In recent times, the cryptocurrency space has been plagued by a series of high-profile hacks that resulted in significant financial losses for investors and platform users. According to a recent report from PeckShield, the industry suffered a total loss of $313 million due to over ten different hacking incidents in the past month alone. What
Recent data from Bitbo, a BTC on-chain analysis platform, reveals a significant decline in revenue generation for bitcoin miners in August 2024. Compared to July, where mining activities brought in $927.35 million, August only saw $827 million, marking a more than 10% decrease. This decrease is even more dramatic when considering March 2024’s performance peak,
The recent outflows in digital asset investment products amounting to $305 million have been attributed to the release of stronger-than-expected economic data from the United States. This unexpected data has significantly reduced the likelihood of a 50-basis point interest rate cut, leading to a downturn in sentiment within the market. It is forecasted that as
OKX SG, a cryptocurrency exchange based in Singapore, has recently obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license allows the exchange to operate without daily or monthly transaction limits, making it a highly sought-after accreditation in the country’s financial sector. The MPI license granted to OKX SG
The latest price actions of Bitcoin have not been favorable, with the asset dropping to a 2-week low of $57,100. This decline marks a significant setback for the cryptocurrency, especially after reaching a multi-week peak of over $65,100 just a week ago. The failure to sustain this positive momentum has led to a gradual loss
Yuga Labs, the company behind the Bored Ape Yacht Club, has announced a new initiative that could potentially drive further innovation within the company. The Workshop, a newly established division, is set to focus on creating emerging products under the leadership of CEO Greg Solano. This strategic move signifies a shift towards a more focused
In a groundbreaking move, a London resident named Habibur Rahman has made history by becoming the first person in the UK to face charges for operating a Bitcoin ATM without proper registration. This unprecedented incident took place after a raid by Kent Police at a gadget shop in Chatham on April 28, 2023. The outlet
Cardano recently completed its much-anticipated Chang upgrade, transitioning to a decentralized governance system that gives ADA holders the opportunity to influence the network’s future direction. This significant upgrade, named after Chinese mathematician Ch’ang Shou, brings several key changes to Cardano’s ecosystem. One of the most notable changes is the introduction of on-chain voting, allowing ADA
The payments industry has experienced exponential growth over the past few decades, becoming one of the largest and most rapidly expanding sectors globally. However, a significant issue continues to plague the industry – relying on outdated technology rails that are over 50 years old. As time progresses, these legacy systems become increasingly inefficient, hindering the
Recently, Peter Diamandis, the founder of X Prize and Singularity University, posed a thought-provoking question to his extensive following on social media regarding the future of Bitcoin. He asked whether Bitcoin would ever need a bailout, sparking a diverse range of responses from his audience. One responder highlighted the fact that Bitcoin has consistently delivered
