The legal challenge against Dogecoin, the popular cryptocurrency known for its meme-inspired origins, has caught the attention of Elon Musk’s legal team. In response to the allegations, Musk’s attorneys have filed a motion with a federal judge to reject a complaint seeking their removal from a class action lawsuit filed by Dogecoin investors. The investors
Standard Chartered, a prominent banking institution, has recently made a significant shift in its stance on Bitcoin (BTC) by predicting a substantial price recovery. Contrary to its previous forecast of BTC dropping to as low as $5,000, the bank now anticipates the cryptocurrency to reach $50,000 by 2023, followed by a further surge to $120,000
Crypto exchange Gemini, led by the Winklevoss twins, has recently filed a lawsuit against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert. The lawsuit accuses Silbert of defrauding creditors, specifically Gemini, the largest creditor of DCG’s subsidiary, bankrupt crypto lending firm Genesis. According to the lawsuit, Silbert committed fraud by continuing the
The Federal Reserve recently released detailed minutes from its mid-June meeting, shedding light on its plans to keep interest rates steady and address inflation concerns. The minutes revealed that the Federal Reserve aims to maintain the federal funds rate, also known as the target interest rate, at the current range of 5% to 5.25% in
Executives in the crypto industry remain positive about the long-term prospects of the sector, despite a decline in venture capital funding. According to data from RootData, a crypto data provider, the second quarter of last year saw the lowest amount of funds raised by crypto firms since tracking began in Q3 2021. During this period,
The Massachusetts Senate has recently announced the consolidation of multiple hearings on blockchain, digital assets, and digital privacy into a single assembly, demonstrating the increasing importance of these topics within the state. The ‘Advanced Information Technology, the Internet, and Cybersecurity Committee’ will conduct a four-hour hearing on July 13 to discuss several significant bills that
Crypto.com, a leading cryptocurrency platform, has taken legal action to recover funds following an erroneous transaction. The incident revolves around an individual named James Deutero McJunkins Jr., a resident of Georgia and a user of Crypto.com. McJunkins allegedly received a deposit of $50,000 in his Crypto.com account on June 24, 2022, which was later found
Bitcoin (BTC) experienced a surge to new highs in 2023 on July 6 as it bounced off key support, defying analysts’ predictions. Data from Cointelegraph Markets Pro and TradingView revealed that BTC price action surged above the upper limit of its recent trading range. Analysts had previously anticipated a further drop in the largest cryptocurrency,
The cryptocurrency industry has experienced substantial losses due to hacking incidents, amounting to over $30 billion since 2012. SlowMist, a blockchain security firm, conducted research that revealed the extent of these losses. Out of the total amount stolen, centralized exchanges accounted for $10.95 billion, making them the primary target for hackers. The research also highlighted
Binance, one of the largest cryptocurrency exchanges, has experienced a significant decline in users’ crypto assets following regulatory challenges in various jurisdictions. The latest proof of reserve snapshot taken on July 1 revealed that users’ Bitcoin deposits fell by 3.5% from 614,800 BTC recorded on June 1 to 592,450 BTC. This indicates that approximately 22,000