Crypto

Mining is an essential component of many networks, particularly Bitcoin, as it involves verifying transactions and packing them into blocks to be sent to the blockchain. It is crucial to the concept of cryptocurrency, but it is also very technical. It requires complex hardware and software setups, sufficient electrical supply, and a dedicated storage space

Reginald Fowler, a 64-year-old entrepreneur from Arizona and former co-owner of the professional American football team Minnesota Vikings, has been sentenced to 75 months in prison. This comes after a joint investigation by the FBI’s Money Laundering Squad and Internal Revenue Service-Criminal Investigations. Fowler has also been ordered by the court to pay a forfeiture

According to a study conducted by the Toronto Metropolitan University (TMU), approximately 35% of Canadians who own digital assets have become victims of crypto fraud. The research analyzed data from a survey of 2,000 Canadian residents and found that fraudulent schemes related to cryptocurrencies are a significant issue in the country. The study also revealed

The cryptocurrency market has experienced a significant drop in the past 24 hours, and some altcoins have performed worse than others. Several of the worst-performing cryptocurrencies were named in the lawsuit that the US Securities and Exchange Commission filed against Coinbase. The SEC alleges that these altcoins are securities, including Cardano’s ADA, Solana’s SOL, NEAR,

Vitalik Buterin, the co-founder of Ethereum, has pledged $100 million for Covid relief. This donation is in addition to the $90 million that was donated last year through the Crypto Relief project. The Donation Buterin, along with Polygon’s Sandeep Nailwal, jointly decided that there were high-impact projects that needed follow-through grants. Therefore, they decided to

The altcoin market is currently experiencing a significant drop in value, with major cryptocurrencies such as Solana (SOL), Polygon (MATIC), and Cardano (ADA) being heavily impacted. The heatmap below illustrates the current state of the market, with investors appearing to lack confidence during this time. While the reasons for this are not entirely clear, recent

In a recent interaction, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has made it clear that digital assets are securities. He asserted that they should be registered with the agency before being offered to investors or meet the requirements to seek exemptions. He also added that exchanges that list cryptocurrencies

After more than a decade, the Department of Justice (DOJ) has finally charged the hackers who stole hundreds of thousands of Bitcoins from the now-defunct cryptocurrency exchange giant, Mt. Gox. The primary culprits behind the heist have been identified as Russian nationals, Alexey Bilyuchenko (43) and Aleksandr Verner (29). The DOJ stated in a press

Commonwealth Bank of Australia (CBA), the largest bank in Australia, has announced new measures to battle scams in the country. As part of these measures, the bank will temporarily decline “certain” payments to cryptocurrency exchanges. The CBA will decline or hold crypto payments for 24 hours or more and place a A$10,000 ($6,650) limit on

According to Mike McGlone, Senior Macro Strategist for Bloomberg Intelligence, Ethereum (ETH) is currently trapped under the $2000 price point. Despite a stock rally, ETH has failed to sustain itself above that price, leading McGlone to believe that $2000 is a “resistance ceiling”. The NASDAQ 100 stock index tapped a 52-week high in Q2, but

In December 2020, the United States Securities and Exchange Commission (SEC) charged Ripple with conducting an unregistered $1.3 billion security offering. The SEC alleged that Ripple’s cryptocurrency, XRP, is a security, which deprived potential purchasers of adequate disclosures about XRP and Ripple’s business and other important long-standing protections that are fundamental to the public market

Coinbase, a cryptocurrency exchange platform, saw a 13% fall on Tuesday following a lawsuit filed by the US Securities and Exchange Commission (SEC). The regulatory agency accused Coinbase of violating securities laws. However, the SEC is not the only regulator charging Coinbase. The Alabama Securities Commission (ASC) has also targeted Coinbase for its failure to

On Monday, the U.S. Securities and Exchange Commission (SEC) filed charges against Binance, one of the largest cryptocurrency exchanges in the world. The SEC’s charges allege that Binance and its U.S. affiliate, Binance US, offered and sold securities without registering with the agency and acted as an unregistered exchange, broker-dealer, and clearing agency. The allegations

