Over the weekend, the Poly Network fell victim to a hacker who managed to exploit the system and make off with nearly $10 million worth of ETH. Beosin, a security firm, was the first to reveal this breach. The attack allowed the hacker to mint an astonishing $34 billion worth of cryptocurrency. Poly Network, a
Seychelles-based cryptocurrency exchange Bitget announced the launch of its new cryptocurrency lending product, Crypto Loans, as stated in a press release on July 4. This service allows users to stake less popular coins and receive more liquid assets in return. Bitget employs a “dual-coin approach” for its lending product, where users staking one cryptocurrency will
Crypto payroll company Bitwage has informed its customers through an email that it will be disabling payments in USD Coin (USDC) for U.S. residents. This decision comes as financial regulators in the United States have ramped up their scrutiny of the cryptocurrency industry, leading to charges against major crypto firms like Binance and Coinbase. Users
There has long been a belief that when the U.S. dollar weakens against other major global currencies, it has a positive impact on Bitcoin. Conversely, when the dollar strengthens, Bitcoin tends to decline in value. This theory is often supported by looking at the Dollar Strength Index (DXY) and Bitcoin price movements. For example, when
Binance, one of the world’s largest cryptocurrency exchanges, experienced a significant decrease in spot trading volume during the second quarter of this year. The decline, amounting to nearly 70%, can be attributed to various factors, including the reintroduction of fees for its most liquid Bitcoin (BTC) pairs. This article explores the reasons behind this decline
Top executives at Ripple, Andrew Whitworth and Susan Friedman, have commended the United Kingdom for its progressive stance on cryptocurrency regulations. They argue that the UK is surpassing the United States in terms of crypto-related policies. This praise comes in response to the Royal approval of the Financial Services and Markets Bill, which officially regulates
The CEO of the Digital Currency Group (DCG), Barry Silbert, has been issued an ultimatum by Cameron Winklevoss, the co-founder of the Gemini cryptocurrency exchange. Winklevoss publicly announced Gemini’s “best and final offer” for debt restructuring in an open letter on July 4. Silbert was given a tight deadline of just two days to respond.
Litecoin’s (LTC) price has experienced a significant increase, outperforming the broader cryptocurrency market. Traders have remained optimistic about the upcoming block reward halving event in August. On July 2, the price of LTC surged by approximately 8.3% to reach $116, its highest level since April 2022. The week-to-date returns for Litecoin have climbed over 30%,
Bitcoin SV (BSV) has witnessed a remarkable surge in price, experiencing a significant boost of 30% driven by a trading volume of $400 million. This surge has sparked speculation about the participation of large investors, commonly referred to as whales, in the market. With a current live price of $49.39 and a 24-hour trading volume
Circle, a prominent provider of the USDC stablecoin, seems to have set its sights on the significant portion of trade invoicing in the Asia Pacific (APAC) region that has been conducted in US dollars for the past two decades. According to estimates from the Federal Reserve (FED), around 74% of APAC trade invoicing between 1999