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UK Authorities Make Record-Breaking Crypto Seizure Worth Approximately $250 Million



UK detectives have seized cryptocurrencies worth nearly £180million, approximately $250 million. A 39-year-old woman was released on bail after under arrested. This seizure becomes the largest on British soil because it tops the £114 million, roughly $160 million, confiscation by the Metropolitan Police in June. 

A 39-year-old woman suspected on suspicion of money laundering offences and was arrested on June 24. The woman later was interviewed under caution about the recent seizure. The police said the investigations are ongoing.

Graham McNulty, a deputy assistant commissioner, said:

 “Proceeds of crime are laundered in many different ways. While cash remains king in the criminal world, as digital platforms develop, we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money.”

“Less than a month ago, we successfully seized £114million in cryptocurrency. Our investigation since then has been complex and wide-ranging. We have worked hard to trace this money and identify the criminality it may be linked to,” detective constable Joe Ryan added.

Organised criminals are eyeing cryptocurrencies

Relevant authorities across the globe are keeping a keen on the illegal use of cryptocurrencies. For instance, earlier this month, a former employee of New-Zealand based crypto exchange Cryptopia pleaded guilty to stealing over $171K in cryptocurrencies.  

The defendant was accused of owning an unauthorised copy of private keys from Cryptopia’s numerous digital wallets, enabling him to hack various digital wallets and access over $100 million New Zealand dollars in Crypto.

Cryptopia was liquidated in 2019 after over $165K worth of crypto was hacked and stolen, representing 15% of its clients’ digital currency stock.

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Source: https://Blockchain.News/news/uk-authorities-make-record-breaking-crypto-seizure-worth-approximately-250-million-dollar


Happy birthday Ethereum!



Today marks the sixth birthday of the Ethereum network and Ether – the world’s second-largest digital asset.

Ethereum was created by the crypto innovator Vitalik Buterin when the project was officially proposed in a white paper in late 2013.

The following January, a 20-year-old Buterin, headed down to the annual North American Bitcoin conference in Miami, Florida, clutching that white paper.

It’s there he met his Ethereum co-founders – a group of Canadian crypto evangelists who immediately saw the huge potential of Buterin’s idea.

Crammed into a little beach house, they invited Buterin to stay and turn his vision into reality.

Within six months, Vitalik had dropped out of the computer science program at the University of Waterloo, and moved out to Zug, Switzerland (now known as crypto valley) along with the rest of the group-turned-team.

The founding members of the Ethereum network included Gavin Wood (Solidity smart contract language creator), Anthony di Lorio (DeCentral founder), Joseph Lubin (ConsenSys founder), and Charles Hoskinson (Cardano founder).

After the completion of an $18m funding round in 2014, development begun and Ethereum slowly materialised as a viable decentralised network.

However, tensions between members set in and the team begun to unravel.

Charles Hoskinson was the first to go, many others would follow.

Today, only Buterin still works on the project.

After a period of successful testing on July 30, 2015 – the first block of Ethereum was mined and the Ethereum mainnet was launched.

The network has rapidly grown to become one of the most prominent components of DeFi and the crypto industry at large. However, a victim of its own success, gas and transaction fees have begun to slow.

This is why Ethereum is now preparing for an imminent scalability update to Ethereum 2.0.

Watch this space.

More crypto news and information

If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice



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Binance to halt derivatives and futures trading in Europe



Binance has officially halted futures and derivatives products offerings across the European region, commencing with Germany, Italy, and the Netherlands. 

The leading cryptocurrency exchange continues to limit products to users amid the ongoing challenges it faces from global regulators.

The move means users from these countries will not be able to open new futures or derivatives products accounts “with immediate effect”. 

Binance confirmed that if existing users have any open positions in these markets, they are advised to close them, noting that a further announcement would be made at a later date to confirm a 90-day period in which to close open positions.

Binance clarified the importance of European markets to their offerings and invited regulators to open a dialogue to discuss the requirements necessary at local levels. The discussion marks Binance’s continued efforts to collaborate with local and national regulators on the necessary requirements to operate in these areas.

