Kim Nam-guk, a former South Korean lawmaker from the Democratic Party, is under legal scrutiny for allegedly concealing substantial cryptocurrency holdings in his 2021 and 2022 asset declarations. He is accused of omitting millions in crypto profits and transferring assets to bank accounts. Hidden Crypto Profits A local news outlet, Donga, prosecutors have requested a...Read More
Cryptocurrency enthusiasts are turning to meme coins over traditional assets like Bitcoin (BTC) and Binance Coin (BNB), according to the latest study conducted by Binance. The findings, released on December 18 as part of the Binance Global User Survey, sampled over 27,000 customers across Asia, Australia, Europe, Africa, and Latin America. Meme Coins Outpace Bitcoin...Read More
Federally approved digital asset securities platform Prometheum has filed a defamation lawsuit against crypto commentator Matthew Blumberg. The dispute stems from a November 6 post on X, where the critic accused the firm of operating “an illegal unregistered commodities exchange” and engaging in shady dealings with the U.S. Securities and Exchange Commission (SEC). Free Speech...Read More
The Federal Court of Australia has imposed an $8 million fine on Bit Trade, the operator of the cryptocurrency exchange Kraken in the country, for offering an unapproved margin lending product to local customers. The penalty follows allegations by the Australian Securities and Investments Commission (ASIC) that the firm violated financial regulations by failing to...Read More
According to the second annual Global Survey on Crypto and Web3 by Consensys, emerging markets are spearheading global cryptocurrency adoption. The report reveals that countries like Nigeria, South Africa, and the Philippines are driving significant growth in awareness, ownership, and participation in crypto-related activities. Emerging Markets at The Forefront The survey shows that 93% of...Read More
Coinbase has responded to allegations of unjust account restrictions following weeks of heated discourse on X. The exchange’s support account, @CoinbaseSupport, posted a detailed thread addressing the situation. Support Clears Out the FUD The controversy began after several users on X shared screenshots showing notices from Coinbase indicating transaction restrictions. One user tagged Sean Clarke,...Read More
The Financial Times (FT) has issued a controversial “apology” after Bitcoin breached the $100,000 mark on December 5, 2024. The apology, published on FT Alphaville, the publication’s daily news commentary service, was perceived by many as a backhanded admission of its failure to foresee Bitcoin’s rise. FT’s ‘Apology’ The article, written by Bryce Elder, City...Read More
Massachusetts Senator Elizabeth Warren is reportedly set to become the Ranking Member on the Senate Banking Committee, replacing Sherrod Brown after his exit. The shift comes despite major efforts by the cryptocurrency industry, which spent about $40 million to unseat Brown. Warren’s Upcoming Role Many crypto advocates saw the departure of the three-term Ohio senator,...Read More
With former Donald Trump’s re-election to the U.S. presidency, Andreessen Horowitz, also known as a16z, is projecting a regulatory climate more favorable for the cryptocurrency industry. The venture capital firm believes this could transform most crypto tokens into “legitimate and lawful” financial tools. Innovation Within Regulatory Boundaries In a November 10 post, a16z acknowledged questions...Read More
The CEO of WonderFi, a prominent Canadian cryptocurrency holding company, was reportedly hijacked during rush hour in Toronto and later released after paying a ransom of a million Canadian dollars, or about $720,000. Dean Skurka was forced into a vehicle by assailants on Wednesday but was released unharmed after the money was paid. Skurka Reassures...Read More
Detroit residents will soon be able to pay their taxes and other city fees with cryptocurrency as part of the city’s drive to modernize and attract blockchain businesses. According to the local Office of Treasury, when it launches in mid-2025, this new payment option will make Detroit the largest U.S. city to accept cryptocurrency payments....Read More
Crypto advocates may soon be celebrating a major political shift, with results from the 2024 U.S. election showing hundreds of pro-crypto candidates winning seats in Congress. The results have come in the wake of the sector flexing its political and financial muscles, spending more than $238 million to grow its influence in the American legislative...Read More
Robinhood has reported a 112% year-over-year increase in cryptocurrency trading volume, reaching $14.4 billion in the third quarter of 2024. However, this surge comes amid a decline in trading activity compared to earlier in the year, with volumes peaking at $36 billion in the first quarter and dropping to $21.5 billion in the second quarter....Read More
According to cybersecurity firm PeckShieldAlert, the cryptocurrency space faced approximately 20 hacking incidents in October 2024, with total losses reaching around $88.47 million. Five significant breaches accounted for most of the losses, with Radiant Capital experiencing the largest setback. The Top October Crypto Hacks The firm revealed that among the top five incidents in October...Read More
The top holder of the popular meme coin HarryPotterObamaSonic10Inu, also known by its ticker “BITCOIN,” is alleged to have offloaded a massive 24 million tokens resulting in a 60% price crash. Blockchain tracker Lookonchain was the first to report the transaction, in which the anonymous holder exchanged 24 million units of the meme token for...Read More
