HTX global adviser Justin Sun recently announced the creation of a secure asset fund for users (SAFU) following an exploit on the exchange’s hot wallet, resulting in a loss of $7.9 million on September 24. This fund serves as a financial safety net, aiming to reimburse investors in the unfortunate event of asset losses due
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Maker DAO’s MKR token has experienced a significant boost amidst a slight uptick in the broader cryptocurrency market. Despite the struggle for most tokens to recover, MKR has consolidated its upswing with an impressive 5% 24-hour increase. With MKR currently trading at $1335, it is poised to conquer the critical resistance level at $1,350. This
The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) is undeniably one of the most significant lawsuits in the cryptocurrency industry. Its outcome carries immense weight, as it has the potential to shape the country’s stance on cryptocurrencies and establish a vital precedent. However, the resolution of this case remains
In a turn of events that shocked the cryptocurrency and blockchain community, Ben Armstrong, widely known as BitBoy Crypto, was arrested during a live YouTube broadcast. The incident occurred as Armstrong attempted to confront his former business partner, Carlos Diaz, accusing him of stealing his Lamborghini. This unfortunate episode tarnishes the reputation of a prominent
In a groundbreaking move, Yuga Labs, the driving force behind renowned Web3 initiatives such as Bored Ape Yacht Club, CryptoPunks, Meebits, and 10KTF, has forged an unprecedented partnership with A BATHING APE (BAPE), a trailblazer in the streetwear scene. With its inception in Harajuku, Japan, in 1993, BAPE has been a driving force in Japanese
Litecoin (LTC), one of the prominent cryptocurrencies, has been stuck in a bearish trend as its value struggles to break free from the grip of sellers. Throughout the past week, LTC has traded within a narrow price range with a consistent value hovering around $64. While September has seen a predominantly bearish market for LTC,
The native OP token of Optimism has been facing a significant downturn in price among the top 50 cryptocurrencies, dropping as much as 10% in the week leading up to a $30 million token unlock. With 24.16 million OP tokens set to be unlocked on September 30, comprising approximately 3% of the circulating supply, a
The U.S. Securities and Exchange Commission (SEC) has raised concerns over a reorganization plan put forth by the bankrupt cryptocurrency firm Celsius. The plan involves enlisting Coinbase, a prominent crypto exchange, to act as a distribution agent in order to return funds to affected users. However, the SEC argues that Coinbase’s role goes beyond the
The market for BANANA coin, a token on the Ethereum Network, has experienced a turbulent day, with significant fluctuations in its value. Despite an initial 18% gain, the coin ultimately settled for a modest 2.57% increase. This raises concerns about the coin’s future prospects and leaves investors uncertain about its short-term and long-term potential. Various
Hong Kong’s Securities and Futures Commission (SFC) has implemented new measures in response to the fallout from the JPEX incident, aiming to strengthen investor protection and enhance regulation in the cryptocurrency industry. These measures include the publication of a comprehensive list of licensed Virtual Asset Trading Platforms (VATPs), the launch of a fraud prevention publicity
