Tag Archives: AA News

The individuals accused of orchestrating the $8.5 million hack of Platypus Finance, an Automated Market Maker (AMM) protocol on Avalanche in February 2023, have been cleared of criminal charges by a French court, according to Le Monde. The defendants, identified as Mohammed and his brother Benamar M., were arrested approximately one week after attacking the platform. Defendants Assert ‘Ethical Hacker’ Defense Following the February hack of Platypus Finance, the efforts of...

In a year marked by a massive recovery run in the broader crypto market, the non-fungible tokens (NFTs) sector has displayed a contrasting performance. While industry leaders like OpenSea have historically dominated the NFT space, relatively newer players, such as the Blur NFT marketplace, have emerged as formidable contenders. As of December 3, the Ethereum NFT market experienced a notable uptick in transaction volume, reaching an impressive $34.786 million. This surge...

While the price of Bitcoin (BTC) ballooned to a 19-month high this weekend, Ethereum (ETH) has kept apace, surging beyond $2200 for the first time since May 2022. On-chain analysts at CryptoQuant have identified three drivers behind the crypto’s stellar performance over the past month. Ultrasound Money Takes Effect As shared by analyst MAC_D, ETH broke through a key resistance/support level at $2000 last week, which marks the average price at which Ethereum users began...

Itau Unibanco, Brazil’s largest bank, has officially entered the cryptocurrency exchange market, launching a trading service for its investment platform clients. The service debuted on Monday and enables users to trade Bitcoin and Ether, the two most popular cryptocurrencies. Itau Expands Crypto Trading with Diverse Portfolio According to a Reuters report, Guto Antunes, the head of digital assets at Itau, revealed that the bank plans to expand its offerings to include other...

Crypto fundraising in November saw a significant uptick compared to the amounts raised in prior months. Bitcoin miners took the lead this time, accounting for 90% of the deals ahead of exchanges and payments projects. Research by market intelligence platform Messari found that Bitcoin miners Northern Data and Phoenix Group raised more than half of the total amount accumulated by the crypto venture capital market. Bitcoin Miners Lead in Crypto Funding For November During the...

A circuit court in Estonia overturned a previous ruling allowing the extradition of two Estonian citizens charged with cryptocurrency fraud and money laundering to the United States. According to the court, the Estonian government did not consider certain circumstances before agreeing to extradite the individuals involved in the case. New Court Ruling Cancels Extradition Approval Ivan Turogin and Sergei Potapenko, who ran a virtual currency mining business called HashFlare,...

The global media giant Forbes announced the launch of its esteemed Under 30 list on the Ethereum blockchain. This initiative represents a milestone, combining conventional media’s reputation with blockchain technology’s transformative power. Ethereum-Based Under 30 List Fuses Media with Web3 Tech The Under 30 list, famous for highlighting the world’s most promising young entrepreneurs, innovators, and leaders, now takes a monumental leap. By utilizing the Ethereum blockchain,...

Northern Data – a German data center and Bitcoin mining operator – has spent another $360 million on GPUs to bolster its cloud computing services. The move signals further integration of Bitcoin miners into the AI sector where industry firms benefit from pre-existing infrastructure and economies of scale. Diving Deep Into AI Taiga Cloud – Northern Data’s AI-focused subsidiary – announced the purchase in a press release on Wednesday. The investment, worth 330 million euros,...

The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has placed sanctions on cryptocurrency mixing service Sinbad, alleging that the mixer served as a money laundering channel for the notorious North Korean hackers Lazarus Group. According to the enforcement agency, Sinbad has been used to launder millions of dollars worth of stolen crypto assets from high-profile hacks. Lazarus Group Preferred Sinbad to Launder Stolen Crypto Funds In a...

Bitcoin spot exchange-traded fund fervor has gripped institutional investors, which are piling funds back into crypto assets.  Institutional-grade crypto asset funds saw their largest weekly inflows since late 2021 last week, according to fund manager CoinShares.  A new record of inflows of 346 million was recorded for the week, the highest total observed in the past 9 weeks of inflows, it revealed.  Moreover, the global head of cryptocurrency products at CME, Giovanni...