Tag Archives: AA News

Tether co-founder Reeve Collins is launching a decentralized stablecoin that will compete with USDT in an increasingly crowded space that is still dominated by two players. The project will debut a stablecoin called USP on Ethereum and Solana blockchains in the second half of 2025, according to Bloomberg. Pi will use smart contracts to mint its USP stablecoin and minters will earn yields in the form of another token called USI. Competing With Tether The stablecoin will be...

A disturbing trend emerges in the demographic profile of pig butchering scam victims. While older adults have historically been the main targets of financial fraud, these scams now focus on younger, tech-literate individuals. The latest data reveals that those aged 30 to 49 represent the majority of reported cases. Pig Butchering Scams A 2024 study by Cyvers analyzed 150 major crypto platforms, including exchanges, payment service providers, and banks, with a focus on the...

Rosseti Group, Russia’s power grid company, reported losses exceeding 1.3 billion rubles – which is worth around $14.2 million – in 2024 due to unauthorized cryptocurrency mining operations, also known as “black” mining firms. As per a report by state-owned news agency TASS, damages were widespread across the company’s electrical networks. Illegal Mining Strains Russia’s Energy Grid The most significant impact was recorded in the North Caucasus region, which amounted to over...

VanEck has predicted that the United States could reduce its national debt by $21 trillion in the next 24 years. The firm’s analysts believe that this could be achieved by creating a one million Bitcoin reserve over the next five years. VanEck’s Estimate According to the asset management company, a U.S. BTC reserve could slash the national debt if the crypto’s price increases to $21 million by 2049. This would represent around 18% of the total U.S. debt at that time. “If the...

The leading crypto derivatives trading platform, Bybit, has outlined potential challenges awaiting the Japanese yen carry trade in 2025 as the Bank of Japan (BoJ) implements policy changes and faces evolving economic conditions. According to the report, the yen’s status as a primary funding currency in the foreign exchange (FX) market could be questioned in the coming months. The evolving Japanese financial landscape could see an increased risk of rapid unwinding in yen carry...

The use of cryptocurrency for payments has seen significant growth, as evidenced by Binance Pay’s expanding user base and transaction volume in 2024. According to data provided by Binance and analyzed by CryptoQuant, the number of Binance Pay users tripled from the previous year, reaching 41.7 million. This rapid adoption highlights the increasing role of crypto in everyday transactions. Stablecoins Lead the Charge The total transaction volume processed through Binance Pay in...

The median cryptocurrency investor saw their portfolio grow by $5,482 in 2024, according to a recent report by crypto tax and portfolio tracking platform CoinLedger. The study analyzed data from more than half a million users, highlighting key trends in the digital asset market, including top-performing tokens and the impact of regulatory changes on trading platforms. Winners and Losers According to the report shared with CryptoPotato, SUPER, the native token of the...

Ho Kai Xin, a former payroll processing staff member at WeChain Fintech Singapore, has been sentenced to nine years and 11 months in jail for embezzling over $5.7 million. WeChain Fintech Singapore, which was contracted to manage payroll for Bybit Fintech, employed Ho as a payroll processing staff member. Ho, who was responsible for processing salaries for approximately 900 ByBit employees, exploited her position by manipulating Microsoft Excel files to divert company funds...

On-chain analytics platform Nansen has released a report examining the aftermath of the controversial LIBRA token. Its findings indicate that 86% of traders who bought the cryptocurrency collectively lost about $251 million, while a select group of winners walked away with at least $180 million in profits. A Rapid Rise and Fall LIBRA debuted on Valentine’s Day, gaining instant traction after Argentine President Javier Milei appeared to endorse it in a post on X that has since...

The cryptocurrency exchange Bybit, which just suffered a major security incident, is now launching a recovery bounty program. The team wants to give back 10% of the funds that anyone is able to recover, according to a press release shared with CryptoPotato. As reported previously, Bybit suffered a security breach, resulting in the theft of over $1.4 billion in ETH. The attack was carried out by the infamous Lazarus group, an organization allegedly run by the North Korean...