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
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
Binance, known as the largest cryptocurrency exchange in the world, has recently released its 11th report on its reserves. The numbers presented in the report are nothing short of staggering, with particular attention given to Binance’s XRP holdings. Over the past month, there have been reports of investors depositing XRP into exchanges, and this is
Despite gaining around 35% in 2023, Ethereum’s native token, Ether (ETH), has consistently failed to decisively retake the $2,000 mark. This resistance level has proven to be a strong barrier, with multiple bearish rejections hindering its progress. This situation mirrors the bearish rejection experienced in 2018-2019 near $425, suggesting that Ethereum is currently in a
During the ongoing fraud trial of Sam Bankman-Fried, co-founder of FTX exchange, Gary Wang made alarming statements regarding the corrupt relationship between FTX and Alameda Research. Wang disclosed that Alameda had the ability to pilfer client funds, a capability that had been embedded into FTX’s computer systems as far back as 2019. According to Wang’s
On October 5th, Elon Musk, the owner and Chief Technology Officer of X (formerly Twitter), took to Twitter to voice his opinion on the state of the United States’ regulatory agencies. In a tweet, Musk called for a comprehensive overhaul of these agencies and the establishment of a commission to punish individuals who have abused
Crypto startup and AI trading platform Launchpad XYZ has recently raised more than $1.85 million in its ongoing crypto presale, in preparation for the launch of its platform in 2023. The company aims to establish itself as an all-encompassing web3 ecosystem, offering a wide range of services and resources to cater to the needs of
The recent major upgrades in the Ethereum network, namely the Merge and Shanghai, have inadvertently led to a rise in Ethereum staking. However, a new report by JPMorgan has shed light on the alarming cost associated with this growth – higher centralization and lower staking yields. This analysis, conducted by JPMorgan’s team of analysts led
The crypto intelligence firm Arkham Intelligence is currently in the hot seat due to the release of a report by whistleblower platform Crypto Leaks. The report, published on October 5th, contains explosive allegations against Arkham, accusing the company of leveraging vulnerabilities at major exchanges to obtain users’ personal information. In this article, we will critically
