Crypto News
Binance Releases 12th Proof of Reserve Report – Is It Enough to Restore Trust?
Cryptocurrency exchange Binance has released its twelfth proof of reserve report, providing transparency into its reserves during a period of market instability. The latest report, with a snapshot date of November 1st, 2023, was calculated and verified by independent Chinese journalist Colin Wu. The proof of reserve report aims to reassure users that Binance has …...
$1.14M Zombie CryptoPunk Sale Precedes NFT Volume Surge – Simpsons Effect?
A rare zombie CryptoPunk NFT sold for $1.14 million on Monday, sparking speculation that interest in NFTs is rebounding after months of declining sales volume. CryptoPunk #7458 is one of only 88 zombie punks in the collection of 10,000 unique punks. It has three attributes: a shadow beard, a knitted cap, and regular shades. This …...
Binance Dominance Tested as Rivals Gain Ground – CEX Report
The centralized cryptocurrency exchange (CEX) landscape has seen some notable shifts over the past year, according to a new market report from blockchain analytics firm 0xScope. While Binance still retains the top spot by a large margin, its market share across key metrics like trading volume has declined, opening opportunities for other exchanges to gain …...
DCG Accused of ‘Sham’ Bailout to Prop Up Genesis After 3AC Collapse
A 47-part Twitter/X thread by Genesis creditor Vijay Boyapati alleges Digital Currency Group (DCG) and its CEO Barry Silbert perpetrated fraud to hide massive Genesis losses stemming from Three Arrows Capital’s (3AC) implosion. Boyapati argues DCG provided a bogus $1.1 billion promissory note to paper over Genesis’ insolvency, misleading creditors and buying time. The scheme …...
Fake Ledger App Scams $768K+ in Bitcoin via Microsoft Store
A fake Ledger Live app surfaced on the official Microsoft app store, resulting in over $768,000 being stolen before its removal, according to crypto sleuth ZachXBT. The scam wallet received nearly 17 Bitcoin from victims. The fake Ledger Live app exploited the Microsoft Store’s credibility to lend legitimacy to an elaborate phishing scam. The ploy …...
Crypto Funds See $261M Inflows, 6th Straight Week of Gains
Digital asset investment products recorded $261 million of net inflows last week, marking the 6th consecutive week of inflows, according to crypto asset manager CoinShares. Total inflows over the streak now exceed $767 million. The latest $261 million weekly gain pushes total inflows over the 6-week run past the $736 million seen in all of …...
FTX Advisers Disclose Customer Information to FBI, Shows Report
Advisers for collapsed cryptocurrency exchange FTX have disclosed customer transaction data and account details to multiple FBI field offices in recent months, according to a report by Bloomberg. Consultancy Alvarez & Marsal has provided information on specific FTX users’ trades and accounts in response to FBI subpoenas and requests. This was revealed in the firm’s …...
OpenSea Cuts Jobs by 50% to Refocus on “OpenSea 2.0” NFT Marketplace
OpenSea, the largest NFT marketplace, revealed significant company changes, including layoffs and a product revamp dubbed “OpenSea 2.0.” In a nine-part Twitter thread, CEO Devin Finzer announced they are rebuilding OpenSea’s culture, products, and technology from scratch. While proud of OpenSea’s NFT industry contributions, Finzer admitted the platform feels like a “follower, not a leader” …...
Russian National Hit With US Sanctions for Crypto Money Laundering
The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions this week on Russian national Ekaterina Zhdanova for using crypto to help Russian elites evade international sanctions related to the war in Ukraine. According to the Treasury announcement, Zhdanova facilitated over $2.3 million in fund transfers to Western Europe on behalf of a …...
Singapore Police Alert Public of WhatsApp Phishing Scams
The Singapore Police Force issued a warning this week about a new phishing scam targeting WhatsApp users. The scam involves fake “WhatsApp Web” websites that trick victims into giving scammers access to their WhatsApp accounts. According to the police advisory, the scam starts when victims search for the WhatsApp Web page and click on phony …...
Binance Lists Memecoin; But Where Did MEME Go?
