CFTC’s Aggressive Approach Raises Concerns The Commodity Futures Trading Commission (CFTC) recently filed a lawsuit against crypto exchange KuCoin, alleging violations of banking and anti-money laundering laws. However, Commissioner Caroline Pharm warns that this action may overstep the CFTC’s authority and undermine the Securities and Exchange Commission’s (SEC) jurisdiction over securities trading. CFTC’s Interpretation of…
Introduction Losing access to your crypto wallet can be a nightmare. Your seed phrase is the key to recovering your funds, so it’s crucial to know where it is and how to keep it safe. Understanding Seed Phrases A seed phrase is a random sequence of 12-24 words generated when you create a crypto wallet….
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 Millions Drained in Hours The Commercial Bank of Ethiopia (CBE) reports that $14 million was withdrawn within hours as news of the malfunctioning system spread quickly among…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…
