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
9 months ago
2 mins read
Binance, the world’s leading cryptocurrency exchange renowned for its high trading volume, has taken a proactive step towards transparency by releasing its August 2023 reserve report. This report sheds light on the exchange’s substantial holdings of digital assets and its robust reserves-to-customer-balance ratio. Unveiling Binance’s Reserves and Ratio The August 2023 reserve report from Binance underscores the exchange’s commitment to accountability and customer trust. The central focus of this disclosure lies in the exchange’s ability to cover customer deposits with a significant margin of reserves. The reserve ratio, a crucial metric in this context, is derived by dividing Binance’s net
9 months ago
2 mins read
The United States Federal Bureau of Investigation (FBI) has issued a cautionary alert regarding the escalating threat of criminal actors infiltrating social media accounts and impersonating legitimate figures within the nonfungible token (NFT) and cryptocurrency realm. The FBI’s warning also spotlights the proliferation of spoof websites that deceive victims into believing they are engaging with authentic platforms, ultimately leading to the pilfering of their NFTs or cryptocurrency assets. As the number of individuals falling victim to these fraudulent tactics continues to rise, the FBI’s advisory underscores the imperative of staying vigilant in the ever-evolving landscape of digital fraud. The FBI’s
10 months ago
2 mins read
Lido Finance continues to dominate the cryptocurrency staking landscape, securing an impressive 28% of the total market share, as reported by market intelligence platform IntoTheBlock. The Ethereum Staking Market Share indicator reveals the distribution of staking services within the industry, with Lido Finance leading the pack. Let’s delve deeper into the insights provided by this indicator and explore the latest developments in the staking market. IntoTheBlock’s Ethereum Staking Market Share indicator highlights Lido Finance’s prominent position as the foremost staking service, capturing over 28% of the total market share. This underscores Lido Finance’s influence and widespread adoption within the cryptocurrency
10 months ago
1 min read
OpenAI CEO Sam Altman has been conducting an investigation into the Worldcoin (WLD) project since late last year. The project has garnered attention for its large-scale processing of sensitive biometric data, raising concerns over privacy and data protection. Launched recently, Worldcoin requires users to undergo iris scans in exchange for a digital ID and free cryptocurrency, as part of its ambitious plan to establish an “identity and finance network.” According to Michael Will, the head of the German data supervisory agency, the Bavarian State Data Protection Supervisory Office will lead the investigation into Worldcoin. The project, initiated by Tools For
10 months ago
2 mins read
Shiba Inu, the meme-inspired cryptocurrency, has consistently remained a favorite among the largest Ethereum whales, and recent data shows that this sentiment remains unchanged. In the portfolios of the top 100 Ethereum whales, Shiba Inu continues to hold a prominent position, demonstrating its appeal as an investment choice in the crypto world. While stablecoins dominate these investors’ holdings, Shiba Inu stands out as the leading non-stablecoin token, solidifying its position as a significant player in the market. The top 100 Ethereum whales represent some of the most significant players in the crypto space. These investors not only hold substantial amounts
10 months ago
2 mins read
Ripple, the payment protocol, has taken a significant step in its global expansion plans by applying for registration as a crypto asset firm with the United Kingdom’s Financial Conduct Authority (FCA). Additionally, the company is seeking a payments license in Ireland, further solidifying its massive investment in the region. This move comes on the heels of a recent partial win against the United States Securities and Exchange Commission (SEC) over the classification of its XRP token as a security. As Ripple’s ambitions grow, more crypto firms are eyeing the United Kingdom for regulatory clarity and a supportive business environment, while
10 months ago
2 mins read
In a significant development in the world of cryptocurrencies, the U.S. Securities and Exchange Commission (SEC) recently announced its intention to appeal a federal judge’s ruling in a landmark cryptocurrency case. The ruling favored Ripple Labs, stating that almost half of its XRP sales did not violate investor protection laws. This decision gave hope to other defendants facing SEC lawsuits over cryptocurrency sales. However, the SEC now seeks to challenge the ruling, causing uncertainty for defendants like Do Kwon, the jailed co-founder of crypto firm Terraform Labs. The SEC’s decision to appeal came after U.S. District Judge Analisa Torres ruled
10 months ago
2 mins read
Cryptocurrency exchange Binance has successfully integrated the Bitcoin Lightning Network on its platform, offering its users the option to use the layer-2 scaling solution for BTC withdrawals and deposits. This move comes as Binance seeks to enhance transaction speed and reduce costs amid a surge in Bitcoin network gas fees. The Lightning Network allows users to create off-chain transaction channels, making Bitcoin transactions faster and more cost-effective. In a recent blog post on July 17, Binance confirmed the completion of its Lightning Network integration, offering users the ability to choose “LIGHTNING” as an option for BTC withdrawals and deposits. Alongside
10 months ago
1 min read
Coinbase, a leading global cryptocurrency exchange, has announced its decision to discontinue accepting new staking assets from customers in four US states. The move comes as Coinbase faces ongoing regulatory disputes, primarily with the U.S. Securities and Exchange Commission (SEC) and certain state regulators. The SEC and state regulators have raised objections to Coinbase’s staking program, alleging that it involves the sale of unregistered securities. In June, the SEC filed a lawsuit against Coinbase, accusing the exchange of violating securities laws by launching a lending product that allowed users to earn interest on their crypto assets. Coinbase has strongly denied
10 months ago
1 min read
Ripple Lab’s native token, XRP, experienced a substantial surge of up to 30% on Thursday following a pivotal ruling in an ongoing lawsuit. The decision, as reported, resulted in a mixed outcome, with motions from both the Securities and Exchange Commission (SEC) and Ripple being granted and denied in part. Consequently, the case will now proceed to trial, with the issues that were denied summary judgment to be further addressed in the trial proceedings. In the court filing, the judge declared that Ripple’s Institutional Sales of XRP constituted the unregistered offer and sale of investment contracts, violating Section 5 of
10 months ago
1 min read
Arbitrum Network-based Rodeo Finance lost 472 ether ($888,000) in a DeFi exploit today. The hacker exploited the protocol by manipulating price feeds, which allowed them to steal the funds. The hacker transferred the stolen funds from Arbitrum to Ethereum, and then exchanged them for various other assets before converting them back to ether. They then funneled the funds through the sanctioned crypto mixer Tornado Cash to obfuscate the trail. This is the third exploit on the Arbitrum Network in the last four months. In April, Arbitrum-based Sentiment lost $1 million to a DeFi exploit, and in May, Jimbos protocol lost
10 months ago
1 min read
The collapse of FTX, a cryptocurrency exchange, has had a devastating impact on Tom Brady and Gisele Bündchen, who were major investors in the company. Brady and Bündchen reportedly lost millions of dollars due to the collapse, as they had invested a significant portion of their wealth in FTX stock. The couple’s involvement with FTX began in 2021 when they signed a lucrative endorsement deal with the company. As part of the deal, Brady and Bündchen appeared in a series of commercials for FTX and promoted the company on social media. They also received a large sum of FTX stock
