Crypto news

A judge has approved repayment for BlockFi custodial wallet holders but said interest-bearing funds still belong to the bankrupt company.  BlockFi custodial wallet users could receive a massive $300 million repayment from the bankrupt digital asset lender. On Thursday, a New Jersey judge ruled that the assets locked in BlockFi’s custodial accounts belong to clients rather than the company’s estate. However, the judge further ruled that another $375 million that users sought to transfer...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Bitcoin cash price started a fresh decline below the $120 zone against the US Dollar. The price is now trading below the $120 zone and the 55 simple moving average (4 hours). There is a short-term rising channel forming with support at $112.80 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase)....

The authorities of New York state proposed certain amendments to the law that could allow residents to settle bail bonds in stablecoins instead of fiat currency. The bill could become official six months after the relevant regulators greenlight it. Domestic lawmakers have previously introduced legislation that aims to make certain cryptocurrencies an official means of payment for civil penalties, fines, taxes, and other fees. Another Crypto Step for New York State New York...

California lender PacWest Bancorp (PACW) fell over 20% on Thursday after the company revealed it had lost a significant portion of its deposits.  This follows a string of US regional bank failures this year that were preceded by similar red flags.  Depositors Flee From PacWest Per its quarterly report filed with the Securities and Exchange Commission, PacWest said its deposits declined by 9.5% last week – mostly occurring on May 4 and 5. This, according to the bank, was in...

ZachXBT has accused several influencers of engaging in pump-and-dump scams and profiting from the misery of others. This time, the on-chain sleuth has targetted yet another figure who goes by the name ‘DannyCrypt,’ for allegedly dumping on his followers. The crypto influencer in question was accused of receiving 2% of the supply of a certain token to assist with marketing. However, 15 minutes after receiving the tokens, he allegedly dumped the majority of them for $57k (31...

While Bitcoin had whittled down waitlisted transaction orders by Wednesday, network congestion remains high. Median confirmation time hovered markedly above ten minutes. The on-chain metric for Bitcoin network fulfillment sits at a high unseen since Feb 2023 and Dec 2022. Meanwhile, hundreds of thousands of transactions at a time sit waiting to be confirmed. That’s far above normal levels in the tens of thousands. The extent of network lag is so high that at least one...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up FUNToken is excited to announce that it has been listed on MEXC, a top-tier cryptocurrency exchange. This is a significant milestone for FUNToken, giving users more options to trade and buy FUN on different exchanges. The FUN/USDT trading pair is available on MEXC as of May 9th, providing users with a fast,...

Nexo – a popular cryptocurrency lending platform – is dissolving two business units based in the United Kingdom while it deals with regulatory issues in other parts of Europe and North America.  The latest steps are part of a “restructuring” effort that will still involve Nexo continuing operations within the country.  As reported by BNN Bloomberg, filings from this month show that the lender has applied to remove both Nexo Financial Services Ltd. and Nexo Clearing and...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Eurexcoin.com, a leading digital currency trading platform on the European continent, just announced that it’s going to be enhancing its security and protection methods tenfold. Eurexcoin.com Seeks to Enhance Its Security The crypto space is wrought with fraud and illicit attacks carried out on crypto...

Emirates Group announced global freight expansion to different destinations including Tanzania, Germany, Canada, and Brazil. Emirates Group, a state-owned Dubai-based international aviation holding company, released its 2022-2023 financial results. According to the announcement, Emirates achieved a record annual profit of AED 10.9 billion, approximately $3 billion. The airline service company was impressed with the financial year 2022-2023, after posting a huge decline in operations during...