Author: Mohammed Ali

Article written by Mohammed Ali

Whale moves 200,000 Solana (SOL) worth around $10 million to Binance

November 24, 2023 1 min read

A significant amount of Solana (SOL) tokens, totaling around 200,000 SOL and valued at more than $10 million, were transferred to Binance, causing a jolt in the cryptocurrency market. This significant movement has fueled speculation about a possible sell-off, resulting in a 1.89% drop in SOL’s price in the last 24 hours. A crypto whale transferred 200,000 SOL tokens to Binance, causing concern and rumors in the cryptocurrency community. The

Grayscale Pursues Spot Bitcoin ETF Approval: Recent SEC Meeting Signals Progress

November 22, 2023 1 min read

Grayscale Investments is actively seeking approval to convert its Grayscale Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF). The asset manager recently met with Securities and Exchange Commission (SEC) officials to discuss potential listing issues regarding the product’s shares. According to a memo published by the SEC, the meeting focused on NYSE Arca, Inc.’s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust (BTC) under

dYdX faces an attack, leading to the burning of $9 million from its insurance fund to cover user losses

November 20, 2023 1 min read

On November 17, a targeted attack on the decentralized crypto exchange dYdX resulted in the burning of $9 million from its insurance fund to compensate for user losses. As a result, dYdX has increased the margin requirements for tokens in less liquid markets and taken other steps to reduce risk. Due to the attack, which was mainly concentrated on the YFI token and caused the liquidation of about $38 million

Crypto.com secures a license in Dubai, expanding its global crypto services

November 15, 2023 1 min read

Crypto.com crypto exchange has achieved a significant milestone by securing a license to operate in Dubai. The license, granted to Crypto.com’s Dubai branch, known as CRO DAX Middle East FZE, follows the initial approval received in March. The licensing process in Dubai involves several stages, including a provisional permit, a preparatory license, and the final operating license. Crypto.com has successfully navigated through these steps and is now poised to enter

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

November 11, 2023 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

Senator Introduces Bill to Preserve Rights of Crypto Owners

November 10, 2023 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

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

November 7, 2023 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

Ethereum Whale Moves Millions in ETH from Binance Exchange

November 6, 2023 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

UK Authorities Grant Approval to PayPal for Crypto Offerings

November 2, 2023 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

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

October 30, 2023 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

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

October 28, 2023 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

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

October 26, 2023 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