Category: News
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Bitcoin Hashrate to Drop?
As summer approaches in North America, a potential decline in Bitcoin hashrate is anticipated. The intense heatwaves characteristic of this season may force Bitcoin miners to scale back their operations. This situation provides an interesting dynamic in the already volatile world of Bitcoin mining. The Impact of Summer Heatwaves Post-Halving Profit Squeeze The recent halving…
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FTX victims file for $8 Billions
Victims of the FTX collapse have petitioned a New York court to declare that the crypto exchange’s forfeited assets, valued at around $8 billion, should be returned to its customers rather than becoming part of the bankruptcy estate. This request highlights the ongoing struggle between the exchange’s users and the bankruptcy proceedings over the rightful…
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Tether Introduces Alloy, Merging Digital Currency with Gold Stability
Tether Introduces Alloy, Merging Digital Currency with Gold Stability Tether has launched Alloy, a new asset combining digital currency with the stability of gold. Users can mint aUSDT using Tether Gold (XAUT) as collateral, facilitating digital payments. This represents a significant step in real-world asset tokenization, focusing on gold-backed assets. Tether Launches Alloy by Tether…
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Australian Securities Exchange approves Bitcoin Spot ETF
Australian Securities Exchange, the largest stock exchange in Australia has approved its first spot Bitcoin ETF which will be live from 20th June 2024.
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India’s FIU receives resume request from four exchanges
The Financial Intelligence Unit-India (FIU-India), responsible for analyzing suspicious financial transactions, has received requests from four more offshore crypto exchanges to resume operations in India, according to a senior government official. At the start of 2024, India had banned nine crypto exchanges for non-compliance with anti-money laundering laws. The FIU lifted the ban on Kucoin…
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Paxos Reduces Workforce by 20% After New Stablecoin Launch
Paxos, a regulated stablecoin issuer, is laying off 65 employees, amounting to 20% of its workforce. This decision follows the recent launch of Paxos International’s yield-bearing stablecoin, USDL. Workforce Reduction and Financial Health Bloomberg reported the layoffs, revealing the information through an email obtained by Olga Kharif. Paxos CEO Charles Cascarilla addressed the layoffs, emphasizing…
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OkayCoin launches crypto staking in S.Korea
OkayCoin crypto exchange launched in South Korea. In a press release on 15th June, the project said it is an attempt to cater to the growing staking demand in S.Korea. South Korea, known for its high cryptocurrency adoption rates, is a lucrative market for crypto exchanges but has faced regulatory challenges and market volatility. The…
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Lil Pump Flaunts Solana-Inspired Tattoos Amid Crypto Turmoil
Gazzy Garcia, known professionally as Lil Pump, surprised his 15 million followers on Instagram and X by revealing two new Solana-themed tattoos. The first tattoo features the stylized name of the Solana blockchain on his forehead. The second tattoo depicts the logo of Phantom, a popular Solana wallet. On Instagram, he asked his followers, “Like…
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Robert Kiyosaki is Tired of Pushing Bitcoin Adoption
Growing Frustration with Bitcoin Reluctance Financial educator and author Robert Kiyosaki has expressed growing frustration with people’s reluctance to invest in Bitcoin (BTC). Known for his best-selling personal finance book “Rich Dad, Poor Dad,” Kiyosaki is a vocal advocate for Bitcoin as a hedge against economic instability and traditional fiat currencies. Common Excuses for Not…
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Cardano community to have $681M Treasury
Cardano’s much anticipated Chang hardfork is around the corner and this will mean that the Cardano community will be handed a $681M treasury. Source: TapTools The entirety of Cardano’s treasury though comprises of only $ADA and is currently the 8th largest in the industry, with Uniswap’s $4.05B being the highest. Cardano’s treasury, funded by transaction…