Cryptocurrency

Bengaluru's Central Crime Branch police detained three individuals for reportedly conducting a Ponzi scam by persuading others to invest in crypto currency. Raghavendra, Nagaraju, and Shivamurthy, all of HSR Layout, have been recognised as the accused. They devised a chain-link concept in which company members may recruit others to join the platform in exchange for a commission.“The accused ran a firm named FOMOEX in Yelahanka," a police… read-more

Tesla and SpaceX founder Elon Musk and Twitter CEO Jack Dorsey's support and praise towards cryptocurrency get more apparent after a short-term "crypto"… read-more

Honduras, a country in Central America has installed its first Cryptocurrency ATM machine as the demand for digital currency is growing around the world. The machine called la bitcoinera can be used by the customers to obtain cryptocurrencies like bitcoin and ethereum using the country's official currency lempira. The device was installed by the Honduran firm TGU Consulting group in the capital city of Tegucigalpa. 

Bitcoin and Ether reached fresh highs in two months, after uncertainty over cryptocurrency rules in the United States. The prices of Bitcoin soared as much as 3.1% to $45,328, while Ether increased as much as 3.5% to $3,191. "Concerns about China’s crackdown and Elon Musk-fueled questions about Bitcoin’s energy usage", as per reports. However, experts believe that the fluctuations in the crypto market may prolong.

After China testing its own Central Bank Digital Currency (CBDC), UK has now decided to regard Britcoin as their own digital currency suspending physical cash under the supervision of Chancellor Rishi Sunak. Backed by the Bank of England, the currency would help stimulate the economic growth of Britain. Reportedly, the digital currency would "slash cost and time it takes to make payments online and transfer money".