The US Securities and Exchange Commission (SEC) has recently raised concerns over the proposed repayment strategy in the ongoing FTX bankruptcy case. The plan, which involves repaying creditors through stablecoins or other digital assets, has sparked apprehension from the SEC regarding potential violations of federal securities laws. The SEC’s filing on Aug. 30 indicated that
In the past month, the cryptocurrency industry has been hit with a series of high-profile hacks resulting in losses totaling over $313 million. These hacks have highlighted the vulnerabilities present in the crypto space, with over 10 different incidents contributing to the staggering amount lost. The most significant losses, accounting for 93.5% of the total
Last week, digital asset investment products experienced outflows totaling $305 million, signaling a widespread negative sentiment among various providers and regions. CoinShares attributes this trend to the release of stronger-than-expected economic data from the United States, which has subsequently decreased the likelihood of a 50-basis point interest rate reduction. As a result, the asset manager
Recent data from bitcoin (BTC) on-chain analysis platform Bitbo paints a grim picture for miners, showing their worst month in nearly a year in terms of revenue generation. The figures reveal that BTC mining activities secured a mere $827 million in August, marking a significant 10% decrease from the previous month’s earnings of $927.35 million.
Cryptocurrency exchange OKX’s Singaporean entity, OKX SG, recently announced that it has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore as it allows businesses to operate without daily or monthly transaction limits. To qualify for the MPI license, companies must be registered
In the past 24 hours, Bitcoin’s price has taken a turn for the worse, dropping to a 2-week low of $57,100. This recent slump comes after a period of highs just a week ago, when the asset climbed to over $65,100, charting a multi-week peak. However, Bitcoin failed to maintain its momentum, gradually losing value
Yuga Labs, the creative team behind the incredibly popular Bored Ape Yacht Club, has recently announced a groundbreaking initiative that is set to revolutionize the company’s approach to product development. Co-founder and current CEO Greg Solano revealed the launch of “The Workshop” in a recent Tweet, describing it as a team of “no fat, just
Cardano recently completed its Chang upgrade, transitioning to a decentralized governance system that empowers ADA holders to participate in the network’s decision-making process. The upgrade, named after Chinese mathematician Ch’ang Shou, was finalized at block 10764778 on Sep. 1. This milestone introduces significant modifications to Cardano’s governance structure, including on-chain voting, Delegate Representatives, enhanced smart
Authorities in the UK have taken a stern stance against individuals operating Bitcoin ATMs without proper registration. One such case involves Habibur Rahman, a 37-year-old resident of Langdon Crescent, East Ham, who was recently charged with this offense. Following a raid by Kent Police at a gadget shop in Chatham, Rahman was arrested on April
Semilore Faleti is a distinguished cryptocurrency writer who has made a name for himself in the field of journalism and content creation. With a keen interest in the complexities of blockchains and cryptocurrencies, Semilore has dedicated his career to exploring the efficiency of digital assets in storing and transferring value. His work reflects a deep
