Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

Scroll faces criticism over its Binance token distribution

October 14, 2024 1 min read

Scroll, an Ethereum Layer-2 network, recently found itself in hot water after it distributed its SCR governance tokens via Binance Launchpool. This move sparked frustration among users who felt that Scroll was prioritizing a centralized exchange over its own community. In response to the backlash, co-founder Ye Zhang explained that the decision was part of a larger growth strategy. He acknowledged the criticism but emphasized that the partnership with Binance

The SEC accuses Cumberland of operating as an unregistered securities dealer

October 11, 2024 1 min read

The SEC has taken legal action against Cumberland DRW, alleging that the firm has been operating as an unregistered securities dealer in the crypto space since 2018. Cumberland has vehemently denied these accusations, labeling the SEC’s tactics as “enforcement-first” and likening the situation to a legal “Catch-22.” At the heart of the matter is a pivotal regulatory debate over whether crypto transactions should be classified under securities law, a ruling

The FBI charges three crypto firms and 15 people in a major market manipulation sting

October 11, 2024 1 min read

In a groundbreaking move, the FBI has charged three cryptocurrency firms—Gotbit, ZM Quant, and CLS Global—along with 15 individuals for market manipulation, marking a significant step in the fight against fraudulent trading in the digital asset arena. This case is particularly notable as it involves the FBI creating a fake cryptocurrency token to ensnare the accused firms in their deceptive practices. The investigation revealed that these companies engaged in sham

CV Pad Set to Launch the First of Many DePIN Projects

October 10, 2024 3 mins read

The decentralized physical infrastructure network (DePIN) sector stands at the intersection of blockchain and physical infrastructure. It is rapidly gaining momentum, setting the stage for a paradigm shift in how physical assets and services are managed. DePIN is expected to impact industries by decentralizing authority and distributing decision-making across a network of contributors. This shift could reduce system vulnerabilities and redistribute both risk and responsibility.  CV Pad, the multichain Launchpad+,

Vitalik Buterin endorses SuperchainERC20 for enhanced Ethereum interoperability

October 5, 2024 1 min read

Vitalik Buterin, co-founder of Ethereum, has recently endorsed a major update to the SuperchainERC20 protocol, as outlined in a GitHub pull request by Optimism. This redesign introduces a new cross-chain interface aimed at enhancing collaboration among Ethereum infrastructure entities and creating a more cohesive ecosystem. The update focuses on revamping the SuperchainERC20 standard by incorporating the SuperchainERC20Bridge and the ICrosschainERC20 interface, which are expected to significantly improve Ethereum’s scalability and

Bitcoin soars to $61K while Israel-Iran tensions heat up!

October 2, 2024 1 min read

Bitcoin (BTC) experienced a rollercoaster ride, climbing above $61,000 after dipping to $60,400 amid escalating Middle East tensions. Iran’s missile strikes on Israel have sparked fears of retaliation, impacting market sentiment and leading to BTC’s largest drop in over a month—down 6% at one point. Historically, October is a bullish month for BTC, but this year is off to a rocky start, with losses of 3.5% noted. In contrast, gold

UK Gambling Commission charges Sorare for providing unlicensed gambling services

September 28, 2024 1 min read

The UK Gambling Commission has initiated legal proceedings against Sorare, a blockchain-based fantasy sports platform, alleging that it operates unlicensed gambling facilities. Sorare, which is based in France, allows users to collect and trade non-fungible tokens (NFTs) linked to real-life athletes and fantasy sports teams. The platform has been under investigation since October 2021, but the Commission has kept its findings largely confidential until now. A court appearance is scheduled

Institutional investors are pulling out of Ethereum ETFs

September 25, 2024 1 min read

Institutional demand for Ethereum is diminishing, as spot Ethereum ETFs are witnessing considerable outflows, notwithstanding the recent price rebound following the Federal Reserve’s interest rate reductions. Grayscale’s Ethereum ETF has experienced the most substantial decrease, with outflows totaling $80.6 million, signifying diminished interest from institutional investors. Bitcoin ETFs have experienced inflows, signifying a preference for Bitcoin over Ethereum among investors. Notwithstanding a 15% resurgence in Ethereum’s price, the demand for

Bitcoin ETFs inflow hits $150 million amid price rebound

September 22, 2024 1 min read

The price of Bitcoin fell to a daily low of around $62,580 after temporarily attaining $64,000 earlier this month. The present price indicates a significant rebound from its decline to below $53,000 earlier this month. As of September 22, Bitcoin had increased by 7.5% in the preceding week and 3.2% in the prior 30 days. The favorable price trajectory of Bitcoin aligns with a substantial influx into spot Bitcoin exchange-traded

Coinbase is launching its wrapped Bitcoin product

September 22, 2024 1 min read

Coinbase intends to launch its wrapped Bitcoin product, cbBTC, on the Solana blockchain to enhance Bitcoin accessibility for customers. The declaration was issued by Hassan Ahmed, Coinbase’s Country Director for Singapore, during the Solana Breakpoint conference on September 21. cbBTC, collateralized 1:1 by Coinbase’s Bitcoin reserves, is intended for programmable blockchains such as Base and Ethereum. Notwithstanding its success, cbBTC remains subordinate to BitGo’s WBTC, which commands 96.6% of the

Donald Trump becomes the first US president to use Bitcoin for a purchase

September 19, 2024 1 min read

Former US President Donald Trump has executed the inaugural acquisition of burgers utilizing Bitcoin, signifying a notable change in his perspective on crypto. The transaction occurred at PubKey, a Bitcoin-accepting pub in Greenwich Village, New York, and was facilitated by the Strike app, a payment platform utilizing Bitcoin’s Layer-2 Lightning Network. Thomas Pacchia, co-owner of the bar, saw Trump’s acquisition as a “coming of age” moment for Bitcoin, underscoring its

Revolut is advancing plans to launch its own stablecoin

September 19, 2024 2 mins read

Revolut, a prominent fintech firm headquartered in London, is allegedly developing its own stablecoin. The company, having just acquired a U.K. banking license, intends to broaden its crypto services and position itself as a secure and compliant center for the crypto community. Revolut is prioritizing a compliance-centric strategy to attain this objective. Stablecoins, cryptocurrencies linked to conventional assets such as fiat currencies, have proven exceedingly lucrative owing to their investment