Arbitrum One, the Ethereum Layer 2 optimistic rollup, has surpassed 1 billion transactions this week. This feat was accomplished by Arbitrum One within three years of its mainnet launch in August 2021. As of October 1st, Arbiscan recorded a total of 1.003 billion transactions. In comparison, Coinbase’s Layer 2 network, Base, has logged 755 million...Read More
Malaysian officials have arrested seven people for suspected bitcoin mining operations that involved stealing electricity. The local media, Bernama, reported that the detainees include three Malaysians and four foreigners, who were held separately last week. Electricity Theft in Malaysia In an official statement, the Sepang District Police Chief, ACP Wan Kamarul Azran Wan Yusof, mentioned...Read More
As the market turned bearish, meme coins on Solana – once notorious for their explosive popularity – are now seeing a decline. This appears to have adversely affected Solana-based investment products which experienced record outflows of $39 million over the past week due to a sharp drop in meme coin trading volumes. According to the...Read More
American multinational investment giant – BlackRock – has recently reported a significant increase in investment-related scams, particularly those that direct individuals to crypto investment websites or social media platforms like WhatsApp and Telegram. The company has cautioned its investors when engaging with individuals, websites, or social media platforms using BlackRock’s brand to offer training or...Read More
The proposal came during a speech by the Republican representative for Wyoming at the Bitcoin 2024 Conference in Nashville on July 27. “We can create a brighter future for generations of Americans by diversifying into Bitcoin and being the first developed nation to create a strategic reserve,” she said. US Bitcoin Reserve The pro-crypto politician...Read More
Hong Kong native and crypto promoter Wong Ching-kit has entered the radar of the International Criminal Police Organization (Interpol) for his suspected role in several criminal cases, the latest being a cryptocurrency scam involving over HK$3 million ($384,310). According to a report from the South China Morning Post, Interpol has issued a red notice against...Read More
On-chain analytics platform Nansen believes bitcoin (BTC) investors should adopt a risk-on strategy amid the market’s current condition because all tactical signals are flashing green. According to the firm’s weekly research report, crypto narratives are currently positive and increase the likelihood of higher risk-adjusted crypto returns in the near term. Bitcoin Investors Should Become Risk-On...Read More
The leading American Bitcoin mining company – Riot Platforms – has acquired the Kentucky-based firm Block Mining in a transaction valued at $92.5 million. The deal, announced on July 24, includes $18.5 million in cash from Riot’s reserves and $74 million in Riot common stock. Additionally, Block Mining could receive up to $32.5 million more,...Read More
The first wave of spot Ethereum exchange-traded funds (ETFs) in the United States debuted on July 23, with inflows running above $100 million. While the positive flows signal a strong start for the funds, ether (ETH) may not witness the parabolic uptrend bitcoin (BTC) saw after asset managers launched its ETFs earlier this year. In...Read More
Russian-speaking threat actors who come from former Soviet Union are the primary drivers of various types of crypto-related cybercrime, including ransomware, illegal crypto exchanges, and darknet markets, according to the latest report by TRM Labs. In fact, ransomware groups that speak Russian were also found to be responsible for at least 69% of all ransomware...Read More
Although we still have a long way to go in 2024, this year has already been quite eventful for the cryptocurrency industry and not only for Bitcoin. The second-largest digital asset also received a massive dose of validation earlier this year when the US Securities and Exchange Commission greenlighted almost ten exchange-traded funds tracking its...Read More
Jan van Eck, the CEO of the investment management company VanEck, highlighted some of Bitcoin’s most notable merits during the ongoing BTC Conference in the States. Additionally, he said that ‘way over 30%’ of his portfolio has been allocated to the primary digital asset. VanEck is among the financial giants that filed and later launched...Read More
Beginning in early July, the defunct crypto exchange – Mt. Gox – initiated repayments to creditors affected by the 2014 hack. While Kraken has completed the distribution of all the Bitcoin and Bitcoin Cash owed to Mt. Gox creditors, the former’s price remained stable. This could be due to the fact that creditors on Kraken...Read More
On July 23, Hong Kong will launch Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK). This new exchange-traded fund (ETF) by China Southern Asset Management Co., Ltd (CSOP) is designed to provide investors with an opportunity to profit from declines in Bitcoin’s price. Asia’s First Bitcoin Futures Inverse...Read More
Investment in digital asset products continued to rise, with inflows reaching $1.35 billion last week, totaling $3.2 billion over the past three weeks. Trading volumes for Exchange Traded Products (ETPs) also saw a significant increase, up 45% week-over-week to $12.9 billion. However, this accounted for a lower-than-usual 22% of the overall crypto market volumes. Bitcoin...Read More
