Browsing:Crypto News

The Layer-2 network known as Shibarium has achieved a remarkable feat
18 hours ago 1 min read

Shibarium Achieves Impressive Milestone: Is a Shiba Inu (SHIB) Price Surge on the Horizon?

The Layer-2 network known as Shibarium has achieved a remarkable feat, processing over three million transactions in less than a month. The Shiba Inu team has hinted at upcoming developments that are taking place “behind closed doors.” These developments are expected to further demonstrate Shibarium’s strength and stability in the near future. Shibarium’s Rapid User Adoption Following some initial launch challenges, the network has shown significant improvements in various key metrics. In the first week after the relaunch, the protocol saw engagement from over one million wallets, and this number has now grown to 1.25 million, as per the latest

USDT exchange inflow volume (7-day Moving Average) has reached a one-month
18 hours ago 1 min read

USDT Exchange Inflow Volume Hits 1-Month Low

The on-chain tracking platform Glassnode Alerts has reported a decline in the volume of Tether (USDT) flowing onto cryptocurrency exchanges. According to a recent post, the USDT exchange inflow volume (7-day Moving Average) has reached a one-month low of 18,420,750.594 USDT. This decrease in exchange inflow volume comes after the previous one-month low observed on September 22, 2023, when the USDT exchange inflow volume (7-day MA) dropped to 18,421,739.041 USDT. At the time of reporting, CoinMarketCap indicated that Tether, the leading stablecoin by market capitalization, was maintaining its peg to the U.S. Dollar. USDT’s collective market capitalization was approximately $83.21

The Terra Classic (LUNC) community has taken a step by approving a proposal to halt all processes related to the minting of USTC
3 days ago 1 min read

Terra Classic (LUNC) Community Votes to Cease Minting and Reminting of USTC

The Terra Classic (LUNC) community has taken a significant step by officially approving a proposal to halt all processes related to the minting and reminting of USTC, the stablecoin associated with the project. This decision comes as the community aims to restore the USTC stablecoin’s peg to $1 and breathe new life into the LUNC token. The approved proposal, known as Proposal 11784 “Stop Minting and Reminting of USTC,” marks a crucial moment in Terra Classic’s journey. It opens the door for institutions like Binance, a prominent cryptocurrency exchange, to initiate the burning of USTC tokens. This action is significant

Bybit is exiting the UK market ahead of new crypto marketing rules set to be enforced by the country's financial regulator, the FCA
3 days ago 2 mins read

Bybit Exchange Suspends Operations in the UK After CEO Hints at Exit

Crypto exchange Bybit is exiting the UK market ahead of new cryptocurrency marketing rules set to be enforced by the country’s financial regulator, the Financial Conduct Authority (FCA), next month. The FCA is introducing new rules to make the marketing of crypto products more transparent and accurate, including a cooling-off period for first-time investors. Bybit confirmed its decision to exit the UK market, stating that it chose to embrace the regulation proactively and pause its services in the country. Here are the key dates and actions for UK users: The length of the suspension and whether Bybit will return to

Binance's CZ Files Motion to Dismiss SEC Lawsuit
3 days ago 1 min read

Binance and CEO CZ Zhao File Motion to Dismiss SEC Lawsuit

Binance CEO Changpeng “CZ” Zhao and his cryptocurrency exchange, Binance, are fighting back against the United States Securities and Exchange Commission (SEC) by filing a motion to have the lawsuit dismissed. This legal battle has been ongoing, with Binance feeling the impact on its American branch, Binance.US, which has seen a significant drop in daily trading volumes. In their 60-page motion filed in the United States District Court for the District of Columbia, Binance and CZ argue that the SEC has overstepped its authority in pursuing the lawsuit. They claim that the SEC failed to provide clear regulatory guidance to

Dormant Binance Wallet Activation Causes Ethereum Gas Fees to Soar Over 1,900%
3 days ago 1 min read

Ethereum Gas Fees Surge by Over 1,900% Following Binance Wallet Activation

Cryptocurrency exchange Binance inadvertently sparked a 1,900% surge in Ethereum gas fees following a sudden wave of transactions involving dormant wallets. A report from FXStreet noted that a Binance-affiliated wallet, known as Binance 14, experienced a sudden surge in transactions. This unexpected activity led to a rise in Ethereum gas fees from 15 to nearly 300 Gwei, and P2P transactions jumped from an average of 40 cents to about $10, according to data from Dune Analytics. Data from Etherscan revealed that Binance 14 received Ether from wallets that had been inactive for almost three years. These transfers, which took place

