Cryptocurrency

Proposal to Adopt Bitcoin as Part of Taiwan's National Reserve Strategy

Friday. August 9 at 11:30 AM

1 min. read

During the 2024 Asia Blockchain Summit, Samson Mow, CEO of Bitcoin technology company JAN3, suggested that Taiwan should purchase 83,000 units of BTC to bolster its national reserves. Mow, known for his involvement in El Salvador's Bitcoin initiatives, highlighted the economic benefits of adopting BTC, such as boosting tourism, GDP, employment, and foreign investment. He compared Taiwan's gold reserves to the UK's and proposed that Taiwan should hold 35% more Bitcoin than the UK. Mow justified the investment by pointing out that it would represent less than 1% of Taiwan's GDP, similar to the country's military spending. While the idea has yet to reach government officials, experts have discussed the potential advantages, including increased financial resilience. The global trend towards nationalizing BTC reserves, as advocated by figures like Donald Trump and Johnny Ng, further emphasizes the significance of Mow's proposal.

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Rising Interest in Cryptocurrency Pension Funds Among Younger Generations

Thursday. January 16 at 8:00 PM

Cryptocurrency-focused pension funds are gaining popularity among younger adults, indicating a shift in their perception of digital asset investments. A recent report from Bitget Research revealed that up to 20% of Gen Z and Alpha are open to receiving pensions in cryptocurrency. Additionally, 78% of respondents showed more trust in alternative retirement savings options compared to traditional pension funds. This trend signifies a significant change in how the younger demographic approaches financial planning. The report also highlighted a growing preference for decentralized finance and blockchain solutions among young people, with 40% of individuals in these age groups already investing in cryptocurrency. Despite the increasing interest, the report identified key obstacles to widespread crypto adoption, including price volatility, regulatory uncertainty, and cybersecurity threats. Industry experts believe that offchain transaction validation could prevent a majority of crypto hacks and scams, emphasizing the importance of security measures in the crypto space.

Cryptocurrency

Rise of Telegram Malware Scams in Crypto

Thursday. January 16 at 7:00 PM

Crypto scammers have shifted focus to Telegram malware scams, surpassing traditional phishing by 2,000% since November. Scam Sniffer reported a surge in sophisticated malware distribution through fake verification bots in trading, airdrop, and alpha groups. These scams allow attackers to access passwords, wallet files, clipboard data, and browser information. The security firm identified fake bots like OfficiaISafeguardRobot and SafeguardsAuthenticationBot. Scammers now target crypto communities with fake influencer accounts, inviting users to groups for investment insights. Once in, users are tricked into verifying through fake bots that inject malware to steal private keys and raid wallets. Scammers also use fake Cloudflare pages to deploy malware. This shift in tactics aims to exploit user awareness of phishing links. Cado Security Labs and Cyvers have also warned of similar scams, highlighting the increasing threat of crypto theft through malware.

Cryptocurrency

Former Takeout Driver Ordered to Repay $3.8 Million in Bitcoin Money Laundering Case

Thursday. January 16 at 5:00 PM

Jian Wen, a former takeaway worker in the UK convicted of money laundering Bitcoin, has been ordered to repay over $3.78 million (£3.1 million) or face an additional seven years in prison. The Confiscation Order follows her conviction for money laundering, where she was found linked to a cryptocurrency wallet containing 150 Bitcoin, valued at nearly $15 million. Prosecutors highlighted the lack of legitimate evidence for the acquisition of the Bitcoin, indicating it as criminal property. The UK's National Crime Agency and police have been granted increased powers to combat crypto-related crimes. Wen, who profited £3,500,113 from criminal activities, must pay back £3,126,572 within three months or risk an extended prison sentence. The Metropolitan Police seized Bitcoin wallets worth over £300 million in connection to Wen's case, emphasizing the need to address illicit crypto transactions in the country.

Cryptocurrency

Analysis of VIRTUAL Price Surge and Technical Indicators

Thursday. January 16 at 4:00 PM

VIRTUAL price has risen by over 18% in the past 24 hours, reaching a $2 billion market cap as AI coins recover from a recent dip. Despite this increase, indicators like ADX and BBTrend show ongoing challenges, with weak momentum and lingering selling pressure. Key levels at $2.81 support and $3.27 resistance will determine if VIRTUAL can maintain its upward trend or face bearish pressure. The ADX has decreased to 16.3, indicating a weakening trend strength. A value below 20 suggests market indecision. BBTrend, currently at -24.4, hints at a potential shift from bearish to neutral sentiment. VIRTUAL's EMA lines show a bearish setup, but a potential bullish reversal may occur if short-term lines cross above long-term ones. This analysis serves as information only, not financial advice. Conduct personal research and seek professional guidance before making investment decisions.

Cryptocurrency