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 Accuses LayerZero of Unauthorized Withdrawals, Initiates Legal Action

FTX Sues LayerZero for Alleged Unauthorized Fund Withdrawals

8 months ago 2 mins read

Cryptocurrency exchange FTX has initiated legal proceedings against LayerZero Labs, a cross-chain protocol, in an attempt to recover $21 million in funds that FTX claims were illicitly withdrawn prior to its closure in November. The dispute revolves around a series of transactions conducted between Alameda Ventures and LayerZero earlier in the year. Alameda Ventures, the venture capital arm of Alameda Research and a sister company to FTX, engaged in transactions with LayerZero from January to May 2022. https://x.com/PrimordialAA/status/1701049609953464433?s=20 These transactions included payments exceeding $70 million to acquire a 4.92% stake in LayerZero. Additionally, Alameda Ventures paid $25 million for 100

Binance.US exchange has revealed that it will remove OMG Network (OMG) from its platform on September 12

Binance US to Remove OMG Network (OMG) Token from Platform

8 months ago 1 min read

Binance.US, the US arm of Binance, the global cryptocurrency exchange, has revealed that it will remove OMG Network (OMG) from its platform on September 12, 2023. This decision came after Binance.US conducted a review of all digital assets listed on its platform. They considered several factors like the token’s risk, regulatory status, developer activity, network stability, community involvement, and ethical behavior. Binance.US concluded that OMG no longer meets its standards and decided to delist it to ensure a healthy crypto ecosystem. As a result, the price of OMG experienced a sudden drop. OMG holders on Binance.US can deposit their tokens

JP Morgan analysts have made a prediction that the U.S. SEC could be compelled to approve several spot Bitcoin Exchange-Traded Funds (ETFs).

JP Morgan Believes the SEC Will Be Forced to Approve Bitcoin ETFs

9 months ago 2 mins read

JP Morgan analysts, led by Nikolaos Panigirtzoglou, have made a prediction that the U.S. Securities and Exchange Commission (SEC) could be compelled to approve several spot Bitcoin Exchange-Traded Funds (ETFs). This forecast follows Grayscale’s recent legal victory against the SEC. Last week, a federal court mandated the SEC to reevaluate its prior rejection of Grayscale’s request to convert its BTC Trust (GBTC) into a spot ETF. The court’s decision was based on the SEC’s “arbitrary and capricious” approach, where it failed to clarify its differing treatment of futures-based ETFs and spot-based Bitcoin ETFs. The court emphasized that the SEC’s rejection

Bitcoin Whale Swiftly Transfers Over $134 Million in BTC

Mysterious Bitcoin Whale Moves $134 Million Worth of BTC

9 months ago 1 min read

A major Bitcoin player, often referred to as a “whale,” has made a notable move involving the leading digital currency. In a recent maneuver, this influential entity conducted a substantial transaction involving a staggering 5,140 BTC, amounting to a value of approximately $134 million. This large sum of Bitcoin was transferred from the cryptocurrency exchange Bybit, which is centered in Dubai, to an undisclosed wallet. This substantial transfer becomes even more intriguing when placed in context with insights from Santiment, a crypto analytics firm. Their research highlights that Bitcoin reserves held on exchanges have reached their lowest levels in six

Shiba Inu (SHIB) token experienced a significant burn rate increase of more than 300% within a mere 24 hours.

Burn Rate of Shiba Inu Skyrockets by Over 300% Within One Day

9 months ago 1 min read

In a dynamic twist, the Shiba Inu (SHIB) token experienced a significant burn rate increase of more than 300% within a mere 24 hours. According to data provided by the SHIB burn tracker Shibburn, around 342,020,540 SHIB tokens were burned during this period, reflecting a notable surge in the meme coin’s burn activity. This rise in burn rate comes alongside a compelling pattern in community engagement. Over the past week, roughly 1,872,812,412 SHIB tokens were burned, representing a 56.5% reduction from the preceding seven-day period. This shift could indicate renewed community backing for the meme coin, potentially influenced by the

Blockchain platform Lookonchain has unveiled the success story of a trader who leveraged the DEX GMX to make over $1 million in profits.

