Crypto news

On Aug. 15, crypto compliance and research firm Chainalysis released the first part of its 2024 crypto crime report. The firm revealed that aggregate illicit activity on-chain has dropped by 19.6% year-to-date, down from $20.9 billion to $16.7 billion. It added that this demonstrates “that legitimate activity is growing more quickly than illicit activity.” Part 1 of our mid-year #cryptocrime update is here! Illicit on-chain activity dropped by nearly 20% YTD, but stolen fund...

Nearly a month after a massive hack led to the loss of $234 million from WazirX’s Safe Multisig wallet, the Indian crypto exchange has restored investor balances. However, the timeline for when users can withdraw their funds remains unclear, causing frustration and anxiety among investors. On August 16, WazirX provided an update stating that they are focusing on resolving two main issues: defining the proper approach when dealing with the balances in the Indian Rupee (INR) and the issues...

For the week ending Aug. 17, Bitcoin price continued its shaky action, even as low consumer inflation signaled an upcoming dollar supply glut and the S&P 500 Index rallied. The latest U.S. consumer inflation readout gave the Fed more ammo to justify a big rate cut in September. That’s bullish news for Bitcoin, because more dollars against the same supply of BTC is a recipe for price gains. Meanwhile, stocks are up again and closing in fast on their July record levels....

The court previously acknowledged the crypto aspect of an individual’s unpaid salary but did not order the employer to pay the tokens. The court enforcing crypto-related salary payments in a new case this year legitimizes daily payments using the asset class in the UAE. The Dubai Court of First Instance recognized the validity of crypto payments as a valid medium of salary payments under employee contracts. This development occurred as the court ruled in favor of an employee who was owed...

Vitalik Buterin donates 200 ETH ($524K) to the Animal Welfare Fund. This donation aligns with Buterin’s idea of using cryptocurrency for charitable causes. Ethereum co-founder Vitalik Buterin has once again used digital currency to make a major charitable donation. Buterin recently sold 40 ETH worth of Neirodog meme coins, totaling around $533K, and distributed the profits to several charities. This donation is part of Buterin’s larger plan of directing proceeds from animal-themed meme coins...

The Bitcoin network hashrate hit a new all-time high earlier this week following increased selling from smaller mining entities. At the same time, the miner hash price has plunged to a record low. According to a report from CryptoQuant, Bitcoin’s hashrate currently stands at 627 exahashes per second (EH/s), representing a significant recovery from an 8.5% drawdown in July. The spike comes as BTC struggles to remain above $58,000 and trades at a level 20% below its all-time...

Malaysia has officially adopted Worldcoin’s iris scan technology as part of its digital transformation strategy. This significant step aims to improve the security and efficiency of digital identity verification across the country. The adoption stems from a partnership with the Worldcoin Foundation, Tools for Humanity (TFH), MyEG, and MIMOS Berhad, which is Malaysia’s governmental research and development body. It aims to align Worldcoin’s highly secure biometric option called ‘proof of...

Turkey’s new crypto legislation has sparked an influx of 47 license applications. 76 crypto exchanges, including Coinbase and KuCoin, have applied for licenses in Turkey. Turkey has witnessed an enormous spike in interest from crypto companies seeking to enter the industry. The Turkish Capital Markets Board (CMB) has revealed that 76 cryptocurrency firms have sought licenses under the newly adopted legislation. Notable candidates include Bitfinex, Binance TR, and OKX TR.  Crypto Exchanges...

Republican presidential candidate Donald Trump has announced that Howard Lutnick, CEO of Cantor Fitzgerald, will co-lead his transition team if he is re-elected in 2024. Lutnick has been a significant figure in the financial services sector and a supporter of cryptocurrency. He will work alongside Linda McMahon, the former U.S. Administrator of the Small Business Administration. Trump’s vice presidential pick, J.D. Vance, and Trump’s sons, Donald Trump Jr. and Eric Trump will serve as...

Investigations into a multi-million dollar hack on the omnichain tokenization platform Holograph have begun to yield results. French authorities have arrested two individuals who may have been involved in the attack. According to a tweet by the official Holograph X account, the Italian Directorate of Anti-Mafia Investigations, in collaboration with multiple enforcement agencies, including Europol, France’s Office for the Prevention of Cybercrime, and the Paris Search and...