On December 3, 2023, a significant event unfolded in the cryptocurrency market when the U.S. government executed transfers totaling $33.6 million in various cryptocurrencies. This substantial movement of assets stemmed from the seizure of funds tied to the infamous collapse of FTX and its associated entity, Alameda Research. The transactions involved popular tokens such as
Crypto
This week, Bitcoin mining pool operator Foundry Digital announced a substantial reduction in its workforce, laying off 74 employees—equivalent to 27% of its total staff. This significant cut comes amidst a broader restructuring initiative by its parent company, the Digital Currency Group (DCG). The decision underscores a deliberate pivot towards strengthening the company’s core operations.
While Bitcoin continues to grapple with its struggle to surpass the crucial $100,000 milestone, altcoins are demonstrating a remarkable level of resilience and growth. Among these, Binance Coin (BNB) has emerged as a leader, achieving a new all-time high just six months after its previous peak. This surge reflects not only BNB’s popularity but also
The world of cryptocurrency, once heralded as a liberating alternative to traditional banking systems, is facing growing scrutiny. A recent incident involving Ethereum developer Eric Connor and the popular exchange Coinbase has brought new attention to the challenges users face when dealing with centralized platforms. The irony is not lost on many that despite the
As Bitcoin (BTC) hovers between the $94,000 and $96,000 marks, the broader crypto landscape is abuzz with speculation about an impending breakout. Recent insights from prominent blockchain analytics platforms, particularly CryptoQuant, suggest that this leading cryptocurrency is poised for a sharp increase within the forthcoming weeks. This anticipation is fueled by on-chain indicators that many
The narrative surrounding Bitcoin often presents HODLers as steadfast investors who never sell their holdings. This notion, however, is misleading, as highlighted by on-chain analyst James Check. Contrary to popular belief, these long-term holders occasionally engage in selling activities, contributing to the stagnation in Bitcoin prices. As of early December, Bitcoin has remained relatively stable,
RTFKT, the innovative force behind non-fungible token (NFT) sneakers and avatars, has announced its plans to cease operations by January 2025. This decision, shared via a post on social media platform X on December 2, represents not only the end of a company but also the conclusion of an adventurous chapter in the realm of
In a notable shift in the cryptocurrency landscape, Bitcoin witnessed significant outflows amounting to $457 million over the past week. This marks a pivotal moment, as it was the first major withdrawal from the asset since early September. According to CoinShares, this significant outflow is reflective of profit-taking behavior, particularly after Bitcoin tested the psychological
In recent months, Ripple’s XRP Ledger (XRPL) has emerged as a vibrant hub for meme tokens, captivating the attention of crypto enthusiasts and traders alike. With the resurgence of Ripple’s own XRP token—experiencing an impressive 88% increase within just a week—the ecosystem has witnessed a remarkable influx of new meme tokens such as ARMY, 589,
In a significant turn of events for the Japanese cryptocurrency landscape, DMM Bitcoin has announced its plans to cease all operations by March 2025. This decision comes in the wake of a catastrophic security breach that led to losses exceeding $300 million, raising crucial questions about the efficacy of security measures in place at cryptocurrency
