Crypto news

The speculations about whether Elon Musk purposefully inflated Dogecoin’s price by changing Twitter’s logo so that he can dispose of his holdings continue on social media. According to data from Lookonchain, two of the five largest DOGE whales sold over $120 million worth of the memecoin amid its massive price rally this week. Twitter’s new owner is known as a keen proponent of the original memecoin, having pushed its price higher numerous times in the past through various...

After severe turbulence in the Bitcoin mining industry last year, there seems to be a significant resurgence since the start of 2023. While it has become even harder to mine BTC, miner revenue has also increased in a much-needed respite for such entities. Bitcoin’s network hash rate, which has been on a steady uptrend, has climbed to another record high of 342.16 EH/s. Foundry USA and Antpool have been dominating the hash rate with 33.9% and 18.7%, respectively. Closely...

The California Department of Financial Protection and Innovation (DFPI) joined a multi-state settlement with Robinhood, which will pay approximately $10.2 million in fines for registering operational deficiency that negatively affected investors during the COVID-19 crisis. The crypto-related company was slapped with another $30 million penalty last summer by the New York State Department of Financial Services (NYDFS) for violating anti-money laundering and cybersecurity...

The launch of the exchange project, OPNX, earlier this week managed to attract significant backlash from the community. A new development has emerged regarding the funds received for the development of OPNX, which is backed by the founders of the bankrupt hedge fund Three Arrows Capital (3AC). BitMEX’s Arthur Hayes cited an anonymous source and claimed that the founders of the controversial project, Zhu Su and Kyle Davies, received a “lot of money” from the sovereign wealth...

Residents of Egypt are angry after being taken advantage of and falling victim to a cryptocurrency scam last August known as Hogg Pool. Hogg Pool Was Probably Never Real A promotional video for the company said it was founded in the year 2019 in the state of Colorado, though regulators believe this is false information. It was touted as a presenter of crypto and blockchain technology investments. Plans through the company allowing customers to invest their cash and...

The past seven days saw the broader cryptocurrency market cool down a bit, with some of the previous week’s leaders also taking a breather. Namely, Ripple’s XRP was unable to sustain the major gains it posted seven days ago and is lost around 5% throughout this week. It could just be setting itself up for another leg up, though. Let’s dive in. The total cryptocurrency market cap is down about $15 billion in the past seven days, which is indicative of it cooling down. BTC was...

On Friday, the Labor Department reported a March job growth that is way off February’s upwardly revised figure of 326,000. US job growth amounted to 236,000 for March amid slowing signs in the labor market. The figure puts the Labor Department’s Friday payroll growth report close to the Dow Jones estimate of 238,000 for March. However, the total job growth of 236,000 sits substantially below February’s upwardly revised figure of 326,000. The March job growth report revealed that the...

The University of California in San Diego has been gifted $15 million in crypto by the Balvi Filantropic Fund, run by Ethereum co-founder Vitalik Buterin. It’s easily one of the largest digital currency donations to ever be made to a school. The money will be put towards a program in which the school will perform research on aerosols. UC San Diego Is Getting a Lot of Crypto Funds Buterin mentioned in a statement: Over the last several years, it has become abundantly...

In the push to launch its own version of ChatGPT, Alibaba Cloud will need to take in account the impact of regulations in China and the influence of competitors. Alibaba Cloud, one of the major subsidiaries of Chinese multinational tech giant Alibaba Group Holdings Ltd (HKG: 9988), is reportedly set to launch its own ChatGPT rival in what has become a major frenzy in today’s tech world. As reported by Bloomberg, Alibaba Cloud has been sending invitation codes to some of its corporate...

Korean officials have linked approximately 91.4 billion won, worth about $69 million, in digital assets directly to Do Kwon. South Korea officials continue to grill former Terraform Labs co-founder Kwon Do-Hyung, popularly known as Do Kwon, following his arrest earlier last month in Montenegro as he attempted to flee to Dubai. The collapse of Terra Luna and its algorithmic stablecoin UST led to a loss of over $40 billion from the crypto market. As a result, the entire cryptocurrency...