Judith Faith, Author at Optimisus

Bybit exchange to halt operations in Malaysia

December 31, 2024 1 min read

Bybit, a digital asset exchange, has been told by Malaysia’s Securities Commission (SC) to stop its operations in the country because it is accused of operating without proper registration. On December 11, the SC ordered Bybit to shut down all its digital platforms, including its website and mobile apps, within 14 working days. The exchange was told to shut down its Malaysian Telegram support group and stop all ads aimed

Cardano founder Charles Hoskinson urges the Cardano Foundation to adopt a membership-based model

December 29, 2024 1 min read

Charles Hoskinson, the founder of Cardano, has criticized the governance structure of the Cardano Foundation, saying it does not involve the community enough. He supports moving to a membership-based organization (MBO) to improve community involvement and tackle ongoing issues in the ecosystem. Hoskinson believes that the current governance model, which doesn’t include members, reduces community involvement and oversight. This has caused tensions and slowed down the blockchain’s growth. On December

France authorities intensify efforts to curb burgeoning crypto scams

December 29, 2024 1 min read

Cryptocurrency popularity in France has led to more financial scams, causing authorities to take urgent steps to protect consumers. The Paris Public Prosecutor’s Office, along with regulatory bodies like the AMF and ACPR, is very concerned about the increase in scams involving fake crypto investments. Recent reports show that victims of fake savings accounts lost about €69,000, while those impacted by fake loans lost around €19,000. Crypto-asset scams have increased

BGB token hits an all-time high of $7.79 as Bitget merges its tokens BGB and BWB

December 28, 2024 1 min read

Bitget has announced that it will combine its two tokens, Bitget Token (BGB) and Bitget Wallet Token (BWB), into one token. This merger, announced on December 26, seeks to improve the connection between Bitget’s exchange and wallet systems, representing an important step forward in the platform’s capabilities. BGB has reached a record high of $7.79, showing strong growth even when the cryptocurrency market is down. The token’s market cap has

FBI confirms North Korea’s TraderTraitor group stole $308M in Bitcoin from DMM Bitcoin

December 26, 2024 1 min read

The FBI has linked the major DMM Bitcoin hack to North Korea’s TraderTraitor hacking group, thought to be connected to the infamous Lazarus Group. A cyberattack in May led to the theft of 4,502 Bitcoin, worth about $308 million, causing the Japanese crypto exchange to collapse and close down. The attack started with clever social engineering tricks targeting Ginco, a Japanese cryptocurrency wallet provider. Hackers pretended to be recruiters on

XRP trading volume hits over $117 million Binance this December

December 25, 2024 1 min read

In December 2024, XRP became the top alternative cryptocurrency traded on the Binance exchange, with a trading volume exceeding $116.6 million on Binance Futures. This increase in activity is significant, particularly since many cryptocurrencies, like Bitcoin, saw price drops at the same time. XRP’s price dropped to $2.13 on December 23, which is a 25% decrease from its high earlier in the month. XRP stayed a top cryptocurrency, even briefly

Rumors suggest the UAE holds $40 billion in Bitcoin

December 23, 2024 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