Cryptocurrencies have been a topic of much debate and scrutiny in recent years, with the U.S. Securities and Exchange Commission (SEC) at the forefront of regulating this emerging industry. In a recent court filing, the North American Securities Administrators Association (NASAA) expressed its support for the SEC’s legal actions against Coinbase, a leading cryptocurrency exchange.
In an ever-evolving crypto industry, it is crucial for startups to have a solid financial plan and a well-designed token economy. Recognizing this need, FinDaS, a prominent tokenomics consulting company, has recently launched three new products to assist crypto startups in their financial planning and tokenomics design. The first tool introduced by FinDaS is the
The recent SBF trial took an unexpected turn as Alameda Research CEO, Caroline Ellison, took the stand and made shocking revelations about the company’s financial practices. In her testimony, Ellison confessed to committing fraud under SBF’s direction, admitting to diverting billions of dollars from FTX customer funds for failed investments and to pay off debts.
The rise of cryptocurrency trading has paved the way for innovative tools and platforms aiming to simplify the trading process. 3Commas, a well-known crypto trading bot, has emerged as a popular choice among investors worldwide. However, its popularity comes at a cost, making it an attractive target for malicious actors seeking to exploit vulnerabilities within
The cryptocurrency market experienced a significant event on Monday as the Ethereum price took a sharp downturn. This sudden drop was reportedly triggered by the Ethereum Foundation’s decision to sell coins, leading to a series of liquidation events that resulted in substantial losses for ETH traders. Within a day, on Tuesday, October 10, the Ethereum
In a significant development for the stablecoin market, Circle has recently announced its integration of USD Coin (USDC) natively on the Ethereum layer-2 scaling protocol Polygon. By taking advantage of Polygon’s scaling capabilities, Circle aims to provide users and developers with seamless access to USDC without the need for bridging to other blockchains. This article
Polygon’s native token (MATIC) has recently experienced significant challenges. Despite a 16.4% rally coinciding with the launch of Polygon 2.0 Goreli testnet, the resistance at $0.60 proved stronger than anticipated, resulting in a 10.6% decline. This decline was worsened by negative news regarding the departure of a key co-founder and weak activity in Polygon’s zero-knowledge
The Financial Conduct Authority (FCA) in the United Kingdom has recently imposed restrictions on Binance’s local partner, Rebuildingsociety.com. This move comes as the FCA aims to regulate and control unauthorized financial promotions. According to the regulator’s website, Rebuildingsociety.com, which is Binance’s affiliate in the UK, must revoke any previous approvals granted to unlicensed entities. The
The ongoing surge in on-chain cryptocurrency prices during Uptober continues to defy wider risk concerns in the crypto market. Despite the conflict between Israel and Hamas causing apprehension, the latest explosive token to gain attention is Snorlax token (SNOR), which has skyrocketed by over 500%. This surge follows a trend of pump-and-dump moon-shots in the
Chinese state-run newspaper, China Daily, has made a groundbreaking announcement that is set to revolutionize the country’s digital landscape. The newspaper has revealed its plans to establish its very own Metaverse and NFT platform, entering the world of blockchain-based digital assets. This strategic move highlights China’s recognition of the potential embedded in blockchain technology to
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
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