The Financial Action Task Force (FATF) has lowered Russia’s rating owing to insufficient oversight of cryptocurrencies, as indicated by regional coverage. According to RBC, this downgrade highlights escalating worries about the country’s capacity to oversee and mitigate dubious transactions within the rapidly expanding realm of digital finance. Russia’s Financial Strategy Challenged by FATF Downgrade The […]
From Low to High — Bitcoin Fees Jump Over 129% in 4 Days
After a short period of diminished onchain network fees, the expense of sending bitcoin has begun climbing once more, hitting a midweek average of 73.3 satoshis per virtual byte (sats/vB) or $ 11.48 for each transaction. Currently, a backlog of 207 mempool blocks is pending, waiting to process about 134,000 unconfirmed transactions, a situation …
Ordinals Market Registers Record Sale: Bitcoin Budgie Changes Hands for Over $1.1 Million in BTC
Leonidas, the pseudonymous founder of Ord.io, an ordinals explorer, has reported one of the biggest sales of inscriptions, the so-called Bitcoin native non-fungible tokens (NFTs), to date. Leonidas stated that the second inscription on the Bitcoin blockchain had been sold for 24.48 BTC (over $ 1.1 million), predicting that more sales will beat this …
Gemini Agrees to Over $1 Billion Restoration in Settlement With New York Regulators
In an agreement with the New York Department of Financial Services (NYDFS), the Winklevoss-led cryptocurrency exchange Gemini has committed to returning over $ 1 billion to its customers. The settlement, which also includes a $ 37 million fine, comes as a significant development for the exchange amidst several ongoing legal challenges with big-name …
Crypto Exchange Kraken Shares ‘Real Story’ of SEC Lawsuit — Claims SEC Seeks ‘Boundless Authority’ Over Commerce
Cryptocurrency exchange Kraken has shared what it called “the real story” of the lawsuit against it by the U.S. Securities and Exchange Commission (SEC). Kraken also explained why it is moving to dismiss the case. “Crypto innovators in the United States should not have to fear retaliation for their political speech. They should be free […]
Pantera Capital Predicts ‘Strong’ Crypto Bull Market Over Next 18-24 Months
American hedge fund Pantera Capital has predicted “a strong bull market” for cryptocurrencies over the next 18-24 months. “With the halving expected to occur in late April 2024, we believe the convergence of these positive things will provide strong tailwinds for the next bull market,” said Pantera founder Dan Morehead. Pantera’s Bull Market Prediction Pantera […]
Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key Players
In the opening fortnight of February, the stablecoin domain expanded by $ 1.7 billion, marking a significant rise. The value of the fiat token crypto market has once again risen witnessing an increase exceeding $ 2.5 billion over the past ten days. Specifically, three stablecoins have driven this upswing, with the stablecoin ethena …
AI Crypto Assets Skyrocket With Over $10 Billion Added to the Sector in 17 Days
In the last 17 days, the value of artificial intelligence (AI) cryptocurrency assets has soared, with a significant addition of $ 10.21 billion to their overall market value. This surge aligns with the unveiling of Openai’s latest innovation, a generative AI-powered application capable of converting text into video. AI Cryptocurrency Sector Explodes With 142% …
Coinbase Vaults Beyond 1 Million Bitcoin Mark, Stash Valued Over $52 Billion
On Friday, Feb. 16, 2024, bitcoin’s value hovered between $ 51,850 to $ 52,350, with onchain insights from Arkham Intelligence revealing that the Nasdaq-listed crypto exchange giant, Coinbase, now possesses over 1 million bitcoin. Based on the current market prices, the stash secured by the San Francisco-headquartered firm is valued at just above …
Solana Mobile Processed Over $20 Million in Payments Using USDC With No Processing Fees
Solana Mobile, Solana Labs’ smartphone subsidiary, processed over $ 20 million in payments in alliance with Shopify and USDC, the second-largest dollar-pegged stablecoin. Anatoly Yakovenko, a co-founder of Solana Labs, explained that 51% of Chapter 2’s payments were completed using USDC, with no payment processing fees associated. Solana Mobile Processed Over $ 20 …
Bank of Russia Detected Over 5,700 Pyramid Schemes in 2023
The Bank of Russia reported that the number of pyramid schemes and illegal lending providers in Russia rose to over 5,700 in 2023, an increase of 15.5% over the number detected in 2022. Specifically, the number of pyramid schemes detected increased by 46%, relying on the Internet and cryptocurrency as tools for promoting and carrying […]
SEC’s Revised ‘Dealer’ Definition Sparks Concerns Over Impact on Crypto Innovation
The U.S. Securities and Exchange Commission (SEC) has adopted rules to require firms that act like dealers to register with the Commission. A lawyer explained that the securities regulator took a shot at decentralized finance (Defi) with the rules, which explicitly target decentralized exchanges’ (DEX) liquidity providers (LPs) with at least $ 50 million …
Raging Inferno: Over 3% of All Ether Supply Has Been Burned Since Implementing EIP-1559
Ethereum has shed a significant part of its supply since the London upgrade, applied in August 2021. According to ultrasound.money, a portal that records several statistics associated with the ETH burn, over 4 million ether (3.2%) have been removed from the network since the adoption of EIP-1559, which changed how fees are calculated. EIP-1559 Burns […]
Bitcoin ETF Reserves Rise: Over 200,000 BTC Worth $9.56 Billion Gathered Since January Debut
At 10:00 a.m. EDT on Feb. 9, 2024, the nine recently launched spot bitcoin exchange-traded funds (ETFs) collectively possess 202,868.61 bitcoin, valued at $ 9.56 billion according to current exchange rates. New ETFs Command Over 200,000 Bitcoin In the last 28 days, spot bitcoin ETFs introduced by Blackrock, Fidelity, Ark Invest, Bitwise, Invesco, Vaneck, …
NBA Faces Class Action Lawsuit Over Voyager Digital Promotion
A class action lawsuit has been filed against the National Basketball Association (NBA), accusing the league of gross negligence through its marketing agreements with the now-bankrupt crypto exchange Voyager Digital Holdings, leading to investor losses of over $ 4.2 billion. NBA Hit With Class Action Lawsuit Over Alleged Negligent Crypto Promotions The NBA is …