Crypto news

Hashed CEO and an early backer of the ill-fated LUNC token, Kim Seo-joon, failed to appear before a South Korean congressional inquiry into the crash. He cited “mental conditions” as the reason for his absence from South Korea’s National Assembly’s Political Affairs Committee, which he supposedly developed since the spectacular $40 billion wipeout in May 2022. Kim Seo-joon No-Show at Hearing According to a recent report, the exec revealed to have been “under extreme stress”...

On October 24, CEO Elon Musk confirmed during a video conference with a group of bankers that he is prepared to close the acquisition of Twitter by Friday, October 28. According to sources interviewed by Bloomberg, the banks provided $13 billion in financing to the electric car mogul to finalize the purchase, which is in the final stages of its paperwork. Wall Street lenders had been preparing for weeks in anticipation of the purchase. The court handling the Twitter case set...

The power tussle between the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over regulatory oversight of the crypto market continues to confuse investors about which rules to follow.  In line with the turf war conflict between the two market watchdogs, CFTC chairman Rostin Behnam has reiterated that Bitcoin (BTC) and Ethereum (ETH) are commodities, not securities.  Behnam Says Ether is Commodity Despite PoS...

Rishi Sunak is all set to take over the role of the prime minister of the United Kingdom in a few days. Amidst dire economic headwinds, Sunak was voted into office after Liz Truss, who only served a record-breaking 45 days, announced her resignation as a result of a maelstrom of criticism over her failed fiscal policies. Sunak, for one, is a proponent of the crypto industry and had previously championed regulation. UK Crypto Regulation During his stint as the Finance...

The gloomy market condition has failed to deter long-term Bitcoin holders who are currently in possession of more than 75% of all existing BTC. As per an analyst at the crypto analytics platform CryptoQuant, this level was last seen in October 2015. The sentiment of long-term holders is important as they represent experienced market participants that have been through different phases of the market. The analyst explained that these entities have lower spending behavior...

2022 is a year that saw a lot of chatter on layer-one protocols such as Ethereum, Solana, the BNB Smart Chain, Avalanche, and many others. The astronomic rise of non-fungible tokens (NFTs) revealed that most of the blockchains were unable to handle the load that comes with some form of mainstream adoption. Before Ethereum transitioned to Proof-of-Stake (read: The Merge), the network was oftentimes clogged, and transaction fees were unimaginably high. In fact, this prompted...

Mike Novogratz – the billionaire investor and head of hedge fund Galaxy Digital – has stated that if Jerome Powell and the Federal Reserve give up the fight against inflation, bitcoin could likely exceed all expectations and rise back up through the roof. Mike Novogratz Wants to Save Bitcoin In an interview, Novogratz commented: If he gives up this fight, you’re going to see bitcoin and other assets take right back off. Inflation is at a 40-year high in countries like...

Following days of inactivity, Bitcoin was struck by another wave of upward volatility on Tuesday. After nearly reaching $20,000, the asset left $100 million in liquidations in its wake.  Bitcoin’s price sat at roughly $19,270 at 12:40 UTC on Tuesday, before rapidly climbing upwards over the next few hours.  The coin touched $19,500 about an hour later, experiencing another hour of flat trading before climbing again to $19,834 by 16:00 UTC. The price is now $19,792, at writing...

CashApp is now fully compatible with the lightning network for sending and receiving Bitcoin payments.  The full integration makes Bitcoin significantly easier to use as a means of payment via a commonly used consumer app.  CashApp Integrates Lightning The mobile payment service enabled users to send lightning payments to external lightning wallets (ex. Chivo Wallet, BlueWallet, Muun Wallet, etc) back in February. However, the ability to receive lightning payments from...

Alessandro De Grandi is the CEO and founder of The Nemesis, a crypto gaming platform. He says he first bought bitcoin in 2010 and it was a truly thrilling experience that he still looks back on with great hope and love. Alessandro De Grandi and the History of The Nemesis When Grandi first bought the world’s number one digital currency by market cap, each unit cost less than one dollar. He later sold them for about $75 believing he had made a solid profit on the units,...