Ethereum is the second-largest cryptocurrency ranked by market cap. A recent Merge “upgrade” to a proof-of-stake consensus mechanism and other changes raised discussion of a possible “flippening” — a situation where Ethereum unseats Bitcoin as the top cryptocurrency in the market. Instead, Ethereum’s dominance could be in “grave” danger, if an ominous-sounding Japanese...
Bitcoin (BTC) has nosedived following the FTX collapse and the increased crypto volatility. It's anyone's guess when the most popular crypto will rebound to its most robust state. In fairness, the world's most sought-after crypto has improved a bit, reaching the $16,700 level, yet it still not enough to ease the worries of many investors. Here's a quick glance at how Bitcoin has...
Troubled Crypto lender Hodlnaut has laid off 80% of its employees and filed for judicial intervention in Singapore in a bid to decrease costs and stay afloat. On Friday, Hodlnaut, which offers cryptocurrency investment options in approved institutions with interest, disclosed liquidity issues. Hodlnaut confirmed that it ended the employment of approximately 40 individuals "to cut corporate expenses." According to its statement, the...
Bitcoin price is again being challenged by all sorts of elements. It's a "fresh chill," says one analyst as the crypto winter shows no signs of let-up. The cryptocurrency market as a whole is beginning to exhibit indications of weakness (and that's not surprising, actually), with capital outflows eroding recent gains. As a result, Bitcoin price, which has corrected while struggling to maintain...
The U.S. Securities and Exchange Commission announced charges against organizations associated with Dragonchain as well as its chief architect John Joseph Roets for allegedly generating $16.5 million through "unregistered crypto asset" securities offerings. The court petition accuses the defendants of breaching the Securities Act of 1933 by amassing millions of dollars in 2017 through the sale of Dragon (DRGN) tokens in an initial...
Russia moves forward with its plans to create its own digital ruble by 2024. Recently, the Central Bank of the Russian Federation (CBR) released a draft proposal outlining the primary monetary policy parameters for the next three years. The anticipated launching in 2024 would take place in a significant year for the country as it is set to hold presidential elections in March...
TORN, the token of Tornado Cash, plummeted by nearly a quarter in the last 24 hours after Dutch authorities arrested a suspected developer for the crypto transaction mixing protocol in Amsterdam on Friday. After the US Treasury added the mixing protocol on its sanctions list, Tornado Cash noticed a significant decrease in deposits and a rise in withdrawals. According to sources, barely $6...
The Tornado Cash chronicle unfolds. Authorities in the Netherlands apprehended a man suspected to be a Tornado Cash developer in Amsterdam on Wednesday. The Fiscal Information and Investigation Service said that the unidentified 29-year-old man was reportedly involved in money laundering via the decentralized Ethereum mixer Tornado Cash. In the Netherlands, FIOD is the body in charge of investigating financial fraud and other...
Hackers are enjoying brisk "sales" this year and the targets seem to be getting aplenty. According to a research, the web3 ecosystem suffered a "loss" of around $1.23 billion in the first quarter of 2022, Adrian Hetman, a tech lead at crypto security firm Immunefi, said. This figure accounts for any funds lost as a result of hacks and fraudulent activities. Hetman stated...
Crypto is always on top of the list, at least that's what has come up in a study done by a popular cryptocurrency price tracking firm. According to a new research, Nigeria is hands down the most cryptocurrency curious country in the world. The West African nation has the highest rate of interest in digital currency, despite the present bear market. The study,...
Bitcoin is sometimes too valuable to let go. In fact, many people - and in this case we call them "koalas" because they love to cling on and never let go - hold on to their precious crypto even when everything else seems hopeless. Predictability may be a vague word especially in an extremely volatile crypto space. In fact, it’s very hard to...
Crypto exchange Coinbase disclosed a $1.1 billion loss on revenue of $803 million in the second quarter, a bigger-than-anticipated loss as investors apprehensive about this year's volatility in assets avoided trading in cryptocurrencies. Both numbers fell short of analysts' forecasts and are below what the company reported in the first three months of the year. This is the second consecutive quarter that Coinbase...
Bitcoin had an impressive performance in July, along with major digital tokens that have hit their targets in the last four weeks. Bitcoin (BTC) increased by over a quarter, reaching $24,000, while Ethereum increased by approximately 55 percent, trading around $1,700. In the first week of July, the price of BTC led a strong increase in the price of all cryptocurrencies. Not unexpectedly,...
The expectation of the Merge, a long-awaited improvement to the Ethereum network, is the primary factor for the recent rebound in cryptocurrencies, according to JP Morgan, which thinks the market has found its bottom despite low trading volumes. Bitcoin (BTC) and Ether (ETH) have increased by 35% and 101%, respectively, since their mid-June lows, and the overall market value of cryptocurrencies has regained...
PredictIt, a crypto and fiat currency gambling platform that enables Americans to wager on who will be elected to Congress or the next president, has been stripped of its legal power to do business in the United States. The Commodity Futures Trading Commission (CFTC) has ordered the crypto and political gambling platform to suspend operations for breaking the conditions of its agreement. The...
Bitcoin and its underlying technology has earned the trust and praise of some of the most notable figures in banking and finance. For instance, the director of Brazil's central bank only has good things to say about the technical features of the crypto. According to Central Bank of Brazil chief Fabio Araujo, Bitcoin is a major "financial innovation" that has given rise to...
Elon Musk has so many tactics he can employ to turn his back on Twitter, which filed a lawsuit against him for canceling the $44 billion contract to acquire the platform. Tactic No. 1 - Accuse the social media giant that its platform is plagued by spam bots, phony accounts and whathaveyou, and give him a strong argument to ditch the deal. Tactic...
Elon Musk and Twitter are set for another court showdown as the billionaire launches a countersuit against the social media giant, which sued him for canceling the $44 billion contract to acquire the platform. Tesla and SpaceX CEO Elon Musk and his legal counsels are alleging in a recent filing that Twitter hoodwinked them about the social media giant's "key metrics," and manipulated...
Hackers from North Korea has reportedly found a new victim in DeBridge Finance, a cross-chain interoperability and liquidity transfer protocol, multiple sources disclose, Saturday. Based on DeBridge's initial assessment, the attempted cyberattack likely originated from the notorious North Korean hacking syndicate, Lazarus Group. Several DeBridge team members received a faked email containing a PDF file titled "New Salary Adjustments"...
Fintech company Revolut continues its cryptocurrency campaign with intentions to boost its digital currency team by 20%, undeterred by the bear market's continuous fragility. Across the next six months, the British fintech startup wants to expand its crypto-focused employees in the United States, the United Kingdom, and Europe. The fintech company is seeking 13 posts connected to cryptoassets, including computer programmers and financial...
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