Author: Ujunwa Juliet Ihiasota

Article written by Ujunwa Juliet Ihiasota

Ark Invest dumps 400 units each of two ETFs that track Ethereum futures

August 11, 2024 1 min read

Ark Invest, under the leadership of Cathie Wood, divested a substantial chunk of their Ethereum futures ETFs on August 9, which may have resulted in a decrease in investor confidence. The corporation sold 400 units of ProShares Ethereum Strategy ETF (EETH) and Ark Active Ethereum Futures Strategy ETF (ARKZ), resulting in a trade of $21,112 for EETH and a sell of $12,056 for ARKZ. Ark Invest’s strategic decision indicates a

Binance records $1.2 billion in net inflows in 24 hours, demonstrating strong investor confidence

August 7, 2024 1 min read

Binance exchange achieved a remarkable $1.2 billion in net inflows within a 24-hour period, even in the face of worldwide market instability. The occurrence demonstrates the robust trust and belief of investors in Binance, a company that possesses assets over $100 billion. Although offshore exchanges experienced significant selling pressure, US crypto platforms demonstrated robust trading volumes for Bitcoin. Binance experienced an infusion of funds as traders and investors liquidated their

India seeks over $80 million from Binance exchange for unpaid taxes

August 6, 2024 2 mins read

The Directorate General of GST Intelligence (DGGI) in India has demanded a sum of $86 million in taxes from Binance, a prominent crypto exchange. India’s tax authorities have targeted a large crypto business for the first time, establishing a regulatory precedent in the country. The Directorate General of Goods and Services Tax Intelligence (DGGI) has requested a payment of INR 722 crore, which is equivalent to nearly $86 million, for

Mt. Gox is close to finishing its Bitcoin repayment plan after transferring $2 billion in BTC

August 4, 2024 1 min read

After completing a large Bitcoin move worth over $2 billion, Mt. Gox, a former Japanese Bitcoin exchange, is almost done with its repayment plan. As part of Mt. Gox’s plan to give back recovered Bitcoin to people who were touched by the 2014 hack, hundreds of thousands of BTC worth about $450 million were stolen. Mt. Gox has recovered about 141,686 BTC since the hack, but recent big transfers have

Global crypto trading volume is estimated to exceed $108 trillion in 2024

August 1, 2024 1 min read

A Coinwire study says that the amount of crypto traded will be more than $108 trillion in 2024, which is 90% more than in 2022. The US has more than $2 trillion, making it the leader. Since 2023, the amount of crypto traded has grown by 42%, and the market has grown by 89% in the last three years. When it comes to crypto dealing, Europe is the leader, with

Casper Network halts the network after discovering a significant security breach

July 29, 2024 1 min read

Casper Network has suspended its network operations in response to a security incident, as declared by the smart contracts blockchain platform. The platform collaborated with validators to minimize the potential consequences of the compromise and suspended operations until the vulnerability was fixed. The team said on X: Casper Association, Casper Labs, and the Validators/community are actively working to resolve the issue. The network has been halted and the security breach

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