Author: Nola Robert

Article written by Nola Robert

FTX exchange and trading firm Alameda Research to pay $12.7 billion to creditors

August 8, 2024 1 min read

A New York judge has approved a consent order for FTX exchange and Alameda Research to pay $12.7 billion to creditors, ending a 20-month lawsuit from the Commodity Futures Trading Commission (CFTC). The order does not include civil penalties but bans FTX and Alameda from trading digital assets and acting as intermediaries in the market. FTX filed for bankruptcy in late 2022, destroying billions of dollars in investor wealth. The

XRP has drops over 30% over the past week and 20% in the last 24 hours

August 5, 2024 1 min read

In August, the crypto market witnessed an exceptional decline, with XRP suffering a substantial decrease of 19.57% and liquidations amounting to $1.11 billion. The worldwide crypto market has experienced a depreciation of more than $500 billion, representing a 16% decrease over one year. The Japanese stock market has also undergone a decline, while the S&P 500 encountered a 4.4% decrease. The scheduled private meeting between officials from the Securities and

Decentralized exchange Bitflow integrates its swap function into the Leather wallet

August 2, 2024 1 min read

Bitflow, a decentralized exchange (DEX) that lets people trade and make money with Bitcoin, has stated that it will work with Leather Wallet, the most popular Bitcoin wallet. Over 370,000 users can now easily swap assets on Stacks thanks to this partnership. This makes it easier for them to get more involved with decentralized finance (DeFi). The integration is meant to bring in more users and encourage more usage and

Decentralized governance hedge fund platform Convergence exploited with 58 million CVG tokens minted and swapped

August 2, 2024 1 min read

A major security hole in the decentralized finance protocol Convergence has caused its CVG token to fail. The hacker took advantage of a weakness in the protocol’s script to make 58 million CVG tokens and trade them for wrapped Ether and crvFRAX stablecoin worth $200,000. The attacker then changed the money into Ethereum and sent it to Tornado Cash, a tool for privacy that hides transaction histories. The breach caused

HSBC Australia to block all customer payments to crypto exchanges

July 26, 2024 1 min read

On July 24, HSBC Australia enacted a new policy that prohibits all bank accounts and credit card transactions with crypto exchanges. This action comes in response to at least six prominent banks in Australia prohibiting transactions on crypto exchanges. The bank seeks to safeguard its consumers by mandating that they utilize alternative methods for doing transactions using cryptocurrency platforms. The bank referenced a recent report by the Australian Competition and

Bitcoin miner MARA buys $100 million worth of bitcoin (BTC)

July 25, 2024 1 min read

Bitcoin miner MARA has acquired an extra $100 million worth of Bitcoin (BTC). As a result, its balance sheet now has over 20,000 BTC, equivalent to $1.3 billion. This represents roughly 0.1% of the total supply of Bitcoin, which is capped at 21 million units. The company did not disclose the exact timing and average price of the purchases. However, considering the dollar amount and the company’s balance sheet holdings

Mt. Gox customers will finally receive their crypto assets worth over $9 billion

July 25, 2024 2 mins read

After a lengthy legal process spanning ten years, Mt. Gox, formerly the largest Bitcoin exchange, is now poised to initiate reimbursements to its clientele. Before its collapse in 2014, the exchange, which processed more than 70% of all BTC transactions, lost 950,000 BTC while the value of Bitcoin was $600 a coin. In the current month, a total of 20,658 clients will begin receiving a portion of their previously lost

BlackRock’s Ethereum ETF launch sees over $260 million in inflows

July 24, 2024 1 min read

The introduction of spot Ethereum ETFs in the United States has marked a noteworthy achievement for crypto fans and investors. The Ethereum ETF (ETHA) offered by BlackRock attracted the highest amount of new investments, totaling $266.5 million. This resulted in a daily trading volume above $1 billion. The Grayscale Ethereum Trust (ETHE) witnessed substantial outflows amounting to $484.1 million, in contrast to other ETFs which observed a combination of inflows

An on-chain peer-to-peer payments dApp Reveel, reaches 100,000 users in Over 160 Countries

July 23, 2024 1 min read

Reveel, an on-chain peer-to-peer payments app, announced it has reached 100,000 users across 160 countries, making it the largest on-chain peer-to-peer (P2P) payments app available. According to the team, the app provides decentralized, transparent, and secure on-chain payments globally and across multiple tokens and chains, including BNB Chain, with which Reveel recently announced a collaboration. By 2028, nearly 3 in 4 US smartphone users are expected to send money over

This whale moves nearly $60 million in BTC after 12 Years of dormancy

July 16, 2024 1 min read

A bitcoin whale has transferred 1,000 BTC from a Bitcoin wallet that has been inactive for almost 12 years. The wallet, acquired in September 2012, currently holds a value over $64 million, representing a remarkable growth of 530,000%. Whale Alert, a cryptocurrency monitoring tool, has observed that the wallet has received little and insignificant quantities of Bitcoin on several occasions throughout the past 12 years. However, these transactions seem to

Coinbase narrows subpoena for SEC Chair Gensler’s emails to his time as chair

July 16, 2024 2 mins read

Coinbase has withdrawn its subpoena directed at SEC Chair Gary Gensler, specifically targeting information pertaining to his tenure as the head of the regulatory agency. The decision is made in response to the New York judge’s concerns on the extensive nature of the request, which encompassed utterances about cryptocurrency dating back to 2017. The lawyer for Coinbase clarified that the subpoena has been limited to solely encompassing papers from Gary

Ripple’s Chief Legal Officer blasts the US for failing to provide clear crypto regulations

July 7, 2024 1 min read

Stuart Alderoty, the Chief Legal Officer of Ripple, has expressed disapproval of the United States’ ambiguous legislation around crypto, emphasizing the necessity of a consistent structure for digital assets. Alderoty expressed disapproval of the United States’ inability to deliver consistent outcomes, drawing a comparison to other nations such as the European Union and the United Kingdom. The United States is perceived as falling behind in the adoption of cryptocurrencies and