Author: Judith Faith

Article written by Judith Faith

Solana’s total value locked surpasses $6 billion in October

October 15, 2024 1 min read

In October, Solana achieved a remarkable milestone, with its total value locked (TVL) exceeding $6.1 billion, the highest it has been since January 2022. This surge indicates a growing trust and engagement among users on the platform. TVL is an important metric in decentralized finance (DeFi) that reflects the total value of assets held in various projects. An increase in TVL typically points to more users investing their assets in

A crypto whale loses $35M in fwDETH on Blast network due to phishing permit attack

October 11, 2024 1 min read

A recent phishing attack on the Blast network resulted in a crypto whale losing around $35 million in Few Wrapped Duo ETH (fwDETH) tokens. The incident was initially reported by Scam Sniffer and later confirmed by security firms PeckShield and BlockSec. The victim inadvertently signed a fraudulent “permit” signature, which allowed the attacker to access and drain funds from their wallet. fwDETH is a wrapped version of Duo ETH (DETH),

South Korea Virtual Asset Committee to discuss the approval of crypto ETFs

October 11, 2024 1 min read

On October 10, South Korea‘s Financial Services Commission (FSC) announced the formation of a Virtual Asset Committee aimed at overseeing the approval of spot crypto exchange-traded funds (ETFs) in the country. This committee, led by FSC Vice Chairman Soyoung Kim, will include representatives from various government sectors and nine members from the private sector, providing guidance on critical issues in the digital asset landscape, including the authorization of corporate accounts.

Binance held a cybersecurity seminar for Mexican law enforcement

October 9, 2024 1 min read

In a significant move to bolster cybersecurity and combat financial crime, Binance recently hosted a training seminar in Mexico City for around 35 law enforcement officials from various agencies. The seminar, which focused on the intersection of virtual assets and crime, is part of Binance’s broader initiative to collaborate with law enforcement globally. Felipe de Jesús Gallo Gutiérrez, head of Mexico’s Criminal Investigation Agency, underscored the necessity for public servants

Truflation Launches Real-Time AI Index

October 8, 2024 3 mins read

Truflation, a leading provider of real-time financial data, is excited to announce the launch of the AI Index designed to track AI company performance and the Real World Assets (RWAs) driving generative AI. The introduction comes at a pivotal moment as the global generative AI market, currently valued at $44.89 billion (Statista). Currently, the generative AI market is projected to grow into a $1.3 trillion market by 2032 (Bloomberg Intelligence),

Bitwise’s XRP ETF Faces Roadblocks: SEC Appeal and Political Landscape

October 5, 2024 1 min read

Bitwise recently filed for an XRP ETF, sparking discussions among industry experts about how the upcoming US election might impact its approval. The SEC’s ongoing appeal against Ripple Labs adds uncertainty, potentially delaying the ETF’s fate. Bitwise’s filing, along with another from Canary Capital, highlights a growing interest in direct crypto asset funds, although regulatory clarity remains a challenge. XRP, valued at $33 billion, is seen as a key player

FTX creditors to recover just 10-25% of their funds as the restructuring plan faces legal hurdles

October 1, 2024 2 mins read

As the FTX saga continues to unfold, creditors of the beleaguered cryptocurrency exchange are holding their breath, hoping for restitution following the platform’s dramatic collapse in November 2022. Recent insights from creditor activist Sunil Kavuri suggest that affected parties might expect to recover between 10% to 25% of their holdings. This estimation comes as stakeholders grapple with the ongoing restructuring process and the impending court hearing scheduled for October 7,

The SEC reveals that nearly all of TrueUSD’s reserves were invested in a risky offshore fund

September 26, 2024 1 min read

The U.S. Securities and Exchange Commission (SEC) has determined that TrueCoin LLC and TrustToken Inc., the developers of the TrueUSD (TUSD) stablecoin, allocated nearly all of their reserves to a high-risk offshore fund. The companies inaccurately asserted that TUSD was entirely backed by U.S. dollars, deceiving investors on the security of their capital. Between November 2020 and April 2023, they marketed TUSD via its TrueFi lending platform, promoting it as

The SEC postpones its decision on options trading for several Ethereum ETFs

September 25, 2024 1 min read

The U.S. Securities and Exchange Commission (SEC) has deferred its judgment regarding options trading for several spot Ethereum ETFs until November 2024. The postponement ensues after the SEC sanctioned options trading for BlackRock’s spot Bitcoin ETF, accompanied by stringent rules to mitigate market manipulation. The SEC has extended the deadlines for these funds to November 10 and 11, 2024, in accordance with Section 19(b)(2) of the Securities Exchange Act. In

AAVE price reaches highs of $173 on Monday, its highest level since April 2022

September 23, 2024 1 min read

Aave (AAVE), a distributed finance technology, has seen its native currency’s price surge to levels not seen since April 2022. The spike to above $173 marks the highest price level since April 2022. AAVE experienced a steep decline after reaching an all-time high above $670 in May 2021. AAVE has since experienced a major accumulation phase that lasted nearly two and a half years. This rebound is occurring at a

The Ethereum Foundation sells a total of 950 ETH worth over $2.2 million in the past three weeks

September 21, 2024 1 min read

The Ethereum Foundation has sold 300 ETH worth over $760,000, a 5% increase from intraday lows of $2,440. The foundation has been selling Ether every four to seven days, with a total of 950 ETH sold since September, totaling over $2.2 million. The foundation has previously sold 1,000 ETH for over $3 million in May 2024, with year-to-date totals reaching 1,766 ETH sold for over $4.8 million. The latest dump

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

September 17, 2024 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