Industry News
Behind bars, Ex-FTX Sam Bankman-Fried chief champions Solana’s crypto potential
An Unforeseen Development: Sam Bankman-Fried’s Prison Stay and Promotion of solana In an unprecedented turn of events, Sam Bankman-Fried, the former CEO of FTX, has found himself behind bars, dedicating his time to working on his legal defense. However, instead of succumbing to the despairing circumstances, Bankman-Fried has taken this opportunity to offer valuable insights…
Controversy surrounds Justin Sun’s HTX wallet revelation
The cryptocurrency community was taken aback by an unexpected announcement from Justin Sun, the founder of the tron blockchain, who revealed that his HTX wallet contained a substantial amount of 28,614 Bitcoins, worth approximately $1.6 billion. Sun shared a screenshot on his Twitter account to demonstrate his active involvement with HTX, where he serves as…
IMF identifies digital currencies as key to financial inclusion in Pacific Island countries
The International Monetary Fund (IMF) has published a thorough analysis on the potential benefits and risks of digital currencies for Pacific Island countries (PICs). These nations encounter unique monetary challenges due to geographical isolation, small and diverse markets, and specific economic vulnerabilities. In a detailed report, the IMF highlighted how carefully designed digital currencies could…
Coinbase launches new feature for recovering assets sent to BNB Chain and Polygon
Coinbase, one of the most prominent cryptocurrency exchanges in the industry, has rolled out an innovative feature designed to help users recover assets that have been mistakenly sent to Coinbase’s unsupported blockchains, such as Binance Smart Chain (BSC) and polygon. This groundbreaking development, announced on February 27, 2023, enables users to reclaim their lost assets…
Central Bank of Nigeria raises interest rate—here’s why
The Central Bank of Nigeria (CBN) has made a significant move in its monetary policy by increasing the interest rate to 22.75%. This announcement was made following the two-day meeting of the Monetary Policy Committee (MPC), which took place between Monday and Tuesday in February 2023. The primary objective of this gathering was to evaluate…
Babylon’s Bitcoin Staking Protocol Secures Binance Labs Investment
Binance Labs, the venture capital branch of prominent cryptocurrency exchange Binance, has demonstrated its belief in the future potential of bitcoin by strategically investing in Babylon, an innovative bitcoin staking protocol. This investment represents Binance Labs’ dedication to fostering groundbreaking projects within the staking and restaking realms. Bridging the Gap between bitcoin and PoS Ecosystems…
LockBit promises vengeance as it restores its operations
Following a large-scale international law enforcement operation, the Russia-based LockBit ransomware gang has made a comeback on the dark web, showcasing their tenacity and adaptability in the face of recent disruptions. This operation, named “Operation Cronos,” resulted in the seizure of 34 servers spread across Europe, the U.K., and the United States. Additionally, two suspected…
Industry titans cheer as Bitcoin’s meteoric rise signals bull run kickoff
In an unexpected turn of events, the cryptocurrency market witnessed a significant surge in bitcoin (btc) prices, leading to substantial losses for short sellers. Within just 24 hours, bitcoin experienced a massive rally, surging by nearly 11%, reaching a new yearly high of $57,000. This sudden price increase resulted in the liquidation of over $161…
Vitalik Buterin suggests Linux as fix for Musk’s windows woes
Vitalik Buterin Recommends Linux as a Solution to Elon Musk’s Windows OS Frustrations: A Growing Discussion on Open-Source Software The ongoing dialogue between influential figures, ethereum co-founder Vitalik Buterin and Elon Musk, has brought the viability of open-source software as a mainstream alternative to proprietary operating systems to the forefront of public discourse. The conversation…
Challenges mount for Do Kwon as legal team confronts court errors
Amidst the ongoing legal battles and mounting uncertainties, Terraform Labs Co-Founder Do Kwon is facing a potential dilemma regarding his upcoming civil trial, scheduled for March 25. The recent developments, including the High Court of Podgorica’s ruling on Kwon’s extradition request, have brought his potential absence at the trial’s initial day into sharp focus. High…
