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Just over two weeks have passed since the fourth Bitcoin halving took place. During this period, the network’s hashprice dropped from over $100 per petahash to below $45 at the beginning of May. It has since increased to $50 per petahash. Despite the modest rebound, the network’s total hashrate has experienced a decrease, with a … Read more
A new class action lawsuit was initiated against the San Francisco-based cryptocurrency exchange Coinbase on May 3. The legal action claims that Coinbase deliberately sold securities that are unregistered with regulatory authorities. Additionally, the lawsuit charges Coinbase with operating as an unregistered securities broker. Lawsuit Alleges Coinbase Illegally Sold Securities Without Registration According to legal … Read more
Paolo Ardoino, the chief technology officer of Bitfinex, has dismissed claims that Bitfinex has been breached as “pure FUD [fear, uncertainty and doubt].” A report by Shinoji Research suggested that the ransomware group, Fsociety, might have access to every Know Your Customer (KYC) document since Bitfinex’s inception. A security researcher suggested that these claims might … Read more
Nigerian authorities are reportedly planning to prohibit financial institutions from facilitating peer-to-peer cryptocurrency transactions. According to a report, Nigeria’s Office of the National Security Adviser has classified cryptocurrency trading as a national security concern. Three fintech startups, known for enabling such transactions, have been directed to block and report peer-to-peer cryptocurrency transactions to law enforcement … Read more
In a significant development within the cryptocurrency space, GSR Markets has deposited a substantial sum of 6 million ARB tokens to Binance, valued at $6.42 million, over the past 8 hours. This influx of tokens has piqued the interest of market observers, prompting speculation about the source and motives behind the deposit. Upon tracing the … Read more
Excitement brews in the cryptocurrency community as Ethena experiences a notable 9% surge in value today. However, amidst this upward momentum, significant developments regarding token distribution and market dynamics have come to light. In a move to enhance token distribution and decentralization, Ethena has implemented a phased airdrop strategy. The top 2000 Ethena holders will … Read more
The South African Financial Intelligence Centre recently issued a draft directive calling crypto-asset service providers to implement the Financial Action Task Force’s (FATF) travel rule. However, key figures in South Africa’s crypto industry say several factors could hinder the implementation of the FATF’s Recommendation 16. CASP Interactions With Unhosted Wallets The South African Financial Intelligence … Read more
In a whirlwind 24-hour period, Ethereum, the second-largest cryptocurrency, made waves by surpassing the $3,000 threshold before settling back to $2,977 at the time of reporting. Adding to the excitement, Ethereum also saw a surge in new wallet creations, with a staggering 267,000 fresh wallets recorded. This influx marks the highest number of new wallets … Read more
Bitcoin, the world’s leading cryptocurrency, has seen a significant resurgence in its market value, climbing back up to $59.3K after a period of volatility. This surge is accompanied by an intriguing indicator: 84.4% of the network’s available supply is now in profit, marking its lowest level in two months. Traditionally, such dips in this ratio … Read more
Former Bitmex CEO Arthur Hayes predicts bitcoin will range-bound trade between $60,000 and $70,000 until August. “The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” Hayes said, adding that he expects “prices to bottom, chop, and begin a slow grind higher.” Arthur Hayes’ Bitcoin … Read more