Crypto News
SEC Chair Gary Gensler Commemorates 15th Anniversary of Bitcoin Whitepaper
On October 31, 2023, Securities and Exchange Commission (SEC) Chair Gary Gensler posted a provocative tweet commemorating the 15th anniversary of the publication of the Bitcoin whitepaper by its pseudonymous creator, Satoshi Nakamoto. In the tweet, Gensler playfully pondered whether anyone would be able to recognize Satoshi if he went out incognito for Halloween. He …...
Tether Q3 Report Shows Highest Ever Cash Reserves, Lower Secured Loans
Stablecoin firm Tether published its reserves attestation for Q3 2023, revealing its highest ever percentage of reserves held in cash and cash equivalents. The report signals Tether’s prudent financial management amid crypto market volatility. Independent auditor BDO confirmed Tether’s consolidated assets continue to exceed its outstanding token liabilities as of September 30, 2023. Tether also …...
De.Fi. 2.0 Token Sale Raises Red Flags, Warns ZachXBT
On-chain sleuth ZachXBT is advising investors to exercise caution regarding the ongoing token sale for De.Fi 2.0 and its native DEFI token. In a recent tweet, he pointed out several issues that raise red flags about the project. De.Fi 2.0 operates in the decentralized finance space and conducted an initial DEX offering (IDO) for its …...
Ethereum Supply On Exchanges Drop While Price Surges: Analyst Suggests Increased Confidence
The price of Ethereum has surged recently but is beginning to show signs of conflicting momentum, based on the latest blockchain insights shared by market intelligence platform Santiment. While the second-largest cryptocurrency gained over 13% in October, its trading volumes have declined even as prices rise. This divergence between rising prices and falling volumes often …...
Crypto Investment Products See $326M Inflows, Largest Since July 2022
Crypto Investment funds saw $326 million of net inflows last week, the highest weekly total since July 2022, according to new data from CoinShares. The surge follows building optimism around a potential US spot bitcoin ETF approval. Key details from the report: Where Are Funds Flowing From? Only 12% of the latest inflows came from …...
Bankman-Fried Details FTX Growth, Admits Lack of Risk Management
FTX founder Sam Bankman-Fried took the stand for the first time Friday in his criminal fraud trial, describing the crypto exchange’s exponential expansion and his extensive work hours. However, he conceded that the lack of a risk management team was a glaring oversight. Bankman-Fried testified that FTX trading volume rapidly scaled from millions to billions …...
Fed Official Calls for Stablecoin Regulation, No Imminent CBDC Decision
Top Federal Reserve supervision executive Michael Barr said Friday that stablecoins require strong oversight to avoid risks. However, he noted the Fed remains undecided on pursuing a central bank digital currency (CBDC). In remarks at a Washington, D.C., conference, Barr stated: Stablecoins Require Federal Regulation Barr expressed deep concern over stablecoins issued without federal prudential …...
Trezor Users Targeted by Phishing Email Scam, ZachXBT Warns
Cryptocurrency hardware wallet maker Trezor is investigating a phishing email campaign targeting its users. Crypto sleuth ZachXBT revealed details of the scam on his Telegram channel. The fraudulent emails invite Trezor owners to download a fake firmware update to supposedly fix a software issue. This mirrors tactics seen in prior Trezor phishing schemes. According to …...
Bank of England Official Reflects on Crypto’s Catalyzing Impact on Central Bank Priorities
In his farewell speech, Sir Jon Cunliffe of the Bank of England took stock of how Facebook’s 2019 announcement of its planned Libra cryptocurrency jolted central banks and regulators to address digital money and payments with greater urgency. While Libra itself ultimately failed to launch and was rebranded last year, Cunliffe said its unveiling put …...
FTX Moves Millions in LINK and MATIC Amid Ongoing Criminal Proceedings
Cryptocurrency exchange FTX has transferred additional millions in digital assets, according to blockchain data revealed by on-chain analyst Lookonchain. The latest transfers include: The asset movements follow earlier transfers of millions in Solana and Ethereum from FTX wallets to exchanges. FTX’s asset movement comes amidst SBF’s proceedings This activity comes as FTX navigates concurrent bankruptcy …...
