Elon Musk finds himself in a challenging situation as he attempts to contest the U.S. Securities and Exchange Commission’s (SEC) legal action against him. The SEC announced on October 5th that they are seeking to force Musk to comply with a subpoena and provide testimony regarding his acquisition of Twitter, now known as X. Despite
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The vulnerability of cryptocurrency exchanges has once again been brought to the forefront as UPbit, a prominent South Korean exchange, revealed that it experienced a staggering 159,061 hacking attempts during the first half of this year. This data, shared by the exchange’s operator, Dunamu, with South Korean politician Rep. Park Seong-jung, highlights the escalating risks
ApeCoin (APE) experienced a significant reversal in the past week, with the cryptocurrency plummeting nearly 20%. The sharp selloff has caused APE to hover below its immediate support zone, raising concerns about further declines. The decline began after APE reached a local high of $1.288 on October 2 but faced rejection at the key reverse
The nonfungible token (NFT) platform OpenSea has recently found itself at the center of controversy following accusations made on social media. An anonymous account known as NFT Ethics tagged OpenSea in a thread on X (formerly Twitter), asking for a response to allegations regarding the company’s former head of ventures, Kevin Pawlak. The accusations claim
Bitcoin price is currently showing positive signs above the $27,450 zone. After a failed attempt to clear the $28,500 resistance zone, BTC experienced a downside correction and tested the $27,200 support level. However, it has now rebounded and is eyeing a fresh increase towards the resistance level. Bitcoin is currently holding gains and trading above
Yuga Labs, the well-known venture-capital-backed startup behind the Bored Ape Yacht Club and CryptoPunks NFT collections, recently announced a significant restructuring process. While the exact number of layoffs remains undisclosed, the impact will primarily be felt by the US-based teams. Nevertheless, the company will retain over 120 employees after the restructuring. The CEO, Daniel Alegre,
The US Consumer Financial Protection Bureau (CFPB) is taking steps to address the growing concerns surrounding consumer protections in the cryptocurrency market. Recent significant hacks on platforms like Axie Infinity, Crypto.com, and FTX have showcased the vulnerabilities within this industry. As a result, the CFPB is evaluating the application of the Electronic Fund Transfer Act
In the world of Bitcoin, whales hold significant power due to their ability to influence the market through large-volume transactions. These transactions are closely watched by investors and traders, as they have the potential to set off a chain reaction in the market. Recently, on-chain data revealed the awakening of a particular whale that had
Bitcoin, the world’s largest cryptocurrency, has experienced a period of relative calm after a volatile week. Last Friday, the digital asset saw a sudden surge in volatility, causing its price to fluctuate wildly. However, in the days since, both Bitcoin and most altcoins have settled down, with minor movements to the downside. Just a week
Recently, the JPEX crypto exchange in Hong Kong faced a major scandal, resulting in the closure of its services and several arrests. The unlicensed exchange allegedly defrauded investors of a staggering $204 million. This incident has raised concerns about the safety and integrity of the crypto market in Hong Kong. In response to the JPEX
The journey of Ethereum’s native token, Ether (ETH), in 2023 has been marked by significant gains, with a rise of approximately 35% since the beginning of the year. However, despite its upward trajectory, Ethereum has encountered strong bearish rejections whenever it attempted to surpass the psychological resistance level of $2,000. This article delves into the
Binance, the leading global cryptocurrency exchange, has recently published its 11th reserve report, and the numbers are absolutely staggering. Among its extensive reserves, the report reveals a significant surge in Binance’s XRP holdings over the past month. This remarkable increase can be attributed to the massive influx of XRP deposits from investors into the exchange.
