Author: Mahamat Ashraf

Article written by Mahamat Ashraf

FTX exchange settles $600M Robinhood shares dispute with Emergent for $14M

September 11, 2024 1 min read

The insolvent cryptocurrency exchange FTX has finalized a deal with Emergent Fidelity Technologies concerning roughly $600 million in Robinhood shares. The agreement, revealed in a filing by FTX CEO John Ray III in a Delaware Bankruptcy Court, included FTX disbursing $14 million to address administrative expenses related to Emergent’s retraction of its claim to the contested shares. The agreement seeks to optimize value for creditors while reducing litigation expenses. Emergent

India’s Financial Intelligence Unit is set to approve two new offshore crypto exchanges

September 7, 2024 1 min read

The Financial Intelligence Unit (FIU-India) of India is expected to approve two further offshore cryptocurrency exchanges to recommence their activities by the conclusion of the fiscal year 2025, after a comprehensive evaluation of their adherence to anti-money laundering (AML) legislation. The FIU is presently evaluating four fresh requests from four exchanges that were previously prohibited due to their failure to comply with India’s rigorous AML requirements. The agency stressed the

Arthur Hayes predicts Bitcoin (BTC) could fall below $50K amid market turmoil

September 6, 2024 1 min read

The price of Bitcoin has experienced a substantial decrease, declining from $57,000 on September 5 to $55,711.26, resulting in a severe downturn in market mood. The Crypto Dread & Greed Index has reentered the “extreme fear” zone, registering a score of 22, which is a notable decrease from the score of 29 recorded the previous day. Arthur Hayes, one of the co-founders, forecasts a continued decrease in the price of

Elon Musk teases the possible return of Dogecoin as a payment option for Tesla merchandise

September 3, 2024 1 min read

Elon Musk, the Chief Executive Officer (CEO) of Tesla, has suggested that Dogecoin (DOGE) may be reintroduced as a payment option for Tesla items. This comes after Tesla successfully defended against a lawsuit that accused them of manipulating the price of Dogecoin. Musk’s recent remarks have incited conjecture among the crypto community on the potential reintroduction of DOGE as a payment alternative on Tesla’s platform. In January 2022, Tesla formerly

TON Blockchain experiences a major outage, halting block production for over seven hours

August 28, 2024 1 min read

The Telegram Open Network (TON) encountered a substantial interruption, resulting in the cessation of block production for a duration exceeding seven hours. This occurrence has sparked apprehension regarding TON’s capacity to manage heavy traffic and uphold stability. The disruption commenced at approximately 22:11 UTC and is particularly worrisome due to the ongoing nature of blockchains, resulting in transaction delays and heightened security vulnerabilities. The primary reason for the downtime seems

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