Author: Mahamat Ashraf

Article written by Mahamat Ashraf

US regulators are set to redefine “money” to include cryptocurrencies

August 20, 2024 1 min read

US federal agencies are in the process of redefining the term “money” to encompass crypto, subjecting them to the same reporting obligations as conventional currency. The objective of this measure is to guarantee that financial institutions regard crypto with the same level of importance as traditional currency when disclosing both domestic and international transactions. The Department of the Treasury and the Financial Crimes Enforcement Network are spearheading initiatives to redefine

Dogecoin Daily Active Addresses Surge By Over 30%

August 18, 2024 1 min read

The number of daily active addresses for Dogecoin (DOGE) has surpassed 55,400, suggesting a substantial rise in the utilization of the blockchain. This statistic is frequently associated with changes in price, making it a possible indication of price movement. The price of DOGE has been increasing since Friday, rebounding from a three-day decrease. Currently, as of writing, the value of DOGE has increased by 3.33% in the past 24 hours

Dubai Court affirms the legality of crypto payments for salaries

August 17, 2024 1 min read

The Dubai Court of First Instance has confirmed the validity of using cryptocurrency for salary payments as stated in employment contracts, indicating a notable change in the UAE’s judicial stance towards digital currencies. The verdict, delivered in case number 1739 of 2024 (Labour), pertained to a dispute in which an employee alleged non-payment of salary, unjustified termination, and other employment-related entitlements. The plaintiff’s contract stipulated a monthly remuneration in traditional

Bitcoin (BTC) holds above $58K amid BTC options expiration

August 16, 2024 1 min read

On August 15th, Bitcoin witnessed a marginal rebound above $56,000 amidst significant price fluctuations caused by the expiration of a substantial number of options contracts. Traders are eagerly observing whether the important support level will hold, as the impending expiration could lead to substantial volatility. With a total value of more than $1.4 billion, the Bitcoin options are scheduled to expire at 8:00 a.m. UTC. The result of this expiration

Layer-1 blockchain Sui (SUI) surges by over 150% over the past week

August 13, 2024 1 min read

Layer 1 blockchain Sui has experienced a substantial surge in value in the last week, surpassing the majority of the top 100 alternative cryptocurrencies. Sui’s price surged from $0.45 to $1.12 on August 5th, resulting in a 150% increase within a week. In May, Sui released 1.04 billion SUI tokens, representing 10.4% of the maximum supply and 39% of the market capitalization at that moment. Regular unlocks are planned weekly

Tornado Cash Developer Alexey Pertsev is raising funds for his legal defense in the Netherlands

August 12, 2024 1 min read

Open-source software may soon be illegal, as Tornado Cash developer Alexey Pertsev is soliciting money for his legal defense in the Netherlands. Through a video appeal on X, Pertsev is attempting to raise the sum of $750,000 to $1 million in order to pay for his legal representation. Supporters of the campaign are asked to send Ethereum using Juicebox, a decentralized platform for fundraising. The team supporting Pertsev makes sure

Senator Cynthia Lummis proposes a bill to adopt Bitcoin as a U.S. strategic reserve

August 5, 2024 2 mins read

Cryptocurrency fan Senator Cynthia Lummis has put forward a bill that would let the US government use Bitcoin as a strategic reserve asset. Along with five years of payments, the bill would require the US Treasury to buy a million Bitcoins, which are worth about $60 billion. In a similar way to the U.S. Strategic Petroleum Reserve, Lummis said that this project could strengthen the U.S. dollar and lower the

The Casper Network resumes operations following a temporary halt due to a security breach

August 2, 2024 1 min read

After a security breach, the Casper Network is back up and running. On July 31, 2024, all 64 validators, who together hold 85% of the staked CSPR, agreed that network validation would begin again. The event showed how important it is to be alert and take action in the constantly changing world of blockchain technology. Through an organized and decentralized effort, the network was able to fix the breach by

The Aptos Foundation and OKX Ventures launch a $10 million fund to support blockchain projects

August 1, 2024 1 min read

The Aptos Foundation and OKX Ventures have joined forces to create Ankaa, a $10 million fund that will help projects on the Aptos blockchain that deal with decentralized banking, real-world assets, games, social platforms, and AI. The fund’s goal is to encourage growth and new ideas in the Aptos environment. However, the news has caused a big drop in Aptos’ native token, APT. It has gone from a high of

Shiba Inu reveals ambitious plans for a new layer-3 blockchain and additional tokens

July 29, 2024 1 min read

Shiba Inu (SHIB), the second-largest meme coin, is moving forward with new projects even though the community has had mixed responses and the coin hasn’t been doing as well as other meme coins lately. Lucie, who is in charge of marketing, talked about plans for a layer-3 blockchain and new tokens that will make the ecosystem better. Tokens like SHIB, LEASH, BONE, SHEB, Shiboshis, ShibtheMV, TREAT, and SHI open up

Bitcoin Cash (BCH) rises over 15% in 24 hours to trade above $450

July 29, 2024 1 min read

Bitcoin Cash (BCH) has gone up 14% in the last 24 hours and is now at its best level since the middle of June. This happens as Bitcoin (BTC) gets closer to $70,000 after going up 3% in 24 hours. At the moment, BCH is selling at about $69,503, just a little below its day high of over $69,800. There has been pressure to sell Bitcoin Cash because of possible

Kamala Harris privately referred to Bitcoin as “money for criminals”

July 25, 2024 1 min read

President Joe Biden’s administration’s hostile stance on crypto may be passed on to Kamala Harris, who privately called Bitcoin “money for criminals.” Bitcoin Magazine CEO David Bailey accused Harris of destroying the crypto industry over the past four years and collaborating with Securities and Exchange Commission Chair (SEC) Gary Gensler and Senator Elizabeth Warren to push anti-crypto policies, such as Operation Choke Point. The Biden administration has imprisoned developers and