Bitcoin

Layer 2 scaling solution Metis has announced a plan to compensate users affected by last month’s PolyNetwork bridge hack. The project will distribute 117,000 METIS tokens to impacted community members. At the same time, Metis is implementing an enhanced cross-chain architecture using LayerZero’s OFT model. Recapping The PolyNetwork Exploit On July 1st, a hacker exploited the PolyNetwork bridge to mint …

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The case against bankrupt crypto lender Celsius took a new turn as one of its former executives came forward. According to a report from Reuters, Roni Cohen-Pavon, ex-Chief Revenue Officer (CRO) at the company, pleaded guilty to criminal charges. Celsius Former Executive Pleads Guilty, What Are The Implications The report indicates that Cohen-Pavon attended a hearing today, September 14th, with …

Banking giant Deutsche Bank has partnered with crypto company Taurus to launch a new custody service for its institutional clients. The bank has been public about its optimistic views on BTC, and the partnership aims to gain a stronger foothold in the nascent sector. Deutsche Bank Jumps Into Custody, Is Bitcoin Trading Next? According to a report from Reuters, the …

The Shiba Inu price, like the rest of the crypto market, has had a hard go at it over the last few months. This has seen the meme coin’s price fall to levels that have not been recorded since June. Naturally, this has led to skepticism about the cryptocurrency and its ability to perform. However, these recent developments over the …

Bitcoin (BTC) made a notable move on Thursday morning, surging above the crucial $26,000 support level. This rally came on the heels of the release of the US consumer price index (CPI) on Wednesday, which revealed an acceleration in the annual inflation rate for August.  As concerns over rising inflation grip the market, Bitcoin appears to be uniquely positioned to …

In the latest development in the ongoing legal saga between Binance and the US Securities and Exchange Commission (SEC), Magistrate Judge Zia M. Faruqui has set a hearing date for two pivotal motions. The hearing, scheduled for September 18, 2023, at 1:00 PM ET, will address Motion 95, the Protective Order, and Motion 102, which seeks to compel and reply …

The unveiling of Telegram’s self-custodial wallet on The Open Network (TON) blockchain has been met with a mix of anticipation and caution. While the wallet promises to revolutionize how over 800 million users manage their digital assets, blockchain security firm Certik has issued a stark warning about the potential risks associated with Telegram bot tokens. Certik’s Deep Dive On Telegram …

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has now issued long-term prohibition orders against Zhu Su and Kyle Davies, founders of the now-bankrupt crypto hedge fund Three Arrows Capital (3AC). Singapore’s MAS Bans 3AC Founders From Business Activities On Thursday, September 14, the Monetary Authority of Singapore disclosed in a statement that it has imposed a 9-year ban …

Yesterday, September 13, the US Securities and Exchange Commission (SEC) charged Stoner Cats 2 LLC for conducting an unregistered offering of crypto asset securities. The offering, in the form of non-fungible tokens (NFTs), raised approximately $8 million to finance an animated web series called Stoner Cats. The SEC’s latest action has drawn sharp criticism from Ripple’s Chief Legal Officer, Stuart …

In a significant development for the cryptocurrency market, the bankrupt exchange FTX has received court approval to liquidate its crypto assets worth over $3.4 billion. The decision, delivered by Judge John Dorsey, overruled objections and permitted FTX to proceed with selling, staking, and hedging its holdings.  The exchange had submitted a filing in August, arguing that such activities would mitigate …

Cryptocurrency exchange Huobi celebrates its anniversary on the 13th of September every year, and it is doing so with a contentious marketing move in 2023. The company was launched 10 years ago, and to commemorate the occasion, the company changed its name from “Huobi” to “HTX,” similar to the now-defunct exchange FTX. Huobi Changes Exchange Rebrands As HTX Huobi, one …