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Base and Linea Users Lose $460,000 as SwirlLend Vanishes in Suspected Exit Scam
16.8.2023
SwirlLend, an Ethereum Layer 2 lending project active on the Base and Linea networks, has reportedly pulled off an exit scam that has resulted in the disappearance of an estimated $460,000 in user deposits.
According to a comprehensive on-chain analysis conducted by cybersecurity firm PeckShield...
Binance Connect to Cease Operations on August 16 – What's Going On?
16.8.2023
As confirmed via email from a Binance spokesperson on August 15, Binance Connect, the regulated buy-and-sell crypto arm of the Binance exchange, will shut down on August 16.
The same day, the decentralized BNB Chain exchange known as Biswap posted a tweet announcing that Binance, a major...
Chamber of Digital Commerce Policy VP Criticizes SEC’s Aggressive Stance on Crypto Industry Regulation
16.8.2023
During an interview, Cody Carbone, the Vice President of Policy at the Chamber of Digital Commerce, expressed his concerns regarding the regulatory stance the US Securities and Exchange Commission (SEC) has adopted toward the cryptocurrency industry.
Carbone highlighted that the SEC’s approach...
South Korean Police Arrest 312 in Crypto-powered Drug Trading Busts
16.8.2023
South Korean police are stepping up their crackdown on crypto-powered drug trafficking, and have made 312 arrests in a wide-sweeping narcotics bust.
The broadcaster KBS reported that the arrests were carried out by the Seoul Metropolitan Police Agency’s Drug Crime Investigation.
The suspects were...
Prime Trust Crypto Custodian Enters Chapter 11 Bankruptcy Amid Prolonged Crypto Winter
16.8.2023
On Monday, Las Vegas cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy protection, marking another setback for the troubled fintech company.
In the August 15th filing, the company stated that it has 25,000 to 50,000 creditors and expects liabilities of $100 million to $500...
Understanding Blockchain's Eco-Friendly Shift: Five Steps to Clarify Energy Concerns
15.8.2023
Binance published a blog post on Monday teaching readers how to dispel commonly cited blockchain FUD related to the industry’s energy footprint and supposed environmental harm.
As the company points out, most of the industry’s energy footprint is related to mining on the Bitcoin network, which...
Auradine: How a Crypto Startup Secured $81 Million with a Visionary Pitch
15.8.2023
Crypto startup Auradine has managed to secure a staggering $81 million in its debut funding round, even without a product or customers to its name, a recent article from Fortune Crypto has revealed.
This substantial amount, garnered solely from a pitch deck, raises eyebrows, particularly amidst...
Web3 Metaverse & Creator Platform ZTX Raises $13 Million in Blockbuster Fundraising Round
15.8.2023
Web3 metaverse and creator platform ZTX just closed a successful $13 million seed round led by leading crypto investment firm Jump Crypto, according to a press release sent to Cryptonews.com.
ZTX was able to attract investments from big names in the web3 investment space like Collab+Currency...
Increased Interest Rates Drive Maker Protocol's Revenues to 2-Year High of $165 Million
15.8.2023
The annualized revenue generated by the popular decentralized finance (DeFi) protocol Maker has risen to over $165 million, representing a 2-year high.
The strong development in revenue could be seen in data from Makerburn.com, which at the time of writing also showed that revenue had surpassed...
Binance US Seeks Protective Order Against Renewed SEC Probe
15.8.2023
Binance US, the United States entity of digital asset exchange, Binance has filed a motion to limit the extent of discovery sought by the Securities and Exchange Commission (SEC) in its investigation against the company. ...
Read More: Binance US Seeks Protective Order Against Renewed SEC Probe
Perfect storm for undervalued ASICs: Blockstream plans $50M raise to buy miners
15.8.2023
Blockstream intends to buy and store ASIC mining hardware ahead of Bitcoin’s halving in 2024
Dubai Offers Web3 and AI Firms A 90% License Fee Cut, Seeks To Host Largest Tech Firms In MENA
15.8.2023
Dubai has announced a 90% registration subsidy for web3 and Artificial Intelligence (AI) companies seeking operational licenses in the city as it seeks to create the largest pro-tech hub in the Middle East and North African Region (MENA).
Dubbed the Dubai AI and Web3 Campus, the city rolled out...
New Zealand Crypto Exchange Dasset Begins Voluntary Liquidation, Customer’s Assets Frozen
15.8.2023
An Auckland-based crypto exchange Dasset has apparently gone into liquidation, denying hundreds of customers from accessing their assets.
According to a report by local media The Herald, customers are desperate to assess their trapped funds and the firm has been unresponsive to their...
Reserve Bank of Zimbabwe Set to Launch Gold-Backed Digital Token (GBDT) for Retail Use Following Successful Investor Interest
15.8.2023
The Reserve Bank of Zimbabwe (RBZ) has announced its advanced plans to launch Gold-Backed Digital Token (GBDT) for retail purposes following its successful reception among investors, a success the Bank hailed as "commendable" in a recent report.
During the presentation of the Mid-Term Monetary...
Bitmain to Reveal Groundbreaking Antminer S21 at 2023 World Digital Mining Summit
15.8.2023
Reports have surfaced that Bitmain, the well known mining rig manufacturer, intends to unveil a cutting-edge bitcoin (BTC) miner at the 2023 World Digital Mining Summit (WDMS) in Hong Kong this coming September. The device, christened the Antminer S21, is being hailed by Bitmain as...
Legal Experts from Top U.S. Law Schools Critique SEC's Approach in Coinbase Lawsuit
14.8.2023
A consortium of legal experts from top U.S. law schools are backing Coinbase in its lawsuit with the Securities and Exchange Commission (SEC), arguing that the latter has the wrong interpretation of what constitutes an “investment contract.”...
Read More: Legal Experts from Top U.S. Law Schools...
Hedera Hashgraph's Dropp Integrated with FedNow, HBAR Price Rallies 15%
14.8.2023
HBAR, the token that powers Hedera Hashgraph’s decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm, has been pumping on Monday.
One of its decentralized applications (dApps) Dropp...
Registration Statistics: British Regulator Approves Just 13% Of Crypto Firm Applications - What’s Going On?
14.8.2023
UK’s financial regulator says it has approved only 13% of the total applications by cryptocurrency companies for registration with the body.
The Financial Conduct Authority (FCA) has disclosed that from January 2020, only 38 applications have scaled through out of 291 since it started the...
Suspicion Arises as Bankrupt Voyager Transfers Tokens to Coinbase – What's Going On?
14.8.2023
Bankrupt crypto lender Voyager Digital's recent transfer of 1,500 Ether (ETH) and 250 billion Shiba Inu (SHIB) tokens, worth around $2.77 million and $2.7 million respectively, to Coinbase has ignited suspicion and speculation in the crypto community.
The transfers, taking place within an hour...
Neal Stephenson's Metaverse Vision Is One Step Closer as Lamina1 Blockchain Launches Betanet
14.8.2023
The metaverse-focused layer 1 blockchain, dreamed up by science-fiction author Neal Stephenson and blockchain expert Peter Vessenes, is launching the Lamina1 Hub for Web3 builders and creators