Tag Archives: AA News

Amidst regulatory tussle, an SEC disclosure revealed an expensive bill for Coinbase CEO Brian Armstrong’s security benefits. The exec was granted security benefits of $6.3 million last year, representing more than triple the amount his security cost Coinbase the previous year. According to the public document, Armstrong’s total compensation for the whole of 2022 was $7.5 million, and received a flat salary of $1 million, while the remaining can be characterized as security...

Bitcoin crashed on Friday down to $26,166 and continues struggling to break back above the $26,500 level. What gives? Crypto market analytics platform CryptoQuant said the latest fall may be due to a coordinated FUD campaign against the primary cryptocurrency, which triggered a wave of liquidations this week.  The US Government Did Not Sell Its BTC In a post on Friday, CryptoQuant analyst IT Tech called attention to a wave of online, “coordinated fake news” related to the US...

Elon Musk announced that he has found a new leader for Twitter and will shift into a new role as chief technologist. While Musk is yet to name his successor, reports suggest that NBC Universal executive Linda Yaccarino could potentially replace him as the new leader of the microblogging platform. In a tweet on May 11th, Musk said the company’s new CEO will start in about six weeks. “Excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks! My...

The authorities of New York state proposed certain amendments to the law that could allow residents to settle bail bonds in stablecoins instead of fiat currency. The bill could become official six months after the relevant regulators greenlight it. Domestic lawmakers have previously introduced legislation that aims to make certain cryptocurrencies an official means of payment for civil penalties, fines, taxes, and other fees. Another Crypto Step for New York State New York...

California lender PacWest Bancorp (PACW) fell over 20% on Thursday after the company revealed it had lost a significant portion of its deposits.  This follows a string of US regional bank failures this year that were preceded by similar red flags.  Depositors Flee From PacWest Per its quarterly report filed with the Securities and Exchange Commission, PacWest said its deposits declined by 9.5% last week – mostly occurring on May 4 and 5. This, according to the bank, was in...

ZachXBT has accused several influencers of engaging in pump-and-dump scams and profiting from the misery of others. This time, the on-chain sleuth has targetted yet another figure who goes by the name ‘DannyCrypt,’ for allegedly dumping on his followers. The crypto influencer in question was accused of receiving 2% of the supply of a certain token to assist with marketing. However, 15 minutes after receiving the tokens, he allegedly dumped the majority of them for $57k (31...

While Bitcoin had whittled down waitlisted transaction orders by Wednesday, network congestion remains high. Median confirmation time hovered markedly above ten minutes. The on-chain metric for Bitcoin network fulfillment sits at a high unseen since Feb 2023 and Dec 2022. Meanwhile, hundreds of thousands of transactions at a time sit waiting to be confirmed. That’s far above normal levels in the tens of thousands. The extent of network lag is so high that at least one...

Bitcoin is up (YTD), banks are collapsing, and the Federal Reserve seems to be approaching the end of its monetary tightening mission. Does that mean the bull market is back in action? CryptoPotato spoke with crypto market analytics firm CryptoQuant at Consensus 2023 to discuss all things related to Bitcoin’s price – including its place in the market cycle, its correlation to gold, and its role during the ongoing US banking crisis. Bullish Times Ahead for Bitcoin When asked...

Nexo – a popular cryptocurrency lending platform – is dissolving two business units based in the United Kingdom while it deals with regulatory issues in other parts of Europe and North America.  The latest steps are part of a “restructuring” effort that will still involve Nexo continuing operations within the country.  As reported by BNN Bloomberg, filings from this month show that the lender has applied to remove both Nexo Financial Services Ltd. and Nexo Clearing and...

Pepecoin (PEPE) made quite a significant upheaval in the sluggish crypto market. From less than $1 million at the launch, its market cap swelled close to $2 billion in just weeks. The frog-themed memecoin in the crypto universe dominated by dog-themed coins is bound to trigger funny memes. And one such meme attempt by Coinbase doesn’t seem to have landed well, and the crypto exchange is at the receiving end of a “well-deserved” backlash from PEPE fans and holders. PEPE as a...