Browsing:Crypto

The newly-launched bald (BALD) tokens experienced a turbulent ride as prices plummeted by as much as 90%
9 months ago 1 min read

BALD Token Drops 90% After Developer Withdraws Liquidity Money

The newly-launched bald (BALD) tokens experienced a turbulent ride as prices plummeted by as much as 90% after reaching a peak on Monday. The token’s deployer made a significant move by removing millions of dollars worth of liquidity, causing a sharp decline in value from 9 cents to 1 cent. While some recovery was witnessed, with prices bouncing back to 4 cents at the time of writing, the incident left traders on the edge. During the European morning hours on Monday, BALD tokens held an impressive $32 million worth of ether (ETH) in liquidity. However, the mood quickly changed as

Tether's 2023 Q2 Report Reveals Impressive $1 Billion Operational Profit
9 months ago 1 min read

Tether (USDT) Records $1 Billion Profit in Q2

As of June 30, 2023, Tether ensured that the equivalent of USDTs in circulation was fully backed by assets in its treasury. According to the audited report, Tether recorded a surplus of $850 million in company assets during the second quarter. In total, the company assets yielded a surplus of $3.3 billion. Notably, Tether has decided to retain the profit and maintain the equivalent of USDT above 100%, further reinforcing the coin’s stability as a leading stablecoin. In the three-month period between April and June 2023, Tether achieved an impressive operational profit of $1 billion. This milestone speaks to the

SEC Orders Coinbase to Drop All Crypto Assets Except Bitcoin, CEO Speaks Out
9 months ago 2 mins read

SEC Orders Coinbase to Delist All Crypto Assets, Except Bitcoin, Says CEO

Coinbase faced a critical situation when the U.S. Securities and Exchange Commission (SEC) instructed them to delist all cryptocurrencies on their platform, except for Bitcoin. The revelation comes from Coinbase CEO Brian Armstrong, who disclosed the regulatory pressure in a recent interview. The SEC’s stance on considering most assets as securities, excluding Bitcoin, has raised significant concerns within the crypto industry. In a July 31 interview with the Financial Times, Brian Armstrong disclosed the SEC’s surprising demand to delist nearly 250 tokens listed on the Coinbase platform. The SEC, believing that “every asset other than Bitcoin is a security,” reportedly

Will Ethereum (ETH) Make History on its 8th Anniversary with $2K Price?
9 months ago 2 mins read

Ethereum’s 8th Anniversary: Can ETH Reach $2K?

As Ethereum (ETH) celebrates its eighth year on July 30, the crypto community is abuzz with excitement and anticipation. Over the past eight years, Ethereum has achieved remarkable milestones, cementing its position as the leading altcoin in the crypto market and emerging as the most active blockchain. With a vibrant ecosystem boasting over 1.6 million weekly active users and a staggering $226 billion market cap, Ethereum’s eighth anniversary is poised to be a memorable event, with expectations of significant price movements. Ethereum’s journey began on July 30, 2015, with the launch of its blockchain, aptly named the Frontier. Since then,

Shiba Inu Whales Amass 1 Trillion SHIB Tokens in Just 8 Weeks
9 months ago 1 min read

Shiba Inu Whales Acquire 1 Trillion SHIB Tokens in Just 8 Weeks

Shiba Inu has captured the attention of the crypto community, and has experienced a significant surge in its price over the past week. This surge can be attributed to increased activity from large holders, also known as whales, who have been accumulating staggering amounts of SHIB since early June. The anticipation of an upcoming ecosystem event, the launch of the layer-2 solution Shibarium, has further fueled interest in the coin. Market intelligence platform Santiment’s on-chain data reveals that Shiba Inu has been among the altcoins witnessing a remarkable price surge recently. This surge in price can be largely attributed to

Curve DeFi platform built on the Ethereum blockchain
9 months ago 2 mins read

Over $100M Worth of Crypto at Risk Following Curve Finance Exploit; CRV Token’s Decline

Curve, a prominent decentralized finance (DeFi) platform built on the Ethereum blockchain, has fallen victim to a significant exploit, as confirmed by a tweet from the project. The platform’s vulnerability to a “re-entrancy” bug in the Vyper programming language has exposed upwards of $100 million worth of cryptocurrency to potential risk. The exploit resulted in the draining of several stablecoin pools on the Curve system, which play a crucial role in pricing and liquidity for various DeFi services. The exploit in the Vyper programming language, which powers specific components of the Curve system, has led to the draining of several

