THORChain recently faced a critical inflection point as it dealt with a substantial debt issue, peaking at nearly $200 million. In light of this financial turmoil, the governance body approved Proposal 6, an essential measure aimed at restructuring the protocol and providing a pathway to recovery. This proposal signifies a pivotal moment not only for
Recent investigations into the practices of cryptocurrency exchanges have revealed a shocking statistic: Coinbase users are reportedly losing over $300 million each year due to social engineering scams. This insight, shared by on-chain investigator ZachXBT in collaboration with researcher Tanuki42, underscores a troubling vulnerability within one of the largest cryptocurrency platforms. Over recent months, numerous
The cryptocurrency market is notorious for its volatility, and recent developments have highlighted just how quickly sentiment can shift. In a dramatic turn of events, Bitcoin, the leading cryptocurrency, has experienced a staggering decline in open interest—plummeting by $4.5 billion in just one weekend. This drop is not merely a statistic; it signifies a pressing
Elon Musk’s foray into government reform through the Department of Government Efficiency (D.O.G.E.) has stirred significant debate, particularly regarding the U.S. Treasury’s handling of finances. In a series of incendiary remarks on social media, Musk directed attention to potential fraudulent payments approved by Treasury officials. His bold claims not only ignited discussions around systemic inefficiencies
Kraken, a well-known name in the cryptocurrency exchange landscape, has achieved a significant milestone by obtaining a Markets in Financial Instruments Directive (MiFID) license in the European Union. This vital regulatory approval paves the way for Kraken to enhance its derivatives offerings across key European markets. With this license firmly in hand, Kraken is positioning
Recent discussions surrounding liquidation figures in the cryptocurrency market have raised eyebrows, particularly following comments from Bybit’s CEO, Ben Zhou. Contrary to mainstream reports that indicated liquidations were merely $2 billion, Zhou contends that the reality may be much grimmer, estimating between $8 billion and $10 billion. This contradiction stems from Zhou’s reference to Bybit’s
The cryptocurrency market has recently experienced a notable downturn, with Ripple’s XRP standing out as one of the significant casualties. After a strong performance in the preceding months, XRP’s price suffered a dramatic decline, dropping below the crucial $2 mark for the first time in 2023. Although it managed to recover slightly to around $2.40,
Ethereum, once a beacon of innovation and investment within the cryptocurrency realm, recently encountered a severe capitulation event, losing over 30% of its value in less than 24 hours. This dramatic fall is indicative of an increasingly volatile market, influenced heavily by fears stemming from potential economic fallout, most notably a potential trade war led
In the ever-evolving landscape of cryptocurrency, fewer topics elicit as much debate and speculation as the potential impact of government tariffs on Bitcoin’s future. Recently, Jeff Park, the Head of Strategy at Bitwise, articulated a contentious view regarding the relationship between tariffs and Bitcoin’s trajectory. With the backdrop of President Donald Trump’s recent imposition of
India is on the brink of a significant transformation in its approach to cryptocurrency, as recent global trends signal an increased openness towards digital assets. According to reports, the Indian government is currently reassessing its regulatory framework in light of favorable international attitudes, particularly those emerging from the United States, where pro-crypto policies are gaining
