The decentralized finance (DeFi) project SafeMoon has officially filed for Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” with the United States Bankruptcy Court in the District of Utah. The development follows a period of turmoil within the company that has spanned several months. The voluntary petition was filed by Attorney Mark Rose and was...Read More
Solana’s previously underperforming Saga smartphone has experienced a sudden and overwhelming surge in sales. This unexpected development is attributed mainly to the growing fascination with BONK, a meme coin on the Solana blockchain. Solana’s Saga Phone Sales Skyrocket with BONK Airdrop This unique situation began with an announcement in June about an airdrop of 30...Read More
On Dec. 14, Bitcoin pioneer Nic Carter asked the burning question. Almost everyone assumes that we’re due for a 2017/18 or 2021/22-esque bull run, he said. “I’ll be the guy to ask why. Do you have any basis for this or have you trained a model on 2 data points?” he asked. The question is...Read More
[PRESS RELEASE – Los Angeles, United States, December 15th, 2023] In a landmark collaboration, Ethernal Labs, together with the Bruce Lee Family Companies and Ethernity, is proud to announce the launch of the “Bruce Lee: The Year of The Dragon” digital collectibles collection. This innovative collection, featuring five unique digital statues, is set to debut...Read More
Cryptocurrency exchange and token listing platform CoinList agreed to pay the Office of Foreign Assets Control (OFAC) of the United States Department of Treasury over $1.2 million in settlement relating to violations of the agency’s Russia/Ukraine sanctions. According to OFAC, while CoinList mostly abided by several compliance measures, the platform still opened accounts for users...Read More
SafeMoon has officially filed for Chapter 7 bankruptcy protection. The move follows a wave of accusations surrounding fraud and mismanagement that have plagued the company since its inception. Why Safemoon Filed For Bankruptcy? The SEC alleges that SafeMoon executives deceived investors about the accessibility of SFM’s ‘locked’ liquidity, utilizing the funds for personal gain as...Read More
It’s nearly guaranteed that regulators will force Bitcoin (BTC) ETF applicants to adopt a “cash-create” model before launching their highly anticipated investment products, according to Bloomberg ETF analyst Eric Balchunas. The decision, if true, would have major implications for the cost of managing each fund – and by extension, the fees passed down to customers....Read More
Goldman Sachs (GS.N) is gearing up for a significant increase in the trading of blockchain-based assets within the next one to two years, signaling a major evolution in digital asset markets. According to a Reuters report, Mathew McDermott, the bank’s global head of digital assets, stated that the Wall Street giant is not only preparing...Read More
Analysts for the world’s largest bank expect Ethereum (ETH) to outperform Bitcoin (BTC) next year amid a critical network upgrade for the former, and a wildly disappointing ETF launch for the latter. In a report published Wednesday, JPMorgan argued that Ethereum’s upcoming “Protodanksharding” (EIP-4844) upgrade will help bolster network activity after a lull period during...Read More
Gemini, the Winklevoss Twins crypto platform offering an exchange, custodian services, and – in partnership with Genesis – Earn services, has been in a bit of trouble ever since the latter filed for bankruptcy last January. Possible Recovery Plan Waiting For Court Approval Genesis, whose legal troubles stemmed partly from a loan to its parent...Read More
[PRESS RELEASE – Tallinn, Estonia, December 14th, 2023] Winz.io Revolutionizes Player Rewards with the Launch of WinzUp Loyalty Program Winz.io, a leading force in the online gaming industry, proudly introduces WinzUp, a cutting-edge loyalty program meticulously designed to elevate player experiences and set new benchmarks in rewarding gameplay. WinzUp emerges as a game-changer, signaling Winz.io’s...Read More
Bitwise Asset Management has joined the list of companies aiming for a spot Bitcoin (BTC) Exchange Traded Fund (ETF) approval in the United States. The firm’s ETF has been officially listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker BITB, signaling a growing optimism within the sector. Bitwise Optimistic Following Listing Bitwise’s...Read More
Chainlink has announced that its price feeds are now live on the zero-knowledge (ZK) scaling solution, Polygon zkEVM. The latest development essentially aims to allow developers to build advanced DeFi applications. Chainlink Data Feeds’s functionality allows DeFi developers to tap external price data to develop and launch highly effective liquidity protocols and advanced decentralized exchanges,...Read More
Blockchain initiatives will benefit from security, scalability, and interoperability. How do unsafe projects handle problems? While banks market Blockchain technology, do you think recurring Defi project troubles would make it easy to penetrate mainstream finance? Recently, cryptocurrencies have significantly transformed the financial landscape, introducing innovative concepts like decentralized finance (DeFi) that promise greater financial inclusion...Read More
[PRESS RELEASE – San Francisco, California, December 14th, 2023] Round Led By 1kx, With Participation From Maven 11, Mechanism Capital, and Notable Angels nftperp, the first NFT perpetual futures DEX, today announces the close of its Series-A round totaling $3 million. nftperp empowers users with a seamless, efficient and decentralized platform to take long or...Read More
