Sophia Hernandez
Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.
Articles by Sophia Hernandez
1 year ago
1 min read
Changpeng Zhao, founder, and CEO of Binance, the largest cryptocurrency exchange in the world, has called for clear regulations in the crypto industry. Speaking at the Web3 Festival in Hong Kong, Zhao said that having no regulatory clarity is the worst and that having bad restrictive regulations is better than having unclear ones that lead to enforcement actions. Zhao emphasized that regulators need to understand the nuances of crypto and that the industry is different from the traditional financial industry. He added that there is a natural tendency to borrow traditional financial regulations and apply them to crypto, but that
1 year ago
1 min read
Shiba Inu (SHIB) developers have announced that Shiba’s Metaverse project is set to open by December 2023. This exciting development will expand the utility of the SHIB ecosystem, allowing users to explore, build, design, play and develop within this fantastic world. The MV team is confident that users will have the opportunity to explore some of the areas of the Metaverse by the end of 2023. However, it should be noted that this is an ongoing project, and not all areas of the Metaverse will be fully completed. The Metaverse will feature 100,595 plots of land that users can mint
1 year ago
1 min read
Binance, the world’s largest cryptocurrency exchange, experienced issues that affected its futures trading platform on April 10. The exchange’s CEO, Changpeng Zhao, confirmed that the exchange’s futures UM Rest service/API had caused the disruption, which impacted its user interface and API. Only USD-Margined contracts were affected, however, and the exchange announced that it had resolved the issue after migrating off some affected servers. Trading on the platform has since resumed. Binance has recently come under increased scrutiny, following allegations of market manipulation by the Commodities Futures Trading Commission (CFTC) and rumors of a red notice alert from Interpol for CZ.
1 year ago
1 min read
Ethereum’s Ether token experienced a 7.5% decline in its Bitcoin pair in 2023. However, things are looking up for ETH/BTC as the highly anticipated Shanghai hard fork upgrade is set for April 12. This upgrade will enable Ethereum stakers to withdraw approximately 1.1 billion ETH in rewards, valued at over $2 billion as of April 8. Many industry experts view the Shanghai hard fork as a bullish long-term development for Ether. It has already helped ETH outperform Bitcoin in April, with the ETH/BTC pair rising by around 4.75% month-to-date to reach 0.066 BTC as of April 8. The upside move
1 year ago
1 min read
Buncombe County, located in North Carolina, is considering a temporary one-year ban on cryptocurrency mining due to its potentially negative environmental impact. The proposal advanced by the Buncombe County Board of Commissioners during a meeting on April 4 would define crypto mining as a specific land use and exclude single-device mining but apply to server farms that involve three or more computers. A public hearing is set to be held on May 2, with the ban expected to begin on that date if approved. The adverse effects of crypto mining, such as high electricity consumption, environmental damage, electronic waste, and
1 year ago
1 min read
MicroStrategy, the American business intelligence firm, has just made headlines again for its latest acquisition of an additional 1,045 Bitcoin (BTC) for approximately $29.3 million at an average price of $28,016 per BTC. The news was shared by the company’s executive chairman, Michael Saylor, in a tweet on April 5. With this recent purchase, MicroStrategy’s total Bitcoin holdings now stand at 140,000 BTC, which were acquired for approximately $4.17 billion at an average price of $29,803 per BTC as of April 5, 2023. This latest development marks a significant milestone for the company as it continues to invest in Bitcoin
1 year ago
1 min read
United States Senator Elizabeth Warren has recently expressed her disapproval of cryptocurrencies, stating that they are built on speculation and compared them to “air.” However, she also criticized the banking industry, pointing out high fees, lack of transparency, and lack of speed. Instead, Warren believes that central bank digital currencies (CBDCs) backed by the government could solve these issues. During an interview, Warren discussed the value of cryptocurrency and what kinds of regulations she would like to see implemented. She compared stablecoins to money markets but remained doubtful whether top stablecoins are pegged to the USD as issuers claim. She
1 year ago
1 min read
Binance, the largest crypto exchange in the world, faced a technical bug that disrupted spot trading, deposits, and withdrawals earlier today. The issue reportedly affected a trailing stop order and prompted the exchange to halt spot trading as part of its standard operating procedure. Binance users took to Twitter to raise the issue, following which the exchange disabled spot trading to work on the problem. CEO Changpeng Zhao confirmed that one of Binance’s matching engines had encountered the bug, but assured users that their funds were “SAFU.” During the outage, malicious elements spread FUD about the crypto exchange, claiming they
1 year ago
1 min read
The U.S. Department of Justice (DOJ) has announced that it is charging Bulgarian national Irina Dilkinksa with fraud for her alleged role in a multibillion-dollar crypto scheme. Dilkinksa is believed to have been the head of the legal and compliance department of OneCoin, a $4 billion pyramid scheme that marketed itself as a cryptocurrency firm. According to the DOJ, Dilkinksa helped OneCoin launder millions of dollars of illegal proceeds through shell companies, despite her supposed role in the company as head of legal and compliance. The pyramid scheme, which was started by “cryptoqueen” Ruga Ignatova in 2014, was found to
