Author: Crypto Insider

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,…

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…

Prices of Bitcoin and other cryptocurrencies are continuing their slide over the last two days, along with the stock market, as market analysts expect that the US Federal Reserve will raise interest rates soon to fight inflation. Bitcoin has slumped over 17% since December 27.   Bitcoin continues its slide Thursday after hawkish commentary from…

Nearly $41 billion worth of cryptocurrency was sent to NFT marketplaces and collections from the beginning of 2021 through mid-December, according to a new estimate from blockchain analytics firm Chainalysis. NFTs are now inching closer and closer in value to the traditional art market.   By the end of 2021, the marketplace for non-fungible tokens…