Ukraine’s Economic Security Bureau (ESB) is investigating local cryptocurrency exchanges. This action comes in response to the bureau’s discovery that unregulated exchanges operating in the country have led to a loss of 3 billion Ukrainian hryvnia (over $80 million) in uncollected taxes. Earlier, Ukrainian regulators voted to tax crypto gains 18% as of 2024. Meanwhile,...Read More
Bitcoin miner F2Pool has successfully reversed a recent erroneous bitcoin transaction that resulted in an excessively high transaction fee of $510,000, almost 480,000 times the average network fee of $2.176. The responsible party, Paxos, acknowledged its error and identified it as a bug in a single transfer. According to on-chain data from Mempool on X,...Read More
The celebrated US investor, TV personality, and owner of the Dallas Mavericks had one of his MetaMask wallets drained through what appears to be another successful phishing attack. The total value of the siphoned funds is close to $900,000, according to on-chain data. Popular crypto sleuth WazzCrypto took it to X on Friday evening to...Read More
The dYdX Foundation, a non-profit organization behind the decentralized crypto exchange dYdX, has released its semi-annual report detailing its ecosystem growth and milestones reached in 2023. According to the report, the foundation fostered the development of the dYdX protocol and grew the community in preparation for the release of the v4 open-source software – the...Read More
The United Kingdom Financial Conduct Authority (FCA) said it will extend the deadline for crypto firms to implement the strict marketing rules created to protect consumers. According to an official release, the core rules will still come into effect from October 8, 2023, while measures that require greater technical development, like the 24-hour cooling-off period,...Read More
Grayscale’s victory over the SEC could be seen as a major setback for the financial regulator, which has intensified its enforcement efforts against the cryptocurrency industry. However, this landmark win did not translate into a notable increase in the accumulation of crypto assets in the spot market. In fact, CCData’s latest report disclosed that the...Read More
The world’s most valuable company – Apple, with market cap nearing $3 trillion, has reportedly secured the rights to the upcoming book about FTX’s founder – Sam Bankman-Fried. The book will likely be one of the many documentaries, including short TV series, to be released about SBF and his former empire. Apple Gets the Book...Read More
Vitalik Buterin, the co-founder of the second-largest blockchain, Ethereum, had his X account hacked to portray a phishing site that reportedly drained over $800,000. The fraudulent post has been deleted since, and the account has been restored. The blockchain security resource PeckShield was among the first to alert about the ongoing hack later last night,...Read More
Although Ripple scored a partial court victory against the SEC earlier this summer, the battle is far from over, as the agency has formally requested the right to appeal against the decision. The US securities regulator’s response comes after the deadline for Ripple to present its opposition passed on September 1. Recall arguably the most...Read More
The now bankrupt crypto exchange, which actually has intentions to restart operations at some point, reportedly wants to retrieve some of the money it paid to professional athletes and teams that used to promote it. Some of those names, according to Bloomberg, include Shaquille O’Neal and Naomi Osaka, but Tom Brady has not been mentioned....Read More
Bitcoin mining company Marathon Digital Holdings announced producing 1,072 BTC in August, which represented a drop of 9% from the previous month due to extreme weather conditions in Texas. Despite the decrease in Bitcoin production, the figure is still five times more than in August of last year. Marathon’s Bitcoin Production: August Edition In its...Read More
The total adjusted on-chain volume for the leading two crypto assets decreased by 6.3% to $176 billion in August. Bitcoin volumes fell by 6.7% and Ethereum by 5.7% for the month, according to research from The Block. Furthermore, it is the fifth month of declines since March, and on-chain volumes are down 56% from the...Read More
Nasdaq-listed Bitcoin mining firm Canaan’s total revenue increased to $73.9 million in Q2 2023, marking a quarter-on-quarter climb from $55.2 million. This figure comprised $57.9 million in product revenue and $15.9 million in revenue generated from Bitcoin mining operations. Canaan’s growth in revenue coincided with its expansion into new mining projects in both Africa and...Read More
The US National Security Agency (NSA), Cybersecurity and Infrastructure Security Agency (CISA), Federal Bureau of Investigation (FBI), and the UK National Cyber Security Centre (NCSC), have released a joint report cautioning users to remain vigilant against recently discovered malware that is being deployed to target crypto wallets and exchanges. The advisory report unveiled a malware...Read More
Following an extensive struggle with the US Securities and Exchange Commission (SEC), Ripple has gained acknowledgment from People’s Magazine. This week, the publication has included the San Francisco-based blockchain company in its compilation of the “100 Companies Who Care For Employees And Society.” People Magazine specifically recognized Ripple for its corporate social responsibility initiative –...Read More
