This week in crypto:* Blockchain.com and Coinbase secure Singapore licences* Coinbase and Google Cloud announced a strategic partnership* DeFi platform Mango hit by $100 million exploit* Uniswap raises $165 million in its latest funding round* Crypto.com launches its European headquarters in France* Tron becomes the national blockchain of the Commonwealth of DominicaRead More>> https://rb.gy/88yi5j

This week in crypto:* Blockchain.com and Coinbase secure Singapore licences* Coinbase and Google Cloud announced a strategic partnership* DeFi platform Mango hit by $100 million exploit* Uniswap raises $165 million in its latest funding round* Crypto.com launches its European headquarters in France* Tron becomes the national blockchain of the Commonwealth of DominicaRead More>> https://rb.gy/88yi5j

Crytwo Magazine

Week 41: 2022: This week in crypto

Hackers have so far stolen $718 million from DeFi protocols in October, which could yet be the biggest month for hackers, Chainalysis said in a report.Total value hacked and the number of hackings across the decentralised finance (DeFi) ecosystem has shot up over 2022, with billions stolen in what is turning out to be the biggest year for hackers in cryptocurrency. According to blockchain security and analytics firm Chainalysis, October has seen 11 different hacks targeting DeFi protocols. As the month reaches halfway, hackers have syphoned more than $718 million through security exploits.

Hackers have so far stolen $718 million from DeFi protocols in October, which could yet be the biggest month for hackers, Chainalysis said in a report.Total value hacked and the number of hackings across the decentralised finance (DeFi) ecosystem has shot up over 2022, with billions stolen in what is turning out to be the biggest year for hackers in cryptocurrency.According to blockchain security and analytics firm Chainalysis, October has seen 11 different hacks targeting DeFi protocols. As the month reaches halfway, hackers have syphoned more than $718 million through security exploits.

Hackers have already stolen $3 billion worth of crypto in 2022

In this episode of NewsBTC’s daily technical analysis videos, we are looking at the total cryptocurrency market cap with Bitcoin being so boring. We also compare past crypto winters to see when the deep freeze might end.

In this episode of NewsBTC’s daily technical analysis videos, we are looking at the total cryptocurrency market cap with Bitcoin being so boring. We also compare past crypto winters to see when the deep freeze might end.

Total Crypto Market Cap Meltdown

Polygon co-founder Sandeep Nailwal said the blockchain portal will greatly improve the quest for justice.Indian Police have launched the country’s first complaints portal powered by the Polygon blockchain, according to details published earlier this week. As shared by Polygon co-founder Sandeep Nailwal on Wednesday, the portal is for ‘first information report (FIR) and was developed for the Indian state of Uttar Pradesh’s Firozabad Police. Police Complaint on Blockchain Cryptocurrencies might yet face more regulatory hurdles from the Indian government, but blockchain technology continues to see growing adoption. One of the major news this week has been the piloting of the new blockchain-powered system for the Firozabad police. Announced this week, the ‘Police Complaint on Blockchain’ is built on the Polygon’s modular blockchain, which offers a customised network for specialised functionality. In this case, the system is enable FIR accessibility and in so doing help curtail instances of report manipulation as well as the blocking of such reports across the system. Per the Firozabad police, anyone seeking to lodge grievances will be able to do so via a special QR code available at all Firozabad police stations. “With an FIR (first information report) going on blockchain, specifically if people can get online platform to file these with their identity, no lower level officers can deny the FIR. This could be a game-changer in ensuring the right to justice,” Nailwal explained in tweet. Users will benefit from features such as transparency and immutability of filed reports, something that has been lacking amid allegations of corruption among officers.  Kashif Raza, the founder of Web3 focused platform Bitinning, says Polygon powering the complaints portal also makes reporting easy and verifiable.

Polygon co-founder Sandeep Nailwal said the blockchain portal will greatly improve the quest for justice.Indian Police have launched the country’s first complaints portal powered by the Polygon blockchain, according to details published earlier this week.As shared by Polygon co-founder Sandeep Nailwal on Wednesday, the portal is for ‘first information report (FIR) and was developed for the Indian state of Uttar Pradesh’s Firozabad Police.Police Complaint on BlockchainCryptocurrencies might yet face more regulatory hurdles from the Indian government, but blockchain technology continues to see growing adoption.One of the major news this week has been the piloting of the new blockchain-powered system for the Firozabad police.Announced this week, the ‘Police Complaint on Blockchain’ is built on the Polygon’s modular blockchain, which offers a customised network for specialised functionality. In this case, the system is enable FIR accessibility and in so doing help curtail instances of report manipulation as well as the blocking of such reports across the system.Per the Firozabad police, anyone seeking to lodge grievances will be able to do so via a special QR code available at all Firozabad police stations.“With an FIR (first information report) going on blockchain, specifically if people can get online platform to file these with their identity, no lower level officers can deny the FIR. This could be a game-changer in ensuring the right to justice,” Nailwal explained in tweet.Users will benefit from features such as transparency and immutability of filed reports, something that has been lacking amid allegations of corruption among officers. Kashif Raza, the founder of Web3 focused platform Bitinning, says Polygon powering the complaints portal also makes reporting easy and verifiable.

