For an article he published last year, ZachXBT, one of the most followed on-chain crypto sleuths on Twitter, claims to be facing legal action. The analyst claims he needs public funding to pay for his defense since, unlike his accuser, he does not have a lot of money. That backing
In a significant development for the cryptocurrency market, major digital currencies closed the week with notable gains, driven by the news of “BlackRock’s plans to launch a Bitcoin exchange-traded fund (ETF).” The announcement by BlackRock, one of the world’s largest asset management firms, has captured the attention of investors and
After almost a decade in business, San Francisco’s Wyre, a cryptocurrency payments startup, has announced shutdown, citing the problems of the crypto winter rather than any strong “regulatory agency direction” in the U.S. On June 16th, the firm said it will be shutting down in order to “protect the best
On Thursday, Jack Dorsey’s payments firm Block announced the launch of an open beta test for its Bitkey self-custodial Bitcoin wallet. To securely transfer Bitcoin from Coinbase or CashApp to the wallet “without the friction of standard ‘copy and paste,’” the beta already contains unique interfaces with both services. Block,
After a rough couple of weeks, the cryptocurrency market is starting to trend upward again. After the interest rate decision by the U.S. Federal Reserve, the price of Bitcoin dropped below $25,000. The statements made by Fed Chair Jerome Powell prompted the sell-off, even though a halt to rate rises
Floating Point Group, a crypto brokerage firm, reported on June 12 that it has suspended trading, withdrawals, and deposits after a hack on June 11. The entire loss from the assault, according to FPG’s estimations, is between $15 and $20 million. Moreover, after identifying the security compromise, FPG reportedly locked
Coinbase, the leading crypto exchange, has consistently made headlines within the crypto community. The exchange faces a lawsuit by the U.S. Securities and Exchange Commission. The whole crypto market has been waiting for the end of the SEC’s case against the crypto exchange. Coinbase is thrilled to have partnered with
On Thursday, the European Central Bank (ECB) announced a 25 basis point increase to its benchmark interest rate, which is one of three main rates set by the ECB. In light of the decision made by the bank’s Governing Council, the interest rates on the bank’s primary refinancing operations, marginal
In spite of Hong Kong’s efforts to become Asia’s cryptocurrency capital, major financial institutions remain hesitant to join the trend. According to the most recent FT article, Hong Kong’s banking regulator has been putting pressure on major banks. These include Standard Chartered and HSBC for working with cryptocurrency exchanges. The
Crypto exchange Binance now offers Bitcoin mining subscription services. For those who want to mine Bitcoin but don’t have the gear, Binance’s cloud mining services are now available for the purchase of hashrates as of June 15. The “hashrate” is the computational capacity needed to verify Bitcoin transactions on the
