President Biden has vetoed a bill that would have overturned a controversial SEC policy requiring certain companies to classify crypto assets as liabilities on their balance sheets. Biden’s Concerns In a letter to the House of Representatives, Biden expressed concerns that removing the guidance would hinder the SEC’s ability to protect investors and implement safeguards….
Unauthorized Transfers A California couple, Ron and Jan Scott, alleges that Wells Fargo failed to protect their account from hackers who stole $30,000 in a matter of seconds. The Scotts claim that the hackers gained access to their account after compromising one of their email passwords. Despite the large amount of money being transferred, the…
A new cryptocurrency linked to a popular Telegram game has reached new heights this week, soaring by nearly 160%. What is NOT? NOT is the token for Notcoin, a “tap-to-earn” mining game on Telegram. It launched on Binance’s Launchpool platform in May and has quickly gained traction. Impressive Growth With over 1.6 million on-chain holders,…
A former investment banker and registered broker, Rashawn Russell, has been sentenced to three years and five months in prison for orchestrating a $1.5 million crypto fraud scheme. Scheme Details From November 2020 to August 2022, Russell lured investors with promises of high returns. However, he misappropriated their funds for personal use, including gambling and…
Dogecoin (DOGE) and Shiba Inu (SHIB) are popular memecoins, but how do they stack up against the top cryptocurrencies in terms of daily users? Active User Count An “active address” is one that participates in transactions. The number of active addresses is a measure of network traffic and can indicate the number of daily users….
Coinbase, a major cryptocurrency exchange, has accused the SEC of trying to crush the crypto industry. SEC’s Allegations The SEC claims that Coinbase sold unregistered securities, which are investments that must be registered with the government. Coinbase’s Defense Coinbase argues that the SEC’s claims are inconsistent and unfair. They say the SEC is using regulations…
Logistical Challenges of Gold India’s recent decision to bring back a significant amount of its gold reserves from the UK has highlighted the logistical difficulties of managing physical gold. Transporting and storing large quantities of gold can be costly and time-consuming. Bitcoin as a Solution Gabor Gurbacs, a strategic advisor at Tether, suggests that cryptocurrencies…
Unauthorized Access Incident On May 31, DMM Bitcoin, a major Japanese crypto exchange, detected a hack resulting in the theft of 4,502.9 BTC (worth $305 million). Services Suspended To protect customer assets, DMM Bitcoin has temporarily suspended: New account openings Cryptocurrency withdrawals Spot trading buy orders New leveraged trading positions Customer Reassurance DMM Bitcoin has…
A savvy trader has made a staggering 118,967% return on a Solana-based memecoin called dogwifhat (WIF). According to blockchain tracking firm Lookonchain, the trader purchased WIF in December 2023 and has made a series of strategic sales as the memecoin soared. The trader bought 6.1 million WIF for $5,879 and has since sold 4.7 million…
Cathie Wood, CEO of ARK Invest, believes that major broker-dealers will only accept spot exchange-traded funds (ETFs) for Bitcoin (BTC) and Ethereum (ETH). Spot ETFs Gaining Traction Since the approval of spot BTC ETFs, Wood has observed increased interest from large platforms like Morgan Stanley and UBS. She anticipates that these wirehouses will soon offer…
