Tag Archives: social

Bitcoin’s most recent downturn also took a toll on the addresses that are in profit – they decreased from 82% to 70% in less than a couple of days. As CryptoPotato reported yesterday, the entire cryptocurrency market tumbled following a broader collapse of stocks throughout the world amid rising debt crunch fears in China. This saw over $800 billion worth of both long and short positions liquidated, and Bitcoin’s price tumbled to as low as $40,200 earlier today. The sharp...

The team behind Solana yesterday gave a detailed report on how its validators from all over the world rescued the network from an outage that lasted nearly 18 hours. IDO Bots Responsible for Solana’s Downtime According to the report, the network outage was a result of Grape Protocol’s IDO, which launched on the Raydium exchange in the early hours of September 14th. While trying to manipulate the rules of the IDO, several traders used bots to generate limitless transactions,...

The prominent economist – Steve Hanke – once again revealed his negative stance on bitcoin. According to him, the primary cryptocurrency is highly volatile, uncertain, and has a “fundamental value of zero.” Is BTC Really ‘Snake Oil?’ Steve Hanke – Professor of Applied Economics at the John Hopkins University – took it to Twitter to warn investors to stay away from bitcoin. The 78-year-old American – who is a well-known cryptocurrency critic – does not see the leading digital...

Cryptocurrencies are redefining the entire payment infrastructure, says a new report from multinational Citibank. It added that digital assets have expanded from being merely an “internet novelty” to becoming a two-trillion-dollar market. What Can Organizations Do to Embrace Crypto? The report offers a blueprint for organizations considering adopting cryptocurrency payments or simply investing in such assets as a store of value, outlining three key aspects they should...

In an update to a blog post from months prior, Coinbase has withdrawn its plans to launch a USDC APY lending program on the platform in response to mounting legal pressure from regulators. Coinbase Bends to the SEC The news was quietly released this Friday when Coinbase updated its June blog post that announced an upcoming lending product. After encouraging users to pre-enroll for its program, the team has now discontinued its waitlist, which attracted hundreds of thousands...

Four non-fungible tokens (NFTs) artworks inspired by Freddie Mercury will be available for sale starting from today (September 20th) on SuperRare. The collectibles would mark the 75th birthday of the singer as the raised funds would support an AIDS charity. ‘Never Make Me Boring’ The NFT-dedicated platform SuperRare will host an exclusive non-fungible token collection of the iconic musician – Freddie Mercury – as a way to celebrate his 75th birthday that was supposed to be...

The financial world is watching Evergrande and what’s going on in China closely, as this has been undoubtedly the headliner for the past couple of weeks. Today, global markets tumbled as Evergrande stock price lost another 10%, sending Bitcoin well into the red with a decrease of around 8% in the past 24 hours alone. But is the pain over? Evergrande – Chinese Real Estate Behemoth Sags Evergrande managed to become one of the leading companies in China when it comes to real...

The cross-chain DeFi protocol, pNetwork, has informed that it has become the latest victim of a security breach. By leveraging a codebase bug, the unknown perpetrator has stolen 277 bitcoins. As announced by the team behind the project, the hacker “was able to leverage a bug in our codebase and attack pBTC” on the Binance Smart Chain (BSC). Ultimately, he managed to take 277 bitcoins, most of which were collateral. Even with today’s prices when the cryptocurrency dumped by...

Several US state regulators have gone after the popular cryptocurrency lender Celsius Network for failing to comply with local securities laws. The project’s CEO was quick to refute the allegations, promising that all protocol services will remain unaffected for now. US State Regulators After Celsius United States watchdogs have intensified their actions against the cryptocurrency industry lately, and the latest example became known on Friday. Firstly, the Texas State...

The 24-year-old Australian national – Stefan He Qin – will spend the next 90 months in federal prison for defrauding his customers out of $90 million. The courts also ordered him to forfeit nearly $55 million from the embezzled money. The Road to Prison According to a press release from the United States Department of Justice, Stefan Qin received a prison sentence for seven and a half years after stealing nearly $90 million from his clients. The Australian was in charge of...