102 / 255 Relevant items tagged with #cryptocurrency
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Financial Nonprofit Better Markets: Approving a Spot Ether ETF Would Threaten ‘the Broader Financial System’
[May 17, 2024 10:19 PM] Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states…
Mining Rig Producer Canaan’s Q1 Unrealized Gains Narrow Net Loss to $39.4 Million
[May 17, 2024 9:38 PM] In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues…
Binance Aids Taiwan in Busting $6M Crypto Money Laundering Ring
Dolce & Gabbana Sued Over $6,000 NFTs Losing 97% Value
[May 17, 2024 7:29 PM] Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The…
‘Big Short’ Investor Michael Burry Goes Hard on Gold, Invests $10 Million in Q1
[May 17, 2024 6:33 PM] Michael Burry, an investor famous for making a fortune by anticipating the 2007 subprime mortgage crisis, made a sizable bet on physical gold. According to regulatory filings, Burry’s Scion Asset Management purchased over 440,000 Sprott…
Crypto Analysts Reveal Sub-$1 Altcoins Set To Outperform In The Bull Run
[May 17, 2024 6:00 PM] With the Bitcoin price having already seen a massive rally over the past year, crypto investors have turned their attention to altcoins. This is because altcoin season usually comes after Bitcoin finishes rallying and they present more potential…
Ontario ‘Crypto King’ Faces Major Fraud and Money Laundering Charges
[May 17, 2024 5:14 PM] The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and…
French Regulator Renews Warning Against Blacklisted Bybit
[May 17, 2024 4:04 PM] The French securities regulator, the Autorité des Marchés Financiers (AMF), has issued a renewed warning against using the digital asset platform Bybit. The AMF reminded French investors that Bybit is an unregistered crypto platform operating…
Crypto Mining Surge and Erratic Weather Strain Laos’ Power Grid
[May 17, 2024 12:34 PM] A report released on May 16 highlights how increased electricity consumption due to crypto mining and inconsistent rainfall have led to power shortages in Laos, challenging its goals as a hydropower exporter in Southeast Asia. Reuters: Increased…
Liquid Staking Market in Flux: Withdrawals Hit Swell and Mantle, Reshuffling Landscape
[May 17, 2024 11:22 AM] Over the past 18 days, 27 distinct liquid staking derivatives (LSD) protocols have experienced withdrawals amounting to approximately 50,000 ether, valued at $146.72 million. The most significant reductions occurred in the LSDs Swell and Mantle…
Bitcoin Hits $67K, Leading to $45M in Short Position Liquidations
[May 17, 2024 10:40 AM] The price of bitcoin surpassed the $67,000 mark on Friday, reaching a peak of $67,482 per unit, the highest value since late April. This increase has resulted in the liquidation of nearly $45 million in leveraged bitcoin short positions over the…
Lackluster Performance for Hong Kong Bitcoin ETFs Since Launch
[May 17, 2024 10:31 AM] Since the Hong Kong spot bitcoin exchange-traded funds (ETFs) began trading, their performance has been underwhelming, with three ETFs accumulating around $228 million in net assets. Inconsistent Inflows and Outflows Mark Hong Kong Bitcoin…
China Expands Digital Yuan Pilot: Hong Kong Residents Can Now Set up E-CNY Wallets Locally
[May 17, 2024 9:45 AM] The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster…
US Bitcoin ETFs See 4 Days of Inflows, Blackrock’s IBIT Nears GBTC’s Reserve Levels
[May 17, 2024 8:45 AM] On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) marked their fourth day of inflows, accumulating $257.3 million. Grayscale’s Bitcoin Trust (GBTC) also experienced its fourth day of inflows, gaining $4.6 million during the trading…
Solana Meme Coin Marketplace Pump.fun Issues $1.9 Million Exploit Postmortem, Discloses Former Employee Involvement
[May 17, 2024 7:22 AM] Pump.fun, a leading Solana-based marketplace and deployment tool for meme coins, issued a postmortem on the exploit that occurred on May 16. The team stated that a former employee took advantage of its position to misappropriate 12.3K SOL, worth…
Down From the Peaks: Bitcoin Holds Strong, Closer to ATH Than Crypto Rivals
[May 17, 2024 6:44 AM] Despite bitcoin holding steady above the $66,000 mark on Friday, the leading cryptocurrency is still down 9% from its all-time high (ATH). In comparison, most other cryptocurrencies are much further from their ATHs, with many alternative crypto…
Bitcoin Technical Analysis: BTC Bulls Eye $68K After Surpassing Key $66K Resistance
[May 17, 2024 6:01 AM] As of May 17, 2024, bitcoin’s price stands at $66,303 with a market capitalization of $1.30 trillion and a 24-hour trading volume of $28.43 billion. Technical indicators from multiple time frames suggest a potential continuation of the…
Binance helps Taiwan solve $6.2M crypto fraud
[May 17, 2024 4:58 AM] Working with Binance, Taiwan prosecutors pieced together the evidence, resulting in the indictment of nine individuals for financial crimes, including money laundering and fraud.
