Crypto news

Crypto exchange Binance announced the opening a new blockchain hub in Georgia. The establishment of this new “Web3 outpost” is expected to help Binance strengthen blockchain education and accelerate the adoption of crypto in the region. Binance had forged several strategic partnerships, initiatives, as well as community events in the transcontinental country that is known for being crypto-friendly. Blockchain Hub in Georgia According to the official blog post, the blockchain...

The Kokomo Finance protocol has been found to be an elaborate exit scam after developers used wrapped Bitcoin to steal user funds worth $4M. According to reports, developers behind crypto lender Kokomo used Wrapped Bitcoin (wBTC) to perpetuate a $4 million exit scam. A CoinDesk report alleges developers pulled off the scam over the weekend after manipulating tokens to steal millions in user funds. The report further stated that these developers attacked the smart contract of wrapped...

[PRESS RELEASE – Please Read Disclaimer] The partnership will enable OKX Wallet users to access Sui’s ecosystem projects and participate in a range of airdrops and community initiatives. March 8, 2023 – Sui Network, a layer 1 blockchain designed for scaling decentralized applications, has announced a strategic partnership with OKX Wallet, a leading self-custodial service in the digital assets industry. The partnership will enable OKX wallet users to access Sui’s ecosystem...

Four Russian nationals have recently been indicted by a federal grand jury in Oregon after they allegedly ran a crypto pyramid scheme that saw them steal close to $350 million from investors all over the world. Oregon Is Fighting a Crypto Fraud Scheme The four men initially began a crypto company they called Forsage, and trouble started in the summer of last year when a complaint was filed with the Securities and Exchange Commission (SEC) about the firm. The agency...

Coinbase asked developers to work on an inflation-tracking stablecoin that can serve as a hedge to the poor monetary policy decisions of the central bank. Crypto exchange Coinbase has been working on some key projects and one of them includes inflation-pegged flatcoins to be built over its recently launched Layer-2 network Base. Coinbase sees flatcoins as one of the four critical innovations in the future of crypto. The other three projects include on-chain limit order book (LOB) exchange,...

New risks discovered in multi-party computation (MPC) wallets and digital asset custody, Verichains reports. Leading blockchain security solutions provider Verichains announced the discovery of a critical attack possibility in the popular Threshold Signature Scheme (TSS), the function in a blockchain that enables a group of parties to collectively issue a transaction signature without exposing the secret signing key. TSS is a multi-party control (MPC) protocol that is common in...

Ark Invest is also interested in Jack Dorsey’s payment firm Block after short-seller Hindenburg Research published a damning report on the company. No one takes advantage of the dip in crypto-related stocks like Cathie Wood’s American investment management company, Ark Invest. For the second straight day, the company made strategic acquisitions of both the shares of crypto exchange Coinbase Global inc (NASDAQ: COIN) and payment service provider, Block Inc (NYSE: SQ). As gleaned from...

It is expected that Dwpbank’s move will put pressure on other German banks and financial institutions in the country. Deutsche WertpapierService Bank (Dwpbank), has launched a new platform called wpNex. The securities processing giant announced the launch via a recent press release on the new platform. According to the release, wpNex by Dwpbank will accommodate its over 1,200 affiliated banks and will allow them to offer Bitcoin (BTC) trading to their customers in the second half of this...

First Citizens has acquired failed bank Silicon Valley and will open former SVB branches today as First Citizens Bank and Trust Company. According to the Federal Deposit and Insurance Corporation, First Citizens Bank is set to acquire the embattled state-chartered commercial bank Silicon Valley Bank (SVB). In a recent statement, the FDIC revealed that the bank holding company would acquire all deposits and loans of SVB. According to the deal, 17 former SVB branches will reopen as...

Stellar lumen price is facing a major resistance near the $0.0965 zone against the US Dollar. XLM price is now trading above $0.090 and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near $0.0910 on the 4-hours chart (data feed via Kraken). The pair could start a decent increase if it clears the $0.0935 and $0.0965 resistance levels. Stellar lumen price is trading above $0.0900 against the US Dollar, similar to bitcoin....