Mt. Gox Postpones Repayment Deadline by One Year
4 days ago 1 min read

Mt. Gox Delays Repayment Deadline for Another Year

Mt. Gox, the once-prominent cryptocurrency exchange, has decided to give its creditors more time by pushing back the repayment deadline. Originally scheduled for October 31, 2023, the new repayment deadline is now set for October 31, 2024. This decision comes after a long and challenging journey for Mt. Gox and its creditors. The exchange suffered a devastating hack in 2014, resulting in the theft of a staggering 850,000 bitcoins (BTC). At today’s prices, this amount is equivalent to nearly $23 billion. While the exchange did manage to recover approximately 20% of the stolen bitcoins following the hack, it left many

Sam Bankman-Fried FTX exchange is gearing up for a crucial pretrial release hearing before the U.S. appeals court.
4 days ago 2 mins read

FTX Founder Sam Bankman-Fried Appeals for Pre-Trial Release in New York

Sam Bankman-Fried FTX exchange is gearing up for a crucial pretrial release hearing before the U.S. appeals court. This hearing comes as he prepares to face trial on October 3. Bankman-Fried’s initial plea for release was overturned last month after prosecutors argued that he was undermining the credibility of a key witness, Caroline Ellison, a former executive at Alameda Research. The upcoming pretrial release hearing will involve presentations from Bankman-Fried’s legal team and the Manhattan U.S. Attorney’s office. Each side will have five minutes to make their case in front of a three-judge panel at the 2nd U.S. Court of

Huobi Global finds itself facing risks as investments in the staked USDT (stUSDT) project surge to $1.8 billion.
4 days ago 2 mins read

Concerns Rise as Huobi Global’s stUSDT Investments Reach $1.8 Billion

Huobi Global finds itself facing risks as investments in the staked USDT (stUSDT) project surge to $1.8 billion. Spearheaded by crypto entrepreneur Justin Sun, the stUSDT project offers a promising 5% return linked to low-risk securities, such as government bonds. However, a recent Bloomberg report has raised concerns about Huobi’s extensive involvement in the project. These concerns revolve around the exchange’s ability to manage sudden fund outflows and the transparency of its reserves. The report sheds light on how Huobi’s close affiliation with the stUSDT project has brought about a significant shift in the exchange’s crypto reserves. This transformation, combined

Bankrupt crypto exchange FTX has filed a lawsuit against Joseph Bankman and Barbara Fried
5 days ago 1 min read

FTX Initiates Lawsuit Against Sam Bankman-Fried’s Family in Pursuit of Substantial Funds

Bankrupt cryptocurrency exchange FTX has filed a lawsuit against Joseph Bankman and Barbara Fried, the parents of its founder, Sam Bankman-Fried. The exchange aims to recover millions of dollars it claims were “fraudulently transferred and misappropriated.” In a court filing, debtors of FTX and Alameda Research allege that Bankman and Fried exploited their access and influence within the FTX enterprise for personal gain, at the expense of the debtors and their creditors. The complaint cites fraudulent transfers, breaches of fiduciary duties, and other misconduct. Despite presenting itself as a sophisticated crypto business, the filing characterizes FTX as a “family business”

Bitcoin Fails to Break $27K Barrier Despite Surge in Address Activity
6 days ago 1 min read

Bitcoin Price Faces Resistance at $27K as Address Activity Hits 2023 Peak

Bitcoin’s recent surge above $27,000 has reignited optimism in the crypto market, driven by increased demand from institutional investors ahead of the upcoming halving event in around 6 months. In a surprising turn of events, Bitcoin (BTC) managed to surpass the $27,000 mark in September, bringing hope for a resurgence in altcoin bullish sentiment. According to cryptocurrency analysts, Bitcoin reached as high as $27,400 on Monday before experiencing a minor retracement and stabilizing around $26,800 during early Asian market trading on Tuesday. This sudden spike in Bitcoin’s price follows a positive closing last week and anticipation of high-impact news later

Optimism Spreads the Wealth: $26 Million Airdrop for 31,870 Users
6 days ago 1 min read

Optimism Surprises 31,000+ Users with $26 Million Airdrop

Optimism, a Layer 2 network nestled atop Ethereum, has once again delighted its community with a generous airdrop. On this occasion, they’ve allocated $26 million worth of OP tokens to 31,870 addresses that are actively engaged in their DAO, known as the Optimism Collective. This latest airdrop is part of Optimism’s ongoing efforts to boost user engagement on their Layer 2 network while simultaneously rewarding their dedicated participants. The average reward for lucky recipients was 600 OP tokens, equivalent to around $840. However, the actual reward amount varied depending on specific criteria determined by the Optimism team. For those unfamiliar,

About us

Optimisus is a Dubai-based Web3 media company. We cover the latest crypto, NFT, metaverse, blockchain, and Fintech news influencing the crypto industry.

Email: media@optimisus.com

Get Instant Notifications

Join over million readers and get the latest posts delivered straight to your inbox.

© copyright 2023 all rights reserved | Optimisus