A meme began making its way around crypto Twitter earlier this month, pointing out that Bitcoin now has the number of active users that the Internet had in 1997. But the reality is even more interesting: Bitcoin most likely has far more users today than the Internet had the year Amazon debuted on Wall Street....Read More
Prominent crypto exchange-traded product (ETP) issuer has announced the launch of 21Shares Toncoin Staking ETP. This new ETP aims to offer investors a regulated avenue to capitalize on the expansion of The Open Network, a platform facilitating applications such as Telegram, which boasts a user base exceeding 900 million in Q1 of 2024. 21Shares’ Toncoin...Read More
The Munchables hacker, who recently exploited a weakness in the protocol and drained more than $62 million worth of Ether (ETH), has returned the keys holding the stolen funds. According to blockchain sleuth ZachXBT, the hacker allegedly worked as a developer on Munchables and has possible ties to North Korea. Munchables Loses Over $62 Million...Read More
BTC hit $71,375 on March 26, returning close to its all-time high of $73,738 earlier this month, but it failed to break through to a new peak. This was largely due to profit-taking, which has accelerated, according to on-chain analytics provider Glassnode. “Several on-chain indicators have flagged an uptick in profit-taking events,” the firm noted...Read More
Major crypto exchange KuCoin, along with two of its founders, was alleged to have failed to implement anti-money laundering (AML) and know-your-customer (KYC) procedures. According to prosecutors, the absence of AML and KYC on KuCoin enabled the platform to be used to launder illicit funds from criminal proceeds. KuCoin and Founders Slammed With Charges In...Read More
The notorious crypto hacking group known as Pink Drainer has wreaked havoc in the DeFi sector. Recent findings by PeckShield reveal that Pink Drainer-affiliated addresses have staked a substantial 12 million DAI into the DeFi lending protocol Spark, constituting nearly 1.194% of the total sDAI tokens. This alarming revelation essentially means that Pink Drainer is...Read More
FTX is looking to sell a majority of its shares in artificial intelligence startup Anthropic to over 20 buyers, including an Abu Dhabi investment company and Jane Street Global. The sale could provide ample funds for the bankrupt crypto exchange to repay creditors affected by FTX’s collapse. FTX to Sell Over 29 Million Shares from...Read More
Amidst a broader market rebound, several DeFi-related projects appear to be bustling with development activity. Topping the list is Cosmos-based decentralized exchange Osmosis, which experienced a notable surge in development activity, emerging as the leading DeFi project over the past month. Osmosis Leads DeFi Development According to the data shared by Santiment, Osmosis recorded more...Read More
Tether, the company behind USDT, the largest stablecoin by market capitalization, has announced plans to double down on its artificial intelligence (AI) focus and recruit relevant talent to that effect. According to an official release, the stablecoin provider said the move highlights its dedication to advancing AI efficiency and accessibility in the technology sector. Tether...Read More
Over the weekend, the fifth richest Bitcoin address transferred $6 billion worth of the asset to three new wallets. The transfer occurred amid increased institutional interest in BTC, driven perhaps by the upcoming halving in April. Bitcoin Wallet Transfers $6 Billion in Bitcoin Initially funded with 94,500 BTC ($6.05 billion) in 2019, the address remained...Read More
Worldcoin is yet again under scrutiny due to its “proof of personhood” project in Europe, which seeks to expand its user base by having individuals verify their humanity through eyeball scans. As per the Worldcoin website, the project has over 4.5 million sign-ups from 120 countries. Worldcoin Ordered to Halt Biometric Data Collection According to...Read More
Bitcoin reclaimed another crucial resistance area as it climbed above $69,000 this week. With the upcoming halving drawing near, investors are preparing for the price fluctuations that accompany this event. However, the latest data suggests a promising trend for the leading crypto assets as two critical factors shift positively. According to CryptoQuant’s analysis, the Coinbase...Read More
Ark Invest has sold 74,291 Coinbase shares, valued at $20.8 million, across three exchange-traded funds, per their latest trade filing on Monday. This sale comes following the firm’s sale of over $100 million worth of Coinbase shares last week when the price of COIN reached new yearly highs. Ark Invest Sells Coinbase Shares Ark Invest...Read More
For the first time since March 15, the net aggregate flow of funds to the newly launched batch of spot BTC ETFs is positive. March 25 saw a net inflow of $15.4 million, reversing a trend that has resulted in net outflows of $887 million over the past week. While yesterday’s inflow figure is the...Read More
As per a Bloomberg report, institutional clients of Goldman Sachs’ Asia Pacific division are displaying revitalized interest in Bitcoin, Ether, and other crypto assets. This trend indicates a notable evolution in the investment landscape for traditional financial institutions. According to Max Minton, the head of digital assets at Goldman Asia Pacific, a significant number of...Read More
