Rushing ‘token mapping’ could hurt Aussie crypto space — Fintech founder

Australian crypto entrepreneur and investor Fred Schebesta has described the Australian government’s prioritization of token mapping as “wonderful,” but warns that rushing it could lead to detrimental effects on the economy. Schebesta’s comments come after Australian Treasurer Jim Chalmers released a statement on Aug. 22 stating that the “treasury will prioritize token mapping work” in 2022 to show how “crypto assets and related services should be regulated.” Speaking to Cointelegraph, Schebesta believes Australia already has a “fledgling” crypto industry but needs to “align with the other major markets and their…

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Here’s how OpenSea NFT hacks hurt owners, buyers and even entire collections

The non-fungible token (NFT) market has been booming since the summer of 2021 and as NFT prices were sky-rocketing, the number of hacks targeting NFTs were also increasing.  The most recent high-profile hack siphoned approximately 600 Ether worth of NFTs from Arthur0x, the founder of DeFiance Capital, and they were sold off on OpenSea. A 2022 Crypto Crime Report published by Chainalysis highlighted that the value sent to NFT marketplaces by illicit addresses jumped significantly in 2021, topping out at just under $1.4 million. There is also a clear increase…

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Success in DEX? Fast-growing crypto exchanges may hurt DeFi investors

With the rise of various meme-coins over the last year or so, a whole host of decentralized exchanges (DEXs) have continued to emerge and accrue massive sums of liquidity seemingly overnight. As a result, a number of security firms have started to call into question over the recent weeks regarding the overall security and transparency of these platforms. For example, DEX ShibaSwap, which has been able to capitalize on the budding popularity of the style of Dogecoin (DOGE) with native token Shiba Inu (SHIB), was recently able to accrue a…

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China’s CBDC may hurt Macau’s casinos

China’s central bank digital currency is expected to further exacerbate Macau’s declining gambling revenues. According to a Dec. 2 article from Bloomberg, junkets — Macau businesses that act as middlemen to facilitate visits by China’s high-roller gamblers — claim their clients are looking to other jurisdictions due to concerns the digital yuan will be introduced to Macau’s embattled gambling sector. The report cites anonymous sources who claim local casino operators have been approached by Macau’s Gaming Inspection and Coordination Bureau to discuss the viability of denominating casino chip purchases in…

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Key Reasons Why This Latest Selloff Hasn’t Hurt Bitcoin’s Bull Case

Bitcoin saw a notable selloff today that struck a heavy blow to the cryptocurrency’s technical outlook. This decline sent it down to its range lows of $11,100 that have been tested on multiple occasions throughout the past few weeks. This level has continued acting as strong support for the benchmark digital asset. Analysts are now noting that the reaction BTC continues posting as it trades just a few percent above this level should offer significant insight into its near-term trend. Despite its overt weakness, one trader is pointing to a…

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Secretive Chinese Bitcoin Mining Company Just Revealed A New Chip That Could Hurt AMD, Nvidia | CNBC

China-based Bitmain on Tuesday announced its specialized digital currency mining system for ethereum. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC Secretive Chinese Bitcoin Mining Company…

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