Korea’s ‘Big 4’ Bitcoin Exchanges Facing Strict AML Scrutiny from Banks

2019-7-30 13:00

The latest news emerging from South Korea indicates that Bitcoin exchanges are facing a surprisingly increased level of scrutiny of commercial banks amid the renewal of banking services. The revelation comes as the intergovernmental Financial Action Task Force (FATF) continues to urge countries to enact stricter regulatory controls over the crypto industry.

This according toRead MoreRead More. The post by Osato Avan-Nomayo appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\.

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bitcoin banks korea scrutiny exchanges facing according

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Источник: btcmanager.com

bitcoin banks → Результатов: 126

Mexico’s 3rd-Richest Man Wants Bitcoin Adoption As Alternative To Banks

Mexico’s 3rd-richest man, Ricardo Salinas has recently shared insights on why people should adopt Bitcoin (BTC) as an alternative to banks, noting that Bitcoin will catalyze inflation taxes due to the inability to debase the digital asset.

2023-10-25 03:00
bitcoin banks mexico alternative man 3rd-richest catalyze

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Can Bitcoin Counter the Dangers of Zombie Banks?

Unravel the complex relationship between troubled banks and the potential of cryptocurrencies like Bitcoin to reshape the financial system and provide a solution to the challenges they pose. The post Can Bitcoin Counter the Dangers of Zombie Banks? appeared first on BeInCrypto.

2023-4-1 22:04
bitcoin banks zombie dangers counter pose challenges

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There’s No Reason To Trust Banks And, Thanks To Bitcoin, We Don’t Have To

Trust in central and commercial banks is eroding quickly. The internet and social media are oil in the fire and Bitcoin is the extinguisher.

2023-3-31 17:03
bitcoin banks trust social internet media extinguisher

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Crypto Long & Short: Bitcoin's Hedge Potential

Bitcoin can be viewed as protection from inept central banks (and, yes, a tool for speculation, too).

2023-1-26 19:45	Business
bitcoin banks central inept yes tool too

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Singapore Banks' Exposure to Bitcoin 'Insignificant' but Subject to Highest Risk Weight

Banks must hold $125 in capital against every $100 worth of bitcoin, a senior minister said.

2022-11-28 19:33	policy
bitcoin banks 100 every against capital worth

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Banks Aren’t Going to 'HODL' Bitcoin

Bank for International Settlements proposals are unlikely to lead banks to hold bitcoin. But they could open the door to CBDCs, says our columnist.

2022-8-4 21:08	Layer 2
bitcoin banks could open cbdcs columnist says

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300 Banks to Offer Bitcoin to Clients in First Half of 2022

Small U.S. banks are preparing to dive into Bitcoin

2022-1-19 18:54
bitcoin banks small preparing dive 2022 clients

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US Regulators To Clarify How Banks Can Engage With Bitcoin In 2022

The Fed, FDIC, and OCC plan to share detailed guidelines for US banks interested in engaging with Bitcoin in the coming year.

2021-11-24 22:04
bitcoin banks guidelines detailed share interested coming

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The Roadmap For Banks Adopting Bitcoin

U.S. banking regulators are exploring how traditional banks can hold bitcoin for various purposes.

2021-10-28 02:00	Loans
bitcoin banks traditional hold various purposes regulators

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BNY Mellon Joins 6 Major Banks in Backing New Bitcoin Exchange

Pure Digital says the first trade will take place on its platform “within a week," and that it will be a bitcoin trade between banks.

2021-7-23 14:56	Markets
bitcoin banks trade take platform week between

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Nothing but lies – Banks Contribute to more Global Pollution than Bitcoin

The banking system has always been against virtual currencies like bitcoin, and they repeatedly use it to raise concerns about mining activities harming the environment. Still, according to the latest report presented by Greenpeace and WFF, it is found that banks themselves have contributed to a majority of climate chaos.

2021-5-27 18:26	featured
bitcoin banks report presented greenpeace latest according

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ING Bank Says DeFi Could Be More Disruptive Than Bitcoin To The Financial Sector

CNBC recently reported that more American banks will be adopting Bitcoin, allowing their customers to buy, sell, and HODL through their bank accounts. This is according to Cryptocurrency custody firm NYDIG, whose recent partnership with Fidelity National information services could merge banks and Bitcoin into one space.

