Browsing:Market

Kraken crypto exchange saw a net outflow of 225,000 Bitcoin (BTC)
11 months ago 1 min read

$225 Million Worth of Bitcoin Withdrawn from Kraken, Marking Second-Largest Outflow

Kraken, one of the world’s largest cryptocurrency exchanges, saw a massive outflow of Bitcoin on June 22, 2023. According to data from the on-chain analytics platform Glassnode, the exchange saw a net outflow worth an estimated $225 million. This is the second-largest Bitcoin outflow in Kraken’s history, only surpassed by an outflow of 240,000 BTC in December 2017. The outflow comes at a time when the cryptocurrency market is facing increased volatility, with Bitcoin prices falling below $30,000. It is unclear why investors are withdrawing Bitcoin from Kraken. Some analysts believe that the outflow could be due to concerns about

Neutron cross-chain smart contract platform has raised $10 million
11 months ago 2 mins read

Binance Labs and CoinFund Lead $10M Funding Round for Neutron

Neutron, a cross-chain smart contract platform focused on interchain security within the Cosmos ecosystem, has raised $10 million in a funding round led by Binance Labs and CoinFund. Other notable participants in the funding round include Delphi Ventures, LongHash, and Nomad. The funding will be used to advance the development and growth of Neutron’s blockchain software and support the expansion of its ecosystem. Binance expressed its intention to create an environment that attracts a wider community of developers and projects, with the goal of fostering innovation, security, and user-friendly decentralized applications (DApps). Yibo Ling, Binance’s Chief Business Officer, emphasized the

Ripple Secures Regulatory Clearance in Singapore
11 months ago 2 mins read

Ripple Receives Initial Regulatory Approval in Singapore, Expanding its Footprint in APAC

Ripple, a leading provider of enterprise blockchain and cryptocurrency solutions, has received in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services and products in Singapore. This regulatory approval enables Ripple to expand the utilization of its On-Demand Liquidity (ODL) service, which relies on cryptocurrency. The ODL service offered by Ripple, which employs XRP as a bridge currency, has experienced remarkable growth worldwide throughout 2022. Singapore, acting as Ripple’s Asia-Pacific headquarters, played a vital role in facilitating this expansion. Notably, Singapore facilitated the majority of global ODL transactions in 2022. In response to this surge

A Russian citizen has been detained and charged with treason for allegedly sending crypto to Ukraine's Armed Forces.
11 months ago 1 min read

Russian Citizen Faces Treason Charges for Sending Crypto to Ukrainian Army

A Russian citizen from the Far Eastern region of Khabarovsk Krai has been detained and charged with treason for allegedly sending cryptocurrency to Ukraine’s Armed Forces. The individual’s arrest was carried out by the FSB, Russia’s secret service, and they are now set to face trial on grave charges. The FSB stated that the individual made cryptocurrency donations through a foreign charitable foundation, utilizing third parties residing in Ukraine. The funds were reportedly intended for the acquisition of various military resources, including unmanned thermal imaging sights, aircraft, ammunition, and medical uniforms for the Ukrainian Armed Forces. The recent amendments to

FTX is facing mounting legal and advisory expenses as it navigates its bankruptcy proceedings.
11 months ago 2 mins read

FTX’s Bankruptcy Expenses Surge: Legal and Advisory Fees Reach $121.8 Million

The defunct cryptocurrency exchange FTX is facing mounting legal and advisory expenses as it navigates its bankruptcy proceedings. Recent data reveals that between February 1 and April 30, FTX incurred a staggering $121.8 million in advisory fees and costs. Notably, legal representation from Sullivan & Cromwell accounted for a significant portion of these expenses, totaling $37.6 million. In comparison, investment banking firm Jeffries billed the smallest amount, representing a mere 0.6% of the total costs. As FTX grapples with its financial troubles, former clients are exploring options to revive the exchange under new leadership, aiming to provide value to its

hackers managed to conceal their stolen funds worth $35 million using the cross-chain liquidity protocol THORChain.
11 months ago 2 mins read

How Atomic Wallet Hackers Leveraged THORChain to Hide $35 Million Theft

In a recent heist that targeted the popular crypto wallet Atomic Wallet, hackers managed to conceal their stolen funds worth $35 million using the cross-chain liquidity protocol THORChain. Blockchain sleuth MistTrack has shed light on the incident, revealing that approximately $870,000 worth of ether (ETH) was transferred to THORChain before being exchanged for bitcoin (BTC). Additionally, some of the stolen ether was routed to multiple Bitcoin addresses via the Swft blockchain. Notably, the hackers also attempted to move a portion of the stolen funds to the crypto exchange Garantex, which has previously faced sanctions from the U.S. Treasury’s Office of