GMX Trader Makes Over $1 Million During Crypto Market Crash

9 months ago 2 mins read

Blockchain analytics platform Lookonchain has unveiled a remarkable success story involving a trader who leveraged the decentralized exchange (DEX) GMX to generate substantial profits. The trader’s ability to accurately predict Ethereum’s price movements over the past few weeks led to a profit of more than $1 million. The trader’s journey began on July 14th, when Ethereum (ETH) was trading near a recent high of approximately $2,000. Recognizing an opportunity amidst the market dynamics, the trader executed a short position on the cryptocurrency. As the market experienced a significant crash, the trader’s timely decision allowed them to capitalize on the downturn,

Liquidation of $30M BNB Position of $560M Hack Perpetrator Coincides with Crypto Market Crash

Liquidation of $30M BNB Position Linked to $560M Hack Amid Crypto Market Crash

9 months ago 2 mins read

In a dramatic turn of events, a $30 million BNB position linked to the perpetrator of a massive $560 million hack was liquidated on the Venus lending protocol during the crypto market crash on August 17. This incident sheds light on the complexities of DeFi ecosystems, centralization, and the measures taken to safeguard against market turbulence. Liquidation Amid Market Turmoil: The BNB Core team took proactive action by manually liquidating the $30 million BNB position on the Venus lending protocol as BNB’s price plummeted below $220. This decision was in accordance with a governance proposal passed by Venus in November

RocketSwap a DEX paltform fell victim to a devastating hack that resulted in the theft of 471 ETH

RocketSwap a DEX platform fell victim to a hack that resulted in the theft of 471 ETH

9 months ago 2 mins read

RocketSwap, a decentralized exchange (DEX) operating on the Base Layer 2 network, recently fell victim to a hack that resulted in the theft of 471 ETH, equivalent to a staggering $870,000. The breach shed light on security vulnerabilities within the DEX, leading to a subsequent memecoin creation that caught the attention of both the crypto community and the wider public. The hack, which shook the crypto landscape, was traced back to a series of security lapses within RocketSwap. Among the identified vulnerabilities were the DEX’s utilization of offline signatures during the launchpad deployment and the controversial decision to store private

DOGE Tokens Awaken from 9-Year Slumber: Ancient Whales Move 7 Billion

DOGE Tokens Awaken from 9-Year Sleep: Ancient Whales Move 7 Billion DOGE

9 months ago 1 min read

The Dogecoin (DOGE) community witnessed the reawakening of four ancient whales that had remained inactive for over nine years. Beginning this year, these long-dormant whales have orchestrated significant movements, transferring a total of 6.8 million DOGE, valued at approximately $557,157 based on Dogecoin’s prevailing prices during their activity. The resurgence of these four ancient Dogecoin whales, which remained dormant for nearly a decade, has sparked intrigue within the cryptocurrency community. Each of these whales had been inactive for over nine years before making their recent transactions, hinting at a noteworthy change in the cryptocurrency landscape. The recorded transactions paint a

PayPal Rolls Out State-of-the-Art Crypto Platform

PayPal Unveils Cryptocurrency Platform

9 months ago 2 mins read

In a significant update to its terms and conditions, renowned payment platform PayPal has unveiled a groundbreaking feature – the Cryptocurrencies Hub. This innovative addition allows users to seamlessly manage and engage with cryptocurrencies, starting with Bitcoin, directly within their PayPal accounts. The recent modifications to PayPal’s terms and conditions not only outline the prerequisites for utilizing the Cryptocurrencies Hub but also shed light on the extensive capabilities this feature brings to cryptocurrency enthusiasts. Through this new offering, PayPal users gain the ability to buy, sell, and hold various cryptocurrencies, making transactions more accessible and streamlined. One of the standout

SHIB has achieved a remarkable 30% gain over the past month

Shiba Inu (SHIB) Surges 30% Over a Month

9 months ago 1 min read

Shiba Inu (SHIB) has captured the imagination of the meme coin community with an impressive and relentless surge since the beginning of July. Notably, SHIB has achieved a remarkable 30% gain over the past month, outperforming even the world’s largest meme cryptocurrency, Dogecoin (DOGE), which saw a 16% rise during the same period. While a combination of factors has likely contributed to Shiba Inu’s surge, the spotlight is on the growing developer activity within its blockchain network, which has had a notably positive influence on its performance. According to Kaiko, a leading digital asset data provider, SHIB has experienced a

Glassnode reveals a remarkable surge in the number of Bitcoins held by long-term investors

Long-term Bitcoin investors reach an all-time high of 14.599 million

9 months ago 2 mins read

Glassnode, a leading blockchain analytics company, has unveiled a groundbreaking report that reveals a remarkable surge in the number of Bitcoins held by long-term investors, reaching an all-time high of 14.599 million. This surge, which amounts to a staggering 43,949 Bitcoins (approximately $1.274 billion) added to these wallets in the past week, signifies a profound shift in investor behavior and confidence within the cryptocurrency landscape. Bitcoin addresses that have steadfastly held onto their investments for a minimum of 155 days are now recognized as long-term holders, often affectionately referred to as “HODLers.” Glassnode underscores the historical data, affirming that such

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