The recent performance of Ethereum’s native token, Ether (ETH), has been less than stellar. It is currently trading at a 15-month low against Bitcoin (BTC), reaching its lowest point since Ethereum switched to proof-of-stake (PoS). This raises concerns about whether ETH will continue to weaken throughout the remainder of 2023. To gain a clearer understanding
Cryptocurrency enthusiasts and investors have been taken aback by the recent findings brought to light by Conor Grogan, a director at Coinbase. Grogan shared on social media that on-chain data uncovers the startling fact that Alameda Research, a prominent crypto investment firm, has minted a staggering 39.55 billion USDT tokens. This astonishing figure represents a
The NFT market has often been met with mixed reviews, but Anndy Lian, Head of Partnerships for ByBit, sees a bright future for the industry. In a recent article, Lian challenges the belief that the NFT market has reached its peak. He argues that NFTs are not just a passing trend but rather an opportunity
Friday, October 12th, 2023 – ByBit exchange launched Wall Street Memes ($WSM) perpetual futures trading on Thursday, causing a surge in the token’s price. The newest meme coin in the market, Wall Street Memes, experienced a 19% increase in value, reaching $0.0394. Although still considered undervalued in comparison to Dogecoin and Shiba inu, with market
In a shocking revelation, the former CEO of investment firm Systematic Alpha Management LLC (SAM), Peter Kambolin, has confessed to orchestrating a deceptive scheme known as “cherry-picking.” This illegal practice not only caused significant losses for investors but also allowed Kambolin to siphon off funds for personal gain. By analyzing the US Department of Justice
The trial against FTX co-founder Sam Bankman-Fried took an intriguing turn as Zac Prince, the CEO of defunct crypto lender BlockFi, provided testimony in a Manhattan federal courtroom. Prince’s appearance provided valuable insights into the intricate relationship between BlockFi, FTX, and Alameda Research. According to a Bloomberg report, Prince revealed that BlockFi had substantial exposure
In the fast-paced world of cryptocurrency, Launchpad XYZ has recently made waves with its presale attracting significant attention from crypto whales. With a focus on AI trading in the crypto market, Launchpad XYZ aims to become an all-encompassing web3 ecosystem that caters to both newcomers and seasoned investors alike. Despite being slated for a comprehensive
A recent court ruling has led to a significant development in the U.S. Securities and Exchange Commission’s (SEC) stance on Bitcoin exchange-traded funds (ETFs). The SEC has chosen not to appeal the court’s decision, which found the rejection of Grayscale Investments’ application for a spot Bitcoin ETF to be unjust. This decision holds the potential
A trader on Aave, a decentralized liquidity protocol, has found themselves in a challenging situation as they attempt to repay outstanding debt. The trader has taken on multiple stablecoins, including USDC, USDT, and DAI, worth approximately $8 million, while depositing various assets such as WBTC, Maker (MKR), and Ethereum (ETH) valued at around $11 million.
Ether (ETH) price has experienced a significant 7% decline between October 6 and October 12, hitting a seven-month low at $1,520. While there was a slight rebound to $1,550 on October 13, it is evident that investor confidence and interest in Ethereum are waning, as indicated by multiple metrics. This decline does not bode well
In a shocking revelation, Caroline Ellison, co-founder of FTX-linked hedge fund Alameda Research, testified on October 11th that disgraced FTX founder Sam Bankman-Fried paid a staggering $150 million in bribes to Chinese government officials in 2021. This amount far exceeded the initial disclosure of $40 million. Ellison further disclosed that two years prior, Chinese law
Magic Eden, a leading multichain NFT platform, has unveiled its latest innovation: the LayerZero Bridge & Swap. This groundbreaking tool allows for seamless token swapping across various blockchains. With LayerZero, a cross-chain communication protocol, Magic Eden aims to facilitate direct and trustless interactions between multiple blockchains. By eliminating the need for centralized intermediaries like bridges
Crypto investment firm, Paradigm, has made significant strides by filing an amicus brief to aid Binance in their move to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. Their involvement stems from a deep-rooted concern to ensure that the SEC does not interpret securities laws in a way that jeopardizes the growth of cryptocurrency
In a recent blog post, the development team of Uniswap, the world’s largest decentralized crypto exchange by cumulative volume, announced the launch of its closed beta Android version of the mobile app. This move marks a significant expansion for Uniswap, as it was previously only available on PC and iOS devices. With over $1.7 trillion