“The European region is a very important market for Binance, and it is taking proactive steps towards harmonising crypto regulations, which is a positive sign for the industry,” wrote Binance in a tweet.

Binance also said it does “not actively market Futures and Derivatives Products locally” and that they plan to start “further scaling down” access to these products within Europe. 

The announcement follows Binance’s recent removal of high leverage trading products from its product offerings and a seemingly relentless wave of scrutiny and oversight from global regulators. 

Despite recent efforts to appease regulators by CEO Changpeng Zhao (CZ), Binance has been forced to delist certain margin trading pairs and cease trading and support for stock tokens like Tesla and Coinbase. Binance is also preparing to cut daily withdrawal limits from two Bitcoin (BTC) to 0.06 BTC in August.

Additionally, leading banking institutions and payment processors in the UK have started to limit transfers to and from Binance, citing “excessively high fraud rates” as a key reason for the decision. 

Binance has also been banned in Malaysia and given 14 days notice to shut down its operations. According to an announcement released today, the Securities Commission of Malaysia has issued public enforcement actions against Binance for “Illegally Operating in Malaysia.”

Binance has been given 14 business days from July 26 to comply. The order demands that Binance disables its website and mobile apps in Malaysia alongside ceasing “all media and marketing activities”.

The announcement also mandated Binance CEO Changpeng Zhao to ensure full compliance with the order. Malaysia’s securities regulator also urged citizens to desist from trading with crypto exchanges operating in the country illegally.

Binance-owned exchange WazirX is also being investigated by authorities in India to determine whether it was complicit in alleged money-laundering conducted by betting apps, which collected more than $134 million in the past 10 months. The Enforcement Directorate is investigating allegations that Chinese-operated betting apps laundered a portion of funds through WazirX.

CEO Changpeng Zhao remains optimistic about the future of Binance despite the recent regulatory issues faced by the exchange. He recently disclosed that Binance US, which operates separately from Binance, was looking to go public.

“Binance US is looking at the IPO route,” he said.

“Most regulators are familiar with a certain pattern or having headquarters, having corporate structure. But we are setting up those structures to make it easier for an IPO to happen.”


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PayPal to launch crypto trading in UK



PayPal has announced an extension of its cryptocurrency trading platform to UK customers.

This is a significant change of tune by the company, whose former CEO Bill Harris described Bitcoin in 2018 as “a useless payment system, and a ridiculous store of value”.

Now, however, the electronic payment service has slowly begun integrating cryptocurrencies on a large scale, with the moves described as part of an incremental new strategy by new CEO Dan Schulman as he revealed details in his recent Q2 reporting call.

“We continue to be really pleased with the momentum we’re seeing on crypto,” he said.

“We’re going to launch, hopefully, maybe even next month in the UK, open up trading there.”

Trading of crypto assets such as Bitcoin (BTC), Ethereum (ETH), and LiteCoin (LTC) is planned to arrive for UK users by the end of August. Currently, PayPal allows cryptocurrency transactions up to $100,000.

However, PayPal retains control of user’s cryptocurrency in a move reminiscent of traditional centralised financial practices, with no mechanism for transfers to private wallets.

This leads to the ‘not your keys, not your coins’ argument.

Jose Fernandez da Ponte, Vice-President for Blockchains, Crypto, and Digital Currencies suggested this will be a future feature incorporated into the Venmo platform.

Venmo – an easy payment app owned by PayPal – has become a primary facilitator of cryptocurrency trading for the company. The app is popular in the United States, but has made little impact on the British market.

Schulman indicated that Venmo is preferential as it can be used easily in day-to-day commerce, also noting the app’s rapid growth to 70 million users and revenues in excess of 180%.

“We’re also seeing strong adoption and trading of crypto on Venmo,” he added.

“In this quarter, we expanded the Venmo value proposition to allow merchants and consumers to pay for goods and services.”

