Article written by Judith Faith

Sui Network (SUI) increases by over 43% in a month following USDC integration

Sui Network (SUI) increases by over 43% in a month following USDC integration

1 min read

The SUI token of Sui Network has experienced a 6.5% price increase in the last 24 hours, exceeding memecoin PEPE and Monero in critical metrics such as market capitalization, trading activity, and volume-to-market cap ratio. The daily trading volume of the cryptocurrency rose by more than 15%, reaching $561 million. The price increase results from a notable event concerning Circle, the entity responsible for USD Coin (USDC), which is set

Binance alerts users to the rising threat of Clipper malware

Binance alerts users to the rising threat of Clipper malware

1 min read

Binance has issued a worldwide alert over an escalating threat to cryptocurrency users, especially those using Android devices, posed by “Clipper malware.” This malware captures wallet addresses during transactions and diverts cash to accounts managed by hackers. Since August 27, 2024, the exchange has experienced a notable rise in instances related to Clipper malware, primarily affecting Android users. iOS users are vulnerable, as Clipper malware can disseminate via unapproved applications

A UK court officially recognizes Tether's USDT as property

A UK court officially recognizes Tether’s USDT as property

1 min read

The High Court of Justice in England has classified Tether’s stablecoin, USDT, as property, representing a crucial development for both institutional and retail investors. Crypto pundit GS posits that this verdict may facilitate increased adoption of USDT by establishing a clearer regulatory framework, thus diminishing regulatory ambiguity and enhancing its attractiveness to investors pursuing stability and legitimacy in their crypto assets. It may establish a global precedent for other nations,

US Spot Bitcoin ETFs See Over $39 Million Net Inflows This Week

US Spot Bitcoin ETFs See Over $39 Million Net Inflows This Week

1 min read

Spot bitcoin exchange-traded funds in the United States saw daily net inflows of $39.02 million on Thursday, following negative flows the day before. Ark & 21Shares’ ARKB saw the greatest net inflows, with $18.34 million entering the fund. Fidelity’s FBTC received $11.47 million, with Grayscale’s Bitcoin Mini Trust receiving $5.18 million. VanEck’s fund received $4.95 million, Franklin Templeton’s bitcoin fund received $3.38 million, and Bitwise’s BITB saw positive flows of

Indonesian crypto exchange Indodax has incurred substantial financial losses up to $15 million due to a recent cyberattack

Indodax exchange loses $15 million in crypto to hackers

1 min read

Indonesian crypto exchange Indodax has incurred substantial financial losses up to $15 million due to a recent cyberattack. The site encountered a substantial capital outflow, amounting to around $15.7 million, distributed across other blockchain networks, such as Ethereum, Polygon, and Optimism. The misappropriated assets are currently stored in designated addresses throughout various networks, with Ethereum possessing approximately 5,204.3 ETH, Polygon holding 6,843,716.17 POL, and Optimism containing over 380 ETH. SpotonChain

Five US states, including Texas, have reached a settlement with the operators of a purported $1 billion fake crypto operation. The case pertained to tokenized investments, encompassing fractional ownership of a skyscraper. The Texas State Securities Board disclosed particulars of the settlement concerning Josip Heit and his firm, GSB Group. The offerings were crypto-backed real estate ownership, metaverse investments, and a token allegedly associated with gold awards. The fraud impacted "hundreds of thousands" of investors in the U.S. and Canada. Investors will obtain complete refunds, excluding any withdrawals they may have executed. The settlement seeks to provide restitution to all impacted clients, including those who invested in GSB's diverse products, including as crypto, educational programs, and tokenized assets. The settlement procedure is anticipated to commence shortly, with authorities from Texas, Alabama, Arizona, Arkansas, and Georgia collaborating on the case. The principal objective is to contact as many impacted investors as feasible and assist in the restitution of their capital.

