Bitcoin Miners Begin Massive Sell-Off After Revenue Drop
Following the network’s fourth ‘halving’ event, Bitcoin miners have begun to offload substantial amounts of their coin reserves, driven by nearly two months of reduced revenue. According to a recent report from CryptoQuant, a crypto market intelligence firm, the scale of this sell-off has reached a two-month high, with miners transferring approximately 3,000 BTC—valued at […]
Cryptocurrency Reacts to Fed’s Hawkish Stance on Interest Rates
Cryptocurrency markets experienced volatility on Wednesday, influenced by the latest commentary from the Federal Reserve regarding its ongoing battle against inflation. Despite earlier gains driven by an encouraging inflation report, the Fed’s decision to maintain interest rates led to a decline in cryptocurrency prices. The Federal Reserve’s policy meeting left interest rates unchanged, holding the […]
U.S. Spot Bitcoin ETFs Experience Record Outflows
On June 11, U.S. spot Bitcoin ETFs witnessed a dramatic $200 million in net outflows, marking the most significant single-day loss since May 1, when outflows reached $564 million. This sharp decline in investor interest primarily affected the Grayscale Bitcoin Trust (GBTC), which saw the highest net outflows of $121 million, and the Ark Invest […]
Dormant Bitcoin Wallet Awakens, Transfers $535M to Binance
An unknown entity recently reactivated a Bitcoin wallet that had been dormant for over five years, transferring Bitcoin worth approximately $535 million to the cryptocurrency exchange Binance. The transaction occurred on June 11, marking the end of a long period of inactivity since December 2018. Blockchain analytics reveal that the whale, the owner of the […]
Normie Coin Apologizes for Controversial Promotional Video
Normie, a base chain meme coin, has issued a public apology after releasing a promotional video that included a depiction of suicide, sparking significant backlash from the cryptocurrency community. The controversial video, which has since been deleted, featured the Normie character committing suicide, being buried, and then having a conversation with a God-like figure who […]
Bitcoin Blockchain Congestion Linked to OKX Exchange Activity
Bitcoin users currently face high transaction fees and delays, an issue attributed not to the usual suspects like tokenization protocols but to activities related to OKX, a major Seychelles-based cryptocurrency exchange. According to data from mempool.space, a medium-priority Bitcoin transaction now costs around $34.08 due to a massive backlog exceeding 333,400 unconfirmed transactions. Typically, fee […]
Controversy Swirls Around $237 Million Arbitrum Gaming Proposal
The Arbitrum ecosystem, a prominent layer 2 blockchain network, is currently embroiled in a contentious debate over a substantial $237 million program aimed at catalyzing the gaming industry. This initiative, approved through an onchain proposal, would allocate 225 million ARB tokens to attract builders and players, intending to expand adoption within the gaming sector. Despite […]
US Charges Three UK Nationals in $2.7 Million NFT Rug Pull Scam
The US Attorney’s Office for the Southern District of New York has announced charges against three UK nationals for their involvement in a 2021 NFT rug pull scam. The individuals, Mohamed-Amin Atcha, Mohamed Rilaz Waleedh, and Daood Hassan, all aged 23, face serious allegations of wire fraud and money laundering, with each count carrying a […]
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