September of 2023 was a great month for Bitcoin mining companies. While the crypto world has been focused on the high-profile court cases regarding SBF and Celsius’ Mashinsky, Bitcoin miners have steadily been improving their hash rates, promising a greater future supply of the first cryptocurrency. News of record outputs from three Bitcoin mining firms...Read More
Although the most violent months of inflation increases in the developed world seem to be behind us, there are still countries where the rising costs of essential goods are threatening the local economies and people. Moreover, many economists are predicting higher inflation rates in the upcoming months coming back to the US and other nations,...Read More
Galxe, a Web3 credential project, instructed users not to interact with the platform following a security breach on its website. Meanwhile, on-chain sleuth ZachXBT says the hackers are likely the same as the rogue actors that recently attacked Balancer’s front end. Galxe reported the security incident via its official X handle on October 6, asking...Read More
The hacks against cryptocurrency projects continue in full force, with the latest victim being the Avalanche-based social app – Stars Arena. According to early estimations, the perpetrators have swiped almost all funds (roughly $2.9 million in AVAX) from the platform, which later apologized and raised hopes to make users whole again. Launched about a week...Read More
South Australian police have arrested an individual charged with drug trafficking and money laundering involving crypto on the dark web. The police seized cash, illicit drugs, electronic devices, and cryptocurrency worth $1.5 million belonging to the accused individual. Drug Trafficker Supposedly Received Payment in Crypto An investigation carried out by the South Australian police, which...Read More
FTX co-founder Gary Wang revealed more details of Alameda Research’s corrupt relationship with his exchange during Sam Bankman-Fried’s fraud trial on Friday. During his testimony, Wang claimed that the function required for Alameda to steal client funds had been baked into FTX’s computer systems back in 2019. Alameda’s Special Privileges As summarized by Inner City...Read More
To broaden its European business landscape, Kraken, an already prominent virtual currency exchange network, just declared its intention to acquire Coin Meester B.V. (BCM), a respected crypto broker based in the Netherlands. This strategic acquisition aims to cement Kraken’s foothold in the European region while enhancing compliance with the changing regulatory climate. Kraken Acquiring BCM...Read More
Solana Compass has recently provided insights into the latest Solana (SOL) network activity, specifically during its 512 epoch. According to the website that tracks SOL staking activity, an estimated 19.637 million SOL tokens were unstaked during this period. In the recent Epoch 512, 19.637 million SOL were unstaked, with a net unstake of 16.516 million...Read More
A Q3 2023 on-chain report by crypto market intelligence firm IntoTheBlock revealed that addresses holding at least 0.1% of bitcoin’s (BTC) supply saw strong net inflows throughout the year’s third quarter. IntoTheBlock said these addresses recorded a single-day inflow of $600 million despite BTC plunging to $25,000, showing they are quietly bullish. Strong Net Inflows...Read More
With the global cryptocurrency market struggling with the bears seemingly in control, stablecoins are also facing a tough time. Over the past 18 months, the stablecoin market capitalization has experienced a consecutive decline in valuation, Binance’s research division revealed. Stablecoin Market Cap Drops to $123.8B Citing on-chain analysis on the blockchain price tracking platform DeFiLlama,...Read More
TL;DR The Shiba Inu team resolved a SHIB Telegram account hack, with security measures like two-factor authentication (2FA) implemented. A fake BONE token airdrop was promoted via the compromised account; Vet Kusama warned the community. Shiba Inu officials consistently alert the community about potential scams and advised caution with the SHIB-related Calcium (CAL) token. Fixing...Read More
The prosecution and defense teams in the criminal trial against Sam Bankman-Fried (SBF), the indicted founder and former CEO of the bankrupt cryptocurrency exchange FTX, seem to be hinged on the testimony of Caroline Ellison, the former CEO of FTX’s sister trading firm Alameda Research. According to a Bloomberg report, both parties are seeking to...Read More
On Oct. 6, Capriole Fund founder Charles Edwards observed the hodl waves for long-term Bitcoin holders. He noted that the recent massive growth in long-term Bitcoin holders is comparable only with 2016. The jump will have big consequences in 2024, he said adding that this was not seen in the last bull cycle, meaning that...Read More
FTX’s C-Suite has been, for the most part, cooperative with the authorities. Excluding Ryan Salame – who preferred not to say anything for the moment to avoid incrimination – and two other execs who left before the collapse and have not been accused of any wrongdoing, they’ve pleaded guilty and agreed to testify in court....Read More
Paris-based cryptocurrency hardware wallet manufacturer Ledger is reducing its staff by 12%, citing macroeconomic headwinds and a prolonged bear market as reasons for its decision. The French company raised $109 earlier in 2023 million in a funding round to reach a valuation of around $1.4 billion. Ledger Chairman and CEO Paul Gauthier announced the news...Read More
