Matter Labs, the team behind Ethereum layer 2 scaling solution zkSync, has denied that 921 Ether (ETH) worth $1.7 million will be “stuck forever” in one of its new projects. The statement comes as one zkSync project is currently experiencing issues in transferring the funds that it accumulated during its token sale. In a response tweet,
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Dogecoin was one of Thursday’s biggest movers, as the meme coin fell by as much as 9%. The decline comes as market sentiment begins to shift, following huge gains to start the week. Litecoin was also in the red today, with prices hovering near the $90.00 level. Dogecoin (DOGE) Dogecoin (DOGE) fell for a third
The most significant advantages of trading cryptocurrencies are quick profit generation, secure value storage, low fees and universal accessibility. Meanwhile, crypto assets’ inherent risk and volatility count as disadvantages. The main benefit of cryptocurrency trading is the potential to generate quick profits by taking advantage of short-term price movements and market trends. Some cryptocurrency traders
A new report from the United States Treasury Department analyzing decentralized finance concluded that actors from the Democratic People’s Republic of Korea as well as other scammers are able to exploit vulnerabilities to facilitate money laundering. In its ‘Illicit Finance Risk Assessment of Decentralized Finance’ report released on April 6, the U.S. Treasury said many
The largest economy in Africa has a foreign investment problem despite exponential growth in crypto adoption. The National Bureau of Statistics (NBS) reported on Tuesday that foreign direct investment (FDI) in Nigeria, the largest economy in Africa, dropped by 33% last year due to a severe shortage of dollars. The shortage has also discouraged crypto
Lending protocol Sentiment has managed to recover the stolen funds from the recent hack by offering the hacker a bounty worth $95,000. In an on-chain transaction on the Arbitrum blockchain, Sentiment sent a message to the hacker offering $95,000 if the hacker returned the funds by April 6, urging the hacker to “do the right
Tether (USDT) continues to benefit from the ongoing turmoil in the U.S. dollar-backed stablecoin industry with its market capitalization growing significantly in Q1 2023 at other stablecoins’ expense. Tether market cap reaches $80 billion On April 6, the circulating market cap of USDT surpassed $80 billion for the first time since May 2022 with a
Blockchain exploits can be extremely costly; with poorly designed smart contracts, decentralized apps and bridges are attacked time and time again. For example, the Ronin Network experienced a $625-million breach in March 2022 when a hacker was able to steal private keys to generate fake withdrawals and transferred hundreds of millions out. The Nomad Bridge
One of China’s leading insurers has backed the establishment of two crypto investment funds in Hong Kong. The business move comes against the backdrop of the region’s ambitions to become a hub for digital assets, and despite the negative regulatory attitude towards the market in the mainland. Chinese Insurance Giant Enters Crypto Space Through Hong
Singapore regulators work together with traditional banks to develop uniform standards for screening potential customers from the crypto industry. The collaboration has been ongoing for the last six months. According to a Bloomberg report from Apr. 6, the Monetary Authority of Singapore (MAS) has been working alongside the police forces to help local banks optimize
The bear market might rage on, but that won’t stop the Bitcoin (BTC) shooters, creators and filmmakers from producing new content. Hosted in the capital of Poland, Warsaw, the first edition of the Bitcoin Film Festival took place in March. The Bitcoin Film Festival brought together Bitcoin advocates and film lovers from across the globe
Trading firms Jane Street Group, Tower Research Capital and Radix Trading have been reportedly identified as Binance’s three “VIP” clients that were cited anonymously in the recent lawsuit filed against Binance by the United States commodities regulator. According to an April 5 Bloomberg report citing “people familiar with the matter,” Radix Trading is “Trading Firm
Cross-chain messaging protocol developer LayerZero Labs has raised another $120 million, according to an Apr. 4 announcement. The company plans to use the capital to increase its headcount and expand its reach into the Asia-Pacific region. The company had previously raised $135 million in March 2022. pic.twitter.com/mhJgoovYis — LayerZero Labs (@LayerZero_Labs) April 4, 2023 LayerZero
Ether’s (ETH) price had been battling the $1,850 resistance level, but it broke through on April 4 when Ether rallied to a seven-month high above $1,900. Recently there has been a lot of speculation on Ether price catalysts. Let’s see if it’s possible to identify any fundamental factors behind the price movement. The upcoming Shanghai
Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking industry. Yellen insisted that “matters
Bitcoin (BTC) remains pinned below the psychologically crucial level of $30,000 as cryptocurrency investors search for positive triggers. That has not stopped business intelligence firm MicroStrategy from adding 1,045 Bitcoin to its kitty, which has now swelled to 140,000 Bitcoin. Even after the sharp recovery from November 2022 low, monitoring resource Material Indicators believes the
Adrienne Harris, superintendent of the New York Department of Financial Services, or NYDFS, has reportedly said the closure of the crypto-friendly Signature Bank in March had nothing to do with exposure to digital assets. According to an April 5 report from The Wall Street Journal, Harris made the remarks at the Chainalysis Links conference in
The legendary creator of Bitcoin, Satoshi Nakamoto, turned 48 years old today, at least according to information provided to the global network P2P Foundation when they registered. Though the identity of the Bitcoin (BTC) creator and thus their birthday remains unknown to the public, crypto enthusiasts took note of when Satoshi’s age increased by one
With one week to go until the Ethereum Shanghai and Capella upgrades on April 12, all eyes are on Ether(ETH). The second-largest cryptocurrency by market capitalization shrugged off rumors and regulatory action against exchanges to hit a seven-month high of $1,922 on April 5. Ether price has momentum, and here are three strong reasons why. Multiple
Xrp rose for a second consecutive session on Wednesday, as the token continued to move away from a recent price floor. Since hitting an eleven-month high a week ago, the token has mostly consolidated. Avalanche was also in the green, as prices hit a one-week high. XRP, formerly ripple, was a notable gainer in today’s