Authorities in the U.S and Brazil Disrupt Crypto Fraud Ring

There seems to be a surge in crime related to cryptocurrency as blockchain technology keeps expanding. 

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The United States Immigration and Customs Enforcement recently reported an investigation by the Brazilian National Police, U.S. Homeland Security Investigations (HSI) and other law enforcement agencies that led to the disruption of crypto-related fraud across several countries but with operational base in Curitiba, Brazil.

A U.S investigation has revealed that 37-year-old Brazilian citizen and former US resident Francisley Valdevino da Silva is the ringleader of a crypto fraud ring. Investors in more than a dozen countries were tricked into believing that there was a well-organized high-end crypto-financial product, when in fact the organization promoted fraudulent cooperation and licensing that enticed victims to invest millions of dollars in questionable cryptos. Ultimately, the cryptocurrency had little or no value.

The Brazilian authorities have also identified a similar fraudulent activity in Brazil with around $800 million wired through the Brazilian banking system alone aside from illegal proceeds transferred through cryptocurrency.

Governments Regulating Crypto-Related Crimes

The increase in online activities has created an opportunity for the growth of criminal activities in the digital ecosystem. Measures have therefore been put in place by different governments across the globe to fight such activities.

The U.S Department of Homeland Security hopes to put an end to the increasing cases of money laundering by creating a special unit called the Cyber Fraud Task Force ( CFTF). To effectively monitor and stop illegal online activity, CFTF investigators must be able to analyze a computer network, monitor IP addresses, and coordinate with Internet Service Providers (ISPs) to identify suspicious activity.

The Financial Crimes Enforcement Network (FinCEN) has also proposed methods for businesses operating in the crypto space, particularly exchanges. In the proposal, unhosted wallets properly monitored and transactions above $3,000 from unhosted wallets should be verified before concluding transactions with them.

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NYSE Owner Purchases Stake in tZERO

New York Stock Exchange’s (NYSE) parent company Intercontinental Exchange Inc (ICE), announced the purchase of a stake in tokenized securities venue tZERO.

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The announcement also added that ICE Chief Strategy Officer David Goone will become tZERO’s new chief executive officer next month. ICE’s investment will make it a “significant” minority shareholder in tZERO. However, the announcement did not provide the stake size or dollar value of the transaction.

TZERO is currently working to remake U.S. stock trading into a blockchain-powered business. The company runs a trading system where corporations can list digital versions of their stocks. 

Currently, only a few companies have signed up for tZERO’s system.

Goone, tZERO’s new CEO, said: “I look forward to bringing my three decades of product innovation and strategic experience forged in the exchange and derivatives trading industry to drive continued growth and operational excellence at tZero.” 

Other investors include tZERO’s original investor, Overstock.com and Medici Ventures, a blockchain-focused fund.

ICE has hugely invested in cryptocurrency exchange Bakkt.

The NYSE has also filed for an NFT trademark application with the United States Patent and Trademark Office (USPTO) on February 10, Blockchain.News reported.

According to the official announcement, the application submitted by the NYSE involves virtual reality and augmented reality software, non-fungible tokens or online markets.

The NYSE hopes it will offer “downloadable virtual goods” for NFTs and digital collectables, using blockchain technology for authentication, the report added.

This trademark application implies NYSE’s determination and plans to launch the NFT market and explore the blockchain and NFT market.

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Top Trader Says Ethereum Competitor Avalanche (AVAX) and Two Altcoins Appear Ready To Explode

A closely followed crypto trader says a major trend shift is occurring for one altcoin, and two more crypto assets are building bullish setups.

Pseudonymous trader Cantering Clark tells his 95,000 followers on Twitter that he has his eye on ICE, the governance token that powers multichain yield optimization platform Popsicle Finance.

With ICE well off its all-time highs and showing signs of sudden strength, Cantering Clark says a trend shift could be underway. He looks at ICE in its Wrapped Ethereum pair (ICE/WETH) to gauge its strength.

“Ok. This chart is pretty loud right now.

Narrative + Big names + Trend shift”

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Source: Cantering Clark/Twitter

The trader also has his eye on SPELL, the governance token for abracadabra.money, a decentralized finance (DeFi) platform that allows users to deposit interest-bearing collateral to take loans of its stablecoin Magic Internet Money (MIM), ostensibly enabling self-repaying loans.

According to Cantering Clark, SPELL is displaying a change in direction unparalleled in the rest of the crypto markets.

“I am not sure there is a cleaner change in direction than SPELL.

High timeframe W bottom at just the right time as most alt sellers cool off after 70-80% drops from highs. Significant players have built positions. Send it.”

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Source: Cantering Clark/Twitter

One Ethereum competitor that’s on the trader’s radar is the smart contract platform Avalanche (AVAX). According to him, all-time highs could be around the corner after a clean break of the $120 level.

“AVAX is such a beast.

Possible S/R (support and resistance) flip here at the daily pivot around $120.

ATH (all-time highs) next.”

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Source: Cantering Clark/Twitter

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Four Low-Cap Altcoins Erupt to New All-Time Highs After Surging 330% or More in Just One Month

Four altcoins with market caps ranging between $240 million and $900 million are up by triple-digit percentage points over the past four weeks.

The four crypto assets, namely Dopex (DPX), Popsicle Finance (ICE), Radio Caca (RACA), and Spell Token (SPELL), are also fresh off all-time highs recorded earlier this week.

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Dopex is a decentralized options exchange, Popsicle Finance is a multichain yield optimization platform, Radio Caca is a non-fungible token (NFT) platform, and SPELL is the governance and utility token of decentralized finance platform Abracadabra.money.

DPX, which boasts a market capitalization of over $268 million, hit its all-time high of $1,992.31 on Monday. At time of writing, the altcoin is down about 5% from its record high, according to CoinGecko. DPX has surged by 331% over the past 30 days.

Popsicle Finance’s token ICE also hit an all-time high of $24.02 on Monday but is currently down by 22% from the new record high at the time of writing, according to CoinGecko. The platform boasts a market capitalization of over $247 million, and in the last 30 days, ICE has soared by 644%.

NFT platform Radio Caca saw its token hit an all-time high of $0.00271085 on Sunday. RACA is currently 25% off the high, according to CoinGecko. RACA has a market cap of over $374 million and is up by 381% over the past 30 days.

Spell Token (SPELL) also hit its all-time high of $0.02406690 on Sunday and is off 43% from its record high, according to CoinGecko. Over the last 30 days, SPELL has surged by 1107%. Spell Token boasts a market cap of over $830 million.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bakkt crypto exchange to debut on stock markets through SPAC

The Intercontinental Exchange, the owner the New York Stock Exchange and institutional cryptocurrency exchange Bakkt, announced a deal that would see its crypto arm listed on the stock markets.

As reported by the Wall Street Journal, Bakkt is set to merge with VPC Impact Acquisition Holdings, trading under the ticker VIH. VPC is a so-called Special Purpose Acquisition Company, or SPAC. It is a shell company whose only purpose is to buy or merge with another company and allow it to be listed on the stock markets without going through lengthy and expensive process of an initial public offering, or IPO.

Bakkt is expected to be valued at $2.1 billion after completing the merger. The exchange will also raise an additional $532 million to support the development of Bakkt App, a retail-centric wallet and rewards app.

Rumors of the acquisition surfaced earlier in January, as reported by Cointelegraph. Bakkt has seen an uptick in volume this year, posting several consecutive records. Nonetheless, it has a much smaller crypto market presence than its rival, CME.

The story is still developing.