Swiss-based decentralized trading platform dYdX has announced a 35% reduction in its core workforce. Platform CEO Antonio Juliano initially shared the news in a brief post on X, calling the decision “sad” while promising to provide more measured reasoning for the action later. A Leaner dYdX In the social media post, the CEO stressed that...Read More
A recent investigation has linked popular YouTube personality James Stephen Donaldson, better known as MrBeast, to over $23 million in alleged profits from various cryptocurrency trades that may involve insider trading. According to a report by advisory firm Loock.io, a group of on-chain investigators claims that MrBeast and his influencer network used their social media...Read More
Crypto-focused venture capital firm DWF Labs has severed ties with a partner accused of inappropriate behavior during a company event in Hong Kong. The company took action after a woman identified as “Hana” reported that a partner in the firm allegedly attempted to spike her drink on October 24. The Incident In an official October...Read More
Minneapolis Federal Reserve President Neel Kashkari has found himself on the wrong end of a backlash after stating that most cryptocurrency transactions involve drugs or illegal activities. The comment from the official, a known crypto skeptic, did not go unchallenged, with several members of the community calling him out for it. Fed Official Says Crypto...Read More
Blockchain security firm PeckShield has reported that the crypto space suffered more than 20 hacking incidents in September 2024. According to the company, these events caused about $120.23 million in losses, excluding $32.4 million worth of Spark Wrapped Ethereum (spWETH) drained in a phishing attack on September 27. BingX, Penpie, and Indodax Suffer the Most...Read More
The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone, a new initiative designed to safeguard blockchain developers from “patent trolls.” The campaign targets non-practicing entities (NPEs), which hold patents without developing products and often exploit the high costs of litigation to pressure companies into expensive settlements. Protection...Read More
Federal prosecutors have indicted New York City Mayor Eric Adams following corruption investigations that have triggered the retirements and resignations of several members of his administration. Adams, a former police captain, made the headlines in 2021 when he pledged to take his first three paychecks in Bitcoin (BTC) when he became mayor. Charges Remain Unclear...Read More
Vitalik Buterin, co-founder of Ethereum, took to social media platform X to commend Celo’s growth. The blockchain network recently outpaced Tron in daily active addresses for stablecoin usage. Celo’s Growth In his post, Buterin expressed enthusiasm for the achievements, stating: “This is amazing to see. Improving worldwide access to basic payments and finance has always...Read More
A storm has been brewing in the crypto world, and it’s one that’s left many investors reeling from the sudden collapse of FTX, once the third-largest cryptocurrency exchange in the world. The impact of the company’s downfall was felt worldwide, leading to a devastating crypto crash. But amidst the chaos and confusion, a man possessed...Read More
RACA will create and launch JAZ Network (A BNB Side Chain with $BNB gas fee) mainly for games. RACA dev aims to bring web 3.0 steam to the BNB ecosystem. There are multiple middle-sized games (not mini-games) under development, and they will be launched in 2023 on RACA and JAZ Network. JAZ Network is a...Read More
Bitcoin, Ethereum, BNB, XRP, and most other cryptocurrencies are showing significant bearish price movements this Tuesday. After a great start earlier this month and sideways trading last week, it seems the bears are again taking over the markets, pushing the global crypto market cap below $1 trillion. Let’s look at relevant Bitcoin, Ethereum, and market...Read More
Cryptocurrency markets continue to trade sideways this week as Bitcoin and Ethereum manage to hold support. Like yesterday, Bitcoin and Ethereum remain in the $20k and $1,500 range despite increasing trading volume over the past 24 hours. Let’s look at relevant crypto news affecting prices today. Key Points: Bitcoin and Ethereum remain above support while...Read More
Cryptocurrency markets continue to hold support today after a spectacular performance last week. Bitcoin remains at the $20k level, while Ethereum has found new support in the $1,500 range. Let’s look at relevant news affecting markets today. Key Points: Cryptocurrency markets continue to trade sideways, holding support after last week’s bull run. Bitcoin’s lightning network...Read More
Cryptocurrency markets continue to trade sideways this week as Bitcoin and Ethereum manage to hold support. After rising by over 6% this week, Bitcoin is holding support relatively well, with today’s trading volume up over 40%. Let’s look at relevant Bitcoin and Ethereum news affecting prices this week. Key Points: Cryptocurrency markets manage to hold...Read More
Cryptocurrency markets have seen significant bullish momentum this week, with Bitcoin and Ethereum rising by 7% and 19% in the past week. While cryptocurrency prices remain relatively flat this Friday compared to yesterday, the market sentiment remains bullish. Let’s look at relevant crypto and global news affecting markets today. Key Points: Elon Musk finalizes his...Read More
