Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

Over $400,000 stolen from OKX DEX in a security breach

December 13, 2023 1 min read

According to reports by blockchain security firm SlowMist, OKX DEX, a decentralized exchange aggregator, was the victim of a security breach that resulted in the theft of over $400,000 in crypto. The exploit was traced back to compromised management rights of a market maker contract, which allowed unauthorized token transfers. OKX DEX is known for aggregating trading prices from various decentralized exchanges (DEXes) and displaying the best available prices to

Ultra to Launch First Resalable Tokenized PC Game: Josh Journey

December 13, 2023 1 min read

Ultra, a PC marketplace catering to both blockchain and traditional “Web2” video games, is set to introduce a groundbreaking feature—launching the first digital PC game that can be resold to other users via a tokenized license. The feature will debut with the game “Josh Journey: Darkness Totems,” a beat-’em-up title developed by Provincia Studio. Notably, this move aligns with Ultra’s commitment to creating a platform where users can legally resell

Solana (SOL) drops by over 2.5%, trading at $69.68

December 11, 2023 1 min read

Anatoly Yakovenko, the co-founder of Solana, took a moment to reflect on the six-year journey that led to the establishment of Solana (SOL), a crypto project currently valued at more than $30 billion, in a recent Twitter post. Yakovenko discussed the difficulties encountered during the early stages of fundraising and development for Solana. Yakovenko’s Twitter post marks the sixth anniversary of his fundraising efforts for Solana, which began on December

BlackRock warns the US SEC about Bitcoin’s potential classification as a security

December 11, 2023 1 min read

BlackRock, the world’s largest asset manager, has issued a warning to the US Securities and Exchange Commission (SEC) about Bitcoin’s potential classification as a security. The asset manager emphasized the potential consequences, stating that such a classification could make trading and handling Bitcoin in the United States difficult. BlackRock is concerned about the potential negative impact on Bitcoin’s trading value if it is classified as a security by the SEC.

Jack Dorsey’s Block Unveils Bitkey: A Self-Custody Bitcoin Wallet for Global Users

December 8, 2023 2 mins read

A team led by Block founder Jack Dorsey has launched a new self-custody Bitcoin wallet called ‘Bitkey.’ This innovative wallet will be available in over 95 countries, providing users with a safe and simple way to manage their Bitcoin holdings. Bitkey can be accessed via a smartphone app or hardware storage, providing crypto enthusiasts with a flexible and accessible experience. The highlight of Bitkey is its two-of-three multi-signature wallet, which

Binance Quietly Discussed $4 Billion Settlement with VIPs Months Before Public Announcement

December 2, 2023 1 min read

According to an exclusive report, Binance privately disclosed details of its $4 billion settlement with the DOJ during a dinner for major market makers held in a Singapore nightclub. Surprisingly, this discussion took place several months before the settlement amount was made public. According to Bloomberg, attendees at the dinner inferred that Binance was able to cover the $4 billion settlement. Notably, the former CEO, Changpeng Zhao, did not attend

The United Kingdom wants taxpayers to “voluntarily” disclose any unpaid tax on various digital assets

November 30, 2023 2 mins read

HM Revenue and Customs (HMRC) in the United Kingdom has announced a new system that will allow taxpayers to “voluntarily” disclose any unpaid tax on various digital assets. This action is part of the government’s broader strategy to improve oversight of the emerging asset class, which includes cryptocurrencies. This initiative, which was announced on November 29, 2023, covers a wide range of crypto assets, including exchange tokens like Bitcoin, non-fungible

FTX Debtors Granted Approval to Liquidate Assets, Including Grayscale Holdings, by Bankruptcy Court

November 30, 2023 1 min read

A Delaware bankruptcy court has approved the sale of trust assets worth $744 million, including holdings in Grayscale and Bitwise funds, by FTX Trading and its associated debtors. The decision was made on Wednesday by Judge John Dorsey in response to a motion filed in November seeking permission to liquidate units in six cryptocurrency funds. Grayscale Bitcoin Trust, Grayscale Ethereum Trust, Bitwise 10 Crypto Index Fund, Grayscale Ethereum Classic Trust,

FTX founder Sam Bankman-Fried Denied Bail

November 25, 2023 1 min read

The former CEO of FTX, Sam Bankman-Fried (SBF), faces continued detention as the court rejects his recent bail request, compelling him to await sentencing and a potential appeal. In a mandate dated November 21, the Appellate Court upheld the decision to revoke SBF’s bail, referencing earlier findings in September that affirmed witness tampering allegations. The previous appeal in September saw Circuit Judges supporting Judge Kaplan’s ruling that SBF attempted to

Dutch Crypto Exchange Expands into the French Market

November 24, 2023 1 min read

The Dutch crypto exchange Bitvavo has received approval from France’s financial regulator, the AMF, signaling its entry into the French market. This move follows recent forays into Austria and Italy, with plans to expand further into the European market. Bitvavo CEO Mark Nuvelstijn expressed excitement about providing cryptocurrency services to French users. He emphasized the growing interest of French adults in crypto investments, which aligns with Bitvavo’s strategic expansion goals.

Australian authorities increase their crypto warnings in response to growing market concerns

November 24, 2023 1 min read

The Australian Securities and Investments Commission (ASIC) has issued stern warnings about the risks of crypto, signaling a tightening regulatory environment for major exchanges such as Binance. ASIC Chair Joseph Longo expressed concern about the difficulties of regulating the crypto space, citing an increase in crypto-related scams. Australia is preparing to implement new crypto regulations by 2024, with a focus on licensing and custody requirements for crypto exchanges. These laws,

Binance Faces $4 Billion Settlement Demand from U.S. DOJ Amid Ongoing Probe

November 21, 2023 1 min read

According to people familiar with the situation, the U.S. Department of Justice (DOJ) is allegedly looking to settle an ongoing investigation with Binance Holdings for a sizeable sum of money—more than $4 billion. The long-running investigation’s conclusion could have a big influence on investors’ perceptions of the crypto market. For Binance and the larger cryptocurrency market, the possible settlement comes at a crucial moment. The industry was disrupted last year