Tag Archives: AA News

Venus Protocol, a prominent lending market on the BNB Chain, has denied allegations of a major security breach over the past weekend. These speculations initially suggested a $54 billion exploit, as blockchain security firm SlowMist reported. Venus Protocol Refutes Claims of Major Exploit Brad Harrison, the Head of Venus Labs, addressed these concerns on December 10 through a post on X. Some facts: Binance Oracle, which supports the asset of snBNB in the *isolated* pool...

Amidst a market-wide correction, Avalanche’s native token – AVAX – has emerged as an outlier, surging by almost 12% over the past day, pushing its yearly gains to 165%. The asset was currently trading at $35.63 – a level not seen since May 2022. AVAX has not only bucked the prevailing trend but also thwarted sell-off pressure following the recent token unlock event scheduled on November 24, during which approximately $213.35 million worth of AVAX was released into the...

The IRS Criminal Investigation (CI) has disclosed its top 10 cases of 2023, representing the most significant incidents of the previous year. CI Chief Jim Lee highlighted that billions of dollars in fraud, victims across the globe, and criminals are all about personal gain. In a statement to CryptoPotato, Lee said that the CI investigation successfully dismantled international tax schemes that targeted individuals’ personal information, probed multi-level marketing schemes...

According to a report from the Internal Revenue Service (IRS) criminal investigations division, tax evasion has emerged as a significant area of focus in crypto investigations. More than half of all probes conducted in the last fiscal year were related to tax matters. This news coincides with the IRS actively seeking input from stakeholders on its upcoming framework centered around cryptocurrencies. Crypto Tax Crimes Surged The report indicates that three years ago, more than...

According to research by Bybit, institutional traders have expressed a significant bullish sentiment towards Bitcoin, mixed sentiments regarding Ether, and a general air of skepticism towards altcoins. From December 2022 to September 2023, the study provides an insightful look into trading behaviors and asset allocation amidst significant market fluctuations. Institutional Traders Favor BTC, Moving Away from Alts The study reveals a significant shift in the institutional...

The crypto industry is at an unprecedented inflection point, which could serve as a “generational investment opportunity” that will be fleeting as more institutions enter the space and network effects lead to exponential growth, according to new research. Digital asset manager Hashdex, which is currently eyeing a spot Bitcoin ETF approval, believes prospects for such funds in the US are as high as ever, and as regulated investment vehicles become more common, the role of...

“Tradfi” may be beginning to rotate into the ETH ETF trade after two months. As per a new report by Reflexivity Research, the annualized basis on CME has consistently increased, reaching over 18%. Bitcoin’s open interest in CME has also experienced continuous growth, surpassing $4.5 billion since the trend began two months ago. Notably, an interesting pattern has emerged when comparing CME activities between Bitcoin and Ethereum. Velo Data’s analysis reveals that the futures’...

On December 5, 2023, Lugano, a Swiss City, announced the incorporation of the cryptocurrencies Bitcoin (BTC) and Tether (USDT) for tax and other municipal fee payments. This makes part of Lugano’s collaborative plans with Tether, Plan B, fashioned to revitalize the City’s financial system using Bitcoin tech. Lugano Dives into the World of Crypto Before the latest developments, Lugano only allowed crypto payments to be made directly on the City’s official online portal....

Investment management firm VanEck has unveiled its 2024 predictions, forecasting not only record-breaking highs for Bitcoin but also an anticipated peak in the NFT market, signaling a significant transformation in the industry. The introduction of spot Bitcoin ETFs is expected to align with the prolonged anticipation of a U.S. recession, while the forthcoming halving event may not generate as much impact as previously anticipated. New Peak for Bitcoin But No Flippening for...

Bitcoin experienced a notable price uptick in the past few weeks, surpassing the $40,000 mark and reaching its highest point since April 2022. This upward momentum was fueled by an increasing demand from US investors, evidenced by a positive Coinbase premium. Experts suggest that the next target level for the leading crypto is above $50,000. Bitcoin Targets $50K to $53K According to the latest report from CryptoQuant, network activity indicates a potential price target...