Author: Judith Faith

Article written by Judith Faith

Rumors suggest the UAE holds $40 billion in Bitcoin

15 hours ago 1 min read

There are recent rumors that the United Arab Emirates (UAE) might have more than $40 billion in Bitcoin, which could make it one of the biggest holders of crypto in the world. A tweet from Changpeng Zhao, the former CEO of Binance, started this speculation. He mentioned an unverified report that says the UAE has gathered about 411,978 BTC. This news has sparked both excitement and doubt in the crypto

The SEC approves the first-ever Bitcoin and Ethereum ETFs

December 22, 2024 1 min read

The U.S. Securities and Exchange Commission (SEC) has approved the first dual Bitcoin and Ethereum Exchange-Traded Funds (ETFs) from Hashdex and Franklin Templeton. This approval is an important step for institutional investors, giving them simpler access to the top two cryptocurrencies with spot-based investment options. The Franklin Templeton Crypto Index ETF and the Hashdex Nasdaq Crypto Index US ETF have both been approved by regulators. Franklin Templeton’s application was processed

Kraken’s Ink blockchain launches early on mainnet

December 20, 2024 1 min read

Kraken exchange has launched its new Layer-2 blockchain, Ink, on the mainnet earlier than expected, thanks to strong community support and developer excitement. Originally set for a 2025 release, Ink is coming out early due to high demand shown by millions of testnet transactions and many connected wallets. Ink is built on the Optimism Superchain and focuses on decentralization and interoperability. Stage 1 of decentralization is planned to start in

Bitcoin ETFs in the US surpass gold ETFs in assets

December 19, 2024 2 mins read

Bitcoin spot exchange-traded funds (ETFs) in the United States have now more assets than gold ETFs, showing a big change in what investors prefer. This change comes just a year after Bitcoin ETFs were launched in January 2024, showing that Bitcoin is becoming a popular choice compared to traditional assets like gold, which has been the top option for more than twenty years. Bitcoin spot ETFs have connected the world

Deutsche Bank unveils a cutting-edge Layer-2 blockchain to tackle compliance challenges

December 18, 2024 1 min read

Deutsche Bank has launched a new Layer-2 blockchain solution called Project Dama 2, designed to address compliance challenges linked to public blockchains in traditional finance. This project is part of the Monetary Authority of Singapore’s (MAS) Project Guardian. It brings together major financial institutions to look into using blockchain technology for asset tokenization. Project Dama 2 improves current public blockchains like Ethereum by prioritizing cost efficiency, security, and following regulations.

Ohio state’s lawmaker announces plans to initiate a Bitcoin Reserve

December 18, 2024 1 min read

With the holiday season coming, the cryptocurrency community is preparing for fun events, like giveaways and talks about what crypto will look like in 2025. Ohio state representative Derek Merrin has introduced HB 703, a bill to create a Bitcoin Reserve for the state. This proposed law, called the “Ohio Bitcoin Reserve Act,” aims to let the state invest in Bitcoin, helping Ohio improve its financial situation. Merrin’s bill would

EU MP Sarah Knafo urges Europe to embrace Bitcoin and reject the digital euro

December 18, 2024 1 min read

In a passionate speech at the European Parliament, MEP Sarah Knafo voiced her strong disagreement with the European Central Bank’s (ECB) plans for a digital euro, promoting Bitcoin as a better option for Europe. Knafo encouraged European countries to follow El Salvador’s example of adopting Bitcoin as legal tender three years ago, saying that accumulating Bitcoin reserves could strengthen economies in difficult times. Knafo pointed out some benefits of Bitcoin,

Ukraine plans to legalize cryptocurrencies by 2025

December 15, 2024 1 min read

Ukraine plans to legalize cryptocurrencies by early 2025, aiming to create clear rules and taxes without special tax breaks. The new law wants to control digital assets to keep finances stable and reduce risks like tax evasion and money laundering. The draft law, created with feedback from the National Bank of Ukraine (NBU) and the International Monetary Fund (IMF), will tax profits from cryptocurrency when they are converted into fiat

A hacker stole $15.9M from Coinbase Commerce, bypassing AML detection

December 13, 2024 1 min read

A major breach has happened with Coinbase Commerce. A hacker named “Excite” stole $15.9 million by taking advantage of the platform’s Anti-Money Laundering (AML) system. A crypto investigator named ZachXBT uncovered an incident involving more than 1,700 questionable USDC transactions. The stolen money was then cleaned through the Polygon and Ethereum networks. A hacker has been showing off expensive buys online, and social media metadata hints at a possible location

South Korea’s brief martial law declaration plunges stocks and sparks a $34.2B crypto trading surge

December 8, 2024 1 min read

Last Tuesday, South Korea went through a major political change when President Yoon Suk Yeol briefly declared martial law, which surprised many people in the country. The declaration was quickly taken back, but it caused a lot of uncertainty that negatively impacted the stock and cryptocurrency markets. The Kospi index dropped by 2%. Major companies like Samsung and LG Energy Solution saw declines of 1% and 2.8%, respectively. The government

Coinbase’s Base network rejects token launch

December 2, 2024 1 min read

Coinbase’s Ethereum Layer-2 network, Base, has officially stated it will not launch its own token, despite speculation following its rapid growth. Instead, the network is prioritizing developer support and addressing real-world blockchain challenges. Jesse Pollak, Base’s lead developer, reiterated the network’s focus on building tools for innovation in decentralized applications (dApps). “There are no plans for a Base network token. We are focused on building and solving real problems,” Pollak stated

FTX intensifies its recovery efforts with 20 new lawsuits

November 12, 2024 1 min read

FTX is ramping up its legal battle by filing over 20 new lawsuits to recover assets lost to political donations, fraudulent investments, and market manipulation. These lawsuits target a range of individuals and companies, including notable figures like former White House Communications Director Anthony Scaramucci and the creators of the video game Storybook Brawl. Since its bankruptcy filing in November 2022, FTX’s administrators have launched a total of 51 legal