2021-5-8 21:16	xbtusd
bitcoin banks could bank partnership fidelity recent

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Bitcoin Retakes $57K As Hundreds Of US Banks Prepare To Offer Crypto Trading And Custody To Clients

Bitcoin has recouped the losses from recent sell-off after news that the world’s oldest cryptocurrency is soon coming to hundreds of United States banks. Data from CoinMarketCap shows that bitcoin is hovering at $57,091.

2021-5-6 23:26	xbtusd
bitcoin banks hundreds soon coming retakes cryptocurrency

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Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

Bitcoin dropped during Asia-Pacific and European trade Thursday as rising bond yields prompted concerns that central banks may begin tightening monetary policies sooner-than-expected. The benchmark cryptocurrency fell up to 3.

2021-3-5 14:23	Cryptocurrency
bitcoin banks begin may prompted concerns tightening

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Pressure grows on Wall Street Banks to accept Bitcoin as a legitimate asset class

Wall Street banks are about to curve under employee pressure to start supporting Bitcoin. First off, Bitcoin has largely outperformed most other investment assets like stocks and gold, and this happened despite the numerous resources employed by Bitcoin opponents to stifle its growth and popularity.

2021-2-14 17:49	xbtusd
bitcoin banks like pressure wall street resources

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After brief cheers, U.S. banks are back to bashing Bitcoin again

Some US banks have restarted their outrage against Bitcoin even as others have warmed up to the asset in the past year. The post After brief cheers, U.S. banks are back to bashing Bitcoin again appeared first on CryptoSlate.

2021-1-24 03:23	btcusd
bitcoin banks again bashing cheers brief back

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Banks, Asset Managers Can No Longer Ignore Bitcoin

Banks and traditional asset managers used to stay away from Bitcoin and other cryptocurrencies, fearing for their reputation and scared of lack of regulation and wild volatility. However, the recent performance proved that Bitcoin should not be ignored.

2020-2-4 19:00	Cryptocurrency
bitcoin banks asset managers volatility however wild

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UK Banks Fined $66 Billion For Insurance Fraud; Bitcoin Still Bad?

The arguments as to why bitcoin is superior to the banking system are pretty clear cut to anyone that has used it. A decade ago BTC was conceived to cut out the fatcat middlemen and allow people to transact between themselves.

2019-9-12 15:30	UK
bitcoin banks cut fined fraud still bad

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How Bitcoin Demand is Driven by Central Banks Devaluing Their Currencies

The demand for bitcoin has certainly been tangible over the past few months. Even with a correction of around 30% the digital asset is still up over 160% this year. That growth could have been spurred by central banks devaluing their own currencies as economic skies darken.

2019-8-23 17:00	Yuan
bitcoin banks demand currencies devaluing central driven

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The Central Bank Of Myanmar Seeks To Shun Bitcoin as Crypto Adoption Grows at Rapid Pace

Myanmar, a small developing country tucked in the western side of Southern Asia is showing signs of ignoring the bitcoin craze that has been on since its development. Since bitcoin is built on a concept that could entirely do away with banks if adopted due to its decentralization aspect, central banks are a little terrified […]

2019-5-21 02:01	Bitcoin Innovation
bitcoin banks central myanmar development built concept

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Top 3 Bitcoin Friendly Banks: Which Financial Institutions are Onboard with Crypto Assets?

And What That Really Means It is 2019 folks. And Bitcoin is 10 years old already. Despite the continuing polarization of opinion on whether or not big banks should be working with Bitcoin (or any similar digital currencies), the winds have slowly been shifting towards it. For now, there are several U.S. based banks that […]

2019-3-29 16:14	News
bitcoin banks digital currencies similar any winds

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Can Bitcoin Hedge Against Quantitative Tightening?

Satoshi Nakamoto designed Bitcoin (BTC) as an alternative to centralized payments, to exist independently from the flawed banks. As central banks tighten the valves of monetary policies, this aspect of cryptocurrency may come back to the foreground.

2018-12-10 20:37	institutional investors
bitcoin banks against hedge tightening quantitative dream

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Disturbing Report: Using Banks Is 300 Times More Expensive Than Transacting With Bitcoin

transaction fees, especially with Bitcoin, are flat-rate –regardless of the amount being transacted. With banks, the more money being transacted, the higher the fees. The post Disturbing Report: Using Banks Is 300 Times More Expensive Than Transacting With Bitcoin appeared first on Ethereum World News.

