Ethereum Name Service – the distributed, open, and extensible naming system operating on the Ethereum blockchain – announced plans for Layer 2 expansion. The growing popularity of Ethereum significantly increased gas prices forcing market participants to look for cost-effective alternatives. Ethereum Name Service (ENS) is one such project that had earlier said that Layer 2...Read More
Prominent crypto exchange Bybit continues the expansion of its operations after successfully scoring a license in Cyprus. The newly acquired license from the regulatory authorities in the island country will allow Bybit to offer a full suite of services. This includes trading between crypto pairs and fiat currency pairs, financial services related to crypto assets,...Read More
Billionaire Twitter co-founder Jack Dorsey plans to allocate more capital to the Bitcoin ecosystem after pledging $5 million to the network’s core developers through his grantmaking organization Start Small. The firm will distribute the funds to the Bitcoin development non-profit, Brink, over the next five years in $1 million annual installments. According to its website,...Read More
An analysis by crypto market data provider Kaiko revealed that USD Coin (USDC) is currently the most liquid stablecoin on centralized exchanges (CEXs), with approximately $38 million bids preventing a .1% price deviation of the asset. USDC’s liquidity is followed by that of Tether (USDT), Binance USD (BUSD), True USD (TUSD), and Dai (DAI). The...Read More
Central Bank Digital Currencies (CBDCs) are slowly becoming a reality. The initial hype may have faded, but to crypto advocates’ disdain, these digitized versions of legal tenders appear to be inevitable. So far, 100 countries are reported to be exploring the concept in some form or the other. Despite not yet being rolled out full-fledged,...Read More
A new report by America’s largest cryptocurrency exchange Coinbase revealed that the effect of Bitcoin halving events on the asset’s performance is still unclear as several exogenous factors play significant roles in the market’s behavior. While the halving is viewed positively because it is believed to enhance BTC’s prospective scarcity and support its supply-demand dynamics,...Read More
Do Kwon, who was recently arrested in Montenegro after evading authorities for months, claimed that he had no idea the Costa Rican passport he was traveling with was fake. He admitted that he received the passport from an agency in Singapore. Ever since the catastrophic collapse of the Terra ecosystem a year ago, Do Kwon,...Read More
NFT data firm Mnemonic has secured a $6 million seed extension round led by Salesforce Ventures. Other participants of the fundraiser include Polygon Ventures, Orange DAO, FIN Capital, and FJ Labs. The latest capital infusion will be deployed to accelerate the product roadmap of Mnemonic amid rising demand for deeper on-chain insights by expanding the...Read More
Lux Vending – doing business as Bitcoin Depot – has reportedly filed a lawsuit against the sheriff’s office of McLennan County, Texas, accusing it of unlawfully seizing $15,000 from a BTC automated teller machine (ATM). The authorities confiscated the amount to compensate an elderly victim who had become a victim of a cryptocurrency scam. Bitcoin...Read More
The Texas State Securities Board filed an emergency cease and desist order against crypto trading platform Abra and its Chief Executive Officer Bill Barhydt. The watchdog claimed that the company misled its customers and committed securities fraud by offering some of its products, such as Abra Earn. The regulator added that the firm has been...Read More
One of the most popular on-chain crypto sleuths, going by the Twitter handle ZachXBT, said he was being sued for an article he posted last year. The researcher said he is not wealthy, unlike the person suing him, and needs the community’s support for his defense. That support has been quite impressive so far. ZachXBT...Read More
US-based trading firm Robinhood announced the delisting of Solana (SOL), Cardano (ADA), and Polygon (MATIC) after the Securities and Exchange Commission (SEC) labeled them as securities in the suits against two crypto heavyweights. The company, which recently ventured into crypto, said the SEC’s claim cast a cloud of uncertainty around these assets and, as a...Read More
EOS once charted in the top ten cryptocurrencies by market cap. Now it stands in the top 50. The setbacks in its journey have been one of the most talked about in the industry. But EOS Network Foundation’s La Rose believes the formative years of EOS have taught them a lot and that the blockchain...Read More
The Securities and Exchange Commission alleged that some of the largest altcoins, such as ADA, MATIC, and SOL, are unregistered securities. Most assets slumped in value shortly after the allegations went out. Now, though, the organizations between the blockchains and the tokens have published official statements to refute the SEC’s claims. Polygon Responds MATIC traded...Read More
Arbitrum has managed to rake in a significant market share as demand for Ethereum rollups soars. According to data shared by CoinShares, Arbitrum remains the top destination for capital flows away from Ethereum, among other protocols as well as layer 2s. As of May-end, the network attracted capital worth $4 billion. Closely following Arbitrum is...Read More
