Genesis and its parent company, the Digital Currency Group (DCG), have proposed a compensation plan for over 230,000 retail creditors. This move aims to relieve users of Gemini’s Earn Program and is to be voted on later this year, potentially resulting in creditors recovering between 95-110% of their claims. Genesis Earn Users to Get Potential...Read More
Despite a lull in the broader crypto market, the industry is buzzed with excitement as heavyweight financial institutions throw their hats into the ring for a spot Bitcoin ETF. The latest one to join the race is – Franklin Templeton. In the fast-paced world of crypto, nothing lasts for a very long time. This also...Read More
Following the collapse of Three Arrows Capital, co-founders Zhu Su and Kyle Davies dropped off the map. Since then, they’ve occasionally resurfaced on X to make oblivious and out-of-place posts excusing them of any wrongdoing and to announce the launch of their new business ventures, namely the exchange platform OPNX and a new hedge fund...Read More
Bankrupt cryptocurrency exchange FTX has been approved by the bankruptcy court to liquidate its crypto assets worth $3.4 billion. Meanwhile, the company’s former CEO, Sam Bankman-Fried, may stay in prison until his scheduled trial in October after a US Judge denied his requests for a pretrial release. Judge John Dorsey of the US Bankruptcy Court...Read More
Russia is working on ways to legalize and regulate decentralized financial organizations, popularly known as DAOs, to bring more liquidity within the local Digital Financial Assets (DFA) market. The Director of the Department of Financial Policy of the Ministry of Finance, Ivan Chebeskov, made the comments at the Crypto Summit 2023. Russia Legalizing DeFi DAOs...Read More
Some of the most trending memecoins in the past few months – SHIB, BONE, and LEASH – have captured the attention of numerous cryptocurrency exchanges. One such marketplace that recently listed the assets on its platform is the Australia-based GroveX. SHIB, BONE, and LEASH Expand to Australia The crypto exchange announced the news on X...Read More
Ripple has secured some vital collaborations this year, including the deal with the Swiss-based crypto custody provider Metaco and the one with Fortress Trust (a financial institution focused on digital currencies). According to some experts, those efforts could benefit the blockchain enterprise by allowing it to provide various services and opportunities to users. Ripple Been...Read More
The popular Web3 wallet has officially unveiled a novel feature called ‘Snaps,’ which paves the way for its expansion beyond the confines of Ethereum. This marks a new dawn for developers and users of Metamask, who will benefit from interoperability and compatibility for different non-EVM blockchains. The inception of this feature traces back to a...Read More
Nasdaq, the renowned stock exchange, has officially filed with the Securities and Exchange Commission (SEC) to list an Ethereum ETF in partnership with Brazilian asset manager Hashdex, who expressed interest in holding both spot ether and futures contracts. Nasdaq Partners with Hashdex on ETH ETF Application The partnership will result in the creation of the...Read More
The price of Curve DAO (CRV) tokens briefly fell below $0.40 on Wednesday as over-the-counter (OTC) transfers made by the DeFi project’s founder, Michael Egorov, were later transferred to Binance. As reported by blockchain security firm PeckShield, one of Egorov’s counterparties from last month. transferred 609,000 CRV tokens to Binance on Wednesday. When investors send...Read More
Following a period of substantial capital inflows at the beginning of the year, the recent months have witnessed a shift towards either neutral or negative inflows, suggesting a period of stagnation as uncertainty took over the asset class. According to blockchain intelligence platform Glassnode, the market has been hovering on a relatively neutral level since...Read More
Binance continues delisting certain cryptocurrencies. It’s the world’s largest cryptocurrency exchange, and it’s important to keep tabs on the coins that are being removed from it because this usually carries certain implications. The exchange doesn’t cite the exact reason for its decision but says that there are multiple factors, low liquidity, and trading volume being...Read More
BitMEX co-founder Arthur Hayes said that the recent decision by the United States Federal Reserve (Fed) to lower interest rates is expected to trigger a rapid surge in Bitcoin’s price, potentially propelling it toward the $70,000 mark. Hayes had previously predicted that Bitcoin would reach this level after March, but the Fed had increased interest...Read More
North Korea’s notorious state-backed Lazarus Group is speculated to be behind the $55 million hack of crypto exchange CoinEx. According to prominent on-chain sleuth ZachXBT’s latest update, the attackers “accidentally” connected their address to the $41 million hack of the betting platform Stake.com. Just a day after the exploit, the investigator flagged an Ethereum wallet...Read More
Telegram Messenger has announced its integration of the Open Network-based self-custodial crypto wallet, TON Space. Shortly after the strategic partnership made the news, the price of Toncoin (TON) soared by double digits. TON Space Integrates with Telegram TON Space, built on The Open Network (TON), TON Foundation’s decentralized blockchain, is now integrated with Telegram. This...Read More
