Author: Judith Faith

Article written by Judith Faith

Solana’s stablecoin transactions reach over $300 Billion

January 22, 2024 1 min read

Solana has achieved a milestone in stablecoin transactions, surpassing an unprecedented $300 billion in one month. This surge in transaction volume is the highest ever recorded on the Layer-1 blockchain, demonstrating the platform’s growing prominence in facilitating stablecoin transactions. In January, Solana experienced a significant increase in stablecoin transfers, surpassing the previous month’s figures. December saw $297 billion in stablecoin transfers, representing a significant month-over-month increase. When comparing current statistics

US CFTC Takes Legal Action Against Debiex in $2.3 Million Romance Scam

January 22, 2024 1 min read

The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against crypto exchange Debiex, accusing the platform of orchestrating a $2.3 million fraud scheme disguised as a romance plot. The legal action began on January 19 in Arizona. According to the lawsuit, Debiex marketed itself as a crypto exchange for US citizens. However, the CFTC claims that the exchange participated in a deceptive scheme to steal funds from Asian

Binance Burns Over 2 Million BNB Tokens Valued At $636 Million

January 18, 2024 1 min read

Binance crypto exchange announced the successful completion of the 26th quarterly Binance Coin (BNB) token burn via the BNB Chain. The burn event, which included the auto-burn process and the Pioneer Burn Program, resulted in a significant reduction in the native token’s circulating supply. During the most recent burn event, the Auto-Burn process, which is designed to run independently of Binance’s centralized exchange (CEX), removed a significant 2,141,487.27 BNB from

Binance assures users of their funds’ safety after its app is removed from India’s Play Store and App Store

January 15, 2024 1 min read

Both Google’s Play Store and Apple’s App Store in India have recently removed applications from prominent crypto exchanges such as Binance and OKX. The removal follows the Indian government’s cautionary advisory regarding crypto-related activities. The Financial Intelligence Unit of India issued a directive to several crypto exchanges, specifically Binance and OKX, on December 28, 2023, urging them to register and adhere to financial regulations. If the exchanges continued to operate

Ethereum Rallies on Ether ETF Anticipation Amid Bitcoin ETF Expectations

January 10, 2024 1 min read

In a dramatic shift in the crypto market, Ether and Ethereum-based tokens saw a significant increase in value, fueled by traders’ anticipation of a potential Ether ETF following the expected approval of a Bitcoin ETF in the US. While the price of Ether surpassed $2,400, Bitcoin suffered a temporary setback as a result of deceptive tweets from the hacked SEC’s X account. A prominent financial institution, BlackRock, has filed an

This whale withdraws 450,000 LDO tokens worth around $1.5 million

January 8, 2024 1 min read

With its impressive price increase, the DeFi token Lido DAO (LDO) recently made waves in the crypto space. According to CoinMarketCap data, LDO reached a new 52-week high of $3.60 on January 6, representing a remarkable increase of more than 15%. The crypto community was drawn to a notable event when a whale trader known as 0xfc9 executed a significant move on Coinbase. This trader swapped Render for Lido DAO

The Internet Computer (ICP) surges by over 180% in the past four weeks

January 4, 2024 1 min read

The Internet Computer (ICP) has taken the crypto market by storm, with a four-week surge that has catapulted its value to an impressive high of $16.30. This surge has been spectacular, with a parabolic trajectory displaying decisive breakouts from key resistance levels, indicating a significant shift in market dynamics. The break from a long horizontal resistance zone that had persisted since April 2022 has been the most notable feature of

Orbit Chain suffers a major breach, losing $81.68 million in crypto

January 2, 2024 1 min read

Orbit Chain, a cross-chain bridge, suffered a significant security breach on December 31, resulting in losses totaling around $81.68 million across various crypto. The breach has raised concerns about the blockchain industry’s security landscape in 2023, and investigations are currently underway by cybersecurity firm Theori, with international law enforcement agencies involved. Orbit Chain, which was founded in South Korea in 2018, acts as a cross-chain bridge for asset transfers between

Grayscale aims for early Bitcoin ETF approval by the SEC and adapts to a cash-only model

December 28, 2023 1 min read

Grayscale has made a significant step forward by submitting a new request to the Securities and Exchange Commission (SEC) to convert its Bitcoin Trust (GBTC) into a Bitcoin Exchange-Traded Fund (ETF). This strategic shift aligns with Grayscale’s goal of obtaining early approval for its Bitcoin ETF, with the SEC expected to make a critical decision by January 10, 2024. Grayscale’s recent filing is notable for its willingness to embrace a

Hong Kong Sets the Stage for Fiat-Referenced Stablecoin Regulation, Invites Public Input Until February 29, 2024

December 27, 2023 1 min read

Hong Kong has made an important step forward by revealing plans to regulate fiat-referenced stablecoins (FRS), a type of digital currency that is pegged to fiat currencies. The announcement was made on December 27 by the Financial Services and Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA). The regulatory bodies have invited public input on this proposal until February 29, 2024, and are accepting opinions and insights. According

NEAR Protocol (NEAR) Is Up 80% In The Last 24 Hours

December 26, 2023 1 min read

Amid a bearish crypto market, NEAR Protocol (NEAR) has emerged as a notable exception, demonstrating remarkable resilience and defying the prevailing downtrend. Its trajectory has been one of consistent upward momentum, a trend that began in mid-December and has since gained strength. Unlike general market sentiment, which has been characterized by a downturn, NEAR has not only weathered the storm but has also risen impressively. The crypto’s value has increased

Arbitrum (ARB) Surges By Over 20%, Hitting 8-Month High

December 24, 2023 1 min read

Arbitrum, Ethereum’s layer-2 network, soared to an eight-month high of $1.4567. The surge amounted to an impressive 20% increase in the last 24 hours, accompanied by a significant 315% increase in trading volume. This surge increased Arbitrum’s market capitalization by an astounding 15%. During this market frenzy, significant strategic moves were revealed. Spotonchain data revealed that a whale identified as 0x0db withdrew 2.91 million ARB, worth $3.53 million, from OKX