Crypto news

The latest company in relation to the disgraced FTX founder to file for bankruptcy is the holding firm owned by him and Gary Wang – Emergent Fidelity Technologies. It’s headquartered in Antigua and Barbuda and reportedly had just $20 million in cash and no other assets. The filings for Chapter 11 were submitted late on Friday in the United States Bankruptcy Court for the District of Delaware. According to Bloomberg, the company, co-founded by Sam Bankman-Fried and Gary Wang,...

Unlike some of the previous weekends since the start of the year, this one has been rather calm for bitcoin, which remains slightly above $23,000. Some altcoins, though, have performed more impressively, including OKB and a few memecoins. SHIB, BabyDoge Skyrocket CryptoPotato reported yesterday Shiba Inu’s massive daily increase of over 10%. However, the second-largest memecoin is well in the green once again on a daily scale. SHIB is up by another 7.5%, while its weekly...

Bitcoin miners located in Texas reportedly suffered severe disruption of their operations due to a blizzard that battered the region. The extreme weather conditions prompted them to switch off their machines to preserve the local power grid.  The Cold Winter in Texas Surprised Crypto Miners As reported by Bloomberg, the ice storm that hit “the Lone Star State” damaged some of the equipment of the domestic bitcoin miners. Electricity consumption surged significantly due to the...

According to an investigation by The Bureau of Investigative Journalism and the Observer, more than 168 shell companies in the United Kingdom are suspected of operating fraudulent crypto or foreign exchange trading schemes, around half of which are potentially linked to pig-butchering scams. In fact, these organized crime groups were found to be using the UK as a “virtual base” for their operations while exploiting lax regulations to conduct fraud on an industrial scale, the...

XRP’s price has not yet shown any significant strength as it continues its struggle to surpass a critical resistance level over recent weeks. Things are not looking much better against BTC, with a major support level getting broken to the downside. Technical Analysis By: Edris XRP/USDT Daily Chart On the daily chart, the price has been consolidating in a tight range below the $0.43 resistance level for quite a while. The 200-day moving average, located around $0.4, has been...

As Ethereum exits its recent consolidation range and aims for the next significant resistance level, the price action leans positive. Technical Analysis By: Edris The Daily Chart On the daily chart, the price has been consolidating in a tight range over several weeks. However, it finally seems that a bullish continuation is the most probable scenario. In this case, the $1800 resistance level and the higher boundary of the large symmetrical triangle could finally be tested in...

Illicit cryptocurrency transactions increased tenfold in 2022, marking the highest total figure yet in the history of crypto. In what was arguably the worst year for bitcoin and its crypto cousins to date, close to $20 billion in illicit crypto was transferred to suspicious addresses. Illicit Crypto Activity Reached a Pinnacle Last Year This beats the previous record set in 2021, which was $18 billion. The new number outdoes the previous one by roughly $2 billion. Kim...

2022 was not a great year for decentralized finance (DeFi). The industry saw implosion in itself thanks to the unsustainable high yields that eventually caused the model to collapse. But DeFi is far from dead. A similar sentiment was echoed by prominent Web3 developer Andre Cronje, who said he does not believe that high yields are “long gone” and that DeFi is seeing almost “zero growth.” DeFi Will Still Simply be DeFi At present, the real yields for ETH, USDT, DAI, and USDC...

January proved to be a somewhat powerful month for bitcoin, which rose beyond the $18K mark by the midway point. Though this is nothing compared to the all-time high of $68,000 it achieved in November of 2021, the jump was a welcomed change from the bearish conditions so many fans, traders, and investors were privy to in 2022. Bitcoin Saw a Good Month in January The previous year was arguably the worst time for bitcoin and the crypto scene. Bitcoin lost more than 70...

Digital currency firm Blockchain.com has announced it’s going to be laying off approximately 25 percent of its staff, which amounts to about 150 separate people at the time of writing. The company is just the latest to fall victim to the bearish digital currency conditions which first began in 2022, and it doesn’t look like the trend is going to stop in the immediate future. Blockchain.com Staff Members Are Made to Say Goodbye Blockchain.com is also shutting down its...