Tag Archives: social

The United States Department of Justice (DOJ) has charged and arrested Roger Ver, an early BTC investor known as Bitcoin Jesus, for evading taxes of up to $50 million. According to an official release, the DOJ unsealed the indictment against Ver on April 29 and ordered his arrest in Spain during the weekend. U.S. DOJ Charges Ver for Tax Evasion The DOJ’s indictment accused Ver of filing false tax returns, committing mail fraud and tax evasion between 2011 and 2017 through his...

Binance founder and former CEO – Changpeng Zhao a.k.a CZ – received a four-month prison sentence after pleading guilty to violating US anti-money laundering laws at the world’s largest cryptocurrency exchange. In the first tweet following the sentencing, CZ revealed his intention to remain a passive investor and holder in the crypto industry while simultaneously highlighting the importance of compliance in the industry. CZ Reacts In his final tweet before beginning his...

The trading day continues in an even more painful manner for bitcoin as the primary cryptocurrency took another hit and slumped to its lowest price position in over two months of under $59,300. The altcoins’ situation is worse, with ETH dropping below $3,000, SOL dumping by 8%, and a few double-digit price declines. Bitcoin/Price/Chart. Source: TradingViewIt was just earlier today when the bitcoin bulls had taken charge and initiated an impressive leg up that resulted in the...

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...

Bitcoin’s fourth halving is already in the history books, and the block rewards have been reduced to 3.125 BTC. Although historically the event has been named the catalyst of a new bull cycle, there’s a lot of controversy now, with many claiming that the effects of this halving are declining. Aside from that, though, there are many other bullish developments on the Bitcoin front that might get you excited in the coming months. If you’re still feeling bearish, you need to...

The portion of Bitcoin miner revenue coming from transaction fees has fallen significantly after surging on the day of the last halving event. A CryptoQuant report revealed that transaction fees now represent 35% of total miner revenue, a significant decline from the 75% recorded on April 19. Transaction Fees Surge During Halving The fourth Bitcoin halving, which took place last Friday, slashed miner block rewards by half to 3.125 bitcoins (BTC), resulting in daily issuance...

Bitcoin’s price actions were quite bearish for the past few days once again as the asset fell to $62,300 yesterday but managed to regain almost two grand since then. The altcoins have also turned green today, with ETH jumping above $3,300 and SOL reclaiming the $140 level. BTC Challenges $64K It was just over a week ago when BTC went through its fourth halving, slashing the block rewards by half for the miners. At the time, the asset’s price had experienced tons of volatility...

Upbit, a cryptocurrency platform based in South Korea, is responsible for over 80% of the country’s trading activity and has become among the world’s leading five exchanges in terms of trading volume. According to a Bloomberg report, Upbit’s customers were responsible for nearly a fifth of the total deposits from its major banking partners last year. Upbit’s Dominance Sparks Concerns Upbit’s dominance has drawn criticism and concerns, particularly as South Korea moves to...

Institutional investors in Canada substantially increased their cryptocurrency exposure last year compared to the previous bull market cycle, according to a recent survey by accounting firm KPMG. The consulting group’s bi-annual survey, “Institutional Adoption of Cryptoassets,” received 65 responses, including 31 institutional investors managing over $500 million in assets and 34 financial services organizations. Institutional Interest in Crypto Assets Surged in 2023 In its...