Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

KuCoin Resolves Lawsuit with $22 Million Settlement: Ceases Operations in New York

January 3, 2024 2 mins read

KuCoin crypto exchange has reached a $22 million settlement to resolve a lawsuit filed by the state of New York against it. The settlement also includes KuCoin ceasing its trading activities in New York, indicating a significant agreement to address legal concerns. According to the terms of the agreement, KuCoin will refund a total of $16.7 million to approximately 177,800 New York investors. In addition, the cryptocurrency exchange will pay

Levana Protocol Faces $1.1 Million Attack on Osmosis Blockchain

December 29, 2023 1 min read

Levana, a perpetual swap protocol that runs on the Osmosis blockchain, recently suffered an unauthorized attack that resulted in the loss of over $1.1 million from its liquidity pools. The exploit took place over 13 days, causing the protocol to lose 10% of its liquidity. Investigations into the incident revealed several factors that contributed to the tragic outcome. Congestion hit the Osmosis blockchain, severely limiting user interactions within the market.

MEXC Exchange is accused of freezing accounts and seizing funds amid abnormal trading claims

December 27, 2023 2 mins read

MEXC, a well-known crypto exchange, has found itself at the center of controversy after users complained about alleged account freezing and fund seizures. Concerns raised by multiple users since mid-December have been highlighted in reports circulating on social media platforms, particularly on X. A pseudonymous trader revealed a significant loss of $92,000 in Tether tokens, which drew attention to the situation. The trader claimed to have lost money after making

HTX Exchange Ventures Invests in Academic Labs to Drive Web3 Education Transformation

December 22, 2023 2 mins read

HTX Ventures, the global investment arm of the HTX crypto exchange, has invested in Academic Labs, a Web3 education platform. Through its token and NFT systems, the investment aims to enable Academic Labs to expand its offerings, providing more introduction opportunities to new Web3 users and improving educational engagement among existing users. Academic Labs uses AI and Web3 technologies to enhance the educational experience, providing courses on essential skills such

Crypto Firms Roll Out Exciting Ads in Anticipation of Bitcoin ETF Approval

December 21, 2023 2 mins read

As the crypto community eagerly awaits the SEC’s decision on Bitcoin Spot ETFs, two major companies, Bitwise and Hashdex, have taken the initiative to stir up excitement with their recent ad campaigns. Bitwise Takes the Lead Bitwise, a prominent player in the crypto space, made the first move by releasing an engaging ad featuring Jonathan Goldsmith, widely recognized as the “Most Interesting Man in the World.” In the ad, Goldsmith

SHIB Token Surges with $110 Million in Massive 24-Hour Transactions

December 19, 2023 1 min read

According to the on-chain analytics platform IntoTheBlock, the Shiba Inu (SHIB) meme coin has experienced an extraordinary surge in large transactions, reaching a staggering $110.53 million in the last 24 hours. This increase of 275% equates to an astounding 7.22 trillion SHIB tokens changing hands. This surge comes at a time when the Shiba Inu token’s price has dropped by more than 11% in the last day, from $0.00001195 to

Revolut to Halt Crypto Purchases for UK Business Clients in 2024 Amid FCA Regulations

December 19, 2023 1 min read

Revolut, a popular fintech platform, plans to end crypto purchases for its UK business clients in 2024. The move is in response to the Financial Conduct Authority’s (FCA) new investor protection regulations. While business clients will still be able to hold and sell existing cryptocurrency holdings, their ability to acquire additional digital assets will be limited. This change is part of Revolut’s strategy to stay current with the regulatory landscape.

Solana’s Bonk Rockets 130% on Binance, Now Among Top 50 Crypto

December 16, 2023 1 min read

Bonk, Solana’s leading meme coin, has experienced a remarkable 130% increase in value within a week of being listed on Binance. The coin, created by an anonymous team, has now achieved a market value of $2 billion, propelling it into the top 50 cryptos. Binance initiated trading for Bonk across various pairs. However, it issued a cautionary note about the coin’s high volatility, emphasizing its status as a meme coin

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.