Tag Archives: social

Tether, the company behind USDT, the largest stablecoin by market capitalization, has announced plans to double down on its artificial intelligence (AI) focus and recruit relevant talent to that effect. According to an official release, the stablecoin provider said the move highlights its dedication to advancing AI efficiency and accessibility in the technology sector. Tether Strengthens AI Focus Tether’s latest move will see the firm focus on key areas like the development...

Over the weekend, the fifth richest Bitcoin address transferred $6 billion worth of the asset to three new wallets. The transfer occurred amid increased institutional interest in BTC, driven perhaps by the upcoming halving in April. Bitcoin Wallet Transfers $6 Billion in Bitcoin Initially funded with 94,500 BTC ($6.05 billion) in 2019, the address remained untouched until last weekend when it was split and distributed across three new addresses, according to blockchain...

Worldcoin is yet again under scrutiny due to its “proof of personhood” project in Europe, which seeks to expand its user base by having individuals verify their humanity through eyeball scans. As per the Worldcoin website, the project has over 4.5 million sign-ups from 120 countries. Worldcoin Ordered to Halt Biometric Data Collection According to Reuters, the Portugal data regulator, CNPD, has mandated Worldcoin to suspend its collection of personal data for 90 days. CNPD...

As the much-anticipated Bitcoin halving event looms in late April, a migration of outdated mining equipment from the United States to regions offering cheaper electricity is underway. This migration is driven by the need to maintain profitability due to reduced mining rewards and escalating operational costs. US Bitcoin Miners Prepare for Halving According to a Bloomberg report, approximately 6,000 aging Bitcoin mining machines are set to be decommissioned in the U.S., with...

Base, Coinbase’s layer-2 blockchain initiative for reducing Ethereum transaction fees, seems to be witnessing massive demands of increased network activity. As a result, its TVL also rose sharply, hitting a new milestone, surpassing $2 billion this week. One of the major reasons for the surge in activity of Base was the activation of the Dencun upgrade. Base’s TVL Growth According to data from L2Beat, Base’s current TVL stands at $2.27 billion, increasing by over 230% YTD....

Emin Gün Sirer, the founder and CEO of Ava Labs, has sounded an alarm on the rise of substandard layer 2 (L2) solutions in the crypto space. Drawing parallels with the fallout from the FTX collapse, he cautioned investors about the dangers associated with investing in these “trash” projects. Ava Labs Founder Highlights L2 Red Flags On March 23, Sirer took to X to voice his concerns about the crypto community’s habit of ignoring warning signs, especially regarding people seen...

CommEX, a crypto exchange that previously took over Binance’s operations in Russia after it decided to exit the country, has revealed its intention to cease operations in the country. Binance had initially announced its departure from Russia in September 2023, stating that the process would take approximately one year to complete. CommEX Announces Gradual Wind-Down of Operations In a post on X, CommEX Russia mentioned that the exchange will wind down operations gradually...

The Nigerian government has slammed the world’s largest cryptocurrency exchange, Binance, with four counts of tax evasion charges as the saga between the entities deepens. According to a report from local media Premium Times, the Federal Inland Revenue Service (FIRS) filed the charges at a Federal High Court in the nation’s capital, Abuja, on March 22, the same day Nadeem Anjarwalla, one of the Binance executives detained since February, escaped from the custody of the...

Investment products in digital assets witnessed a significant weekly outflow of $942 million, breaking the continuous seven-week streak of inflows reaching $12.3 billion. According to the CoinShares, this shift can be attributed to investor hesitation. Hesitant Investors Cause US ETF Inflows Dip The latest edition of Digital Asset Fund Flows Weekly Report revealed that the trading volumes in Exchange-Traded Products (ETPs) remained high and reached $28 billion for the week....

Jian Wen, a former takeaway worker residing in north London, was found guilty of one count of money laundering after she was found with Bitcoin worth over $2.5 billion (£2 billion) in 2018. Jian Wen assisted a Chinese fugitive known to Wen as Zhang Yadi, whose real name is Qian Zhimin, in laundering the BTC funds. The Bitcoin Laundering Case Wen was found with Bitcoin valued at over £2 billion, which she had been involved in converting into assets such as multi-million-pound...