Police Complaint on Blockchain

Crypto exchange Coinbase has announced in a press release that it has received preliminary regulatory approval from Singapore’s monetary authority (MAS) to offer crypto services in Singapore. Following the in-principle approval, Coinbase can now offer “regulated digital payment token products and services in Singapore.”Following the approval in Singapore, Coinbase has become one of the few crypto exchanges that have successfully gone through the painfully lengthy and rigid licensing process enacted by the MAS. In an interview with Financial Times, the top fintech officer at MAS, Sopnendu Mohanty, claimed that the regulatory body had enacted the “painfully lengthy and rigid licensing process for institutions to prohibit bad behaviour rampant in the crypto sector.” Coinbase expansion into Singapore Coinbase has quietly been expanding its presence in Singapore has launched a technical hub in the region and increasing its efforts to hire Web3 personnel in the city-state. Coinbase Venture arm has also invested in more than fifteen Singaporean Web3 startups in a push to boost crypto adoption in Singapore. Besides announcing the regulatory approval, Coinbase’s press statement also added that the company’s CEO and co-founder, Brian Armstrong would be attending a stage event in Singapore alongside MAS’s chief fintech officer. The statement reads: “We are also excited to confirm that our CEO and co-founder, Brian Armstrong, will be taking the stage at the Singapore Fintech Festival on November 4th, in a fireside chat with Sopnendu Mohanty, the Chief Fintech Officer at MAS.” In the recent past, Singapore has grown into a global finance hub housing a large number of fintech institutions, asset managers, hedge funds, insurance firms, and corporate banks. This growing pool of fintech institutions has also expressed a desire to explore the budding crypto industry including investing some stake in some of the sector’s digital assets. Prior to Coinbase’s in-principle approval, the MAS had granted in-principle approval to Crypto.com.

Crypto exchange Coinbase has announced in a press release that it has received preliminary regulatory approval from Singapore’s monetary authority (MAS) to offer crypto services in Singapore. Following the in-principle approval, Coinbase can now offer “regulated digital payment token products and services in Singapore.”Following the approval in Singapore, Coinbase has become one of the few crypto exchanges that have successfully gone through the painfully lengthy and rigid licensing process enacted by the MAS.In an interview with Financial Times, the top fintech officer at MAS, Sopnendu Mohanty, claimed that the regulatory body had enacted the “painfully lengthy and rigid licensing process for institutions to prohibit bad behaviour rampant in the crypto sector.”Coinbase expansion into SingaporeCoinbase has quietly been expanding its presence in Singapore has launched a technical hub in the region and increasing its efforts to hire Web3 personnel in the city-state.Coinbase Venture arm has also invested in more than fifteen Singaporean Web3 startups in a push to boost crypto adoption in Singapore.Besides announcing the regulatory approval, Coinbase’s press statement also added that the company’s CEO and co-founder, Brian Armstrong would be attending a stage event in Singapore alongside MAS’s chief fintech officer.The statement reads:“We are also excited to confirm that our CEO and co-founder, Brian Armstrong, will be taking the stage at the Singapore Fintech Festival on November 4th, in a fireside chat with Sopnendu Mohanty, the Chief Fintech Officer at MAS.”In the recent past, Singapore has grown into a global finance hub housing a large number of fintech institutions, asset managers, hedge funds, insurance firms, and corporate banks. This growing pool of fintech institutions has also expressed a desire to explore the budding crypto industry including investing some stake in some of the sector’s digital assets.Prior to Coinbase’s in-principle approval, the MAS had granted in-principle approval to Crypto.com.

Coinbase gains regulatory approval in Singapore

Portugal working on new crypto tax legislation to levy 28% capital gains taxAn official report released by the Portuguese government shows that the country is working on a new cryptocurrency tax legislation scheduled for enacting in 2023. The new legislation intends to levy a 28% capital gains tax on crypto profits, a 4%, and stamp duties on any free cryptocurrency transactions. 28% capital gains tax If the proposed crypto legislation sees the light of day, the Portuguese government will levy a 28% capital gains tax on crypto profits made within a year. However, gains made for holding cryptocurrency assets for a year will not be subjected to the capital gains tax. According to the 450-page report, gains made from crypto issuing and crypto mining would be subject to the capital gains tax. 4% tax on crypto transactions In May this year, the Portuguese finance minister said that the country was preparing to start taxing cryptocurrencies, stating that work would begin on working on the legal framework. The minister had however declined to provide the legal timeframe at the time.

