Tag Archives: AA News

After the US Securities and Exchange Commission made history earlier this year by approving almost a dozen spot Bitcoin ETFs, all eyes in the community turned to the next digital asset in line – Ethereum. While the landscape didn’t look promising at first, it changed several weeks ago when, somewhat surprisingly, the agency greenlighted eight spot Ethereum ETFs. However, the launch date is still unknown. When the spot BTC ETFs were approved by the securities regulator, they...

Ethereum has continued to face challenges staying above the $4,000 mark, mirroring the lack of momentum in the broader market. While the investors await for a rally, data suggest a surge in demand for the world’s largest altcoin. Permanent Ethereum Holders Bought Big According to CryptoQuant head of research Julio Moreno’s recent findings, Ethereum’s demand has spiked owing to a significant buying spree by “permanent holders” of the cryptocurrency. In fact, this cohort of...

Omnichain tokenization platform Holograph’s native token, HLG, fell nearly 80% in value following a recent hack. The malicious actor exploited a vulnerability in the protocol’s operator contract, minting 1 billion HLG tokens that were initially valued at approximately $14.4 million. The Holograph Exploit Holograph confirmed the breach on their X account, assuring users that the initial exploit has been patched and efforts are underway with cryptocurrency exchange partners to...

Riot Platforms has announced the purchase of an additional 1,432,063 shares of Bitfarms. The acquisition, completed on June 10 at approximately $2.7 per share, represents an investment of around $3.87 million. This latest move brings Riot’s total holdings to approximately 57.62 million shares, accounting for about 14% of Bitfarms. Riot’s Ongoing Takeover This announcement is part of Riot’s ongoing takeover attempt of Bitfarms. Last month, Riot made a bid to acquire Bitfarms...

Stablecoin issuing company Paxos has laid off 20% of its workforce, decreasing its employee count by 65 individuals, Bloomberg reported Thursday, citing an internal email. According to the report, Paxos’ chief executive officer and co-founder Charles Cascarilla said the reduction in headcount would allow the company to capitalize on future opportunities in the tokenization and stablecoin sectors. Paxos intends to phase out some of its services to focus on tokenization and...

The UwU Lend protocol, previously targeted in a nearly $20 million hack on June 10, is facing an ongoing cryptocurrency exploit that has so far resulted in the theft of $3.7 million. This development comes as the protocol has been making efforts to reimburse its users following the $19.3 million June 10 hack. $3.7 Million Hack Cyvers, an on-chain data analytics platform, was the first to alert UwU Lend about the ongoing exploit. According to its findings, the bad actors...

President Joe Biden’s reelection campaign is reportedly considering accepting crypto donations via Coinbase. On June 12, The Block reported that Biden’s team was attempting to engage crypto-focused voters in response to rival candidate Donald Trump’s endorsing of the industry and acceptance of crypto donations. According to the report, the Biden team is in discussion with Coinbase Commerce, a payment service enabling merchants to accept crypto which has already facilitated...

Bitcoin’s price surged to $70,000 briefly this week but faltered soon after failing to sustain the momentum and took a sharp turn. At the time of writing, the world’s largest cryptocurrency is trading at just over $67,000. Still, with exchange supply dropping to December 2021 lows, data suggest that a bullish reversal could be in the offing. Bitcoin Scarcity on Exchanges According to Santiment’s tweet, bitcoin’s supply on exchanges has reached its lowest since December 2021....

Business intelligence firm and long-time Bitcoin holder MicroStrategy announced plans to offer $500 million aggregate principal amount of convertible senior notes due 2032. Interestingly, the proceeds of this initiative will be used to buy more Bitcoin and for other corporate purposes. According to its official announcement, the NASDAQ-listed company also intends to grant initial buyers of the notes an option to purchase up to an additional $75 million in principal amount of...

Terraform Labs has reached a settlement in its lawsuit with the Securities and Exchange Commission (SEC), with the defunct crypto firm agreeing to pay a $4.47 billion fine for its fraudulent activity related to the defunct Terra blockchain. In a Wednesday letter to US District Judge Jed Rakoff, the SEC asked for approval of its “proposed final consent judgement” concerning Terraform and its famous co-founder, Do Kwon. The agency claimed that the seismic penalty addresses the...