Former Alameda Research CEO Caroline Ellison took the stand on Tuesday to testify to the alleged crypto fraud led by her and her ex-boyfriend, Sam Bankman-Fried. Ellison claimed that Alameda took over $10 billion FTX customer to pay off its loans, all at Bankman-Fried’s order. Caroline Ellison Speaks As summarized by Inner City Press on...Read More
Sam Bankman-Fried, founder of cryptocurrency exchange FTX, is making a bold move in his ongoing legal battle. Bankman-Fried is seeking to shed light on the involvement of lawyers in what prosecutors have termed a “$200 million sham” involving Alameda Research, the hedge fund arm of FTX. Wang’s Testimony Sheds Light on Legal Structure of Alameda...Read More
Robert Linus – project lead at Bitcoin development group ZeroSync – has proposed a new system allowing developers to “compute anything on Bitcoin,” giving it functionality more similar to its neighboring crypto network Ethereum. Unlike other proposals to expand Bitcoin’s capabilities, “BitVM” does not require any changes to Bitcoin’s code that could cause the network...Read More
Israeli authorities have frozen several cryptocurrency accounts allegedly linked to the Palestinian militant group Hamas. The operation was carried out in collaboration with the crypto exchange Binance, highlighting an increasing global trend towards monitoring and regulating digital currencies to prevent their misuse for illicit activities. Binance Assists Israeli Police in Halting Crypto Financing for Hamas...Read More
Ethereum, the second-largest blockchain network, suffered a substantial setback through a sandwich attack, losing over $9K. This data underscores an increasing problem of sandwich attacks in the crypto sphere, with over $1.3 million lost through such schemes in the past 30 days on the Ethereum chain. The Sandwich Attack According to Eigenphi’s data, on Oct....Read More
3Commas, a popular crypto trading bot, provides smart trading solutions for investors worldwide. Unfortunately, the popularity of the tool also makes it a big glowing target for bad actors, who are sometimes successful in their attempts at getting ahold of user data – or even the bot’s API data. Fortunately, the most recent attack was...Read More
The team at Friend.tech is taking a significant step towards bolstering user security by introducing a two-factor authentication (2FA) password feature. This security enhancement aims to protect users from the increasing threat of SIM-swap attacks, which have plagued the platform recently. Friend.tech Introduces Two-Factor Authentication (2FA) Passwords The move comes as a response to a...Read More
On-chain metrics show that Bitcoin is witnessing a significant shift in investor dynamics as the supply transition is changing in favor of long-term holders. According to the 75th edition of the Bitfinex Alpha Report, long-term Bitcoin holder supply has increased by more than one million bitcoin (BTC) since April 13, 2023, while short-term holder supply...Read More
TL;DR Deribit plans to launch linear options for XRP, SOL, and MATIC in January, targeting European markets and doubling down on derivatives trading. Despite its price fluctuations, XRP remains a popular choice for payments, with institutions like HSBC allowing its use. Following its legal victories against the US SEC, XRP might be on the verge...Read More
Crypto market intelligence platform Santiment has found that XRP Ledger (XRPL), a decentralized public blockchain that enables fast, low-cost, real-time transfers of XRP, fiat currencies, and digital assets, has been seeing less whale activity in 2023 compared to the last two years. In a post on X, the crypto analytics platform said that despite declining...Read More
TL;DR Jeremy Hogan estimates a 40% chance of a trial in 2024, a 32% chance of a settlement, and a 19% chance of an agreement by end of 2023. Some believe the SEC might extend the legal process to maintain uncertainty in the crypto sector. Yassin Mobarak suggests the SEC might drop charges against Ripple...Read More
Digital Asset Investment products experienced a popularity surge in the past 14 days or so after about 10 weeks of severe drops. The reports indicate a rising trend in the digital asset fund inflows, with $78 million flowing in last week, a twofold surge from the preceding one, whose inflow was over $25 million. Europe...Read More
TL;DR Binance CEO Changpeng Zhao expects Bitcoin (BTC) to reach new all-time highs after the April 2023 halving but advises against premature FOMO. CZ notes common patterns during BTC halvings, including hype, heightened expectations, and market unpredictability, emphasizing that BTC’s price won’t double overnight but will see adjustments and consolidation. CZ suggests that typically, a...Read More
The outbreak of the Israel-Hamas war has prompted several cryptocurrency firms, including MarketAcross, Collider Ventures, and the Israel Blockchain Association, to establish Crypto Aid Israel, a global fundraiser that seeks to help displaced Israeli citizens in need of humanitarian help. Thousands of Israeli lives have been destroyed by Hamas 💔 Israel WILL prevail 💪, but...Read More
In a bold move aimed at safeguarding consumers, the FCA added 145 digital asset companies, including major exchanges Huobi-owned HTX and KuCoin, to its warning list. This decision follows the FCA’s expansion of regulations to include cryptoasset service providers, regardless of their geographical location. Cracking Down on Crypto The United Kingdom’s Financial Conduct Authority (FCA)...Read More
