Hackers drained almost $13 million worth of digital assets from the South Korean cryptocurrency platform GDAC. This is the latest in a string of setbacks the industry went through. The Latest Victim The exchange’s team notified its users on April 9 that hackers exploited the Gdac Hot Wallet and transferred a significant amount of cryptocurrencies...Read More
Over the years, the Cardano ecosystem has come under significant criticism for continued delays and network updates. But ADA whales remain unfettered. In fact, the top whales have been amassing ADA even as the token struggled to break above the crucial resistance mark of $0.40. More Gains for ADA? According to on-chain data shared by...Read More
Over the past few days, the price of ADA has experienced a noteworthy recovery rally, indicating an imminent significant shift. Additionally, ADA holders have switched their attention to long-term objectives, given that the development team is actively implementing more network upgrades. Consequently, there has been a significant increase in whale accumulation, suggesting a bullish move...Read More
Bitcoin appears to have hit a ceiling as the price continued to hover below the psychological resistance level of $30,000. This has led some to believe that the rally may soon come to an end since futures OI has been relatively flat throughout the year. But the options market has a different story to tell....Read More
Terraport Finance, a decentralized finance (DeFi) platform on the Terra Classic network, has lost over $2 million worth of digital assets through an exploit on its liquidity wallet. According to an announcement from the project’s official Twitter handle on April 10, the Terraport team is still investigating the hack and trying to secure the protocol....Read More
ETH continued to trade below the significant $2,000 despite a bullish week’s finale. Fed Fear and regulatory headwinds continue to be obstacles. On April 12, 2023, Ethereum will undergo a hard fork known as Shanghai, which would upgrade the protocol to Shapella. With this upgrade, the Ethereum network will see a number of enhancements, including...Read More
Binance notified about an issue affecting its Future users as only USD-Margined contracts were impacted. Nevertheless, the largest crypto exchange quickly outlined that the issue had been solved, and all operations are back to normal. Binance Futures announced fully resuming trading activity for USD-Margined contracts just minutes after the issue. According to Binance CEO CZ,...Read More
On April 9, FTX Trading and its affiliated debtors released their first report on the control failures at the embattled exchange. It details the lack of risk management, inadequate record keeping, poor cyber security, and Sam Bankman Fried’s overreaching role in any decision-making. The report is based on the debtors’ review of terabytes of electronic...Read More
While some US regulators propose launching a Central Bank Digital Currency (CBDC) controlled by the Federal Reserve that could be as manipulated as the dollar, Texas wants a digital currency exchangeable for physical gold and cash. Senate Bill 2334, introduced by Senator Bryan Hughes, and House Bill 4903, introduced by Representative Mark Dorazio, together represent...Read More
By the end of World War II, the United States found itself in a position of preeminence in the global economy. For decades and generations after that time, its national security has depended on petrodollar hegemony. The standardized use of the dollar for international trade in petroleum and other commodities ensured a constant demand for...Read More