Bitcoin trades around $57K for the first time since the crypto winter
bitcoin Surges Past $57,000: A Significant Milestone in the Crypto Market The cryptocurrency market has experienced a surge in recent days, with bitcoin (btc) reaching a new milestone by breaking through the $57,000 price level for the first time since late 2021. This significant increase in bitcoin’s value comes amidst renewed interest and investor confidence…
Chinese ministry uncovers fake Digital Yuan App – Here’s what you need to know
Title: The Surge of Fake Digital Yuan Apps: A Grave Threat to China’s Central Bank Digital Currency Ecosystem Amidst the burgeoning landscape of digital currencies, the Chinese Ministry of Industry and Information Technology (MIIT) has issued a stern warning against the rampant proliferation of counterfeit digital yuan applications. These fraudulent platforms, camouflaged as bona fide…
OKX boosts international presence with Turkey office opening
OKX Expands Its Horizons: Launching in Turkey Amidst Global Growth On Tuesday, the world’s leading cryptocurrency exchange by trading volume, OKX, officially commenced operations in Turkey as part of its broader international growth plans. This strategic expansion into the Turkish market signifies a significant commitment from OKX to cater to the dynamic and promising crypto…
Stablecoins market cap hits $142B, Highest Since the 2022 crypto winter
Stablecoins: The Stalwarts of the Crypto Market Amidst Volatility, Surpassing $142 Billion in Market Cap Stablecoins have been making waves in the crypto ecosystem, witnessing an impressive surge as they recently hit an all-time high of $142 billion in market capitalization. This significant milestone can be attributed to several key developments, with the resurgence of…
ENS settles dispute over eth.link domain after DAO approval
After an extensive and drawn-out legal performance that lasted for 18 months, the ethereum Name Service (ENS) developer has reached a settlement with Manifold Finance regarding the ownership of the highly coveted eth.link domain. The resolution of this dispute, which was recently approved by the ENS decentralized autonomous organization (DAO), involves a $300,000 payment to…
Crypto trader ordered to return excess funds following exchange error
Title: The Cryptocurrency Saga of Kow Seng Chai: A Legal Battle Over a Miscalculated Refund Exceeding $585,000 In the intriguing world of cryptocurrency trading, an unexpected legal performance unfolded when a trader, Kow Seng Chai, found himself in possession of a substantial refund surplus amounting to an astounding $585,000 more than what was rightfully due….
Institutional investors show strong preference for Ether over Bitcoin: Bybit research
In an intriguing development for the cryptocurrency market, a recent study conducted by Bybit Research has shed light on a notable trend among institutional investors. This trend reveals that these investors have shown a distinct preference for ethereum (eth) over bitcoin (btc) in their investment portfolios, making up approximately 80% of their total cryptocurrency investments….
Court approves SEC settlement with Genesis, paving way for $21M agreement
On Monday, Judge Sean Lane granted the Securities and Exchange Commission (SEC) approval for its settlement with Genesis Global Capital LLC in a significant development for the ongoing legal proceedings concerning the bankrupt crypto lender. The agreed-upon terms, which came without opposition during the court hearing, may require Genesis to pay up to $21 million,…
Lord Jacob Rothschild, banking titan and crypto investor, dies at 87
Lord Jacob Rothschild, a towering figure in the financial world and an esteemed member of the renowned Rothschild banking dynasty, passed away at the age of 87. Born into a lineage that has left an indelible mark on the global banking landscape, Rothschild’s illustrious career encompassed various sectors, including investment banking, the arts, and philanthropy….
CBDC Plan Encounters Firm GOP Senatorial Resistance
The Central Bank Digital Currency (CBDC) debate has taken center stage in the political arena, with a coalition of Senate Republicans led by Sen. Ted Cruz taking a firm stance against the expansive powers of the Federal Reserve in its potential launch of a digital currency. This issue is of paramount importance as it sets…