From his childhood living in a ghetto on the east bank of the Yamuna river in Dehli to launching the $6-billion Polygon blockchain, Sandeep Nailwal has an incredible rags-to-riches tale. Now happily ensconced in the futuristic, air-conditioned cityscape of Dubai, he tells Magazine he was born in a farming village in 1987 with no electricity
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In the shadowy corners of the digital world, where the glow of computer screens illuminates faces with eerie light, there exist tales of lost fortunes. These tales act as a terrifying reminder of the unpredictable nature and volatility present in the cryptocurrency markets and the need to adopt stringent security measures. 1. James Howells and
A new contract deployed on Oct. 29 by Unibot, a popular Telegram bot used to snipe trades on the decentralized exchange Uniswap, was reportedly exploited for roughly $560,000 in various memecoins from users. On Oct. 31, blockchain security firm Scopescan alerted Unibot users about an ongoing hack on Unibot that went undetected. An exploit on
Decentralized crypto exchange PancakeSwap now has portfolio manager functionality, according to an Oct. 30 announcement. The feature has been added in partnership with decentralized finance (DeFi) protocol Bril Finance. The new feature allows PancakeSwap users to deposit tokens into single-asset vaults via the exchange’s user interface. Once the tokens are deposited, they go into a
The Dubai Virtual Assets Regulatory Authority (VARA) has issued a Virtual Asset Service Provider (VASP) license to the crypto wallet Backpack, resulting in the launch of Backpack Exchange. Backpack’s VARA license is limited to crypto exchange services in Dubai and does not allow the company to offer any other of its virtual asset products and
As Ripple Swell 2023 approaches, scheduled for November 8-9 in Dubai, the XRP community is abuzz with predictions and speculations. This annual event, a nexus for the brightest minds across crypto, blockchain, payments, and economic policy, is expected to be particularly significant this year, with several key announcements on the horizon. Renowned XRP community member
Ethereum, often hailed as the pioneer of smart contracts, has cemented its position as the frontrunner in the world of decentralized finance (DeFi) and blockchain technology. Recent data reveals that Ethereum was the primary catalyst behind the surge in crypto Total Value Locked (TVL), amassing an impressive 75% of all deposited funds during the past
The recent gains are a rare sight in 2023, even considering Bitcoin’s impressive 108% year-to-date performance. Notably, the last instance of such price action occurred on March 14 when Bitcoin surged from $20,750 to $26,000 in just two days, marking a 25.2% price increase. Deribit BTC options daily volume, in BTC. Source: Deribit It’s worth
Billionaire investor Stanley Druckenmiller praised Bitcoin (BTC) for establishing a “brand” over last decade and half — admitting while he doesn’t own any Bitcoin, he ought to. The billionaire shared his latest thoughts on Bitcoin in an Oct. 30 interview with hedge fund manager Paul Tudor Jones, where he made comparisons between Bitcoin and gold
Crypto exchange-traded products (ETPs) saw their largest weekly inflows in more than a year, according to an Oct. 30 report from asset management platform CoinShares. Inflows were $326 million for the week ending Oct. 27, dwarfing the $66 million recorded over the previous week. Digital asset investment products saw inflows of US$326m, the largest single
Ethereum (ETH), the second-largest crypto by market capitalization, has been in the spotlight due to its price action. A notable crypto analyst, Pentoshi, shed light on the asset’s price trajectory, suggesting a possible uptick in value if current conditions prevail. It is worth noting that this analyst’s predictions come at a time when Ethereum trails behind
The bullish momentum that propelled Bitcoin (BTC) price to a year-to-date high continues into its third week as the price presses toward the $35,000 handle. Some notable developments that back the current bullish momentum are: The forming a golden cross between the 50-day moving average and 200-day moving average on the daily timeframe. Liquidity maps
Bitcoin (BTC) price climbed by 15% last week and 10.45% the week before. The S&P 500 Index dropped 2.53% last week and 2.39% the week before. This shows that Bitcoin has decoupled from the S&P 500 Index in the short term and may chart its own course. However, the path higher may not be easy.
United States President Joe Biden issued an executive order on Oct. 30 establishing new standards for artificial intelligence (AI) safety and security. Biden’s order stated it is building off previous actions taken, including AI safety commitments from 15 leading companies in the industry. The new standards have six primary points, along with plans for the
Ripple’s CEO Brad Garlinghouse didn’t hold back when he hit out at the former Securities and Exchange Commission (SEC) Chair Jay Clayton following the latter’s recent interview where he spoke on the current regulatory landscape and alluded to the SEC’s abuse of power. Why Ripple CEO Lashed Out At Clayton In response to an interview
Ethereum (ETH), one of the leading cryptocurrencies, is displaying remarkable resilience in the face of recent market fluctuations. Despite experiencing relatively modest gains compared to Bitcoin (BTC) and other major altcoins, ETH has managed to consolidate its position above the $1800 mark. The big question on everyone’s mind is whether Ethereum can sustain this level
A recent study conducted by the United Nations suggests a direct correlation between the price of Bitcoin (BTC) and the energy needed for mining operations. UN scientists evaluated the activities of 76 Bitcoin mining nations during the 2020–2021 period and found that the global Bitcoin mining network consumed 173.42 terawatt-hours of electricity. During this timeframe,
United States-based cryptocurrency exchange Kraken said it will share the data of 42,000 users with the U.S. Internal Revenue Service (IRS) in compliance with a court order. The information will be sent to the IRS in early November. On its support page, Kraken specifies that the summons to produce “a wide range of records and
Asset manager VanEck filed an amended application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 27 with the United States Securities and Exchange Commission (SEC), according to the regulator’s database. The amended filing highlights that a seed capital investor purchased in October the Seed Creation Baskets — a block of 50,000 shares of
Hopes of approval for a spot Bitcoin (BTC) exchange-traded fund by the United States Securities and Exchange Commission boosted Bitcoin’s price by 27% in October. This improved sentiment, attracting aggressive buying by crypto investors. Bloomberg senior ETF analyst Eric Balchunas highlighted in a post on X (formerly Twitter) that ProShares Bitcoin Strategy ETF (BITO), the
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