Bitcoin experienced extreme volatility on Monday, with a significant drop to a new monthly low of $64,000. The altcoins did not fare any better, as many witnessed substantial declines, leading to over 190,000 traders facing losses. The weekend had been relatively stable for the primary digital asset, hovering around $66,000. However, Monday started off on
Crypto
Terraform Labs, the defunct crypto firm behind the Terra blockchain, has recently come to a settlement agreement with the Securities and Exchange Commission (SEC). The SEC has accused the company and its co-founder, Do Kwon, of engaging in fraudulent activities related to the defunct blockchain, resulting in massive losses for investors. As part of the
Recent analysis by 10x Research CEO Markus Thielen suggests that Bitcoin is on the verge of reaching a new all-time high. Thielen has identified a “head and shoulders” chart pattern that is close to completion, indicating a potential rally towards $83,000 in the near future. Despite facing some resistance and retreating to just over $69,000
Core Scientific, a key player in North America’s digital infrastructure sector, has recently announced a game-changing strategic partnership with CoreWeave, an AI Hyperscaler. This collaboration involves a series of long-term contracts spanning over 12 years, where Core Scientific will provide approximately 200 MW of infrastructure to support CoreWeave’s high-performance computing (HPC) operations. This partnership marks
In a recent announcement, Coinbase CEO Brian Armstrong revealed that over one million individuals have joined the ‘Stand With Crypto’ movement to advocate for the cryptocurrency industry. This massive surge in supporters has not gone unnoticed, with Armstrong highlighting that these members have become a formidable voting bloc. The movement gained traction, particularly after a
In May, the cryptocurrency sector faced significant losses amounting to $42.6 million due to various factors such as exploits, flash loans, and exit scams. While these losses were substantial, there was some relief as approximately $96.2 million was recovered, mitigating the economic impact to some extent. One of the major contributors to losses in the
Recently, the U.S. District Court for the District of Utah made a significant decision regarding the Securities and Exchange Commission’s (SEC) case against Digital Licensing, also known as Debt Box. The court not only dismissed the case but also ordered the SEC to pay approximately $1.8 million in attorney and receivership fees. This ruling has
The year 2021 has witnessed a surge in the launch of meme coins, many of which have raised concerns about their legitimacy and ties to celebrities. The launch of JENNER on the Solana blockchain, endorsed by American celebrity Caitlyn Jenner, has particularly drawn attention to the risks associated with trading meme coins. Despite doubts from
Blockchain analytics firm Nansen recently uncovered DBS Bank, a major banking institution in Singapore, as a prominent player in the cryptocurrency market. The firm identified a crypto wallet linked to DBS Bank holding a substantial amount of Ether (ETH), totaling 173,753 coins valued at around $650 million based on current market prices. This revelation highlights
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has made headlines with its successful recovery of almost all of its customers’ digital assets after the bankruptcy of its crypto lending arm. This recovery has been hailed as one of the most successful in the industry to date. Gemini announced that its customers in
