Lego and Disney veteran joins digital collectibles platform Terra Virtua

Digital collectibles platform Terra Virtua has tapped branding veteran Pierre Dadd to lead its marketing division, offering yet another example of a high-profile executive transitioning to a blockchain company. Dadd has been hired for the position of marketing director, Terra Virtua announced Wednesday. Dadd has over 20 years of experience in marketing and brand development, making him a strong candidate to spearhead Terra Virtua’s marketing efforts. Dadd’s LinkedIn profile suggests he has been involved with the company since at least April. Prior to accepting the position, he headed his own…

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New OCC head requests review of cryptocurrency rules

The United States’ banking regulator, the Office of the Comptroller of the Currency, is set to review cryptocurrency-related rulemaking following Brian Brooks’ departure.  Michael Hsu, the newly-appointed Acting Comptroller of the Currency, has requested a staff review of former OCC rulemaking regarding the crypto industry as part of his testimony before the House Financial Services Committee on Wednesday. In prepared remarks, Hsu asked the OCC staff to review its cryptocurrency-related actions like updating the framework for chartering national banks and trust companies, interpreting crypto custody services as part of the…

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Nearly a quarter of unique Bitcoin wallets at a loss amid $15K price dump

Bitcoin (BTC) is down almost 30% in the last seven days and this dip has triggered an almost commensurate plunge in the percentage of wallets in profit. Data from crypto data provider Glassnode shows that Bitcoin price drawdown has led to almost a quarter of unique on-chain entities being at a loss. This situation also bears some parallels to previous extreme downside price action periods that interrupted bullish advances. Source: Glassnode During the Black Thursday crash of March 2020, unique on-chain entities at a loss also approached the 25% mark…

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Bitcoin $5K ‘kimchi premium’ returns while gold prices surge in Korea

Bitcoin (BTC) was trading at $5,000 higher in South Korea than in other markets on Wednesday as capital flow controls continue to enforce the “kimchi premium.” While Bitcoin was trading at $39,932 on Coinbase at the time of publication, the price on the Korea-based Bithumb exchange stood at $45,115. According to a recent Bank of America statement, the kimchi premium is a result of capital flow controls aimed at stopping the cross-border transfer of “hot money,” reports Reuters. “The onshore price for cryptocurrencies in Korea is persistently above international prices…

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New bill would require candidates in Russian elections to declare crypto

Russia’s State Duma has approved a new draft bill in its first reading that would require election candidates to disclose their crypto holdings, expenditures and purchases. The draft bill also asks election candidates to indicate a source of income for cryptocurrency purchases and requires crypto declarations not only from the actual candidates, but also their spouses and minor children for the past three years. Introduced in March 2021, the draft bill includes a set of amendments to existing Russian law like those on presidential and State Duma deputy elections, guarantees…

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Inner Mongolia sets up hotline to report suspected crypto miners

A new announcement from the  Inner Mongolia Autonomous Region Development and Reform Commission, or DRC, has informed the public that they now have a direct way to report on any outlying cryptocurrency operations in the region. As previously reported, Inner Mongolia was once home to a vast network of crypto mining operators, who collectively accounted for 7.71% of the global Bitcoin (BTC) hash rate between Sept. 2019 and April 2020. As part of Beijing’s increasingly proactive and ambitious agenda to reduce carbon emissions, Chinese authorities have increasingly scrutinized the coal-rich region…

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Bitcoin price dip below $40K costs Tesla nearly 100% of its BTC profits

Bitcoin (BTC) fell below $40,000 on May 19 as bearish sentiment continued to dictate price direction resulting in the cryptocurrency market losing $350 billion in value. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Analysts calm as BTC/USD hits 15-week lows Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it put in lows of $38,500 before bouncing higher. Coming after a week of successive drops, Wednesday’s dip put Bitcoin at its lowest level since early February and 40% below its all-time highs. “Bitcoin putting in new lows, probably buy more…

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More than half of Australians think Elon Musk invented Bitcoin: Survey

Australians’ knowledge of cryptocurrency could use some improvement, as more than half of them think that Elon Musk created Bitcoin (BTC), according to a new survey. Finder, Australia’s most visited comparison website, conducted a survey of 1,004 Australians to find out more about what they know about crypto, The Australian reports Wednesday. According to the survey results, 56% of Australians are not aware of mysterious Bitcoin creator Satoshi Nakamoto, believing that Tesla CEO and SpaceX founder Musk is the founder of the world’s largest cryptocurrency. A significant number of respondents…

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Earn NFTs watching TV, DAO pays $1M for Aoki and 3LAU track … and more

Blockchain-based streaming service Sator has developed a decentralized app that will enable users to earn NFTs, tokens and “other rewards” by watching TV and playing games. While details are sparse on the exact amount of rewards users can receive, according to the website, NFTs awarded will be directly tied to amount of shows watched, and time spent engaging with puzzles and TV trivia on the app. Sator CEO Isla Perfito said the firm has created: “An easy and powerful solution for TV producers to turnkey deliver a unique NFT experience…

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Indian government is rethinking crypto ban: The Economic Times

Reports are emerging that India’s government may be reconsidering its stance on cryptocurrencies with the formation of a new regulatory panel. A May 19 report in the Economic Times, cited three sources privy to discussion on the formation of a fresh panel of experts with a view to regulating cryptocurrency trading in India. The move comes amid increasing support for overturning recommendations made by a committee led by former finance secretary Subhash Garg in 2019 for a blanket ban on crypto assets on the grounds they have become outdated. The…

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