Tag Archives: AA News

Changpeng Zhao (aka “CZ”) – the founder and former CEO of crypto exchange giant Binance – has been sentenced to 4 months in prison after a hearing in a Seattle courthouse on Tuesday. The sentencing follows CZ’s guilty plea to running afoul of know-your-customer and anti-money laundering requirements at his exchange in November. During the hearing, Judge Richard Jones acknowledged tht CZ had “accepted responsibility” for his actions, and that his actions at Binance were of a...

Bitcoin miners are beginning to feel the adverse effects of the latest halving, with industry revenues at their lowest point since early 2023. The tighter profit margins raise questions about which industry firms can stay afloat during Bitcoin’s next halving epoch, as well as how Bitcoin’s market price might be impacted. Steep Decline In Miner Revenue According to data shared by on-chain analytics platform CryptoQuant, Bitcoin’s “Puell Multiple” plummeted sharply immediately...

While Bitcoin has been recognized as a commodity, the same cannot be said for Ethereum’s status, which has been more ambiguous due to its initial coin offering (ICO) in 2014. However, a new report suggests that the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, seem to have believed that Ethereum is an unregistered security for a long period of time. SEC and Gensler’s Beliefs Exposed According to the latest FOX report, court documents filed by...

According to Glassnode data, Runes transactions generated $117 million in cumulative Bitcoin network fee revenue post-halving, with $62.4 million amassed on the day of the halving itself. However, this rise proved to be short-lived, recent data reveals that on April 28, Runes transactions only contributed $1.03 million in fees. Runes Dominates Bitcoin Network Post-Halving On April 20, the day of the halving, transaction fees within the Bitcoin network saw a notable spike....

Is the Bitcoin bear market already starting to rear its head? One new piece of market data suggests this could be the case. As of Monday, Bitcoin is entering what could be its fifth negative weekly close in a row. Historically, Bitcoin has never closed five consecutive weeks in the red outside of a bear market environment. A Slow But Steady Pullback Twitter user MisterCh0c took notice of the pattern on Monday, and was quick to receive backlash from more bullish followers....

Spot Bitcoin ETFs have caused a major stir in the cryptocurrency industry, unlike anything seen before. Following the US and Hong Kong, Australia is now gearing up for a series of launches of Bitcoin exchange-traded funds. The ASX has received applications from at least two organizations, and there’s another one in the pipeline Australia Braces for Bitcoin ETF ASX Ltd., which manages about 80% of the country’s equity trading, is expected to approve the first spot Bitcoin ETFs...

On-chain sleuth ZachXBT has published a report on the history of Lazarus Group – the infamous North Korean hacking group responsible for some of the largest crypto thefts in the industry’s history. The article tracks 25 hacks affecting individuals and companies in crypto through which Lazarus laundered $200 million from digital assets to fiat between 2020 and 2023. Lazarus Group’s $200 Million Money Trail The analyst examined several six-figure crypto wallet hacks over the...

The Ethereum restaking protocol EigenLayer has published a whitepaper with new details about its soon-to-launch Eigen token, which will be airdropped to community members next month. According to the Eigen Foundation’s website, season 1 of the airdrop will distribute 5% of the token supply. Eligible airdrop recipients include those who staked directly with EigenLayer, and those who staked using Liquid Staking Tokens (LSTs). Meanwhile, people who interacted with...

DYDX, the native token of the dYdX Chain, has evolved from a governance-only coin to a dynamic, multifaceted asset within six months of its launch. According to a blog post by the dYdX Foundation, DYDX has become the powerhouse of the layer-1 blockchain, enabling decentralized governance and allowing users to stake their tokens for rewards. A Timeline of DYDX’s Launch DYDX was launched in October 2023 alongside the dYdX Chain. Before that, the dYdX Foundation had launched...

Binance’s dominance in Bitcoin trading outside the U.S. is dwindling as offshore exchanges expand their reach and regulatory landscapes evolve, reshaping the competitive dynamics of the digital asset industry. According to data from Kaiko, Binance, once dominating Bitcoin trading markets outside the U.S., has witnessed a decline in its share of BTC trading over the past year, dropping from 81.3% to 55.3%. Binance Loses Global Market Share Similarly, Binance’s proportion fell...