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
6 months ago
1 min read
Swiss banking institution St. Galler Kantonalbank (SGKB) is diving into the world of cryptocurrencies, offering its customers the ability to trade Bitcoin (BTC) and Ethereum (ETH). To make this happen, SGKB has partnered with SEBA, a bank that specializes in all things crypto, to handle the brokerage and custody services. This new service is already up and running for specific SGKB customers, following a short testing period. And the best part? SGKB plans to add more crypto in the future, depending on what its customers are interested in. SGKB, which serves both regular folks and big institutions, managed around $58.9
6 months ago
1 min read
In recent testimony, Sam Bankman-Fried, the founder of FTX, revealed that he had been advised to avoid asking too many questions, a situation that led to a series of financial decisions. When employees raised concerns or pointed out issues, SBF admitted that he did acknowledge them but explained that his busy schedule often distracted him. Posts on the social platform X (formerly Twitter) suggest that FTX employees took the initiative to report problems within the exchange to SBF. However, it appears he may not have given these concerns the attention they deserved. When questioned about whether his team had alerted
6 months ago
3 mins read
Bitcoin (BTC) has indeed made a significant impact in the world of finance and technology since its inception in 2009. This article provides insights into its history, factors influencing its price, and its prospects in the years to come. What is Bitcoin? Bitcoin was introduced by an anonymous Satoshi Nakamoto and has since become the most well-known crypto globally. Its decentralized nature and cryptographic consensus have revolutionized how we think about and use money. The crypto landscape has evolved over the years, giving rise to several altcoins that attempt to compete with Bitcoin or offer unique features. Bitcoin’s market dominance
6 months ago
1 min read
Bitcoin’s dominance surged above 50% for the first time since April 2021. This means that Bitcoin’s (BTC) market capitalization now accounts for over 50% of the total cryptocurrency market. It’s a development that many traders and investors closely monitor, as it reflects Bitcoin’s strength relative to other cryptos in the market. To put it simply, when Bitcoin’s dominance is high, it indicates that BTC is outperforming alternative cryptocurrencies to Bitcoin (altcoins). When it’s low, it suggests that altcoins are gaining ground. Now, there are a few reasons why this surge in dominance is happening. One factor is the recent buzz
6 months ago
1 min read
The US Courts have issued a new mandate concerning Grayscale’s proposal for a spot Bitcoin ETF, and this development has had a ripple effect across various markets. Grayscale seeks to convert it into a spot Bitcoin exchange-traded fund (ETF). The legal process started gaining attention on August 29, when courts mandated the U.S. Securities and Exchange Commission (SEC) to review Grayscale’s proposal. This week, a formal mandate was issued, further emphasizing the need for this review. This recent mandate coincides with positive performance across multiple assets. The Grayscale Bitcoin Trust (GBTC), which is at the center of these proceedings, has
6 months ago
1 min read
Hayden Adams, the creator of Uniswap, has made a move in the crypto world by burning nearly all of the HayCoin (HAY) supply, amounting to $650 billion. This bold decision, executed on October 20, comes in response to the unexpected surge in the price and popularity of HAY, which had evolved from a test token introduced five years ago. HAY, initially a test token, unexpectedly transformed into a meme coin, attracting substantial transaction volumes and speculation. Adams himself was taken aback by this development, acknowledging the unpredictable and often peculiar nature of the crypto landscape. However, the soaring value of
6 months ago
1 min read
Binance is advancing its European offerings through strategic partnerships aimed at enhancing EUR-based payments, deposits, and withdrawals. This signifies a significant move for Binance, providing users with the convenience of Euro spot pairs and simplified EUR deposit and withdrawal options via Open Banking, as well as SEPA and SEPA Instant services. Seamlessly converting between fiat currencies and cryptocurrencies is essential for promoting digital asset adoption on a global scale. Streamlining the process of buying and selling cryptocurrencies is particularly critical for newcomers to the space, making it more accessible and less intimidating. However, the situation in the United States presents
6 months ago
1 min read
Tesla has continued to uphold its Bitcoin holdings in the third quarter (Q3) of 2023, marking its fifth consecutive quarter without any changes to its digital asset investments. According to Tesla’s Q3 2023 financial results, released on October 18, the EV manufacturer company retained around $184 million worth of digital assets as of September 30. This amount is a fraction of the $1.5 billion worth of BTC that Tesla initially acquired in March 2021. The latest quarterly results affirm that Tesla neither purchased nor sold any Bitcoin during this period. It’s important to note that the previous year witnessed a
7 months ago
2 mins read
Dutch crypto companies, including Bitvavo and Coinmerce, have achieved a significant legal victory in their ongoing battle against hefty fees totaling $2.3 million imposed by Dutch regulators. In two separate judgments issued on a Wednesday, a Rotterdam court ruled that the Dutch central bank (DNB) had exceeded its legal authority by charging companies for registration related to anti-money laundering compliance. The court stated that the way the DNB evaluated registration requests contradicted the scope of the registration obligation for crypto service providers outlined in European Union anti-money laundering laws. As a result, the court found it unlawful to charge supervisory
7 months ago
1 min read
Meta Platforms, the parent company of Facebook and Instagram, is considering offering ad-free subscription plans to users in Europe. The move is seen as an attempt by Meta to comply with European Union regulations that threaten to curb its ability to personalize ads for users without their consent. According to two people familiar with the matter, Meta has discussed several pricing plans, but the most feasible option is a 10 euro per month plan. The subscription plans could be implemented in the coming months. Meta is currently the world’s largest online advertising company and its revenue is heavily dependent on
7 months ago
2 mins read
In a surprising turn of events, all 15,000 Ethers (ETH) that had been sitting in a wallet associated with last year’s $600 million attack on FTX have now been moved through privacy tools and bridges. This development sheds new light on one of the ongoing mysteries surrounding the exchange’s collapse in 2022. The Attack and Stolen Funds In November 2022, shortly after FTX and its affiliated companies filed for bankruptcy, an unknown party successfully drained various wallets, making off with as much as $600 million. Among the stolen assets, approximately $26 million worth of ETH, equivalent to 15,000 ETH, had
7 months ago
2 mins read
Earlier this week, cryptocurrency exchange HTX, formerly known as Huobi, experienced a significant security breach. Around 5,000 Ether (ETH), valued at $7.9 million, was stolen by a hacker who compromised the exchange’s hot wallet, making off with the assets in a single sweep. In response to the breach, Tron founder and HTX advisor Justin Sun reassured users that their assets would be safe and the exchange would cover the losses. However, HTX took a unique approach by leaving an on-chain message for the hacker. They offered a 5% white-hat bounty and gave the hacker seven days to return the funds.
