Author: Nola Robert

Article written by Nola Robert

Binance CEO Richard Teng denies reports that the exchange froze all Palestinian crypto assets

August 29, 2024 1 min read

Binance CEO Richard Teng has refuted accusations that the crypto exchange indiscriminately froze the funds of all Palestinian users, a situation that has raised alarm within the cryptocurrency community. Ray Youssef, the CEO of Noones and co-founder of Paxful, alleged that Binance had confiscated Palestinian funds upon the request of the Israel Defense Forces (IDF), which led to the emergence of these accusations. Youssef claimed that Binance impeded access to

Nigeria’s upcoming crypto tax reform praised as a game changer

August 27, 2024 1 min read

Nigeria’s Federal Inland Revenue Service (FIRS) is planning to restructure its tax system to incorporate cryptocurrency, a move described as a “game changer” by a key Nigerian organization. The proposed revisions seek to update tax regulations to better match with the changing financial landscape, thereby spurring economic growth and encouraging investment. The Nigeria Professionals in Diaspora Association congratulated the FIRS on its efforts to reform Nigeria’s tax rules, emphasizing the

Vitalik Buterin highlights the threat of bribery in Dark DAOs

August 17, 2024 1 min read

Vitalik Buterin, one of the co-founders of Ethereum, has expressed worries about bribery occurring in Decentralized Autonomous Organizations (DAOs). He emphasizes the necessity of implementing strong procedures to prevent such problems effectively. A team from Cornell University is investigating possible vulnerabilities in “dark” voting techniques used in DAOs. The authors introduce a novel measurement termed Voting-Bloc Entropy, which quantifies the level of decentralization in voting on DAO proposals. The use

BlackRock is now the largest digital asset fund manager, with an AUM of $22 billion

August 15, 2024 1 min read

BlackRock, the largest firm in the field of asset management, has surpassed Grayscale to become the leading manager of digital asset funds. This achievement is attributed to substantial inflows into its exchange-traded funds (ETFs) during the past several months. Since receiving clearance from the US Securities and Exchange Commission (SEC) in January, IBIT, BlackRock’s Bitcoin ETF, has experienced a net inflow of $20.37 billion. Over the last 24 hours, the

Coinbase expands services to Hawaii after regulatory changes ease restrictions

August 14, 2024 1 min read

Coinbase exchange has just extended its services to the state of Hawaii, offering a diverse array of alternatives for managing digital assets to its people. Hawaii’s Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI) has implemented substantial regulatory changes that have created new opportunities for bitcoin firms in the state. \The strict rules in Hawaii have posed challenges for crypto exchanges to operate in the region, especially

Three Arrows Capital sues TerraForm Labs for $1.3 billion, alleging market manipulation that led to the LUNA crash

August 13, 2024 1 min read

Three Arrows Capital (3AC), a defunct crypto hedge fund, has initiated a legal action seeking $1.3 billion in damages from TerraForm Labs. The lawsuit claims that market manipulation orchestrated by TerraForm Labs resulted in substantial losses during the 2022 fall of LUNA and TerraUSD. The lawsuit alleges that TerraForm Labs artificially inflated the prices of LUNA and TerraUSD, prompting Three Arrows to invest in these tokens, resulting in significant financial

Gemini urges US authorities to reconsider a proposal that would ban event contracts

August 11, 2024 1 min read

Gemini, a digital currency exchange, has called on US authorities to reassess a proposition that seeks to prohibit event contracts on decentralized prediction markets, namely those related to election predictions. The exchange highlighted the adverse consequences of this legislation on prediction markets, including those that forecast elections. Cameron Winklevoss, one of the co-founders, highlighted the significance of crypto prediction platforms such as Polymarket, which offer users transparency. Winklevoss contended that

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