Author: Judith Faith

Article written by Judith Faith

Gemini crypto exchange settles a nearly two-year-old $36 million crypto theft lawsuit

July 22, 2024 1 min read

The Gemini crypto exchange has reached a settlement with IRA Financial Trust regarding the misappropriation of $36 million from its crypto fund. The controversy commenced in February 2022 and revolved around Gemini’s purportedly deceptive security assertions. IRA Financial Trust said that Gemini neglected to adequately convey the significance of safeguarding the master key, resulting in the occurrence of the theft. Gemini’s habit of transmitting unsecured and unencrypted emails using the

Mark Cuban says geopolitical instability could boost Bitcoin (BTC)

July 18, 2024 4 mins read

Mark Cuban, an entrepreneur, suggested that Bitcoin might potentially become a worldwide reserve asset due to geopolitical instability and increasing inflationary pressures. He emphasized other elements that could impact the trajectory of Bitcoin and its acceptability in the wider financial scene. Cuban highlighted an increasing endorsement of former President Donald Trump among Silicon Valley, implying that this development may indicate a deliberate “Bitcoin strategy” by the Big Tech industry. The

BlackRock is now the largest public holder of Bitcoin with holdings surpassing 316,000 BTC

July 15, 2024 1 min read

The largest asset manager in the world, BlackRock, has announced a great performance in the second quarter, with assets under management (AUM) growing to an astounding $10.6 trillion according to the company’s report. As compared to the previous year, this is an almost 13% jump. In addition, earnings per share (EPS) increased over this period, going from $9.06 to $9.99, while revenue increased by 8% to reach $4.8 billion. Exchange-traded

Nearly $100 billion in illicit crypto flows since 2019 target stablecoins and centralized exchanges

July 12, 2024 1 min read

According to a study by Bloomberg, over $100 billion of illegal cash have been transferred via the cryptocurrency market since 2019, causing substantial effects on stablecoins and controlled exchanges. Stablecoins are being utilized more frequently by criminals, and they currently account for the majority of illegal transactions inside the cryptocurrency realm. More than 50% of these illegal money are ultimately deposited into controlled exchanges like as Binance and Coinbase. Kim

An EtherFi whale dumps ETHFI tokens worth over $1.8 million

July 12, 2024 1 min read

EtherFi (ETHFI), a Ethereum-related token, experienced significant price drops in the last 24 hours after a wallet dumped 880 tokens worth $1.87 million onto the Binance platform. The wallet, identified as “0x57C,” had previously received 10 million EtherFi tokens from the Etherfi team three months ago. The wallet now holds 8.82 million EtherFi tokens, worth around $18.43 million. EtherFi showed a 6% daily decline in price, with a high of

Biaoqing Memecoin Hits New Heights In The Crypto Market

July 8, 2024 1 min read

Biaoqing, a new memecoin launched just two weeks ago, has experienced significant growth in the crypto market, reaching new all-time highs. The coin’s success can be attributed to its unique narrative, inspired by the popular Asian meme Biaoqing, which features a panda with a human face. Biaoqing aims to replicate the success of Western memecoins like Doge and Pepe by adapting this viral meme into the crypto space. The team

Despite market crash, retail investors’ support helps keep ONDO’s price stable

July 5, 2024 1 min read

ONDO crypto is currently holding just above the $1.08 support level, having tested this point three times in the last two weeks. Whales have been selling off large amounts of ONDO, with over $141 million worth sold in a single day. However, retail investors are helping to stabilize the price by holding onto their tokens. Retail investors, focused on holding (HODLing) rather than selling, have increased their mid-term holdings, with

PEPE’s price dropped 7.5% as a major whale sold 1.4 trillion tokens for Ethereum

July 1, 2024 2 mins read

The price of PEPE coin had a substantial decline on Saturday, eliminating a portion of its previous gains. The price plummeted to $0.00001088, indicating a significant decrease of 7.5% during a 24-hour period. This decrease is a component of a more extensive collapse in the market, but the involvement of large investors, known as whales, has exacerbated the situation. An entity with a significant amount of PEPE tokens, commonly referred

US spot Bitcoin ETFs see a rebound with $31 million in net inflows after seven days of outflows

June 26, 2024 1 min read

The US bitcoin exchange-traded funds (ETFs) saw a notable reversal on Tuesday, with $31 million in net inflows. This marked a departure from the previous trend of seven consecutive days of withdrawals from the 11 monitored funds. Fidelity’s FBTC demonstrated robust investor confidence by leading the way with $49 million in net inflows. BITB, a cryptocurrency managed by Bitwise, experienced an influx of $15 million, while HODL, a cryptocurrency managed

The Nigerian SEC launches a 30-day program to accelerate VASP registration

June 22, 2024 1 min read

The Nigerian Securities and Exchange Commission (SEC) has introduced a new initiative to expedite the registration process for Virtual Asset Service Providers (VASP) to improve the regulatory framework for the crypto market. The SEC raised VASP registration fees from 30 million naira ($20,161) to 150 million naira ($100,806) in March, aiming to enhance financial stability among VASPs. The Accelerated Regulatory Incubation Program (ARIP) was introduced on June 21, providing a

Ethereum surgs 6.19% to $3,583 after the SEC closed its investigation into ETH

June 19, 2024 1 min read

Ethereum (ETH) witnessed a modest rebound in the worldwide crypto markets today, as its value surged by 6% to beyond $3,500. This increase came after the U.S. Securities and Exchange Commission (SEC) concluded its investigation into the sale of ETH. Consensys Software, an Ethereum developer, has announced that the SEC’s Enforcement Division will not be taking legal action over the selling of ETH as securities transactions. Despite a substantial surge

Tether (USDT) to launch a Gold-backed stablecoin with overcollateralized reserves

June 17, 2024 1 min read

Tether, the most valuable stablecoin in terms of market capitalization, is introducing a new digital asset that will be referred to as aUSDT. This asset will be backed by over-collateralized Tether Gold (XAUT). The Alloy by Tether service includes a new category of tethered assets, and this is the first product that comes from that offering. Using stabilization measures such as over-collateralization with liquid assets and liquidity pools in secondary