Bitcoin, the world’s leading cryptocurrency, is gearing up for its next halving event scheduled for post-April 2024. As this highly anticipated event approaches, blockchain analysts have now shifted their attention to yPredict, an AI trading platform that is currently in the final stages of its crypto presale. This article delves into the potential impact of
The recent rumors surrounding the US Securities and Exchange Commission (SEC) granting Ethereum a regulatory free pass have sparked a heated debate within the crypto community. Cardano founder Charles Hoskinson recently weighed in on the issue, providing his thoughts on the matter. However, a critical analysis reveals potential biases and raises questions about the fairness
The Shiba Inu community has recently been subjected to various fraudulent activities that require immediate attention. From misleading emails to unofficial LinkedIn accounts and suspicious decentralized applications (Dapps), users need to exercise caution to protect themselves from scams and deceitful actors. This article aims to shed light on the warnings issued by reputable sources and
Former engineer Aditya Baradwaj has shed light on the lax security practices within Alameda Research, which ultimately resulted in staggering losses of nearly $200 million. Baradwaj reveals that rather than prioritizing crucial risk management protocols, the founder of Alameda and FTX, Sam Bankman-Fried (SBF), focused on rapid company expansion. This decision overlooks standard engineering and
In a joint effort, U.S. Senators Elizabeth Warren and Angus S. King, Jr. have raised concerns over the delay in implementing recently proposed tax reporting rules for cryptocurrency brokers. The senators addressed a letter to the U.S. Department of the Treasury and the Internal Revenue Service (IRS), highlighting their worries about the significant loss in
Real estate-backed stablecoin USDR recently faced a significant setback as it lost its peg to the U.S. dollar. The project team behind USDR, Tangible protocol, revealed that a rush of redemptions caused a draining of liquid assets, particularly Dai (DAI), from its treasury. USDR, a decentralized finance project that seeks to tokenize housing and other
The Ethereum staking protocol, Lido Finance, recently encountered a major setback involving 20 slashing events. These incidents were caused by various infrastructure and signer configuration issues from validators operated by Launchnodes. The slashing events occurred on October 11th, resulting in substantial financial losses and penalties for Lido Finance. In this article, we will delve into
The Ethereum network, renowned for its decentralized applications and smart contracts, has recently witnessed a decline in gas fees. On October 8, 2023, the average gas fee on the Ethereum network reached 8.8 Gwei, a level not seen since October 2, 2022. This decrease can be attributed to a reduction in user engagement across various
The Open Network (TON) Foundation, in partnership with Alibaba Cloud, has announced an ambitious plan to set up 256 servers for a performance testing event scheduled for October 31, 2023. The objective of this event is to establish the TON blockchain as the world’s fastest blockchain and earn accreditation from the Guinness World Records. This
The Federal Open Market Committee (FOMC) recently held a meeting reaffirming its dedication to raising interest rates. Despite the complex economic environment characterized by elevated inflation, slowing job gains, and solid GDP growth, the committee believes that at least one more increase is necessary in the near future. During the meeting, it became apparent that
Since September, Chainlink (LINK) has shown considerable price gains, outperforming major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). Being the leading decentralized blockchain oracle solution, Chainlink currently holds the 15th position in terms of market capitalization, excluding stablecoins. However, despite its recent success, there are concerns about the project’s future and the possibility of
Bitstamp, one of the leading cryptocurrency exchanges, recently made a challenging announcement that it will be discontinuing its services to customers in Canada. The decision, which is scheduled to take effect on January 8, 2024, was not taken lightly by Bitstamp’s CEO, Bobby Zagotta. In a statement, Zagotta expressed the company’s gratitude towards its Canadian
Launchpad XYZ, a promising crypto startup, has successfully raised more than $1.88 million in its ongoing crypto presale. This achievement paves the way for the highly anticipated debut of its multifaceted web3 ecosystem in 2023. The platform aims to cater to a wide demographic, providing educational resources for newcomers and sophisticated trading tools for experienced