Ava Labs’ Core app has announced going seedless to boost Web3 adoption without compromising self-custody and security. The team behind Avalanche blockchain said that it has enabled users to generate and manage keys through simple Web2 methods like Gmail and Apple logins, making it more accessible. The key feature is Core’s Seed Abstraction, which is...Read More
Cryptocurrency experts, including popular on-chain investigator ZachXBT, took notice of an ongoing vulnerability associated with various Web3 interactions. It turns out that the problem had to do with the library of Ledger – the popular hardware wallet provider. In an official tweet, the company confirmed the vulnerability: We have identified and removed a malicious version...Read More
[PRESS RELEASE – Ho Chi Minh city, Vietnam, December 14th, 2023] Verichains, renowned as a trailblazer in blockchain security solutions and for its cutting-edge security research, proudly announces a strategic security collaboration with Polygon Labs, the development company behind leading Layer 2 scaling solutions powered by zero-knowledge (ZK) technology. This collaboration aims to fortify the...Read More
The US Securities and Exchange Commission (SEC) has extended its decision on whether to approve or disapprove a spot Ethereum exchange-traded fund (ETF) application by investment management company Invesco and crypto financial services firm Galaxy Digital. The SEC gave a 45-day extension, allowing itself until February 6, 2024, to make its decision on the product....Read More
[PRESS RELEASE – Dubai, United arab emirates, December 14th, 2023] HELLO Labs are delighted to announce the addition of Chris Wells to the HELLO team as Head of Media. Chris will spearhead efforts to forge new partnerships with Web3 media and PR firms, amplifying HELLO Labs’ presence as the premiere Web3 entertainment company, with a...Read More
On Dec. 13, Bitwise Invest research analyst Ryan Rasmussen predicted that Bitcoin will hit an all-time high of $80,000 in 2024. He did not specify a month or quarter but said that two major catalysts will help get us there. These are the anticipated launch of a spot Bitcoin ETF in early 2024 and the...Read More
VanEck Associates, the mutual fund and ETF manager with over $76 billion in assets under management (AUM), has a bold Bitcoin price prediction for 2024. The fund’s digital assets division expects a Donald Trump reelection victory next year to coincide with a new all-time high price for BTC. VanEck Analysts 2024 Bitcoin Price Prediction A...Read More
Russia’s Ministry of Finance has embarked on a transformative initiative, drawing parallels between the cryptocurrency market and the nation’s successful gas export model. Ivan Chebeskov, Deputy Minister of Finance, recently unveiled a pioneering concept that would permit Russian cryptocurrency miners to export their mined digital assets as legitimate products, signifying a pivotal step toward formally...Read More
With the United States struggling to bring about regulatory clarity for the crypto space, the ongoing discord between two pivotal watchdogs sparks concerns about potential implications. The head of the Commodities Futures Trading Commission (CFTC), Rostin Behnam, has once again indicated that most crypto assets are considered commodities according to existing laws. He also acknowledged...Read More
Coinbase and Coinbase Asset Management have introduced “Project Diamond,” a platform powered by smart contracts. This new system aims to enable institutions by facilitating the seamless creation, administration, purchase, and sale of various digitally native assets directly on the blockchain. “Project Diamond” According to the official announcement, Coinbase Asset Management has specified that the initial...Read More
The Financial Accounting Services Board (FASB) announced on Wednesday that it has officially adopted fair value accounting for crypto assets starting next year. The change is expected to make Bitcoin and other digital currencies far more welcoming to hold on corporate balance sheets, despite their intermittent price volatility. FASB’s Major Accounting Change Per FASB’s latest...Read More
Crypto industry experts have been discussing Tether and its potential to become the dollar-pegged defacto central bank digital currency of the world. The comments come in response to Cantor Fitzgerald CEO Howard Lutnick, who told CNBC earlier this week: “I’m a big fan of this stablecoin called Tether…I hold their treasuries. So I keep their...Read More
Since the beginning of the month, leading asset management firm Ark Invest has been on a selling spree for the stock of the largest American cryptocurrency exchange, Coinbase (COIN). Barely two weeks into December, the investment manager has sold more than $119 million worth of COIN. While Ark has been offloading the shares at several...Read More
After a powerful rally, Bitcoin appears to have hit a degree of near-term exhaustion. The uptrend encountered resistance this week, breaking to a new yearly peak of $44.5k before sustaining the third sharpest selling-off of 2023. On-chain data suggest that short-term holders (STH) are to blame for pausing the climb. Bitcoin Short-Term Holders Capitalize on...Read More
Bitcoin price has recently cleared the $41K level after a steep decline following cooling inflation reports. As the Producer Price Index (PPI) for November reported figures lower than anticipated and the Consumer Price Index (CPI) showed a decline, the crypto market experienced a minor buying demand. As a result, meme coins like Shiba Inu’s surge...Read More
