Ethereum lost almost 20% of its market cap since the Merge upgrade

Ethereum Merge fails to meet expectations, price drops by 20%

1 min read

The historic Merge update raised expectations for Ethereum’s (ETH) future prospects, including the potential for luring new users to the network. The initial phases of the Merge, however, fell short of projections due to the current market crisis, with the asset registering capital outflow. For example, as of October 3, Ethereum’s market value was $195.89 billion, down 19.22% from the $158.23 billion it had on September 15, when the Merge

The 5,000 BTC ($96 million) milestone capacity for the Bitcoin Lightning Network has already been reached. In practice, as long as Bitcoiners continue to support the network's development, more and more Bitcoin is being introduced to Lightning Network payment channels worldwide.

Bitcoin Lightning Network capacity strikes 5,000 BTC

2 mins read

The Lightning Network, the layer-2 payments system for Bitcoin (BTC), is still thriving in spite of macroeconomic headwinds and sluggish price action. The 5,000 BTC ($96 million) milestone capacity for the Bitcoin Lightning Network has already been reached. In practice, as long as Bitcoiners continue to support the network’s development, more and more Bitcoin is being introduced to Lightning Network payment channels worldwide. The amount of available liquidity grows as

Binance

Binance signs MoU with Kazakhstan to fight financial crime

2 mins read

As part of its global law enforcement training program, the cryptocurrency exchange Binance has entered an agreement with the Financial Monitoring Agency of the Republic of Kazakhstan. The conference, which is attended by executives of international regulatory and law enforcement agencies, aims to improve industry collaboration with local, state, and federal law enforcement in the fight against financial crime and cybercrime. The program also aims to locate and ban digital

Kim Kardashian Hit With $1.26M Fine By SEC For Failing To Disclose Crypto Endorsement

SEC fines Kim Kardashian $1.26 million for failing to disclose her endorsement of cryptos

2 mins read

The Securities and Exchange Commission (SEC) has fined Kim Kardashian for failing to disclose a payment she received in exchange for endorsing a cryptocurrency asset on Instagram. According to the SEC’s announcement, the American media personality received a reported $250,000 payment to promote EthereumMax’s EMAX tokens on her website; however, she failed to disclose this payment. She broke federal securities laws, according to the SEC, by failing to disclose the

Hacker has returned 70% of stolen $23 million in funds from Transit Swap

Hacker returns 70% of the $23 million in funds that were stolen from Transit Swap

1 min read

According to Transit Swap, the hacker has returned 70% of the money that was taken. This comes after crypto auditor SlowMist said that the cross-chain decentralized exchange or DEX aggregator Transit Swap was abused, costing $23 million in lost funds. Transit Swap claims it is gathering information to create a refund strategy and has not yet returned users’ money. On October 2, SlowMist reported a theft of $1.07 million BUSD

The former CEO of Celsius Network, Alex Mashinsky, withdrew $10 million in May to pay taxes before the company went bankrupt.

Celsius former CEO withdrew $10 million to “pay taxes” before declaring bankruptcy

1 min read

Alex Mashinsky, the former CEO of Celsius, withdrew $10 million in May to pay taxes at the state and federal levels as well as for “estate planning,” according to a representative for Mashinsky. In the weeks before the company filed for bankruptcy, Alex Mashinsky, the former CEO of the defunct Celsius Network, withdrew millions to pay state and federal taxes. He withdrew $10 million from the business in May of

The best-selling author of Rich Dad Poor Dad suggested purchasing Bitcoin and two other commodities, warning that a U.S. dollar crash might take place by January.

Robert Kiyosaki refers to Bitcoin as a “buying opportunity”

1 min read

The best-selling author of Rich Dad Poor Dad suggested purchasing Bitcoin and two other commodities, warning that a U.S. dollar crash might take place by January. Amidst the strengthening of the US dollar and ongoing interest rate increases, businessman and best-selling author Robert Kiyosaki has referred to Bitcoin, silver, and gold as a “buying opportunity” in a tweet. The author noted the prices of the three commodities, sometimes referred to

US SEC Charges Two Firms for Alleged Crypto Pump and Dump Scheme

Two companies are accused by the US SEC of using a crypto Pump and Dump scheme

2 mins read

The Securities and Exchange Commission (SEC) of the United States has charged two businesses, their executives, and a purported international gold trader with operating a hoax to increase interest in their digital currency. According to the agency, the defendants received over $36 million as a result of the token’s misleading advertising. An alleged pump and dump scheme involving the cryptocurrency Dignity (DIG) was allegedly run from 2017 to 2019 by

A Republican Senator is introducing a new bill that would protect crypto exchange platforms from certain enforcement actions by the U.S. Securities and Exchange Commission (SEC).

US Senator introduces bill to prevent SEC overreach on crypto exchanges

1 min read

A new bill that would shield cryptocurrency exchange platforms from some Securities and Exchange Commission (SEC) enforcement actions is being introduced by a Republican senator. Bill Hagerty of Tennessee is promoting the Digital Certainty Act of 2022 as a way to protect cryptocurrency exchanges from SEC overreach and provide legal clarity over how virtual assets are to be classified. According to Haggerty, regulatory ambiguity is hindering the growth of the

Russia Supplying Kazakhstan with Electricity for Cryptocurrency Miners

Kazakhstan receives electricity from Russia for its cryptocurrency miners

2 mins read

In an effort to supply Kazakhstan’s miners with electricity, Russia is seeking to increase Kazakhstan’s energy needs as part of an amendment to their bilateral cooperation. The decision was made as Kazakhstani cryptocurrency miners’ demand for electricity is rising as mining activity picks up. Russian media outlet RBC revealed the development in a recent story. According to the article, the Russian government has asked for changes to be made to

MicroStrategy is seeking to hire a software engineer to work on the creation of a SaaS platform based on the Lightning Network.

MicroStrategy wants to engineer in Bitcoin Lightning Software

1 min read

MicroStrategy, a well-known provider of business intelligence and software, is seeking to hire a software engineer to work on the creation of a SaaS platform based on the Lightning Network. This occurs soon after Michael Saylor, the company’s former CEO, resigned. The company posted a job application looking for an experienced software developer for a new platform that will be created to provide businesses with “innovative solutions to cyber-security challenges

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