BitMEX founder Arthur Hayes believes that memecoins, despite skepticism, offer a positive contribution to blockchain ecosystems. Memecoins as Expression and Fun In an interview, Hayes described memecoins as a “powerful” form of expression for the masses. He emphasized their playful and experimental nature, which he finds enjoyable. Hayes stressed the decentralized nature of memecoins, allowing…
Surge in Futures Activity DOGE, the popular memecoin, is making waves again. Futures market activity has skyrocketed, with open interest hitting a record high of over $2 billion. This means traders are placing big bets on the future price of DOGE, with many expecting a surge. Bullish Indicators DOGE’s funding rates have been positive since…
Bitcoin’s Record-Breaking Rise Bitcoin has hit a new high of $73,000, but it’s not all good news. Some investors are worried about what happens next. Whales Awaken “Whales” are people or companies that hold a lot of Bitcoin. One whale recently woke up after sleeping for 12 years. They sold all their Bitcoin, which was…
Roman Storm, co-founder of Tornado Cash, is fighting the charges against him by the US government. His lawyers argue that the charges are flawed and should be dismissed. “Fatally Flawed” Charges The government accuses Storm of money laundering and violating economic sanctions. However, Storm’s lawyers say that Tornado Cash is not a money transmitting business…
Hacker’s On-Chain Messages After stealing $11.6 million from Prisma Finance, the hacker has been sending messages on the blockchain. They claim to be a “white hat hacker” and have criticized Prisma Finance for not catching the security flaw that allowed the hack. The hacker has demanded an online press conference where the Prisma Finance team…
Binance, a leading cryptocurrency exchange, has announced plans to support a new Ethereum-based project called Ethena (ENA) through its Launchpool platform. Ethena: A Synthetic Dollar Solution Ethena aims to provide a crypto-based alternative to traditional banking systems by introducing a synthetic dollar called USDe. It also offers a dollar-denominated savings instrument known as the “Internet…
Cryptocurrencies are becoming a popular payment method for pirated online streaming content, according to a report by blockchain analysis firm Chainalysis. Tracking the Illicit Flow Chainalysis partnered with Nordic Content Protection (NCP) to track crypto addresses linked to illegal streaming. Between 2019 and 2023, these addresses received approximately $24 million in crypto. The surge accelerated…
Allegations of Predatory Lending A lawsuit filed against Wells Fargo alleges that the bank overcharged thousands of military members on credit card interest rates and fees for more than a decade. The lawsuit claims that Wells Fargo violated the Servicemembers Civil Relief Act (SCRA), which limits interest rates for active-duty service members to 6%. Concealment…
Bitcoin investors are buzzing with anticipation as the cryptocurrency hovers around $70,000. And it’s not just individual investors driving the surge. Shark Accumulation “Sharks,” or addresses holding 100-1,000 BTC, have been making waves. In the past 30 days, they’ve accumulated a whopping 268,441 BTC, equivalent to $18 billion. This is the biggest net position change…
CFTC Complaint On Tuesday, the US Commodity Futures Trading Commission (CFTC) and Department of Justice (DOJ) charged crypto exchange KuCoin and its founders with various violations, including illegally dealing in commodity futures. In the complaint, the CFTC referred to certain digital assets, including Bitcoin (BTC), Ether (ETH), and Litecoin (LTC), as commodities. SEC vs. CFTC…