In the ongoing debate on Ripple (XRP) and its intrinsic value, attorney Deaton’s response to Australian-based lawyer Bill Morgan’s criticism of the U.S. Securities and Exchange Commission’s (SEC) stance has sparked further discussion. The central point of contention lies in whether XRP possesses intrinsic value, a question that holds significant implications for the regulatory classification...Read More
Crypto markets pumped $65 billion following the news that a court ruled in favor of Grayscale in its lawsuit challenging the SEC’s decision to deny conversion of its GBTC fund to an ETF. The big move has reversed the recent bearish sentiment as market analysts and observers are now eyeing the next bull cycle. On...Read More
2022’s bloodbath and the subsequent market corrections, especially the sell-off in August, intensified Ether’s downside pressure. The world’s largest altcoin had plunged to $1,580. Multiple attempts to break above the $1,700 level failed as Ether settled near $1,644 before it finally shot up above the former yesterday. However, the data suggests that the asset is...Read More
Long-term Bitcoin holders have proved to be highly resilient but data suggest that this cohort of market players had the inkling of a favorable outcome. Bitcoin received a major push following the Grayscale court victory against the US Securities and Exchange Commission (SEC). However, preceding this event, there was significant accumulation amidst a period of...Read More
US Representative Warren Davidson continues to push for Gary Gensler’s removal as the chairman of the Securities and Exchange Commission (SEC) following Grayscale’s recent win in court against the agency. Industry stakeholders and the broader crypto community believe Gensler and the SEC’s regulation by enforcement approach towards the crypto industry caused more harm than good...Read More
Miami’s mayor – Francis Suarez – announced his withdrawal from the US Presidential race without providing an exact reason for his decision. He is known as an outspoken proponent of bitcoin who has invested some of his wealth in the primary digital asset. Suarez also became the first American politician to receive his salary in...Read More
Leading cryptocurrency exchange OKX has released its tenth proof-of-reserves (PoR) report, becoming the first digital asset platform to release ten consecutive monthly PoR reports. According to a press release, the latest numbers show balances of $10.4 billion in primary crypto assets like bitcoin (BTC), ether (ETH), and Tether (USDT). OKX Publishes 10th PoR Report The...Read More
After two years of split governance, the cooperation between the two companies has culminated in a new agreement, with Coinbase even acquiring a minority stake in Circle. Earlier this summer, Circle shared plans to upgrade USDC’s technical capabilities in order to pave the way for present and future projects – and the release of the...Read More
The Japanese subsidiary of Binance will reportedly provide trading services with additional digital currencies in the near future. The crypto behemoth re-entered the Land of the Rising Sun earlier this summer after departing in 2018 due to regulatory problems. According to a Bloomberg coverage, Binance Japan will soon increase the number of supported cryptocurrencies on...Read More
On Aug. 30, the United States District Court for the Southern District of New York dismissed the suit against the decentralized exchange, its CEO, and its venture capital backers. The suit was brought by six individuals who bought what they alleged were scam tokens on Uniswap between December 2020 and March 2022. The plaintiffs claimed...Read More
Since his bail was revoked, Sam Bankman-Fried has been pleading for everything between “temporary” re-release, more computers, and more time to review the prosecution’s evidence. FTX’s current defense strategy is to claim he acted in good faith, taking the advice of FTX’s legal team. Naturally, this would imply a lack of knowledge regarding the misdeeds...Read More
Crypto exchange giant Binance will stop support for BUSD by 2024 after Paxos halted minting the stablecoin following a regulatory clampdown. The firm, meanwhile, has asked users to convert their BUSD to FDUSD, a stablecoin recently listed on the Binance platform. Binance, in an announcement on Aug. 31, revealed that it will delist BUSD spot...Read More
Two Bloomberg exchange-traded fund (ETF) analysts, Eric Balchunas and James Seyffart, predicted that there is a 75% chance the United States will have a spot Bitcoin ETF by the end of 2023, following Grayscale’s win against the US Securities and Exchange Commission (SEC). While the SEC has approved future-based Bitcoin ETFs, the Commission is yet...Read More
As the US Securities and Exchange Commission (SEC) faces mounting political pressure to greenlight a bitcoin ETF following its recent court loss, there’s an opposing viewpoint that insists on maintaining the current stance. However, CoinShares product head Townsend Landing believes the financial regulator is stuck in a maze of its own making. ‘Hoist With His...Read More
Brian Armstrong, the CEO of Coinbase, revealed a list of ten ideas that he’s most interested in and hopes that developers turn these ideas into reality amidst the bear market. Despite mounting regulator pressure on the home turf, Armstrong said Coinbase has its hands full with different projects and “doesn’t have time to tackle everything.”...Read More
