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

How HTX’s $8 Million Hack Impacts Centralized Crypto Exchanges

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.

SEC Commences Proceedings to Assess Spot Bitcoin ETFs, Welcomes Public Comments

SEC Initiates Process to Decide the Future of Spot Bitcoin ETFs, Seeks Public Input

7 months ago 2 mins read

The U.S. Securities and Exchange Commission (SEC) has taken significant steps regarding spot Bitcoin exchange-traded funds (ETFs) in filings submitted on September 28. These filings set in motion proceedings that will help the SEC decide whether to approve or reject proposed rule changes, potentially allowing spot Bitcoin ETFs to trade on commodities exchanges. In these filings, the SEC is seeking input from the public on various matters. The first section primarily asks for opinions on whether proposed spot Bitcoin ETFs are susceptible to fraud and manipulation or if they can effectively prevent such issues. Another section asks for insights into

Chainlink (LINK) Moves Ahead of Shiba Inu (SHIB) in Crypto Market

Chainlink (LINK) Overtakes Shiba Inu (SHIB) in Crypto Rankings

7 months ago 1 min read

Shiba Inu (SHIB), a well-known player in the world of meme coins, finds itself in a precarious position today. SHIB briefly slipped below Chainlink (LINK) in terms of market capitalization, as reported by data from CoinMarketCap. Although SHIB managed to reclaim its spot above LINK for now, the gap between the two remains narrow. This situation has placed the second-largest meme coin on the verge of dropping out of the top 20 cryptocurrencies. To put things in perspective, Dogecoin, the largest meme coin, still holds a strong position in the market, ranking ninth with a market capitalization of $8.5 billion.

Binance Japan and Mitsubishi Join Hands to Create Stablecoin

Binance Japan and Mitsubishi Partner Up for Stablecoin Development

7 months ago 1 min read

Binance Japan is joining forces with Mitsubishi UFJ Trust Bank (MUTB) to create new stablecoins pegged to major currencies in Japan. These stablecoins will be tied to fiat currencies like the Japanese Yen and foreign currencies such as the U.S. Dollar. The foundation for these stablecoins will be Progmat Coin, an infrastructure platform owned by Mitsubishi, that complies with Japan’s Payments Service Act. Progmat Coin has garnered support from several major banks in Japan, including Mizuho Bank, SMBC, and SBI Holdings. In a statement released on September 26, both organizations announced the commencement of a collaborative study aimed at developing

Hong Kong Reveals Cryptocurrency License Seekers

Hong Kong Reveals Crypto License Applicants

7 months ago 1 min read

Hong Kong has decided to increase transparency by revealing the names of companies that have applied for retail crypto trading licenses. This move comes in response to the recent controversy surrounding the trading platform JPEX. The Securities and Futures Commission (SFC) announced that it will publish several lists, including licensed virtual asset trading platforms (VATPs), closing-down VATPs, and VATPs deemed licensed as of June 1, 2024. Additionally, a list of VATP applicants will be made public due to public demand. To enhance awareness and help the public identify suspicious VATPs in Hong Kong, the SFC plans to issue a dedicated

Bybit is exiting the UK market ahead of new crypto marketing rules set to be enforced by the country's financial regulator, the FCA

Bybit Exchange Suspends Operations in the UK After CEO Hints at Exit

7 months ago 2 mins read

Crypto exchange Bybit is exiting the UK market ahead of new cryptocurrency marketing rules set to be enforced by the country’s financial regulator, the Financial Conduct Authority (FCA), next month. The FCA is introducing new rules to make the marketing of crypto products more transparent and accurate, including a cooling-off period for first-time investors. Bybit confirmed its decision to exit the UK market, stating that it chose to embrace the regulation proactively and pause its services in the country. Here are the key dates and actions for UK users: The length of the suspension and whether Bybit will return to

Binance.US Under Fire from SEC for Alleged Lack of Cooperation

SEC Raises Concerns Over Binance.US’s Non-Cooperation

8 months ago 1 min read

The United States Securities and Exchange Commission (SEC) has ratcheted up its ongoing legal battle with Binance.US, alleging a lack of cooperation from the cryptocurrency exchange on September 14th. In a recent court filing, the SEC did not mince words, taking issue with Binance.US’s holding company, BAM, for providing a scant 220 documents during the discovery process. What’s more, the SEC claimed that many of these documents were marred by incomprehensible content, and lacked essential dates or signatures. The regulatory body went further, accusing BAM of dodging the production of crucial witnesses for deposition, opting to cooperate with only four

