Crypto news

Coinbase – which happens to be the largest US crypto platform – registered nearly $76 billion in spot trading volume, according to a new Bloomberg report. This marks a 52% decrease compared to the same period last year, and it is likely the lowest figure recorded since well before the company’s high-profile direct listing on the Nasdaq Stock Market in April 2021, which occurred just months before the peak in crypto prices. Trading volume serves as a vital metric for...

The team behind the popular Ethereum-native wallet warned earlier today that its application was removed from Apple’s app store. However, the issues seem to be resolved now, and MetaMask can now be downloaded by Apple users once again. Several users took it to X to complain on October 14 that they were unable to locate and download the MetaMask app from Apple’s App Store. Hours later, the team behind the wallet confirmed the speculation but said it “is not related to anything...

Zero-transfer phishing scams have continued to plague the crypto space, with bad actors siphoning millions of digital assets from unsuspecting victims. Blockchain analytics platform Bitrace revealed that the damage scale for zero-transfer phishing scams has increased significantly, with market participants losing more than 451 million Tether (USDT) on the Tron network. Investors Lose $451M USDT to Phishing on Tron Zero-transfer phishing is a new scamming technique that allows...

Conor Grogan, a director at Coinbase, recently took to X to point out that on-chain data reveals that Alameda Research minted 39.55 billion USDT tokens. This figure represents 47% of the current circulating supply of Tether. Alameda Research’s Role in USDT Minting In a recent revelation, Conor Grogan took to social media to share insights into the issuance of Tether (USDT). According to on-chain data, Alameda Research, a crypto investment firm, minted 39.55 billion USDT...

Bitcoin’s Layer 2 Lightning Network has witnessed a 1,212% growth in just two years. In August 2023, the network recorded approximately 6.6 million routed transactions, a substantial increase compared to the 503,000 transactions observed in August 2021, according to River’s Bitcoin-only exchange data. Surprising Growth Amidst Market Challenges River’s research analyst, Sam Wouters, shed light on this remarkable growth in an Oct. 10 report. Despite a 44% drop in Bitcoin’s...

TL;DR SBF Trial reveals manipulation of Alameda’s funds, resulting in $10 billion in outstanding loans. Scheme involving frozen Chinese government funds explored, including negotiation, using crypto addresses, and bribery. Ellison exposes attempts to use Saudi Crown Prince’s money, image concerns, doctored balance sheets, and FTX’s insolvency, raising industry regulatory and investor confidence questions. The SBF Trial just got crazier this week, as a lot of unexpected...

Bitcoin’s price tried to take over the $27,000 level in the past 24 hours, but the bears didn’t allow it, and the asset remains inches below that line. Most altcoins are with minor 24-hour gains after the recent price plunges, with XDC becoming today’s top performer. BTC Fails at Reclaiming $27K It was less than a week ago – last Sunday – when the primary cryptocurrency was trading a lot higher and was sitting well above $28,000. However, the Israel-Hamas conflict played its...

TL;DR Recent data suggests XRP adoption is still in early stages, with over 3.6 million wallets holding less than 500 XRP; around 17% of total XRP wallets (4.8 million) were created since the start of 2023, indicating rising interest. Large investors, or “whales,” have been accumulating XRP, with their holdings representing 27% of the total circulating supply, up from a previous value of $7.16 billion in October 2022. Analysts are optimistic about XRP’s future value,...

A former CEO of an investment firm has admitted to engaging in a “cherry-picking” scheme regarding crypto futures contracts and foreign exchange contracts. The practice caused losses for investors, with the ex-CEO using proceeds from the scheme for personal use. Fraudulent Cherry Picking Practice The founder and former CEO of investment firm Systematic Alpha Management LLC (SAM), Peter Kambolin, who between 2019 and 2021 acted as a commodity trading advisor and commodity pool...

Zac Prince – former CEO of collapsed crypto lending firm BlockFi – took the stand during Sam Bankman-Fried’s trial in New York City on Friday. The CEO discussed the size of his loans to the exchange’s sister trading desk, Alameda Research, and what exactly he knew about the state of their balance sheet as one of its major creditors. How BlockFi Went Bust Per testimony summarized by Inner City Press, Prince said BlockFi lent out “five to ten billion dollars” overall, of which...