More Than 4M Sweatcoin Crypto Wallets Created Since the Launch of SWEAT Token in April

SWEAT crypto token was launched on April 12, 2020 and it has seen the creation of over 4 million sweat crypto wallets through mobile applications since it was launched. This total number of wallets represents an allocation of over 860 million sweatcoins. These sweatcoins will be matched with SWEAT at the token generation event in July. The concept behind Sweatcoin’s new ‘move-to-earn’ crypto token is unique as it allows users to mine the token by tracking their steps and movements on their smartphones. A London-based tech company shared its view…

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Stepn, A ‘Move-To-Earn’ Application Suffers Cyber Attack After Upgrade

Stepn, a “move-to-earn” application hosted on the Solana blockchain, suffered multiple distributed denial of service (DDOS) attacks after the cryptocurrency outfit updated its system. Stepn, known for giving users cryptocurrency rewards for walking or jogging, recommended that its users “get some rest” while it worked to secure its servers and recover from the various attacks. The outage now experienced by Stepn holders follows an “anti-cheating” upgrade made on the network on June 3. This upgrade aimed to eliminate bots from the platform and prevent rewards from being obtained through the…

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Information, AML/CFT steps are key to fighting international digital crime, DOJ report says

The United States Department of Justice (DOJ) released a report on international law enforcement related to digital assets Tuesday. It is the first of the approximately one dozen reports mandated in President Joe Biden’s March 9 executive order “Ensuring Responsible Development of Digital Assets.” The report, titled “How To Strengthen International Law Enforcement Cooperation For Detecting, Investigating, And Prosecuting Criminal Activity Related To Digital Assets,” was written with the collaboration of Departments of State, Treasury and Homeland Security, as well as the Securities and Exchange Commission (SEC) and Commodity Futures…

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Traders target $1,400 Ethereum price after ETH drops closer to a critical support level

On June 8 the Ethereum network successfully underwent the merge to become proof-of-stake on its Ropsten testnet, but the news had little impact on ETH price.  With the Ropsten upgrade now looking more like a buy the rumor, sell the news type of event, most analysts have kept a short-term bearish outlook for Ether price. Let’s take a look. ETH/USDT 1-day chart. Source: TradingView Can Ether escape the head and shoulders pattern? Twitter analyst, “Cactus”pointed out a bearish head and shoulders pattern and questioned whether Ether price would be able to follow the sharp…

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Digital assets still make a lot of sense, says Codex co-founder

Co-founder and chief evangelist officer for Codex, Alex Gordon-Brander, spoke to Cointelegraph about his Bitcoin story, the real-world use cases for crypto, and the economic downturn during a World Economic Forum interview in Davos, Switzerland.  Standing curbside in front of Davos’ “Crypto House” at dusk, where Gordon-Brander had just finished demonstrating Codex’s capabilities during a crypto panel, the co-founder shared an upbeat outlook on crypto. A long-serving crypto enthusiast and trad-fi veteran, Gordon-Brander told Cointelegraph he was exploring digital and energy-backed currencies prior to discovering Bitcoin (BTC). He researched a…

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New York state releases guidance for issuing dollar-backed stablecoins

The New York State Department of Financial Services (DFS) on Wednesday released regulatory guidance for U.S. dollar-backed stablecoins issued by DFS-regulated entities. According to a DFS statement, it is the first regulator in the United States to impose such expectations on a stablecoin issuer. The requirements in the guidance concern redeemability, reserves and attestation. They state that a stablecoin must be fully backed by reserves as of the end of every business day and the issuer must have a redemption policy approved in advance in writing by the DFS that gives…

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Bitcoin bears have plenty of reasons to hold BTC price below $32,000

Since May 10, the Bitcoin (BTC) chart shows a relatively tight range of price movement and the cryptocurrency has failed to break the $32,000 resistance on multiple occasions. BTC-USD 12-hour price at Coinbase. Source: TradingView The choppy trading partially reflects the uncertainty of the stock market as the S&P 500 Index ranged from 3,900 to 4,180 in the same period. On one side, there has been economic growth in the Eurozone where the gross domestic product grew 5.1% year over year. On the other, inflation continues to soar, reaching 9%…

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‘Data DAO’ Delphia raises $60M Series A led by Multicoin Capital

Algo-adviser startup Delphia has closed a $60 million investment round backed by some of crypto’s biggest venture funds as it embarks on the creation of a new data-focused decentralized autonomous organization (DAO).  The Series A was led by crypto-focused venture firm Multicoin Capital, with additional participation from Ribbit Capital, FTX Ventures, Valor Equity Partners, FJ Labs, Lattice Ventures and Cumberland. Delphia will use the funds to launch a new rewards token as well as expand the ways users can contribute data to algorithmic models, which will be used to enhance…

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BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin (BTC) continues to trade in a range with the local tops and bottoms coinciding with increased whale activity in the region, according to on-chain analytics resource Whalemap. The range-bound action in Bitcoin has kept the analysts guessing and a few expect the consolidation to continue for some more time, while others anticipate another leg lower. A June 6 Glassnode report said that the aggregated realized losses from long-term holders reflected more than 0.006% of the market capitalization on May 29. This is in comparison to the peak of 0.015%…

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Despite bearish trend, hedge funds are dipping their toes in crypto: PwC

Traditional hedge funds are slowly embracing cryptocurrency investments but are keeping their exposure limited as the market continues to mature, according to new research from PricewaterhouseCoopers, or PwC. In its 4th Annual Global Crypto Hedge Fund Report 2022, PwC said roughly one-third of traditional hedge funds surveyed are already investing in digital assets such as Bitcoin (BTC). So-called “multi-strategy” hedge funds were most likely to invest, followed by macro strategy and equity strategy firms, respectively. Of the hedge funds currently invested in the crypto space, 57% have allocated less than…

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