The cryptocurrency sector faced significant setbacks in May 2024, with blockchain security firm CertiK reporting a loss of $42.6 million to various incidents such as exploits, flash loans, and exit scams. Flash loan attacks, in particular, caused the largest losses in the crypto sector, totaling approximately $20.7 million. Sonne Finance and TLN Protocol were among
Bitcoin’s price movement has shifted back to a choppy market condition, dampening hopes of a quick breakout to new highs. Despite this setback, there is still optimism surrounding the continuation of the current bull cycle. Recent on-chain data suggests that Bitcoin has entered a phase known as the “Euphoria Wave” in the market cycle, shedding
Mastercard has recently introduced its new Mastercard Crypto Credential, which aims to revolutionize blockchain transfers by simplifying the process and enhancing security measures. This new feature allows users on popular exchanges such as Bit2Me, Lirium, and Mercado Bitcoin to utilize easy-to-remember aliases instead of complicated blockchain addresses. The launch of Mastercard Crypto Credential is a
In recent days, the price of Bitcoin has faced significant resistance at the $72,983 level. This rejection has caused a drop in price, with Bitcoin now trading below the 1-day Simple Moving Average (SMA). The price has fallen from $71,942 to $66,785, indicating a potential change in trend. The drop below the SMA in both
In the current year, the XRP Ledger (XRPL) has experienced a significant surge in network activity alongside the broader market recovery. According to the latest report from Messari, active addresses on the XRPL increased by 37% quarter-over-quarter (QoQ), while transactions saw a substantial increase of 113% QoQ. This surge in activity can be attributed to
The recent hack on the Japanese cryptocurrency trading platform DMM Bitcoin has raised serious concerns within the crypto community. The platform lost around $305 million worth of Bitcoin due to the breach, resulting in the loss of 4,502.9 bitcoins. While DMM Bitcoin has reassured its customers that it is investigating the incident and implementing measures
The recent approval of the Ethereum Spot ETFs by the US Securities and Exchange Commission (SEC) has sparked a flurry of activity among prospective issuers. Many asset managers have filed amended versions of their S-1 forms following the initial directive from the commission. One of the most significant developments in this space is the revelation
Recent trends in the crypto market show a growing sense of confidence among investors, particularly in Bitcoin. Despite the premier cryptocurrency’s price ending May below the $70,000 mark, large-scale investors have been accumulating BTC. This accumulation is evident in the continuous movement of significant amounts of Bitcoin out of centralized exchanges, as highlighted in recent
Upon vetoing H.J. Res. 109, US President Joe Biden cited the SEC’s controversial SAB 121 rule as embodying the “considered technical” views of SEC staff. He argued that overturning the rule would impede the SEC’s ability to establish guidelines and address potential risks, thereby diminishing the agency’s control over accounting practices. Furthermore, Biden highlighted the
Coinbase recently filed a closing brief with the US Court of Appeals for the Third Circuit, challenging the SEC’s denial of its rulemaking petition. The crux of the issue lies in a single sentence in the SEC’s order, where the regulatory body “disagreed” with Coinbase’s assertion that current SEC rules are unworkable for digital asset
