Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), was recently sentenced to 293 months in federal prison for embezzling a whopping $47.1 million in a cryptocurrency fraud scheme. This scheme, known as “pig butchering,” involved Hanes executing 11 unauthorized wire transfers between May and July 2023, directing the bank’s funds to a cryptocurrency
The recent arrest of Pavel Durov in France has sparked an incredible wave of support from celebrities and well-known public figures. Notable names such as Elon Musk, Robert F. Kennedy, Tucker Carlson, and Vitalik Buterin have all publicly voiced their support for Durov in the wake of his arrest. Durov’s arrest in France stemmed from
In the world of cryptocurrency exchange-traded funds (ETFs), Bitcoin has been dominating the scene with impressive inflows and recovering prices. The past week alone saw more than $500 million allocated to the largest US-based Bitcoin ETFs. Despite a rough start of the month that saw a loss of over $550 million in just three days,
The Cardano (ADA) community is abuzz with excitement as the highly anticipated Chang hard fork is on the horizon. ADA, the native token of the Cardano ecosystem, has seen a significant surge of over 52% in key metrics leading up to the launch of the upgrade. Intersect, a member-based organization for the Cardano ecosystem, recently
The Federal Reserve plays a crucial role in shaping economic policies that have a significant impact on the world of cryptocurrency. Recent statements from Federal Reserve Chairman Powell indicate a forthcoming era of interest rate cuts, emphasizing the need for policy adjustment. This shift towards lower interest rates and a more abundant dollar supply could
The sudden crash of Bitcoin below $50,000 on August 5 sent shockwaves throughout the crypto market, leading to panic selling and liquidations of many positions. Although the price has since recovered by 20%, short-term holders are still facing unrealized losses. Glassnode’s recent report sheds light on the factors behind this market downturn, specifically pointing to
Cardano, the blockchain platform founded by Charles Hoskinson, has decided to postpone the highly anticipated Chang hardfork to September 1, 2024. This delay was confirmed by Hoskinson himself, citing the need for Binance and other platforms to have more time to prepare for the hardfork. While the Chang upgrade is ready to go, the new
Bitcoin (BTC) experienced a sudden surge of over 6% in response to the news of the Federal Reserve’s potential rate cut. This unexpected announcement by Federal Reserve Chairman Jerome Powell sparked renewed volatility in the Bitcoin market. Crucial on-chain data from CryptoQuant paints a hopeful picture for Bitcoin traders. The data indicates that traders are
After experiencing a sharp drop to as low as $2,200 in early August, Ethereum (ETH) has shown signs of recovery. Data from Glassnode suggests that the market value to realized value (MVRV) lowest pricing level for Ethereum is at $1,687, indicating that the crypto has potentially bottomed out. This metric predicts how high or low
Samuel Edyme, fondly known as HIM-buktu, is more than just a web3 content writer, journalist, and aspiring trader. His journey into the world of crypto was not the smooth sailing success story that many may expect. In fact, it began with a scam that piqued his interest in the market, setting him on a path
