The crypto industry suffered a devastating loss of $385 million to hackers in May, the highest monthly total so far in 2024. Major Hacks DMM Bitcoin Exchange: Lost over 4,500 Bitcoin (valued at $305 million) in a hack on May 31st. Gala Games: Suffered a network breach on May 20th, resulting in the theft of…
Coinbase, the largest crypto exchange in the US, is taking on the SEC, accusing them of trying to crush the crypto industry. SEC vs. Coinbase: The Lawsuit The SEC sued Coinbase in 2023, claiming it violated securities laws by not registering as a broker or exchange. Coinbase argues that the SEC’s rules are unclear when…
Anthropic Shares Sale The FTX bankruptcy estate has sold its remaining shares in Anthropic, the AI company behind the Claude chatbot. The estate sold 15 million shares at $30 per share, totaling over $452 million. The top buyer was G Squared, a venture capital fund, which purchased 4.5 million shares for $135 million. This sale…
The Fall of a Crypto Giant Changpeng Zhao, the former CEO of Binance, the world’s largest cryptocurrency exchange, has begun a four-month prison sentence for failing to prevent money laundering on his platform. Regulatory Wake-Up Call This development has sent shockwaves through the crypto industry, casting doubt on its Wild West reputation. US regulators had…
Uniswap’s UNI token took a hit on Friday, dropping by around 9% after the decentralized exchange (DEX) announced a delay in a planned protocol upgrade. Upgrade Delay Uniswap had intended to implement a fee mechanism that would reward UNI holders who stake and delegate their tokens. However, a stakeholder raised concerns that required further investigation….
Crypto analytics firm Santiment has released data showing that Hedera (HBAR), a layer-1 Ethereum competitor, has emerged as the leader in development activity over the past 30 days. Top 10 Development Activity Hedera surpassed Cardano (ADA) and Optimism (OP) in development activity, with a score of 552.97. Other notable assets in the top 10 include:…
China has sold $101.9 billion worth of US Treasury securities in the past year, reducing its holdings from $869.3 billion to $767.4 billion. This is a significant decline from the peak of $1.31 trillion in 2013. China’s Shift Away from the Dollar China’s move away from the dollar is part of a broader trend towards…
Ripple CEO Brad Garlinghouse believes Dogecoin (DOGE) has not benefited the cryptocurrency industry. Regulatory Uncertainty Garlinghouse expressed concern about the lack of regulatory clarity in the US, which he believes hinders institutional investment in crypto. Solving Real Problems The Ripple CEO emphasized that the future of crypto lies in solving real-world problems, rather than speculation….
Bitcoin’s price has been falling after it couldn’t break through the $72,983 resistance level. It’s now trading below its 1-hour and 4-hour moving averages, which could mean a change in trend. Technical Analysis 4-Hour Chart: Bitcoin has fallen below its moving average, indicating a potential downward trend. The MACD histogram is below zero, suggesting a…
Shibarium Network Growth Shibarium’s total value locked (TVL) surged to $2.45 million, showing growing investor confidence. The network processed over 5 million blocks, 4 million transactions, and has nearly 2 million addresses. However, daily transactions remain low, impacting token burns. Price Concerns 65 trillion SHIB tokens are at risk of being sold off after a…