2018-9-20 21:14
bitcoin banks disturbing report using being transacted

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Bitcoin is 300 Times Cheaper Than Wire Transfers, Banks Take 83% Profit

Since 2017, so-called “experts” in the finance sector have criticized Bitcoin for being too expensive. Yet, banks are pocketing 83 percent profit on every wire transfer. According to Bank of America’s official data, the $302 billion bank charges $30 for outbound domestic wire transfer and $35 for outbound international wire sent in foreign currency.

2018-9-19 16:00	ethereum
wire banks profit bitcoin transfer outbound bank

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Five Major Banks Penalized in State Funds Theft Case in Kenya

Kenya’s central bank has penalized five major commercial banks for handling stolen state funds in the corruption scandal involving the country’s National Youth Service and Ministry of Devolution and Planning.

2018-9-19 15:30	Virtual Currency
banks kenya five state major penalized funds

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Nigerian President Demands HSBC Bank Return $100M in Stolen Money

Decentralised cryptocurrencies like bitcoin are anathema to traditional banking. Bitcoin allows people to trade directly with each other, bypassing banks, the conventional middlemen. Banks make money by charging fees for the services they provide, including keeping one’s money in a bank.

2018-9-17 02:28	УС
money bitcoin banks bank nigerian stolen hsbc

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Japanese SBI Set to Launch Ripple-Based Mobile App

Japanese Fintech heavyweight SBI Holdings plans to launch a Ripple-powered mobile payment application called MoneyTap. In a tweet shared with his followers, Takashi Okita, CEO of SBI Ripple Asia shared the web page of the new payment application, which promises to offer "easy bank transfer application" without fees.

2018-9-15 22:03	Payments
sbi payments bank ripple japanese application customers

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Europe’s central bank wants nothing to do with cryptocurrency (for now)

Europe’s central bank (ECB) won’t be touching cryptocurrency any time soon. Its president Mario Draghi shot down hopes of an EU-sanctioned digital currency, criticising blockchain tech for being too young and fragile to be useful.

2018-9-15 17:34	hard fork
central currency digital bank cryptocurrency europe issue

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Citigroup, Morgan Stanley’s Roadmap Shows Institutional Demand For Bitcoin is Surging

Over the past week, Citigroup and Morgan Stanley have doubled down on their plans to offer tradable instruments and products around Bitcoin. Alistair Milne, the chief information officer at Altana Digital Currency Fund, stated that the increasing interest towards cryptocurrencies as an asset class by banks and regulated financial institutions is crucial, as it demonstrates.

2018-9-14 14:56	Morgan Stanley
morgan citigroup bitcoin stanley shows demand surging

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Former RBI Governor Stirs Up PMO India – Time For Better Banks

Bank frauds in India have opened a can of worms this year, leaving the public questioning concepts such as board, governance, public sector, bankruptcy, and investor transparency with anxiety and anger.

2018-9-13 14:50	Regulation
india time former rbi governor public better

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Data Shows We Can’t Expect Cryptocurrency to Handle Inflation

Digital currency is being adopted in several nations fighting economic distress as a means to avoid inflation. In fact, crypto evangelists cite examples of African communities and countries like Venezuela to describe how digital coins could provide security from central banks’ policies and subsequent inflation in times of crisis.

2018-9-13 14:11	Cryptocurrency
inflation cryptocurrency data blockchain digital expect shows

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What Could The 2019 Crypto Trends Be?

Crypto is an industry which is increasing at an alarming rate. With Bitcoin in the news more now than it ever has and other cryptocurrencies getting more and more interest by public eye, this is a good time for the market.

2018-9-12 18:00
crypto ripple daily could 2019 trends industry

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Ripple and R3 Reach Settlement in Year-Long Court Case

A year-old legal battle between two of the crypto industry’s leading organizations is coming to a close. After a volley of countersuits that had the companies jumping from courthouse to courthouse, Ripple and R3 have brokered a settlement that will put the drama to rest.