Five US states reach a settlement in a $1 billion crypto fraud case

1 min read

Five US states, including Texas, have reached a settlement with the operators of a purported $1 billion fake crypto operation. The case pertained to tokenized investments, encompassing fractional ownership of a skyscraper. The Texas State Securities Board disclosed particulars of the settlement concerning Josip Heit and his firm, GSB Group. The offerings were crypto-backed real estate ownership, metaverse investments, and a token allegedly associated with gold awards. The fraud impacted

According to CoinGlass data, the crypto market encountered a significant price fluctuation that resulted in the liquidation of over $50 million worth of leveraged derivatives contracts across all crypto within one hour. Following the release of the US jobs report on Friday, the rise swiftly reversed, causing Bitcoin (BTC), the biggest crypto, to reach its lowest point in a month. This means BTC dropped below $54k. The sudden price fluctuation took leveraged traders by surprise, particularly those who had placed bets on a continuous price increase. The difference of over $3,000 between the highest and lowest points of the day was the largest since August 28th. The Nasdaq Composite Index declined by 2.5% and the S&P 500 Index dropped by 1.6% during their early trading sessions. The US nonfarm payrolls report revealed that the greatest economy in the world gained 142,000 jobs in August, somewhat below what analysts had predicted. Additionally, the unemployment rate decreased from 4.3% in July to 4.2%. Market analysts are evaluating the Federal Reserve's anticipated plan to decrease interest rates, which is projected to occur later this month. Some analysts think that a reduction of a lesser magnitude would be more advantageous for assets with risk exposure, as a 50 basis points decrease could indicate that the Federal Reserve is growing more apprehensive about the possibility of the US economy entering a recession.

Bitcoin (BTC) Dumps Below $54K as Jobs Report Spurs Crypto Volatility

1 min read

According to CoinGlass data, the crypto market encountered a significant price fluctuation that resulted in the liquidation of over $50 million worth of leveraged derivatives contracts across all crypto within one hour. Following the release of the US jobs report on Friday, the rise swiftly reversed, causing Bitcoin (BTC), the biggest crypto, to reach its lowest point in a month. This means BTC dropped below $54k. The sudden price fluctuation

The cryptocurrency mining sector in Russia has experienced substantial growth, producing a total of 54,000 Bitcoins

Russia’s Bitcoin mining industry reaches $3 billion

2 mins read

The cryptocurrency mining sector in Russia has experienced substantial growth, producing a total of 54,000 Bitcoins in the current year, with an estimated worth of almost $3 billion. The expansion of mining in Russia can be ascribed to several factors, including the availability of inexpensive electricity and the country’s expansive territory and frigid temperature, which lower the expenses associated with cooling mining equipment. The overwhelming majority of Russian miners, accounting

Bitcoin dips below $56K due to major institutional sell-offs and market pressure

Bitcoin dips below $56K due to major institutional sell-offs and market pressure

1 min read

Bitcoin (BTC) has experienced a decline below $56,000, representing a decrease of more than 6% within a week. This drop can be attributed to various factors, such as institutional selling, the selling pressure from short-term holders who are dealing with unrealized losses, and continuous selling in the spot market. Fidelity, Grayscale, Ark Invest, and Ceffu, which are institutional investors, have exerted substantial influence in driving down the price of Bitcoin.

Two CFTC Commissioners question the $175,000 Uniswap settlement

Two CFTC Commissioners question the $175,000 Uniswap settlement

1 min read

The US Commodity Futures Trading Commission (CFTC) has reached an agreement with Uniswap, a decentralized trading platform, to settle allegations. As part of the settlement, Uniswap is obligated to pay $175,000. Nevertheless, two CFTC Commissioners have voiced apprehensions over the case, contending that it exemplifies “regulation by enforcement” rather than a just regulatory procedure. Uniswap faced allegations of engaging in unlawful practices by providing leveraged or margined retail commodity trades

Justin Sun’s SunPump burns $8.24 million worth of SUN tokens

Justin Sun’s SunPump burns $8.24 million worth of SUN tokens

1 min read

Justin Sun, the founder of Tron, has made an announcement stating that SunPump has intentionally destroyed more than $8 million worth of SUN tokens from its available quantity. Furthermore, a further $4 million worth of tokens is scheduled to be destroyed in the near future. Within the past 24 hours, a total of 28,999,138.3071 SUN tokens, worth $819K, have been destroyed. There are still 10.97 million tokens left to be

Japanese investment firm Metaplanet announces a partnership with SBI VC Trade

Japanese investment firm Metaplanet announces a partnership with SBI VC Trade

1 min read

Metaplanet has formed a collaboration with SBI VC Trade to bolster its Bitcoin strategy, encompassing the areas of trading, custody, and management of Metaplanet’s Bitcoin holdings. The partnership is in line with Metaplanet’s goal of becoming a prominent contemporary financial services company and enhances its corporate strategy by providing more flexibility. The primary aspect of the cooperation is the availability of a corporate custody service that adheres to regulations and

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