South Korean police arrested a man in his 40s for orchestrating a cryptocurrency scam that defrauded 158 investors of 16 billion won ($12 million). Operating from November 2021 to June 2022, he promised an 18% monthly return on investments in a fake cryptocurrency scam business. The scam resulted in individual losses ranging from 1.2 million to 250 million won. After failing to appear at a…
Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm
September 2, 2024
Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to…
Coinbase Reports Its First AI-to-AI Crypto Transaction
September 2, 2024
Coinbase CEO Brian Armstrong announced the platform’s first AI-to-AI crypto transaction, highlighting a new application of digital currency by artificial intelligence agents. Armstrong believes this advancement will enhance AI’s capacity to independently obtain resources…
The Bitcoin layer two (L2) network Stacks protocol has completed its Nakamoto upgrade, finalizing a series of enhancements that began in April 2024. This latest phase, delivered on August 28, 2024, introduces stronger transaction finality guarantees, reduces miner extractable value (MEV) opportunities, and improves network resilience. Additionally, the upgrade prepares the network for the…
There’s a new meme coin making waves, and it’s caught the attention of industry experts.
Crypto All-Stars (STARS) is trying to break the mold of typical meme tokens.
Instead of just depending on a cute mascot, it’s aiming to bring something fresh to the table – a…
Trump Set to Share Bold Vision: Turning the US Into the ‘Crypto Capital of the Planet’
August 30, 2024
On Thursday, former President Donald Trump posted a video on X, where he announced his intention to chart a course for making the United States the “crypto capital of the planet.” As the video concludes, the logo of World Liberty Financial, a decentralized finance (defi)…
The Washington State Department of Financial Institutions (DFI) issued a consumer alert on Tuesday, stating that it has received a complaint regarding possible fraudulent activities by a cryptocurrency trading platform named BIB. An investor reported that after transferring 20,000 USDT to BIB following advice from individuals named Austin Johnson and Cindy Turner, he was unable to withdraw any…
Sony Block Solutions Labs, an initiative by Sony Group, recently introduced Soneium, an Ethereum layer two (L2) blockchain. Designed to seamlessly connect Web3 and Web2, Soneium promises enhanced scalability, efficiency, and a developer-friendly environment. The project’s…
Ethereum Foundation Defends $96.9M Transfer Amidst Criticism
August 29, 2024
On Aug. 23, 2024, the Ethereum Foundation made a significant transaction by transferring 35,000 ETH, valued at approximately $96.9 million based on current ether rates. The transaction sparked some criticism from the crypto community, with a few voices raising concerns about…
US Bitcoin ETFs on the Verge of Controlling 1 Million BTC
August 23, 2024
According to the latest data collected on Aug. 16, 2024, the 12 spot bitcoin exchange-traded funds (ETFs) collectively hold around 910,153.83 BTC, which translates to over $53 billion at the current exchange rates. Leading the pack is Blackrock’s IBIT, holding the largest portion with 38.34% of the total BTC.
12 Spot Bitcoin ETFs Close in on Holding 1 Million BTC
The 12 U.S. bitcoin ETFs have…
