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The detainees told police they worked for G.A.S. Consulting & Technology, a cryptocurrency investment firm founded by a former waiter-turned-multimillionaire who is the central figure in what is alleged to be one of Brazil's biggest-ever pyramid schemes. Police say the company owned by 38-year-old Glaidson Acacio dos Santos had total transactions worth at least $7 billion ($38 billion reais) from 2015 through mid-2021 as part of a Bitcoin-based Ponzi scheme that promised investors 10% monthly returns.

Bitcoin dropped again on Saturday and was last down around 4 per cent for the day, hovering around the $35,000 level. Bitcoin, the world's biggest and best-known cryptocurrency, is now about half its $69,000 peak in November. It was last at $35,049, after falling as low as $34,000 and following a steep fall on Friday. The currency has had wild price swings and has been hit as risk appetite has fallen on inflation fears and anticipation of a more aggressive pace of interest rate hikes from the U.S. Federal Reserve.

Mumbai: Indian crypto investors, most of who have jumped on the crypto bandwagon in the past year, are a jittery lot as cryptocurrencies again fell sharply across the board in the past 24 hours following a selloff led by technology stocks in the US on Friday. “I started investing last year after being influenced by friends and business partners,” said Gopala Somani, a Delhi-based crypto investor. “I kept investing even till the last week, thinking it was time to buy the dip. But now I am stuck. My portfolio is down and in the red. If I sell, it will be a significant loss.”Bitcoin was trading at $35,572, while other major altcoins were also down by double digits, at 5 pm, Saturday, on Coinbase. Bitcoin has dropped 17% in the past week, Ethereum 26.66%, Binance Coin 28.74%, Cardano 19.43%, and Solana 31.90%. The popular meme coin, Shiba Inu, dropped 30.03%, while DogeCoin slid 32 % in the past seven days. At 5 pm on Saturday, the Coinable website said the overall market was down 12.19%.

What are DAOs, and why do they make sense to crypto investors in 2022? Organizations still conduct meetings behind closed doors, and only a select few are behind the decision-making process. DAOs aim to eliminate these localized positions of power. DAO stands for Digital Autonomous Organization, and it is more than just a crypto buzzword. You will learn more about these crypto concepts if you read crypto theme blog websites like CoinSwitch Kuber..

With the Federal Reserve intending to withdraw stimulus from the market, riskier assets the world over have suffered. Bitcoin, the largest digital asset, lost more than 12% Friday and dropped below $36,000 to its lowest level since July. Since its peak in November, it has lost over 45% of its value. Other digital currencies have suffered just as much, if not more, with Ether and meme coins mired in similar drawdowns. Bitcoin’s decline since that November high has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market. While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.

Crypto.com has finally admitted that 483 users on its platform lost almost $34 million in various digital coins owing to a compromise in two-factor (2FA) authentication. Overall, the unauthorised withdrawals had over $15 million worth of etherum, $19 million worth of Bitcoin and $66,200 in «other currencies». The platform said late on Thursday that on January 17, its risk monitoring systems «detected unauthorised activity on a small number of user accounts where transactions were being approved without the 2FA authentication control being inputted by the user».

The latest bout of selling ensued after Russia's central bank called for a crackdown on cryptos. Its central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty. The move is the most recent in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated and highly volatile digital currencies could undermine their control of financial and monetary systems.

The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated and highly volatile digital currencies could undermine their control of financial and monetary systems. Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism. It eventually gave them legal status in 2020 but banned their use as a means of payment.

bitcoin exchange-traded fund by First Trust Advisors and SkyBridge, the hedge fund founded by former White House communications director Anthony Scaramucci. The SEC's rejection of the First Trust SkyBridge Bitcoin ETF Trust was the latest in a succession of vetoes by the regulator around the listing of spot bitcoin ETFs, which seek to provide easy exposure to the digital currency. The SEC in October approved two bitcoin futures-based funds, the ProShares Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF, raising hopes that a spot bitcoin ETF would soon be approved as well. But in November and December the regulator turned down three spot bitcoin ETF proposals.

Russia must ban cryptocurrencies, the country's central bank said in a report released Thursday. The report says cryptocurrencies are volatile and widely used in illegal activities such as fraud. The sluggish macroeconomic conditions, rise in oil prices and tapering cues from the Federal Reserve, rising inflation and slump in technology market added to woes of traders.

Eric Adams on Thursday said his first paycheck, to arrive on Friday, will be automatically converted into cryptocurrency via Coinbase Global Inc. The salary will be converted to ethereum and bitcoin, the statement added. The mayor last year said he would take his first three paychecks in bitcoin and signaled his intention to make his city the «center of the cryptocurrency industry».

