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Biden to discuss crypto’s role in ransomware attacks at G-7, says national security adviser

The U.S. president has rarely made public statements on crypto and blockchain, though officials in his administration are reportedly reviewing current regulations.

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United States President Joe Biden will speak directly about cryptocurrency and its role in the attack on the Colonial Pipeline and other ransomware breaches, according to Biden’s national security adviser, Jake Sullivan.

In a White House press briefing on Monday, Sullivan said U.S. officials, seemingly including Biden, would like to see an action plan regarding ransomware attacks during the president’s visit to the G-7 summit this weekend. The national security adviser said this plan should address the resilience of such attacks, how to share information with other democracies and “how to deal with the cryptocurrency challenge.”

Sullivan said crypto “lies at the core of how these ransom transactions are played out,” citing cyberattacks as a “national security priority” for the U.S. government — particularly, for “critical infrastructure.” His remarks follow hackers breaching the network behind the Colonial Pipeline in May, reportedly forcing the firm to pay $4.4 million in ransom.

“It’s gotta become a priority on a going forward basis,” said Sullivan, referring to the G-7 addressing such ransomware attacks. He described the issue as a “different order of magnitude of a security threat that the alliance has to concern itself with in a way that it hasn’t historically.”

President Biden has, as an individual, largely been silent on crypto and blockchain both as vice president under former President Barack Obama and during his campaign for office. Last July, then-candidate Biden said he didn’t hold Bitcoin (BTC), following a massive hack that took over high-profile accounts and asked their followers to send crypto.

However, his administration is reportedly reviewing existing rules around crypto and determining whether new restrictions are needed to protect investors following volatility in the market. Since hitting an all-time high price of roughly $65,000 in April, Bitcoin has fallen more than 44% to reach $35,588 at the time of publication.

The G-7 summit is scheduled to be held in the United Kingdom from June 11 to 13. It will be Biden’s first foreign trip acting as U.S. president since his inauguration in January.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/biden-to-discuss-crypto-s-role-in-ransomware-attacks-at-g7-says-national-security-adviser

Blockchain

Coinbase-backed Crypto Financial Startup Amber Group Raises $1B Investment Round

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Coinbase-backed cryptocurrency financial services company Amber Group raise worth $1 billion in funds, aiming at providing investors with many different cryptocurrency products for investment.

The latest funding round continues a flurry of funding activity in the cryptocurrency sector. The financing was led by the well-known investment China Renaissance. In addition to Coinbase, other investors include Tiger Global Management, headquartered in New York. Amber Group has raised $100 million before this round of financing as investors rush to back companies in the industry. 

This Hong Kong-based cryptocurrency financial services startup company stated that the new funds raised this time will be used for strategic acquisitions, such as cybersecurity. In order to fulfil regulatory safety and compliance, acquisition targets mainly focus on companies with regulatory licenses in certain jurisdictions.

Michael Wu, CEO of Amber Group, said:

“I think regulation is always a challenge for this industry because it’s a very global industry. It’s always about staying ahead or at least staying aware of the different regulations. We always take a very conservative approach to that.”

The CEO also said the fresh capital raised would be used to “hire even more aggressively” and to make strategic acquisitions in areas such as cybersecurity.

According to PitchBook data, in Q2 of this year, the total amount of venture capital investment in cryptocurrency and blockchain startups was approximately $14 billion, compared to $600 million in the same period last year.

With the participation of institutional investors and large companies, both ordinary investors and institutional investors have increased their interest in cryptocurrencies, especially Bitcoin, this year.

Amber Group’s revenue mainly comes from the so-called net interest margin, a measure of lending profitability, to make profits, which takes 70%~80%. The main model is to accept customer deposits and provide deposit interest rates and then lend funds to other entities with a higher interest rate. About 15% of revenue comes from transaction fees.

Amber Group CEO Michael Wu said the company is bringing a “private banking experience to everyday customer.”

The group’s current main service targets are primarily institutional investors and wealthy people, providing products, including services such as algorithmic trading and lending products. In addition, the company is striving to gain individual investor customers. And it is expected to achieve $500 million in revenue by the end of this year.

Wu stated that:

“We don’t advocate heavy speculation or high use of leverage, rather we want our customers to be more long term, focus on risk management and get stable and attractive yield.” 

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/coinbase-backed-crypto-financial-services-startup-amber-group-raises-1b-investment-round

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Blockchain

Bitcoin Price Dropping, Is $30K Inevitable or Rebound To $35K Programmed?

bitcoin bear

The post Bitcoin Price Dropping, Is $30K Inevitable or Rebound To $35K Programmed? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The uncertainty is still prevailing with the crypto space as this week also initiated a fresh slump. Bitcoin price along with most of the crypto assets plunged heavily with a decline of nearly 3.48% in the global market capitalization.  However, the trading volume has surged more than 31%, but the bears could have outpowered the …

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The uncertainty is still prevailing with the crypto space as this week also initiated a fresh slump. Bitcoin price along with most of the crypto assets plunged heavily with a decline of nearly 3.48% in the global market capitalization.

 However, the trading volume has surged more than 31%, but the bears could have outpowered the bulls instead. The recent ban on crypto mining in China may have fueled the FUD. And hence the weekly trade kick-off initiated with a massive plunge.

