Author: Mohammed Ali

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Mohammed Ali

Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.

Articles by Mohammed Ali

FTX Raises Concerns Over Genesis' Zero Debt Statement

FTX Disputes Genesis’ Zero Debt Assertion in Latest Challenge

11 months ago 1 min read

Bankrupt crypto exchange FTX has challenged a claim by Genesis that it owes no money to FTX. In a court filing, FTX said it is a major creditor of Genesis and was not invited to a mediation session arranged by the court in May. Genesis allegedly handpicked the participants in the mediation. FTX claims that it is owed $3.9 billion in cash and cryptocurrency from Genesis. The company alleges that Genesis was one of the main feeder funds for FTX and instrumental to its fraudulent business model. Genesis has denied FTX’s claims and has said that it is in good

Cryptocurrencies gained following successful negotiations on raising the U.S. debt ceiling that injected some optimism into markets.

Bitcoin is back above US$27,000 Following U.S. Debt Ceiling Deal

11 months ago 1 min read

Cryptocurrencies gained following successful negotiations on raising the U.S. debt ceiling that injected some optimism into markets. Bitcoin, the world’s largest cryptocurrency, rose 1.08% to US$27,076 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly gains to 2.08%, according to CoinMarketCap data. Ether, the second biggest cryptocurrency in the world, gained 1.78% to US$1,886 in 24 hours, after rising 3.85% in the last seven days. Litecoin was the biggest gainer among the top 10 cryptos, climbing 2.25% to US$94.48 in 24 hours, and strengthening 8.35% on the week. It rose on stronger buying support from its third

GameStop Corporation has partnered with the Telos Foundation to level the barriers preventing the widespread adoption of Web3.

GameStop and Telos Foundation Announce Partnership to Develop Blockchain-Based Games

11 months ago 1 min read

GameStop Corporation, a popular video game and merchandise retailer, has partnered with the Telos Foundation to level the barriers preventing the widespread adoption of Web3. The partnership will see Telos provide blockchain infrastructure to GameStop’s Web3 gaming launchpad, Playr. This will allow GameStop to offer more Web3 games to its customers and attract new users to the platform. Telos is a high-performance blockchain that is well-suited for gaming. It is fast, scalable, and energy-efficient. This makes it a good choice for GameStop, which is looking to provide a smooth and enjoyable gaming experience for its customers. The partnership between GameStop

The community behind the popular memecoin Shiba Inu (SHIB) has burned over 6.3 billion tokens in a week.

Shiba Inu Burns Over 6.3 Billion Tokens in a Week

11 months ago 1 min read

The community behind the popular memecoin Shiba Inu (SHIB) has burned over 6.3 billion tokens in a week. This is a significant amount of tokens, and it shows that the Shiba Inu community is committed to reducing the supply of SHIB tokens. Token burning is the process of permanently removing tokens from circulation. This can be done by sending tokens to a burn address, which is a wallet that cannot be accessed by anyone. When tokens are burned, they are effectively removed from the market, which can help to increase the value of the remaining tokens. There are a number

Hong Kong-based qualified custodian and trust company First Digital

Hong Kong-based First Digital Launches USD Stablecoin Backed by Asian Reserves

11 months ago 1 min read

Hong Kong-based qualified custodian and trust company First Digital has launched a new USD stablecoin, called FDUSD. The stablecoin is backed by 1:1 USD reserves held in segregated accounts at institutions in Asia. FDUSD is designed to provide stability to the crypto market and to make it easier for investors to use crypto to make payments and to invest in other assets. The stablecoin is also programmable, which means that it can be used to execute financial contracts, escrow services, and insurance without intermediaries. First Digital is a well-established financial institution with a strong track record. The company is regulated

Coinbase CEO Brian Armstrong criticized US lawmakers and regulators

Coinbase CEO Brian Armstrong Slams US Crypto Regulation, Says China is Winning

11 months ago 1 min read

Coinbase CEO Brian Armstrong criticized US lawmakers and regulators over their approach to bringing “regulatory clarity” to cryptocurrency in an opinion article published on Tuesday. “By enforcing restrictive policies, the U.S. is inadvertently driving crypto-innovation offshore,” Armstrong wrote. “That shift will compromise America’s legacy of pioneering technological advancements, and weaken our national security posture.” Armstrong’s criticism comes as the US government is still struggling to come up with a comprehensive regulatory framework for cryptocurrency. The Securities and Exchange Commission (SEC) has taken a hands-off approach to regulating cryptocurrency exchanges, while the Commodity Futures Trading Commission (CFTC) has taken a more

Whale Moves $800 Million in BTC

Bitcoin Whale Moves $800 Million in BTC After 10 Months of Dormancy, Could This Be the Start of a Bull Run?

