The recent filing by the US Securities and Exchange Commission (SEC) regarding the repayment strategy in the FTX bankruptcy case has raised significant concerns within the industry. The plan to repay creditors using stablecoins or other digital assets has been met with skepticism from the SEC, leading to potential challenges under federal securities laws. In
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
OKX’s Singaporean entity, OKX SG, recently made headlines by securing a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore, as it provides businesses with the ability to operate without daily or monthly transaction limits. Companies seeking this license must meet strict criteria, including being
Cardano recently completed its Chang upgrade, marking a significant shift towards a decentralized governance system. This upgrade, named after Chinese mathematician Ch’ang Shou, introduces key changes that empower ADA holders to actively participate in the network’s future direction. By enabling on-chain voting and introducing Delegate Representatives, Cardano is moving towards a more democratic decision-making process.
Yuga Labs, the masterminds behind the incredibly popular Bored Ape Yacht Club, have recently unveiled a groundbreaking initiative that is set to redefine the company’s future trajectory. The brainchild of co-founder and current CEO Greg Solano, “The Workshop” is a new division within Yuga Labs that is poised to drive innovation and bring forth a
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
