Author: Ujunwa Juliet Ihiasota

Article written by Ujunwa Juliet Ihiasota

Revolut secures UK banking license with restrictions, entering the ‘mobilization’ stage for new banks

July 26, 2024 1 min read

Revolut has obtained a banking license in the United Kingdom, which is a major achievement for the fintech company. The Prudential Regulation Authority (PRA) has awarded a license to Revolut, but it comes with some conditions. This puts Revolut in a phase called “mobilization” or ‘Authorisation with Restrictions’, which is a regular procedure for new banks in the UK. UK consumers can continue using their e-money accounts without any interruptions,

Decentralized exchange dYdX v3 compromised by a DNS attack

July 23, 2024 1 min read

dYdX, a decentralized exchange, experienced a substantial security compromise related to its v3 protocol. A hacker infiltrated the authorized website of dYdX v3 by implanting token-draining software, which has the potential to divert customers’ cash. The hijacked website exhibited error messages resembling prior phishing scams, with the intention of deceiving customers into divulging their wallet information. The exchange posted a cautionary message on social media, recommending users refrain from accessing

Shiba Inu team addresses the WazirX hack, where trillions of SHIB were stolen

July 19, 2024 1 min read

The Shiba Inu cryptocurrency, which is based on the concept of dogs, has been subjected to a substantial security breach at WazirX, a crypto exchange in India. The hackers illicitly acquired trillions of SHIB tokens, leading to significant financial damages. Lucie, the marketing director of Shiba Inu, sent her sympathies to those impacted by the cyber attack, which led to the theft of millions of dollars. The incidence of crypto

US Senator Cynthia Lummis renews her call for Bitcoin to be a US reserve asset

July 14, 2024 1 min read

US Senator Cynthia Lummis, a strong advocate of crypto, has urged the US government to embrace Bitcoin as a reserve asset. She holds the belief that incorporating Bitcoin into the nation’s financial reserves might greatly augment the worth of the US dollar and bolster its stability and influence. Lummis, who represents Wyoming, has been a notable proponent of Bitcoin, advocating for its broader integration into the US financial system. Lummis’s

Metaplanet buys 42.47 more BTC amid market volatility, as Bitcoin shows signs of recovery

July 10, 2024 1 min read

Bitcoin’s recent price movement has been influenced by several macroeconomic and market-specific factors, including significant sell-offs and institutional activities. The market remains jittery due to low demand for US-based spot Bitcoin ETFs, raising overall fear. However, on-chain data indicates that smart money has been buying Bitcoin despite the heightened fear. Bitcoin continues to have a macro bullish outlook, supported by the recent fourth halving event and the approval of spot

Coinbase secures a $32 million contract with the DOJ to manage seized crypto

July 2, 2024 1 min read

The US Department of Justice’s asset forfeiture section, known as the US Marshal Service, has selected Coinbase as its custodian for digital assets with high market capitalization. Coinbase Prime will provide custody and enhanced trading services for its “Class 1” digital assets to assist federal law enforcement. The government requires dependable storage and liquidation methods to effectively handle and dispose of significant volumes of widely-used cryptocurrencies, referred to as Class

Ordinal Hive and Merlin Chain partners to create the first Ordinal trading protocol

June 26, 2024 1 min read

A renowned Bitcoin platform known as Ordinal Hive has formed a partnership with Merlin Chain in order to facilitate the development of the first Ordinal trading protocol that is tailored exclusively for professional traders. Because it combines high transaction speeds, low fees, and innovative features that are suited to high-frequency and high-volume Ordinal traders, this agreement represents a significant step forward in the trading of assets based on Bitcoin. Ordinal

This First White-label Crypto Cashback Provider Expands Funding To $1.1 Million

June 20, 2024 2 mins read

Bring web3, a participant in the crypto industry, has declared the successful augmentation of its funds to further the development of its platform and enhance its growing network of key partners. Bring, a pioneering white-label crypto cashback provider, has successfully concluded a 1.1 million dollar SAFE round, further cementing its dedication to innovation and its goal of transforming the crypto cashback ecosystem. Bring’s cutting-edge platform offers cashback rewards for purchases

Polkadot (DOT) approves a $65 million fund for developing the JAM architecture

June 18, 2024 1 min read

Polkadot has allocated a $65 million fund for the development of the Join-Accumulate Machine (JAM) architecture, with the goal of enhancing blockchain scalability and flexibility. The fund, comprising a reward pool of 10 million DOT tokens, aims to improve data management and network interoperability inside the DOT network. JAM tackles performance challenges arising from sharding, a process that decreases coherency and poses difficulties in constructing metasystems across particular chains. The

XRP whales buy over 27 million XRP from crypto exchange Binance

June 16, 2024 1 min read

An affluent XRP investor has acquired a substantial amount of 27.74 million XRP from Binance, suggesting a possible increase in price. The whale’s extensive resources and long-term market perspective are the reasons behind this assertive purchasing behavior, which is commonly interpreted as a bullish indication. According to a recent technical study, XRP is expected to have a 20% price surge by July 15th, which offers optimism to investors aiming to

A whale moves over 240 million XRP, valued at around $127 million

May 24, 2024 1 min read

A recent bank audit revealed a $127 million whale transaction involving over 240 million XRP. Whale Alert, a blockchain monitoring service, said that Coincheck, a major Japanese cryptocurrency exchange, transferred the transaction to an unknown wallet. Blockchain data show the transaction occurred at 07:13 UTC today. Incredibly, the identical recipient wallet was engaged in another large transfer days before. On Monday, Crypto Basic revealed that Coincheck sent 250,000,000 coins worth

The SEC’s decision this week on spot Ethereum ETFs will significantly impact the crypto market

May 20, 2024 2 mins read

This week, the SEC will decide whether to allow or reject spot Ethereum ETFs. This move has drawn attention from prominent investing companies. The SEC’s VanEck application deadline is May 23, followed by Cathie Wood’s ARK Invest and 21Shares proposals the following day. BlackRock, Fidelity, Bitwise, Galaxy Digital, Franklin Templeton, and Hashdex are also interested in launching a spot Ethereum ETF. Most industry analysts expect the SEC to reject these