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Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume
7.8.2023
In the brief span from July 12, 2023 to August 6, 2023, the stablecoin economy witnessed a staggering loss exceeding $1.53 billion in value. Among the premier ten stablecoins, Pax’s pax dollar (USDP) experienced a redemption of 39% of its supply over the preceding 30 days. Unstable Times...
Bitcoin Price Prediction as Daily Trading Volume Drops to $4.5 Billion – What's Going On?
6.8.2023
In the ever-fluctuating world of cryptocurrency, the Bitcoin price currently stands at $29,034, experiencing a minor uptick of less than 0.10% over the last 24 hours.
However, this movement comes amid a noticeable decrease in the daily trading volume, which has dipped to $4.5 billion.
So what's...
Reports Suggest 11th-Largest Bitcoin Wallet Belongs to Stablecoin Giant Tether
5.8.2023
A 21.co research analyst has disclosed that Tether, the company behind the world’s most prominent stablecoin by market capitalization, could potentially hold the 11th-largest bitcoin (BTC) address. Additionally, an individual familiar with the matter has verified to The Block that said...
XRP Price Prediction as $1 Billion Trading Volume Sends XRP Down 10% – Are Whales Selling?
5.8.2023
XRP's price has declined by nearly 5% in the last 24 hours, reaching $0.62380. This downturn continues a four-day bearish streak, and the cryptocurrency has reached its lowest point since July 13.
That date also marks the same day Ripple achieved a partial victory against the SEC lawsuit.
This...
Navigating the Storm: Defi’s Precarious Position Amid a String of Exploits and Market Declines
4.8.2023
In the wake of July’s unprecedented wave of decentralized finance (defi) breaches, including Curve Finance’s staggering $62 million exploit, the defi economy has plummeted into a gloomy state. Hovering perilously close to dipping beneath the $40 billion threshold, the total value...
Jack Dorsey's Block Q2 Revenue Soars to $5.5 Billion, Led by Strong Bitcoin Sales
4.8.2023
Block, the payments firm led by Twitter founder Jack Dorsey, saw its revenue soar to $5.5 billion in the second quarter, partly thanks to strong growth in Bitcoin (BTC) sales on the platforms.
Out of the total $5.5 billion in revenue, a whopping $2.4 billion came from sales of Bitcoin,...
Tech Entrepreneur Ilya Lichtenstein Admits to Masterminding $4.5 Billion Bitcoin Heist
4.8.2023
Tech entrepreneur Ilya Lichtensteind, a Russian-American citizen, has admitted to committing the original 2016 Bitfinex hack, CNBC reported.
Earlier, Lichtensteind and his wife Heather Morgan had confessed to attempting to launder $4.5 billion worth of Bitcoin stolen from Bitfinex.
Until...
New York Man Admits to Billion-Dollar Bitcoin Hack From 2016, Pleads Guilty With Wife to Money Laundering
4.8.2023
In an unexpected revelation, Ilya Lichtenstein, 35, confessed to being the original hacker behind the 2016 cyberattack on crypto exchange Bitfinex, a theft that was once worth $4.5 billion. Lichtenstein made the admission while pleading guilty to laundering the stolen bitcoin in a Washington, D.C....
Binance Users in China Traded $90 Billion of Crypto Assets in a Month, Report
3.8.2023
Traders in China have reportedly exchanged $90 billion worth of cryptocurrencies on Binance despite a ban on their trading in the country. According to a report quoting internal figures and sources, the volume made the People’s Republic Binance’s biggest market. Binance Processed Monthly Crypto...
XRP Price Prediction as $1 Billion Trading Volume Comes In – Will XRP Fall Below $0.60?
3.8.2023
The XRP price has dropped by 4.5% in the past 24 hours, falling to $0.663825 as the cryptocurrency market overall slides by 1% today.
XRP is now down by 7.5% in the last seven days, with today's drop witnessing a spike in trading volume beyond $1 billion as holders panic sell the altcoin, which...
Elizabeth Warren, Bernie Sanders urge closure of ‘$50 billion crypto tax gap’
3.8.2023
U.S. senators including Elizabeth Warren and Bernie Sanders claimed crypto tax evaders are siphoning off billions from the government
Microstrategy Increases Bitcoin Holdings to 152,800 BTC — Plans to Buy More With $750 Million Stock Sales
3.8.2023
Nasdaq-listed Microstrategy has disclosed that it now holds 152,800 bitcoins, acquired for $4.53 billion. A total of 12,800 bitcoins were acquired in the second quarter. The company also revealed that it plans to buy more bitcoin with proceeds from sales of its common stock of up to $750 million....
AI boom to beat electricity and PCs, $200B investment by 2025: Goldman Sachs
3.8.2023
Economists from Goldman Sachs predict that AI investment could account for up to 4% of GDP in the United States by 2025
Mixed signals: Binance denies reports of $90 billion in crypto trades in China
2.8.2023
Binance has refuted claims published in the Wall Street Journal that despite China’s crypto ban, the exchange has conducted billions in crypto-related business in the country
Tether Attestation Reveals Reserve Increase of $850 Million in Q2, Excess Reserves Reach $3.3 Billion
1.8.2023
Tether, the company behind the USDT stablecoin, has published an attestation revealing the company’s financials during Q2 2023. The document, prepared by BDO, a network of accounting and consulting services, found Tether has increased its reserves by $850 million during this period, with...
Analyzing Mark Zuckerberg's Metaverse Investment: $21 Billion in Losses So Far
1.8.2023
Facebook boss Mark Zuckerberg’s metaverse push has so far cost his company $21 billion, with little to show for in terms of real results, according to a recent Bloomberg opinion piece.
For the massive amount of money spent on developing a metaverse, Zuckerberg and Facebook-owner Meta have only...
Tether's Q2 Results: $3.3 Billion in Excess Reserves, Surpassing $1 Billion in Operational Profits
1.8.2023
Stablecoin issuer Tether’s consolidated reserves report for the second quarter of 2023 shows that the company has around $3.3 billion in excess reserves, while profits increased 30% from last quarter to over $1 billion.
The report, which was attested by accounting firm BDO, noted that the excess...
SEC Files Lawsuit Against Richard Heart and Companies Hex, Pulsechain, and Pulsex
31.7.2023
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit Friday against Richard Schueler, known as Richard Heart, and his companies Hex, Pulsechain, and Pulsex, alleging they raised more than $1 billion through unregistered securities offerings. SEC Lawsuit Accuses Richard Heart of Running...
Tether’s excess reserves up to $3.3B, holds $72.5B worth of US Treasury bills
31.7.2023
Tether has released its latest reserves attestation for USDT, with its excess reserves increasing to $3.3 billion
Bitcoin Price Prediction as Daily Trading Volume Falls to $3 Billion – Are Whales Leaving the Market?
30.7.2023
As Bitcoin's price hovers at $29,366, reflecting a slight 0.22 percent decrease on Sunday, concerns arise about the declining daily trading volume, potentially signaling a departure of whales from the market.
Adding to the uncertainty, SEC Chair Gary Gensler highlights the highly speculative...