Founder and former CEO of Digitex Futures Exchange, Adam Todd, has pleaded guilty to willingly leading the firm to fail to establish an Anti-Money Laundering (AML) program. Notably, the former CEO’s plea was issued in a federal court in the Southern District of Florida on May 7. Former Digitex CEO Pleads Guilty The U.S. Attorney’s...Read More
On May 11, the American businessman and television personality said if Joe Biden loses the presidential election, “there is a good chance you will be able to thank Gary Gensler and the SEC (Securities and Exchange Commission).” “Crypto is a mainstay with younger and independent voters,” he said before adding that SEC Chair Gensler “has...Read More
The leader in Bitcoin mining has announced its financial performance for the first quarter of 2024, revealing an improvement since its emergence from bankruptcy. The company reported a net income of $210.7 million compared to a net loss of $0.4 million for the same period in 2023. Core Scientific’s Q1 Results Total revenue surged to...Read More
Coinbase’s Layer 2 network – Base – has witnessed a resurgence of user activity. Franklin Templeton’s latest analysis revealed that Base has received significant traction from SocialFi applications such as Friend.Tech. Friend.Tech’s model, which financializes social interactions, has drawn attention, particularly with the launch of its version 2 platform and the airdrop of its FRIEND...Read More
Neel Somani, the founder and CEO of the Ethereum layer 2 blockchain project Eclipse, has announced a temporary reduction in his role following allegations of sexual misconduct. In a statement posted on May 9th, Somani addressed the accusations, asserting his innocence while acknowledging the seriousness of the situation. Somani Denies Sexual Misconduct Allegations The allegations...Read More
Kraken and the US Securities and Exchange Commission (SEC) remain embroiled in a dispute, as the crypto exchange filed a new document questioning the accuracy of the regulator’s case. The development comes three months after Kraken filed a motion to dismiss the SEC’s lawsuit against it. SEC’s Case Isn’t Worded Correctly Kraken recently filed a...Read More
Over the years, analysts and developers have touted Ethereum as a deflationary network, presenting the blockchain as ultrasound, aligning with Bitcoin’s sound money principle. However, that seems to have changed with the network’s latest upgrade. CryptoQuant analysts revealed in the firm’s latest weekly report that Ethereum ceased to be a deflationary network after the Dencun...Read More
The Bitcoin kimchi premium in South Korea has plummeted significantly amid a broader market decline, signifying weakened enthusiasm among digital asset investors in the country. According to data from CryptoQuant, the Bitcoin kimchi premium slumped to 1.5% on Friday during the afternoon trading session in Asia. Bitcoin Kimchi Premium Slumps For the uninitiated, the kimchi...Read More
With Binance founder and former CEO Changpeng “CZ” Zhao recently sentenced to four months imprisonment, a WSJ report is alleging that the crypto exchange giant fired one of its investigators who exposed market manipulation by one of the company’s clients, DWF Labs. Binance, however, denied the report, stating that the cryptocurrency exchange maintains a strict...Read More
The Nigerian government has denied the allegations made by Binance’s CEO, Richard Teng, claiming that its officials demanded a $150 million bribe to settle the criminal charges against the crypto exchange. In an official statement released on Wednesday, the Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, dismissed the claims as...Read More
Canada has imposed a fine against Binance – the world’s largest crypto exchange – for running afoul of the nation’s anti-money laundering rules last year. Per a public notice published on Thursday, the federal government said Binance didn’t comply with rules and registrations related to operating as a foreign money services business (FMSB). Binance Fined...Read More
MarketVector, a subsidiary of the renowned American asset management giant VanEck, has launched the MEMECOIN Index. It has shown impressive performance, surging 195% in the past year and 137% since the start of 2024. This index aims to track the performance of six popular meme coins, such as DOGE, SHIB, and others. VanEck’s MEMECOIN Index...Read More
The Bitcoin network’s mining difficulty has experienced its largest negative adjustment since December 2022, when the bear market was in full gear. According to data from the real-time Bitcoin dashboard Bitbo, the mining difficulty fell 5.7% to 83.1 trillion on Thursday at block height 842,688. Bitcoin Mining Difficulty Negatively Adjusts Bitcoin’s mining difficulty measures how...Read More
Former U.S. President Donald Trump has announced his intention to ensure cryptocurrency donations are accepted for his campaign donations. Trump is the Republican candidate for the upcoming U.S. presidential election scheduled for November 2024. Trump Pushes for Crypto Donations In various video clips posted to X by Frank Degods, a non-fungible token creator and influencer,...Read More
Cathie Wood-led Ark Invest has yet again slashed its holdings in Coinbase (COIN). The company sold 70,616 shares of Coinbase, totaling $15.1 million, spread across three of its exchange-traded funds on May 7th. The move came despite the positive first-quarter earnings report from the exchange, which showed higher revenue than expected and a record high...Read More
