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Study: Crypto Losses 28% Lower in May; Attackers Primarily Targeting Defi Platforms

In May, cybercriminals were less successful in their attacks on decentralized platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59....

Wyoming Senator Cynthia Lummis Castigates US President Joe Biden’s Veto

U.S. Senator for Wyoming Cynthia Lummis has castigated President Joe Biden over his decision to veto a measure that would disapprove the Securities and Exchange Commission’s Staff Accounting Bulletin No. 121 (SAB 121). Lummis said the measure known a...

An Introduction to Bitcoin Layer Two Solutions

Bitcoin, the pioneer of blockchain technology, has faced challenges as its adoption has grown. With its original design allowing only seven transactions per second, the network often struggles with scalability, leading to high fees and slower transac...

Ex-Banker Sentenced to 41 Months in US Prison for Crypto Fraud Scheme

Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promi...

Donald Trump’s Crypto Portfolio Tops $14M Post-Conviction — Meme Coin Holdings Soar, Says Arkham

Former U.S. President and presidential candidate Donald Trump’s crypto portfolio now exceeds $14 million, according to Arkham Intelligence’s onchain tracking tool. His crypto holdings include a significant amount of meme coins, which were...

JPMorgan Predicts ‘Negative’ Initial Reaction for Ethereum ETFs — Expects Lower Demand Than Bitcoin ETFs

JPMorgan has predicted an initial negative market reaction for spot ethereum exchange-traded funds (ETFs), expecting lower demand compared to bitcoin ETFs. The global investment bank also cautions that approximately $1 billion may exit the Grayscale...

Bankruptcy Court Backs Bittrex in Cryptocurrency Freeze Dispute

The bankruptcy proceedings of Bittrex Inc. involved a legal dispute over claims filed by Azim Ghader, who sought recovery for lost profits and damages after his cryptocurrency was frozen on the Bittrex exchange in 2017. The United States Bankruptcy C...

Cathie Wood’s Ark Invest Halts Spot Ethereum ETF Plans

Cathie Wood’s Ark Investment Management has withdrawn from the race to launch a spot ether exchange-traded fund (ETF), as its name was removed from the application filed with 21shares. The ETF, now renamed 21shares Core Ethereum ETF, reflects ArkR...

Senate Urged to Pass Landmark Crypto Bill After Biden Vetoes Resolution to Overturn SEC Rules

Following President Joe Biden’s veto of the resolution to overturn the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules in SAB 121, U.S. lawmakers in both the Senate and House of Representatives have intensified...

Ripple CEO Says XRP, Solana, Cardano ETFs Are ‘Inevitable’

Ripple CEO Brad Garlinghouse foresees the emergence of exchange-traded funds (ETFs) for cryptocurrencies beyond bitcoin and ether, following the U.S. Securities and Exchange Commission (SEC) approval of spot bitcoin and ethereum ETFs. At the Consensu...

Bitcoin Miners See 46.15% Revenue Drop in May, Lowest Since October 2023

After two consecutive months of record-breaking revenue, bitcoin miners experienced a significant downturn in earnings in May, a level not seen since October 2023. In April, miners generated $1.79 billion, whereas May’s figures show a considera...

Bitcoin Firm Unchained Partners With University of Texas to Launch $5 Million Bitcoin Endowment Fund

The financial services firm Unchained and the University of Texas have partnered to launch a long-term endowment fund in bitcoin (BTC). Joseph Kelly, CEO and co-founder of Unchained, set the ball rolling with a personal donation of two bitcoins. The...

Ex-Binance CEO Changpeng Zhao Begins 4-Month Prison Term in California

Several reports have indicated that the ex-CEO and founder of Binance, Changpeng Zhao (CZ), has commenced his four-month term at a low-security federal facility in Lompoc, California. CZ Enters Low-Security Facility After Pleading Guilty to Money Lau...

Grayscale’s GBTC and Vaneck’s HODL Report Outflows as US Bitcoin ETFs Gain $50M

On Friday, U.S. spot bitcoin exchange-traded funds experienced their 14th consecutive day of inflows, totaling around $50 million. Leading the inflows once more was Blackrock’s IBIT, while Grayscale’s GBTC saw outflows. $1.7B in Trade V...

NFT Sales Dip Again: Ethereum Leads as Market Declines by 7.03%

Over the past week, non-fungible token (NFT) sales have declined again, slipping 7.03% compared to the previous week. During this period, $122.3 million in sales were recorded, with Ethereum-based NFTs taking the lead. 7-Day NFT Sales Slide 7.03% Thi...

$2.7 Billion Reduction — Coinbase Records 40,406 BTC Outflow in 60-Day Period

In recent weeks, Binance and Robinhood observed a modest influx of approximately 1,302 BTC or $88 million in bitcoin, with Robinhood acquiring the majority of these assets. Conversely, Coinbase experienced a noticeable decrease in its bitcoin reserve...

Bybit Affiliate Withdraws Hong Kong VASP Application Months After Regulator Issued License Warning

The Singaporean crypto exchange Bybit’s affiliate Spark Fintech Limited, has abandoned its pursuit of an operating license in Hong Kong. The affiliate withdrew its virtual asset trading platform application on May 31, exactly four months after...

Coinbase Challenges SEC’s Rulemaking Process, Argues for Clear Regulations on Digital Assets

Coinbase, Inc. has escalated its dispute with the Securities and Exchange Commission (SEC) by filing a reply brief in the Third Circuit Court of Appeals, arguing the necessity of clear rulemaking for the digital asset industry. The case underscores t...

Report Shows No Evidence of Special Treatment for BTC Ponzi Scheme Mastermind in Brazilian Jail

The Brazilian State Attorney General has dismissed allegations that Johann Steynberg, the late mastermind of a South African bitcoin ponzi scheme, was granted irregular access to a computer and the internet while in prison. Acting public prosecutor L...

Worldcoin Officially Launches in Colombia

Worldcoin, the iris-scanning biometric proof-of-personhood project, announced on Thursday the launch of its operations in Colombia. Via social media, the project reported that eye-scanning operations were already available in Bogota and Medellin, for...

Turkey Detains 127 Crypto Ponzi Scheme Co-Conspirators, Seizes Assets Worth Over $31 Million

According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The syndicate is reported to hav...

SEC Issues Investor Alert Highlighting 5 Common Crypto Scams

The SEC’s Office of Investor Education and Advocacy has issued an alert, highlighting five common crypto scams investors should watch out for to avoid losing money. The SEC warns that fraudsters exploit cryptocurrency popularity with sophisticated te...

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