Google Pledges $20 Million to Drive Responsible AI Technologies

Google Unveils $20 Million Fund for Responsible AI Advancements

8 months ago 2 mins read

Following the Google Cloud Next conference in San Francisco, where Google unveiled a host of generative AI projects and tools, the tech giant has announced the launch of the Digital Futures Project. This initiative aims to bring together diverse voices in the field of AI development and promote responsible AI innovation. Alongside this project, Google has introduced a $20 million fund dedicated to supporting the responsible development of AI. A Collaborative Approach to AI Challenges Brigitte Gosselink, Google’s Director of Product Impact, explained that while AI has the potential to simplify our lives, it also raises critical questions regarding fairness,

Binance will cease trading activities of AUDIO/BUSD

Binance to Remove These Cryptocurrencies from Its Platform Starting September 8

8 months ago 1 min read

Binance has decided to delist several spot trading pairs. This decision follows a routine assessment of all spot trading pairs, with a focus on factors such as liquidity and trading volume. Starting September 8, 2023, Binance will cease trading activities for a range of spot trading pairs. The initial list of removals includes trading pairs like AUDIO/BUSD, BAT/BUSD, BSW/BUSD, CITY/BUSD, CVX/BUSD, FORTH/BUSD, JUV/BUSD, and MOB/BUSD. Following this initial phase, the removal process will continue with OGN/BUSD, OMG/BUSD, PLA/BUSD, POLS/BUSD, REI/BUSD, RSR/BUSD, SCRT/BUSD, and TVK/BUSD. Lastly, ADA/BIDR, MATIC/BIDR, UTK/BUSD, and ZIL/BIDR will also be discontinued. It’s important to note that while

A crypto whale recently executed a massive sell-off, parting with a staggering 1.5 trillion tokens of the meme-inspired cryptocurrency PEPE.

Whale Sells PEPE Tokens Worth $1.2 Million, Faces $242,000 Loss

8 months ago 1 min read

A crypto whale recently executed a massive sell-off, parting with a staggering 1.5 trillion tokens of the meme-inspired cryptocurrency PEPE. This monumental sale, valued at around $1.2 million, took place on the renowned cryptocurrency exchange Binance. However, the outcome wasn’t as profitable as one might expect, as it resulted in a substantial net loss of $242,000. Data sourced from cryptocurrency analytics firm Lookonchain reveals that the whale initiated this move across three separate transactions. Interestingly, the whale acquired these tokens on August 24, depositing them into their wallet after a withdrawal of 1.5 trillion PEPE tokens, valued at $1.45 million

Alameda Buys Yacht for Co-CEO Sam Trabucco

8 months ago 2 mins read

The FTX bankruptcy court proceedings have shed light on some previously undisclosed expenses incurred by the exchange’s C-Suite. While some expenditures, like the purchase of Robinhood shares by SBF and Gary Wang, were already public knowledge, a 57-page document unveiled a few surprises. One such revelation was a substantial sum transferred to the American Yacht Group for the benefit of John Samuel Trabucco, just six months before his departure from FTX. According to court documents filed by FTX’s legal team, on March 11, 2022, a staggering $2,513,000 was transferred to the American Yacht Group in the name of John Samuel

Data by the analyst firm Cyvers indicated that $15.7 million was transferred out

Stake Betting Platform Faces Security Concerns Amidst $41 Million Crypto Outflows

8 months ago 1 min read

On-chain analysts have raised alarm bells as a substantial amount of funds mysteriously exited the crypto-based sports betting platform Stake in a series of transactions that have sparked concerns of a significant security breach. The suspicious outflows unfolded in two distinct phases. Initially, data provided by the analyst firm Cyvers indicated that $15.7 million was transferred out of the platform. This sum comprised 6,000 ethers (equivalent to $9.8 million) and $5.9 million in stablecoins. Subsequent data, brought to light by ZachXBT, revealed that an additional $25.6 million flowed out of wallets linked to Stake on two different blockchain networks: $17.8