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hello ;)
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In November 2021, during a conversation with Forbes Ukraine, Binance cryptocurrency exchange founder Changpeng Zhao (or CZ) called the United States the most crypto-friendly country in the world. Two and a half years later, CZ was forced to leave his position as Binance CEO under pressure from American regulators, and the company itself paid a record fine of $4.3 billion. The company was suspected of violating anti-money laundering rules. In particular, Binance, according to regulators, could be used by terrorist organizations such as Hamas or Al-Qaeda. Zhao, who currently ranks 51st on the Forbes Real-Time Billionaires list with a fortune of $33 billion, was banned from interfering in Binance's affairs for three years, but he can still own a majority stake in the company. He was replaced as CEO by Richard Teng, former head of regional markets at Binance.
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I love Beijing 😍
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I love Beijing for its unusual combination of colors
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China's strict stance on cryptocurrencies began in 2013, when the government banned financial institutions from conducting Bitcoin transactions. This initial ban marked the beginning of a series of regulations aimed at curbing the growth of the crypto market within its borders. In 2017, China banned initial coin offerings (ICOs) and closed domestic cryptocurrency exchanges. In 2021, the repression continued, with a ban on cryptocurrency mining and all cryptocurrency-related transactions. Despite the ban, demand for cryptocurrencies in China remains high. Many Chinese cryptocurrency users have sought alternative ways to acquire and trade cryptocurrencies, often turning to overseas exchanges and underground markets. If China lifts its cryptocurrency ban, the impact on the global cryptocurrency market could be huge. The return of China, as one of the world's largest economies, to the crypto market could increase trading volumes and raise prices for digital currencies.
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Four hundred respondents took part in the survey conducted by the company importing equipment for blockchain computing in Russia, Intelion Data Systems. According to the results, 38% of respondents began investing in mining in anticipation of the Bitcoin halving. Another 14% of respondents began investing in mining in 2022, 9% - with the rise of the cryptocurrency market in 2017, and 2% of respondents have been investing in cryptocurrency mining for more than ten years. Respondents confirmed that they are ready to invest millions of dollars in cryptocurrency mining in Russia, but they are held back by the lack of transparent and understandable regulation of the industry. We would like to remind you that the State Duma of the Russian Federation is considering a bill on regulating activities related to the extraction of digital assets.
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good morning everybody
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The Turkish team defeated the Austrian team in the 1/8 finals of the European Championship, which takes place in Germany. The meeting in Leipzig ended with a score of 2:1. Merih Demiral scored a double for the winners, and Michael Gregoric scored for the Austrians. Demiral's first goal in the 57th second of the match became the earliest goal in the history of the European Championships playoffs. The Turkish national team will play against the Netherlands in the quarterfinals of EURO 2024. The game will take place on July 6 in Berlin.
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The CEO of CryptoQuant said that Chinese mining pools control about 54% of the market. Ki Young Ju noted that not all participants in these pools are Chinese.
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The drop comes in the wake of the launch of spot Bitcoin exchange-traded-funds, which appears to have shifted the periods when Bitcoin is traded to be more in line with the schedule of traditional equity exchanges and has lowered its price volatility. One of crypto’s noteworthy traits is that, unlike stocks, it trades during all hours of the day and even on Saturdays and Sundays. In the past, Bitcoin trading gained notoriety for its “Wild Weekends,” where the digital currency would experience wide price fluctuations. But that phenomenon seems to be cooling since Bitcoin’s weekend trading volume has continued to dwindle from its high of 28% in 2019. The launch of Bitcoin ETFs is likely a big reason why. The decline of weekend trading is a “trend that has been going on for years, but has been exacerbated by ETFs,” according to Kaiko Senior Analyst Dessislava Aubert.
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Let it not be forgotten that before El Salvador adopted Bitcoin as legal tender in September2021, it was Argentina that seemed the most receptive and interested in Bitcoin, not least because of the country’s seemingly omnipresent inflation rate. According to Statista, the peso’s inflation rate for 2024 is a whopping 250% and has been rising annually for the past seven years from 25% in 2017. In October2011, under the presidency of Cristina Fernández de Kirchner, Argentina introduced strict currency controls, making it very difficult for citizens to obtain U.S. dollars, the go-to hedge against the Argentine peso’s inflation. Consequently, alternatives such as Bitcoin were naturally attractive to Argentinians who no longer had the easy option of acquiring dollars and wanted to protect their savings. This interest in Bitcoin is likely to increase even further after the election victory of the unorthodox Javier Milei in December2023, who has advocated for radical action to sort out the country’s economy.
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Against the backdrop of the announcement, the rates of native tokens EOS and ALGO decreased by 2.6% and 2.9%, respectively. At the end of May, the EOS community supported reducing the total supply of native tokens by 80%. The change in tokenomics is intended to stimulate network activity. Late last year, block explorer AlgoExplorer announced its closure. The team cited a lack of funding from the NGO Algo Foundation and the inability to cover operating costs even with the investment of personal funds.
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“We will continue to support protocols and blockchains that the community finds useful, and we will encourage the community to expand USDT use cases for each protocol,” Tether concluded. Currently, native USDT is supported on 16 networks: TRON, Ethereum, Solana, Avalanche, TON, NEAR, Celo, Cosmos, Tezos, Liquid, Polkadot, as well as Kusama, Bitcoin Cash SLP, Omni, EOS and Algorand. The end of support for Kusama, Bitcoin Cash SLP and Omni was announced last year. On August 17, the company stopped issuing new coins on these networks due to low user demand. Coin buyback is also available within 12 months from that date. Then the company noted that if the blockchain shows a decline in activity for a long time, its support for Tether becomes ineffective and unsafe.
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GetBlock Magazine - What happened? Tether will stop supporting the EOS and Algorand blockchains for its stablecoin USDT, which ranks third in the overall ranking of cryptocurrencies with a capitalization of $112.9 billion. The company clarified that it regularly evaluates the supported networks for their security and ease of use, as well as the popularity of USDT in their communities. Press release What else is known? As of June 24, Tether will stop issuing new USDT on the EOS and Algorand networks; over the next 12 months, existing coins on these networks can be redeemed (exchanged for collateral) as usual. Further changes will be announced during this period. Tether noted that the key factor when making decisions about investing in specific blockchains is the interest of the community. The company emphasized that it is committed to allocating resources in a way that can improve security and efficiency while supporting innovation in the crypto industry.
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