On February 18, a significant step will be taken in the FTX bankruptcy saga as the defunct cryptocurrency exchange prepares to distribute funds to its smaller creditors. In an announcement by the Joint Official Liquidators (JOLs) of FTX Digital Markets Ltd., it was confirmed that creditors with Convenience Class claims valued at $50,000 or less
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The cryptocurrency market has been a whirlwind of activity recently, particularly with Bitcoin grappling with significant price fluctuations. On one notable occasion, Bitcoin’s value plummeted to a concerning $91,000. However, analysts are suggesting that this downturn is emblematic of a “bear trap,” a strategic maneuver that could ultimately fortify the cryptocurrency’s position in the market.
Pi Network, a cryptocurrency initiative that was launched nearly six years ago, has recently encountered a mixture of optimism and skepticism as it continues to expand its user base. With over 100 million downloads as of December last year, the project has discovered a particularly enthusiastic following in Asia, with countries such as South Korea,
Bitcoin’s price movements have mirrored a rollercoaster ride recently, showcasing the cryptocurrency’s infamous volatility. This past Monday was particularly dramatic, as Bitcoin plummeted by an astonishing $10,000 before swiftly regaining almost all its losses, only to lose momentum later. Such unpredictability is often a defining characteristic of the crypto market, and Bitcoin, being the flagship
THORChain, known for its decentralized cross-chain liquidity protocol, has faced a significant financial challenge that culminated in nearly $200 million of defaulted debt. This precarious situation necessitated immediate intervention from the governance body, prompting the approval of Proposal 6 aimed at restructuring the protocol’s financial obligations. By shifting defaulted liabilities into TCY (Thorchain Yield) equity
In recent conversations around government efficiency and transparency, Elon Musk has emerged as a vocal proponent for the incorporation of blockchain technology into U.S. Treasury operations. His criticisms of the Department of Government Efficiency (D.O.G.E.), particularly under the leadership of Scott Bessent, underline serious concerns regarding fraudulent payments and administrative mismanagement. Musk’s insights provoke a
Over the past weekend, Ethereum experienced a tumultuous downfall, suffering from a staggering market capitulation that saw its value nosedive more than 30% in the span of just one day. This plunge not only rattled Ethereum holders but also sent ripples throughout the entire cryptocurrency landscape. For many investors and traders, the sudden drop from
In the tumultuous world of cryptocurrency trading, liquidation figures often serve as vital indicators of market health, sentiment, and trader behavior. Recent claims by Bybit CEO Ben Zhou regarding the actual liquidation numbers beg further scrutiny, revealing a substantial discrepancy in reported figures. While mainstream sources assert that today’s crypto market liquidations totaled a mere
The cryptocurrency landscape is an exhilarating but perilous one, with countless users navigating through opportunities and risks. Recent data from on-chain investigator ZachXBT has shed light on a staggering issue: Coinbase users reportedly lose over $300 million annually due to social engineering scams. This shocking figure calls into question the effectiveness of Coinbase’s security protocols
In an impressive move signaling its ambition in the European market, Kraken has successfully secured a Markets in Financial Instruments Directive (MiFID) license. This development, announced on February 3, empowers the crypto exchange to enhance its offerings of regulated derivatives across significant European marketplaces. Through the strategic acquisition of a Cypriot investment firm, now sanctioned
