Despite ongoing efforts to enhance security, the crypto industry remains vulnerable to malicious activities. In February alone, crypto scams and hacks resulted in losses exceeding $160 million. Exploits and Vulnerabilities Exploits of vulnerabilities in crypto projects accounted for the majority of February’s losses, amounting to approximately $101 million. Notably, Certik reported several instances of exploits…
Tax Troubles Indonesia’s crypto market is going through a rough patch. Bitcoin’s price shot up in 2023, but the government’s tax revenue from crypto crashed by over 60%. This has raised questions about the current tax system. Dual Taxation Indonesia has a double-tax system for crypto transactions, which means you get taxed twice. This has…
Industry Groups Challenge Emergency Survey The US Department of Energy (DOE) has dropped its emergency survey of Bitcoin mining’s energy usage after a lawsuit from industry groups. Riot Platforms and the Texas Blockchain Council argued that the survey violated the Paperwork Reduction Act by bypassing public comment and data collection procedures. Energy Consumption Concerns Bitcoin…
The United States government is set to spend a staggering $870 billion this year on interest payments for its national debt. This is the first time since 1940 that interest spending will exceed the budget for national defense, which stands at $822 billion. Interest as the Second-Largest Expense The Committee for a Responsible Federal Budget…
Victim’s Struggle Victoria Karwowski, a Chicago resident, was robbed at gunpoint by thieves who demanded access to her Chase account. Under duress, she was forced to hand over her banking app password, resulting in $1,700 being stolen via Zelle. Chase’s Denial Despite receiving a police report and video evidence, Chase initially refused to reimburse Karwowski,…
Ethereum’s layer-2 projects are booming, according to analytics firm IntoTheBlock. Since the start of 2024, transaction volumes on Ethereum L2s have soared by 91%. Crypto Assets Leaving Centralized Exchanges Both Ethereum (ETH) and Bitcoin (BTC) continue to flow out of centralized exchanges. IntoTheBlock reports that $906 million worth of ETH left exchanges last week, marking…
An under-the-radar altcoin, Axelar (AXL), has surged to new heights after its surprise listing on Binance, the world’s largest cryptocurrency exchange. Interoperability Platform AXL is an interoperability platform that allows different blockchains to communicate with each other. It aims to simplify cross-chain transactions and make it easier for developers to build applications that work across…
Macro investor Dan Tapiero believes a predictive model suggests Bitcoin (BTC) could reach a staggering $900,000 in this market cycle. Stock-to-Flow Model The stock-to-flow (S2F) model by analyst PlanB forecasts Bitcoin’s long-term market cycles based on its halving events, when miner rewards are reduced. Tapiero highlights that the model accurately predicted price spikes in 2013,…
BlackRock’s spot Bitcoin exchange-traded fund (ETF) has quickly amassed over $10 billion in assets under management (AUM), according to Bloomberg Intelligence analyst Eric Balchunas. Key Highlights BlackRock’s iShares Bitcoin Trust (IBIT) has become one of only 52 ETFs to cross the $10 billion mark. The ETF has seen significant inflows, with IBIT alone receiving $604…
A popular analyst, Bluntz, has shared his views on two cryptocurrencies: dogwifhat (WIF) and Solana (SOL). Dogwifhat (WIF) WIF has seen a 229% surge in value since February 24th. The analyst notes a bullish divergence in the long-term price charts, indicating potential for further growth. Solana (SOL) Bluntz believes SOL may have reached a bottom…