2018-9-12 21:26	Law & justice
ripple case court settlement bitcoin magazine xrp

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PR: Killing Banks – A Financial Crypto Startup MoneyToken Announced 0% Loans and Token Burn This Wednesday

MoneyToken crypto-backed loans platform has announced making zero-interest loans available for everyone. From 12th September September forward, anyone will be able to join the MoneyToken platform and get a loan under a 0% interest rate.

2018-9-11 12:30	USDC
moneytoken loans platform announced rate interest users

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Korean Banks to Limit Services for Crypto Traders Without Real-Name Verification

South Korean banks are reportedly taking measures to limit services for customers who are not using the real-name system. It has been over seven months since the Korean government introduced the crypto real-name system, but only 40-50% of accounts at the country’s top four cryptocurrency exchanges have been converted into real-name ones, according to local […] The post Korean Banks to Limit Services for Crypto Traders Without Real-Name Verification appeared first on Bitcoin News.

2018-9-11 10:35	Virtual Currency
real-name korean crypto banks limit services system

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CNN Video Explains Why People Trust Bitcoin More Than Central Banks Worldwide

Do People Trust Bitcoin More Than Central Banks CNN recently aired a video highlighting how people around the world are starting to trust bitcoin more than they trust central banks. The video features Andrew Ross Sorkin, best known for writing “Too Big to Fail”.

2018-9-11 07:34	News
trust banks bitcoin central people video cnn

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Tired of Bank Bailouts and Hyperinflation? Bitcoin Offers Something Different

People often wonder why a cryptocurrency with a limited supply like bitcoin has been gaining traction over the years. Since the 2008 financial crisis, the world’s central banks have printed around $12-30 trillion worth of promissory notes, and more than $10 trillion in negative-yielding global bonds.

2018-9-11 06:45	УС
bitcoin global tired different trillion printed bank

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India Cryptocurrency Winter Survivors: We Were Not Sleeping, But Hibernating

The RBI Circular was intended to put a pause button on cryptocurrency activity in India, but as the mandate that restrained banks to be involved in this space goes through debate, protests, and court pit-stops, beneath the surface a lot has transpired.

2018-9-11 05:15	Trade
india cryptocurrency sleeping hibernating winter survivors transpired

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Bitcoin Is Extremely Useful In These Problematic Countries

In many countries, there are emerging monetary crises as local currencies lose value. Local governments or central banks are unwilling or unable to solve inflation, and that’s a key chapter in the story of Bitcoin.

2018-9-10 20:00	Payments
bitcoin countries local these problematic useful inflation

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Bitcoin Trading Desk: Goldman Sachs CFO Says Speculation Is ‘Fake News’

One of the first major investment banks to enter the cryptocurrency sector, Goldman Sachs has been hinting at launching a Bitcoin trading desk since June. Following news of a delay, Goldman Sachs CFO Martin Chavez is now saying that the firm never had a timeline for it in the first place.

2018-9-7 01:22
sachs goldman bitcoin cfo desk trading never

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Abra Supports SEPA Bank Transfers, Enabling Crypto Purchases With Fiat

Abra, the all-in-one digital wallet and cryptocurrency exchange, has announced its support for Single Euro Payment Area (SEPA) bank accounts. European users can now enable direct wire transfers from European banks to purchase any of Abra’s 28 available cryptocurrencies.

2018-9-7 23:38	Payments
abra bank users cryptocurrencies bitcoin transfers european

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Mind Behind Bitcoin ATMs Develop Marijuana Dispensaries

Marijuana is an ever-growing industry where even some authorities have backed away from it. Nevertheless, in combination with credit card businesses and banks denying to provide services to many companies, limits have been put in place which has given alternative systems a great chance to prove themselves.

2018-9-6 13:00
dispensaries marijuana bitcoin mind crypto atms develop

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Iran Recognizes Cryptocurrency Mining as Industry

Iran has purportedly accepted cryptocurrency mining as an official industry. According to a high-ranking official, all related institutions have already agreed on it. A Breath of Fresh Air Iran has historically been fairly controversial in its stance towards cryptocurrencies.

2018-9-6 11:00	Regulation
iran official industry mining cryptocurrency cryptocurrencies recognizes

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Virtual Crypto (Bitcoin ATM Maker) Reveals Cannabis Dispensary Crypto Payment System Plans

Virtual Crypto Technologies Reveals Plans for Crypto-Backed Payment System for Cannabis Dispensaries Cannabis has been the most-debated topic in the US as its legalization has gained both supporters and naysayers.

