrace Cryptocurrency Payments, Including Tesla and Starbucks
The use of cryptocurrency has grown significantly in recent years, with many large companies adopting blockchain technology. While Bitcoin remains the most valuable and popular digital currency, other cryptocurrencies like Ethereum and Tether have also made an impact. This has resulted in more online platforms and physical stores accepting crypto payments, making transactions faster and more convenient for consumers.
WhiteBit Launches WB Network Blockchain to Promote Adoption of Blockchain Technologies
European centralized cryptocurrency exchange, WhiteBit, has launched its own blockchain, the WB Network, to promote the adoption of blockchain technologies. The network operates on the Proof-of-Authority consensus algorithm and uses the WhiteBit Coin as its underlying blockchain coin. It provides users with a transparent, user-owned infrastructure for faster cryptocurrency transactions and reduced user fees.
Hong Kong Lawmaker Hopes for Interconnectivity Between Digital Asset Platforms in Shanghai and Hong Kong
Hong Kong lawmaker Johnny Ng has expressed his desire to explore the possibility of interconnectivity between digital asset platforms in Hong Kong and Shanghai-based digital asset exchanges. Ng hopes for more cooperation between web3 industries in Hong Kong and Shanghai, and for licensed virtual asset trading exchanges in Hong Kong to be interconnected with Shanghai's exchanges in the future. He also hopes for more web3 talent exchanges between Hong Kong and the mainland. Despite China's ban on cryptocurrency transactions, Hong Kong has welcomed crypto firms and recently introduced a full licensing regime for virtual asset service providers.
Crypto victims offer hacker 10% bounty for return of stolen funds
Curve Finance and other victims of the recent lending reentrancy hack have offered the hackers a 10% reward in exchange for the return of their stolen cryptocurrency. The companies have assured the hackers that they will not face any legal consequences if they return the funds by August 6th. However, if the deadline is not met, the bounty will become a reward for anyone who provides information leading to the arrest and conviction of the hackers. The companies have also warned the hackers that they will pursue legal action against them if the deadline is not met. This is an ongoing story and will be updated as more information becomes available.
Bitcoin Whales Splurge Over $750,000,000 on Bitcoin in Just Three Months, Says Crypto Analytics Firm Santiment
According to market intelligence firm Santiment, wealthy investors have spent more than $750 million on Bitcoin in the last three months. Bitcoin millionaires and billionaires have been accumulating the cryptocurrency at a high rate since May, increasing their total amount of BTC owned to 11.5 million, which is over half of BTC's overall supply. The firm also notes that high-net-worth traders have been moving Wrapped Bitcoin (wBTC) out of crypto exchange platforms, resulting in a spike in on-chain transaction volume for wBTC. Bitcoin is currently trading at $29,280, with a slight decrease in the last 24 hours.
