On July 25, Avalanche stated that it was on a mission to “pioneer the future of asset tokenization.” Tokenization is poised to be one of the most impactful blockchain innovations of the next decade, it stated. Today, the Avalanche Foundation introduces Avalanche Vista, a $50M initiative to pioneer tokenization on #Avalanche Tokenization is poised to...Read More
Blockchain security company Quantstamp has agreed to pay ~$3.5 million in fines to settle charges against it from the U.S. Securities and Exchange Commission (SEC) on Friday – without confirming or denying allegations. The settlement marks another successful crackdown from the agency against a crypto company for violating securities laws, which industry leaders say lack...Read More
The Federal Reserve rose its target interest rate by 25 basis points on Wednesday, in line with market expectations. This brings the central bank’s rate to over 5.25% – one of its highest levels since the lead-up to the 2008 financial crisis. The latest hike marks the Federal Reserve’s 11th rate hike over its last...Read More
In a significant development in the US crypto landscape, senior Democrats in the House of Representatives have voiced their opposition to a comprehensive overhaul of financial laws pertaining to crypto assets. However, they have also indicated that a deal on the regulation of stablecoins could be within reach. The Proposed Bill Failed To Meet Expectations ...Read More
Bitcoin whales typically capture the stagnant market conditions to accumulate more coins. This trend continued even during the underwhelming price performance of Bitcoin in recent months, as new analysis suggests a dramatic uptick in whale activity during the period. Glassnode’s latest edition of “The Week On-Chain,” observed that the aggregate Whale balance has declined by...Read More
According to the crypto market data provider Kaiko, Bitcoin’s correlation with the S&P 500 Index has dropped to a two-year low at just 3%, highlighting the asset’s increasing independence from traditional finance. Some experts have argued over the years that such a development could act as a catalyst and push BTC’s price to a new all-time...Read More
An appeal by the U.S. Securities and Exchange Commission (SEC) against Judge Analisa Torres’ ruling on XRP will affirm the decision, according to Stu Alderoty, the chief legal officer (CLO) of Ripple Labs. During an interview with TechCrunch’s Chain Reaction, Alderoty said the judge’s decision was right as it was a “faithful application of the...Read More
Craig Wright is not someone to stay out of the spotlight for a long time. In the latest development, the self-proclaimed Bitcoin creator was ordered to pay approximately $516,000 (400,000 British pounds) in security covering legal costs to pursue claims against crypto exchanges Coinbase and Kraken. The lawsuit against Coinbase and Kraken’s parent company Payward...Read More
[PRESS RELEASE – HONG KONG, HONG KONG, July 26th, 2023] OKX, a leading crypto exchange by trading volume and Web3 technology company, has published its industry-best ninth consecutive monthly Proof of Reserves (PoR), showing a balance of USD$11.3 billion in BTC, ETH and USDT. OKX’s PoR covers 22 commonly used digital assets and demonstrates that...Read More
On the 25th of July, EraLend was hit by a reentrancy attack that allowed an unknown bad actor to make off with about $3.4 million worth of crypto. A reentrancy attack, a type of cyberattack affecting smart contracts, is one of the most common exploits against DeFi protocols. In it, a bad actor identifies a...Read More
In its long and infamous legal battle with the US SEC, Ripple Labs successfully disputed the categorization of its XRP token as a security. The victory echoes throughout the cryptocurrency community, not only benefiting the company but providing newfound optimism within the crypto sphere. Bracing for an SEC Appeal: An Opportunity in Disguise? Despite this...Read More
The past two years have been nerve-wracking for employees of crypto trading platforms, as lawsuits by various regulatory bodies, declining profits, and other market conditions have unfortunately forced even the strongest to conduct layoffs. Binance, Kraken, and Coinbase have all been forced to dismiss employees numbering in the thousands. The biggest layoff spree was conducted...Read More
Bitcoin has been trading within the $28k to $32k range for nearly four months. Historically, the crowd has been known to get very polarized when a top crypto asset goes for an extended period of time in a tight price range. Investors now have the option of thousands of other assets when they become restless...Read More
[PRESS RELEASE – Palo Alto, California, USA, July 25th, 2023] GEODNET’s growing Global Network of 3000+ web3 GNSS Base-stations is recognized by industry as a leading commercial solution for Real-Time Kinematic (RTK) applications The GEODNET Foundation (GeoDAO PTE, LTD) announced the completion of a private $1.5M token sale at EthCC (The Ethereum Community Conference). The...Read More
