Major crypto exchange Bittrex has on Oct. 30 been given the go-ahead by the US bankruptcy court to shutter operations in the United States and also liquidate its assets to repay creditors. While the company is closing down its US business, the international arm based in Lichtenstein continues to serve customers in other jurisdictions. Bittrex...Read More
Telegram chatbot Unibot has lost around $640,000 worth of digital assets after a hacker managed to exploit a vulnerability in the newly deployed contract. The team behind the protocol said that it is currently investigating the issue and will soon release a detailed response. PeckShield reported that the attacker transferred the pilfered cryptocurrency to Uniswap,...Read More
The crypto community celebrated the 15th anniversary of Bitcoin’s whitepaper on Tuesday, which marked the world’s first functional pitch for “peer-to-peer electronic cash.” Among its celebrators was Gary Gensler – the chairman of the Securities and Exchange Commission (SEC) so notorious for his strict enforcement actions against the crypto industry. In a tweet on Tuesday,...Read More
Markets are turning away from bonds and into assets like Bitcoin (BTC) as “safe haven” stores of value as global war conflicts heat up, an Allianz Economist told CNBC in an interview last week. The analyst for the $2 trillion financial services firm explained why the Treasury market has been so volatile this month, and...Read More
According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, digital asset investment products received a total of $326 million in inflows, marking the highest weekly influx since July 2022. The asset manager speculated that the rising optimism from investors that the US Securities and Exchange Commission would approve a spot-based Bitcoin...Read More
Cryptocurrency exchange Bitfinex has released a report relaying its belief that the digital asset market may be in the early stages of a bull run. According to the latest edition of the Bitfinex Alpha report, several dynamics like bitcoin’s (BTC) ascent to the $35,000 price range and increasing institutional interest in the leading digital asset...Read More
OKX has released yet another monthly Proof of Reserves (PoR), which reveals that the Seychelles-registered cryptocurrency exchange is over-collateralized with $12.5 billion in primary assets backing user funds. The latest disclosure marks a full year of PoR reports beginning right after the collapse of FTX. OKX’s Proof of Reserves (PoR) encompasses 22 widely-used digital assets...Read More
According to a recent Coinbase research, the tokenization of financial assets has been steadily gaining momentum since 2017, bringing the evolution of digital financial assets, including sovereign bonds, money market funds, and repurchase agreements. As per the report, the growth has been dramatically buoyed by the existing high-yield environments but still faces huge infrastructural and...Read More
Focused on the DeFi industry, think of Injective Protocol in similar terms as Ethereum, Solana, and Cardano. It’s a Layer 1, open, interoperable blockchain optimized for Web 3.0 finance applications. The protocol has an average transaction cost of less than a penny, and it can handle thousands of transactions per second (TPS). With a market...Read More
The recent impressive rise of Bitcoin beyond the $35,000 threshold, a level not seen in 17 months, has initiated a ripple effect within the market. In direct response to this upswing, a notable $275 million in USD notional value worth of short positions was liquidated on October 23rd. According to Bitfinex Alpha Report, the magnitude...Read More
Bitcoin’s breakout rally in October has markets eagerly anticipating the cryptocurrency’s next moves. Trading at $28,000 on crypto exchanges to start the month, Bitcoin price (BTC) is poised to finish October well above $34,000. That’s a cool 21% monthly return on investment at the Oct 1st price. But where does the world’s leading cryptocurrency go...Read More
A letter from December 2020 reveals that renowned American legal scholar Joseph Grundfest advised former SEC commissioner Jay Clayton not to sue Ripple, as it would mean a systemic, international risk that could hurt a significant number of innocent XRP holders. John E. Deaton, from Crypto Law US, published the letter on a thread on...Read More
Stars Arena said that the platform’s CEO Chill Pill, resigned from their position, a move that comes nearly a month after the decentralized social finance (SocialFi) application suffered a major smart contract exploit. Meanwhile, the protocol’s total value locked (TVL) currently stands at a little above $300,000, a significant decrease from a TVL of nearly...Read More
In an effort to boost security, the BNB Chain has recently introduced a secure multi-signature wallet service known as BNB Safe{Wallet}. This service is built upon the Gnosis Safe protocol and is now accessible on both the Binance Smart Chain (BSC) and opBNB networks. The Gnosis Safe Multisig Wallet The BNB Chain has recently launched...Read More
While Binance remains the largest venue in the world for Bitcoin futures trading, another more regulated market is now following closely behind. CME Bitcoin Futures now stands as the second-largest Bitcoin futures exchange in the world by open interest, signaling rising intrigue from institutions seeking Bitcoin exposure. The Return of the CME to Bitcoin According...Read More