Things have settled down a little since the SEC’s court losses against Ripple and Grayscale. However, the head of the federal regulator remains committed to crushing the industry by enforcement actions rather than regulation. In written testimony to the Senate Banking Committee on Sept. 12, Gensler said: “There is nothing about the crypto asset securities...Read More
The US Judge in charge of Sam Bankman-Fried’s case has denied the former FTX CEO’s repeated requests for a temporary release from jail to make adequate preparations ahead of his upcoming trial. Sam Bankman-Fried, who maintains his not-guilty plea to all charges levied against him, is scheduled to appear in court in October. No Pretrial...Read More
Brad Garlinghouse – Chief Executive Officer of Ripple – revealed in a recent interview with Bloomberg that 80% of the the crypto firm’s staff hiring this year will be outside the United States. Recall that the entity has an ongoing legal battle with the US Securities and Exchange Commission (SEC). The latter accused the former...Read More
President and CEO of Binance.US, Brian Shroder, has exited the cryptocurrency exchange as the company faces legal actions from US regulators. Shroder, who assumed his position in 2021, will be replaced by the Chief Legal Officer of Binance.US, Norman Reed, on an interim basis, according to Bloomberg, citing the exchange’s spokesperson. Binance.US also slashed one-third...Read More
Derivatives marketplace Bitget has unveiled the ‘Bitget EmpowerX Fund’ that is designed to boost the platform’s ecosystem development. According to the press release shared with CryptoPotato, the focus will be on seeking investment opportunities in regional exchanges, data analytics firms, media organizations, and other entities that contribute to the growth of its ecosystem. The EmpowerX...Read More
With less than a month left before Sam Bankman-Fried’s court case is due to begin, DOJ officials have been rushing to put the final touches to their arguments. Since the outcome will be decided by a jury, the DOJ has spent a while formulating questions for members of the jury to ensure that they are...Read More
Market depth is an interesting concept to understand, especially for those who are into cryptocurrency trading. In essence, it’s a way to gauge how liquid a certain cryptocurrency is and if its order book is healthy and can consume a certain number of orders. That said, Ripple’s XRP is one of the most traded altcoins...Read More
In the latest twist to the Celsius bankruptcy saga, founder Alex Mashinsky is requesting the court to dismiss the Federal Trade Commission’s (FTC) case against him. Mashinsky Arrested on Multiple Fraud Counts According to a Sept. 11 court motion, Mashinsky’s legal team argued that the FTC’s allegations do not contain the necessary elements to support...Read More
The pseudonymous X (Twitter) user “Shib Informer” believes that the price of Shiba Inu will go up once investors display a huge appetite for the memecoin. According to them, such a demand could be triggered by lowering the fees on Shibarium and increasing its utilization. “Shib Informer” thinks that having “really low” transaction fees could...Read More
Global cryptocurrency exchange CoinEx has been hacked for at least $29 million, with blockchain sleuths identifying a series of suspicious transactions leaving the firm’s hot wallets. Crypto security platform Cyvers reported the breach on Tuesday, calling on CoinEx to halt all deposits and withdrawals immediately. The hack occurred across three different blockchains, involving a wide...Read More
Token burns have become particularly popular throughout the past years in the cryptocurrency market as more projects are resorting to this method of reducing their primary token supply. The process of burning tokens, however, is different and varies from one project to another, with the only common denominator being its purpose. That’s why it’s important...Read More
The global crypto adoption is down, but there’s more to the story. Lower middle-income (LMI) countries, for one, have demonstrated an extremely promising crypto adoption trend. This cohort of countries constitutes 40% of the world’s population. Hence, if they are the future, they could be a big part of the crypto future, according to Chainalysis’...Read More
While some people believe that the prolonged crypto winter is near its end, this is not the case with Messari’s CEO – Ryan Selkis. He thinks the market could suffer an additional blowback in the near future, arguing that the current situation is worse than the one observed in 2019. Selkis took it to X...Read More
The market remains in an “apathetic” state, with digital asset funds experiencing outflows totaling $59 million last week, bringing the total outflows in this streak to $294 million. This represented 0.9% of total assets under management (AuM). Digital asset manager Coinshares attributed these movements primarily to ongoing concerns about the regulatory environment for the asset...Read More
Shiba Inu official and Marketing Strategist of Shibarium, going by the name LUCIE (on X/Twitter), alerted the community about malicious projects containing the name of the memecoin and its recently launched layer-2 blockchain solution. They retweeted a previous statement shared by the Shiba Inu developer Kaal Dharyia, where he urged people to conduct proper due...Read More
