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Money laundering in Russia may include converting illicitly obtained bitcoin into fiat, after a drug dealer’s case led to a disagreement in the law from the nation’s Supreme Court. As reported by the Russia n Legal Information Agency (RAPSI), the Supreme Court of the Russia n Federation’s decision to overturn a defendant’s acquittal marks the first case of money laundering via Crypto currency.  The defendant was initially arrested after reportedly storing large quantities of drug precursors and producing mephedrone on a large scale. He sold drugs for bitcoin and converted his crypto into 8 million rubles ($91,000) in total, and sent the funds to his roommate’s daughter’s bank accounts. In his initial court case, the defendant was found guilty of drug trafficking but was acquitted on charges of money laundering. The court decided that since the bitcoin never ‘entered circulation,’ the money laundering charge couldn’t stick. Prose...

Furucombo deploys on Metis to enable users to create and optimize ecosystem DeFi strategies. Furucombo’s drag-and-drop interface simplifies the use of complex DeFi protocols. Its EVM -equivalent Ethereum Layer-2 scaling solution has taken another step toward making DeFi and Web3 more accessible, adding the Furucombo protocol to its ecosystem. In addition, Furucombo is a multi-chain DeFi aggregator designed to simplify, optimize, and automate DeFi trading. Its deployment will enable users to create personalized DeFi ecosystem strategies and earn fees for their usage, with no coding knowledge required. Furucombo makes this possible with its unique approach to DeFi, visualizing complex DeFi transactions into “cubes” akin to DeFi Lego blocks. Users then only have to set up inputs/outputs and the order of the cubes. Furucombo bundles the cubes into a single transaction and sends it out. This building-blocks setup called a “combo, ” allows users to perform transactions using Uniswap, Aa...

Tapio Incentivized Testnet Launched! Tapio Finance is on Ethereum’s Goerli network and is live. The testnet will run for 30 days till July 26th 00:00 UTC.  As a user, you’ll be able to complete a checklist of tasks, both on-chain and off-chain, and receive rewards, including eligibility for a $TAPIO airdrop once the token and governance go live on the Mainnet. Security and resilience are the number 1 priority when it comes to building the middle layer for LST liquidity, and a testnet deployment is merely one avenue of ensuring we’re road-tested before going live on Mainnet. As such, Tapio Finance will have the following features completely functional: Mint tapETH: Deposit Goerli ETH, Goerli stETH or Goerli rETH into Tapio Finance’s pools, thereby minting tapETH in the process. Swap: Easily swap between Goerli ETH, Goerli stETH or Goerli rETH with low slippage and excellent exchange rates. Redeem tapETH: Redeem your tapETH for any combination of either Goerli ETH, Goerli stETH or Goerli...

The first leveraged bitcoin futures ETF in the United States experienced higher-than-average trading volumes on its first day, although it fell short in comparison to the milestone bitcoin futures ETF launched in 2021. Volatility Shares’ 2x Bitcoin Strategy ETF (BITX) began trading on the Cboe BZX Exchange on Tuesday. It saw day-one trading volumes of roughly $5.5 million, according to data by FactSet.  In terms of day-one volume, the launch ranked 30th of the 195 ETFs so far introduced in 2023, the data indicates. This year, the iShares Climate Conscious & Transition MSCI USA ETF (USCL) and the Xtrackers MSCI USA Climate Action Equity ETF (USCA) emerged as the top performers, with both surpassing $2 billion in opening-day trade volumes. These funds stood out as outliers, as no other ETFs this year have managed to reach $100 million. Despite BITX’s relatively high ranking, its initial volumes were about 0.5% of those seen by the first US ETF to hold bitcoin futures contracts ...

Join Our Telegram channel to stay up to date on breaking news coverage Following the Bitcoin spot exchange-traded fund (ETF) filing frenzy of the past week, market experts are now assessing the chances of the US Securities and Exchange Commission (SEC) giving a green light to the venture. Bloomberg’s top analyst believes that asset management firm BlackRock has a 50% chance of getting what it wants. Grayscale’s Chances Playing to BlackRock’s Success In a June 27 tweet, Bloomberg’s senior market analyst Eric Balchunas tweeted that BlackRock has an even chance of getting its Bitcoin spot ETF filing approved by the US SEC. Balchunas attributed the probability to insights from his colleague regarding Grayscale, another prominent asset management firm. Another reason we give spot bitcoin ETF approval 50% chance is our senior legal analyst @NYCStein gives Grayscale a 70% chance of winning case against SEC, who could approve BlackRock's ETF as way to sav...

