Author: Judith Faith

Article written by Judith Faith

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

September 7, 2024 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

Russia’s Bitcoin mining industry reaches $3 billion

September 6, 2024 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

September 5, 2024 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

September 5, 2024 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

September 4, 2024 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

September 3, 2024 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

Vitalik Buterin clarifies ETH sales were for projects and charity, not profit

August 31, 2024 1 min read

Ethereum co-founder Vitalik Buterin has denied selling Ether for personal gain, stating that his transactions were not driven by personal gain but to support Web3 projects and charitable initiatives. He has reduced his ETH holdings by 85K ETH ($209M) in three years, as per on-chain analytics firm Lookonchain. Buterin’s statement aims to emphasize his commitment to using his resources for important causes rather than personal enrichment. He has also addressed

Binance to support the Polygon (MATIC) token swap to Polygon (POL), delisting existing pairs

August 28, 2024 5 mins read

Binance will support the Polygon (MATIC) token swap to Polygon (POL) from 2024-09-10 03:00 (UTC) and will delist all existing MATIC spot trading pairs and cancel all pending MATIC spot trading orders. At 2024-09-13 10:00 (UTC), Binance will open trading for the POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC, and POL/USDT trading pairs. Deposits and withdrawals of MATIC tokens will be suspended at 2024-09-10 03:30 (UTC), and Binance

Shiba Inu (SHIB) plans to launch a decentralized autonomous organization (DAO)

August 26, 2024 1 min read

Shiba Inu, currently ranked as the 13th largest cryptocurrency based on its market capitalization, plans to establish a decentralized autonomous organization (DAO). This would enable token holders to participate in voting for upcoming initiatives and influence the project’s trajectory. The memecoin DAO will be governed by two main councils, namely the “Charity Council” and the “Culture & Heritage Council.” These councils will be responsible for supervising community efforts, including philanthropic

BlackRock’s US Bitcoin ETFs gains $75 million in new inflows on August 22

August 23, 2024 1 min read

US spot Bitcoin exchange-traded funds (ETFs) have achieved a continuous streak of six days with positive returns, attracting nearly $65 million in investments on Thursday. The iShares Bitcoin Trust (IBIT) from BlackRock received the highest amount of fresh capital, totaling $75 million. Other funds, such as WisdomTree’s Bitcoin fund, Grayscale’s Bitcoin Mini Trust, and VanEck’s Bitcoin ETF, garnered more than $12 million. Grayscale’s Bitcoin Trust (GBTC), which has the highest

Ethereum ETFs face record outflows, while Bitcoin ETFs surge with strong inflows

August 23, 2024 1 min read

Ethereum exchange-traded funds (ETFs) have been consistently declining in value, with investors withdrawing their funds over an extended period, resulting in the longest consecutive period of outflows since their introduction. All nine authorized ETFs in the United States have encountered a decrease in assets, with the Grayscale Ethereum Trust (ETHE) being the most impacted, suffering a loss of more than $2.5 billion in outflows as of August 21st. This phenomenon

Binance faces a new lawsuit accusing them of facilitating crypto money laundering

August 22, 2024 1 min read

Binance and its CEO, Changpeng Zhao, are being sued for allegedly facilitating money laundering through its cryptocurrency exchange, resulting in substantial financial losses for three investors. The case, initiated on August 16, 2024, asserts that Binance actively participated in the process of concealing illegally obtained digital assets, so contravening the Racketeer Influenced and Corrupt Organizations Act (RICO). The plaintiffs contend that their cryptocurrency holdings were pilfered and subsequently transferred to