Jaynti Kanani, one of the co-founders of Polygon, recently announced that he would be stepping back from his day-to-day involvement with the project. This announcement arrives when developers are involved in realizing Polygon 2.0, a project aimed at seamlessly integrating zero-knowledge proofs. Kanani Announces Departure from Polygon Kanani, who played a pivotal role in the...Read More
The lone scammer has managed to abscond with approximately $385,000 worth of Ether (ETH) in under 24 hours. This incident forms part of a string of SIM-swapping hacks targeting users of the popular platform Friend.Tech. Scammer Steals 234 ETH in Less Than 24 Hours Blockchain investigator ZachXBT took to X on Oct. 5 to report...Read More
BitMEX co-founder and macro-analyst Arthur Hayes recently predicted that Bitcoin’s price will soar between $750,000 and $1,000,000 per coin within roughly 3 years. His prediction, which is far more bullish than that of most analysts, rests on a macroeconomic thesis that all financial assets are due for an unprecedented boom. The Biggest Bull Market Ever...Read More
Former BlackRock managing director Steven Schoenfield, who now serves as the CEO of MarketVector Indexes, predicts that the U.S. SEC will approve a Spot Bitcoin ETF within three to six months. Schoenfield shared this estimate during a panel discussion on ETFs at CCData’s Digital Asset Summit in London, where he was joined by another ex-BlackRock...Read More
Amid the ongoing trial of FTX co-founder and former CEO Sam Bankman-Fried, a report has surfaced stating that some of the company’s employees based in the United States found a hidden backdoor allegedly used by Alameda Research to siphon billions worth of customer funds from FTX, six months before the crypto exchange’s eventful fall. The...Read More
Ethereum’s network fees have plunged to some of their lowest levels, with this week recording an average of $1.13, a price last seen in November 2022. Crypto analytics firm Santiment revealed in a post on X that while the latest discovery may not be a perfect signal, it could indicate that ether (ETH) is preparing...Read More
In a fresh wave of money transfers, the notorious FTX account drainer has caused significant disruption in the crypto community by moving a total of 60,000 ETH from 4 wallet addresses since late September. As per reports, the wallets that just a few days ago held close to 200K ETH now have a balance of...Read More
Marc-Antoine Julliard, a London-based cocoa beans trader who lost $100,000 to the bankrupt cryptocurrency exchange FTX, was the first witness to testify against the exchange’s founder and former CEO Sam Bankman-Fried (SBF) at the start of his trial. According to a CNBC report, Julliard chose FTX in 2021 when he decided to diversify into crypto...Read More
As Binance exits the Russian cryptocurrency market, Russian clients are transitioning their trading activities to different platforms. However, CommEX, the company that acquired Binance’s Russian business, is encountering difficulties attracting these users. This migration has been accompanied by a notable drop in peer-to-peer (P2P) trading activity, with a decline ranging from 10% to 30%, according...Read More
TL;DR The SHIB Telegram admin account was compromised, leading to a fraudulent BONE token airdrop announcement. Vet Kusama alerted the community about the fake token distribution, urging people not to click on related links. Shiba Inu community members are advised to be cautious, as there are consistent threats from scammers impersonating legitimate projects and figures....Read More
With jury selection finished, FTX co-founder Sam Bankman-Fried’s (SBF)’s trial is officially underway, with prosecutors and defense lawyers delivering their opening statements on Wednesday. During his remarks, SBF’s lawyer Mark Cohen asserted that the former exchange tycoon “didn’t defraud anyone,” instead pointing the finger at Binance CEO Changpeng Zhao (CZ) for causing a “run on...Read More
According to Michael Lewis’ book “Going Infinite,” Binance CEO Changpeng “CZ” Zhao turned down an offer in March 2019 from former FTX CEO Sam Bankman-Fried to invest $40 million in creating a cryptocurrency futures exchange. Binance, originally a spot crypto exchange, decided to develop a futures exchange internally instead of accepting an offer from Bankman-Fried....Read More
In a landmark development for the Canadian digital assets market, TMX Group, the largest exchange in the country, is set to launch Bitcoin (BTC) futures contracts on its derivatives trading platform. As per reports, Montréal Exchange’s (MX) move to launch a Bitcoin Price Index Futures is in response to the growing market demand for this...Read More
Maker’s native token – MKR – suffered significant losses during the market crash triggered by TerraUST in May 2022. During that period, DAI stood out as one of the leading stablecoins utilizing an algorithmic mechanism, a feature it shared with the ill-fated UST stablecoin. Following the widespread bearish downturn, the MakerDAO team swiftly implemented measures...Read More
On Wednesday, Ripple Markets APAC Pte Ltd announced that its Singapore subsidiary has successfully obtained a payments license from the Monetary Authority of Singapore (MAS) to operate in the city-state without transaction thresholds. This license represents a significant milestone for Ripple, allowing it to provide regulated digital payment token services in the city-state. MAS Approves...Read More
