Social Media Platform Torum Announces Strategic Investment by Huobi Ventures HECO Fund

PRESS RELEASE. Torum announces strategic investment by Huobi Ventures, the $100 million venture arm of Huobi Group to foster blockchain adoption and ecosystem expansion. 5th August 2021, Kuala Lumpur, Malaysia — On the eve of the project’s 1st year launch anniversary, social media platform Torum has released its H2 strategic ecosystem expansion plan, prioritizing the construction of a one-stop crypto ecosystem. The plan includes core features that aim to solve the industry’s information asymmetry problems and improve the connection between projects and communities through a social-based ecosystem. Torum H2 Strategic…

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Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum

On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one true, troy ounce of fine gold,” according to Kitco. Kitco Launches KGLD Token Backed by a Troy Ounce of .999 Gold In the seventies, Bart Kitner started trading gold with funds he got from a…

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Russia to Track Crypto Transactions With Help From Sberbank-Owned Company

The Federal Financial Monitoring Service of Russia is going to start tracking cryptocurrency transactions. The agency has already selected a contractor to develop the platform. The entity is affiliated with one of Russia’s largest financial institutions, Sberbank. Rosfinmonitoring to Keep Record of Cryptocurrency Wallets Used for Illicit Purposes Russia’s financial watchdog, Rosfinmonitoring, has selected a contractor for the building of a platform that will be used to track cryptocurrency transactions in the country. The company that won the tender, RCO, is managed by Rambler Internet Holding which is affiliated with…

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Crypto Gambler Wins $75,000 with a $31 Bet on ‘Book of Aztec’ at Bitcoin.com’s Casino

Book of Aztec dishes out a massive round win worth a little under 2 BTC, leaving the player ecstatic! A small bet results in one of the biggest wins for the player One lucky player has just bagged a massive win worth $75,000 in a popular slot game from Amatic called ‘Book of Aztec’ at Bitcoin.com Games. The big win comes promptly after the player decided to deposit some bitcoin in his casino wallet and started playing his favorite slot. What’s more interesting to note is that the player had…

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Fidelity Investments Purchases 7.4% Stake in Bitcoin Mining Firm Marathon

Marathon Digital Holdings has published the company’s bitcoin production and mining operation updates for the month of July and bitcoin production increased 66% month-over-month. Furthermore, the financial services giant Fidelity Investments purchased a 7.4% stake in Marathon in July, spending around $20 million for the shares. Fidelity Investments Scoops Up Shares of Marathon for $20 Million Boston-based Fidelity Investments is one of the largest asset managers in the world, handling $4.9 trillion in assets under management (AUM). Fidelity has been involved with cryptocurrencies and blockchain for years now and on…

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US Government Has Seized Cryptocurrencies Worth $1.2 Billion So Far This Year

The U.S. government has seized cryptocurrencies worth $1.2 billion so far this year, according to an Internal Revenue Service director. This is a significant increase from $137 million in crypto seized the previous year. $1.2 Billion in Cryptocurrencies Seized Jarod Koopman, director of cybercrime at the Internal Revenue Service (IRS), shared some information on cryptocurrencies seized by the government with CNBC Wednesday. His division typically handles crypto tracing and open source intelligence, which includes investigating tax evasion, filing false returns, and money laundering. He noted that the seizure of cryptocurrencies…

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OVR and BlackPool: NFTs With Augmented Reality and Virtual Reality

OVR is collaborating with BlackPool to add augmented reality (AR) and virtual reality (VR) to its ERC-721 NFTs at OVRLands. According to reports, the popular digital world of Non-Fungible Token OVRLands, would now have the ability to offer new experiences that give room for every kind of imagination. Thanks to the entry of BlackPool, a decentralized autonomous organization (DAO) built exclusively for NFT gaming and trading, now augmented and virtual reality will add experiences to the NFT world. OVRLands are ERC-721 NFTs representing one of the 1.6 trillion unique hexagons…

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Cryptocurrency Swap Not Banned in Iran, President’s Legal Team Says

Current regulations do not prohibit the swapping of digital currencies, according to the Iranian Vice Presidency for Legal Affairs. The department has stated its position in correspondence with an ICT industry association which wanted to know what rules apply to cryptocurrency exchange, local media reported. Converting a Cryptocurrency Into Another Is Not Against Iranian Law Regulations approved by the Tehran government in 2019 do not ban the swapping of cryptocurrencies, the Vice Presidency for Legal Affairs said in response to an inquiry by the Iranian Information and Communication Technology Guild.…

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FBI Joins Probe Into Collapsed South African Bitcoin Ponzi Scheme

In what is seen as a boost for Mirror Trading International (MTI) investors, United States investigators are said to have joined the probe into the collapsed bitcoin scheme. According to a report, the U.S. investigators’ goal for joining this probe is to help “recover the assets of out-of-pocket investors.” FBI Interest Confirmation of the U.S. Federal Bureau of Investigation’s involvement in the MTI case comes just a few days after reports emerged that the scheme’s masterminds had filed an application seeking to stall the liquidation process. As reported by Bitcoin.com…

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South African Start-Up Aims To Shield Merchants From Crypto Price Swings

While opponents of cryptocurrencies continue to peddle the environmental damage or the terrorism funding narrative, users from countries where the majority is financially excluded see these as a breakthrough innovation. Crypto Utility Inspires Volatility Solutions For instance, to undocumented migrants, cryptocurrencies offer a faster and cheaper way of sending money to their loved ones. For users that reside in countries with unstable currencies, cryptos act as an alternative store of value. Cryptocurrencies also act as a shield in times of hyperinflation. In some places, small businesses are now using cryptocurrencies…

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