Tag Archives: social

The Fantom Foundation reported that the Singapore High Court instructed Multichain to compensate it. Fantom plans to seek liquidation through the court to retrieve community assets, which include around $65 million in stablecoins that are currently frozen. Following the latest legal triumph, the platform anticipates the Singaporean court to designate a liquidator to evaluate the damages suffered due to Multichain’s security breach. Fantom Foundation Pushes for Multichain...

Ilya Lichtenstein, the man behind the looting of billions of dollars from Bitfinex,  is now helping federal prosecutors build a case against Bitcoin Fog, a crypto mixing service. Lichtenstein pleaded guilty to money laundering charges last year after hacking Bitfinex and getting away with Bitcoin worth $3.6 million. Lichtenstein Testifies in Washington Trial According to Bloomberg, Lichtenstein appeared in a Washington, D.C., trial this week where Roman Sterlingov was accused...

The ongoing rally is challenging market expectations regarding the impact of spot Bitcoin ETF inflows, which were speculated to propel the leading asset to break all-time highs by the end of March. With Bitcoin exceeding $59,000 on Wednesday, marking a gain of over 5%, indications suggest that a new peak may materialize sooner than anticipated. Funding Rate Fears vs. Spot ETF Strength The rally is primarily driven by demand, evidenced by spot ETF volumes surpassing $3.2...

The crypto market’s rally clearly indicates that institutions have shown a stronger preference for Bitcoin and Ether, allocating approximately 40% each to these top assets. As of January 31st, 2024, these entities have dedicated 15% to stablecoins and only 5% to alternative coins. A new report by Bybit suggests that institutional portfolios have become significantly more focused, increasing from 50% to 80% over the past few months. In contrast, retail investors display a...

Some on-chain indicators are flashing signs that Bitcoin (BTC) may be overheating following its rally to the $64,000 price mark, indicating a significant correction could occur soon. According to a weekly report from market intelligence firm CryptoQuant, the rising traders’ unrealized profit margin and the high cost of opening new long positions in perpetual futures markets suggest the emergence of a pause or correction in BTC’s price. BTC’s Remarkable Rally Since the...

While Bitcoin has stalled and even retraced slightly below $62,000, meme coins have made the news this week with mindblowing gains, led by Dogwifhat (WIF). The total crypto market cap has declined slightly on a day scale, but it is up by more than $100 billion in the past seven days. Meme Coins’ World The bull market seems to be back on track as assets that were less popular last year have gained a lot of traction with massive gains now. Such is the case with the largest meme...

U.S.-based Bitcoin mining behemoth Marathon Digital has published its quarterly earnings report and has beaten analyst predictions by a good margin. Paradoxically, Marathon’s stock price dipped shortly after the announcement. This is, however, likely a temporary blip. Stunning Financial Results Although Marathon Digital was not necessarily in trouble last year, the crypto winter definitely put a bit of a damper on its plans, as did the SEC, who targeted the firm among a slew...

In February, the crypto industry saw losses totaling approximately $160 million due to exploits, hacks, and scams. The figures represented a slight dip from January despite an increase in prices. According to the latest update by CertiK, exit scams claimed the lion’s share at $58.2 million, followed by exploits at $101 million. Phishing accounted for $14.6 million, while $6.4 million was successfully recovered. Flash loans incurred minimal losses at $138k. Hong Kong-based...

Worrying developments at New York Community Bancorp (NYCB) have several Bitcoin investors anticipating a renewed U.S. banking crisis – which could bring money crashing back into the digital currency. The bank’s stock is down 41% over the past month, including a 28% plunge on Friday. Trading for $3.55 at writing time, it has now reached its lowest share price since 1996. What’s Happening at NYCB? NYCB had already suffered major losses in early February after disclosing that...

Analysts at crypto intelligence platform Santiment said Bitcoin’s remarkable performance in the 29 days of last month gave leap year a new definition, but the market may be in for a different ride in March. According to the Santiment’s monthly report, several on-chain indicators suggest the market is in a bit of a danger zone and faces an increased risk of a correction in the short term. A Bit of a Danger Zone Bitcoin recorded a 45% surge in February, blasting past $45,000,...