In the rapidly evolving landscape of cryptocurrency, stories of young investors hitting it big are not just inspiring but also indicative of the market’s potential for life-changing returns. Among these success stories is that of a 19-year-old who struck gold with Bonk (BONK) in 2023, a memecoin from the Solana
Genesis Global Capital, a defunct cryptocurrency lender, has filed a fresh motion with the United States Bankruptcy Court for the Southern District of New York, requesting permission to liquidate almost $1.4 billion worth of trust assets. Genesis, a division of the Digital Currency Group (DCG), reportedly has $1.4 billion in
Tether, the issuer of the USDT stablecoin, saw an all-time high growth in the surplus reserves supporting its tokens in circulation and a record-breaking $2.9 billion net profit in Q4 2023, according to its latest attestation report completed by global auditing company BDO. The majority of Tether’s net operational profit
Decentralized platform Abracadabra.money’s stablecoin, MIM, had a precipitous decline to $0.76 after news of a $6.5 million vulnerability. Initial details of the hack were revealed by blockchain security company PeckShield at 11:35 UTC Tuesday. The organization went on to say that the attack was funded using Tornado Cash, a sanctioned
The dawn of 2024 has brought renewed optimism to the world of cryptocurrencies, leaving crypto enthusiasts and investors eager to see what the year has in store. Notably, the cryptocurrency market’s poster child, Bitcoin (BTC), experienced a challenging 2023, shedding approximately 65% of its market value. This tumultuous period caught
Gate.io, a leading crypto exchange and Web3 innovator, has released its January 2024 Proof of Reserves (PoR), verifiably demonstrating $4.3 billion in total held assets with a ratio of 115.47%, representing over $584 million retained in excess of user deposits. The latest report also demonstrates an increase of $1.1 billion
Ethereum, the second largest cryptocurrency by market capitalization is now trapped under the bearish pressure. It had a 3% dip in the past 24 hours and 7.28% in the past seven days, currently trading at $2344. Despite this downfall in price, Ethereum’s long-term holders have now surpassed those of Bitcoin,
Hacken Finds Gate.io’s PoR ‘Contributes Significantly to the Field’ Gate.io, a leading crypto exchange and Web3 innovator, announced that its latest Proof of Reserves (PoR) methodology passed a comprehensive security review conducted by Hacken, a pioneer in blockchain and Web3 security auditing. The accompanying report found no severe issues. Released
Staking is one of the most fundamental and essential elements of blockchain design. The process entails network users locking up a certain amount of their cryptocurrency holdings to support the blockchain’s operation. It’s how Proof of Stake (PoS) blockchains such as Avalanche are secured and entails validators being chosen to
U.S. Treasury and IRS officials have stated that they would postpone implementing new reporting rules for digital asset transactions, providing some short-term respite to companies involved in the cryptocurrency industry. The agencies are now working on adopting rules in response to changes brought by the Infrastructure Investment and Jobs Act,
