Crypto news

Decentralized finance (DeFi) protocol Linear Finance has fallen victim to an attack that resulted in the complete depletion of liquidity in its Linear USD (LUSD) token. Following the incident, Linear Finance’s team apologized to the community and implemented various safety measures. LUSD Price Collapses to Zero On Sept. 21, Linear Finance announced it had experienced a security breach, leading to the complete drainage of all LUSD liquidity on the PancakeSwap and Ascendex...

Crypto scams are more prevalent today than ever. Not long ago, two residents of Southborough were scammed out of more than $31,000 in bitcoin by individuals posing as federal authorities. Crypto Scams Keep Happening One individual lost $30,000 in crypto, while the other lost $1,800. Police lieutenant Sean McCarthy, who oversaw the investigation of the incidents, commented in a recent interview: We’re working with local and state authorities, as well as forensic...

Until FTX collapsed in November, FTX Europe was the only firm offering special crypto derivatives (perpetual futures) to the European market. Reports have emerged that Coinbase considered acquiring FTX Europe after the exchange’s bankruptcy in November. While the acquisition talks were not successful, Coinbase’s interest in FTX Europe underlines how important derivatives have become to Coinbase’s global strategy. Whereas spot trading volumes have dipped significantly, there is a greater...

The recent decision by Bybit to suspend its operations in the United Kingdom is not an isolated incident within the crypto industry. In a sudden turn of events, crypto exchange Bybit has announced its decision to suspend its operations in the United Kingdom. This move comes just a week after the company expressed its commitment to explore all available options to continue operating within the country. Bybit Exchange’s Proactive Response to FCA The company has outlined a timeline for these...

Kaiko Research recently put out a new report suggesting the bitcoin halving set to occur in 2024 isn’t going to aid the world’s number one digital currency. Kaiko Research on the Upcoming BTC Halving There have been many BTC halving events over the years. 2016 and 2020 were big ones, and each time, without fail, they have helped bitcoin along its journey in reaching new price highs. During each of those years, bitcoin reached new price pinnacles that had investors...

Bitcoin’s price increased by a little less than 1% in the past seven days. The week was, overall, positive for the industry as the total market capitalization approaches the $1.1 trillion cap. The biggest news of the week is undoubtedly the US FOMC meeting that happened on Wednesday. According to the official announcement, the central bank took the decision to maintain the target range for the federal fund rate at 5-1/4 to 5/12 percent. The statement also noted that job gains...

A United States judge has approved the Justice Department’s (DOJ) motion to bar all witnesses proposed by Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, from testifying at his upcoming trial. According to an order filed with the U.S. District Court for the Southern District of New York, Judge Lewis Kaplan excluded the testimonies of SBF’s proposed witnesses but denied the disgraced CEO’s motion to bar the DOJ’s witness. SBF’s...

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Binance Coin. Ethereum (ETH) Since June, Ethereum has formed a large ascending triangle. However, yesterday, the price fell under this formation and closed the week with a 2% loss. This puts ETH in a difficult position as it signals this correction may just be starting. There is good support at $1,440 and ETH may test this level before any sustained recover can be had. So far, the price action remains...

Binance – the largest and most popular digital currency exchange in the world – has hired a new deputy chief compliance officer (CCO) and global money laundering reporting officer. The positions will be taken over by Kristen Hecht, who according to a recent blog post, has more than 17 years of experience fighting both financial terrorism and illicit monetary activity. Binance Now Has Kristen Hecht Aboard Hecht expressed her excitement about the job in a recent...

Meanwhile, Alibaba has put a hold on Hong Kong IPO plans for its grocery chain Freshippo. The Alibaba Group’s logistical arm Cainiao Network Technology is set to reportedly file for its Hong Kong Initial Public Offering (IPO) by next week, making it one of Alibaba’s first units to go public. According to sources familiar with the matter, the logistics firm is looking to raise more than $1 billion from the sale share. They added that the valuation has not been decided on and no final...