As the much-anticipated Bitcoin halving event looms in late April, a migration of outdated mining equipment from the United States to regions offering cheaper electricity is underway. This migration is driven by the need to maintain profitability due to reduced mining rewards and escalating operational costs. US Bitcoin Miners Prepare for Halving According to a...Read More
Base, Coinbase’s layer-2 blockchain initiative for reducing Ethereum transaction fees, seems to be witnessing massive demands of increased network activity. As a result, its TVL also rose sharply, hitting a new milestone, surpassing $2 billion this week. One of the major reasons for the surge in activity of Base was the activation of the Dencun...Read More
Emin Gün Sirer, the founder and CEO of Ava Labs, has sounded an alarm on the rise of substandard layer 2 (L2) solutions in the crypto space. Drawing parallels with the fallout from the FTX collapse, he cautioned investors about the dangers associated with investing in these “trash” projects. Ava Labs Founder Highlights L2 Red...Read More
CommEX, a crypto exchange that previously took over Binance’s operations in Russia after it decided to exit the country, has revealed its intention to cease operations in the country. Binance had initially announced its departure from Russia in September 2023, stating that the process would take approximately one year to complete. CommEX Announces Gradual Wind-Down...Read More
The Nigerian government has slammed the world’s largest cryptocurrency exchange, Binance, with four counts of tax evasion charges as the saga between the entities deepens. According to a report from local media Premium Times, the Federal Inland Revenue Service (FIRS) filed the charges at a Federal High Court in the nation’s capital, Abuja, on March...Read More
Investment products in digital assets witnessed a significant weekly outflow of $942 million, breaking the continuous seven-week streak of inflows reaching $12.3 billion. According to the CoinShares, this shift can be attributed to investor hesitation. Hesitant Investors Cause US ETF Inflows Dip The latest edition of Digital Asset Fund Flows Weekly Report revealed that the...Read More
Polygon’s beta version of the zero-knowledge Ethereum Virtual Machine (zkEVM) became the latest network to hit a snag, but the team was swift in controlling the damage and applied the necessary fixes. Over the weekend, Polygon reported that its zkEVM encountered downtime because of an issue with its blockchain sequencer. In its latest update, the...Read More
CEO and co-founder of Real Vision Group and Global Macro Investor Raoul Pal said macro and crypto summer has already started in a post on X on March 25. The prediction is part of his ‘Everything Code’ thesis that explains market movements due to macroeconomic influences. It is all driven by liquidity, which bottomed at...Read More
Crypto markets rebounded over the weekend following the Fed’s rate decision on March 20, but this week also has a lot of key economic data. The week will be shorter, with TradFi markets closed for a holiday on March 29 for Good Friday. However, investors are awaiting Fed Chair Jerome Powell’s speech to get more...Read More
Jian Wen, a former takeaway worker residing in north London, was found guilty of one count of money laundering after she was found with Bitcoin worth over $2.5 billion (£2 billion) in 2018. Jian Wen assisted a Chinese fugitive known to Wen as Zhang Yadi, whose real name is Qian Zhimin, in laundering the BTC...Read More
All eyes are on the upcoming Bitcoin halving scheduled for mid-April 2024, which will reduce the rewards granted to miners for validating transactions by half. This will mark the fourth occurrence of a halving event in Bitcoin’s history. Although the market is currently experiencing a downturn, Bitcoin has seen significant growth of more than 150%...Read More
Bitcoin (BTC) had entered a period of price correction following its ascent to an all-time high of $73,700. Miners, whales, and other market participants, including large investors, had begun selling their BTC to make profits. However, analysts at CryptoQuant believe the Bitcoin bull cycle is far from over, as price valuation metrics are largely shy...Read More
After a decade of waiting, rejecting, and delaying at best, the United States Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs at the start of 2024. Their impact on BTC’s price has been undeniable as the demand for those products among traditional investors has skyrocketed. Now that there are existing exchange-traded...Read More
A 46-year-old housewife in Hong Kong has reported losses of 7.1 million Hong Kong dollars ($908,000) after investing in a fraudulent crypto investment platform. According to a report by the South China Morning Post, people familiar with the matter revealed that the woman did not realize she had been scammed until a year after the...Read More
The United Nations (UN) Security Council has released a report showing North Korea earns 50% of its foreign exchange earnings from cyberattacks. The council is also investigating involvement in cyberattacks associated with cryptocurrency companies, which reportedly caused losses of approximately $3 billion (450 billion yen). North Korea’s Cyberattacks Target Cryptocurrency North Korea primarily conducts cyberattacks...Read More
