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

DeFi platform Raft suffered a hack that led to a loss of around $3.3 million in Ethereum (ETH)

This DeFi platform loses about $3.3 million in Ethereum (ETH) to hackers

6 months ago 1 min read

DeFi platform Raft suffered a hack that led to a loss of around $3.3 million in Ethereum (ETH). However, the hacker may have ultimately incurred a loss during the attack. A hacker stole 1,577 ETH from Raft but then sent 1,570 ETH to a burn address. This effectively destroyed most of the stolen funds, leaving the attacker with just $7. Prior to the hack, the hacker’s wallet received 18 ETH through a cryptocurrency mixer called Tornado Cash. After the transactions and blockchain fees, the hacker’s wallet ended up with only 14 ETH, resulting in a net loss of 4 ETH

U.S. Senator Advocates Legislation for Protecting Cryptocurrency Owners

Senator Introduces Bill to Preserve Rights of Crypto Owners

6 months ago 1 min read

Senator Ted Budd has introduced the “Keep Your Coins Act,” a proposed bill aiming to secure freedom in the use of cryptocurrencies for Americans. This new bill is focused on preventing federal agencies from imposing restrictions on how individuals can utilize cryptocurrencies for personal transactions. The bill specifically protects the rights of “covered users,” referring to individuals who use cryptocurrencies to purchase goods or services for their personal use, regardless of the source of the cryptocurrency. Furthermore, it aims to preserve the use of non-custodial wallets, which allow users to have full control over their cryptocurrency, free from federal restrictions.

Chainlink Surges Beyond $12.50, Achieving Milestones in Wallet Holdings

Chainlink LINK Surges to Over $12.50, Hitting a New Yearly High

6 months ago 1 min read

Chainlink, the decentralized oracle network, has experienced a notable surge in its price, surpassing the $12.50 mark over the weekend. This price level is significant as it marks the first time Chainlink has reached this threshold since April 2022. Simultaneously, the number of wallets holding a minimum of 1,000 LINK tokens, currently valued at $12,150 or more, has reached a new all-time high, totaling 27,152 wallets. Data from Glassnode also highlights a positive correlation between the LINK price uptrend and the growth in the number of addresses holding non-zero balances. This trend reflects an increasing adoption of the Chainlink network

This Ethereum whale withdrew 8,968 ETH on November 4th

Ethereum Whale Moves Millions in ETH from Binance Exchange

6 months ago 1 min read

It appears that a major Ethereum (ETH) whale has been on the move, shifting a substantial amount of ETH away from the Binance exchange. As per data uncovered by Lookonchain, this Ethereum whale withdrew 8,968 ETH on November 4th, followed by another withdrawal of 8,618 ETH on November 5th. In just two days, the total amount withdrawn added up to a significant 17,316 ETH. To put this into perspective, at the time of this report, the total value of this whale’s withdrawal from the exchange hovered around $32 million. Note that during this period, the supply decreased from over 10.7

PayPal Gains UK Regulatory Support for Cryptocurrency Services

UK Authorities Grant Approval to PayPal for Crypto Offerings

6 months ago 1 min read

PayPal has received the green light from the U.K. Financial Conduct Authority (FCA) to offer cryptocurrency services. This approval allows PayPal UK Limited to engage in some cryptocurrency-related activities, complying with regulations aimed at preventing illegal financial activities. The FCA has set certain rules for PayPal’s cryptocurrency services. Currently, they are not allowed to onboard new customers, and existing customers can only buy and sell crypto. Additionally, PayPal cannot introduce new types of crypto services, including crypto exchanges, launching new coins, or providing crypto-based lending. Despite these limitations, PayPal can now freely share its cryptocurrency-related updates and announcements. This comes

This release will see 9.54 million AVAX tokens become accessible

Avalanche (AVAX) to unlock $110 Million token in November

6 months ago 1 min read

Avalanche (AVAX), the Layer 1 blockchain project, is preparing for a significant token unlock scheduled for November 24. This release will see 9.54 million AVAX tokens become accessible, with a total value of around $109.64 million. These tokens represent 2.69% of Avalanche’s circulating supply. The upcoming token unlock will have four primary beneficiaries: This token unlock is a significant event for the Avalanche ecosystem and its stakeholders, as it provides access to a substantial amount of AVAX tokens for various purposes, including further development, partnerships, and rewarding airdrop participants.

