Article written by Roland Guirdonan

Why Is Arbitrum (ARB) Down 68% In 7 Months?

1 min read

The value of Arbitrum, the native currency of Ethereum’s layer-2 solution Arbitrum, has experienced a significant decline of 68% since its peak in January 2024. However, encouraging on-chain advancements suggest that Arbitrum now holds the highest amount of total value locked (TVL) and is filled with significant potential. Around 48% of Ethereum bridging assets are sent via Arbitrum, demonstrating its technological proficiency in resolving the scalability issues that affect the

BlackRock’s spot bitcoin ETF sees over $520 million inflow

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BlackRock’s bitcoin exchange-traded fund (ETF), IBIT, received a net inflow of $527 million, which is the highest daily amount since mid-March. Ten bitcoin exchange-traded funds (ETFs) in the United States, excluding Bitwise’s BITB, saw a total net inflow of $533.57 million. Among them, BlackRock’s IBIT was the most actively traded. Fidelity’s FBTC came in second with a total of $23.72 million. The BTCO fund, overseen by Invesco and Galaxy Digital,

Spot Ethereum ETFs are set to launch on CBOE next week

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The Chicago Board Options Exchange (CBOE) plans to introduce five Ethereum exchange-traded funds (ETFs) on July 23, 2024. The ETFs will be listed on the Chicago Board Options Exchange (CBOE) and will commence trading as a new offering, subject to regulatory approval. The Securities and Exchange Commission (SEC) is responsible for granting approval to the issuers of these ETFs for their S-1 forms, which allows them to be publicly traded.

Crypto experts accuse Worldcoin of price manipulation and label it a scam

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Worldcoin (WLD) is currently under intense scrutiny by crypto specialists, who allege that the project and its supporters are engaging in price manipulation, labeling it as the “most significant fraudulent token of the bullish market.” Investigator ZachXBT has identified venture capitalists and team members, such as Coinbase executive Nick Tomaino, FTX founder Sam Bankman-Fried, and 3AC, as those who have facilitated fraudulent activities. A research by DefiSquared substantiates these allegations,

SEC Chair Gensler Warns of Crypto Risks: What It Means for Investors

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Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), recently released a cautionary statement on social media regarding cryptocurrencies. He specifically drew attention to the growing popularity of meme coins such as Dogecoin, Shiba Inu, and PEPE, which are sponsored by celebrities. Gensler questioned the SEC’s intentional tactic of issuing warnings during important crypto legislative discussions in Congress. Gensler’s position has provoked criticism from the crypto industry,

Over $53 million daily net inflow was recorded into the US spot Bitcoin ETFs

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Eleven US spot bitcoin exchange-traded funds received a total of $53.35 million in daily net inflows on Wednesday, extending their positive streak to nine consecutive days. BlackRock’s IBIT experienced the highest net inflows of the day, totaling $110.37 million. The Bitcoin ETF with the greatest net asset value had a transaction volume of $1.21 billion. Fidelity’s FBTC experienced the most significant increase in net funds, amounting to $2.83 million. BITB,

Major Security Breach at Indian Crypto Exchange WazirX: Over $235 Million Stolen

2 mins read

In a major security incident, Indian cryptocurrency exchange WazirX fell victim to a hack that resulted in the theft of around $235 million worth of various digital assets. The breach, which occurred on July 18th, 2024, targeted WazirX’s multisig wallet on the Ethereum network. Investigators believe the stolen funds were moved to a new address and then partially converted to Ethereum using the Tornado Cash mixing service, a tool often

Tether freezes $29.62 million in USDT linked to Cambodia’s Huione Group

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Tether has seized $29.62 million in USDT associated with illicit activity involving Cambodia’s Huione Group, showcasing its dedication to upholding the security of its stablecoin amidst growing regulatory scrutiny. Nevertheless, the address in question persisted in transferring Circle’s USDC stablecoin, casting doubt on the efficacy of the freeze. Bitrace, a blockchain security company, disclosed that the wallet “TNVaKW,” which contained the immobilized USDT tokens, was associated with Huione Group’s guarantee

FTX exchange agrees to a $4 billion settlement with the CFTC

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FTX, a bankrupt crypto exchange, has agreed to a $4 billion settlement with the US Commodity Futures Trading Commission (CFTC), a significant reduction from the initial demand of $52.2 billion. The settlement aims to expedite asset distribution to creditors affected by FTX’s collapse in 2022. The agreement is pending approval from US Bankruptcy Judge John Dorsey, with a hearing set for August 6, 2024. If approved, the settlement will ensure

Bitcoin and Ethereum are now officially classified as commodities, says CFTC Chair

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Both Bitcoin (BTC) and Ethereum (ETH) have been officially acknowledged as commodities by the Commodities Futures Trading Commission (CFTC) of the US during a hearing held by the Senate AG committee on digital commodities. Rostin Behnam, Chairman of the Commodity Futures Trading Commission, has verified that Bitcoin and Ethereum have been approved as digital commodities under the Commodity Exchange Act by a court in Illinois. In contrast to the statements

Solana gaming L2 Sonic announces a partnership with Neon Stack

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Solana gaming L2, Sonic, has partnered with Neon Stack to bring Ethereum Virtual Machine (EVM) compatibility to its Sonic Virtual Machine (SVM). This partnership will enable Ethereum developers to launch EVM-powered dapps on Sonic’s gaming-optimized HyperGrid L2. Sonic’s L2 is designed to support high-volume dapps, including web3 games, with settlement occurring on Solana L1. The partnership will make it easy for Ethereum developers to migrate EVM-based dapps to Solana, enabling

EOS Network Introduces 250M EOS Staking Program

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EOS Network has launched a 250 million EOS staking rewards program today, July 8th, as part of the network’s updated tokenomics plan. There is a daily distribution of 85.6 thousand EOS to Stakers in accordance with the new staking rewards schedule. The newly redesigned EOS staking program offers an initial annual percentage yield (APY) of more than sixty percent to early stakers who participate in the program. The number of