The US Securities and Exchange Commission (SEC) has removed former commissioner William Hinman’s biography from its website. This comes just eight days before the SEC is required to provide unredacted copies of Hinman’s emails, which are seen as essential to the agency’s lawsuit against cryptocurrency giant Ripple. Hinman’s biography on the SEC’s site now only

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. He was last heard from on May 21 through text messages with his fiancée. Authorities told the deceased’s brother Richard Forsyth that John’s corpse

Magic, a San Francisco-based wallet-as-a-service (WaaS) provider, has raised $52 million in a strategic funding round led by PayPal Ventures. The latest capital infusion brings the firm’s valuation to just under $500 million. Other participants of the fund round include Cherubic, Synchrony, KX, Northzone, and Volt Capital. Expanding Functionality and Integration The latest capital infusion

Blockchain security company Beosin has released a new report which shows that the total amount of crypto assets lost to exit scams and rug pulls is higher than the amount stolen from decentralized finance (DeFi) projects through exploits and attacks. The report also reveals that losses from DeFi exploits in May were 79% lower than

In recent weeks, Ripple’s price has shown an increase after bouncing back from a notable $0.43 support level. This level has been reinforced by the 200-day moving average, while the price has surpassed the 50-day moving average at around $0.47. Ripple Approaching $0.6 Resistance Level Currently, Ripple is approaching the $0.6 resistance level, and if

Bitcoin has been trading at just above $27,000 over the weekend, remaining stuck amid lower trading volumes. While altcoins have been quiet on a daily scale, some such as LDO, INJ, and QNT have produced massive weekly gains. Last Monday, Bitcoin initiated a massive leg-up that resulted in tapping a three-week high at $28,500. This

The Ethereum network has made a significant shift from Proof-of-Work to Proof-of-Stake consensus algorithm. This has led to the elimination of Ethereum miners, now replaced by validators who secure the network. Becoming a validator is a simplified process, requiring depositing 32 ETH into the staking contract and running the appropriate software. Validators Queue Up However,

Artificial intelligence (AI) is a topic that has been gaining increasing attention from tech enthusiasts and beyond. In numerous articles, we’ve already had conversations with ChatGPT, one of the most popular AI-based chatbots, on topics ranging from healthcare to finance. This time, we asked ChatGPT for its opinion on a more general topic: how AI

The cryptocurrency industry has been transformed by the advancement of artificial intelligence technology. The soaring popularity of AI-based chatbots like ChatGPT and Google Bard has led to the development of a new category of cryptocurrencies centered around the field. Several coins saw exponential growth due to the rising interest in AI. However, there is another

On Thursday, OpenAI CTO Mira Murati’s Twitter account was hacked and used to promote a fraudulent crypto token, supposedly backed by the company. The tweet remained online for an hour, gaining 80,000 views before being taken down. The hacker promoted an ‘OPENAI’ token, described as a “groundbreaking token driven by artificial intelligence-based language models.” The

Elon Musk, the CEO of Tesla, has been accused of insider trading by memecoin investors in a court filing on May 31, 2022. The group had previously filed a $258 billion class action lawsuit against Musk and his companies in June 2021, alleging that they caused significant losses for Dogecoin holders. The recent filing claims

Coinbase, a popular cryptocurrency exchange, announced that it will launch Bitcoin and Ethereum futures contracts for institutional investors on June 5. Coinbase will launch these products through its CFTC-regulated Coinbase Derivative Exchange, offering lower fees than other US-regulated derivatives exchanges. The company has collaborated with leading Futures Commission Merchants (FCMs), brokers, and front-end providers to

Gemini, the crypto exchange led by the Winklevoss twins, has started the process of acquiring a crypto license to serve customers in the United Arab Emirates (UAE). The move is part of Gemini’s global expansion plans, and the exchange has revealed that it is engaging with stakeholders throughout the region to learn more about local

Binance, the world’s largest cryptocurrency exchange, has confirmed that it is “reevaluating” its talent base following reports of layoffs. This comes as a stark contrast to the company’s position of strength last year when it continued to expand during the bear market. Reports of Layoffs Reports of layoffs at Binance first emerged on Wednesday when