A state-owned bank in Ethiopia is scrambling to recover millions of dollars after a system update allowed customers to withdraw more money than they had in their accounts. Millions Drained in Hours The Commercial Bank of Ethiopia (CBE) reports that $14 million was withdrawn within hours as news of the malfunctioning system spread quickly among…
Bitcoin Cash (BCH) has witnessed a significant surge of over 37% in the past week, fueled by the anticipation of its upcoming halving event. Halving Date and Block Reward Reduction BCH’s halving is scheduled for April 3rd, as per NiceHash. This event occurs every four years, reducing the block reward by half. On April 3rd,…
A UK judge has frozen over $7.6 million of computer scientist Craig Wright’s assets after ruling that he is not the founder of Bitcoin. Court Documents Reveal Concerns Court documents show that the judge ordered the worldwide freeze to prevent Wright from avoiding court costs. The judge noted that Wright may have transferred his assets…
Sharks Accumulate Massive Amount of Bitcoin Bitcoin investors holding between 100 and 1,000 BTC (known as “sharks”) have been buying heavily in the past month. They’ve added a net 268,441 BTC to their wallets, worth approximately $18.6 billion. This is the largest accumulation by sharks since 2012. Significance of Shark Activity Sharks are smaller than…
Grayscale, a big player in the crypto world, has launched a new fund called the “Dynamic Income Fund” (GDIF). This fund focuses on investing in cryptocurrencies that use the “proof-of-stake” method. What is Proof-of-Stake? In proof-of-stake, investors help secure a blockchain network by “staking” their tokens. In return, they earn rewards in the form of…
Amidst Nigeria’s crackdown on cryptocurrency, Tigran Gambaryan, a detained Binance executive, has filed a lawsuit against the Nigerian government. Allegations of Rights Violation Gambaryan claims that his detention and passport confiscation violate Nigeria’s constitution. He alleges that he was invited to discuss Binance’s operations in Nigeria and did not commit any offenses. Demands for Release…
Open Interest: A Measure of Market Activity The total open interest in the crypto market, which measures the number of active derivative positions, has reached an all-time high of $51.3 billion. This indicates that investors are actively placing bets on the future direction of cryptocurrencies. Volatility Ahead? Typically, high open interest levels suggest increased leverage…
Mike Novogratz, CEO of Galaxy Digital, believes that the soaring US debt will accelerate the adoption of Bitcoin (BTC). Debt-Driven Bitcoin Demand Novogratz argues that investors are increasingly recognizing the value of Bitcoin as a hedge against the US dollar’s potential devaluation due to mounting debt. “Our government is adding a trillion dollars of debt…
Floki (FLOKI) Crypto analyst Kaleo believes Floki is poised for a significant rally against Bitcoin (FLOKI/BTC). The chart shows a bullish trend with higher lows, indicating a potential breakout of a key resistance level. Kaleo predicts FLOKI/BTC could reach $0.000340, surpassing its all-time high. BNB Kaleo is also optimistic about BNB, the native token of…
Cryptocurrency expert Ali Martinez believes a lesser-known memecoin called Brett (BRETT) is poised for a significant increase. Brett’s Potential Rise Martinez predicts Brett could rise by 57% from its current value, reaching $0.080. However, he cautions that a temporary dip to $0.038 may occur before the surge. Bitcoin’s Outlook Martinez also comments on Bitcoin (BTC),…
