The United States has persistently stumbled in delivering clear regulatory guidance for digital assets. The Securities and Exchange Commission (SEC) presides over instruments and assets deemed as securities, while the Commodity Futures Trading Commission (CFTC) regulates the trading of derivatives on commodities. This landscape leaves a regulatory gap for digital assets that defy the categorization...Read More
The Dogecoin team made an exciting announcement on X this week, revealing that Astrobotic has scheduled the launch of a physical DOGE to the moon. Notably, the coin will be included in the DHL Moonbox and transported via ULA’s Vulcan Centaur Rocket on December 23, 2023. Dogecoin to the Moon The initiative traces back to...Read More
Despite unfavorable economic conditions and the persistent bear market, institutional cryptocurrency adoption has been on the rise. Investors have remained resilient and expressed optimism and strong sentiment about crypto’s role in the future of financial settlements. A recent survey conducted by leading U.S. crypto exchange Coinbase found that 64% of institutional investors currently investing in...Read More
OneCoin’s head of legal and compliance Irina Dilkinska has pleaded guilty this week to wire fraud and money laundering charges in connection to the crypto scam that deceived and resulted in a $4 billion fraud. The DOJ said that the US District Judge Edgardo Ramos accepted Dilkinska’s guilty plea. According to the official press release,...Read More
Since FTX’s bankruptcy on November 11, 2022, significant developments have unfolded. FTX founder Sam Bankman-Fried has been swiftly convicted on seven criminal charges, potentially facing a prison sentence of up to 110 years. The federal criminal case, marked by unusual efficiency, resulted in a conviction within a year of FTX’s collapse and the initiation of...Read More
For the first time in three months, the top 13 publicly traded crypto mining companies have sold more bitcoins (BTC) than they produced. According to Bitcoin mining research platform TheMinerMag, the liquidation-to-production ratio for miners like Marathon Digital, Core Scientific, Argo Blockchain, Bitfarms, Bit Digital, Hut 8, Iris Energy, and Terawulf was 105% in October,...Read More
The Indian government has lost $420 million in what could have been a substantial revenue stream as a result of its taxation, forcing traders to move their transactions outside the country. Experts are now suggesting that the Indian government should take a more relaxed approach to its controversial stance on crypto taxation. According to a...Read More
In a shocking turn of events, a middle-aged Swedish couple fell victim to a violent home invasion orchestrated by a gang of masked men determined to steal their Bitcoin holdings. This incident, which unfolded earlier this week in the town of Rönninge, south of Stockholm, has highlighted the alarming trend of cryptocurrency-related robberies in Sweden....Read More
Approximately a year after its implosion, the once-crypto giant has taken another step in trying to recover funds from third parties. In this case, FTX’s legal team has reportedly gone after a previous competitor – Bybit – for cryptocurrencies and cash valued at over $950 million. Bloomberg reported that FTX has already sued Bybit Fintech...Read More
As cryptocurrency adoption increases in Turkey, investors flock to the novel sector for different reasons, including the notion that they could enrich their pockets by trading digital assets. A new survey by the world’s largest crypto exchange, Binance, found that the potential for profits motivates roughly 66% of Turkish investors to trade digital assets. This...Read More
The crypto market anticipates a bullish trend in the next few months, with the upcoming Bitcoin halving. During this period, several altcoins went on solid rallies. One such is MATIC, a Layer-2 Ethereum scaling token, which has observed a noteworthy increase in its price, surpassing the $0.80 threshold for the first time since July 2023....Read More
According to the latest report from Immunefi, from January to October 2023, over $1.41 billion has been lost to hacking and fraudulent activities in 292 specific incidents. In October 2023 alone, losses amounted to approximately $22.2 million, primarily attributed to hacking and fraud. The most frequently targeted blockchain networks during the period were BNB Chain...Read More
Space and Time, a data warehousing player, announced that it will enable its novel zero-knowledge (ZK) proof for SQL operations to work with Google Cloud’s warehouse, BigQuery. Dubbed ‘Proof of SQL,’ Space and Time’s new ZK protocol, will enable developers leveraging BigQuery to cryptographically confirm query results were computed accurately and on untampered data. BitQuery...Read More
Stablecoins are often viewed as assets that pose systematic risks to the financial market. However, these pegged tokens have become the most popular category among investors amid adverse market conditions. QuickNode’s latest on-chain report revealed a notable surge in stablecoin activity across blockchain networks. Stablecoins saw a 45% growth in active addresses and a 41%...Read More
The market is getting ready for yet another month of token unlocks. Data suggest that there were substantial unlocks exceeding $10 million in November, featuring tokens such as SUI, IMX, HFT, APT, APE, AVAX, OP, and others. Nearly $400 million worth of assets will enter circulation following the unlock events. Token Unlock: November Edition According...Read More
