Market

Ethical hackers working on Immunefi bug bounty were paid $52 million in 2022

December 22, 2022 1 min read

Ethical hackers working on Immunefi, a bug bounty platform focused on cryptocurrency and blockchain apps, were paid over $52 million in 2022 for identifying and reporting security vulnerabilities. This comes as the value of crypto hacks reached over $3 billion in the same year. Immunefi, which is currently the leading platform in the web3 bug bounty space, offers larger rewards than other tech giants due to the higher stakes involved

Elon Musk adds a new feature for Bitcoin (BTC) and Ether (ETH) on Twitter

December 22, 2022 1 min read

Twitter has added a new feature that allows users to search for the prices of Bitcoin (BTC) and Ether (ETH) by typing their names or tickers into the search tab. When users tweet the symbol of a major stock, exchange-traded fund, or cryptocurrency with “$” in front of it, a clickable link will appear that takes them to search results including pricing graphs for those symbols. Users can also search

Sam Bankman-Fried is now in FBI custody

December 22, 2022 1 min read

Caroline Ellison, former CEO of Alameda Research, and Gary Wang, co-founder of FTX, have pleaded guilty to federal charges related to their involvement in a fraud scheme orchestrated by Sam Bankman-Fried, CEO of Alameda Research and founder of FTX. Sam Bankman-Fried is now in FBI custody. Ellison and Wang have also agreed to cooperate with the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in their

Ripple Labs CEO criticizes U.S. SEC Chair Gary Gensler for his meetings with former FTX CEO, calling them “shameful.”

December 21, 2022 1 min read

Ripple Labs CEO Brad Garlinghouse has criticized U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler for his meetings with former FTX CEO Sam Bankman-Fried, calling them “shameful.” In response to an opinion piece by the Wall Street Journal, Garlinghouse questioned how Gensler could have been caught off-guard by the FTX collapse, despite meeting with Bankman-Fried multiple times. The SEC sued Ripple in late 2020 for allegedly selling XRP as

Vitalik Buterin points out some of the successes in the crypto industry in 2022

December 20, 2022 1 min read

Vitalik Buterin, co-founder of Ethereum, has pointed out some of the successes in the cryptocurrency industry in 2022, despite it being a challenging year for the sector. In an interview with Bankless, Buterin mentioned six examples of cryptocurrency networks and entities that have thrived this year, including the Uniswap DEX, the Rai Reflex Index, and Maker’s Dai stablecoin, as well as the Ethereum base layer, the Ethereum Name Service (ENS),

Visa proposes a way for Ethereum users to set up automatic payments from self-custodial wallets

December 20, 2022 1 min read

Visa has proposed a way for Ethereum users to set up automatic payments from self-custodial wallets, according to a blog post published by the company. The proposal involves using a feature called Account Abstraction, which is currently under consideration by Ethereum’s core developers, to enable automatic payments. This would allow users to set up recurring payments for bills, something that is not currently possible with Ethereum due to the inability

Democrats will reportedly return some of the funds received from disgraced FTX founder Sam Bankman-Fried

December 19, 2022 1 min read

Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, has been accused of breaking campaign finance regulations by allegedly claiming that the money he donated to political campaigns was from other people, when in fact it came from his crypto hedge fund, Alameda Research. An important donor during the latest election cycle, Bankman-Fried is said to have given more than $40 million. Because of the allegations, the Democratic National Committee

Binance.US to acquire the assets of the defunct crypto platform, Voyager

December 19, 2022 1 min read

Binance.US has won the bid to acquire the assets of the defunct cryptocurrency platform, Voyager. The bid, worth approximately $1.022 billion, was described as the “highest and best bid” by Voyager, and it aims to return cryptocurrency to customers. Initially, the bid was won by FTX, but the deal fell through following the collapse of the crypto exchange. As part of the deal, Binance.US will make a good faith deposit

Binance CEO and Kevin O’Leary exchange words over their alleged involvement in the company following FTX collapse

December 19, 2022 1 min read

In the wake of the collapse of the FTX cryptocurrency exchange, there has been a heated exchange of words between Binance CEO Changpeng Zhao (CZ) and Canadian investor Kevin O’Leary over their alleged involvement in the company. O’Leary testified at a Congressional hearing on the FTX collapse on December 14, where he claimed that Binance and FTX were in competition and that Binance had intentionally put FTX out of business.

Nigeria to pass a law legalizing the use of bitcoin and other cryptocurrencies

December 19, 2022 1 min read

According to a local Nigerian newspaper, the chairman of the House of Representatives Committee on Capital Market and Institutions of Nigeria, Babangida Ibrahim, has stated that the country is planning to pass a law legalizing the use of bitcoin and other cryptocurrencies. If the proposed amendments to the 2007 Investments and Securities Act are passed, bitcoin will be recognized as legal capital for investment in Nigeria. This would be a

Gemini claims that some of its customers have been targeted in phishing campaigns

December 19, 2022 1 min read

Gemini, a cryptocurrency exchange, has reported that some of its customers have been targeted in phishing campaigns believed to be the result of a third-party vendor. Chinese media outlet Wu Blockchain has reported that up to 5.7 million users were affected, with their email addresses and phone numbers being leaked. However, the company has confirmed that no account information or systems were compromised and that all funds and customer accounts

Kazakhstan to launch its own central digital currency in 2023

December 18, 2022 1 min read

Kazakhstan, the third largest Bitcoin mining hub globally, has concluded that it is feasible to launch its own central bank digital currency (CBDC), known as the digital tenge. The National Bank of Kazakhstan (NBK) made this announcement after completing the second phase of testing. The country’s primary motivation for conducting CBDC studies was to assess its potential for improving financial inclusion, promoting competition and innovation in the payments industry, and