Author: Mayowa Adenle

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Mayowa Adenle

I am a crypto analyst. I am responsible for analyzing and predicting trends, pricing, demand, and trading volumes of any number of cryptocurrencies currently available.

Articles by Mayowa Adenle

Avalanche blockchain to support Alibaba Cloud’s infrastructure services in Asia

2 days ago 1 min read

Alibaba Cloud, a subsidiary of Chinese e-commerce giant Alibaba, has announced a cooperation with Avalanche blockchain to support the company’s Node-as-a-Service activities. Avalanche and Alibaba Cloud will collaborate to develop tools that will allow users to construct validator nodes on Avalanche’s public blockchain platform in Asia. The connection will allow Avalanche developers to use Alibaba Cloud’s plug-and-play infrastructure as a service to launch new validators. Developers who anticipate significant resource demands during peak hours can also take advantage of Alibaba Cloud’s computing, storage, and distribution services. According to the announcement, Avalanche hosts over 1,200 validators and processes over 2 million

Sam Bankman-Fried, former CEO of FTX, denies “improper use” of customer funds

4 days ago 2 mins read

On December 1, former FTX CEO Sam Bankman-Fried ‘SBF’ and George Stephanopoulos appeared on Good Morning America. SBF insisted during the interview that FTX was not a “Ponzi scheme,” but rather “a real business.” The former CEO also denied any knowledge of FTX customer deposits being used to pay Alameda Research’s creditors, as Alameda’s CEO Caroline Ellison allegedly claimed. He claimed he was unaware of “any improper use of customer funds.” Bankman-Fried also admitted to not putting any time or effort into risk management on FTX. He revealed, “There is something maybe even deeply wrong there, which was, I wasn’t

Brazil legalizes Bitcoin and Ethereum payments

5 days ago 1 min read

Brazil’s lower house of Congress has finally passed the long-awaited crypto bill, which legalizes cryptocurrency payments and allows banks to begin offering services in the sector. The Bill, which primarily seeks to regulate the country’s cryptocurrency sector, will now be presented to President Jair Bolsonaro for approval before his term expires on December 31. If passed, the law will require all cryptocurrency exchanges and other cryptocurrency custodians to obtain licenses. Notably, the regulation defines digital assets and their service providers and includes provisions to combat fraud and money laundering. Active cryptocurrency service providers will also be required to open a

SBF, Former FTX CEO believes FTT token is still “more legitimate” than most tokens

5 days ago 2 mins read

Citizen journalist Tiffany Fong published Sam Bankman-Fried’s first interview since FTX’s bankruptcy on YouTube on November 29. On November 16, the former CEO addressed a number of allegations leveled against him since the bankruptcy, as well as the state of FTX US clients. He also discussed FTT, the exchange’s native token, which he believes has more intrinsic value than most other cryptocurrencies. Wong started by questioning SBF about previous claims that the CEO tampered with the FTX’s financial records by using a “backdoor” that allowed him to execute commands without alerting others. Reuters repeated this claim several times in the

FTX and Alameda owe BlockFi $1 billion, the bankruptcy court rules

6 days ago 2 mins read

The crypto lender has $355 million stuck on FTX, and the exchange’s sister company Alameda Research has defaulted on a $680 million loan, according to the first day hearing of its bankruptcy proceedings. BlockFi filed 15 motions on November 28 that were approved by the court in the first day hearing on November 29. It includes the redaction of personal information for its 50 largest creditors and the appointment of Kroll Restructuring Administration as its claims and noticing agent — the same firm chosen by FTX for its chapter 11 bankruptcy case. BlockFi stated in an email to concerned clients

BlockFi declares bankruptcy following the demise of FTX

7 days ago 2 mins read

Following the demise of FTX, BlockFi has officially declared bankruptcy, following several days of speculation about the company’s financial health and liquidity issues. BlockFi and eight of its affiliates filed for Chapter 11 bankruptcy protection on November 28. According to a BlockFi press release, the company has $256.9 million in cash on hand, which will be enough to support certain operations during the restructuring process. BlockFi has over 100,000 creditors, with assets and liabilities ranging from $1 billion to $10 billion. Ankura Trust Company, LLC, is among the major creditors named in the petition. According to the petition, the company’s

