Venezuelan Currency Plunges Almost 40% Against the US Dollar, Analysts Cite Crypto Drought as Part of the Problem

The Venezuelan fiat currency, the bolivar, has lost almost 40% in its exchange rate against the U.S. dollar in a month. According to reports, the seasonal payments that the government has to make, and the lack of liquidity of the government to intervene in the currency market are part of the equation leading to this, …

Despite 2 Entities Holding 73% of the FTX Token Supply, FTT Price Still Holds Above $1 per Unit

While a large fraction of crypto assets dropped a great deal in value during the past few weeks and bitcoin is down 18.2% in 30 days, the exchange coin ftx token (FTT) still trades above a U.S. dollar per unit. Moreover, the unknown entity known as the ‘FTX Accounts Drainer,’ still holds the second largest …

Billionaire Mike Novogratz Says Bitcoin and Ethereum Not Going Away Despite Crisis of Confidence in Crypto

The chief executive of crypto investment firm Galaxy Digital says that the top two leading digital assets aren’t going anywhere despite widespread negative sentiment in the industry. In a new interview on CNBC’s Squawk Box, billionaire Mike Novogratz says that he doesn’t envision king crypto Bitcoin (BTC) and leading smart contract platform Ethereum (ETH) going …

Coinbase Launches New Initiative To Promote Crypto Exchange Transparency and On-Chain Accounting

US crypto exchange giant Coinbase is launching an initiative to help encourage more transparency among firms in the industry, particularly in regard to proof of reserves. In a blog post, Coinbase says it’s exploring new ways to prove reserves using more crypto-native methods, plus announcing a $500,000 developer grant program to encourage others to do …

TON Telegram integration highlights synergy of blockchain community

As a result of a recent upgrade to the wallet bot, users of the Telegram app are now able to purchase and sell cryptocurrencies without leaving the application. The wallet bot was developed by The Open Network (TON, formerly Telegram Open Network) in April. The bot initially enabled users to buy, sell and trade Toncoin …

The reason bots dominate crypto gaming? Cash-grubbing developers incentivize them

Think back to the communities you’ve been genuinely excited to be a part of throughout your life. It’s likely these were groups formed on the basis of shared interests, right? That’s because we feel a sense of belonging when we bond with others over any particular thing we feel a particular way about. For example, …

Kraken’s Jesse Powell Says He’ll Call Out Problems in Crypto, Weighs In on Exchanges Showing Proof of Reserves

Kraken founder and former chief executive Jesse Powell says he’s looking to publicly point out problems in the crypto space, starting with the issue of exchanges sharing their proof of reserves. Following the high-profile collapse of FTX, crypto exchanges have been scrambling to provide evidence of a one-to-one ratio of reserves to investors’ assets in …

Bitcoin ‘millionaire’ wallets drop 80% in year of BTC price bear market

Bitcoin (BTC) millionaires are becoming an increasingly rare breed as numbers fall 80% in a year. According to the latest data from on-chain analytics firm Glassnode, there are now just 23,000 wallets with a BTC balance worth $1 million or more. 1 year, 90,000 fewer million-dollar BTC wallets In yet another indication of how far …

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