Author: Ujunwa Juliet Ihiasota

Article written by Ujunwa Juliet Ihiasota

Bitcoin Drops Below $40,000 Level as Bears Continue Domination

January 23, 2024 1 min read

According to recent data from Crypto Quant, as of January 19th, issuers of spot Bitcoin ETFs collectively held over 638,000 bitcoins, equivalent to an estimated $28 billion in fiat currency. Grayscale Bitcoin Trust (GBTC) is the top Bitcoin ETF issuer, with 566,973 BTC. Following closely behind is BlackRock’s iShares spot ETF, which trades under the ticker symbol IBIT and holds 28,662 BTC. In an unexpected move, Grayscale Investments, the company

Whale moves over 443.1 million XRP, worth $254.8 million, sparking community speculation

January 17, 2024 1 min read

XRP has once again taken center stage with a significant transfer of 443.1 million XRP, worth $254.8 million at the current price of $0.573 per XRP. This transaction, which occurred just over an hour ago, has piqued the interest of the crypto community, resulting in widespread speculation. This latest transfer follows a much larger transaction on Sunday that involved nearly $15 billion in XRP, or approximately 25.6 billion tokens. This

BlackRock targets rich baby boomers with simple and clear Bitcoin ETF ads

January 16, 2024 1 min read

BlackRock is making waves in the rapidly expanding market for Bitcoin Exchange-Traded Funds (ETFs) with its understated and straightforward advertising strategy. The company recently launched the iShares Bitcoin Trust ETF (IBIT) and chose a unique approach that stands out among its competitors’ flashy and complex campaigns. Unlike the typical high-energy and visually intricate Bitcoin advertisements, BlackRock’s promotional video is calm and straightforward. A BlackRock executive explains Bitcoin and the newly

X (Twitter) Deactivates NFT Profile Images Feature for Users

January 11, 2024 1 min read

In an unexpected move, Twitter, dubbed the “X” of the online world, has disabled support for non-fungible tokens (NFTs) in its premium membership section. Premium subscribers initially had the unique ability to showcase their NFT holdings through personalized profile pictures, adorned with a distinct hexadecimal profile photo. Users could seamlessly feature an NFT as their profile image after establishing a temporary link to their cryptocurrency wallets. When finished, the digital

Binance US names Lesley O’Neill as Chief Compliance Officer amid increased SEC attention

January 9, 2024 1 min read

Binance US is taking proactive steps to strengthen its compliance efforts in the face of increased scrutiny from regulatory bodies such as the SEC. Binance US has appointed Lesley O’Neill as Chief Compliance Officer in response to increased scrutiny and an evolving regulatory landscape. O’Neill’s role will be critical in managing legal affairs and improving the crypto exchange’s overall compliance framework. O’Neill brings a wealth of experience to her new

The crypto market witnesses over $135 million in liquidated short positions yesterday

January 3, 2024 1 min read

Recent optimism about the potential approval of U.S.-based spot bitcoin ETFs has fueled a surge in bitcoin’s price, which briefly surpassed $45,500 in the last 24 hours. Significant liquidations occurred in the market, particularly in short positions, totaling over $135 million across various centralized exchanges. Over $82 million in Bitcoin positions were liquidated on centralized exchanges, with around $74 million being short positions. In the crypto market, liquidations occur when

Over $190 million worth of XRP dumped in December by Ripple

December 27, 2023 1 min read

Ripple, a major crypto player and XRP holder, has been actively liquidating its monthly unlocked reserves. The company’s recent sell-offs have piqued investors’ interest, with over $192.2 million in XRP already dumped in December alone. In this article, we will go over Ripple’s liquidation strategy and its potential implications for the XRP market. Ripple had already sold 240 million XRP worth $148.8 million as of December 21. This was 40

Nifty Island Launches $ISLAND Token for Public Access to Social Metaverse Game

December 22, 2023 1 min read

Nifty Island, Nyft Studio’s open social metaverse game platform, has announced plans to launch its native token, $ISLAND. This scarce digital commodity aims to turn Nifty Island into a public good that can be accessed by communities all over the internet. The token distribution event is set to begin on January 17, 2024. In contrast to traditional methods such as minting or pre-sale, $ISLAND tokens will be distributed via a

$1 billion frozen from 3AC founders by the court

December 21, 2023 1 min read

A British Virgin Islands court has frozen over $1 billion in assets belonging to the founders of Three Arrows Capital (3AC), a prominent crypto hedge fund. Teneo, the company in charge of overseeing 3AC’s closure, has confirmed this move. According to Teneo, the founders, Su Zhu, Kyle Davies, and Davies’ wife, Kelly Chen, are now unable to access or transfer their substantial assets. This action comes amid 3AC’s financial difficulties,

Binance and Zhao Hit with $2.7 Billion Fine in CFTC Money Laundering Case

December 19, 2023 1 min read

In a CFTC money laundering case, Binance and its former CEO, ChangPeng Zhao, were fined $2.7 billion. The court’s decision also introduces a new CEO, Richard Teng, and raises the prospect of Zhao facing prison time. The settlement between the CFTC and Binance was approved by the United States District Court for the Northern District of Illinois. Binance was ordered to pay $2.7 billion in fines, with Zhao personally liable

Insomniac Games Faces Cyberattack: Ransom Demands Over $2 Million in Bitcoin

December 13, 2023 1 min read

Insomniac Games, the renowned studio behind titles like Spider-Man 2 and the Ratchet & Clank series, has reportedly fallen victim to a cyberattack orchestrated by the Rhysida hacker group, demanding a ransom of 50 Bitcoin, equivalent to over $2 million, CyberDaily revealed. Sony, the parent company of Insomniac Games, is actively investigating the security breach. According to reports, the hackers, part of the Rhysida group, claim to have accessed sensitive

The crypto market gains over $40 million in a week, with Bitcoin leading

December 12, 2023 1 min read

The past week saw the continuation of positive investment trends in the ever-changing landscape of digital assets, with a total inflow of $43 million. This sustained 11-week trend, while demonstrating resilience, represents a slight decrease from previous weeks. Notably, the market saw a shift toward short positions, indicating investor apprehension in the face of rising prices and potential market uncertainties. Bitcoin continues to be a dominant force, attracting $20 million