The situation between Coinbase, Binance, and the United States Securities and Exchange Commission is likely to get ugly before a resolution is reached in one direction or another. However, Ripple has been at the forefront of the SEC’s legal actions as it received the first blow from the securities regulator during the winter of 2020....Read More
John Forsyth, a Missouri emergency room doctor, crypto advocate, and co-founder of crypto project Onfo (ONFO), was recently found dead in northwest Arkansas after being reported missing for over a week. The 49-year-old man was last heard from on May 21 through text messages with his fiancée. Authorities told the deceased’s brother Richard Forsyth that...Read More
The non-custodial decentralized crypto wallet Atomic Wallet – with a reported user base of over five million customers – said some of its users complained about having their digital assets drained. Later reports suggested that numerous users had six figures worth of crypto wiped out, while the largest victim lost nearly $3 million worth of...Read More
This year, Ethereum’s network officially transitioned to a Proof-of-Stake consensus algorithm, leaving Proof-of-Work forever behind. One of the multiple implications The Merge has had on the protocol is that there are no longer Ethereum miners. Validators secure the network now, and the path to becoming one is supposed to be tremendously simplified – deposit 32...Read More
The cryptocurrency industry continues to comingle with that of artificial intelligence in what is reported as a new deal between tech heavyweight Microsoft and former Ethereum miner – CoreWeave. According to recent coverage by CNBC, Microsoft has signed a deal with the former Ethereum miner – CoreWeave. It’s worth noting that CoreWeave has spun up...Read More
Bitcoin’s network fundamentals have continued to explode this year. The price side of things, however, has been disappointing recently. With its stagnating since mid-March, concerns about possible downside targets stretching toward $20,000 have emerged. Despite some encouraging signs in recent months, Bitcoin’s latest retreat dragged its price below $27,000. Bitcoin’s Key Support Areas As the...Read More
Tether – the issuer of stablecoin USDT – announced expanding its presence in Georgia with an investment in a payment processing company called, CityPay.io. The move is deemed as an “important milestone” for the payment processing industry benefiting customers across Georgia and CIS. According to the official blog post, Tether aims to bring greater efficiency...Read More
Should bitcoin start resembling more the price performance as well as the investment structure of gold, its price could skyrocket to $45,000, according to a note by JPMorgan’s analysts. However, the multinational investment bank believes there’s a big catch. Bitcoin’s YTD performance has been rather impressive, as the asset entered 2023 at under $17,000 following...Read More
Floridian programmer and an early Bitcoin miner named Laszlo Hanyecz’s purchase of two pizzas with Bitcoin in 2010 has been etched into history, marking a pivotal moment for cryptocurrency. Since then, Bitcoin Pizza Day is celebrated every year on May 22nd. However, scammers are lurking even on that day. In light of this historic event,...Read More
The United States Federal Bureau of Investigation (FBI) issued a warning on fake job ads that lure people to Southeast Asia, where “victims are held against their will and forced to commit international crypto scams on unsuspecting victims.” These scam mills usually put up ads on social media and lure their victims by promising well-paid...Read More
South Korea’s ruling party has called for early enforcement of the law that seeks the country’s lawmakers and high-level government officials to declare their cryptocurrency-related assets. The proposed bill would require local officials and lawmakers to declare all personal crypto holdings over 1 million Korean won (worth around $760). The move was prompted by a...Read More
American basketball legend Shaquille O’Neal is facing a new lawsuit for promoting the Solana-based crypto project, Astrals. According to the class action lawsuit filed with a Floridan court by plaintiff Daniel Harper, Shaquille shilled the Astrals token through posts and videos on several of his social media handles. O’Neal Faces Lawsuit Over Astrals Project According...Read More
In response to the SEC’s arguments against its petition for a writ of mandamus, Coinbase said the financial regulator “is talking out of both sides of its mouth, and it is wrong at each end.” The crypto exchange’s chief legal officer Paul Grewal described the mandamus as “the tailor-made remedy for the extraordinary facts.” The...Read More
Users of the cross-chain router protocol Multichain have been reportedly experiencing delays in receiving their funds following an upgrade. There have also been rumors about the arrest of the Multichain team, which is yet to be confirmed. MULTI Sinks 24% in 24 Hours Several Multichain users have complained about their funds being stuck in the...Read More
In a recent interview with WSJ, Tesla’s CEO said he cannot advise people to allocate money in the cryptocurrency market. He also touched upon Dogecoin, explaining why it is his favorite digital asset. Elon Musk has had a rocky and controversial relationship with the cryptocurrency industry for the past several years. It ranges from buying...Read More
