Ethena has introduced a synthetic dollar protocol on Ethereum that issues the stablecoin USDe with the vision of creating a censorship-resistant and scalable form of digital money pegged to the US dollar. However, a recent deep dive conducted by on-chain analytics firm CryptoQuant has shed light on the potential risks associated with the rapidly growing
Crypto
Recently, the social media account of the renowned actor Tom Holland was hacked, causing chaos among his followers. This hack involved the promotion of a fake cryptocurrency and NFT scheme, leading to significant confusion and speculation among fans. The Hack The attacker used Holland’s platform to announce a partnership with the global crypto exchange Binance,
Hong Kong recently made headlines as regulators approved spot Bitcoin and Ethereum exchange-traded fund applications from China Asset Management, Harvest Global Investments, and Bosera Asset Management in partnership with HashKey Capital. This move was seen as a major milestone for Hong Kong, as the city aims to establish itself as a central hub for digital
The ongoing saga involving Binance executive Nadeem Anjarwalla has taken a new twist with his extradition from Kenya. After escaping custody in Nigeria, Anjarwalla was tracked down to Kenya, where the authorities are now working to send him back to face charges related to the manipulation of the Naira and other illicit transactions through Binance.
Bitcoin (BTC) has the potential to reach impressive price targets in the future, according to Bitcoin analyst Willy Woo. He suggests that the cryptocurrency could reach $91,000 at the bottom of the bear market and $650,000 at the top of the bull cycle with the full deployment of exchange-traded funds (ETFs) in the coming years.
Bitrace, a prominent data analysis company, has recently taken steps to address the rising issue of cryptocurrency-related crimes in Hong Kong. As part of their Corporate Social Responsibility efforts, the company organized training sessions for members of the Hong Kong Police Force. The focus of these sessions was on on-chain fund tracking, aiming to enhance
Ripple’s XRP recently experienced a significant drop of 20% following a market downturn, leading to a price decline to around $0.48. However, some analysts are optimistic about this situation and see it as a potential buying opportunity. One analyst, EGRAG CRYPTO, boldly stated that “XRP dips for buying, not for crying,” suggesting a positive outlook
In a surprising turn of events, funding for Bitcoin startups saw a significant increase in 2023, despite an overall decline in venture capital activity. Research conducted by Trammell Venture Partners (TVP) revealed that the number of Bitcoin-native pre-seed deals skyrocketed by 360% last year, with the total number of funded Bitcoin companies also experiencing a
Bitcoin Layer 2 solutions have emerged as a promising way to address the scalability and transaction efficiency issues facing the Bitcoin blockchain. These secondary protocols aim to alleviate congestion on the main blockchain by processing transactions off-chain, leading to faster processing times and potentially lower fees for users. Additionally, Layer 2 solutions open up possibilities
Over the weekend, the cryptocurrency market experienced significant turmoil as Bitcoin’s price took a steep dive, reaching a multi-week low of around $61,000. This sudden drop was triggered by escalating tensions between Iran and Israel, causing panic among investors. Just days before, Bitcoin was trading above $70,000, but the situation quickly deteriorated after the US
