The US Securities and Exchange Commission (SEC) has recently raised concerns over the proposed repayment strategy in the ongoing FTX bankruptcy case. The plan to repay creditors using stablecoins or other digital assets has sparked controversy, with the SEC reserving the right to challenge these transactions under federal securities laws. This move has added another
admin
The crypto space faced significant challenges in August 2021, with over $313 million in losses reported due to more than ten different hacking incidents. Shockingly, 93.5% of the stolen funds were a result of just two major phishing attacks during that period. These incidents, as highlighted by blockchain security firm PeckShield, cumulatively accounted for a
The latest Crypto Wealth Report 2024 by Henley & Partners has revealed some staggering statistics regarding the growth of wealth in the crypto market. The number of individuals holding over $1 million in digital assets has surged by 95% to 172,300, with the total value of the crypto market reaching $2.3 trillion, an 89% increase
In the month of August, data from bitcoin on-chain analysis platform Bitbo revealed that miners of the largest cryptocurrency experienced a significant decline in revenue generation. The figures showed that BTC mining activities only secured $827 million, marking a more than 10% decrease from the previous month’s $927.35 million. This downturn also represented a 57%
Last week, digital asset investment products experienced $305 million in outflows, signifying a notable shift in market sentiment. This negative sentiment was prevalent among various providers and regions, with CoinShares highlighting the impact of stronger-than-expected economic data from the United States. The report attributes this downturn to the reduced likelihood of a 50-basis point interest
The past 24 hours have not been kind to the cryptocurrency market, with Bitcoin’s price dropping to a 2-week low of $57,100. This comes after a week of mixed performance, where Bitcoin briefly surged to over $65,100 before facing a steep decline. The bearish trend seems to have continued, with Bitcoin struggling to regain its
Yuga Labs, known for the popular Bored Ape Yacht Club, recently announced a new initiative that could drive further innovation for the company. The co-founder and current CEO, Greg Solano, revealed the creation of a new division called “The Workshop.” This team, described as “no fat, just doers,” is dedicated to developing emerging products for
OKX SG, the Singaporean entity of the crypto exchange OKX, made a significant move by obtaining a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore as it allows businesses to operate without daily or monthly transaction limits. Companies seeking this license must meet specific
Cardano recently completed its Chang upgrade, transitioning to a decentralized governance system. This new system allows ADA holders to actively participate in shaping the future direction of the network. By enabling on-chain voting, introducing Delegate Representatives, enhancing smart contract capabilities with PlutusV3, and implementing a new governance structure, Cardano is taking a significant step towards
In a groundbreaking turn of events, a London resident named Habibur Rahman has found himself in legal trouble for operating a Bitcoin ATM without the proper registration. Rahman, who resides in Langdon Crescent, East Ham, was taken into custody following a raid by Kent Police at a gadget shop in Chatham on April 28, 2023.