Legendary Investor Tim Draper Leads Bitcoin Lending Protocol Zest’s $3.5 Million Seed Round
[May 16, 2024 7:38 PM] Draper Associates, the VC firm led by the legendary investor Tim Draper, has led the $3.5 million seed round of Zest Protocol, a Stacks-based Bitcoin lending market. The round, which also had the participation of Binance Labs, Flow Traders, Trust…
Major Success For Chainlink: US Banks’ Pilot Program Propels LINK Price Up 6%, Details
[May 16, 2024 7:00 PM] The Depository Trust and Clearing Corporation (DTCC) has partnered with blockchain oracle Chainlink and several prominent banking institutions in the United States to conduct a successful pilot aimed at accelerating the tokenization of funds. The…
Juno Addresses Banking Service Disruption — ‘This Is Outside Our Control’
[May 16, 2024 6:35 PM] Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that…
DOJ’s Unlawful Interpretation Threatens Bitcoin and Crypto Innovation, Lawmakers Warn
$25M Sophisticated Ethereum Blockchain Exploit Leads to Arrests in US
[May 16, 2024 4:13 PM] The U.S. Department of Justice (DOJ) has indicted two brothers for wire fraud and money laundering. They allegedly exploited the Ethereum blockchain to steal $25 million in cryptocurrency within 12 seconds. Using sophisticated techniques, they…
Andrew Tate Plans to Invest Big in Bitcoin, Leaving Fiat Completely
Solana Meme Coin Marketplace Pump.fun Suffers $80 Million Exploit
[May 16, 2024 3:00 PM] Pump.fun, a Solana-based marketplace and deployment tool for meme coins, has acknowledged suffering an exploit dealing with the bonding curve contracts in its platform. While the protocol is still investigating the matter, it reported that…
US Senate Votes to Overturn SEC’s Controversial Crypto Rules — Biden’s Veto Threat Looms
[May 16, 2024 2:05 PM] The U.S. Senate has voted to overturn the Securities and Exchange Commission (SEC)’s controversial SAB 121, which imposes regulatory burdens on digital asset custodians. The resolution also passed in the House and now faces a veto threat from…
As TRUMP Coin Surges Over 100% in a Month, Trump’s Crypto Wallet Swells in Value
[May 16, 2024 1:15 PM] Over the past week, the meme coin known as maga (TRUMP) has increased by more than 45% against the U.S. dollar, and over the past day, the TRUMP token has climbed more than 7%. Statistics reveal that this rise in value has boosted former U.S…
Bitcoin Magazine CEO: A Trump Victory Will Trigger a Bitcoin ‘Space Race’
El Salvador Reportedly Mined Nearly 474 BTC Using Geothermal Energy
[May 16, 2024 11:21 AM] El Salvador, the first country to adopt bitcoin as legal tender, has reportedly added 473.5 BTC to its treasury using geothermal energy. According to reports, official data released by The Bitcoin Office of El Salvador (ONBTC) disclosed that this…