Browsing:Market News

Whale Alert announced large transactions involving tens of thousands of BTC worth more than $856 million
1 year ago 1 min read

Whale Alert: Over $850M Worth of Bitcoin Moved in One Day

According to blockchain monitoring service Whale Alert, large transactions involving tens of thousands of BTC worth more than $856 million took place in just 24 hours. These transfers involved moving BTC between wallets of unknown origin and centralized crypto exchanges. One of the most substantial transactions involved a crypto whale shifting 9,819 BTC worth nearly $300 million from an unknown wallet to another unknown wallet. The cost of moving such a large amount of Bitcoin? Less than $8. In another transaction, a deep-pocketed entity sent 5,503 BTC worth over $165 million between wallets of unknown origin, paying around $10 for

Binance Users Face Weeks-Long Delays for ETH Withdrawals After Shapella Downtime
1 year ago 1 min read

Binance Announces Delayed ETH Withdrawal Requests Following Shapella Upgrade

On April 13th, cryptocurrency exchange Binance revealed that Ethereum (ETH) withdrawal requests may take several weeks to process. This announcement was made just a day after the Shapella upgrade went live on the Ethereum mainnet. The Shapella upgrade is one of the most highly-anticipated events in the crypto space for 2023. It enables ETH validators to withdraw their locked funds. However, Binance stated its need to set a daily redemption quota for each user due to the Ethereum network’s processing limitations. Binance, the world’s largest crypto exchange by trading volume, announced that its users will be able to redeem their

U.S. Congress draft bill on stablecoins set to impact crypto market
1 year ago 1 min read

U.S. Lawmakers to propose new rules for stablecoins

The US House of Representatives has released a new draft bill aimed at establishing a regulatory framework for stablecoins, just ahead of a hearing on the topic scheduled for April 19. The proposed legislation would place non-bank stablecoin issuers under the supervision of the Federal Reserve, with insured depository institutions seeking to issue stablecoins being overseen by the appropriate Federal banking agency. Failure to register could result in a $1 million fine and up to five years in prison. Among the approval criteria is the ability of the applicant to maintain reserves backed by US dollars or Federal Reserve notes,

The recent Kaspersky report highlights the increasing trend of crypto phishing attacks that surged by 40% in just one year.
1 year ago 1 min read

New Kaspersky Report Unveils 40% Surge in Crypto Phishing Attacks within 12 Months

As the cryptocurrency market continues to grow, so does the risk of cyber threats targeting digital asset investors and users. The recent Kaspersky report highlights the increasing trend of crypto phishing attacks that surged by 40% in just one year. The report reveals that cybercriminals are becoming more creative and sophisticated in their tactics to carry out these attacks. They create fake cryptocurrency exchange websites and send phishing emails and messages that trick users into disclosing their private keys and other sensitive information. Phishing attacks are a prevalent form of cyber exploit where an attacker poses as a legitimate entity,

U.S. SEC commissioner Hester Peirce has voiced her concerns over the regulator's new rules
1 year ago 1 min read

SEC Commissioner Hester Peirce Criticizes Exchange Act as a Threat to Free Speech

U.S. Securities and Exchange Commission (SEC) commissioner Hester Peirce has voiced her concerns over the regulator’s new rules to amend the definition of “exchange”. In her statement on April 14, Peirce criticized the SEC’s proposal and current leadership, accusing the commission of “aggressively expanding its regulatory reach to solve problems that do not exist.” Peirce noted that the proposal seeks to embrace stagnation, force centralization, urge expatriation, and welcome the extinction of new technology. The SEC recently reopened the comment period for amendments to Exchange Act Rule 3b-16 Regarding the Definition of “Exchange” after several crypto firms questioned the proposed

US House of Representatives is continuing to press SEC
1 year ago 1 min read

Financial Services Chair McHenry Continues Investigation into SBF Arrest with Second SEC Request

The leadership of the United States House of Representatives Financial Services Committee is continuing to press Securities and Exchange Commission (SEC) Chairman Gary Gensler for records related to the arrest of former FTX CEO Sam Bankman-Fried. Committee chair Patrick McHenry and Oversight and Investigations Subcommittee chair Rep. Bill Huizenga sent a sharply worded letter to Gensler on Feb. 10, demanding records and communications between and among both the SEC’s Division of Enforcement, the Office of the Chair, and the Department of Justice (DOJ). Bankman-Fried was scheduled to appear before the Financial Services Committee, but his arrest prevented him from testifying.

