The landscape of non-fungible tokens (NFTs) is seeing a shift in South Korea, with major retail companies like Lotte, Hyundai, and Shinsegae announcing their departure from the NFT market. This decision comes as a response to the slowdown in the industry and a strategic redirection of resources towards core business operations. Major Retail Companies Exit
Coinbase recently expressed its concerns regarding the SEC’s $2.6 billion budget request for the upcoming fiscal year. According to a statement provided to CryptoSlate on June 13, a representative from Coinbase highlighted that the SEC consistently asks for more money to fuel its enforcement activities, while neglecting to allocate funds towards creating clear and workable
The Chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, recently spoke before the Senate Committee on Appropriations regarding the agency’s readiness to take on additional crypto responsibilities. Behnam firmly denied any suggestion that the CFTC would be overwhelmed if given more authority in the crypto space. He argued that crypto commodities already fall
As the winds of change blow through the Bitcoin market, a noticeable shift in investor behavior has emerged. The recent report by Bitfinex Alpha highlights this transformation, revealing a contrasting dynamic between short-term traders and long-term hodlers. The rise of spot Bitcoin ETFs has paved the way for a new breed of investors seeking quick
Ethereum (ETH) has recently experienced a decline in price, dropping to around $3,500. However, analysts are optimistic about the potential for new all-time highs in the future. Metrics such as negative exchange netflow and a low Relative Strength Index (RSI) suggest reduced selling pressure and the possibility of a price recovery. The price of Ethereum,
With the recent $4.5 billion SEC settlement, Terraform Labs CEO Chris Amani has made the decision to wind down the company and transition Terra into a community project. Amani emphasized the need for the community to take over ownership of the chain, signaling a shift in direction for the project. This move indicates a decentralization
Cardano, a prominent cryptocurrency, has been the subject of optimistic forecasts from various crypto analysts. One notable analyst, known by the handle @Av_Sebastian on X (formerly Twitter), has predicted a significant surge in the price of Cardano (ADA) to $2. This projection is primarily attributed to the upcoming Chang upgrade, which has generated excitement within
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
ENA, the native token of Ethena, has been experiencing significant selling pressure in recent weeks. This has led to a drastic decline in its price, with ENA plummeting to $0.73, marking its lowest level since May 20th. As a consequence, ENA stakers have suffered substantial losses due to this sudden downturn in the token’s value.
Gamee, a hypercasual gaming platform operating under Animoca Brands, has witnessed a surge in activity within its network recently. While initially running its games on the social app Telegram, the pivotal moment that propelled Gamee to new heights was the $15 million hack of Polygon in early 2024. This incident led to the transfer of
