Crypto news

2022 was indeed a challenging year for the crypto industry, marked by significant declines in the value of major assets, liquidity issues for many firms, and an unfortunate number of bankruptcy filings. The industry also faced substantial security threats as hackers stole billions of dollars from users and DeFi protocols. A report by blockchain security firm SlowMist, titled “Blockchain Security and AML Analysis,” provided an overview of the security status of various sectors...

Bitcoin’s dominance has recovered more than 2% in the past week or so and tapped a multi-month high as the asset maintains above $20,000. This comes even though the altcoins experienced notable gains yesterday, but many have retraced hard today. BTC Dominance Above 41% Ever since bitcoin finally broke above $17,000 at the start of this week, the landscape around the asset has seemed significantly more bullish than it was at the end of 2022. The past few days saw gains that...

Michael Saylor, the co-founder and executive chairman of American business intelligence firm MicroStrategy, has shared what he thinks will happen to bitcoin (BTC) in the next eight years while outlining how it will come into play. In a recent interview with Cory Klippsten, the founder and CEO of Swan Bitcoin, Saylor noted that he sees bitcoin becoming a global store of value by 2031. Institutional Adoption According to him, institutional adoption is one of the first drivers...

The scale of the financial damage to crypto investors last year was colossal. Not just from FTX International going under but also the rest of them: Three Arrow Capital, Celsius, Genesis, Gemini, Voyager Digital, and BlockFi. The Bitcoin price still hasn’t recovered from the ongoing streak of crypto bankruptcies, although it deleted some of the losses from the FTX fiasco. Over crypto exchanges, BTC kept taking steep discounts all year. Every new bankruptcy headline plunged...

The mining data site Hashrate Index has released a report reflecting on the state of the Bitcoin mining industry throughout 2022.  The analysis examines the steep decline in mining profitability in 2022 compared to 2021 amid plummeting Bitcoin prices and a rising hash rate.  The Hardest Hitting Bear Market Per the report published on Wednesday, Bitcoin’s hashprice reached an all-time low of $55.94/PH/day in November of last year. Hashprice is a dollar-denominated measure of...

Two weeks into the year, and crypto markets are rebounding. The Bitcoin and Ether price are each up some 20% on the seven-day chart. But a recent study of altcoins aims to give crypto investors pause before they go trading the rally. When the market makes a move like this, crypto traders often shuffle. They make trades to scoop profits, make hedges, or take long positions in the coin they think will gain the most next. This can result in an increase in volatility in crypto...

Another crypto mining firm is in trouble. This time, the alleged victim is Greenidge Generation (GREE), which has hinted that it could file bankruptcy in the coming weeks if its present deal with NYDIG doesn’t work out. Greenidge Generation Could Be the Next to Go The company is struggling to restructure its nearly $75 million debt. By doing this, the company could avoid a long bankruptcy line that initially began last summer with firms like Celsius, though Greenidge is...

The rally from the past two weeks has pushed the cumulative market cap of all crypto assets to above $1 trillion for the first time since the FTX debacle. This comes amid the massive price surge from several altcoins, such as Solana, Polkadot, Polygon, Avalanche, and others. The start of 2023 has been quite spectacular for the cryptocurrency market following the painful 2022. The largest digital asset went from around $16,500 to over $21,000 in about two weeks. This 27%...

Illegal financial transactions involving cryptocurrencies in 2022 have reportedly surged for a second consecutive year, tapping an all-time high of $20.1 billion.  The previous record was in 2021, when digital assets facilitated criminal proceedings worth $18 billion. Going Up Amid the Bear Market Apart from the significant market decline, the numerous bankruptcies, and scandals, 2022 will be remembered as a flourishing year for illicit cryptocurrency transactions. According...

Sam Bankman-Fried – the disgraced head executive of the now defunct crypto exchange FTX – is out of prison on a $250 million bond. While awaiting trial, he will live at his parents’ house in California. Sam Bankman-Fried Is Temporarily Out of Jail Bankman-Fried made his way back to the United States from a Bahamian jail in late December of last year. He also made a court appearance on January 3. The bond in question is different from bail. What it means is that if...