Tag Archives: News

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Why have I been blocked? This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

A wallet associated with Three Arrows Capital (3AC), the now-defunct crypto hedge fund, has acquired an NFT for 20 ETH or just shy of $60,000. It placed a bid nearly three years ago, which the NFT’s previous owner accepted after all this while. The 50 ETH offered by 3AC was held in SuperRare’s escrow—the trade occurred on the SuperRare NFT marketplace. Wallets often do not relay amounts held in escrows for such trades as balances, which is why the bid made by 3AC went unnoticed by Teneo, the...

As Venezuela faces knee-deep hyperinflation and the Venezuelan bolívar drops in value steeply, those outside the country have turned to crypto to send funds to their family. The amounts have increased every year minus 2018. While such remittances traditionally occur through financial services companies specializing in cross-border payments, steep fees, long waiting times, and currency supply issues make it inconvenient for most. So, crypto has become how citizens receive funds from their...

US House and Senate will be tasked with voting on Biden vetoing legislators choosing to repeal the SEC’s Staff Accounting Bulletin (SAB 121) in May. This guidance received a bipartisan vote to stop it from going through, as it needed financial institutions to record their digital asset holdings on their balance sheets. Doing that would make it harder for institutions to integrate crypto-related products, stifling the mainstream adoption of the asset class. While the bipartisan vote to stop...

BTC ETFs witnessed the largest inflows in the past month, recording $143.1 million on July 5 despite concerning BTC price movement. The inflows display investors’ willingness to buy the dip and hold on until the asset’s price rises again. Analysts suggest that BTC is still bullish despite temporary setbacks caused by events like Mt. Gox repayments and the German government offloading millions of dollars in BTC to centralized exchanges (CEXs). They feel the asset will take an upward...

As the Nigerian SEC’s money laundering case against Binance continues, the Central Bank of Nigeria (CBN) on July 5 claimed that the exchange facilitated illegal transactions. According to Dr Olubukola Akinwunmi, Head of Payment Policy and Regulation at the CBN, Binance conducted banking and financial services without appropriate authorizations. Dr Akinwunmi testified in the Federal High Court of Abuja in front of Judge Emeka Nwite that the services Binance offered are reserved for banking...

PancakeSwap has launched an airdrop campaign that started at 10:30 AM UTC on July 5 and will end at 10:30 AM UTC on August 5. It will reward its users and governance participants with ZK tokens for their commitment to using and overseeing its multichain DEX platform. It will reward wallets for their ongoing commitment to using its services since it deployed the platform on the zkSync layer 2 a year ago. PancakeSwap has pledged 2,452,128 ZK tokens for this event. The integration saw...

The FTX saga continues, and this time, Sam Bankman-Fried’s family is involved in committing crimes related to illegal political financing in the US. A WSJ exposé revealed that SBF’s entire family was in on misappropriating FTX customer funds, and their misdeeds are well-documented through email chains the family members were involved in. Those funds witnessed alleged use in influencing the 2022 elections. The legal implications can affect SBF’s father, Joe Bankman, his mother, Barbara Fried,...

Only five miners remain profitable after bitcoin dropped to prices below $54,000, said f2pool, a crypto mining firm.  “With #Bitcoin trading below $58k, what is the current profitability for mining? At a rate of $0.08/kWh, ASICs less efficient than 23 W/T operate at a loss,” the miner said in an X post. The same post displayed a graph showing profitable miners at this price range. Source: f2pool on X At asset prices below $54,000, only four of Antminer’s rigs and one of Avalon’s remain...