Turkey’s economy remains in turmoil with inflation rising to 36%, and since this time last year, the country’s currency has lost 44% of its value against the US dollar. Meanwhile, the use of stablecoins in Turkey has skyrocketed, and today, 28.96% of all trades with Tether (USDT) are paired against the Turkish lira. Reports from…

Changpeng Zhao, CEO of Binance, also known as “CZ,” became the wealthiest crypto billionaire with an estimated net worth of $96 billion – and that’s without counting his personal crypto holdings. According to Bloomberg Billionaires Index, Changpeng Zhao ranks 11th among the world’s richest people as Binance retains its position as the biggest crypto exchange…

Pakistan’s Federal Investigation Agency (FIA) has uncovered a cryptocurrency investment scam that allegedly cost Pakistani citizens about 17.7 billion rupees (about $100 million). Over the last month, many people in Pakistan complained to the FIA against at least 11 mobile applications which had stopped working over some time and allegedly defrauded their money. The notice…

Future FinTech Group announced in Abu Dhabi the launch of FTFTX, the innovative global crypto market data platform that provides investors with real-time and reliable market data. The data is available for Bitcoin, Ethereum, EOS, Litecoin, TRON, and other cryptocurrencies via the website and FTFTX App on mobile devices. According to a press release, Future…

A new report from the analytics firm Chainalysis said that illicit addresses received a record $14 billion worth of crypto in 2021, which is more than 79% higher than the $7.8 billion stolen in 2020. On the other hand, the report said that crime is becoming a smaller and smaller part of the crypto ecosystem….

Breaking crypto news from the last week (Jan. 1 – 7, 2022):   Jan. 1: In India, the director-general GST Intelligence (DGGI) searched around half a dozen offices of cryptocurrency service providers following the 700 million rupees tax evasion from cryptocurrency trade. A local media report has confirmed that major Indian cryptocurrency service providers are…

Arbix Finance, a yield-farming protocol that runs on Binance Smart Chain, has reportedly siphoned user funds in what blockchain security firm CertiK labeled a “rug pull” following its incident analysis. The developments follow a recent report issued by Chainalysis, the blockchain analytics firm, revealing over $7.7 billion was stolen in crypto scams worldwide in 2021,…

Japan’s largest banks are preparing to start testing the digital yen, created by an independent consortium of developers. If the project were to succeed, Japan would become the first to issue a “real” nationwide cryptocurrency “on a voluntary basis.” In Japan, a consortium of the country’s 74 largest companies announced the release and subsequent trials…

Analysts at JPMorgan led by Nikolaos Panigirtzoglou have suggested that Ethereum, the second-largest cryptocurrency by market cap, could see its dominance in the decentralized finance (DeFi) space fade to rivals.   According to Bloomberg, the analysts revealed that until the final phase of sharding, which they described as the “most critical” development for scaling Ethereum,…

Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Zach Pandl, the co-head of global foreign exchange, rates, and emerging market strategy for Goldman Sachs, said in a research note to clients. “We think that Bitcoin’s market share will most likely rise over time as a byproduct…