Crypto News

Kamala Harris is in talks to speak at the Bitcoin conference alongside Trump

July 24, 2024 2 mins read

Kamala Harris, the Vice President of the United States, is now negotiating her participation at the Bitcoin conference. The event already boasts Donald Trump and Robert F. Kennedy Jr. as speakers. The event, slated to take place in Nashville on July 25-27, is expected to be a significant draw. David Bailey, the Chief Executive Officer of Bitcoin Magazine and the organizer of the event, disclosed that discussions are underway with

Defunct Crypto Exchange Mt. Gox Transfers $3.2B in Bitcoin to two anonymous addresses

July 24, 2024 1 min read

Mt. Gox, a defunct exchange, has resumed transferring funds, sending over $3.2 billion worth of 47,500 Bitcoin to two anonymous addresses. The actual value of Mt. Gox’s assets is likely closer to 42,744 BTC, or $2.85 billion. Plans to pay creditors are underway, as the collapsed exchange issued a repayments statement on July 5. A wallet from Mt. Gox transferred 5,110 BTC, or $340 million, to an unidentified wallet and

Vitalik Buterin, co-founder of Ethereum, unveils a new cryptographic protocol

July 24, 2024 1 min read

Vitalik Buterin, one of the co-founders of Ethereum, has recently unveiled Circle STARKs, a novel cryptographic protocol aimed at enhancing the efficiency and security of blockchain technology. The protocol use smaller fields, such as Mersenne31, to enhance the speed of proving while maintaining the same level of security. Circle STARKs differ from traditional STARKs by utilizing smaller fields, which leads to reduced computational expenses, faster proof generation rates, and improved

The US government transfers $4 million in seized Bitcoin to Coinbase

July 24, 2024 1 min read

Arkham Intelligence, a blockchain data analysis company, has revealed that the US government has transferred $4 million worth of confiscated Bitcoin to Coinbase, a popular cryptocurrency exchange. The funds were derived from a 2020 narcotics case involving Ryan Farace, who used the pseudonym “Xanaxman” on the dark web. Farace and his father, Joseph Farace, were found guilty of money laundering in 2018. The Department of Justice retrieved 2,933 BTC from

Why Is Arbitrum (ARB) Down 68% In 7 Months?

July 24, 2024 1 min read

The value of Arbitrum, the native currency of Ethereum’s layer-2 solution Arbitrum, has experienced a significant decline of 68% since its peak in January 2024. However, encouraging on-chain advancements suggest that Arbitrum now holds the highest amount of total value locked (TVL) and is filled with significant potential. Around 48% of Ethereum bridging assets are sent via Arbitrum, demonstrating its technological proficiency in resolving the scalability issues that affect the

These XRP whales acquire $84 million in XRP in 7 days

July 24, 2024 1 min read

Whales, large investors known for their massive holdings, have seized over 140 million XRP tokens valued at around $84 million in the past week. This surge in buying pressure is attributed to Judge Phyllis Hamilton’s landmark ruling in Ripple’s ongoing legal process, which extended the deadline for excluding four expert testimonies until July 26. Crypto tracking service Whale Alert identified substantial on-chain movement of approximately 140 million XRP ($84 million).

The UAE Central Bank approves a framework for stablecoin regulation

July 24, 2024 1 min read

The UAE Central Bank has introduced a new regulation on stablecoins, set to take effect in June 2025. The regulation restricts the use of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) for transactional purposes, allowing only dirham-backed stablecoins for payments within the Emirates. The aim is to provide clarity and reduce legal uncertainties for businesses, encouraging secure interactions between FinTech companies and virtual asset service providers (VASPs). Financial free

ETHTrustFund DAO allegedly stole $2 million and laundered funds

July 24, 2024 1 min read

The Ethereum TrustFund DAO, a decentralized autonomous organization (DAO) operating on the Base network, has been said to have engaged in a $2 million rug pull, which is a premeditated exit scam. On July 20, 2024, the project relocated all of its financial resources to a new wallet. The transfer was executed using mixer software such as Tornado Cash and Railgun. ETHTrustFund, inspired by successful initiatives like Olympus and Wonderland,

Decentralized exchange dYdX v3 compromised by a DNS attack

July 23, 2024 1 min read

dYdX, a decentralized exchange, experienced a substantial security compromise related to its v3 protocol. A hacker infiltrated the authorized website of dYdX v3 by implanting token-draining software, which has the potential to divert customers’ cash. The hijacked website exhibited error messages resembling prior phishing scams, with the intention of deceiving customers into divulging their wallet information. The exchange posted a cautionary message on social media, recommending users refrain from accessing

Solana surpasses Ethereum and BNB Chain in DEX volume

July 23, 2024 1 min read

Solana has surpassed Ethereum and BNB Chain in decentralized exchange (DEX) volume, representing over 37% of total DEX traffic. This surge in value is attributed to growing confidence in the Solana network, as its total value locked (TVL) has surpassed levels seen before the 2022 bearish market. Factors contributing to this increase include the rise in trading of meme coins on Solana’s decentralized applications, the efficacy of apps built on

An on-chain peer-to-peer payments dApp Reveel, reaches 100,000 users in Over 160 Countries

July 23, 2024 1 min read

Reveel, an on-chain peer-to-peer payments app, announced it has reached 100,000 users across 160 countries, making it the largest on-chain peer-to-peer (P2P) payments app available. According to the team, the app provides decentralized, transparent, and secure on-chain payments globally and across multiple tokens and chains, including BNB Chain, with which Reveel recently announced a collaboration. By 2028, nearly 3 in 4 US smartphone users are expected to send money over

BlackRock’s spot bitcoin ETF sees over $520 million inflow

July 23, 2024 1 min read

BlackRock’s bitcoin exchange-traded fund (ETF), IBIT, received a net inflow of $527 million, which is the highest daily amount since mid-March. Ten bitcoin exchange-traded funds (ETFs) in the United States, excluding Bitwise’s BITB, saw a total net inflow of $533.57 million. Among them, BlackRock’s IBIT was the most actively traded. Fidelity’s FBTC came in second with a total of $23.72 million. The BTCO fund, overseen by Invesco and Galaxy Digital,