Federal Reserve said in a long-awaited discussion paper released on Thursday. The paper made no policy recommendations and offered no clear signal on where the Fed stands on whether to launch a central bank digital currency (CBDC), a digital form of cash in your pocket. The Fed said it would not proceed with creating one «without clear support from the executive branch and from Congress, ideally in the form of a specific authorizing law.» The paper tiptoes around a subject that has sparked debate inside the Fed's top ranks, even as other central banks across the globe are exploring the adoption of digital currencies.

Robinhood Markets Inc is rolling out crypto wallets to a 1,000 users, allowing them to send and receive cryptocurrencies through their brokerage accounts, the company said in a blog post on Thursday. The Menlo Park-based online brokerage had laid out plans to begin testing cryptocurrency wallets last year, with the aim of a broader rollout in 2022. Out of nearly 1.6 million people on a waitlist for the crypto wallet, the top 1,000 selected can now exchange their crypto from Robinhood with external crypto wallets.

Crypto assets and blockchain are no longer a nascent fad for investors or the government. The number of homegrown startups engaged in the sectors is rising exponentially, despite regulatory uncertainties. The startups and the new age companies associated with the industry are seeking clarity from Finance Minister Nirmala Sitharaman in the upcoming Union Budget over issues like taxation, legislation, exemptions and regulations. They are keen for Sitharaman to acknowledge the potential of the industry and frame some clarity of operations to aid their operations and growth in the future. The Finance Minister will table the Union Budget of February 1.

GARI is a native token launched by Chingari, a homegrown short-video app, which went live on 12 crypto exchanges, including HUObi Global, FTX, KuCoin, Gate.io, MEXC Global, OKEx and more. Through the GARI token, Chingari enables short-form video creators to monetise their content on the blockchain.

metaverse property, sale of NFTs and staking investments. The year-end report, compiled by vEmpire, discloses its staking strategies carried out across Ethereum, Decentraland, Sandbox, Axie Infinity, and Starlink, leading to unrealized profit surpassing $4 million in the final quarter of 2021 alone. As early adopters of the Metaverse, the entity’s NFT sales amounted to an additional $5,00,000 and supplemented with newly acquired valuable investments, at roughly ninety percent below current market value.

Crypto prices continued to slide on Thursday, following sluggish macroeconomic conditions, rise in oil prices and tapering cues from the Federal Reserve. Rising inflation and slump in the technology market added to the woes.Bitcoin once again slipped below the $42,000 mark but Ethereum was able to hold $3,200 levels. The trading volumes remained light during early trade as the market witnessed a sharp churn due to the changing economic environment. Barring Terra and dollar-pegged stablecoins, all other seven out of top-10 digital tokens were trading lower during the early trade on Thursday. Cardano posted double digit cuts.

Ethereum is starting to test the closely watched $3,000 price threshold as the broader drop in risk appetite in some of the more speculative areas of markets continues to weigh on some of last year’s best performing assets. The second largest cryptocurrency by market value after Bitcoin fell for a fourth day Wednesday, dropping as much as 3.7% to $3,048, according to data compiled by Bloomberg. The last time that Ether, as the native currency of the Ethereum blockchain is known, slid below $3,000 was on Jan. 10. The token surged about 400% last year, compared with a gain of 60% for Bitcoin. Ether is down about 15% in January. Other digital assets were similarly hit by investors’ weakening sentiment. As of 2:10 p.m. in London, Bitcoin was down around 0.6% lower to $42,149. Smaller digital assets known as altcoins were also affected, with Cardano’s ADA token and Solana’s SOL falling as much as 10.1% and 3.7% respectively, according to pricing data from CoinGecko.

family offices that hold cryptocurrencies, said two people aware of the matter. Companies currently have to disclose any holdings or dealings in cryptocurrencies or crypto assets in their filings with the Registrar of Companies (RoC). One of the people said the government could clarify the tax implications of such investments in the upcoming Budget. Most companies that hold cryptocurrency on their books are offering them as income (mainly, business income), but because there is no clarity on taxation, it is really difficult to compute actual income and how to treat them, tax experts said.

Nirmala Sitharaman, who will table the Union Budget on February 1. Currently, there is no legislation, act or law to govern, regulate or prohibit dealing in crypto assets in India. Therefore, it is not illegal to sell, purchase, deal or mine cryptocurrencies or set up a cryptocurrency exchange in the country. However, the demands from the industry players, investors and other stakeholders are likely to reach the government, who may finally give heed to clear the clouds of ambiguity and may steer to the way ahead for the future.

NFT is an exclusive piece of data that redirects the owner of that piece to a specific server or location on the web. And, this address can store an image, Gif, music video, or anything that is 'ART'. But that's not the best thing about NFTs. You can learn and read more about NFTs and even invest in specific NFT drivers via leading crypto exchanges like CoinSwitch. The original entity stored in the server has the creator behind it, who determines whether the collectibles change or what the entire NFT bundle offers.