Top cryptocurrency news on July 5: Major stories on Bitcoin, crytocurrency markets and NFTs – Moneycontrol.com

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Last Updated : July 05, 2021 / 08:02 AM IST

Top cryptocurrency news on July 5: Major stories on Bitcoin, crytocurrency markets and NFTs

A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.

  • Market Buzz

    Cryptocurrency market is in the green on July 5

    Cryptocurrency market is in the green on July 5


    Cryptocurrency prices continue to be in the mix of green and red on July 5. The global cryptocurrency market cap is $1.44 trillion, a 1.18 percent increase over the last day, while the total crypto market volume over the last 24 hours is $64.92 billion, which makes a 6.97 percent increase.  The volume of all stable coins is now $50.19 billion – 77.32 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently $35,821.92 and its dominance is currently 45.04 percent, a decrease of 0.47 percent over the day. Read full here.

  • Big Story

    Coinbase building an office in India, says CEO Brian Armstrong, makes open calls for jobs


    Coinbase CEO and co-Founder Brian Armstrong has said the company is expanding its team in India. In a tweet late on July 2, Armstrong said: “Coinbase is building out an office in India! Amazing team already in place – come join us.” While the tweet itself did not give more details, Armstrong linked a blog post titled ‘Building Crypto out of India’ by Pankaj Gupta, VP Engineering and Site Lead India, which outlined Coinbase’s plans for India. Gupta said the post shares the company’s “plans and ambitions in India and how we are thinking about this hub in general”. Read details here.

  • Now This

    Delhi Court orders Police to lodge FIR on fraud allegations by Bitcoin seller


    A Delhi court directed the Moti Nagar Police to register an FIR on the complaint of a Bitcoin seller after bank accounts to which funds were transferred by the accused for Bitcoin purchase were frozen and the transactions marked as illegal (Hitesh Bhatia vs. Mr. Kumar Vivekanand). Metropolitan Magistrate Abhinav Pandey ordered the investigation on a complaint by a person dealing with the sale and purchase of bitcoins through the online transaction portal “Binance” and opined that there was a need to probe the alleged fraud committed by the accused, as well as whether there was any wrongdoing on the part of the complainant-seller as well as the intermediary through which the bitcoin sales were completed, i.e. Binance. The Judge noted that, while cryptocurrency had not been prohibited in India, such virtual currency transactions would still have to comply with general laws such as “PMLA, IPC, FERA, NDPS Act, Tax laws, and RBI regulations regarding KYC (know your customer), CFT (Combating of funding of terrorism) and AML (Anti-money laundering requirements).” (Bar & Bench)

  • Around the World

    Crypto-related email attacks jump 192% amid growing Bitcoin buzz


    Growing crypto buzz has also triggered an increase in crypto-related cyberattacks. Particularly crypto-related email compromise attacks have increased by 192 percent during October 2020-May 2021 period, according to global cloud security solutions firm Barracuda. The researchers at Barracuda identified that the growing price of bitcoin has led to an increase in the volume of cryptocurrency-related attacks. India was among the countries with the highest cryptocurrency mining encounters and drive-by download attacks during the year, according to the updated India findings unveiled by Microsoft in July 2020 of its Security Endpoint Threat Report 2019. In 2019 crypto-related ransom demands ranged from a few thousand dollars to $2 million, according to Barracuda, while by mid-2021 most demands were in the millions, with a significant number over $20 million. (Financial Express)

  • What’s New?

    NFTs find credibility among Indians as crypto fever continues


    As high-net-worth individuals (HNWIs) continue to invest in cryptocurrencies and seek to diversify their portfolio, non-fungible tokens (NFTs) are slowly gaining asset-class credibility. Indians are also warming up to this new digital asset that has given creators and collaborators a fresh platform to earn better moolah while generating more value for their work. NFTs allow people to buy and sell ownership of unique digital items in cryptocurrencies, and keep track of who owns them using the Blockchain. NFTs can technically contain anything digital, including drawings, artworks, tweets, animated GIFs, songs or even video games. (The Economic Times)

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