Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

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

Blockchain investigator ZachXBT accuses USDC issuer Circle of ‘profiting’ North Korea hackers’ group

September 15, 2024 1 min read

Blockchain investigator ZachXBT has accused USDC issuer Circle of benefiting from transactions tied to the North Korean hacking group Lazarus. The claims are serious, as Circle took 4.5 months to ban assets related to the Lazarus Group, compared to other major stablecoin issuers. ZachXBT also chastised Circle for failing to take measures to prevent the gang from laundering money through their platform. The USDT issuer and other stablecoin issuers blacklisted

NFT market sales decline to $74.86M

September 15, 2024 1 min read

The NFT market saw a 7.91% drop in sales last week, with Ethereum leading the way with $27.25 million. Bitcoin followed with $14.89 million, a 31.01% rise, while Solana came in third with $12.47 million. Cryptopunks topped the charts with $5.39 million in sales, an increase of 9.45%. Bitcoin BRC20 NFTs surged 475%, reaching $3.45 million. Immutable X’s Guild of Guardians (GoG) finished third with $3.28 million. Sorare on Ether

Bitcoin ETFs see $1.2 billion outflow in just eight days as Bitcoin’s price drops over 18%

September 11, 2024 1 min read

Bitcoin ETFs in the US have undergone a notable decrease, with net outflows amounting to $1.2 billion in the last eight days. This signifies the most extended duration of uninterrupted withdrawals since their inception in early 2024. From late August to early September, investors withdrew substantial amounts from the 12 spot Bitcoin ETFs available on US marketplaces. This withdrawal aligns with a wider reduction in Bitcoin values, which has experienced

Bitcoin (BTC) long-term investors withdraw $728 million from crypto exchanges

September 9, 2024 1 min read

The recent decline in Bitcoin’s price has raised apprehension among short-term traders, whilst long-term holders are capitalizing on the dip. On-chain data indicates a significant increase in accumulation activity, with more than $728 million in Bitcoin taken from exchanges in the past week. IntoTheBlock, a cryptocurrency analytics tool, indicates that long-term holders are acquiring additional Bitcoin during this price decline, with $728 million worth of Bitcoin withdrawn from crypto exchanges

Solana (SOL) loses 12% of its value in the last seven days

September 5, 2024 1 min read

Crypto Kaleo, a prominent crypto expert, forecasts that Solana (SOL) may experience a further decline to $120. This decline could perhaps serve as a foundation for a more robust upward movement, allowing for consolidation before trying to reach new record levels. The expert accurately forecasted a decline in the price of Solana on August 27, and within three days, it dropped to $130. Today, the analyst reported that the value

21Shares’ parent company unveils Ethereum-based wrapped Bitcoin

September 3, 2024 1 min read

21.co, the parent firm of 21Shares, has launched its Wrapped Bitcoin product (21BTC) on the Ethereum blockchain in collaboration with Flow Traders. The product’s objective is to offer users a sense of security while they navigate decentralized applications and explore new possibilities on the Ethereum blockchain. 21BTC use cold storage to safely hold the underlying assets, hence avoiding the necessity for a bridge. The token is collateralized by BTC and

The SEC has issued a warning about FTX’s plans to use stablecoins and other crypto assets

September 2, 2024 1 min read

The US Securities and Exchange Commission (SEC) has warned FTX exchange about its strategy for repaying creditors, suggesting a possible objection to using stablecoins or other crypto assets. The SEC’s filing to the Delaware Bankruptcy Court highlights issues with FTX’s proposed use of stablecoins, particularly if they involve cryptocurrency assets. The agency has reserved the right to contest their use, particularly if they involve cryptocurrency assets. The SEC has also

TRON’s (TRX) market cap grows to over $14 billion

August 29, 2024 1 min read

Toncoin (TON) is in danger of being excluded from the top 10 crypto assets as a result of the increasing prominence of TRON (TRX). During the previous three days, TON’s market capitalization has declined to less than $13 billion, while TRON’s has increased to almost $14 billion. TON’s price has experienced a decline of 18% over the past 30 days, hitting a minimum of $5.11 on Tuesday. The price of

A Nasdaq-listed company purchases an additional 83 BTC, valued at $5 million

August 27, 2024 2 mins read

Semler Scientific, a firm listed on the Nasdaq stock exchange, has augmented its Bitcoin reserves by acquiring an extra 83 BTC, with a market worth of $5 million. The acquisition has increased the company’s Bitcoin reserves to a total of 1,012 BTC, which were purchased at a cost of $68 million. This decision exemplifies an increasing pattern among enterprises to incorporate Bitcoin into their financial reserves, emulating the actions of

Ethereum co-founder Vitalik Buterin warns of growing threats to privacy and freedom

August 26, 2024 1 min read

Vitalik Buterin, the co-founders of Ethereum, has expressed worries on the emergence of potential dangers that could jeopardize technological liberties and fundamental principles of cryptocurrencies. He highlighted the escalating political scrutiny faced by encrypted messaging services, centralized identity systems, vulnerable operating systems, and the expanding authority of influential social media platforms and governments to suppress and exclude individuals globally. The increasing political scrutiny on encrypted messaging platforms is a fundamental

Mango Markets DAO proposes a $224 settlement with the SEC

August 22, 2024 1 min read

Mango Markets, a decentralized exchange (DEX) on Solana, is set to pay a $223,228 penalty to the SEC as part of a settlement proposal to avoid further legal issues. The proposal includes halting all sales of MNGO tokens, destroying the DAO’s remaining MNGO holdings, and requesting the removal of MNGO from all crypto exchanges and platforms where it is currently traded. The governance proposal is expected to pass unanimously, with