The Securities and Exchange Commission (SEC) is reportedly seeking a staggering $5.3 billion fine against Do Kwon, the founder of the collapsed Terra ecosystem. Allegations of Misconduct The SEC alleges that Kwon and his company, Terraform Labs, engaged in “brazen misconduct” that led to the downfall of the Terra ecosystem in 2022. They are accused…
Crypto investor Brian Kelly believes Bitcoin is poised for a bullish surge due to rising demand and limited supply. Institutional Interest Kelly highlights the potential impact of major brokerage firms like Morgan Stanley and UBS entering the Bitcoin market. He anticipates a significant influx of demand once these firms allow their clients to invest in…
Mark Yusko, CEO of Morgan Creek Capital, predicts a massive influx of money from baby boomers into the cryptocurrency market. Key Points: Asset managers are expected to allocate $300 billion to crypto within the next 12 months. This represents 1% of the $30 trillion in assets controlled by financial advisors for boomers. Yusko believes this…
Alleged Circular Debunked Reports of a circular from the Central Bank of Nigeria (CBN) banning crypto transactions and freezing accounts have been circulating. However, the CBN has confirmed that these reports are false. Guidelines Still in Place Despite the fake circular, the CBN’s guidelines from December 2023 remain in effect. Banks and other financial institutions…
Crypto experts are divided on whether Dogecoin (DOGE) can reach $1. Why Some Experts Are Skeptical Pav Hundal, an analyst at Swyftx, believes it’s a risky bet. He points out that many DOGE holders bought it in 2021 at a much higher price. As the price has fallen, these holders are now underwater and waiting…
After the recent “Halving” event, Bitcoin’s inflation rate has plummeted below that of gold, making it the scarcest asset in history. Halving and Inflation Rate Every four years, Bitcoin undergoes a “Halving” where the block rewards given to miners are cut in half. This event reduces the rate at which new Bitcoins are created, thereby…
Milestone Reached The Ethereum ecosystem is thriving, with over 10 million wallets actively engaging with the mainnet and layer-2 solutions like Base, Optimism, and Arbitrum. This milestone is thanks to the successful Dencun Upgrade in March 2024. Dencun’s Impact Dencun addressed scalability and gas fee challenges by introducing “blobs,” a new transaction type that stores…
Core (CORE) Crypto analyst Altcoin Sherpa believes Core, a layer-1 altcoin, is poised for significant gains in 2024. He notes its strong performance in recovering from recent losses and recommends buying around $2.20 for a potential dip. Near (NEAR) Altcoin Sherpa predicts a pullback in Near to below $6.50 before a rally to his target…
Solana’s Bullish Pattern Analyst Bluntz believes Solana (SOL) is poised for a significant upward surge. The chart suggests a bullish pattern with higher lows, indicating a potential breakout. Elliott Wave Theory Support Bluntz uses Elliott Wave theory, which predicts a fresh rally after a three-part ABC correction. SOL is believed to have completed this correction…
Whale Purchases Major crypto investors, known as whales, have been actively buying Ethereum (ETH) recently. According to the crypto tracker Lookonchain, several large withdrawals of ETH from Binance have occurred in the past few days. Significant Transactions A whale wallet, possibly belonging to Tron founder Justin Sun, withdrew 4,666 ETH ($14.91 million) from Binance on…
