China News Official TheBitTimes.com

Source: Wit/Adobe The CEO of a bogus South Korean crypto bank has been handed a 10-year jail term – after cheating investors out of a total of $181 million. The news outlets Chosun and Newsis reported that the CEO (surnamed Ko) led a firm named QRC Bank. Ko was convicted of fraud and other charges. Two other QRC executives were also jailed, one for five years and the other for three. A branch of the Seoul Central District Court Criminal heard that Ko had also headed two associated companies, named QRC Korea and Worldchain. The court heard that Ko and the executives had used these companies to give their scam a veneer of authenticity. Ko and his associates had claimed that QRC Bank was an “integrated financial platform” that used cryptoassets to power remittances, exchanges, and payments. The court heard that around 5,400 people invested in QRC-related programs. The court also heard that Ko began his program in December 2019, and had “deceived ...

Bitcoin has seen a significant pullback in its price over the past few days, leaving investors wondering if now is the time to buy the dip. Bitcoin is trading within a narrow range of $22,700 to $23,850, and a breakout will determine the future price action in the market. In this article, we will explore what might be causing this pullback and whether or not it is a good time to invest in Bitcoin.  Tesla's $140 Million Bitcoin Loss & What You Need to Know About It   Tesla revealed in their SEC filing this Monday that they experienced a financial loss due to the amount of Bitcoin they invested in - which totaled over $140 million. During 2022, the electric car company took a $204 million hit in terms of impairment charges. However, they also managed to gain $64 million due to converting Bitcoin. In December 2022, Tesla reported an impairment loss of $204 million caused by changes to their Bitcoin carrying value. Additionally, they experienced a gain of $...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. New York, United States, 31st January, 2023, Chainwire BNB Chain decentralized exchange Biswap has published its 2023 roadmap which includes a number of proposed improvements and upgrades. It includes details of a new AMM, route optimization, and perpetual trading.  Take a look at the main Biswap benefits: https://biswap.org/ .  A new AMM protocol with concentrated liquidity will allow Liquidity Providers to accumulate their capital to smaller price intervals than from 0 to infinity, increasing capital use efficiency and providing users with more profitable exchange conditions with less slippage. Improved routing to find the best trading pairs will allow users to execute larger transactions with less slippage and increase capital efficiency, as well as receive greater rewards from trading fees for Liquidity Prov...

Image Source: CNBC US Congressman French Hill aims to promote digital assets and blockchain technology in America by creating a favorable regulatory framework. Speaking on CNBC’s Squawk Box on January 26, the chairman of the newly formed congressional subcommittee on digital assets said he plans to advocate a fair regulatory regime in order to make sure “America is the place for innovation in fintech and blockchain.” "We want to make sure that America is the place for innovation in FinTech and blockchain and distributed ledger technology is part of that FinTech future," he said in a subsequent tweet.  During his interview with CNBC, the congressman said Bitcoin is not fit to be used as a real-time payment method yet. However, he claimed that “we want to make sure that America is the place for innovation in fintech and blockchain is part of that future.” Hill also weighed in on the possibility of approving a spot Bitcoin ETF, saying ...

Source: Meta Masters Guild Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. The Meta Masters Guild presale has passed $1.2 million in funds raised, reaching this seven-figure amount in only two weeks. This total exceeds forecasts for the player-to-earn gaming platform, which is set to launch its first title -- Meta Kart Racers -- by the third quarter of the year. It also means that the second stage of the Meta Masters Guild presale has now sold out, raising the sale price for its native MEMAG token from $0.01 to $0.013. And with another price rise due in two weeks, early investors may need to act quickly if they wish to lock in the steepest possible discount on what may be one of the most successful tokens of 2023. Meta Masters Guild Presale Shatters Expectations, Raises $1.2 Million in Just Two Weeks – Time to Buy? What's impressive is that the presale's total s...

Source: Oka/Adobe Japan is inching closer to reforming its strict crypto tax laws for corporations – in a bid to stop an “exodus” of crypto talent and capital from flowing overseas. Pressure to reform has mounted in recent years, with industry figures and opposition leaders alike all calling for change. More recently, the top financial regulator, the Financial Services Agency (FSA), has signalled that it also wants to modify the restrictive laws. But a final step in this process is approval from the National Tax Agency (NTA). But while the NTA is yet to publicly signal it will make the change, analysts believe that it is working on a tax reform bill that it hopes to unveil in parliament in the coming months. Late last week, the NTA released a set of FAQs that address the matter of crypto taxation. And while these did not directly make mention of any coming reform, Junya Izumi, an Associate Professor of Tax Law at the Chiba University of Commerce, po...