Guy Gotslak, the co-founder and president of My Digital Money, has a bold prediction for Ethereum (ETH). He believes that Ethereum will reach $10,000 faster than most people anticipate.

This Expert Believes Ethereum Will Reach $10K Faster Than People Think

6 months ago 1 min read

Guy Gotslak, the co-founder and president of My Digital Money, has a bold prediction for Ethereum (ETH). He believes that Ethereum will reach $10,000 faster than most people anticipate. Gotslak is confident that Ethereum has all the necessary fundamentals to make this significant growth happen. Despite Ethereum recently gaining 21% in a crypto market rally, it fell short of the $2,000 mark. Many attribute this rally to Bitcoin’s movement, but Gotslak disagrees. He thinks that Ethereum’s price action is independent of Bitcoin and, in fact, believes that Ethereum’s price has been down due to the overall performance of the entire

Sam Bankman-Fried

Filing Hints at Sam Bankman-Fried’s Testimony on Legal Role and Good Faith Efforts

6 months ago 1 min read

Sam Bankman-Fried, the founder of FTX, may testify in his defense to provide insight into various aspects of FTX’s operations, according to court filings. His defense team is seeking permission to ask him about his knowledge of lawyers’ involvement in FTX’s decision-making processes and industry practices, his intentions regarding FTX’s funds as the company faced financial difficulties, and his knowledge of FTX and Alameda’s financials. The defense filing specifically seeks to explore FTX’s use of auto-deletion policies for Signal and Slack messages, the establishment of North Dimension and its associated bank accounts, loans made from FTX and Alameda Research to

FTX-Related Addresses Move $10 Million in Crypto Assets to Coinbase and Binance

FTX Exchange Transfers $10M in Crypto to Coinbase and Binance

6 months ago 1 min read

Today, more than $10 million worth of assets linked to the defunct crypto exchange FTX have been moved to Coinbase and Binance. According to data from Arkham Intelligence, the assets involved in this transfer amounted to 2,904 Ethereum (about $5.18 million), 1,341 Maker (valued at $2.02 million), 198,000 Chainlink (around $2.26 million), and 12,000 AAVE (around $1.03 million). While it’s not definitively clear if these transfers are linked to FTX’s bankruptcy proceedings, the timing of these transactions has understandably raised some concerns within the crypto community. This concern stems from the recent positive momentum in the broader crypto market. These

LBRY Inc. Announces Closure After Losing Legal Battle with SEC

This blockchain company shuts Down after losing legal battle with the US SEC

7 months ago 1 min read

LBRY Inc., a blockchain publishing platform, has revealed that it is shutting down its operations. Overwhelming debts owed to the U.S. Securities and Exchange Commission (SEC), its legal team, and private creditors. The statement from LBRY Inc. is clear and direct: “LBRY Inc. must die, there is no escaping this.” The company has faced a judgment against it by the federal government and carries debts amounting to several million dollars, leaving them with no other option but to cease their activities. While the company is shutting down, the LBRY blockchain itself will continue to exist. This blockchain, which hosts over

Binance Forges New Partnerships with Euro Banks to Enhance Services

Binance Expands Euro Banking Partnerships with New Agreements

7 months ago 1 min read

Binance crypto exchange has just expanded its Euro payment options. In a recent blog post, the Binance team announced that they’ve signed agreements with new fiat partners to offer a range of Euro-related services. These services include making Euro deposits and withdrawals through the Single Euro Payments Area (SEPA) network, trading Euro pairs, and buying and selling crypto via SEPA, bank cards, and fiat balances. While Binance hasn’t disclosed the names of these new partners, a Binance spokesperson said that they are collaborating with many partners across Europe, including TrueLayer, Nuvei, and several card acquirers. This move comes after Binance’s

Visa Commits $100 Million to Foster Generative AI Innovations

Visa Unveils $100 Million Initiative to Drive Generative AI Development

7 months ago 2 mins read

Visa, the global payment giant, is doubling down on its commitment to artificial intelligence (AI) in the realm of commerce and settlements. They’ve unveiled a fresh initiative, committing a substantial $100 million to fund generative AI ventures. The primary focus of this initiative is to support companies dedicated to advancing generative AI technologies and their applications in the fields of commerce and payments. This investment endeavor will be spearheaded by Visa’s global corporate investment arm, Visa Ventures, which has been a driving force behind fostering innovation in the payments and commerce sectors since 2007. Generative AI stands out as a

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