Crypto in commerce seems to be the predominate focus of PayPal, although its ‘super app’ will operate a centralised trading exchange, this is a competitive space with the likes of DashDirect launching earlier this week.

Automated Clearing House (ACH) sits at the core of PayPal’s market-dominating strategy, allowing vendors and merchants to set-up direct debits to user’s crypto wallets.

“We’re working right now on transfers to third-party wallets, and we really want to make sure that we create a very seamless process for taxes and tax reporting,” Schulman explained.

“And so we’re really looking at how do we integrate that into both the trading and the buy with crypto on our platform.”

Implementation of DeFi products into PayPal’s ecosystem is fundamental to the firm’s potential success in integrating commerce with mass adoption, a fact that doesn’t escape their CEO.

“How can we use smart contracts more efficiently?” he asked in the Q2 call.

“How can we digitise assets and open those up to consumers that may not have had access to that before?”

“There are some interesting DeFi applications as well. And so we are working really hard.”

Needless to say, PayPal’s moves on cryptocurrency are of huge significance for crypto adoption – with the platform representing an easy and widespread point of entry for new crypto users.

More crypto news and information

If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice

Disclaimer: We do not give advice on financial products.

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Blockchain & Zerion now available in Ledger Live!


on & Zerion

At Ledger, we unlock the crypto world by adding more and more coins, tokens, NFTs and Decentralized Applications into Ledger Live. Today, we are proud to include two new dApps available in the Ledger Live Apps Catalog: and Zerion.

Adding new horizons to Ledger Live.

We just added two dApps, and Zerion, to make your Ledger Live experience as complete and convenient as possible. Both releases will provide you with privileged access to the world of Ethereum & DeFi.

You can find these new dApps within the Ledger Live Apps Catalog. This Catalog (in the “Discover” section) gathers all dApps currently and soon to be supported. Clicking on an app in this section will open the app’s interface. We do not manage the dApps, but rather give you secure access to them. the ideal place to display your NFTs. allows you to explore the world of NFTs. Here, you can freely display your NFTs. Besides, unlike a crypto exchange, doesn’t hold your assets on your behalf. You own them thanks to the power of cryptography on the Ethereum blockchain. 

Zerion: the easiest way to manage your DeFi portfolio.

Zerion is the easiest way to build and manage your entire DeFi portfolio from one place in a non-custodial way. This dApp enables you to explore the DeFi market, access thousands of ERC20 tokens, liquidity pools, vaults and to earn interest on stablecoins. Zerion unlocks the world of open finance, for all investors regardless of their crypto knowledge or experience.  

Why access your dApps through Ledger Live?

Benefits are two-fold:

Firstly, you are in total control of your digital assets. Your private keys remain tightly secured within your Nano hardware wallet, guaranteeing a hack-proof experience.

Secondly, while the current crypto ecosystem is strewn with dApps, exchanges, protocols, etc, Ledger Live is an ergonomic app with all you need to access a galaxy of Web3 services, under the same roof.  

Stay tuned, as more dApps are coming soon!

The Ledger Live adventure is just beginning. Our ambition is to become your secure gateway to the Web3 universe. In addition to those already supported (ParaSwap, Zerion and, we are gradually releasing additional dApps to enrich your experience. On Ledger Apps Catalog, they are marked as “coming soon” and include:

  • DeversiFi. Trade through a self-custody decentralized exchange on Ethereum 2.0.
  • Lido. Stake any amount of Eth to Eth2 and earn daily staking rewards. 
  • Aave. Lend or Borrow your crypto through a decentralized lending protocol and stay in control of your funds.
  • 1inch. Exchange crypto via a DeFi/DEX aggregator on Ethereum. 
  • Compound. Lend and borrow your crypto via a completely decentralized and open-source protocol. 
Ledger Live Catalog

We will keep adding more and more services into Ledger Live, always with one goal in mind: to become your safe gateway to the Web3 galaxy.  So… Stay tuned, and keep an eye on what’s going on in the Ledger Live “Discover” section. You might be surprised!

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