Crypto custody solution Zodia Custody, partly owned by the UK multinational banking institution Standard Chartered, is expanding its services to Hong Hong Kong as part of its latest push into the Asian market. Meanwhile, Hong Kong continues to serve as a major attraction for crypto companies looking to set up businesses in a cryptocurrency-friendly environment....Read More
BitMEX has made a strategic decision to enhance the utilization of Bitcoin block space and minimize withdrawal fees for its users. In a significant update, effective November 1, 2023, BitMEX will issue new Bitcoin deposit addresses to all its customers. BitMEX Reissues Bitcoin Deposit Addresses BitMEX has recently unveiled a significant update aimed at optimizing...Read More
The United Kingdom is set to implement new regulations allowing authorized financial firms to work with overseas stablecoins. The new regulatory framework will be supervised by the Bank of England, the Financial Conduct Authority (FCA), and the Payment Systems Regulator (PSR) with a focus on minimizing potential risks and ensuring customer protection. UK to Permit...Read More
Web3 domain service provider – Unstoppable Domains – has announced foraying the .com Namespace allowing users to purchase “.com” addresses. The decision to enter the world’s most popular type of traditional web2 top-level domain (TLD), which boasts over 157 million registrations through its website, aligns with its recent expansion efforts. Expansion According to the official...Read More
The rare UNI transfer by Uniswap Foundation had put significant pressure on the token over the past week. But the data suggest that “selling pressure has gotten exhausted.” The prominent on-chain analyst, Ali Martinez, believes that UNI could be on the verge of a breakout. UNI Gearing up for Breakout? Citing Intotheblock’s data, Martinez said...Read More
In a move that has sent shockwaves through the cryptocurrency market, a staggering 19,197 Bitcoin (BTC), equivalent to approximately $652 million, has been withdrawn from Binance, one of the world’s largest cryptocurrency exchanges. Notably, the withdrawal was carried out in two transactions as highlighted by Blockchain.com. This event has ignited intense speculation and discussions among...Read More
Research by blockchain security firm Hacken has found that most of the crypto projects rug-pulled in the third quarter of 2023 had no audit reports. According to the Q3 2023 Security Insights report, only 12 out of 78 examined rug pulls conducted and reported audits. Most Rugpulled Projects Are Not Audited An independent third-party audit...Read More
The United States is the world’s largest cryptocurrency market, accounting for 24.4% of global transaction activity, according to a recent report by Chainalysis. The report, released on October 23, revealed that there was an estimated $1.2 trillion in value received on-chain between July 2022 and June 2023 in the U.S. Moreover, institutional activity makes up...Read More
Galaxy Digital, the crypto venture led by U.S. billionaire Mike Novogratz, has projected a substantial capital influx into spot Bitcoin exchange-traded funds (ETFs). According to the estimations, these ETFs could witness an impressive $14.4 billion in inflows during their inaugural year, potentially reshaping the investment landscape. The venture contends that the allure of spot Bitcoin...Read More
In September, a Seattle startup lab of white hat hackers sent proof to a senior writer at WIRED Magazine that they could crack the IronKey S200 thumb drive containing 7002 Bitcoins. But former Ripple CTO Stefan Thomas incredibly refused an offer by the Seattle startup, named Unciphered, to access the USB drive for him. Fmr....Read More
Bitcoin price surged in a breakout rally to briefly touch $35,000 this month. But Euro Pacific Capital’s founder and chief global strategist doesn’t think it will last. This month saw the ever-widening buzz surrounding a hotly anticipated approval by the SEC of a spot Bitcoin ETF. The excitement has pushed blowout Bitcoin sales on crypto...Read More
South Korea has emerged as a global hotspot for cryptocurrency investment in recent years, according to a recent survey, with six million crypto investors representing over 10% of the country’s total population. This phenomenon has reshaped the financial landscape and highlighted the dominance of centralized exchanges in the Korean crypto market. A Closer Look at...Read More
The top 10 centralized crypto exchanges (CEXs) recorded a spot trading volume of $1.12 trillion in Q3 2023, indicating a significant plunge from the Q2 total of $1.42 trillion. According to the CoinGecko 2023 Q3 Crypto Industry Report, the third quarter spot trading volume for the top 10 CEXs represented a 20.1% decrease from Q2. Analysts...Read More
As different jurisdictions gear up for regulations on the digital asset sector, DeFi remains a tricky subject. The International Organization of Securities Commissions (IOSCO) had recently weighed in on the matter and recommended that governments should identify the “Responsible Person” behind ostensibly decentralized finance applications and subject them to regulatory oversight similar to conventional financial...Read More
In a recent study conducted by Coinbase, a paradigm shift has emerged among the young American population. An impressive 38% of younger Americans now believe crypto and blockchain technology can provide significant economic opportunities not commonly found in the traditional finance sector. Interestingly, this stands in stark contrast to older generations, where approximately 26% share...Read More
