Three of America’s biggest banks are getting hit by the Commodity Futures Trading Commission (CFTC) for failing to properly report millions of transactions in the swaps market. JPMorgan Chase, Bank of America, and Goldman Sachs have been ordered to pay $15 million, $8 million and $30 million in fines, respectively. According to the CFTC, Goldman …
Monthly archives: October 2023
Crypto exchange Upbit targeted by hackers 159K times in H1: Report
The figure is more than double recorded in the first half of 2022 and a massive 1,800% increase from the same period in 2020, according to Dunamu. News Join us on social networks South Korean cryptocurrency exchange Upbit has been targeted by hackers on more than 159,000 occasions in the first half of 2023, according …
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Gitcoin screws up transfer, sends $460K to unrecoverable address
Gitcoin’s project lead said the snafu has resulted in nearly half a million in funds being forever locked in a one-way contract address. News Join us on social networks Crypto developer platform Gitcoin has admitted to losing approximately $460,000 of Gitcoin (GTC) tokens after mistakenly sending the funds to an unrecoverable contract address. On Oct. …
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US consumer watchdog mulls applying e-banking laws to crypto
The head of the U.S. financial consumer watchdog says it’s looking to issue guidance on how crypto could fall into electronic fund transfer laws. News Join us on social networks The top United States agency for consumer financial protection is considering applying the Electronic Fund Transfer Act (EFTA) to crypto, in an attempt to protect …
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FTX used Python code to fake its insurance fund figure: Gary Wang
FTX’s so-called “Backstop Fund” figure was a big lie, according to the former chief technology officer of the crypto exchange. News Join us on social networks Crypto exchange FTX used hidden Python code to misrepresent the value of its insurance fund — a pool of funds meant to prevent user losses during huge liquidation events …
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Tron Founder Justin Sun Abruptly Moves $132,000,000 Worth of Ethereum (ETH) – Here’s Where the Crypto Is Going
On-chain data shows that Tron (TRX) founder Justin Sun is suddenly relocating hundreds of millions of dollars worth of Ethereum (ETH). Crypto tracker Lookonchain initially spotted Sun’s series of ETH transactions to the tune of $132 million. According to Lookonchain, Sun is withdrawing the massive Ethereum trove to the tune of 80,251 ETH from the …
Bitcoin is a ‘super logical’ step on the tech tree: OpenAI CEO
During an episode of The Joe Rogan Experience, Altman expressed his excitement for Bitcoin and also said he was “super against” CBDCs. News Join us on social networks OpenAI CEO Sam Altman has called Bitcoin (BTC) a “super logical” step on the tech tree, which is both free of government control while helping to fight …
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Bitcoin Price At Risk? Whale Transfers $137 Million In BTC After 3-Year Dormancy
Whales are some of the most relevant entities in the Bitcoin market because of their potential influence on the Bitcoin price through large-volume transactions. Investors and traders often look out for whale transactions, which can trigger a domino effect on the market. In one of such developments, recent on-chain data revealed that a particular whale …
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Coinbase Ranks As Second Largest ETH Staking Entity As Lido’s Dominance Raises Concerns
Prominent crypto exchange Coinbase has emerged as the second largest ETH staking entity based on a recent scoop by Chinese reporter Colin Wu. This development comes amidst growing concerns about network centralization in regard to Lido’s dominance in the ETH staking market. Coinbase Accounts For 14.1% Of ETH Staking Activity – Report According to Wu, a …
Dogecoin In A Dire Position As Daily Active Addresses Drop Drastically
Dogecoin, which began as a meme cryptocurrency, has demonstrated that it can compete successfully in the crypto market. Although Dogecoin is still the biggest meme crypto, on-chain data points to the crypto losing steam among whale investors. According to data from IntoTheBlock, the number of Dogecoin transactions valued at $100,000 or more has declined sharply …
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Allegations of running pump and dump schemes surface against former head of OpenSea Ventures
Grave allegations of involvement in pump and dump schemes are gathering steam against the former head of OpenSea Ventures, Kevin Pawlak. According to NFT Ethics, a non-fungible token (NFT) related investigative news account on X, Pawlak has masterminded or been involved in “various very dubious business dealings” as well as pump and dump schemes. NFT …
Stars Arena secures funding to plug $3M shortfall following exploit, will reopen after security audit
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Many of Ethereum’s Rivals May Not Recover in Next Bull Market Cycle, According to Bloomberg Crypto Analyst
Alternative layer-1s attempting to dethrone Ethereum (ETH) might be running on borrowed time, according to Bloomberg crypto market analyst Jamie Coutts. Coutts says on the social media platform X that the rise of Ethereum layer-2s (L2s) is helping to take revenue away from ETH competitors. “The rise in L2s has meant that the Ethereum network …
Avalanche (AVAX)-Based Social Finance Platform Suffers $2,900,000 Exploit: Peckshield
A social finance (SocialFi) platform built on Avalanche (AVAX) has suffered losses after bad actors targeted a smart contract vulnerability. Stars Arena allows content creators to monetize their expertise by selling tickets or shares to their followers using AVAX tokens to facilitate the sale. In a post on social media platform X, cybersecurity firm Peckshield …
Alameda Tapped Billions of Dollars in FTX User Funds As Early as 2019, Says Co-Founder Gary Wang: Report
The co-founder of bankrupt digital asset exchange FTX says that its sister firm Alameda had been using billions of dollars worth of FTX customer assets for trading purposes as early as 2019. According to lengthy court transcripts released by Inner City Press on the social media platform X, FTX co-founder Gary Wang was recently questioned …