Elon Musk finds himself in a difficult situation as he attempts to contest the U.S. Securities and Exchange Commission (SEC). The SEC recently announced legal action against Musk seeking to compel him to comply with a subpoena related to his acquisition of Twitter (now X). Despite receiving the subpoena in May, Musk attempted to avoid
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The Chinese state-run newspaper, China Daily, has recently unveiled its ambitious plan to establish its very own Metaverse and NFT platform. This announcement comes as a surprise to many, given China’s historically stringent stance on cryptocurrencies. However, it is clear that the Chinese government recognizes the potential of blockchain technology and aims to leverage it
In a week filled with volatility, the cryptocurrency ApeCoin (APE) experienced a punishing reversal, plunging nearly 20%. The sharp selloff has left APE precariously below its immediate support zone, raising concerns among traders about the future direction of the cryptocurrency. APE reached a local high of $1.288 on October 2 before facing firm rejection at
The cryptocurrency exchange UPbit, a major player in the South Korean market, has recently disclosed some alarming statistics regarding hacking attempts. According to data shared by UPbit’s operator, Dunamu, with South Korean politician Rep. Park Seong-jung, there were a staggering 159,061 hacking attempts on the exchange during the first half of this year. This marks
In the world of nonfungible tokens (NFTs), scandals and controversies can often capture the attention of the community. Recently, accusations have emerged on social media linking OpenSea’s former head of ventures, Kevin Pawlak, to the infamous AnubisDAO rug pull in 2021. However, OpenSea has publicly denied any knowledge or evidence of Pawlak’s involvement in the
The venture-capital-backed startup, Yuga Labs, renowned for its successful Bored Ape Yacht Club and CryptoPunks NFT collections, has recently embarked on a substantial restructuring process. This process includes a number of undisclosed layoffs, primarily affecting the US-based teams. However, even with these layoffs, the company will retain over 120 employees post-restructuring. The CEO of Yuga
Bitcoin price is currently showing positive signs of holding gains above the $27,450 zone and is eyeing a fresh increase towards the $28,500 resistance. The cryptocurrency market has been quite volatile lately, with Bitcoin experiencing a downside correction after failing to clear the $28,500 resistance zone. However, the price has managed to find support near
In the fast-paced and ever-changing world of Bitcoin, investors and traders constantly monitor whale activities due to their potential impact on the market. These whale transactions, characterized by their large volumes, have the power to initiate a series of market movements. Recently, the Bitcoin community witnessed an intriguing event as a particular whale, dormant for
The US Consumer Financial Protection Bureau (CFPB) is taking steps to evaluate the application of the Electronic Fund Transfer Act (EFTA) to cryptocurrency platforms. The aim of this move is to enhance consumer protections in a market that has been plagued by significant hacks on platforms such as Axie Infinity, Crypto.com, and FTX. The increasing
Bitcoin’s price movements have calmed quite a bit following the enhanced volatility experienced on Friday. It was just about a week ago, on Sunday evening/Monday morning, when the primary cryptocurrency started a massive leg up that resulted in surging by over $1,500. This culminated in a 6-week peak at $28,600 (on Bitstamp) on Monday evening.