Research by blockchain security firm Hacken has found that most of the crypto projects rug-pulled in the third quarter of 2023 had no audit reports. According to the Q3 2023 Security Insights report, only 12 out of 78 examined rug pulls conducted and reported audits. Most Rugpulled Projects Are Not Audited An independent third-party audit...Read More
In a recent study conducted by Coinbase, a paradigm shift has emerged among the young American population. An impressive 38% of younger Americans now believe crypto and blockchain technology can provide significant economic opportunities not commonly found in the traditional finance sector. Interestingly, this stands in stark contrast to older generations, where approximately 26% share...Read More
Non-fungible token (NFT) sales in Q3 2023 were the worst the market has seen in roughly three years. According to a Binance Research report, the NFT sector recorded $299 million in sales in Q3, attributed to a slump in the price of ether (ETH) and the floor prices of most collections. Worst Quarter For Sales...Read More
In a decisive move to counter the escalating use of cryptocurrencies in criminal activities, London’s Metropolitan Police established a 40-member team specializing in crypto investigations. The move comes as authorities express mounting concerns that digital currencies now play an ‘endemic role’ in organized crime. UK Crypto Fraud Cases Skyrocket Since its inception in May, the...Read More
On October 18, the ECB Governing Council stated that it had decided to move to the next phase of the digital euro project. The move into the preparation phase for a potential European CBDC follows the completion of a two-year investigation phase. The preparation stage will start on November 1 and will initially last two...Read More
The Calgary Police Service issued a warning to residents to beware of fraudsters who promise high returns on crypto investments, noting that Calgary victims have lost more than $22 million mostly to investment scams so far in 2023. Meanwhile, authorities believe crypto scams are still underreported despite huge losses. Calgary Police Receive More Crypto Scam...Read More
Newbie developers are increasingly departing a crypto project while more “established” ones (more than two years) and those categorized as “emerging” (who have been working for one to two years) have remained relatively resilient over the past year. A new study by Electric Capital shows that Ripple is one of the few projects that witnessed...Read More
In 2023, the Ethereum blockchain witnessed intriguing transformations in the way users and entities engage. According to Nansen’s recent report, there has been a remarkable surge, with more than 300,000 daily active Ethereum addresses. Among these active addresses, DeFi entities have maintained their position as the dominant players. As of October 12th, 2023, DeFi users...Read More
A recurring motif during the trial has been Bankman-Fried’s commitment to effective altruism, a philanthropic ideology aimed at maximizing individuals’ impact through activities like charitable contributions and career choices. Bankman-Fried, who is currently on trial for defrauding investors of billions of dollars, aligned himself with fellow proponents of this philosophy, including Nishad Singh, the head of...Read More
While maintaining the $30,000 mark is proving challenging for Bitcoin, there appears to be a noteworthy surge in bullish sentiment. It can be attributed in part to the increased optimism of investors regarding the potential approval of a spot Bitcoin ETF in the US. A potential approval can push Bitcoin between $42,000 and $56,000, according...Read More
Two years after James Zhong was apprehended for stealing 50,000 bitcoins (BTC) from the dark web marketplace Silk Road in 2012, stories of events that led to his arrest have emerged. According to a CNBC report, Zhong was a computer expert who lived a luxurious life. He drove expensive cars, including a Tesla, partied a...Read More
Solana had a strong association with FTX, and the latter’s collapse last year had significant repercussions for the SOL token. However, the seventh-largest crypto-asset has pursued a strong recovery this year. According to Nansen’s latest analysis, SOL has been trending positively since the summer. In fact, the SOL vs ETH ratio was found to have...Read More
Gabbani, a hotel company based in Lugano, Switzerland, has unveiled an initiative to mine Bitcoin using excess energy from its food production facility. The new project is set to solidify Lugano’s status as the leading European blockchain hub. According to an official announcement by stablecoin issuing company Tether, Gabbani will install a Bitcoin mining system...Read More
Investment banking giant Morgan Stanley published a report on Tuesday arguing that Bitcoin (BTC)’s upcoming halving event in six months may be the dawn of a new bull market. With reference to Bitcoin’s “four seasons,” the bank claimed that “crypto winter” may already be over. Crypto Winter Is Over Morgan Stanley Wealth Management defines cryptocurrency...Read More
Binance.US has garnered support from a major crypto lobbyist group in warding off an ongoing lawsuit from the U.S. Securities and Exchange Commission (SEC). In a new amicus brief, the US Chamber of Digital Commerce argued that the agency’s claims against the exchange are misplaced, and that its actions are turning crypto businesses away from...Read More