Solana, a layer 1 proof-of-stake blockchain, has recently introduced version 1.16, which includes an exciting feature called “Confidential Transfers.” This update focuses on enhancing user privacy by incorporating encrypted Solana Program Library (SPL) token transactions. While previous versions of Solana prioritized anonymity, version 1.16 aims to provide confidentiality. The adoption of this update by Solana’s
The recent fraud trial involving Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, has brought to light the corrupt relationship between FTX and Alameda Research. Gary Wang, co-founder of FTX, testified in court and provided detailed insights into the fraudulent actions perpetrated by Alameda Research. This article delves into the revelations and their implications for
The price of Solana’s SOL (SOL) experienced a significant surge of 20% between September 28 and October 6. This extraordinary rally begs the question: is Solana merely following the footsteps of Bitcoin (BTC), or are there other underlying factors driving its upward trajectory? Before this price breakout, SOL encountered a turbulent period after a U.S.
Elon Musk, the renowned entrepreneur and CTO of X (formerly Twitter), recently voiced his concerns about the state of regulatory agencies in the United States. In a tweet, Musk called for a comprehensive overhaul of these agencies and the establishment of a commission to hold accountable individuals who have abused their regulatory power for personal
Launchpad XYZ, a crypto startup and AI trading platform, has recently made headlines by securing over $1.85 million in its ongoing crypto presale. With its highly anticipated platform launch set for 2023, the company aims to provide an all-encompassing web3 ecosystem, catering to both beginner and experienced crypto enthusiasts. In this article, we will take
A recent report by JPMorgan has shed light on the rising concerns surrounding Ethereum staking in the wake of major network upgrades such as the Merge and Shanghai. While these upgrades have brought about several positive changes to the Ethereum network, they have also come at a cost. The report highlights two key issues: the
The cryptocurrency industry has long been plagued by concerns surrounding user privacy, security, and ethical business practices. Recent allegations against Arkham Intelligence, a prominent crypto intelligence firm, have once again brought these concerns to the forefront. Whistleblower platform Crypto Leaks released a report that accuses Arkham of exploiting vulnerabilities at major exchanges to uncover users’
Bitcoin has emerged as a major player in the NFT ecosystem, surpassing other blockchain networks like Ethereum, Solana, and Polygon in terms of the number of image-based inscriptions created. According to a report by Galaxy Research, over the first 200 days since the launch of the Ordinals protocol, 1.14 million inscriptions have been made on
An investigative report recently published in Forbes has raised concerns about the accuracy of Binance’s initial coin offering (ICO) for Binance Coin (BNB) back in 2017. This report suggests that Binance may have significantly overstated the success of the ICO, casting doubt on the credibility of the cryptocurrency exchange. According to the Forbes report, Binance
Recent court wins against the United States Securities and Exchange Commission (SEC) have propelled Ripple and its XRP token into the spotlight. This article explores the growing number of XRP wallets, the impact of Ripple’s court victories, and the speculation surrounding an IPO or settlement announcement. Rise in XRP Wallets The total number of XRP
Wall Street has a reputation for its secretive nature, especially when it comes to profit-making opportunities. Just as the rapid rise of electric vehicles caught traditional investors off guard, new AI crypto projects like yPredict could potentially disrupt the financial systems that the industry has relied on for years. This article delves into the rise
In a recent incident on October 5, the StarsArena Web3 app on the Avalanche network fell victim to a malicious attack, resulting in the loss of a significant amount of funds. The attack was brought to light by a user with the handle Lilitch.eth, who raised the alarm on X (formerly known as Twitter). According
The decentralized social media application Stars Arena has recently caused a significant increase in activity on Avalanche’s C-Chain network. This surge in network activity has also led to a rise in the price of Avalanche’s native AVAX token. Over the past 24 hours, the AVAX token has gained more than 8% in value. Stars Arena,
The Shiba Inu community has once again been targeted by scammers, as the SHIB Telegram admin account was recently compromised. This breach has resulted in the announcement of a fraudulent BONE token airdrop, falsely claiming that anyone can participate in the offering. It is crucial for community members to exercise extreme caution and remain vigilant
The cryptocurrency market has witnessed Ethereum (ETH) outperforming Solana (SOL) in the weekly chart for the past two years. However, according to technical analyst “CryptoGodJohn,” this trend is about to change, especially considering the candlestick arrangement of the SOLETH chart on the weekly chart. While this may seem like the perfect opportunity for traders to