Finance
The Securities and Exchange Commission (SEC) has formally requested that Terraform Labs and its co-founder, Do Kwon, pay a staggering $5.2 billion. This demand follows a legal finding of fraud against them, as the fallout from the collapse of the Terra ecosystem continues to unravel. On April 5, 2024,
Finance
In a recent expose, independent on-chain analyst ZachXBT has brought to light concerning trends within the Solana ecosystem, revealing that a significant portion of token presales has ended in scams and halted projects, putting investors' money at risk. According to ZachXBT, more than 40% of the projects ceased further
Finance
During a recent discussion, a spokesperson from Grayscale's investment team, David LaValle, confidently expressed his belief that exchange-traded funds (ETFs) based on cryptocurrencies other than Bitcoin and Ethereum are likely to be approved within the next two to three years. This statement was reported by The Block and
Finance
The cryptocurrency exchange OKX has recently seen the departure of two of its top executives, as reported by CoinDesk. Tim Byun, the head of government relations, and Wei Lan, the head of product, have both left the company. The specific reasons behind their resignations remain undisclosed. Tim Byun has a
Finance
Bitcoin mining operations could be preparing to sell off approximately $5 billion worth of Bitcoin following the upcoming halving event, according to Marcus Tilen, an analyst at 10x Research. The cryptocurrency market may face significant challenges during what Tilen refers to as the "six-month summer lull," a period
Finance
As the next Bitcoin halving approaches, projected to occur on April 20, 2024, miners face the potential of significant financial losses, with expert analysis forecasting a staggering $10 billion hit to the industry within the year following the event. This critical point in Bitcoin’s lifecycle will slash the reward
Finance
In a recent statement, Jan van Eck, CEO of investment firm VanEck, has highlighted that a staggering 90% of the capital inflows into their spot Bitcoin ETFs have been sourced from retail investors. This detail emerged during his interview at the Paris Blockchain Week, where van Eck shared insights into
IT
In a revealing study published by Blockaid, approximately 50% of presales within the Solana ecosystem, spanning from November 2023 through February 2024, have been identified as fraudulent. This information, shedding light on the darker underbelly of the blockchain world, comes amidst an exponential increase in the number of tokens and
Finance
In a significant development within the blockchain sphere, Jesse Polak, the lead developer of the Base network, has announced a remarkable increase in the network's transactions per second (TPS) to 400. This update, communicated on April 9, 2024, places Base on par with Solana, known for its high
Finance
In a significant move in the cryptocurrency world, Genesis, the beleaguered trading company, has finalized the sale of over 35 million shares of the Grayscale Bitcoin Trust (GBTC). This sale marks a pivotal moment for Genesis Global Trading, which recently faced bankruptcy. The sale, detailed in court documents and reported
Finance
In an innovative shift within the meat production industry, a Texas-based meat manufacturer and supplier has announced its decision to adopt Bitcoin as a reserve asset. This strategic move positions the company at the forefront of embracing digital currencies in a sector traditionally dominated by conventional financial systems. Kansas City
Finance
In March, the trading volume for spot Bitcoin ETFs soared to an impressive $111 billion, marking a near threefold increase from February's figures. This unprecedented surge highlights the dynamic shifts within the cryptocurrency market, notably the redistribution of market share from Grayscale Bitcoin Trust (GBTC) to iShares Bitcoin