Crypto News

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

Germany shuts down 47 crypto exchanges for their role in facilitating criminal activities

September 22, 2024 1 min read

German authorities have closed 47 crypto exchanges for their involvement in assisting criminal acts, as stated in a joint announcement from the Central Office for Combating Internet Crime (ZIT) and the Federal Criminal Police Office (BKA). The exchanges were suspended following authorities’ determination of their involvement in money laundering activities. The authorities assert that the platforms facilitated anonymous crypto and other digital asset exchanges, obscuring the origins of criminal cash.

The Ethereum Foundation sells a total of 950 ETH worth over $2.2 million in the past three weeks

September 21, 2024 1 min read

The Ethereum Foundation has sold 300 ETH worth over $760,000, a 5% increase from intraday lows of $2,440. The foundation has been selling Ether every four to seven days, with a total of 950 ETH sold since September, totaling over $2.2 million. The foundation has previously sold 1,000 ETH for over $3 million in May 2024, with year-to-date totals reaching 1,766 ETH sold for over $4.8 million. The latest dump

Chainlink faces tough resistance and weakening momentum, raising doubts

September 21, 2024 1 min read

Chainlink (LINK) is seeing a large amount of opposition and is having a difficult time gaining pace. The rising trend of the crypto looks to be feeble, which raises worries about its potential for further expansion. This is despite the fact that it has recently gained. Chainlink needs to break past a crucial barrier and maintain higher levels in order to see returns. This demands a stronger bullish feeling on

Bitcoin and Ethereum brace for volatility as $1.6 billion in options expire

September 21, 2024 1 min read

The cryptocurrency market is set to experience increased volatility today as around $1.6 billion in Bitcoin and Ethereum options expire. The Federal Reserve’s recent interest rate cut has led to a rise in demand for these cryptos. Deribit estimates that over 20,000 Bitcoin options contracts worth $1.26 billion are about to expire, with a put-to-call ratio of 0.85 and a maximum pain point of $58,500. Meanwhile, 125,046 Ethereum contracts worth

BingX suffers a $42 million hack, adding to a series of crypto security breaches this week

September 21, 2024 1 min read

BingX, a prominent crypto exchange, has suffered a $42 million attack, leading to the theft of more than 360 cryptocurrencies, which were subsequently exchanged for Ethereum and Binance Coin. The breach was initially identified by the blockchain security company PeckShield. The total misappropriated assets comprised stablecoins such as USDT, USDC, WUSD, Bitcoin, and several other tokens. Vivien Lin, Chief Product Officer of BingX, confirmed the breach and assured users that

A Shiba Inu whale who once made $145 million has now lost over $13.5 million

September 20, 2024 1 min read

A well-known Shiba Inu (SHIB) whale, who gained $145 million from trading SHIB in 2021, is now facing significant losses following a series of high-risk bets. On September 18, Spot On Chain revealed that the whale traded 1,003 ETH (worth $2.31 million) for 2.86 billion NEIRO tokens, owing to NEIRO’s recent increase. However, two of the whale’s recent trades, including one NEIRO swap and a SHIB trade, resulted in a

TON blockchain daily active addresses surge by over 3,435% in 2024

September 20, 2024 1 min read

In 2024, the Open Network (TON) blockchain has experienced a substantial rise in on-chain indicators, including trade volume, total value locked, active users, and daily transactions. Artemis data indicates a 760% year-to-date increase in the daily average trading volume on TON’s decentralized exchanges (DEX). The number of daily active addresses on TON increased from 26,274 in January to 902,737 in September, while daily transactions surged 12-fold from 232,286 in January

Tether announces its $1.5 million strategic investment in Sorted Wallet on Sept 19

September 19, 2024 1 min read

Tether has allocated $1.5 million to Sorted Wallet, a crypto wallet technology designed to enhance crypto adoption in underdeveloped regions. The investment reflects Tether’s dedication to improving financial inclusion and economic empowerment in marginalized areas. The platform seeks to incorporate individuals with basic mobile phones into the cryptocurrency domain, facilitating their integration into the digital asset ecosystem within the financial sector. This is especially significant for the unbanked in emerging

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

Former SEC executives will testify in a congressional crypto hearing

September 18, 2024 1 min read

On September 18, 2024, a congressional hearing will include former senior officials of the United States Securities and Exchange Commission (SEC) who are scheduled to provide testimony against the agency. The hearing, entitled “Dazed and Confused: Analyzing the SEC’s Politicized Approach to Digital Assets,” will examine the SEC’s contentious rules on crypto under Chair Gary Gensler. Prominent witnesses comprise Dan Gallagher, a former SEC commissioner currently functioning as Chief Legal

Bitcoin is trading above $60,000 as traders await announcements from the FOMC

September 18, 2024 1 min read

Bitcoin (BTC) remained above $60,000 early Wednesday, after a brief decline below this threshold during late U.S. hours. Traders anticipate that U.S. Federal Open Market Committee (FOMC) chair Jerome Powell will announce interest rate reductions during the upcoming meeting. BTC was trading at slightly above $60,300 at the time of reporting, reflecting an increase of nearly 4% in the last 24 hours, so extending weekly gains to over 7%. Prominent