Revault Network Bought Out by Mati Greenspan’s Quantum Economics
1 year ago 1 min read

Mati Greenspan’s Quantum Economics Secures Revault Network Acquisition

On April 13, Mati Greenspan’s Quantum Economics announced its acquisition of Revault Network, a decentralized finance (DeFi) platform that allows users to find the highest-return vaults without the need to choose where to deposit their funds. The acquisition includes assets and intellectual property from the Revault Foundation and its subsidiaries, as well as the transfer of Revault founders’ tokens to Quantum Economics’ own DeFi project, Layered Cake Protocol. Despite the acquisition, Revault Network’s DAO will continue to operate and vote on development decisions. This marks the first time an Israel-based company has purchased a DAO. Revault Network’s REVA token will

Bitcoin Miners in Sweden Reeling as Government Implements Tax Hike
1 year ago 1 min read

Swedish Bitcoin Miners Forced Out of Business as Government Implements Tax Increase

Sweden is set to end tax incentives for data centers in July, signaling potential doom for the country’s bitcoin mining industry. Once a haven for Bitcoin miners due to the availability of cheap hydroelectricity and cool climate, Sweden is one of the last regions in Europe where the industry has been profitable. However, spiking energy prices driven by the Ukraine war had already forced some miners to turn off their operations partly in 2022, even in these northernmost parts of Europe. With energy prices having stabilized in 2023, a tax hike on the energy use of SEK 0.36 ($0.035) per

Consensys said 7,000 MetaMask users had their private information compromised between August 2021 and February 2023.
1 year ago 1 min read

Consensys Reports Security Breach: 7,000 MetaMask Users Affected

Consensys, a blockchain software firm, has revealed that the personal data of thousands of MetaMask users who had contacted customer support over an 18-month period was breached. According to the company, an estimated 7,000 individuals had their private information compromised between August 2021 and February 2023. The information breached includes email addresses and limited personal information needed to identify customers for support needs. It is important to note that MetaMask’s browser extension and mobile app users were not impacted by the breach. Consensys disclosed that the fraudsters gained access to a third-party service provider that MetaMask uses to create customer

Push Protocol
1 year ago 1 min read

Push Protocol Wallet drops wallet-to-wallet video chatting capability

Push Protocol, a decentralized communication network, has released a wallet-to-wallet video chatting feature on its Web3 messaging platform. The platform launched on the Ethereum network in January 2022 and later expanded to Polygon and the Binance Smart Chain. Push Chat launched in October 2022, enabling users to send messages between wallets. With the addition of the video calling feature, the platform aims to enhance the Web3 experience by allowing users to token-gate or NFT-gate exclusive video calls with influencers or celebrities. It also allows crypto-inclined individuals to transact without relying on peer-to-peer platforms such as Gmail or Zoom. Harsh Rajat,

The US SEC Chair Gary Gensler faces a congressional subpoena threat if the regulator fails to provide info related to Sam Bankman-Fried
1 year ago 2 mins read

Gensler faces backlash from Republicans for lack of Bankman-Fried transparency

The Securities and Exchange Commission (SEC) Chair Gary Gensler faces a congressional subpoena threat from House Republicans if the regulator fails to provide information related to the charges brought against Sam Bankman-Fried, the failed crypto mogul. The Republicans are demanding the staff memo recommending charges for Bankman-Fried, as well as other information related to the charges filed by the agency against him. The congressional probe centers around the timing of Bankman-Fried’s arrest, which occurred the night before he was to testify before the House committee alongside caretaker FTX CEO John Ray III in December. House Financial Services Committee Chair Patrick

Ethereum's surge in price has caused a drop in Bitcoin’s (BTC) dominance rate
1 year ago 1 min read

Ether Surges After Shanghai: Bitcoin’s Dominance Falls From 21-Month Peak

Ether (ETH) has been making waves in the cryptocurrency market recently. After the successful deployment of the long-awaited Shanghai upgrade, ETH’s price rallied above $2,000 late on Wednesday. This surge in price has caused a drop in Bitcoin’s (BTC) dominance rate, which had risen to an almost two-year record high. According to data from TradingView, BTC’s dominance rate rose to as high as 49.06% early on Wednesday, before retreating to 48.12% as ETH’s price continued to rise. This is the first time in over 21 months that BTC’s dominance rate has been around the 49% level. In contrast, ETH’s dominance

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