An Australian fintech firm launches a stablecoin called AUDE

1 week ago 1 min read

According to a statement, Australian blockchain fintech startup Ettle Pty Ltd. has completed the first transaction on its recently launched Australian dollar-pegged stablecoin, AUDE. The AUDE transaction was completed between business clients for software development services on Ethereum, Algorand, and soon other Ethereum Virtual Machine compatible blockchains. In the first quarter of 2023, Ettle plans to make the stablecoin available to businesses seeking exposure to a digital Australian dollar. Stablecoins are cryptocurrencies whose value is tied to an underlying asset, most commonly the US dollar, but in the case of AUDE, the Australian dollar. They can settle on-chain rather than

Bybit exchange launches $100 million institutional support fund

2 weeks ago 1 min read

The last two weeks have seen a complete shakeup in the cryptocurrency industry as a result of the FTX crisis. Since they were presented with financial and/or operational difficulties, both traders and organizations have suffered greatly. Bybit, a well-known cryptocurrency exchange, said it recognizes and empathizes with these challenges. Bybits claims to have worked hard to offer products, opportunities, and next-level dependability as part of its goal of becoming the world’s “Crypto Ark.” Bybit recently announced the establishment of its $100 million support fund, which will be used to help institutional traders weather the storm. This announcement was made with

The World Economic Forum invites Shiba Inu to participate in metaverse discussions

2 weeks ago 1 min read

Shiba Inu is invited to participate in discussions about the metaverse by the World Economic Forum. The Shiba Inu community had been eagerly anticipating Shibarium, the platform’s metaverse initiative. Despite receiving Shiba Eternity, they were forced to wait for what seemed like an eternity before they could begin their metaverse project. But Shiba Inu’s involvement in another metaverse project was just made known to the community. Lead developer Shytoshi Kusama of Shiba Inu tweeted on November 23 that the World Economic Forum had asked Shiba to work on a number of policies. Shytoshi clarified that the project had been given

Crypto-related cybercrime will not slow down in 2023, but will shift away from Bitcoin as a payment method: Kaspersky

2 weeks ago 1 min read

According to the cybersecurity firm Kaspersky, crypto-related cybercrime will not slow down in 2023, but it will shift away from Bitcoin as a payment method. Bitcoin (BTC) is expected to become a less appealing payment option for cybercriminals as regulations and tracking technologies improve, limiting their ability to move funds safely. In a November 22 report, cybersecurity firm Kaspersky stated that ransomware negotiations and payments would rely less on Bitcoin as a means of transferring value as increased digital asset regulations and tracking technologies force cybercriminals to shift away from Bitcoin and toward other methods. In addition, Kaspersky noted that

The Netherlands Public Prosecutor arrests a citizen for allegedly laundering money with bitcoin

2 weeks ago 1 min read

A man was arrested in the Netherlands for allegedly laundering money with bitcoin (BTC). Prosecutors claim there were links to dark web trading. According to a statement from the Fiscal Information and Investigation Service, the 42-year-old man from the municipality of Midden-Groningen was arrested on November 16. The investigation was launched after the man used several Bitcoin ATMs. An investigation revealed that the man had been making large volumes of bitcoin trades through exchanges for a long time and possessed far more bitcoin than he could have purchased with his current income. The English version of the document published states,

Google Chrome extension ViperSoftX steals clipboard contents and crypto passwords

2 weeks ago 1 min read

According to recent reports, a Google Chrome browser extension called ‘VenomSoftX’ is stealing cryptocurrencies as well as sensitive information such as passwords. Windows malware used VenomSoftX to steal clipboard contents while users browsed the web. The ViperSoftX Windows malware is said to have installed this Chrome extension. The malware performed the functions of a JavaScript-based RAT (remote access trojan) and crypto hijacker. Furthermore, the report revealed that Avast Threat Labs has detected and successfully terminated approximately 93,000 ViperSoftX infection attempts occurring with users from the United States, Italy, India, and Brazil since the beginning of 2022. Avast examined the wallet