The Uniswap Foundation, which oversees the popular cryptocurrency exchange Uniswap, has released its financial summary for the first quarter of 2024. Financial Snapshot As of March 31, 2024, the foundation had: $41.41 million in cash and stablecoins 0.73 million UNI tokens The funds are allocated as follows: $25.77 million for grants and incentives $2.94 million…
US authorities have arrested the alleged mastermind behind a major dark web marketplace that facilitated the anonymous sale of illegal drugs. Arrest Details Rui-siang Lin, 23, from Taiwan, was arrested at John F. Kennedy Airport on May 18th. He is accused of owning and operating Incognito Market under the alias “Pharoah” or “Faro.” Incognito Market’s…
Bankman-Fried’s Penthouse and Bahamas Properties Following the collapse of FTX, the company’s lavish real estate holdings are being sold off. The centerpiece is the $30 million Orchid building penthouse in the Bahamas, where Sam Bankman-Fried and his team lived and worked. Overpaid Properties? Experts believe FTX may have overpaid for these properties, making it difficult…
New York Attorney General Letitia James has issued a stern warning to crypto companies operating in the state. She emphasized that they must comply with the same regulations as any other business. Settlement with Genesis Recently, the NYAG’s office reached a $2 billion settlement with bankrupt platform Genesis Global Capital. This settlement was the largest…
Shiba Inu: Bullish Outlook A machine learning algorithm predicts a bright future for Shiba Inu in June 2024. It anticipates a surge towards its previous all-time high of $0.00008, representing a 229% increase from its current value. This bullish outlook suggests that Shiba Inu could reach new heights in the coming months. Dogecoin: Bearish Sentiment…
Key Vote on Protocol Fees Uniswap, the popular decentralized exchange, is about to make a big decision. On May 31st, token holders will vote on whether to turn on protocol fees for the first time since Uniswap V3 launched. If approved, the platform could start collecting a share of trading fees, which would then be…
Billionaire Chamath Palihapitiya believes the US economy is already in a downturn, despite official GDP growth figures. GDP Measurement Concerns Palihapitiya argues that GDP, which measures the value of goods and services produced, may not accurately reflect the economy’s true state. He notes that GDP growth is driven by consumer spending, business investment, government spending,…
A massive crypto investor, known as a “whale,” recently spent a staggering $24.7 million on Ethereum-based altcoins. This surge in buying activity came after the U.S. Securities and Exchange Commission (SEC) approved the listing of spot Ethereum exchange-traded funds (ETFs). Whale’s Altcoin Haul According to blockchain tracking firm Lookonchain, the whale acquired Ethereum just before…
Technical Analysis Points to Bearish Trend A prominent crypto analyst, Bluntz, has reversed his bullish stance on Solana (SOL), predicting a significant decline. According to Bluntz, SOL has completed a five-wave rally and is now entering a corrective period. Bluntz’s analysis is based on the Elliott Wave theory, which predicts price movements based on crowd…
A crypto analyst claims that the market has yet to fully account for Bitcoin’s recent halving, where rewards for miners were cut in half. Historical Trends Historically, Bitcoin has experienced significant rallies after halvings. However, the analyst notes that the actual pricing in of the event typically occurs months later. Current Market Conditions Despite recent…