Memecoin saw major on-chain activity and exchange deposits following its high-profile Binance listing. On-chain analytics firm Lookonchain provided detailed breakdowns of Memecoin’s tokenomics and post-listing token movements. According to Lookonchain, the total supply of Memecoin is 69 billion tokens. 8,797,500,000 MEME were circulating initially when Memecoin was listed on Binance, equaling 12.75% of the total …...
Solana Price Rallies Over 69% in Past Month, Why is SOL Pumping?
The price of Solana (SOL) has surged around 69.5% over the past month, leading up to the breakpoint in 2023, according to analysis by on-chain tracking firm Lookonchain. However, previous pump and dumps around the event raise questions. Solana is currently trading around $40.50, up from under $25 in early October. Lookonchain cited several factors …...
Saylor Anticipates Significant Bitcoin Catalysts; MicroStrategy Expands BTC Holdings
“You can never have too much bitcoin,” affirmed diehard Bitcoin bull Michael Saylor in a recent CNBC interview following the Q3 earnings of MicroStrategy. He cited several key factors that can drive further bitcoin growth. As the co-founder of MicroStrategy, Saylor has made Bitcoin a corporate strategy. The company holds 158,400 BTC worth billions acquired …...
$230,000,000 in Bitcoin Moved by 3 Dormant Whales – But What’s the Common Thread?
Three dormant Bitcoin whale addresses moved a combined 6,500 BTC worth about $230 million and made sudden transfers on November 2nd. The wallets have been inactive since 2017. According to data from BitInfoCharts, the first address moved 2,550 BTC, valued at around $90 million. A second address transferred 2,000 BTC worth $71 million. And a …...
Sam Bankman-Fried is a Celebrity Chaser, Says Attorney
As the fraud trial of FTX founder Sam Bankman-Fried continues, federal prosecutors are attempting to convince the jury that the former crypto mogul knowingly misled investors and misused customer funds. Assistant U.S. Attorney Nicolas Roos delivered the prosecution’s closing argument on Wednesday, asserting there is “no serious dispute” that billions in customer funds are unaccounted …...
SEC Charges SafeMoon and Executives for $200 Million Crypto Fraud
The US Securities and Exchange Commission (SEC) charged crypto firm SafeMoon, its founder, and executives on Thursday for perpetrating an alleged $200 million fraud through unregistered token sales. According to the SEC complaint, SafeMoon and its leaders falsely promised investors they would safely lock liquidity pool funds. However, they allegedly misappropriated millions to fund lavish …...
FTX Offloads $127,500,000 in ETH, SOL, and Altcoins: On-Chain Data
Crypto exchange FTX and its sister trading firm, Alameda Research, have transferred close to $127.5 million worth of digital assets over the past few days, according to on-chain data tracked by analyst Lookonchain. $20.2 million moved on November 1 Lookonchain reported FTX moved around $20.2 million in assets on November 1, including: On October 31, …...
PayPal Registers with UK FCA for Crypto Services
Payments giant PayPal has successfully registered with the UK’s Financial Conduct Authority (FCA) as a crypto service provider, according to the regulator’s public register. However, PayPal faces restrictions on UK crypto services pending further FCA approvals. The FCA register shows PayPal UK Limited was approved for registration on October 31, 2023. The status permits PayPal …...
Vitalik Buterin Dissects Evolving Landscape of Ethereum Layer 2 Scaling Solutions
As Ethereum continues to cement itself as the leading smart contract blockchain network, an array of layer 2 scaling solutions have emerged to help bring greater capacity, lower costs, and increased security to the ecosystem. According to Ethereum co-founder Vitalik Buterin, the layer 2 landscape is likely to remain diverse and heterogeneous going forward. In …...
Crypto Hacks, Scams, and Losses Exceed $32 Million in October: CertiK
In October, over $32 million in crypto was stolen through an array of security breaches, scams, and exploits, according to security and threat intelligence platform CertiK. The October loss pushed 2023’s total well above $1.3 billion. CertiK’s incident report reveals the scale and diversity of risks facing the crypto sector. Here are the key details: …...
