Meanwhile, crypto assets continue to decline in what has been a divergence from tech stock markets, which continue to see growth. Last week’s economic reports painted a rosy picture of a robust economy, resilient consumer spending, and gradually cooling inflation. This is the fuel for the Federal Reserve to ease its monetary policy, with investors...Read More
A London resident has become the first person in the UK to be charged with operating a Bitcoin ATM without proper registration. Habibur Rahman, 37, of Langdon Crescent, East Ham, was arrested on April 28, 2023, following a raid by Kent Police at a gadget shop in Chatham. Medway Trader Faces Charges for Laundering £300,000...Read More
Over the last five decades, the payments industry has grown into one of the largest and fastest-growing sectors in the world. However, it faces one issue – the sector still runs on 50-year-old technology rails that become more inefficient as time passes. A report from Binance Research, the research division of Binance, the world’s largest...Read More
These are the findings of a new research report on “PolitiFi coins” from CoinGecko published on Aug. 27. The report noted that PolitiFi tokens outperformed meme coins, rising 782.4% between January 1 and August 25, 2024, while memes rose around 90% during the same period. The firm described PolitiFi tokens as a subset of the...Read More
BTC’s price is down by nearly 10% on a weekly scale and this is perhaps no surprise given the substantial outflows seen from the spot Bitcoin ETFs in the States. ETH is in an even worse state weekly, while the spot Ethereum ETFs continue to struggle to capture investors’ interest. Bitcoin ETFs on a Negative...Read More
Australians reportedly lost at least AUD 180 million (approximately $122 million) to cryptocurrency investment frauds over the past year. Victims under 50 now make up around 60% of scam reports, overtaking older Australians, who are typically considered more vulnerable to such projects. Crypto-Based Investment Scams in Australia The data, gathered by the Australian Cyber Security...Read More
The Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit has reportedly apprehended 14 individuals involved in a $12.8 million (16 billion won) crypto mining scam. The operation’s ringleader, a man in his 40s identified only by his surname Lee, went to extraordinary lengths, including undergoing plastic surgery, to avoid detection by law enforcement. Mastermind Had...Read More
In a concerning trend, TRM Labs found that illicit activity at crypto ATMs is significantly higher than in the broader crypto industry. This has prompted law enforcement and regulators across the world to leverage blockchain intelligence to investigate fraud and financial crime involving these machines. Increasing Illicit Activity at Crypto ATMs According to the latest...Read More
The old Twitter joke about laser-eyed Bitcoin maxis being “psychopaths” may be more than just a meme. Yet another peer-reviewed study has found that crypto holders are more likely to exhibit “dark tetrad” personality characteristics than the general population, among other quirks. Are Bitcoin Holders Really Psychos? Published July 3, researchers from the University of...Read More
The cryptocurrency market took a massive hit in August 2024, losing over $310.94 million to a series of devastating hacks, scams, and exploits, according to the data shared by the on-chain security firm CertiK Alert. This substantial crypto loss in a single month was the second-largest loss so far in 2024, while the biggest $324.7...Read More
Bitcoin’s price fell below $60,000 on Tuesday and Wednesday after posting big gains over the weekend following the Fed’s pivot to lower interest rates. The spot price briefly peeked over $65,000 before coming back down. But Bloomberg’s McGlone is bearish despite the market’s moves. He thinks BTC’s apparent lack of enthusiasm might signal a slow-going...Read More
The demand for bitcoin (BTC) in the United States has been increasing following Federal Reserve chair Jerome Powell’s comments at last week’s Jackson Hole symposium. However, this increase has not extended to the rest of the crypto market. According to a CryptoQuant report, BTC rallied on the back of rising investor interest in the U.S.,...Read More
It’s safe to say that the highly-anticipated 2024 bitcoin bull run is not going as planned, even though the asset managed to break its 2021 all-time high early on. However, it has lost some traction and speed on the way toward the coveted $100,000 mark, but Perplexity listed some of the factors that could propel...Read More
The U.S. Securities and Exchange Commission (SEC) has brought charges against two brothers for running a $60 million Ponzi scheme. Notably, the complaint was filed on August 26 in the United States District Court for the Northern District of Georgia in Atlanta. SEC Freezes Assets in Scam According to the regulator’s filing, Jonathan Adam and...Read More
High centralization can lead to increased influence by a few entities, potentially undermining the decentralized ethos that crypto strives to uphold. However, centralization continues to be a major bone of contention in space. As such, popular project tokens – Polygon (MATIC) and Shiba Inu (SHIB) – have emerged as the leading examples of high concentration...Read More
