Cathie Wood’s asset management firm Ark Invest has predicted that the price of Bitcoin (BTC) could soar to $2.3 million if institutions allocated a substantial portion of their investable asset base to it. The asset manager made the prediction in its research report named Big Ideas 2024, explaining the hypothetical impact that institutional investments and...Read More
Cryptocurrency exchange Binance has frozen $4.2 million worth of XRP following the largest hack of 2024, which saw $112 million stolen from Ripple co-founder Chris Larsen’s personal wallet on January 31. Binance CEO Richard Teng announced the news on social media platform X, where he revealed that the exchange successfully froze the address of the...Read More
Crypto lender Genesis Global has settled with the U.S. Securities and Exchange Commission (SEC) in a lawsuit related to its bankrupt Gemini Earn lending program. As part of the deal, Genesis has agreed to pay a $21 million civil penalty, contingent upon the full repayment of customers during its ongoing bankruptcy proceedings. Genesis Agrees to...Read More
A trader has reportedly turned an initial investment of five Ethereum (ETH) into an impressive $3.3 million by strategically buying and selling the PORK token. The massive gain was accomplished through a well-timed investment in the recently launched PepeFork (PORK) cryptocurrency, according to analysts by Lookonchain. Trader Invests 5 ETH in PORK The trader initially...Read More
The Open Exchange, or OPNX, is closing down this month, according to an email sent to users. “We would like to inform you that OPNX.com will officially cease operations and shut down in February 2024.” Customers were advised to settle their positions by Feb. 7 and withdraw their money by Feb. 14. OPNX shutting down...Read More
In a court case that happened recently – and whose transcripts were made available today – the identities of those behind the $400 million FTX exploit that took place shortly after the bankruptcy was declared were uncovered. However, FTX was not the sole victim of the hacks. According to the court documents, a total of...Read More
El Salvador’s Vice President, Felix Ulloa, affirmed on Wednesday that Bitcoin would continue to be legal tender in the country during President Nayib Bukele’s second term. The announcement follows the IMF’s request to reevaluate the cryptocurrency as legal tender during ongoing negotiations for a substantial billion-dollar loan. El Salvador’s Bitcoin Commitment Unwavering As El Salvador...Read More
The Biden Administration is imposing new reporting requirements on all U.S. cryptocurrency miners to disclose data related to how much electricity they consume. The so-called “Emergency Survey” marks another attempt by the U.S. government to curb the negative excesses of Bitcoin mining, which Democrats have widely criticized for polluting the environment. The Emergency Bitcoin Mining...Read More
Polygon Labs – the main development team behind the Ethereum scaling network Polygon (MATIC) – has laid off 19% of its workforce in an attempt to create a more “efficient surgical team.” Though 60 employees were laid off in the process, the remaining workers have been granted a minimum 15% salary raise, effective as of...Read More
Ben Armstrong, widely known as “Bitboy,” has announced the discontinuation of his daily crypto show, bringing an end to a three-year run that garnered a significant following. The decision comes amid financial challenges and legal battles that have been plaguing the influential crypto personality. Financial Strain and Mounting Legal Bills Armstrong revealed the news through...Read More
The popular actor and comedian Larry David has expressed remorse over participating in a high-profile 2022 Super Bowl commercial for the now-fallen cryptocurrency exchange FTX. Notably, Sam Bankman Fried, the FTX founder, was imprisoned after he was found guilty of fraud, conspiracy, and money laundering last year. Larry David Reflects on FTX Ad Regret Speaking...Read More
The Europen Union is developing rules and regulations that could be equivalent to a defacto ban on Bitcoin by 2025. Moreover, the European Central Bank (ECB) is spearheading the effort with support from two other major banks. On Jan. 31, Bitcoin environmentalist and venture capitalist Daniel Batten reported that the Bank of International Settlements (BIS)...Read More
Celsius Network has announced emerging from bankruptcy, concluding an eighteen-month process with the confirmation of its plan of reorganization. The agreement includes the distribution of a $3 billion payout to its creditors as well as the creation of Ionic Digital, which will be owned by Celsius’ creditors, who will own equity in the form of...Read More
A Chinese-British woman, Jian Wen, is facing charges in London for allegedly helping a fugitive, Yadi Zhang, launder Bitcoin (BTC) obtained from proceeds of a previous investment fraud that affected nearly 130,000 investors. Authorities seized devices holding over 61,000 Bitcoin that came from $6.34 billion previously stolen by Zhang from investors in China. A Fake...Read More
Block Inc., a fintech company co-founded by former Twitter CEO Jack Dorsey, has laid off some of its employees, making it the second time in two months that the company is cutting down on its workforce. The cuts are in line with a previous statement by Dorsey, who said that the firm is aiming to...Read More
