The crypto market crash is impacting North Korea’s weapons programme
The recent crypto market crash has made its way to North Korea, where hackers are bearing the brunt.
The isolated country relies on stolen crypto to fund part of their weapons program.
But as crypto holdings drop by millions of dollars, the nation is reportedly scrambling to find new ways to fund Pyongyang’s missile plans.
North Korea has ramped up its stolen crypto assets in recent times leading to one of the largest cryptocurrency heists on record earlier this year.
Hackers allegedly stole $615 million worth of crypto prompting the U.S. tplace a warning about potential workers who are hiding their identities to find jobs abroad.
Meanwhile, crypto holdings have decreased in value with the market sliding below $1 trillion for the first time since January 2021.
Katerina Kostakos contributed to this report
Why a Bitcoin mining company is going against a major merger
Bitcoin mining company PrimeBlock has ended plans to go public via a specialpurpose acquisition company (SPAC) merger with 10X Capital.
The firms terminated the agreement via mutual consent, according to a US Securities and Exchange Commission filing.
Plans for the merger were confirmed in April, with expectations that it would be completed in the second half of 2022, carrying an enterprise value of $1.25billion.
No official reason has been given for the decision, but it is believed the volatility of both the crypto and mainstream markets in recent months may be a factor.
New York closes in on Robinhood dodgy crypto arm
Robinhood has been fined $30 million for alleged violations of anti-money-laundering, cybersecurity and consumer protection rules
New York state is closing in on the company’s crypto arm, with concerns the trading platform isn’t devoting enough resources to address compliance and cybersecurity risks.
It follows several regulatory probes into Robinhood in recent months.
In a statement, lawyers say the company has made “significant progress” in building legal, compliance and cybersecurity programs.
As part of the settlement deal, Robinhood Crypto will also be required to have an independent consultant to evaluate compliance practices moving forward.
At what times does the world invest in crypto?
New figures are out on when the most activity on the Bitcoin Network happens
Coin Metrics has found European and U.S. business hours is a hotspot for crypto investment on the Bitcoin Network.
It’s understood U.S. investors use the services in the morning hours, while Europe waits for later in the day.
Analysts are reporting a drop in the share of activity happening during Asian hours.
It seems like the use of Bitcoin in Asian markets fell around a year ago, which coincides with China’s crack downs on crypto mining.
The figures looked at when changes to wallets took place, before they were segmented based on the opening hours of various global exchanges.
Coin Metrics looked specifically at the Hong Kong Stock Exchange, London Stock Exchange, and the New York Stock Exchange.
Analysts also looked at Ethereum data, which is less clear than Bitcoin. However, the company believes Ethereum trading also tends to occur during U.S. waking hours.
Say hello to Netflix’s Addams Family
Woman slapped with 34 years in jail for tweeting
Two men fined for surfing through the famed Grand Canal in Venice
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
Move over Dogecoin, SHIB coin is here
Ticker Views2 days ago
Attorney General Merrick Garland: the iceberg cometh for Trump
Media3 days ago
Tom Holland firms as favourite for James Bond role
Business2 days ago
China has released the algorithm of your favourite apps
World1 day ago
Republican takes stance against anti-abortion bill after teen nearly loses uterus
Business1 day ago
American Airlines is getting into supersonic travel with major Boom order
World3 days ago
Shots fired at Six Flags Great America
Business2 days ago
From finding a gem of a stock to doing your own research
Business2 days ago
Can this duo compete with Amazon in streaming wars?