ETH

Bitcoin’s Price Surge Leads to $100M Loss for Short Traders Amid Anticipation of U.S. ETF Approval

January 9, 2024 1 min read

Bitcoin’s recent price surge, which saw it surpass $47,000 for the first time since March 2022, resulted in significant losses exceeding $100 million for traders who had taken short positions, betting against the crypto’s rise. This loss comes as the market waits for the approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States. Users on exchanges such as OKX and Binance suffered significant losses. Bitcoin’s price increase coincides

Over $550 billion could flow into crypto market, says analyst

January 9, 2024 1 min read

Scott Melker, a crypto analyst, has highlighted a significant influx into Bitcoin following the approval of a BTC Spot Exchange-Traded Fund (ETF). Melker projected $550 billion in Bitcoin ETF investment in a social media post on X (formerly Twitter), representing only 0.5% of total assets managed by Registered Investment Advisors (RIAs). Melker stated that RIAs currently manage assets worth $114 trillion, and Bitcoin’s total market capitalization is $860 billion. According

Over $150 Million Poured Into Crypto Funds In 2024

January 9, 2024 1 min read

According to a recent CoinShares report, the first week of 2024 witnessed a significant milestone in crypto investments, with a notable influx of $151 million into investment products in this sector. The significance of this over $150 million increase in inflows was highlighted by James Butterfill, Head of Research at CoinShares, especially in light of Grayscale’s ongoing legal battle with the US Securities and Exchange Commission (SEC). Since the case’s

Solana Co-Founder Talks About Ethereum’s Risks, Emphasizes Simplicity in Blockchain Language

January 8, 2024 1 min read

Anatoly Yakovenko, co-founder of Solana, recently discussed Ethereum’s challenges and shed light on Solana’s design principles. Here is a breakdown of Yakovenko’s key insights. Yakovenko expressed concern about Ethereum’s potential centralization issues. He emphasized the danger of specific parts of the network becoming overly dominant, posing a challenge to Ethereum’s decentralized goals. Yakovenko, on the other hand, emphasized an important aspect of Solana’s architecture: atomic composability. This feature allows for

Any US resident making crypto transactions exceeding $10,000 will soon have to report them to IRS

January 5, 2024 1 min read

A recent development in the crypto landscape is causing a stir among users and advocates alike. The Infrastructure Investment and Jobs Act, passed by the US Congress, introduces a reporting provision requiring individuals involved in crypto transactions exceeding $10,000 to report them to the Internal Revenue Service (IRS) within 15 days. While this move aims to enhance transparency, it brings about a series of challenges and uncertainties. The Infrastructure Investment

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday

January 4, 2024 2 mins read

The crypto market is experiencing increased uncertainty as the US Securities and Exchange Commission (SEC) nears a decision on spot Bitcoin Exchange-Traded Funds (ETFs). While initial expectations were positive, recent expert analyses have added a note of caution. As the market speculated on the possible outcomes, Bitcoin’s value dropped 6.5% in minutes, falling from $44,400 to $41,500. This drop saw over $1 billion worth of crypto liquidated from the market.

Radiant Capital Loses $4.5 Million Worth of Ethereum to Hackers

January 3, 2024 1 min read

Radiant Capital, a well-known cross-chain lending system, was recently the victim of a major security breach that resulted in the theft of 1,900 Ethereum (ETH) worth $4.5 million. PeckShield, a blockchain security and analytics firm, was the first to report the incident. The attack took advantage of a flaw in the lending platform that emerged following the activation of a new market. It’s worth noting that the platform under consideration

Bitcoin (BTC) Surges Past $45.5K as Investors Await Major U.S. Reports

January 2, 2024 1 min read

As the new year begins, crypto enthusiasts and mainstream investors are closely monitoring key economic reports from the United States. The emphasis is on traditional financial indicators and the burgeoning crypto market, where Bitcoin’s recent surge has sparked considerable interest. Investors are especially interested in upcoming reports that provide insight into the state of the US economy. The Institute for Supply Management’s December ISM Manufacturing PMI report is scheduled for

Thunder Terminal was the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL

December 28, 2023 1 min read

Thunder Terminal, an on-chain trading platform, was recently the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL. Despite the breach, Thunder Terminal responded quickly, assuring users that all funds are secure and taking immediate steps to mitigate the impact. The hackers took advantage of a vulnerability by gaining access via a MongoDB URL, allowing them to execute fraudulent withdrawal requests and steal large

Ethereum Wallet Linked to Trump’s NFTs Reportedly Moves $2.4M Worth Of ETH

December 28, 2023 1 min read

An Ethereum wallet allegedly linked to former President Donald Trump has recently come under scrutiny for transferring millions of dollars in crypto, which is thought to be proceeds from the sale of non-fungible tokens (NFTs). These findings were highlighted in a December 27 report by Arkham Intelligence, which raised concerns about the financial activities associated with Trump-themed NFTs. Over the last three weeks, the Ethereum wallet in question transferred 1,075

Arthur Hayes of BitMEX dumps Solana (SOL) to buy Ethereum (ETH)

December 22, 2023 1 min read

Arthur Hayes, the co-founder of BitMEX, has made a shift in his investment strategy, moving from Solana (SOL) to Ethereum (ETH). The unexpected decision, announced on the X platform, was attributed to a “divine message” Hayes claimed to have received during meditation. Alongside this switch, he made a bold prediction, foreseeing Ethereum’s price potentially hitting $5,000. Despite Solana’s recent achievements, reaching milestones and climbing close to $100, Hayes opted to

KuCoin Settles $22 Million Lawsuit with NYAG, Exits New York Operations

December 13, 2023 2 mins read

KuCoin has reached an agreement with the New York Attorney General (NYAG) to halt all operations in the state. The agreement stems from a lawsuit filed by KuCoin alleging illegal and unregistered sales of securities and commodities. KuCoin is required to pay over $22 million as part of the agreement, with over $16.7 million earmarked for refunds to New York-based users and an additional $5.3 million to the NYAG. The