According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange and change its name. Huobi Experiences Significant Withdrawals as Subsidiary Huobi Korea Looks to
The United States Commodity Futures Trading Commission (CFTC) filed suit against self-described digital artist Avraham Eisenberg on Jan. 9, charging him with two counts of market manipulation in connection with an exploit of decentralized finance platform Mango Markets. Eisenberg was arrested on related charges on Dec. 27 and is currently in custody. The CFTC claimed
In late 2020, the Flare Network attracted a lot of attention in the Ripple (XRP) community. The creators wanted to open up the DeFi space for Ripple and announced an airdrop of Flare (FLR) tokens for all XRP holders. However, holders of XRP had to be patient for a long time. The launch was postponed
There is no excuse for not putting a few hours of research into how to properly custody your crypto, according to Glassnode lead on-chain analyst James Check. Joining the latest debate around self-custody, the analyst pushed back against the notion that managing private keys is too complicated and risky for the average crypto user. “If you
Bitcoin (BTC) has finally pushed above the $17,000 mark after rallying to $17,375 on Jan. 12. with both the bulls and the bears eyeing the Consumer Price Index (CPI) due on Jan. 12. If the print shows that inflation is cooling off, risk assets may rally, but a negative surprise could attract strong selling. While
Investors across asset classes have been keeping a close watch on the United States Federal Reserve’s monetary policy because that sets the stage for a risk-on or a risk-off environment. The strong rally in the U.S. stock markets on Jan. 6 and in cryptocurrencies over the weekend suggests that market observers anticipate the Fed to
Ethereum’s native token, Ether (ETH), rose to three-week highs, rallying in lockstep with the broader cryptocurrency market, as well as stocks. ETH price rises to three-week highs On Jan. 9, ETH’s price rose 2.85% to cross above $1,325 for the first time in three weeks, a key level that could pave the token’s path toward $1,350
On-chain data shows that Ethereum realized volatility has now declined to rare levels observed only three times before in history. Ethereum 1-Month Realized Volatility Has Plummeted To Just 39.8% As per data from the on-chain analytics firm Glassnode, the month of December 2022 was historically quiet for both Ethereum and Bitcoin. The “realized volatility” is
The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target, and the increases to the federal funds rate are intended
The government of Hong Kong remains committed to the development of cryptocurrency infrastructure despite the ongoing industry crisis triggered by the FTX collapse. According to Hong Kong’s financial secretary Paul Chan, the local government and regulators are open to collaboration with crypto and fintech startups in 2023. Speaking at an event hosted by the state-run
Financial authorities in Germany are raising the alarm amid the rapid spread of a new financial malware affecting banking and cryptocurrency applications. Germany’s Federal Financial Supervisory Authority (BaFin) released an official statement on Jan. 9, warning consumers of “Godfather,” a malware collecting user data in banking and crypto apps. BaFin emphasized that the new virus
Ripple Labs’ Managing Director for Europe, Sendi Young, shared her predictions for 2023 in a Twitter thread. As Young notes, 2022 was a “monumental” year for crypto with many ups and many downs. Young expects no less major changes in the still-young year, though she doesn’t specifically address Ripple and XRP. However, a few connections
Mastercard, the payments giant, has partnered with Polygon, an Ethereum scaling platform, to introduce emerging artists into Web3 technology. Mastercard’s artist accelerator, as the program is called, will teach five different emerging artists, including singers, musicians, DJs, and producers, to use blockchain tools to grow their brand and fan engagement. Mastercard Partners With Polygon to
Australian crypto exchange Swyftx is set to shutter its crypto-interest product this week, citing a “constantly changing regulatory landscape” for crypto products in the country. From Jan. 10 local time, the crypto exchange will cease to operate the “Earn” program, while users will have their entire Earn balances returned to their trade wallets. Swyftx said the decision
The first week of 2023 saw an upswing in non-fungible token (NFT) sales as seven-day volume increased 26.01% compared to the previous week, totaling approximately $208.99 million in NFT sales. Additionally, the top five NFT-issuing blockchains saw increases over the last week. Bored Ape NFT Collection Leads the Way with $19 Million in Sales, 52.82%
In the spring of 2022, the Central African Republic (CAR) became the first African country to adopt Bitcoin (BTC) as a legal tender. As the second country globally to recognize Bitcoin in such a fashion, the CAR followed in El Salvador’s footsteps. El Salvador has since boasted surging tourism numbers, a resilient economy and a
2023 is off to a rough start, with crypto business bankruptcies, inflation, and recession impacting markets and looming darker on the horizon. Rich Dad Poor Dad author Robert Kiyosaki says that other than bitcoin, the Unites States Securities and Exchange Commission is going to “crush” most cryptos with regulations. Other investors and economists such as
The U.S. Department of Justice (DOJ) has asked victims of former FTX CEO Sam Bankman-Fried (SBF)’s fraud to come forward. The former FTX executive has been charged with “defrauding customers of FTX.com, investors in FTX.com, and lenders to Alameda Research,” the Justice Department noted. DOJ Urges Victims of SBF Fraud to Come Forward The U.S.
The United States Securities and Exchange Commission and Commodity Futures Trading Commission and prosecutors are reportedly investigating former FTX engineering director Nishad Singh for potentially having a role in defrauding investors and users. According to a Jan. 5 report from Bloomberg, U.S. officials are looking at individuals in former FTX CEO Sam Bankman-Fried’s inner circle as
Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto industry downturn and the “macroeconomic climate” as factors that have affected the company. On