Author: Ava Patel

Article written by Ava Patel

The Trump family could earn $540 million from their DeFi venture

September 8, 2024 1 min read

The Trump family might gain $540 million from World Liberty Financial (WLFI), a decentralized finance (DeFi) project that is slated to launch on the Ethereum or Polygon blockchains. Similar to the renowned DeFi protocol Aave, the initiative aspires to challenge established financial structures while also empowering the average American. WLFI intends to sell 30% of its token supply after attaining a $1.8 billion valuation, potentially earning $540 million for the

Fidelity’s FBTC sees net outflow totaling $149.49 million

September 7, 2024 1 min read

On Thursday, US spot bitcoin exchange-traded funds experienced net withdrawals of $211.15 million, continuing their seven-day trend of negative flows. The FBTC fund managed by Fidelity experienced the highest outflow, amounting to a total of $149.49 million. BITB, a company owned by Bitwise, incurred a net loss of $30 million. The GBTC ETF managed by Grayscale experienced a net outflow of $23.22 million and an additional outflow of $8.45 million.

Polygon begins migrating from MATIC to POL tokens

September 5, 2024 1 min read

Polygon, a Layer-2 solution developed on the Ethereum blockchain, is preparing for a substantial enhancement by transitioning its MATIC token to the new POL token. This action is a component of the Polygon 2.0 plan, which is designed to enhance the usefulness and scalability of the ecosystem. Holders of MATIC on the Polygon Proof of Stake (PoS) chain will experience an automated conversion of their tokens to POL. However, holders

WazirX exchange allows early phased withdrawals amid $230 million hack

September 4, 2024 1 min read

On September 3, WazirX exchange initiated the second stage of its fiat currency withdrawal procedure, which comes after a significant security breach that led to the pilferage of more than $230 million in user assets. The exchange is making efforts to reinstate client fund accessibility and has granted consumers the ability to withdraw up to 66% of the aggregate INR value deposited on the platform. WazirX is currently undergoing a

Bitcoin and ether fall sharply as U.S. stocks post large losses

September 3, 2024 1 min read

Today, there was a significant decline in the value of cryptocurrencies. Bitcoin (BTC) had a 1.5% decrease, reaching $57,800, while Ethereum (ETH) dropped by 3% to $2,442, marking its lowest point since early February. Simultaneously, there was a notable decrease in stock prices, with the Nasdaq experiencing a 2.4% dip and the S&P 500 falling by 1.5%. The August ISM Manufacturing PMI survey indicated a sustained decline, as new orders

Cardano ecosystem’s much-awaited Chang Upgrade went live

September 2, 2024 1 min read

The Cardano ecosystem has launched the Chang Upgrade, a significant update that will transform key aspects of the network. The upgrade, which has been delayed, will bring governance rights for token holders and enable decentralized governance within the network. This will allow token holders to elect governance representatives and vote for future developments. Cardano’s upgrade is an important milestone as it brings token holders onto its own Decentralized Autonomous Organization

Users Panic As Whale Sends 90K ETH to Binance in the Last 24 Hours

September 2, 2024 1 min read

A crypto address presumed to be owned by the ARB Foundation, a non-profit organization that supports those facing depression, has substantially transferred ETH to the Binance crypto exchange, causing apprehension within the crypto community. In the final hours of August, a sum of 60,000 ETH valued at around $150.33 million was transferred to Binance. The current deposit of ETH has raised the total transferred amount to Binance to 90,000 ETH,

Donald Trump aims to make the US the “crypto capital of the planet” if elected

August 30, 2024 1 min read

Donald Trump, the former President, has declared his ambition to establish the United States as the global hub for cryptocurrencies if he is elected. The initiation of this action has generated conjecture, namely concerning the World Liberty Financial effort, led by his offspring, Donald Trump Jr. and Eric Trump. The initiative, boasting a subscriber base of more than 53,000, is thought to encompass tangible assets and the tokenization process. Trump’s

OpenSea CEO Devin Finzer challenges the SEC’s crackdown on NFTs

August 29, 2024 1 min read

OpenSea, the prominent NFT marketplace, has received a Wells notice from the SEC, suggesting that the agency suspects OpenSea of violating federal securities laws by facilitating the sale of NFTs that may qualify as securities. This action has raised worries regarding the possibility of implementing more extensive controls inside the NFT business. Devin Finzer, the co-founder and CEO of OpenSea, openly responded to the SEC’s warning, expressing his surprise and

Kraken exchange must face an SEC lawsuit alleging it operated as an unregistered securities exchange

August 25, 2024 1 min read

Kraken crypto exchange is currently confronted with a legal dispute initiated by the U.S. Securities and Exchange Commission (SEC) on the grounds of purportedly functioning as an unregistered securities exchange. According to the SEC, certain crypto tokens available on Kraken’s platform meet the criteria of “investment contracts,” which means they are required to comply with securities legislation. U.S. District Judge William H. Orrick determined that this claim was “credible” and

Former FTX executive Ryan Salame challenges his conviction, claiming prosecutors broke their deal

August 22, 2024 1 min read

Ryan Salame, a former executive of FTX exchange, is appealing to a US judge to review his conviction, alleging that US prosecutors violated their agreement to cease pursuing his partner, Michelle Bond. Salame contends that this violation of the agreement should exclude any additional charges against Bond, emphasizing the conflicts arising from the plea deal he agreed to. According to his legal team, the government reneged on its promise to

US Republicans criticize Democrats for neglecting cryptocurrency

August 22, 2024 2 mins read

The crypto sector is growing more exasperated with the Democratic Party’s apparent lack of consideration for digital assets and blockchain technology, as evidenced in their most recent party platform. The Republican Party‘s perceived apathy has prompted it to bolster its backing for the burgeoning financial industry, thus widening the gap between the two parties on this matter. During the Democratic National Convention, the party unveiled its 2024 platform, which conspicuously