Opinion

Less than 24 hours after news broke, that decentralized finance (DeFi) platform Yearn Finance (YFI) had partnered with Cream Finance protocol. It has announced a new merger with DeFi protocol Cover. In a blog post published on Nov 28. Yearn founder Andre Cronje revealed the merger between the two DeFi protocols. He further stated that the merger was a natural one since Yearn developers worked with Cover protocol developers since its inception. Cover will provide backstop coverage for Yearn DeFi…

Ledger wallet holders target of a new email phishing scam that seeks to steal funds from their wallets. The mail was sent to users whose data were compromised in the Ledger data security breach in July. Phishing Scam Message Designed To Look Legitimate At first glance, the e-mail might look legitimate as the email address used this time, "no-reply@legdersupport.com," looks fairly similar to Ledger. It states that the wallet platform had fallen victim to a cyber attack. We’ve got a…

The long-awaited dump happened today, as leading coin Bitcoin suffered a major dip that crashed the market. This downward movement affected all the leading coins, with Ethereum and Ripple losing 14% and 20% in value, respectively. Bitcoin drops below $17,000 Before this latest crash, Bitcoin had entered a fairly stable phase after seven consecutive weeks of linear increase. There had been expectations from traders that the coin could hit the $20,000 mark this week, but this changed in today's early…

A severe fire outbreak gutted a poorly ventilated Bitcoin mining farm in Russia. According to reports from the Ministry of Emergency of the city, the fire outbreak started during the late hours of Tuesday in an apartment used for the mining operations. Poorly Organized Bitcoin Farm The fire started from the overheated mining equipment caused by the poorly established mining farm in a seven-room communal apartment located at Petrogradsky District, St. Petersburg. The farm owner failed to include a proper…

South Korea could be set to delay the implementation of a new crypto tax rule. Local reports say that the National Assembly has proposed postponing the deployment of the law till October 2022. 25% Crypto Income Tax The government had initially planned to begin the implementation of the cryptocurrency income tax rule by October 2021. The rule states that South Korean residents will be charged 20% income tax on cryptocurrency profits worth 2.5million won ($2000). The rule introduced by the…

With Bitcoin just 5% from its 2017 ATH price, Japanese financial service giant SBI Holding has launched a Bitcoin lending service. Starting with just Bitcoin (BTC), SBI said it plans to include other major crypto assets like Ethereum (ETH) and Ripple (XRP), the official announcement revealed.  The company disclosed that the lending service would also feature more trading opportunities, as SBI explores the crypto space.  The new lending service dubbed VCTRADE LENDING will be available on SBI VC Trade, the company's…

Bitcoin has surpassed yet another milestone as it rallied past $19,000 today. This is the highest Bitcoin had achieved since February 2018 when it rallied to its all-time high of $20,000. Major Step Towards All-Time High Bitcoin price surge today followed days of relative stability for the coin, which had hovered around the $18,000 to $18,600 range. During this period, the altcoin market boomed, leading to several altcoins catching up to Bitcoin's rally. Also, Bitcoin's market dominance reduced from 65%…

Last week, Western Union, the world's largest money transfer service, announced it would be suspending its U.S. dollar transfer service to Cuba following the Trump Administration's latest sanctions.  Fresh reports today revealed that the remittance giant has finally closed its 407 locations across Cuba after more than 20 years of operation. This means U.S. customers can no longer send money to Cuba, and Cuban users will no longer receive funds.  According to Reuters, the remittance market is Cuba's third-largest revenue…

Ripple (XRP) has joined the bullish run that has engulfed the crypto market since October. The popular altcoin peaked today at $0.53, its highest price since 2019. It is also the best performing major crypto asset of the week, with a price rise of 83% during this period. Ripple Experiencing A Renaissance The recent bullish trend for Ripple has been remarkable and shows that the coin is gaining relevance among traders. Ripple began the past week, struggling within the $0.3…