Also Read: XRP Bulls Coming In Signals On-Chain Data advertisement SEC To Wave Green Flag For Bitcoin ETF? The US SEC has been on a spree of rejecting applications around spot Bitcoin ETF mentioning the risk of fraud and manipulation in the market. However, the commission only allowed ETFs based on Bitcoin futures contracts to operate in the market. A wave of agreement can be seen among the market experts that BlackRock might succeed this time. It is expected that the US SEC is more likely to give a green light to the application as its concerns have been largely addressed. However, this move can prove to be massive good news for the crypto industry leading it to recover from recent losses. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

Which age group owns the most crypto? We’ve analyzed the latest studies on cryptocurrency adoption to explore the ownership trends among different generations . Millennial dominance in crypto adoption Millennials seem to have the highest ownership rates among all generations. They are the dominant group of crypto enthusiasts, accounting for 46% of the respondents, the study by Bitget, a crypto derivative and copy trading platform, shows. The company analyzed over 255,000 survey responses from 26 countries between July 2022 and January 2023. They categorized participants into four age groups: baby boomers (born pre-1964), Gen Xers (born 1965-1980), millennials (born 1981-1996), and Gen Z (born post-1997).  Millennials and Gen Z have the highest crypto ownership rates | Source: Bitget The Bitget study also suggests millennials and Gen Z individuals are more favorable towards cryptocurrencies due to their familiarity with the internet and digital technologies. Growing up in ...

Join Our Telegram channel to stay up to date on breaking news coverage Block.One, the blockchain company behind EOS, wants to launch a decentralised ex change (DEX) platform named Bullish Global (BG.) The ex change is expected to be ready to go later this year. Block.One Exchange Receives $10Billion Backing for Bullish Global So far, the Block.One ex change has a war chest of $10 billion in cash and digital assets. The venture has significant backing from prominent crypto luminaries, such as billionaires Peter Thiel, Louis Bacon, and Alan Howard. Other notable investors backing the upcoming DEX platform are crypto stalwarts Mike Novogratz, German financier Christian Nagermayer, Richard Li, and Japanese investment bank Nomura. According to company statements, Bullish Global is focused on developing the decentralised finance (DeFi) far beyond its current position, which is already highly innovative. BG will provide automated market making, lending, and portfolio management ...

Retailers Bomb Threat: a Concern Worth Addressing This trend has been ongoing for several months now and law enforcement agencies are currently investigating the situation. advertisement Already, some stores in New Mexico and Wisconsin have been affected by such bomb threats. Some of these retail stores have attested to the fact that bomb threats demanding random are an unusual occurrence and it appears to be the latest form of extortion targeted at retailers. An employee from Whole Foods Market in a Chicago suburb received a call from a scammer demanding $5,000 worth of BTC. According to the caller, a pipe bomb had been placed in the store and would be detonated if the ransom is not paid. In New Mexico, the scammer requested that money be wired to him. Also, he stated that if the employee involves the police, the bomb will go off.  However, in both cases, the authorities were duly notified and the premises were evacuated immediately. But on searchin...

The recent activities of the U.S. Securities and Exchange Commission (SEC) have caused many cryptocurrencies to continue plunging further into the bear markets, resulting in significant declines in their previous gains over the past few months. Despite this bearish trend, a few assets are still defying market sentiment and showing signs of potential growth. One such asset is Level (LVL), which currently displays a bullish signal for the upcoming days and weeks. Is this hidden gem about to explode? Why Level (LVL) Might Be a Potential Hidden Gem That Could Explode Soon LEVEL has achieved growth surpassing all expectations. Within the initial month, the platform recorded a trading volume of $320 million, resulting in fees exceeding $400k and attracting a large thriving community. In just 110 days, the ecosystem accomplished a milestone of $10 billion in trading volume, generating $8.3 million in fees during that period. As time progressed, LEVEL’s momentum intensified, with $20 ...

Navigating Market Challenges: Ethereum’s Outlook Ahead This Ethereum price forecast looks at how Ethereum’s price will change in 2023. Different factors like blockchain shifts, increased funding, regulatory improvements, and alternative technologies will be discussed. Graphs and charts will keep our audience engaged. In 2021, Ethereum’s price moved up and down a lot. With its performance, it could have reached over $5,000 after starting at around $600. During the first quarter of 2022, Terra collapsed, resulting in the bear takeover. The cryptocurrency Ethereum has a reputation for being less volatile than other cryptocurrencies. In May 2022, Ethereum led the crypto market with $4,380. As a result of China’s crackdown on cryptocurrencies, Ethereum’s price fell to $1,700, where it stabilized. Bitcoin and Ethereum Approaching 9-Month High: Positive Signs for the Future Ethereum’s momentum increased in the year’s second half despite the financ...

Earlier today, a whale withdrew millions worth of ETH from Binance to buy UNI and AAVE. Both UNI and AAVE saw their prices rise by more than 10% over the past day. ETH’s price was able to increase by just over 1% despite the massive ETH withdrawal by the whale. In one of their latest tweets, the analytics platform, Lookonchain, revealed that approximately two hours ago, a prominent whale made a significant Ethereum (ETH) withdrawal. The post revealed that 2,096 ETH (equivalent to $4 million) was withdrawn from the popular cryptocurrency exchange, Binance. Shortly after, the whale proceeded to utilize 500 Ethereum (approximately $960,000) to purchase 184,664 units of Uniswap (UNI) tokens at a price of $5.2 per token. Additionally, the whale spent 862 Ethereum (about $1.65 million) to acquire 24,252 Aave (AAVE) tokens at a price of $68.25 per token. Meanwhile, data from CoinMarketCap indicated that both UNI and AAVE saw huge increases in their prices over t...