Crypto News Jan 13 2022

  1.  Crypto firm assures FIA of cooperation in Rs17.7 bn scam

 International cryptocurrency exchange Binance on Tuesday assured the Federal Investigation Agency (FIA) of complete cooperation in a probe regarding Rs17.7 billion scam, Geo News reported. According to a statement issued in this regard, FIA Cybercrime Sindh Head Imran Riaz confirmed that Binance has contacted the FIA, first via a phone call, and later by sending an official e-mail, assuring them of their cooperation in the investigation related to the fraud. It is pertinent to mention here that the FIA had detected an online fraud of $100 million (Rs17.7 billion) related to cryptocurrency and issued notice to the local representative of Binance to appear in person on January 10.

A historically reliable blockchain indicator suggests bitcoin maybe in the final stages of a bearish trend, having lost nearly 40% of its value in the past two months. The area under $250,000 has marked major price bottoms in the past, as seen in the featured image provided by data analytics firm Glassnode. The entity-adjusted dormancy flow, a ratio of cryptocurrency’s going market value to the annualized dollar value of coin dormancy, has dropped below $250,000. Dormancy refers to the average number of days each coin transacted remained dormant or unmoved – a gauge of market’s spending pattern.

Kim Kardashian and Floyd Mayweather are being sued over allegations they misled investors when promoting a little-known cryptocurrency called EthereumMax to their millions of social media followers. Kardashian caused a stir last year when she made an Instagram post promoting the EthereumMax token. “Are you guys into crypto????” Kardashian wrote. “This is not financial advice but sharing what my friends just told me about the Ethereum Max token!” A class action lawsuit filed last Friday in the U.S. District Court for the Central District of California accuses EthereumMax and its celebrity promoters of working together to artificially inflate the price of the token by making “false or misleading statements” in social media posts.

2TM, the holding company for Mercado Bitcoin, Brazil’s largest crypto exchange by market value, has agreed to acquire a controlling stake in CriptoLoja, Portugal’s first regulated crypto exchange. Pedro Borges and Luis Gomes, founders of CriptoLoja, will remain in charge of the company while also managing 2TM’s expansion in Europe, the company added. The acquisition, which is step one in 2TM’s plans to expand into Europe, still needs approval from Portugal’s Central Bank, 2TM told CoinDesk in a written statement, although the company expects that to occur “within the next couple of months.”

Investments related to cryptocurrencies and digital assets are the top threat to investors “by far,” according to new data from the North American Securities Administrators Association (NASAA). The annual survey of North American securities regulators urged investors to exercise caution before purchasing popular and volatile unregulated investments, especially those involving cryptocurrency and digital assets. The report stated that digital assets “do not fall neatly into the existing investor regulatory framework,” so it may be easier for promoters of these products “to fleece the public.”

Alireza Peyman-Pak, Iran’s deputy minister of Industry, Mine and Trade and head of Iran’s Trade Promotion Organization, or TPO, said that the new payment mechanism is expected to be finalized “within the next two weeks.” The Central Bank of Iran, or CBI, and the Ministry of Trade have reached an agreement to link the CBI’s payment platform to a trade system allowing businesses to settle payments using cryptocurrencies, the Mehr News Agency reported Monday. The Iranian government is reportedly preparing a mechanism to enable the use of cryptocurrencies in international trade.

The Federal Reserve’s highly anticipated report on cryptocurrencies and central bank digital currencies (CBDCs) – initially slated to come out last September – will be released “within weeks,” Fed Chairman Jerome Powell told a U.S. Senate committee on Tuesday. Powell, who was nominated for a second term as Fed chairman by President Joe Biden, was asked about the timing of the report by Sen. Mike Crapo (R-Idaho) during his confirmation hearing in front of the Senate Banking Committee. Powell’s testimony echoes similar remarks he made at a Senate hearing in November, when he promised the release of the report in “coming weeks.”

“BBTV” or the “Company”, the leading creator monetization company with a mission to help creators become more successful, today announced the launch of its Pay To Crypto solution to pay creators at scale in cryptocurrencies. To the Company’s knowledge, Pay To Crypto is the first offering of its kind to enable payments in cryptocurrencies at scale to content creators. Pay To Crypto is a new premium payment solution for creators that enables them to receive their earnings in a range of popular cryptocurrencies, including Bitcoin, Ethereum and USD Stablecoin. BBTV content creators simply provide a compatible crypto wallet address and select their cryptocurrency of choice, and BBTV pays directly to their crypto wallet.

Concordium, the layer 1 blockchain with an ID layer at the protocol level, has announced its sponsorship and backing of a new crypto-focused news channel: Crypto Channel Direct. Concordium has come on as a key sponsor of the show and hopes to see it grow into a powerful and reputable news source, something that is much needed in the current space. Crypto Channel Direct (CCD) is an independent and impartial Youtube-based news show that will cover news and information from around the crypto sphere on a weekly basis with plans to ramp up productions in the future.]

  1.  Public adds Loopring and Curve DAO to its cryptocurrency platform to make a total of 27 tokens available for trading

Trading app Public added two new tokens to its cryptocurrency trading platform, offering Loopring and Curve DAO for trading to bring the the total number of tokens available on the app to 27. Public added crypto trading in October and has since expanded its offerings several times. Loopring, a layer two ethereum-based token, has been rumored among avid GameStop fans as a possible partner for the company’s NFT marketplace. Though the token has dropped in price in the last month, according to Coinbase data, it’s up nearly five-fold over the last 12 months.