Mastercard has filed a trademark application for a range of tools designed to simplify crypto transactions.
11 months ago 2 mins read

Mastercard Files Trademark Application for Crypto and Blockchain Tools

Mastercard, one of the world’s leading payments companies, has been making significant moves in the world of cryptocurrencies and blockchain technology. In a notable development, the company has filed a trademark application for a range of tools designed to simplify crypto transactions. This article explores Mastercard’s strategic initiatives, including their plans to create a network connecting virtual asset service providers (VASPs) and their commitment to staying ahead in the evolving cryptocurrency landscape. Reports have confirmed that Mastercard has filed a trademark application to develop tools related to cryptocurrencies and blockchain technology. Patent attorney Mike Kondoudis has revealed that the company

Binance has announced the integration of the Lightning network on the Bitcoin network
11 months ago 2 mins read

Binance Implements Bitcoin Lightning Nodes for Effortless Deposits and Withdrawals

Leading cryptocurrency exchange Binance has announced the integration of the Lightning network on the Bitcoin network, paving the way for Lightning-based Bitcoin deposit and withdrawal services. The move is aimed at enhancing transaction speeds and alleviating network congestion for Binance users. The Lightning network is a second-layer solution for the Bitcoin blockchain that addresses the scalability challenges faced by Bitcoin by establishing payment channels that facilitate off-chain transactions between users. By conducting transactions off-chain, the Lightning network significantly reduces congestion on the main blockchain, resulting in faster transaction speeds and lower fees. With the integration of the Lightning Network, Binance

The UK Parliament has passed the Financial Services and Markets Bill
11 months ago 2 mins read

UK House of Lords Passes Bill Recognizing Crypto as a Regulated Activity

The UK Parliament has passed the Financial Services and Markets Bill, a piece of legislation that will regulate crypto-assets and their providers. The bill, which was first introduced in July 2022, was passed by the House of Lords on June 16, 2023. It now moves to the Queen for royal assent, which is expected to take place shortly. The Financial Services and Markets Bill is a significant development for the cryptocurrency industry. It is the first time that the UK government has taken steps to regulate crypto-assets. The bill will require firms that offer crypto-asset services to be authorized by

do-kwon founder of Terra Luna
11 months ago 1 min read

Do Kwon Sentenced to 4 Months in Jail for Document Forgery

Do Kwon, the founder of Terraform Labs, has been sentenced to four months in jail by a Montenegro court for his involvement in a document forgery case. The verdict, announced on Monday by a Basic Court in Podgorica, also confirmed the confiscation of several falsified passports and identity cards. Details of the Case Kwon and Han were detained in Montenegro on charges of possessing forged documents. The court’s verdict included the seizure of two Costa Rican passports, two Belgian passports, and two identity cards linked to the accused individuals. The four-month sentence takes into account the time already spent in

SUI crypto is a project that has garnered recent attention in the crypto market
11 months ago 2 mins read

SUI Price Prediction: Limited Supply and Upcoming Coin Releases Could Lead to a Price Pump

SUI is a project that has garnered recent attention in the crypto market, presenting an intriguing case for technical analysis. In this article, we will delve into the potential future movements of SUI and analyze key factors that may impact its price. From the limited supply dynamics to upcoming coin releases, we’ll explore the possibilities and highlight significant resistance levels that could influence a price pump. Read on to gain insights into the potential future of SUI. Limited Supply Dynamics and Influence on Price One notable aspect of SUI is its limited supply, with only 6% of the maximum possible

Matter Labs' zkSync Era recently reached a major milestone
11 months ago 2 mins read

zkSync Era Surpasses $500 Million in TVL

Matter Labs’ zkSync Era, a zero-knowledge (ZK) rollup solution designed to enhance Ethereum’s scalability, continues to attract significant capital. The platform recently reached a major milestone, with its total value locked (TVL) surpassing $500 million. This achievement reflects a remarkable 12% increase in just one week, according to data from L2Beat, a leading source of information on layer 2 scaling solutions. As zkSync Era gains momentum, it solidifies its position as the third-largest rollup platform, trailing only Arbitrum and Optimism in terms of total value locked. Rapid Growth of zkSync Era With Ethereum Virtual Machine (EVM) compatibility and native account