Coinbase Uncovers the Crypto Shift Among Millennials and Gen Z
Younger generations are propelling crypto adoption as they look beyond traditional institutions to chart their own paths to economic opportunity, according to crypto exchange Coinbase’s latest State of Crypto report. The report finds that Millennials and Gen Z have far less faith in the current financial system. They are instead embracing cryptocurrency and blockchain as …...
Binance and Tether Under Fire as Lawmakers Demand Terrorism-Financing Crackdown
Republican lawmakers are pressing the Department of Justice to evaluate crypto exchange Binance and stablecoin Tether over potential terrorism financing. This comes amid conflicting reports on crypto’s role in funding attacks against Israel. In a letter on Thursday, Senator Cynthia Lummis (R-WY) and Representative French Hill (R-AR) urged the DOJ to evaluate Binance and Tether’s …...
Maverick Central Banker Reveals How He Urged China to Adopt Bitcoin in 2011
In an exclusive interview with Chinese journalist Colin Wu, Hong Shuning, the author of China’s first Bitcoin research paper and a former central bank researcher, revealed his vision of Bitcoin as legal tender back in 2011. Hong sees Bitcoin evolving beyond just a currency into a diverse Web 3.0 ecosystem. Despite missing out on huge …...
Coinbase Wallet Introduces Real-Time Balances as Exchange Expands to Spain
Coinbase Wallet has implemented support for real-time balance updates and near-instant transactions on Layer 2 (L2) networks like Arbitrum and BuildOnBase, according to a tweet by the company’s official Twitter account. CEO Brian Armstrong expanded on this in his own tweet, stating that Coinbase has been working hard to reduce the cost and time required …...
Mastercard and MoonPay Collaborate to Boost Web3 Marketing
Cryptocurrency payments provider MoonPay announced a new collaboration with Mastercard focused on Web3-based marketing and experiences. Together, the duo will explore utilizing Web3 tools to enhance experiential marketing across Mastercard’s sponsorship properties. The goal is to connect with consumers through innovative engagement, according to the details of the announcement. MoonPay will also work closely with …...
ZachXBT Uncovers Scammer Involved in $4.5M Worth of 17+ SIM Swap Scams
A recent investigation by ZachXBT has uncovered extensive involvement by a Canada-based individual known as “Yahya” in a string of SIM swap attacks targeting prominent figures in the cryptocurrency space. According to details published in an expose thread by crypto sleuth ZachXBT, Yahya participated in at least 17 SIM swaps that resulted in over $4.5 …...
UK’s FCA Targets Misleading Crypto Promotions, Identifies Key Concerns
The UK’s Financial Conduct Authority (FCA) has called out compliance issues with crypto promotions since new marketing rules took effect on October 8. The FCA says it is taking action against firms illegally promoting crypto. The regulator highlighted three “common issues” seen in promotions: FCA asks firms to take regulatory obligations seriously The FCA said …...
FTX Attracts Multiple Bidders for Relaunch as Customers Await Hope
Bankrupt cryptocurrency exchange FTX has attracted several bids for a potential company restart, according to investment banker Kevin Cofsky of Perella Weinberg Partners. Cofsky testified at a Tuesday court hearing that FTX has narrowed down bidders interested in acquiring or investing in the collapsed exchange. Key points: Cofsky’s testimony helped keep FTX’s millions of customers …...
BlockFi Emerges From Bankruptcy, Moves To Unlock Withdrawals
Cryptocurrency lending platform BlockFi announced it has emerged from Chapter 11 bankruptcy proceedings as of October 24, 2023. The company filed for bankruptcy in November 2022 amid broad industry turmoil. BlockFi said its restructuring plan has now taken effect, allowing the company to begin repaying creditors per the bankruptcy terms. Key points: What happened to …...
MicroStrategy’s Bitcoin Stash Balloons to $5.4B, Here’s Where Unrealized Gains Stand
As the price of Bitcoin briefly touched $35,000, MicroStrategy’s sizable BTC holdings have generated enormous unrealized profits for the enterprise. According to on-chain analyst Lookonchain, MicroStrategy currently holds 158,245 BTC worth over $5.4 billion at today’s prices. This represents an unrealized profit of approximately $746 million for the company’s Bitcoin investments. MicroStrategy, led by CEO …...
