Background: Tornado Cash in the Spotlight Tornado Cash, a crypto mixing service, lets users hide the origins and destinations of their transactions. This has made it popular with privacy advocates, but it’s also raised concerns about its use in illegal activities. Pertsev’s Arrest and Conviction In August 2022, Alexey Pertsev, the developer behind Tornado Cash,…
Regulatory Scrutiny Nigeria’s currency, the naira, is in a downward spiral, and the government blames cryptocurrency for its woes. The Central Bank of Nigeria (CBN) has accused crypto platforms of manipulating the currency’s value and undermining monetary policy. Exchanges Under Fire Major crypto exchanges like Binance, OKX, and now KuCoin have suspended naira support on…
Crypto analyst Credible believes NEAR Protocol (NEAR) is mirroring the recent surge of the memecoin Pepe (PEPE). He notes that the market structure of both coins is similar. Credible suggests that NEAR could reach $9, with a potential upside of 30%. However, he cautions that this bullishness does not extend to Pepe or other large-cap…
El Salvador’s Bitcoin Office has revealed that their geothermal system, powered by a volcano, has mined approximately 474 Bitcoin (BTC) over the past three years. Mining Success The Central American nation, which made Bitcoin legal tender in 2021, has generated around $30 million worth of the cryptocurrency using a power plant fueled by the Tecapa…
Coinbase’s Chief Legal Officer, Paul Grewal, has criticized the Securities and Exchange Commission (SEC) for allegedly misleading the courts and the crypto sector. SEC’s Lack of Transparency Grewal pointed to the SEC’s case against Digital Licensing Inc., a company that operated as “DEBT Box.” He noted that the SEC admitted in court documents that it…
Analyst Predicts Sharp Surge Crypto analyst BitQuant, who accurately predicted Bitcoin’s rise to $73,000 in 2024, has unveiled a new target: $95,000. Single Move BitQuant believes Bitcoin can reach this target in a single move, representing a 50% increase from its current level. Timing Uncertain The analyst doesn’t speculate on the exact timing of the…
Real Vision analyst Jamie Coutts predicts that Bitcoin and certain altcoins will thrive as artificial intelligence (AI) gains traction. AI’s Need for Money Coutts believes AI requires a monetary system, and Bitcoin is a strong contender. However, stablecoins and tokens from smart contract platforms like Ethereum, Solana, and NEAR are also well-suited. AI’s Impact on…
Long-Term Holders Accumulate Bitcoin’s long-term holders are scooping up the cryptocurrency at its current lower price. This suggests they believe in its potential for growth, despite recent fluctuations. 70,000 BTC Bought These long-term holders have bought a whopping 70,000 BTC, worth over $4.3 billion. This buying spree is seen as a bullish signal for Bitcoin….
12-Second Exploit The US Department of Justice (DOJ) has arrested two brothers, Anton and James Pepaire-Bueno, for allegedly orchestrating a sophisticated attack on the Ethereum blockchain. The brothers are accused of stealing $25 million in crypto within just 12 seconds. Manipulation of Protocols The indictment alleges that the brothers exploited the Ethereum blockchain’s protocols by…
Despite the recent surge in crypto prices, FTX customers are expressing frustration with the proposed bankruptcy plan. Promising Payouts The bankruptcy process has resulted in a potential windfall for FTX customers. The exchange’s assets have increased in value, leading to the possibility of payouts exceeding initial investments. Customer Concerns However, some customers remain dissatisfied. They…