Source: AhnLab The South Korean software giant AhnLab has released a crypto wallet – becoming the latest in a long line of the country’s IT players to move into the space. Per iNews24, AhnLab, the largest computer security company in South Korea and the brainchild of the tech entrepreneur and presidential candidate Ahn Chul-soo, has named the wallet ABC. The firm is famous for its V3 antivirus programs and its AlZip file compression solutions. But in recent years, it has indicated that it is prepared to pivot toward blockchain. The company has established a dedicated subsidiary named AhnLab Blockchain Company. AhnLab Blockchain Company’s ABC crypto wallet. (Source: AhnLab) The wallet is thus far only available on mobile devices, with Android and iOS versions released to marketplaces this week. The company stated that wallet was ready for the challenges of the Web3 era – and that it had built in a number of security Features . These include re...

On January 11, Bitcoin (BTC), the world's largest cryptocurrency, is staying bullish but it's facing strong resistance at $17,500. Likewise. Ethereum's (ETH) price is consolidating in a narrow range of $1,320 to $1,345 levels.  Bitcoin Named Dirtiest Crypto of 2022 According to a survey, a Luxembourg-based foreign exchange and teaching website, Bitcoin was the world's most polluting cryptocurrency in 2022, emitting about a ton of carbon dioxide (CO2) per transaction. After pollution was reduced in 2021, the Bitcoin network had a significant spike in CO2 emissions last year, according to the Analysis .  In 2022, the total CO2 emissions from the Bitcoin network were almost 86.3 million tons. According to the trading platform, if we planted trees at the rate of 431.6 million per year, we would be able to offset Bitcoin's annual emissions.  The growing trend of Bitcoin miners switching to greener energy sources was overlooked in the research. The Bit...

Image Source: CCN.com Some financial experts with a specialty in bubbles believe crypto is either one of the biggest bubbles in history or a smart Ponzi scheme not seen before.  2022 can be considered one of the worst years for the crypto ecosystem as a number of high-profile DeFi and CeFi platforms collapsed. Among the more notable examples, the Terra/LUNA ecosystem imploded in May while major crypto exchange FTX collapsed in early November.  Around $2 trillion worth of value was wiped out of the crypto market last year. While crypto proponents argue this is not out of the norm, citing crypto crashes in 2012 and 2017 when the market lost around 70% of its value, traditional financial experts are not sold.  For one, William Quinn, a senior lecturer at Queens’ University Belfast whose research focuses on financial bubbles, believes crypto is either a “stupider bubble than any previous bubble” in financial history or ...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com . Calvaria is leading among play-to-earn (P2E) games. As the industry continues to thrive, experts believe its native RIA token is a solid investment. Calvaria: Multiple Earning Opportunities for an Impressive Game  Calvaria: Duels of Eternity is a new blockchain game with the hallmarks of becoming the leader in P2E gaming. The platform is currently under development and draws inspiration from industry giants such as Gods Unchained to create the ideal free trading card and strategy game. The Calvaria gameplay is intriguing. Players can travel to a metaverse to purchase non fungible token (NFT) trading cards representing different characters.  These NFTs give players complete control over their assets, and they can compete in head-to-head battles, single-player campaigns, and seasonal tournaments. Players who do not...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Launched only four days ago, the FightOut (FGHT) presale has now raised over $2 million. This total puts the new move-to-earn platform comfortably on course to reach the $5 million target for the first stage of its presale, at which point FGHT's sale price will rise by 50%. Running on Ethereum, FightOut's innovative Web3 app will reward users for participating in workouts and leading a healthier lifestyle. It's due to launch in Q2 2023, around the same time that its native FGHT token will list on exchanges, providing early investors with the opportunity to book some market-beating profits. Crypto Experts are Saying This New Project is Better than STEPN and Sweatcoin – Here’s Why Given a total of $2 million, FightOut's presale has raised an average of $500,000 per day since opening. This implies another six ...

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com Earning optimal returns requires investors to buy assets at the lowest prices. Investors who didn't get in on presales have another chance at low prices during the initial coin offering (ICO). New crypto projects are added to the blockchain almost daily, but investors need sound investments, so we discovered the best upcoming ICOs. We compiled an upcoming ICO list and detailed each project's features and benefits. Let's find out more about how investors can potentially earn from new ICO crypto and what they entail. The 13 Best Upcoming ICOs in 2022 and 2023 Let's have a quick look at each project before we deep dive into each with a detailed review. FightOut (FGHT) - Best Upcoming ICO with M2E Fitness App and Real-World Gyms Dash 2 Trade (D2T) - Analytics and Intelligence Platform in Final Presale Phase Rob...