Crypto news

[PRESS RELEASE – Please Read Disclaimer] Blockchain technology, which powers cryptocurrencies, has been getting a lot of buzz recently. New startups have begun implementing this powerful technology into their everyday business models and investors are taking notice of the disruption potential it can bring to the venture capital industry. Venture capital has been the go-to funding source for startups since the 1950s, but in the past decade, blockchain technology has been...

The crash of Terra Luna – an algorithmic stable currency – caused ripples throughout the digital currency space. The price of bitcoin has fallen more than 70 percent from its all-time high of $68,000 last November, and the digital currency arena has lost more than $2 trillion in valuation. Now, it looks like another bigtime digital asset – Hex – could potentially fall into the same category as Terra Luna. Hex Is Dropping Rapidly Hex was launched three years ago in 2019....

The highly anticipated community event is finally here. After days of waiting for the rumoured mega updates, HyperNation announced several new features poised to bring value-adding perks to all loyal hodlers. The event entitled ‘Circle of Convergence’ records a whooping attendance of 8,000+ unique online participants who turn up and celebrate with the community worldwide. The recent price hike of HNT to a phenomenal 139% was a prelude that cued its tokenomic fitness as...

Bitcoin cash is attempting a fresh increase from the $88 zone against the US Dollar. The price is now trading above the $100 zone and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $98 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $107 and $110 to continue higher in the near term. Bitcoin cash price is climbing above $100 against the US Dollar, similar to bitcoin....

One week after the implosion, legal woes for FTX have only intensified. According to the latest court filings from the company’s Bahamian liquidators, there are signs of “serious fraud and mismanagement” on the bankrupt crypto exchange’s part. The document filed in the US Bankruptcy Court of the Southern District of New York revealed that the Joint Provisional Liquidators’ findings to date indicate that FTX may have committed serious fraud and mismanagement. The filing seeks...

Changpeng Zhao – CEO of the world’s leading crypto exchange Binance – advised Sam Bankman-Fried to refrain from dropping misleading messages on Twitter and instead focus on his colossal problems with FTX. In one of his announcements, SBF referred to a mysterious “sparring partner” who could have played a role in the exchange’s collapse, and some estimated this might be Zhao. The latter said only a “psychopath” could come up with such a tweet, claiming the industry is not a...

The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time). The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%. Bieber’s Massive Paper Loss Justin Bieber was among the famous individuals who dived into NFTs when the hype around them was at its peak. The superstar bought...

Crypto lending platform Celsius may have gotten a break in its recent bankruptcy case as crypto service provider Prime Trust – which held a long-term partnership with Celsius up through the summer of 2021 – has agreed to give up control of approximately $17 million of the lending company’s digital assets, thus returning them back to executives’ hands. Celsius Is Getting a Chunk of Money Back Celsius had filed a lawsuit against Prime Trust back in August. Per a contract...

Numerous major exchanges are disabling deposits and/or withdrawals for Solana-based variants of the top two stablecoins, USDT and USDC. The wave of delistings follows Solana’s major price crash in the wake of FTX’s collapse – an exchange known to be closely involved with the network and token.  Scrubbing the Solana Stablecoins On Thursday, Binance announced that deposits for Solana-based USDC and USDT tokens had been “temporarily suspended until further notice,” without...

The revelations surrounding FTX’s downfall continue with full force. Now, according to the most recent court filings, Alameda Research – SBF’s trading firm, had some privileges. The trading firm of Sam Bankman-Fried, Alameda Research, was secretly exempted from some aspects of the auto-liquidation protocol of FTX. It’s worth noting that SBF was also the acting CEO and founder of FTX. This is just a drop in the stream of information that was made public through the recent...