The price of Ethereum has experienced a notable decline following a major Ether sale this week. The unexpected decrease has left the crypto community anxious about the stability of the world’s second-largest cryptocurrency and the long-term effects of the decline. Ethereum Price Drops After Large-Scale Ether Swap On Monday, October 9, the price of Ethereum
Ordswap, a marketplace that allows users to inscribe, auction and trade Bitcoin Ordinals, has devised a method for users to retrieve their private keys as it scrambles to regain control of its website domain. In an Oct. 10 X (Twitter) post, the Ordswap X account shared an online tool that purports to help users who
Bitcoin’s (BTC) ongoing sideways price action could flip bullish as early as November if it behaves similarly to previous cycles leading up to a halving event, according to market observers. On Oct. 10, crypto analyst Miles Deutscher cited a chart from CryptoCon, noting that the recent patterns for Bitcoin are similar to those seen in
Binance-spearheaded Industry Recovery Initiative (IRI), a co-investment project aiming to support the cryptocurrency industry in the aftermath of the FTX collapse, may not have been as effective as desired, a new report suggests. After announcing the IRI in November 2022, Binance spent $15 million in its BUSD (BUSD) stablecoins out of its total commitments of
The Canadian Bitcoin (BTC) mining company Hut 8 continues to accumulate self-mined BTC amid the ongoing merger deal with the industrial cryptocurrency miner, US Bitcoin (USBTC). Hut 8 mined 111 Bitcoin in September 2023, bringing its self-mined BTC reserves to 9,366 Bitcoin, the firm announced on Oct. 10. The amount of Bitcoin mined by Hut
A Bitcoin developer has proposed a new way to bring more expressive off-chain smart contracts to Bitcoin without needing a soft fork. Announced in an Oct. 9 white paper titled “BitVM: Compute Anything on Bitcoin” by ZeroSync project lead Robin Linus, BitVM enables Turing-complete Bitcoin contracts without altering Bitcoin’s consensus rules. “Any computable function can be
The hacker responsible for stealing over $400 million from FTX and FTX.US in November could be using the hype around Sam Bankman-Fried’s fraud trial to further obfuscate the funds, said CertiK director of security operations Hugh Brooks. Only days before the start of Bankman-Fried’s criminal trial, the FTX hacker, known as “FTX Drainer,” began moving millions
Hong Kong’s police force has raised the alarm after 11 Hong Kong-based Binance customers were targeted in a wave of phishing scams sent through text messages. Hong Kong police warned users of the scam in an Oct. 9 post to its Facebook page dubbed “CyberDefender.” “Recently, fraudsters posing as Binance sent text messages claiming that
Cardano founder Charles Hoskinson has likened former FTX CEO Sam “SBF” Bankman-Fried to infamous American fraudster Bernie Madoff and accused the media of giving the former FTX CEO a “free pass.” Bernard Lawrence Madoff was the mastermind behind the largest known Ponzi scam in history, estimated to be worth $64.8 billion. At one point, Madoff served
One of the friendliest European jurisdictions to crypto, Cyprus, might bring its industry regulation to tighter standards. According to an Oct. 10 report by the Cyprus Mail, the local Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law. The ministry has presented its amendments package to the Parliamentary Committee
Sam Bankman-Fried’s legal team is looking for permission to probe the alleged involvement of FTX lawyers in the issuance of $200 million worth of loans from Alameda that were approved by Gary Wang. As previously reported in the build-up to the highly anticipated trial, an Oct. 1 court ruling provisionally barred Bankman-Fried from apportioning blame
Nonfungible token (NFT) platform OpenSea says it is unaware of any evidence pointing to a former employee being involved in the infamous AnubisDAO rug pull in 2021 following new accusations on social media. In an Oct. 6 thread on X (formerly Twitter), the anonymous account NFT Ethics tagged OpenSea, asking it to respond to accusations
Bitcoin (BTC) ground higher on Oct. 10 after the start of legacy market trading saw “de-risking” take over. BTC/USD 1-hour chart. Source: TradingView Bitcoin’s price preserves weekly support Data from Cointelegraph Markets Pro and TradingView showed BTC price stability returning ahead of the Wall Street open. Bitcoin bulls had lost their footing as the week
Blockchain data flagged by Coinbase director Conor Grogan indicates that Alameda Research redeemed over $38 billion for Tether (USDT) tokens in 2021 despite not having the equivalent assets under management. Onchain data shows that Alameda was responsible for minting $39.55B of USDT, a number that is 47% of Tether’s circulating supply today A previous report
A US Supreme Court case has caught the interest of the crypto community, especially the XRP community, as it could significantly impact Ripple’s ongoing legal battle against the US Securities and Exchange Commission (SEC). The US Supreme Court is set to decide on whether or not to overrule the Chevron Deference Doctrine in the ongoing
Prominent crypto exchange Coinbase has emerged as the second largest ETH staking entity based on a recent scoop by Chinese reporter Colin Wu. This development comes amidst growing concerns about network centralization in regard to Lido’s dominance in the ETH staking market. Coinbase Accounts For 14.1% Of ETH Staking Activity – Report According to Wu, a
Bitcoin (BTC) kept up renewed pressure on $28,000 into the Oct. 8 weekly close as geopolitical uncertainty entered traders’ radar. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin behavior at resistance “not the best” Data from Cointelegraph Markets Pro and TradingView showed BTC price performance avoiding downside volatility over the weekend. The pair recovered from a
The United Nations and the Dutch government announced plans for the creation of a framework for the ethical supervision of artificial intelligence (AI). On Oct. 5 the Dutch Authority for Digital Infrastructure and the United Nations’ Educational, Scientific and Cultural Organization (UNESCO) officially launched the project called, “Supervising AI by Competent Authorities,” through which they
The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset holdings. The committee, which operates under the aegis of the Bank for International Settlements, identified holding crypto as one of the factors that led to the demise of several banks
The RippleX team, Ripple Labs’ development arm, yesterday shed light on a new feature proposal, the “Clawback” for the XRP Ledger (XRPL). As the crypto space awaits the potential inclusion of this feature in the rippled 1.12.0 release, the blockchain community has set its eyes on how this addition might reshape asset controls on the
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