Day: March 1, 2024

Trump’s Ethereum Meme Coin Holdings Hit $4 Million—Will He Dump?

Former US President Donald Trump’s crypto portfolio is making headlines. The controversial figure now holds nearly $4 million worth of MAGA meme coins, and the crypto community is buzzing with speculation.   In a recent report by blockchain analytics firm Arkham Intelligence, the Ethereum wallet linked to Trump currently boasts a staggering $6.4 million in various […]

Hong Kong Amplifies e-CNY Pilot, Cross-Border Payment Revolution

In a significant move towards digital finance innovation, Hong Kong is set to broaden the experimental scope of e-CNY, China’s central bank digital currency (CBDC), aiming to revolutionize cross-border payment efficiency. This announcement, part of the government’s latest budget, underscores a strategic push to integrate advanced digital solutions within the financial ecosystem. Paul Chan, Hong […]

Gemini to Restore $1.1 Billion to Users Amid Genesis Bankruptcy

New York-based cryptocurrency exchange Gemini has set a precedent in the crypto lending space by reaching a preliminary settlement to return a staggering $1.1 billion in digital assets to users of the Genesis Earn program. This move comes as a beacon of hope for investors entangled in the bankruptcy saga of Genesis, a leading crypto […]

El Salvador’s Bitcoin Gamble Pays Off: A Defiant Victory Against Critics

El Salvador President Nayib Bukele has taken to Twitter to silence critics of his country’s embrace of Bitcoin (BTC). With a defiant tone, Bukele highlighted that El Salvador would have profited by 40% had it decided to sell its Bitcoin holdings today. This statement underscores the nation’s successful gamble on cryptocurrency, despite widespread skepticism. Bitcoin’s […]

Web3 Gaming’s Evolution: Beyond Token Incentives to True Utility

The Sandbox co-founder Sébastien Borget highlighted a growing impatience among Web3 gamers towards games that rely solely on token incentives without providing real utility. In a dynamic panel featuring leaders from Animoca Brands, Sky Mavis, and Dapper Labs, a consensus emerged that the future of blockchain gaming hinges on depth, engagement, and genuine digital ownership, […]

Sierra Club Advocates for Insight on Crypto Mining’s Energy Impact

The Sierra Club, a leading environmental organization, has stressed the critical need for detailed information on the energy consumption of cryptocurrency mining operations. This appeal is aimed at understanding the impact of such activities on electricity demand, particularly during peak usage periods. The organization’s concerns were articulated through an amicus brief filed in support of […]

SEC Questions Terraform Labs’ ‘Suspicious’ $166 Million Lawyer Payment

The U.S. Securities and Exchange Commission (SEC) has ignited a new firestorm in the ongoing saga of Terraform Labs and the collapse of its stablecoin, TerraUSD (UST). In a court filing, the SEC challenged the firm’s decision to retain Dentons U.S. LLC as its legal counsel, citing “suspicious” payments totalling $166 million raised for the […]

$6 Million Seneca Exploit: A Stark Reminder of DeFi Security Vulnerabilities

The world of decentralized finance (DeFi) witnessed another security breach as the stablecoin protocol Seneca fell victim to a $6 million exploit on the Ethereum and Arbitrum network. The incident highlights the ongoing challenges and vulnerabilities associated with smart contracts, the building blocks of the ever-evolving DeFi space. The exploit unfolded when an unknown attacker, […]