Portugal working on new crypto tax legislation to levy 28% capital gains taxAn official report released by the Portuguese government shows that the country is working on a new cryptocurrency tax legislation scheduled for enacting in 2023.The new legislation intends to levy a 28% capital gains tax on crypto profits, a 4%, and stamp duties on any free cryptocurrency transactions.28% capital gains taxIf the proposed crypto legislation sees the light of day, the Portuguese government will levy a 28% capital gains tax on crypto profits made within a year. However, gains made for holding cryptocurrency assets for a year will not be subjected to the capital gains tax.According to the 450-page report, gains made from crypto issuing and crypto mining would be subject to the capital gains tax.4% tax on crypto transactionsIn May this year, the Portuguese finance minister said that the country was preparing to start taxing cryptocurrencies, stating that work would begin on working on the legal framework.The minister had however declined to provide the legal timeframe at the time.

Portugal working on new crypto tax

Trading crypto in the bear market is one of the toughest times for most traders, including advanced traders, but as the saying usually goes, the bear market produces the best of traders, and millionaires are born. Trading with the right skills and implementing your strategy to the very least is like exposing yourself to risk that could cost your life but, in this case, your trading portfolio.&nbsp;Having the right psychology, patience, and trading with the right strategies gives you an edge over huge investors and institutions. Most traders and investors look for strategies with the best profitability and result, thereby increasing their earning potential. Most&nbsp;technical analysis strategies, when combined appropriately, yield huge success. Let us discuss how the supply and demand zone as a strategy is used by institutions to enable them to trade with the best possible outcome. We will also see how to combine the supply and demand zone with other trading strategies.What Is Supply And Demand Areas? It is key to understanding that the market always moves in cycles, and getting a hang around this concept allows you as a trader to trade and best position yourself to get the best result out of the market. There are four common market cycles or market structures that traders should know. They are the uptrend, downtrend, accumulation, and distribution phases.&nbsp; The concept of demand and supply revolves around the different market structures the market forms after some time. The supply zone is the price area or zone where sellers are more dominant and want to sell an asset at a considerable price, thereby preventing the price from going higher. The demand zone is the price area or zone where buyers are more dominant and want to buy an asset at a considerable price, thereby preventing the price from going lower. How To Identify Supply And Demand Zones? Supply and demand zones can be easily identified by looking at the chart, as they are not difficult to find. Here is a simple step to find either supply or demand zones. <ul><li>Examine the chart for consecutive large consecutive candles. The price must move rapidly.</li><li>Determine the base (usually a sideways price action area) from which the quick move began.</li></ul> How To Trade Supply And Demand Zones With Pin Bar Pattern One of the most highly used patterns in trading is the pin bar pattern, used to spot potential price reversal from an uptrend or a downtrend. Let us discuss how this pattern with the supply and demand area is highly effective. From the chart above, the formation of a demand area with pin bar patterns indicates a potential price reversal to the uptrend, confirmed by the price moving upward.

Trading crypto in the bear market is one of the toughest times for most traders, including advanced traders, but as the saying usually goes, the bear market produces the best of traders, and millionaires are born. Trading with the right skills and implementing your strategy to the very least is like exposing yourself to risk that could cost your life but, in this case, your trading portfolio.&nbsp;Having the right psychology, patience, and trading with the right strategies gives you an edge over huge investors and institutions. Most traders and investors look for strategies with the best profitability and result, thereby increasing their earning potential. Most&nbsp;technical analysis strategies, when combined appropriately, yield huge success. Let us discuss how the supply and demand zone as a strategy is used by institutions to enable them to trade with the best possible outcome. We will also see how to combine the supply and demand zone with other trading strategies.What Is Supply And Demand Areas?It is key to understanding that the market always moves in cycles, and getting a hang around this concept allows you as a trader to trade and best position yourself to get the best result out of the market.There are four common market cycles or market structures that traders should know. They are the uptrend, downtrend, accumulation, and distribution phases.&nbsp;The concept of demand and supply revolves around the different market structures the market forms after some time.The supply zone is the price area or zone where sellers are more dominant and want to sell an asset at a considerable price, thereby preventing the price from going higher.The demand zone is the price area or zone where buyers are more dominant and want to buy an asset at a considerable price, thereby preventing the price from going lower.How To Identify Supply And Demand Zones?Supply and demand zones can be easily identified by looking at the chart, as they are not difficult to find. Here is a simple step to find either supply or demand zones.Examine the chart for consecutive large consecutive candles. The price must move rapidly.Determine the base (usually a sideways price action area) from which the quick move began.How To Trade Supply And Demand Zones With Pin Bar PatternOne of the most highly used patterns in trading is the pin bar pattern, used to spot potential price reversal from an uptrend or a downtrend. Let us discuss how this pattern with the supply and demand area is highly effective. From the chart above, the formation of a demand area with pin bar patterns indicates a potential price reversal to the uptrend, confirmed by the price moving upward.

Trading In The Zones

Crytwo explores the world of blockchain and cryptocurrency through stories on social impact, innovative use-cases, and prominent builders.

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