Despite the free-fall, yet the price is expected to resume with a bull run, initiating a recovery soon. The BTC price has very strong support around $30,000 and interestingly, despite multiple plunges, the price remained above these levels. Therefore, as predicted by an analyst, Crypto Moon, Bitcoin will cross an all-time high within September end or October first week.

Also Price: Bitcoin & Ethereum Price May Reach To These Levels By Next Week

However, if we consider the overall price movements since the beginning of the plunge, the price appears to go parabolic. And hence, following the pattern, the price may eventually hit the ATH by September. Moreover, in the due course, the price may form a multi bottom and hence by the mid of July, the price may take off.

With the Bitcoin price plunge outspread in the market, the asset could still propel towards $45,000 in the coming weeks. No doubt the lows may hold strong around $28,000, and hence, as predicted by analyst AltcoinSherpa, the range break may happen in either direction. 

Collectively, the Bitcoin price may sweep $30000 if the bear continues to outpower crypto space. On the other hand, the bull run could resume soon which may rally towards its peak and eventually surpass the levels soon. Hence, the upcoming couple of days may be pretty decisive for the BTC price. 

Also Read: ‘Stop Trading Bitcoin Until Volatility Returns’, Says A Popular Analyst

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/price-analysis/bitcoin-price-dumping-hard-to-lower-levels/

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Blockchain

Bitcoin Price Dropping, Is $30K Inevitable or Rebound To $35K Programmed?

bitcoin bear

The post Bitcoin Price Dropping, Is $30K Inevitable or Rebound To $35K Programmed? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The uncertainty is still prevailing with the crypto space as this week also initiated a fresh slump. Bitcoin price along with most of the crypto assets plunged heavily with a decline of nearly 3.48% in the global market capitalization.  However, the trading volume has surged more than 31%, but the bears could have outpowered the …

Published

on

The uncertainty is still prevailing with the crypto space as this week also initiated a fresh slump. Bitcoin price along with most of the crypto assets plunged heavily with a decline of nearly 3.48% in the global market capitalization.

 However, the trading volume has surged more than 31%, but the bears could have outpowered the bulls instead. The recent ban on crypto mining in China may have fueled the FUD. And hence the weekly trade kick-off initiated with a massive plunge.

Despite the free-fall, yet the price is expected to resume with a bull run, initiating a recovery soon. The BTC price has very strong support around $30,000 and interestingly, despite multiple plunges, the price remained above these levels. Therefore, as predicted by an analyst, Crypto Moon, Bitcoin will cross an all-time high within September end or October first week.

Also Price: Bitcoin & Ethereum Price May Reach To These Levels By Next Week

However, if we consider the overall price movements since the beginning of the plunge, the price appears to go parabolic. And hence, following the pattern, the price may eventually hit the ATH by September. Moreover, in the due course, the price may form a multi bottom and hence by the mid of July, the price may take off.

With the Bitcoin price plunge outspread in the market, the asset could still propel towards $45,000 in the coming weeks. No doubt the lows may hold strong around $28,000, and hence, as predicted by analyst AltcoinSherpa, the range break may happen in either direction. 

Collectively, the Bitcoin price may sweep $30000 if the bear continues to outpower crypto space. On the other hand, the bull run could resume soon which may rally towards its peak and eventually surpass the levels soon. Hence, the upcoming couple of days may be pretty decisive for the BTC price. 

Also Read: ‘Stop Trading Bitcoin Until Volatility Returns’, Says A Popular Analyst

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/price-analysis/bitcoin-price-dumping-hard-to-lower-levels/

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Blockchain

MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals!

matic stable

The post MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

On June 21, cryptocurrency values remained in the red. The hash rate in China is reducing as Bitcoin miners close, causing the world’s most valuable crypto, bitcoin, and ethereum, to fall in value. According to CoinMarketCap data, the overall crypto market value dropped to $1.4 trillion in the last 24 hours, a loss of nearly …

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On June 21, cryptocurrency values remained in the red. The hash rate in China is reducing as Bitcoin miners close, causing the world’s most valuable crypto, bitcoin, and ethereum, to fall in value. According to CoinMarketCap data, the overall crypto market value dropped to $1.4 trillion in the last 24 hours, a loss of nearly 8%. 

In the midst of all of this, MATIC Price is reversing to new All-Time Highs. The altcoin appears to be on the verge of a bullish surge. Polygon gives a buy signal after plummeting more than 25% in the last five days. This cryptocurrency could soar to $1.45 or $1.60 if buying pressure increases. Currently, it’s attempting to make $1.50s as a support level and if it does, more bullish signals will be incoming. 

Here are Prime Reasons Why Polygon (MATIC) Price will Flourish This Cycle

According to Santiment’s data, MATIC’s Daily Active Addresses has been showing incredibly encouraging signals of growth over the last few months and is continuing to do so this month. If the current trend continues, it will be difficult to overlook the bullish case for MATIC. 

During the current crypto crash, MATIC’s Supply on Exchanges increased steadily, putting sell pressure on the market. It has gradually dropped since then, almost to the point where it has bounced off. This is positive, but it’s too early to say if there will be more when MATIC’s price finds its footing.

While it’s positive that the MATIC has broken through the resistance trendline, on-chain data shows that there is still a lot of sell pressure, as each rally has seen a surge in Daily Active Deposits. This indicates that a large number of people use any pump to leave their jobs.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/price-analysis/matic-price-polygon-flashes-buying-signals/

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