2018-9-6 07:34	News
crypto virtual plans dispensaries system payment reveals

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Bitcoin ATM Maker Develops Payment Solution for Cannabis Dispensaries

The legal US cannabis industry growing strong where local authorities have stepped out of its way. However, in combination with banks and credit card companies refusing to provide services to many businesses, restrictions have created a perfect opportunity for alternative systems to prove themselves.

2018-9-6 00:05
bitcoin dispensaries atm develops maker payment solution

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Reserve Bank of India Could Be Softening Its Stance Towards Cryptos

India’s crypto community was shocked when the Reserve Bank of India (RBI) issued a circular on April 6, 2018, which prohibited banks and other financial institutions from providing any crypto-related service, revealing the RBI’s anti-crypto stance.

2018-9-4 14:29
india stance reserve bank rbi might cryptos

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Bitcoin, A Tool For The Labour Class, Or A Weapon For Capitalism?

We’ve touched upon this sort of issue before, but it’s a topic that comes back again and again. Bitcoin was produced as a site of liberation, a decentralised product designed to allow people a chance to break away from the capitalist financial system, a way to take control of your own money across a democratic medium.

2018-9-3 08:00	Breaking News
bitcoin tool again labour weapon capitalism control

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Bitcoin Magazine’s Week in Review: More Than an Academic View of Progress

This past week has seen progress in two aspects of Bitcoin: privacy and payments. Attitudes toward blockchain technology are also showing progress as two surveys reveal.

2018-9-1 02:06
bitcoin blockchain technology regulation companies interest survey

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Iran’s Indigenous Cryptocurrency Is Designed To Beat Trump’s Sanctions

In response to a number of economic sanctions imposed on Iran by the United States, the country had announced that it would be considering the production of a native cryptocurrency, designed to help Iranian banks avoid the sanctions imposed by the Trump administration.

2018-8-30 23:00	Cryptocoins
sanctions iran designed cryptocurrency iranian indigenous trump

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Upbit license renewal on hold after authorities uncover 500k suspected KYC violations

South Korea’s Financial Intelligence Unit reportedly found 500,000 to 600,000 potential KYC violations on Upbit, the largest crypto exchange in the nation. KYC violations of this scale could lead to fines and possible license renewal issues. According to a report…

Dogecoin mania enters South Korea despite falling below $0.40

The fall of the Dogecoin price below $0.40 triggered a surge in its trading volume and leading South Korean exchanges are profiting from it. Dogecoin (DOGE) declined by 5% in the past 24 hours and is trading at $0.385 on…

South Korea’s Upbit will launch Solana-based DRIFT trading pairs

South Korea’s largest crypto exchange, Upbit, announced that it will launch DRIFT trading pairs for Korean Won, BTC, and USDT on Nov. 8. Drift Protocol’s governance token, DRIFT(DRIFT), will be available to trade on the Upbit crypto exchange starting on…

South Korean regulator to review crypto ETF approval: report

South Korea’s financial watchdog is reportedly set to review the approval of spot crypto ETFs and the legalization of corporate crypto accounts through a newly formed committee. South Korea, which has been cautious in its approach to crypto regulation, is…

Nearly 200 South Koreans in their 20s hold over $750k in crypto: report

More than 185 South Koreans in their 20s own over $750,000 worth of digital assets each, based on data from Upbit and Bithumb. As reported by Maeil Business Newspaper on Oct. 3, South Korean-based crypto exchanges Upbit and Bithumb submitted…

Когда майнинг доходнее стейкинга и мемкоинов: причины роста Nervos Network

Большинство современных криптовалют используют стейкинг или его разновидности. А вот майнинг в 2024 году уже не так популярен. Но это не помешало существующей с его помощью криптовалюте Nervos Network вырасти за месяц вдвое. В чем причина и что будет с активом дальше?

Upbit listing triggered bullish momentum for MEW

The Solana-based meme coin, cat in a dogs world, recorded a notable price surge following a major announcement from South Korean crypto exchange Upbit. According to the Upbit announcement, the exchange will list cat in a dogs world (MEW) today…

2019-7-30 13:00

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