Tag Archives: social

The Calgary Police Service issued a warning to residents to beware of fraudsters who promise high returns on crypto investments, noting that Calgary victims have lost more than $22 million mostly to investment scams so far in 2023. Meanwhile, authorities believe crypto scams are still underreported despite huge losses. Calgary Police Receive More Crypto Scam Reports in 2023 Residents in the city of Calgary, Alberta, Canada, have lost over $22.5 million to crypto-related scams...

Newbie developers are increasingly departing a crypto project while more “established” ones (more than two years) and those categorized as “emerging” (who have been working for one to two years) have remained relatively resilient over the past year. A new study by Electric Capital shows that Ripple is one of the few projects that witnessed an increase in its developer counts as of October. The XRP ecosystem recorded more than 18% YoY growth and currently has 172 monthly...

In 2023, the Ethereum blockchain witnessed intriguing transformations in the way users and entities engage. According to Nansen’s recent report, there has been a remarkable surge, with more than 300,000 daily active Ethereum addresses. Among these active addresses, DeFi entities have maintained their position as the dominant players. As of October 12th, 2023, DeFi users alone outnumbered NFT and layer 2 scaling users by more than twice, solidifying the sector’s central role...

A recurring motif during the trial has been Bankman-Fried’s commitment to effective altruism, a philanthropic ideology aimed at maximizing individuals’ impact through activities like charitable contributions and career choices. Bankman-Fried, who is currently on trial for defrauding investors of billions of dollars, aligned himself with fellow proponents of this philosophy, including Nishad Singh, the head of engineering, and Caroline Ellison, who was not only his former...

While maintaining the $30,000 mark is proving challenging for Bitcoin, there appears to be a noteworthy surge in bullish sentiment. It can be attributed in part to the increased optimism of investors regarding the potential approval of a spot Bitcoin ETF in the US. A potential approval can push Bitcoin between $42,000 and $56,000, according to a new report. Bitcoin’s Ascent to $56,000 So far, the US Securities and Exchange Commission (SEC) has declined to grant approval for a...

Solana had a strong association with FTX, and the latter’s collapse last year had significant repercussions for the SOL token. However, the seventh-largest crypto-asset has pursued a strong recovery this year. According to Nansen’s latest analysis, SOL has been trending positively since the summer. In fact, the SOL vs ETH ratio was found to have been breaking higher, nearing highs not seen all year. Since the collapse of FTX, SOL has declined more than ETH, meaning ETH has...

Gabbani, a hotel company based in Lugano, Switzerland, has unveiled an initiative to mine Bitcoin using excess energy from its food production facility. The new project is set to solidify Lugano’s status as the leading European blockchain hub. According to an official announcement by stablecoin issuing company Tether, Gabbani will install a Bitcoin mining system in its food production facility to harness excess energy as electricity costs in Europe continue to rise. Food...

Investment banking giant Morgan Stanley published a report on Tuesday arguing that Bitcoin (BTC)’s upcoming halving event in six months may be the dawn of a new bull market. With reference to Bitcoin’s “four seasons,” the bank claimed that “crypto winter” may already be over. Crypto Winter Is Over Morgan Stanley Wealth Management defines cryptocurrency “winter” as a period of the “four-year cryptocurrency cycle” that begins after Bitcoin taps an all-time high and investors...

Binance.US has garnered support from a major crypto lobbyist group in warding off an ongoing lawsuit from the U.S. Securities and Exchange Commission (SEC). In a new amicus brief, the US Chamber of Digital Commerce argued that the agency’s claims against the exchange are misplaced, and that its actions are turning crypto businesses away from its borders. Regulation By Enforcement In the Thursday filing, the lobbyists echoed previous criticisms from industry leaders that the...

The chilling winds of crypto winter continue to sting projects, prompting several of them to take a hard look at downsizing or ceasing operations entirely. A decentralized content-sharing and publishing platform – LBRY – is the latest one to succumb to the market condition. The company behind the LBRY blockchain said that “there is no escaping this.” LBRY Shuts Shop In a somber announcement, LBRY weighed in on losing judgment to the federal government and said it has debts to...