Elon Musk
9 months ago 2 mins read

Elon Musk’s Tweet Sparks a Surge in Dogecoin Price

Recently, Elon Musk, the owner of X Company, posted a cryptic message hinting at something special to come. Cryptocurrency enthusiasts immediately began speculating on social media platforms, linking the tweet to the popular digital asset Dogecoin (DOGE). While the exact meaning of Musk’s tweet remains unclear, it undeniably had a positive impact on DOGE’s price, prompting excitement and curiosity among investors. In a last-minute development, Elon Musk, known for his impactful presence on social media, posted a message on his account that read, “Something special is coming soon.” The tweet was short but intriguing, leaving Musk’s millions of followers in

The US SEC issued a strong cautionary message to investors regarding the cryptocurrency market
9 months ago 2 mins read

SEC Chairman Gary Gensler Warns Investors of Scams in Crypto Market and Addresses Bitcoin ETF Applications

Gary Gensler, the head of the US Securities and Exchange Commission (SEC), recently issued a strong cautionary message to investors regarding the cryptocurrency market, labeling it as “fraught with scams.” Additionally, he addressed concerns about Bitcoin ETF (Exchange-Traded Fund) applications during a television show on Bloomberg. In his statements, Gensler emphasized the speculative nature of cryptocurrencies, the absence of securities laws protection, and the prevalence of scams and scammers in the industry. Let’s delve into the details of his remarks and the implications for investors. Chairman Gensler’s warning reflects the SEC’s vigilance toward the cryptocurrency market’s inherent risks. The dynamic

Kyrgyzstan is set to enter the crypto mining arena
9 months ago 1 min read

Kyrgyzstan to Establish Crypto Mining Farms

Kyrgyzstan is set to enter the cryptocurrency mining arena with a groundbreaking $20 million project, as announced by President Sadyr Japarov. The government will be constructing a state-of-the-art crypto mining farm powered by a Hydroelectric Power Plant. This initiative aims to harness the country’s abundant hydroelectric resources and capitalize on the potential of cryptocurrencies to boost local revenue. Let’s delve into the details of this significant development. According to reports from July 27, President Japarov has given the green light for the construction of a crypto mining farm at the Hydroelectric Power Plant in Kyrgyzstan. This move comes in response

French Authorities Question Worldcoin's Biometric Data Policies
9 months ago 2 mins read

Worldcoin Under Investigation by French Authorities for Biometric Data Collection

Worldcoin (WLD), a digital identity-based cryptocurrency project spearheaded by Sam Altman, co-founder of ChatGPT, has come under scrutiny as French authorities launch an investigation into its biometric data acquisition practices. The project’s vision is to develop a user-centric digital identification platform using biometric data, including iris scans, to verify identities. However, concerns about privacy and ethical implications have prompted regulatory action. Worldcoin aims to revolutionize the digital identification landscape by creating a platform centered on individual empowerment. At the core of their approach lies the use of biometric data, particularly iris scans, for identity verification. To facilitate this, Worldcoin has

Crypto.com has obtained registration approval from De Nederlandsche Bank (DNB)
9 months ago 1 min read

Crypto.com Dutch Central Bank Grants Official Approval to

Crypto.com has obtained registration approval from De Nederlandsche Bank (DNB), the Dutch central bank. The approval comes after a thorough evaluation of Crypto.com’s business and compliance practices in alignment with the Netherlands’ Money Laundering and Terrorist Financing Act. With this regulatory license in hand, Crypto.com is poised to offer a range of crypto services in the Dutch market, including fiat-to-virtual asset exchanges and custodial wallet solutions. Joining the ranks of 36 registered crypto businesses in the Netherlands, including BitPay, Bitstamp, and Coinbase’s European arm, Crypto.com’s approval marks a milestone for the company. The Dutch central bank acknowledged that Crypto.com is

South Korea is taking steps to enhance its crypto regulatory framework to tackle the increasing number of crypto-related crimes
9 months ago 1 min read

South Korea Takes Stricter Stance on Crypto: LEI Implementation and Crime Unit Establishment

South Korea is taking steps to enhance its crypto regulatory framework to tackle the increasing number of cryptocurrency-related crimes and safeguard investors. In a recent report, it was announced that an interagency investigation unit, the Joint Investigation Centre for Crypto Crimes, has been established to crack down on illicit activities in the virtual asset market. Concurrently, the Korea Securities Depository has partnered with Code to encourage the use of Legal Entity Identifier (LEI) in the crypto market, promoting transparency and accountability. The Joint Investigation Centre for Crypto Crimes, led by the Seoul Southern District Prosecutors Office, is a joint effort

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