The Crypto Wealth Report 2024 by Henley & Partners revealed a significant increase in the number of individuals holding over $1 million in digital assets. The report stated that the number of Bitcoin millionaires has grown notably, with the total value of the crypto market reaching $2.3 trillion, marking an 89% increase from the previous
Crypto
The crypto space recently suffered a significant blow, with over $313 million in losses attributed to more than ten different hacks. Among these hacks, phishing attacks were the main culprits, accounting for a staggering 93.5% of the stolen funds. This highlights a crucial weakness in the industry’s security infrastructure, as malicious actors continue to exploit
Recent data from Bitbo has revealed that Bitcoin miners experienced a significant decline in revenue generation in the month of August. With only $827 million secured, this marks a more than 10% drop from the previous month’s $927.35 million. Additionally, it is a staggering 57% decrease from March 2024 when the industry earned over $1.9
Recently, digital asset investment products experienced a decrease in outflows amounting to $305 million. This negative sentiment was felt across various providers and regions. According to CoinShares, this decline can be attributed to the release of stronger-than-expected economic data from the United States. This data has led to a decrease in the probability of a
Bitcoin’s recent price movements have not been favorable, with the asset plummeting to a 2-week low of $57,100 in the past 24 hours. This downward trend comes after a brief surge last week that saw bitcoin reach over $65,100. However, the positive momentum was short-lived as the asset struggled to maintain its gains and started
A recent incident involving a London resident has brought to light the risks associated with operating Bitcoin ATMs without proper registration. Habibur Rahman, a 37-year-old man from East Ham, is facing charges for running a Bitcoin ATM without the necessary authorization from the Financial Conduct Authority (FCA). This case is significant as it represents the
Bitcoin, a decentralized digital currency, has been a hot topic of discussion in recent years. With its inception in 2009, Bitcoin has revolutionized the way we perceive traditional currencies. Many financial experts have scrutinized its resilience and stability, especially during times of economic turmoil. Peter Diamandis, the founder of X Prize and Singularity University, recently
The payments industry has experienced significant growth over the last five decades, becoming one of the largest and fastest-growing sectors globally. Despite this growth, the sector still relies on outdated technology that is over 50 years old. This outdated technology becomes increasingly inefficient as time passes, presenting a significant challenge for the industry to overcome.
The recent collaboration between Crypto.com, a prominent cryptocurrency exchange based in Singapore, and Standard Chartered, a multinational banking institution, has sent shockwaves through the crypto industry. This partnership aims to provide retail users worldwide with access to fiat services, specifically enabling the deposits and withdrawals of the United States dollar (USD), the euro (EUR), and
The latest report by TRM Labs has highlighted a concerning trend in the crypto industry – the prevalence of illicit activity at crypto ATMs. According to the report, these cash-to-crypto services have processed over $160 million in illicit volumes since 2019, with a significant proportion of transactions in 2023 alone being linked to fraudulent activities.