Ethereum co-founder Vitalik Buterin has once again transferred a large amount of ETH, sparking fresh discussions within the crypto community. According to a report from Lookonchain, Buterin moved 800 ETH with an estimated value of $2.01 million to a multisig wallet. Shortly after, 190 ETH from this wallet was swapped for 477,000 USDC, a stablecoin...Read More
Pepe (PEPE) the popular and third-biggest meme coin is gaining notable attention from traders and investors due to the ongoing dumps by whales. On August 30, 2024, the PEPE whale once again dumped over 330 billion tokens worth $2.53 million to the Kraken cryptocurrency exchange and booked a loss of over $3.13 million, as reported...Read More
The Bitcoin hash price, a metric measuring miner revenue per terahash or computing power, has fallen to its lowest level ever. According to recent data, this is a sign of upcoming bullish momentum. A Quicktake by CryptoQuant analyst Woominkyu revealed that the current level of the bitcoin hash price indicates a good buying opportunity. A...Read More
Bitcoin appears to be struggling to position itself above $60,000. The world’s largest crypto asset by market cap is yet to recover from the fall earlier this week. As a result, its weekly losses compared to the surge last Friday stand at about 10%. However, its reserves on exchanges hitting new lows for the year...Read More
The iShares Bitcoin Trust (IBIT), issued by BlackRock, the world’s largest asset management firm, just recorded its first day of outflow in almost four months. Data from Farside Investors shows that IBIT investors withdrew $13.5 million from the fund on Thursday, August 29. The last time the BlackRock spot Bitcoin exchange-traded fund (ETF) recorded a...Read More
Elon Musk, the CEO of Tesla Inc., has won the dismissal of a high-profile $258 billion lawsuit accusing him and his company of manipulating the price of Dogecoin (DOGE), the popular meme-based cryptocurrency. On Thursday, U.S. District Judge Alvin Hellerstein ruled in favor of Musk and Tesla, dismissing the claims made by a group of...Read More
In this bearish market sentiment, cryptocurrencies are experiencing significant selling pressure. Amid this ongoing market downturn, on August 29, 2024, Ripple traders booked over $8.25 million in profit, according to the data from the on-chain analytic firm Santiment. XRP Price Under Pressure Historically, significant profit booking often leads to a massive price drop or increased...Read More
The Singapore-based cryptocurrency exchange Crypto.com has partnered with Standard Chartered, the leading multinational banking institution, to offer fiat services to retail users worldwide. According to a press release shared with CryptoPotato, Standard Chartered will provide the exchange with banking and payment solutions to enable the deposits and withdrawals of the United States dollar (USD), the...Read More
The leading Bitcoin layer-2 network, Stacks, has commenced implementing its Nakamoto upgrade, which will enhance functionality and integration with its base blockchain. According to a press release shared with CryptoPotato, Stacks began the Nakamoto Activation Sequence on August 28. The process has four key steps, including the final code delivery, Cycle 92; the upgrade period...Read More
Polygon (MATIC) has been experiencing a decline in network activity since the broader crypto market retrace began in March. However, recent data shared by the crypto analytic platform Santiment indicates a potential shift in this trend. Bullish Reversal for Polygon (MATIC)? Polygon’s native token, MATIC, has lost over 17% of its value in the past...Read More
The X account of French football star Kylian Mbappe was reportedly hacked on August 29, with the attackers posting multiple messages promoting a suspicious cryptocurrency named ‘$MBAPPE.’ The posts, which also included opinions on contentious topics such as the Israel-Palestine conflict, caught the attention of many, leading to significant financial losses for some. Investor Loses...Read More
A long-dormant Bitcoin (BTC) address has been reactivated after more than 11 years of inactivity. The wallet, which holds 100 BTC, was brought back to life on August 29, according to blockchain tracking service Whale Alert. Worth a mere $14,202 when the address was last used in 2013, the crypto stash has jumped by more...Read More
The Open Network (TON) faced yet another setback this week, with its second major outage within 36 hours, which temporarily disrupted blockchain functionality. During this period, the TON network has endured over 12 hours of outages in total. TON Network Buckles Under Pressure The network went offline at 7:17 pm UTC on August 28, and...Read More
The AI and semiconductor giant announced its second-quarter earnings on Aug. 28 with a net income increase to $16.6 billion. The tech giant reported revenue of $30 billion, up 122% year-over-year and 15% quarter-over-quarter. The bullish revenue report could boost the burgeoning artificial intelligence sector and have a knock-on effect on crypto assets, but that...Read More
Cryptocurrency projects heavily focus on incentivization to generate interest in their brand and products. Airdrops serve as a dual-purpose strategy, both introducing users to the project and rewarding them, effectively functioning as a combined marketing and reward system. There has been a good number of airdrops this year. Ethereum co-founder Vitalik Buterin highlighted the potential...Read More
