Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has witnessed a continuous decline. The trading price of BTC has dropped below the $27K mark. Crypto analysts are suggesting that the trading price of Bitcoin will drop below the $25K mark if it continues to decline. Moreover, the market capitalization
On Friday, Sotheby’s completed the auction of many rare non-fungible tokens (NFTs) confiscated from the extensive collection of defunct crypto hedge firm Three Arrows Capital (3AC), netting $2,482,850. The Grails collection of NFTs, developed as part of 3AC’s asset portfolio which began in 2021, was the focus of the auction
Former FTX CEO Sam Bankman-Fried (SBF), co-founder Zixiao Wang, and executive Nishad Singh are being sued by FTX’s legal team. The stock-clearing platform Embed was acquired for $220 million, which is at the heart of the complaint. The attorneys claim that no proper due diligence was performed before the deal
Governor Ridwan Kamil of the Indonesian province of West Java spoke about his support for Bitcoin in a recent fireside chat dubbed “The Indonesia Bitcoin Mining Campaign.” While stressing Indonesia’s attempts to adopt this digital asset, Governor Kamil gave a favorable assessment of the flagship cryptocurrency. Specifically, plans are in
In the “never-ending SEC vs Ripple battle,” Ripple Labs has recently seen some positive winning streaks. On 16th May, Ripple bagged a significant win against the U.S. Securities and Exchange Commission to make Hinman speech-related documents public. However, both parties in the ongoing legal battle over the use of the
Robert F. Kennedy Jr., the presidential candidate in the United States, became the first-ever presidential candidate to accept Bitcoin as a campaign donation. Moreover, he stated that everybody is passionate about Bitcoin, not just because it is a currency but because it’s an exercise in democracy. Robert showed up at
Former U.S. Congresswoman Tulsi Gabbard recently voiced her criticism of the Biden administration, accusing them of neglecting the significant impact that Bitcoin has on people’s lives worldwide. In a statement, Gabbard emphasized that while Bitcoin is transforming the way people conduct financial transactions and empowering individuals globally, the current administration
On May 18, the Economic Development Board of the Kingdom of Bahrain announced that the Whampoa Group, a Singaporean family office, will establish a digital bank in the country. The Group plans to launch the bank before the end of the year, targeting customers all around the world. In addition
Reserves “in an amount sufficient to fulfil all obligations to customers” may soon be required by exchanges in Texas under the proposed legislation. The state Senate approved the measure on May 15. And it now only needs the governor, Greg Abbott’s signature to become law. Earlier this year, the Texas
According to Scam Sniffer, a Web3 scam detection firm, there are reports of a recently surfaced scam as a service named “Inferno Drainer” that has allegedly managed to abscond with approximately $6 million from unsuspecting cryptocurrency users. Inferno Drainer purportedly offers pre-made code to scammers, enabling them to pilfer cryptocurrencies,
