Tag Archives: AA News

Minneapolis Federal Reserve President Neel Kashkari has found himself on the wrong end of a backlash after stating that most cryptocurrency transactions involve drugs or illegal activities. The comment from the official, a known crypto skeptic, did not go unchallenged, with several members of the community calling him out for it. Fed Official Says Crypto Mostly Used for Illegal Activity Kashkari was at a town hall meeting in Chippewa Falls, Wisconsin, when a member of the...

In recent weeks, Pump.fun, the popular Solana-based platform for launching meme coins, has been consistently selling large volumes of SOL. According to the latest findings by Lookonchain, the Fee Account of Pump.fun, sold an additional 40,000 SOL, worth around $6.68 million, on October 2nd. The sale has prompted speculation about its broader market impact. Shortly after the development, SOL’s price briefly faced a drawdown to $163 before climbing back up to the press time...

WazirX founder Nischal Shetty has responded to allegations that the company transferred $75 million worth of crypto assets to two major exchanges without informing users. The situation arose after the Indian crypto platform disclosed more than 240,000 wallet addresses as part of the requirements of a four-month moratorium granted to it by a Singapore court following a $235 million hack in July. CoinSwitch’s Accusation Unpacking the disclosure in an October 21 post on X,...

Fintech giant Stripe has finalized a deal to acquire stablecoin platform Bridge for $1.1 billion. This purchase marks the largest acquisition in the crypto industry to date. Record $1.1 Billion Deal TechCrunch founder Michael Arrington revealed the news in a post on X, stating, “This deal is done. $1.1b.” Bridge, co-founded by Sean Yu and Zach Abrams, provides software tools enabling businesses to accept payments in stablecoins. The platform allows companies to create, store,...

Yuichiro Tamaki, leader of Japan’s Democratic Party for the People (DPP), has proposed a crypto tax reform to support the growth of a token economy, including Web3 and NFTs if he wins the election. His plan would lower the taxation on crypto gains to a 20% separate declaration tax instead of treating them as miscellaneous income. Proposal for Lowering Crypto Taxes According to the campaign document, Tamaki suggested allowing losses to be carried forward for three years and...

More than 100 physical attacks have been perpetrated against Bitcoiners, according to the “Known Physical Bitcoin Attacks” archive, maintained by Casa’s co-founder Jameson Lopp. The archive catalogs a concerning pattern in the crypto landscape: a rise in physical attacks against those possessing BTC and other digital assets. While numerous incidents go unnoticed, this list serves as a sobering reminder of the perils of crypto ownership. Rising Threats The archive chronicles...

Bitcoin’s price took a turn for the worse in late Monday evening in Europe. The sellers have reappeared and established control, pushing the cryptocurrency below $67,000, losing about 2.5% in the past 24 hours. The move has pushed the total liquidations in the derivatives market to about $200 million. In the past four hours alone, almost $70 million worth of leveraged positions—the majority of them long — were wiped off the market. Source: CoinglassThis latest move caused a...

As the US presidential race becomes more intense with less than a month away until Election Day, data from last week suggests that digital asset inflows have surged to $2.2 billion. This figure marked the highest level since July, spurred by optimism for a potential Republican success in the election. Inflows Surge Amid US Election Optimism According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, the trading volumes of investment products have...

Ethereum co-founder Vitalik Buterin has shared insights into Ethereum’s next upgrade on its technical roadmap – The Scourge. It aims to fix issues involving centralization concerns in Ethereum’s staking and block production. Buterin has proposed several fixes to these shortcomings the layer-1 blockchain faces. Ethereum’s Scourge to Reduce PoS Centralization Following Ethereum’s Merge upgrade in late 2022, the smart contract blockchain transitioned from a proof-of-work (PoW)...

The Hong Kong Police Force (HKPF) has dismantled a massive cross-border fraud operation that used deep fake technology to con men into phony cryptocurrency investments. The scam targeted men through fake online romances, with the victims reportedly being conned out of approximately $46 million. 27 Arrested in Raid on Fraud Center Local media reports revealed that the police identified a group operating from a fraud center located in a Hung Hom industrial unit between August...