11 months ago 2 mins read

A massive Bitcoin whale has moved a staggering 31,000 BTC that’s, at the time of writing, worth more than $820 million, out of its cold wallets that had been inactive since late 2022 and had received funds from multiple exchanges. According to data unveiled by prominent blockchain intelligence firm Arkham Intelligence, the wallets’ history suggests that they previously received a notable deposit of 21,600 Bitcoins, transferred directly from renowned cryptocurrency exchanges Binance and Huobi in the early fall of 2022. The whale currently holds BTC in two wallets, one with 20,000 BTC in it, and another with 11,200 BTC in

Cardano's DEX Volume Surpasses $68 Million

Cardano DeFi Market Soars, DEX Volume Reaches $66.88 Million

11 months ago 1 min read

Cardano’s decentralized exchange (DEX) volume surged by 91% in the past week, reaching $66.88 million, according to data from DeFiLlama. The surge was driven by a significant uptick in activity on Cardano-based DEX platforms, particularly Minswap, which saw a weekly change of 99.72%. Minswap, the leading DEX on Cardano, accounted for the majority of the platform’s volume, with a 24-hour volume of $6.91 million and a seven-day volume of $60.52 million. This represents a significant 90.4% of the total DEX volume on Cardano. Other DEX platforms on Cardano, such as WingRiders and SundaeSwap, also contributed to the overall volume, albeit

The number of Ethereum whales has been on the rise in recent months

Ethereum Whales Accumulate Over $9 Billion ETH in 2023

11 months ago 1 min read

The number of Ethereum whales has been on the rise in recent months, with these investors accumulating over $9 billion worth of ETH. This trend is likely being driven by a number of factors, including the increasing popularity of Ethereum’s Proof of Stake (PoS) consensus mechanism and the launch of the Shanghai upgrade. Proof of Stake Ethereum is in the process of transitioning from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism. PoW is a more energy-intensive consensus mechanism, while PoS is more energy-efficient. This transition is likely motivating many ETH holders to acquire

Lummis Introduces Bill to Reform Crypto Taxes

Senator Lummis Opposes President Biden’s Crypto Tax Plan

12 months ago 1 min read

The Biden administration has proposed a 30% tax on Bitcoin mining, a move that has been met with backlash from the cryptocurrency community. Critics argue that the tax is unfair and will stifle innovation in the industry. Senator Cynthia Lummis, a Republican from Wyoming who is a vocal supporter of Bitcoin, has said that she will not support the tax. “A 30% tax hike on any specific industry is a blatant attempt by the administration to pick winners and losers,” she tweeted. Other critics of the tax include United States presidential candidate Robert F. Kennedy Jr., who has called it

Robinhood has moved around 8% of the supply of the meme-inspired crypto Dogecoin ($DOGE)

Robinhood Moves 8% of Dogecoin Supply to New Wallet, Fueling Speculation

12 months ago 2 mins read

Popular commission-free trading platform Robinhood has moved around 8% of the supply of the meme-inspired cryptocurrency Dogecoin ($DOGE) to a new mysterious wallet. The development means that the supply of DOGE Robinhood held in its wallets, which was once holding steady at around 24%, has plunged to 16% following considerable transactions involving a new wallet that’s now in the “top 20” as well. According to DOGE whale monitoring service Dogecoin Whale Alert, the wallet’s movements were shared on the microblogging platform Twitter as they were occurring, with several massive transactions moving the funds to the receiving wallet. Whether the new

Binance has temporarily suspended deposits for 10 tokens due to ongoing issues

Binance Suspends Deposits for 10 Tokens Amidst Multichain Outage

12 months ago 1 min read

Binance, a leading cryptocurrency exchange, has temporarily suspended deposits for 10 tokens due to ongoing issues with the Multichain bridge project. The suspension affects users of these bridged tokens on BNB Smart Chain, Fantom, Ethereum and Avalanche blockchain networks. The decision comes after Multichain users have been experiencing delays and outages in processing transactions for several days. Several of Multichain’s cross-chain bridge pathways are still not yet operational. The Multichain project has attributed the problems to technical issues and “force majeure.” However, the lack of clarity from the project has led to concerns among users and investors. In a separate

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