.A Republican-led effort to free American banks to provide crypto custody services has been shut down by the Democrat-led White House. On Wednesday, the House of Representatives discussed and prepared to vote on House Resolution 109 (H.J. Res. 109), which would strike down prior accounting guidance from regulators to banks planning to offer the service...Read More
Binance CEO Richard Teng has advocated for the release of Tigran Gambaryan, head of the crypto exchange’s Financial Crime Compliance team, who has been detained by the Nigerian government for over 70 days. Gambaryan reportedly flew to the country in February for talks on collaborative policy meetings, only to be detained later. This move by...Read More
A proposal to list and trade shares of prominent asset manager Grayscale’s Ether futures exchange-traded fund (ETF) has been withdrawn, as per a new document filed on Tuesday. The filing by the US Securities and Exchange Commission (SEC) revealed that the application for the Grayscale Ethereum Futures Trust ETF, filed by NYSE Arca, Inc. in...Read More
The individual associated with a recent $71 million wallet phishing attack has finally begun transferring the funds to new addresses. The scammer’s wallet remained inactive for the last six days after converting the stolen 1,155 WBTC into around 23,000 ETH. Scammer Transfers Stolen Crypto The bad actor stole Wrapped Bitcoin (WBTC) on May 3 after...Read More
Layer 2 networks have witnessed massive activity this year, even as their native tokens slumped amidst intense volatility across the broader market. These solutions have witnessed relatively steady activity since the beginning of the year. However, the latest analysis by IntoTheBlock revealed that Base continues to be the primary attraction for new capital. Investors Flock...Read More
During the ongoing cycle, BTC and ETH have witnessed a growing divergence in their respective performances. According to Glassnode’s findings, this can be attributed to a general trend of weaker capital rotation, particularly in comparison to previous cycles and all-time high breakthroughs. Ethereum Receives Weak Capital Flows Leading up to bitcoin’s peak established on March...Read More
Entertainment-focused zkSync hyperchain Sophon has raised roughly $60 million in less than a week after commencing its node sale. According to an announcement sent to CryptoPotato, the $60 million raised will be added to a $10 million raised over a month ago in a funding round led by several top crypto firms, including OKX Ventures,...Read More
FTX filed an amended Plan of Reorganization and Disclosure Statement with the bankruptcy court on May 7 as part of its ongoing case. The firm has proposed a way to repay creditors between $14.5 billion and $16.3 billion, which it has recovered from selling assets and consolidating funds from various entities. It owes customers and...Read More
Susquehanna International Group, a quantitative trading firm, revealed its investments in Bitcoin exchange-traded funds (ETFs) during the first quarter of 2024. According to a 13F-HR filing submitted on May 7, the firm disclosed its ownership of more than $1 billion in exchange-traded funds (ETFs). Susquehanna’s Crypto Portfolio The filing, submitted to the Securities and Exchange...Read More
Bitcoin prices have remained tightly rangebound since their return above the psychological $60,000 level on May 3. However, one prominent analyst sees the asset potentially recovering the $70,000 level this month, a price it has not seen since April 12. BTC to Climb Higher? On May 8, Adrian Zduńczyk, aka “crypto_birb,” told his 652,000 X...Read More
Digital asset investment products experienced outflows for the fourth consecutive week, amounting to $251 million. The past week marked the first “measurable outflows” from newly issued ETFs in the US, totaling $156 million last week. According to the latest edition of Digital Asset Fund Flows Weekly Report, the average purchase price of these ETFs since...Read More
One of crypto’s most powerful government nemeses believes journalists question him about the burgeoning asset class way more than necessary. Securities and Exchange Commission (SEC) chairman Gary Gensler appeared for a nine-minute interview with CNBC on Wednesday and blamed the host for asking for such an “outsized ratio” of crypto-focused questions. Gensler Is Tired Of...Read More
On May 7, the crypto oracle solutions provider announced that RD Technologies was integrating Chainlink CCIP and Proof of Reserve to power its Hong Kong dollar stablecoin. Chainlink’s Cross-Chain Interoperability Protocol will be integrated to enable secure and reliable cross-chain transfers of HKDR and easier access to the new stablecoin. Additionally, the firm is also...Read More
The hacker behind the attack on cryptocurrency exchange Poloniex in November 2023 recently transferred over 1,100 Ether (ETH) to sanctioned crypto mixer Tornado Cash. The hacker sent the Ether in batches while still holding over $180 million worth of assets across different blockchains. Poloniex Hacker Launders 1,120 ETH According to data from Arkham Intelligence, the...Read More
Hong Kong’s Bitcoin ETFs experienced their first setback after launching on April 30, following their first cumulative daily BTC outflows on Monday. The outflow came from the China Asset Management Bitcoin ETF, while the other Hong Kong-based products had no flows. Hong Kong ETFs See Modest Inflows According to Farside data, the China AMC Bitcoin...Read More
