The US Securities and Exchange Commission has firmly opposed Hex founder Richard Heart’s motion to dismiss the $1 billion securities fraud lawsuit filed against him. The SEC argued that Heart’s attempt to dismiss the lawsuit does not adequately address the allegations laid out in the complaint and ignores established legal standards. The regulator emphasized its
Bitcoin experienced a significant spike of over 6% in response to the Federal Reserve Chairman Jerome Powell’s announcement of adjusting its policy and hinting at a potential rate cut at the upcoming meeting. This unexpected news has contributed to the recent volatility in Bitcoin’s price, with fluctuations occurring unpredictably over the past weeks. Despite this
The cryptocurrency market has been experiencing a period of uncertainty and volatility, leaving investors and analysts eagerly awaiting the highly anticipated Pectra upgrade for the Ethereum (ETH) network in the first quarter of 2025. This major upgrade, which combines the Prague and Electra improvements, has sparked optimism among DeFi researchers and analysts who believe it
The recent announcement by the Federal Reserve regarding interest rate cuts has sent shockwaves through the financial markets. Powell’s speech in Jackson Hole, Wyoming, indicated a clear shift towards a regime of interest rate cutting, with an explicit endorsement of rate cuts in the near future. This change in policy direction has the potential to
Bitcoin ETFs have been grabbing headlines recently with a staggering influx of over $500 million in the last trading week alone. This surge comes after a rough start earlier in the month, where losses amounted to more than $550 million in just three days. The steep decline in Bitcoin’s price, plummeting from over $65,000 to
Shan Hanes, the former CEO of Heartland Tri-State Bank, was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme. This scheme, known as “pig butchering,” involved luring unsuspecting investors into fraudulent digital asset investments through unauthorized wire transfers. Hanes executed 11 of these transfers between May and July
Samuel Edyme, also known by his intriguing nickname HIM-buktu, is a multifaceted individual with a diverse skill set that knows no bounds. As a web3 content writer, journalist, and aspiring trader, he navigates the complexities of the crypto universe with finesse. Despite facing the adversity of falling victim to a Ponzi scheme early on in
The Cardano (ADA) community is buzzing with excitement as the anticipated Chang hard fork approaches its launch date. There has been a surge of over 52% in ADA, the native token of the Cardano ecosystem, leading up to this significant event. Intersect, a member-based organization for the Cardano community, has been actively sharing updates and
Indian cryptocurrency exchange WazirX recently announced a comprehensive restructuring plan after experiencing a major security breach on July 18. The platform revealed that external parties not invested in the exchange may be attempting to prolong the restructuring process for their own gains. These parties are said to be creating and maintaining uncertainty rather than seeking
Shibarium is a layer-2 blockchain solution that operates on the Ethereum network, specifically catering to the needs of the Shiba Inu ecosystem. The primary objective of Shibarium is to reduce transaction costs, enhance speed, and boost scalability within the network. Launched a year ago, Shibarium has achieved significant milestones, processing over 418 million transactions to
