Author: Emma Davis

Article written by Emma Davis

Despite Bitcoin’s Recent Decline Below $59,000, Market Analysts Remain Confident

August 19, 2024 1 min read

Bitcoin failed to regain its $60,000 price tag on Sunday, despite a day prior, as investors drove broader market indices back to record highs. The world’s largest crypto by market capitalization rose to just above $60,330 on Saturday but has since fallen 1.7% to around $58,646, according to CoinMarketCap data. Despite the indecision in crypto, some analysts and investment trading desks remain optimistic for the remainder of the year. QCP

Nigerian authorities move to freeze $38 million in crypto

August 18, 2024 1 min read

The Federal High Court of Nigeria has placed a freeze on around $38 million out of the total $50 million worth of crypto that was delivered to provide financial backing for the protests over the escalating cost of living in the country. The injunction was issued at the request of the Economic and Financial Crimes Commission (EFCC). National Security Adviser Nuhu Ribadu asserted that the government identified the origin of

Justin Sun, the founder of TRON, introduces SunPump, a new meme coin platform

August 18, 2024 1 min read

Justin Sun, the creator of TRON, has introduced SunPump, a platform specifically built to take advantage of the current trend of meme coins. SunPump was introduced on August 13 via Sun.io, enabling users to swiftly and effortlessly generate meme coins, to take advantage of the current fascination with these digital assets. The platform imposes a 20 TRX cost for creating an account and a 1% fee for each trade. It

Bybit exchange gains 10 million new users in less than 90 days

August 16, 2024 1 min read

Bybit, the world’s second-largest crypto exchange by trading volume, has reached 40 million registered users worldwide, solidifying its position as a preferred platform for millions of crypto enthusiasts and traders. The platform has seen a surge of 10 million new users within 90 days, showcasing its ability to meet the evolving needs of the crypto community by providing a secure, reliable, and user-friendly trading environment. Bybit‘s Co-founder and CEO, Ben

US government sends 10,000 BTC Silk Road BTC worth over $590M to Coinbase Prime

August 15, 2024 1 min read

A Bitcoin address that received a transfer of 10,000 BTC from a wallet owned by the US government two weeks ago has now transferred the full amount to a deposit wallet on Coinbase Prime. The Bitcoin sent represents a portion of the crypto confiscated from the now-defunct illicit online marketplace Silk Road, with a value exceeding $592 million. On April 2, the US government transferred 31,800 BTC to a separate

A crypto wallet containing $2 billion worth of Mt. Gox Bitcoin initiates a trial transaction

August 14, 2024 1 min read

A crypto wallet that received $2 billion of bitcoin from defunct exchange Mt. Gox’s trustee initiated a test transaction on Tuesday, possibly to prepare distributing funds to creditors. Arkham Intelligence analysts believe the wallet likely belongs to the crypto custody platform BitGo, one of the five service providers that distribute tokens to creditors. BitGo is the last remaining distribution partner. The test transaction followed a 33,100 BTC transfer two weeks

DBS Bank, Singapore’s largest bank by assets, initiates a pilot program for “DBS Treasury Tokens”

August 14, 2024 1 min read

DBS Bank, the bank with the highest amount of assets in Singapore, has initiated a trial program for “DBS Treasury Tokens” in collaboration with Ant International. The pilot utilizes DBS’s permissioned blockchain to enhance the administration of treasury and liquidity. The pilot project intends to decrease the time it takes to settle transactions inside a group from days to seconds, hence improving liquidity and the management of working capital. DBS’s

Asian countries are tightening crypto regulations while promoting innovation

August 12, 2024 2 mins read

Asia’s bitcoin industry is experiencing substantial changes as countries enforce more stringent laws while simultaneously promoting innovation. India, Thailand, Japan, Hong Kong, and Indonesia are collaborating to establish a more organized and systematic approach to digital assets. The Directorate General of GST Intelligence (DCGI) in India has issued a demand of $86 million to Binance, alleging non-payment of the necessary Goods and Services Tax. According to reports, Binance generated a

Bitcoin (BTC) Surges Past $61,000 but Faces Crucial Test at $60,500

August 10, 2024 1 min read

Bitcoin (BTC) surpassed the $60,000 mark on August 8th and must now maintain the $60,600 level as support on the daily chart to potentially reach $65,000 again. This analysis comes from a trader named Rekt Capital on X. The upward surge was likely initiated by BTC’s pursuit of a CME gap ranging from $59,400 to $62,550. Bitcoin has returned to its weekly trading range of $57,000 to $67,000 and is

Ripple partners with Dubai’s DIFC Innovation Hub to enhance blockchain

August 8, 2024 2 mins read

Ripple Labs has formed a partnership with the DIFC Innovation Hub, which is a part of the Dubai International Financial Centre (DIFC). The purpose of this partnership is to advance the use of blockchain technology and digital assets in the United Arab Emirates (UAE) and the Middle East, Africa, and South Asia (MEASA) area. The DIFC Innovation Hub is the most extensive innovation ecosystem in the region, accommodating more than

Ripple settles with the SEC, agreeing to a $125 million fine

August 8, 2024 1 min read

Ripple Labs has reached a settlement with the SEC, agreeing to pay a penalty of $125 million for selling its XRP token without proper registration. This resolution concludes a legal conflict in which the SEC previously sought penalties amounting to over $2 billion. The settlement is considered a triumph for Ripple, as allegations of fraud were dropped, resulting in a diminished penalty. The SEC initiated a legal action in 2020,

Bitcoin wallets holding between 1,000 and 10,000 BTC increase their holdings

August 6, 2024 1 min read

The price of Bitcoin (BTC) fell to $49,000 throughout the weekend but recovered to around $56,000, eliciting various responses from holders. Bitcoin whales, who are significant holders of assets, took advantage of the opportunity to buy at reduced rates, while small investors dumped their holdings as panic spread. Crypto wallets containing a quantity of Bitcoin (BTC) ranging from 1,000 to 10,000, with an approximate value of $56 million to $560