The legal battle surrounding Terraform Labs co-founder Do Kwon takes a new turn as the US Securities and Exchange Commission (SEC) prepares for a civil trial against him on March 25. However, Kwon’s absence is likely due to extradition delays from Montenegro. No Request for Postponement Do Kwon’s lawyer, David Patton, confirmed that Kwon will…
Bitcoin’s price surged above $57,000 on February 27, marking its highest point since 2021. This surge can be attributed to several recent developments that have created a bullish narrative for the cryptocurrency. Increased Demand for Bitcoin Bloomberg analyst Eric Balchunas reported that nine Spot Bitcoin ETFs (excluding Grayscale’s GBTC) set a new all-time trading volume…
The PEPE coin has seen a remarkable surge in value, with a 50% increase in price in just one day. This impressive rally has brought PEPE to the forefront of the crypto market, capturing the attention of investors and enthusiasts alike. Factors Driving PEPE’s Price Increase There is no single factor driving PEPE’s price increase,…
2023 was a tumultuous year for the world of digital assets, marked by fluctuating regulations, criminal activities, and significant thefts. However, despite these challenges, the total market capitalization for digital assets reached a staggering $1.4+ Trillions, a testament to the growing interest and potential of this industry. Amidst this growth, however, lies a concerning reality:…
Sudden Outflow and Unanswered Inquiries Hong Kong-based crypto exchange BitForex has halted withdrawals on its platform. On-chain investigator ZachXBT reported suspicious activity on February 23rd. Over $56 million left BitForex’s hot wallets, prompting withdrawal suspension. BitForex officials have not responded to user inquiries on X and Telegram. The exchange’s CEO resigned last month, adding to…
On-chain analysts are trying to figure out who owns a Bitcoin wallet that’s accumulating huge amounts of BTC at a relentless pace. The unknown entity dubbed “Mr. 100” has bought at least 100 BTC nearly every day since February 14th, including weekends. This accumulation has resulted in a total of 3806.54 BTC worth $207,996,959 in…
An artificial intelligence altcoin, Akash Network (AKT), has seen a surge in value after the top US crypto exchange Coinbase announced its possible future listing. Coinbase’s listing roadmap, which informs customers about potential new supported assets, has added AKT to its list. Following the news, AKT’s price rose from $3.91 to $4.38, a 10% gain….
Background Since China’s crypto mining ban in 2021, the US has become a major hub for Bitcoin miners. However, regulatory agencies have been tightening their oversight of the industry. Last month, an emergency approval was issued for a survey to collect sensitive data from crypto mining companies operating in the US. This led to a…
Crypto Investment Products See Record Inflows Crypto investment products have seen a notable surge in investor interest, marking their fourth consecutive week of substantial inflows. According to recent data from CoinShares, these products attracted roughly $598 million in investments over the past week alone. This influx of capital brings the year-to-date inflows to $5.7 billion,…
Hong Kong-based cryptocurrency exchange BitForex is in crisis mode after its website went offline on February 23 following the reported withdrawal of $57 million from its hot wallets. Wash Trading Scandal and Website Shutdown Decentralized finance (DeFi) detective ZachXBT brought the incident to light on Twitter, raising concerns about the exchange’s operations. BitForex has yet…