As stated in an SEC filing on Tuesday, the ETF provider Global X has withdrawn its application for a spot in Bitcoin ETF. The CBOE BZX Exchange submitted a notice of withdrawal for the Global X Bitcoin Trust on January 26, roughly two weeks after the SEC approved 11 other spot Bitcoin ETFs. Global X...Read More
Defunct crypto exchange FTX expects to pay its customers and creditors back “in full” after the company’s collapse over a year ago left counterparties billions of dollars in the hole. Given its optimistic projections, the team overseeing the bankruptcy has also dropped plans to potentially relaunch the exchange. FTX Plans A Full Asset Recovery During...Read More
Alex Chriss, the CEO of payment company Paypal, announced to the staff on Tuesday that an additional 9% of the workforce, approximately 2,500 positions, will be cut. The development follows PayPal’s decision to reduce its headcount by around 2,000 in January of the previous year. Paypal Further Reduces Workforce In a letter, the newly appointed...Read More
The highly-anticipated Dencun upgrade of Ethereum was successfully deployed on the Sepolia testnet on Jan. 30. This marks the second deployment out of three planned testnet launches, bringing the Ethereum community one step closer to embracing the features of Dencun. Smooth Sailing on Sepolia Testnet Terence Tsao, from Prysmatic Labs, the team behind the Prysm...Read More
Robert Kiyosaki, renowned for his book “Rich Dad Poor Dad,” is gaining attention for his strong endorsement of Bitcoin (BTC). The author positions Bitcoin as a key defense against what he perceives as systematic wealth erosion orchestrated by institutions such as the Federal Reserve, Treasury, and Wall Street bankers. Why Kiyosaki Owns Bitcoin In his...Read More
Worldcoin’s legal problems are far from over. Spearheaded by OpenAI, Sam Altman’s Worldcoin initiative continues to find itself embroiled in a privacy controversy as reports emerge of a probe launched by Hong Kong’s data protection authority. HKET, a local media outlet, disclosed that six Worldcoin booths were subjected to investigation under a court warrant, with...Read More
Bitfinex, one of the oldest cryptocurrency exchanges, has announced the launch of a securities trading platform in El Salvador, the first country to recognize bitcoin (BTC) as legal tender. According to a press release seen by CryptoPotato, Bitfinex Securities El Salvador will be the Central American country’s first registered and licensed digital assets service provider....Read More
Chris Larson, Ripple’s co-founder and executive chairman, has lost over $100 million worth of XRP to hackers in a security breach, according to a recent tweet by prominent crypto analyst ZachXBT. Reporting the incident on Wednesday afternoon, ZachXBT stated that the hackers stole approximately 213 million XRP worth around $112 million from one of Ripple’s...Read More
A significant uptick in the flow of BTC from miner wallets to spot exchanges was flagged on January 29th, marking the highest volume since May 16, 2023. According to CryptoQuant’s analysis, over 4,000 BTC, equivalent to approximately $173 million, entered these exchanges, signaling substantial selling pressure. Interestingly, despite this influx, the market appears to have...Read More
DEBT Box, a company that primarily provides users of its services with crypto mining software, was taken to court last year by the SEC. According to the regulator, DEBT Box had defrauded investors to the tune of $50 million by selling unregistered securities. The company, which provides an ecosystem to go along with its software,...Read More
DeFi regulation has been a major bone of contention among regulatory watchdogs across the world. A recent paper, authored by Rebecca Rettig, Katja Gilman from Polygon Labs, and Michael Mosier from Arktouros, proposes a strategy to classify truly decentralized DeFi protocols as critical infrastructure. This classification would place them under the oversight of the US...Read More
The US Department of Justice (DOJ) has brought charges against three people for defrauding investors of nearly $2 billion. According to the DOJ, the individuals promoted a fraudulent cryptocurrency investment program that promised investors high returns. A $1.89 Billion Crypto Scam In a press release on Jan. 29, 2024, the DOJ said that Sam Lee,...Read More
Mark Cuban recently took to X on Monday afternoon for a spontaneous Ask Me Anything (AMA) session with his 8.8 million followers, where he touched on various topics, including crypto-related ones. When asked about his preferred cryptocurrency ventures beyond Bitcoin and Ethereum, Mark Cuban highlighted Polygon and Injective, declaring, “I’ve invested in both (DYOR).” Dallas...Read More
German police officers executed a historic crypto seizure earlier this month, claiming over 50,000 Bitcoin (BTC) from two aged men for copyright law violations over a decade ago. Worth $2.1 billion at today’s price, the action represents the largest ever Bitcoin seizure for German authorities, and one of the largest ever executed by law enforcement...Read More
The market share of the world’s largest cryptocurrency exchange Binance has recovered significantly after plunging in the second half of 2023 due to several factors, including a massive settlement with U.S. regulators two months ago. According to a tweet from crypto market data provider Kaiko, the market share of the leading trading platform has risen...Read More