Bitcoin’s latest uptrend and surge to the $67,000 level have put many investors in the money, with the majority of addresses holding the primary cryptocurrency flashing green. A tweet from IntoTheBlock has revealed that 93% of addresses holding BTC are in profit again. Historical data from the on-chain intelligence platform shows that Bitcoin holders have...Read More
Over the past ten years, Ethereum has transformed the blockchain landscape. From its initial coin offering to becoming the second-largest crypto by market cap, Ethereum has continuously evolved, implementing major upgrades like the shift to Proof-of-Stake (PoS) and Layer 2 scaling solutions and cementing its position as a cornerstone of the Web3 ecosystem despite the...Read More
Three individuals have been arrested by the Hong Kong police suspected of defrauding a businessman out of HK$3.11 million, worth around $399,000, in crypto assets by offering him three bundles of counterfeit HK$1,000 banknotes. The officers reportedly confiscated 10,978 fake HK$1,000 banknotes during a raid on the Mong Kok office, where the fraudulent transaction took...Read More
State Street Corp., a Boston-based major player in traditional finance, is exploring the launch of its own stablecoin and tokenized deposits to improve payment settlement using blockchain technology. According to a Bloomberg report on Wednesday, the bank has been actively making efforts to integrate into the crypto space. State Street Is Pushing for Digital Expansion...Read More
Despite the lower spot price overnight, data suggests considerable institutional interest in December 2024 $100,000 calls. This indicates an even stronger confidence in a year-end rally for the world’s largest crypto, particularly as the likelihood of former US President Donald Trump’s victory rises. Sizeable Institutional Interest In its latest update, crypto trading firm, QCP Capital...Read More
Singapore-based cryptocurrency exchange – Bybit – has released its 12th proof of reserve (PoR) report, which highlights significant changes in user asset holdings compared to the previous month. The current PoR revealed a Bitcoin reserve ratio of 107%, Ether’s at 105%, and Tether’s at 103%. Bybit’s 12th PoR The report shows that Bybit’s wallets held...Read More
BitMEX co-founder Arthur Hayes’ crypto investment fund Maelstrom announced the launch of the Bitcoin Grant Program that aims to help with the technical development of the largest blockchain network. The focus will also be to improve its resilience, scalability, censorship resistance, and privacy characteristics. On its official website, Maelstrom said that it can support Bitcoin...Read More
Just as Bitcoin reclaimed the $63,000 level at the start of this week, Whale Alert has identified the activation of a dormant address containing 1,000 BTC, worth approximately $60 million, on July 15th, after more than a decade of inactivity. This wallet initially received the stash around 11 years and 9 months ago, on September...Read More
Bitcoin and, by extension, cryptocurrencies have never been more relevant to voters than in the 2024 presidential election. A new poll funded by crypto-focused investment firm Paradigm showed that 13% of Republicans who originally did not intend to vote for Donald Trump had a more positive view of him after he reversed his previous stance...Read More
The total inflow to the ten U.S. spot Bitcoin ETFs reached $310 million, or 5,361 BTC, on Friday, July 12. This is the largest inflow to the derivatives products since June 5, according to Farside Investors. Moreover, it is the sixth consecutive day of positive flows, indicating that institutional investors have been buying the bottom...Read More
Bitcoin (BTC) is currently at a critical point that could determine whether its price will bottom out or decline further in a correction like that seen in the summer of 2021. While some metrics suggest that the leading crypto asset has reached the bottom of its latest correction, others signal that there could be more...Read More
The global crypto trading volume is projected to surpass $108 trillion this year, reflecting an increase of nearly 90% compared to 2022, as reported by CoinWire. Europe has taken the lead in this growing market, representing 37.32% of total crypto transaction value, and is projected to see a 2.7-fold increase this year from 2022. Russia...Read More
According to a report by a Malaysian news outlet, MalayMail, Bitcoin and crypto mining operations were mostly responsible for the massive electricity theft in the country between 2018 and 2023. Despite the crackdown, crypto mining and general services are not illegal in the Asian country. Bitcoin Mining Using Stolen Energy Akmal Nasrullah Mohd Nasir, the...Read More
According to a recent survey by CoinGecko, only about half of investors are actually bullish about the current crypto market. The study, which featured 2,558 people, was conducted over the last two weeks, from June 25 to July 8. Crypto Investors Lead Bullish Outlook The CoinGecko report highlights that 49.3% of crypto participants are still...Read More
A Dutch court has denied bail for Tornado Cash developer Alexey Pertsev, who was convicted of money laundering in May. This decision is a significant setback for Pertsev, who has been held in custody for the past two months without computer or internet access despite being requested in order to prepare for his defense. Pertsev...Read More