Upbit, a South Korean cryptocurrency exchange, faced over 159,000 hacking attempts during the first half of 2023, as reported by its operating company, Dunamu. This figure represents a significant surge, with a 117% rise compared to the same period in 2022 and an astounding 1,800% increase compared to the first half of 2020. Upbit is...Read More
Coinbase’s Ethereum layer-2 protocol, Base, has recorded a significant rise in its total value locked (TVL) once again, hitting $558 million this time. According to data from Ethereum layer-2 analytics platform L2Beat, Base’s TVL surged by more than 25% in the past seven days, surpassing Matter Labs’ zero-knowledge (zk) rollup tech-powered scaling solution, zkSync Era,...Read More
Charles Hoskinson, the founder of the Cardano blockchain, has slammed the mainstream media and everyone who is trying to paint the wrongdoings of Sam Bankman-Fried (SBF), the indicted founder and former CEO of the bankrupt cryptocurrency exchange FTX, as mistakes, thereby making him look like a good man. In a recent post on X, Hoskinson...Read More
In the fast-paced world of cryptocurrencies, Bitcoin halving events are significant milestones that grab the attention of investors, traders, and enthusiasts worldwide, leading to speculation and anticipation among the community. Changpeng Zhao recently shared his thoughts and observations on the dynamics and sentiments surrounding Bitcoin halvings based on his experiences during the past three events....Read More
Despite an overall depressed market and now the specter of another war as tensions escalate in the Middle East, crypto experts and executives remain confident for the future. Many have been sharing their thoughts recently, and the Bitcoin halving narrative seems to be strengthening. There are various counters, but the general consensus is that this...Read More
Federal prosecutors in the ongoing fraud trial of ex-FTX CEO Sam Bankman-Fried have requested that the judge exclude any discussion of Bankman-Fried’s investment in Anthropic, an AI company. This request comes in light of recent media reports about Anthropic’s fundraises from tech giants Google and Amazon, potentially benefiting victims of the FTX collapse. Creditors Optimistic...Read More
In late September, HTX – Huobi’s rebranded global exchange – was hit by an attack that left it almost $8 million in the hole. The attacker made off with 4,997 ETH, worth about $7.9 million, from the exchange’s hot wallet. At the time, HTX CEO Justin Sun stated that the identity of the attacker had...Read More
Recent research conducted by the crypto market intelligence firm Messari has revealed that crypto fundraising in the third quarter of 2023 declined to levels last seen in the final quarter of 2020. According to the State of Crypto Fundraising report, the last quarter recorded new lows in both funding amounts and deal counts. The overall...Read More
Elliptic analysts had predicted that the amount laundered through DEXs, bridges, and coin swaps would rise to $6.5 billion by the end of 2023 and $10.5 billion by 2025. Blockchain analytics platform Elliptic has found through recent on-chain analysis that criminals, including the notorious North Korean hacking group Lazarus, have laundered approximately $7 billion of...Read More
Friend.tech’s Total Value Locked (TVL) has undergone a substantial decline recently, registering its most significant single-day drop of 7.8% in early October, indicating a noteworthy downturn in performance. Additionally, there has been a significant redemption of keys on Friend.tech, with reports of ongoing sim swap attacks casting a shadow over the network. Massive Drop in...Read More
A Nansen analyst recently published a report diving deep into the Solana ecosystem, exploring the on-chain data, network developments, and other findings. As per the findings, amidst challenges like network halts and the FTX/Alameda saga, the Solana blockchain shows significant resilience and continuous improvements, achieving a 100% uptime year-to-date. Solana’s Performance Till Date The report...Read More
In a recent post on the social platform X, Ross Ulbricht, the founder of the infamous darknet marketplace Silk Road, revealed that he has now spent an entire decade in prison. Ulbricht, currently serving a double life sentence, has been controversial since his arrest in 2013. Debate Erupts Over Ulbricht’s Punishment On Oct. 2, Ulbricht...Read More
Cosmos-based Stride has been on a roll lately. According to a recent Nansen report, the protocol currently commands more than 80% of the market share within the Cosmos ecosystem. Despite the prolonged market-wide bearish trend, Stride’s governance token – STRD – has surged 330% year-to-date. STRD surpassed both Ethereum (ETH) as well as the native...Read More
The move follows the imbroglio at the JPEX crypto exchange last month, which resulted in multiple arrests and the platform shuttering services. The unlicensed exchange is alleged to have defrauded investors out of $204 million. The task force is comprised of the city’s Securities and Futures Commission (SFC) and law enforcement officials, including representatives from...Read More
In a heartwarming tribute to one of the internet’s most iconic dogs, the Dogecoin community fundraised for a bronze statue of Kabosu, the Japanese Shiba Inu that inspired the beloved Doge meme and the Dogecoin cryptocurrency. The crowdfunding campaign, launched on Kabosu’s 17th birthday on Nov. 2, 2022, will end with the unveiling of the...Read More
